Amber group has formalized a Memorandum of Understanding (MoU) with Korea Circuit, a subsidiary of the YoungPoong group, through its newly established venture, Ascent Circuits. This collaborative agreement aims to facilitate the manufacturing of Flexible Printed Circuit Boards (Flex PCBs), High-Density Interconnect (HDI) PCBs, and Semiconductor Substrates PCBs.
Amber Group is one of the global financial technology firms, founded in 2017, with a focus on blockchain and digital asset management. Headquartered in Hong Kong, it offers a comprehensive suite of services, including trading, liquidity provision, and investment solutions. Amber Group has gained recognition for its innovative approach to crypto finance.
Korea Circuit, a subsidiary of the YoungPoong Group, is a leading electronic component distributor based in South Korea. Established in 1991, it specializes in providing high-quality components for various industries, including automotive, consumer electronics, and industrial applications.
With a mission to ensure customer satisfaction and a diverse product portfolio, Korea Circuit has strengthened its position as one of the trusted partners in the electronics supply chain, contributing to the success of the YoungPoong Group’s broader business endeavors.
The collaboration between Amber, specializing in Ascent Circuits, and Korea Circuit is poised to elevate the capabilities of Ascent Circuits (Amber) in delivering cutting-edge solutions to the Mobile and Semiconductor industries. This alliance is set to comprehensively cover the entire spectrum of Printed Circuit Boards (PCBs) essential for diverse applications within India’s burgeoning electronics manufacturing landscape.
Encompassing a wide array of PCB types, including but not limited to High-Density Interconnects (HDI), Flexible PCBs (Flex), Semiconductor substrates, Multilayer boards, Double-sided PCBs, and Single-sided PCBs, this partnership is positioned to play a pivotal role in fueling the growth trajectory of India’s electronics manufacturing sector.
The Memorandum of Understanding (MOU) signed between Korea Circuit and Ascent Circuits (Amber) marks a pivotal move for Korea Circuit’s entry into the Indian market. This agreement positions Korea Circuit to address the escalating demand for electronics in India while ensuring a dependable and efficient supply chain for its customers.
With the recent acquisition of a majority stake in Ascent Circuits, coupled with this MOU, Amber finds itself in a unique position, emerging as a prominent player in the Electronics Manufacturing Services (EMS) sector and unlocking a plethora of new business prospects.
Furthermore, this collaboration enhances Amber’s EMS portfolio by augmenting local value addition and integrating backward processes into the production of passive components for PCB Assemblies. This development aligns with the ‘Atma Nirbhar Bharat’ vision of the Government of India and with the group’s overarching strategy to fortify backward integration in the Electronics (EMS) sector across diverse applications such as Aerospace & Defence, Medical, Telecom, Consumer Electronics, and Automotive, solidifying Amber’s position in the market.
