Haesung DS is expected to expand its supply of automotive chip boards next year.
Its main customers NXP, Infineon and STMicroelectronics are expected to maintain their high growth rate in 2022.
Haesung custom manufactures lead frame and semiconductor package boards for these companies.
Earlier this month, NXP said it saw revenue from automotive chips increase 51% year-on-year during the third quarter to US$1.455 billion.
This high growth rate is expected to continue up to next year, the company had said.
Infineon, meanwhile, had said its automotive chip revenue increased 21% year-on-year to 1.267 billion euros during its fiscal fourth quarter (July to September).
It also said it expected high growth to continue up to the next fiscal year.
In September, Haesung said it plans to spend 50 billion won up to November 2022 to expand its production capacity for semiconductor boards.
As of the third quarter this year, the South Korean company had recorded 467.8 billion won in revenue and 56.4 billion won in operating income this year, an increase of 35% and 51%, respectively, from the same time period in 2020.
Lead frame accounts for 70% of its revenue and chip boards 30%.
It also supplies its chip boards for memory chips to Samsung and SK Hynix.