July 28, 2026, Seoul — South Korean semiconductor equipment giant Hanmi Semiconductor announced a strategic partnership with Dutch lithography leader ASML to jointly develop next-generation thermal compression bonding (TCB) equipment for high-bandwidth memory (HBM) production. The news quickly drew industry attention, seen as a significant consolidation in global advanced packaging equipment and adding new variables to the Asian semiconductor supply chain landscape.
Soaring HBM Demand Turns Bonding Equipment into Bottleneck
With exponential growth in bandwidth demand from AI large models and high-performance computing, HBM has become the hottest category in memory chips. Third-generation HBM3E and upcoming HBM4 require higher stack layers, thermal efficiency, and interconnect density, making thermal compression bonding key to precise multi-layer DRAM die stacking. Currently, the global TCB equipment market is dominated by Japanese firms (e.g., Shibaura Machine, Tokyo Electron) and a few European and American companies. Korean equipment makers have packaging experience but still lag in high-end TCB gear.
Hanmi Semiconductor's partnership with ASML aims to combine ASML's precision motion control and alignment technology from lithography platforms with Hanmi's thermal compression bonding process expertise to develop high-output equipment for HBM mass production. According to Hanmi Semiconductor CEO Kim Young-soo, the new device targets bonding accuracy better than ±1.5 micrometers and throughput (UPH) over 30% higher than current equipment, with prototype delivery to major memory customers expected in the first half of 2027.
ASML's Strategy: Extending from Lithography to Packaging
As the only company capable of supplying EUV lithography tools, ASML's entry into packaging equipment is interpreted by analysts as a precise move into upstream application scenarios. ASML Senior Vice President Peter van der West said: "Advanced packaging is becoming a key path beyond Moore's Law, and bonding processes share many alignment challenges with lithography. We believe collaboration with Hanmi can unlock greater potential for HBM manufacturing."
This move also reflects ASML's search for diversified growth beyond lithography. In its Q2 2026 earnings report, ASML revenue fell 8% year-over-year, mainly due to reduced EUV orders from memory customers, but demand for advanced packaging equipment grew 12% against the trend. By entering TCB, ASML can license or integrate its precision platform technology into packaging lines, further strengthening its core position in the semiconductor manufacturing ecosystem.
South Korea Accelerates Advanced Packaging Localization
South Korea is a global memory chip manufacturing hub, with Samsung Electronics and SK Hynix dominating the HBM market. However, both companies have long relied on Japanese and European/American suppliers for key packaging equipment. Since 2025, the South Korean government has designated advanced packaging as a national core technology and invested 1.2 trillion won (about $930 million) in equipment localization R&D. The Hanmi-ASML partnership is a typical result of this strategy.
Industry observers note that South Korea is trying to replicate its "vertical integration in memory chips" model for packaging equipment: acquiring core technology through joint ventures or partnerships with leading international firms, then absorbing and reinventing it to build an independent supply chain. Hanmi Semiconductor has already successfully mass-produced micro-bump bonding equipment for HBM stacking, and this TCB breakthrough will fill out its product line.
Asian Supply Chain Dynamics: Cooperation and Competition Coexist
This partnership also reflects new dynamics in the Asian semiconductor supply chain. On one hand, Japanese firms are strong in TCB—Shibaura Machine's TCB tools are widely used by Samsung and SK Hynix, and Tokyo Electron is actively developing next-generation hybrid bonding equipment. The Hanmi-ASML alliance could weaken Japan's monopoly in HBM bonding. On the other hand, Chinese mainland companies are catching up, with several local equipment makers launching TCB prototypes, though precision and stability still lag.
On the policy front, the U.S., Europe, Japan, South Korea, and China are all increasing local investments in semiconductor supply chains. In July 2026, the U.S. Commerce Department added advanced packaging equipment to its export control list, restricting high-precision bonders for HBM manufacturing to some countries. The Hanmi-ASML collaboration sits at a geopolitical pivot—ASML is a Dutch company, and its technology used in South Korean equipment might bypass some restrictions but could also trigger new technology reviews.
Outlook: Key Stepping Stone for HBM4 Mass Production
From late 2026 to 2027, the three major memory manufacturers plan to mass-produce HBM4. HBM4 will use a 2048-bit interface and hybrid bonding technology at sub-10nm levels, placing unprecedented demands on packaging equipment precision and efficiency. If the TCB equipment jointly developed by Hanmi Semiconductor and ASML meets performance targets on schedule, it will significantly reduce HBM4 production costs and improve yields. However, technical challenges remain: as stack layers increase from 12 to 16 or even 20, thermal management and chip warpage control become new hurdles.
Hanmi Semiconductor's stock rose 12% after the announcement, reflecting strong market expectations. ASML may use this to carve a niche in packaging equipment, possibly pursuing similar partnerships with other equipment makers. Driven by HBM, the Asian semiconductor supply chain is undergoing a profound equipment upgrade and structural reshaping.
