SKC’s board approved a 281 billion won ($208 million) cash investment in Absolics through a rights offering for existing shareholders. SKC will acquire 192,416 new shares in proportion to its 70.05% stake, while Absolics will raise 401.1 billion won in total, with the balance funded by shareholders including Applied Materials, which owns 29.95%. The funding is the first deployment from approximately 590 billion won SKC earmarked for its glass substrate business over three years after completing a 1.1671 trillion won rights offering in the first half of this year. Absolics will use the proceeds for glass substrate quality evaluation, customer qualification, facility upgrades and equipment improvements. Its embedded products have completed preliminary electrical evaluations of samples from its Georgia plant and entered reliability testing, while non-embedded products are involved in supplier-selection projects and could begin proof-of-concept work by year-end depending on the results. The company’s commercialization target, initially set for 2024, has been delayed by technical challenges, including defect-rate and yield issues in embedding glass substrates.