Samsung Electro-Mechanics books 290 billion won of AI-server capacitors for 2027 delivery

Long-term, in this contract, means twelve months of deliveries signed about twelve weeks before the first one ^{[2] [3] [15]}. The buyer has fixed its 2027 capacitor supply in October 2026 (or rather, the part of that supply coming from Samsung Electro-Mechanics), and it will not be buying that part order by order next year ^[3].

The rest of the year's contracts could follow one of three patterns. If each one looks like this deal, the company is selling a year ahead and re-signing every year, and the 3.9 trillion won ^[5] is roughly one year of deliveries. If the June through September deals run several years, that total is spread thin. Seoul Economic Daily's comparison of the 2.4 trillion won MLCC total with last year's 11.31 trillion won of revenue ^{[11] [9]} would then set a multi-year number against a single year. The third pattern is about who wants the commitment: with few qualified suppliers ^[10], the buyers may be the ones pushing for term contracts.

Dollar figures help separate the first two. At Yonhap's conversion of 290 billion won to $215.8 million ^[6], the five MLCC deals come to about 2.39 trillion won ^[20], or roughly $1.78 billion ^[16]. Start from Goldman's 2025 base of $1.4 billion ^[7]. With Goldman's 34 percent annual growth and the company's claimed share of more than 40 percent ^[8], Samsung Electro-Mechanics would sell about $1.0 billion of AI-server MLCCs in 2027 ^[17]. The contracts, at $1.78 billion, are larger than that whole year. Either the earlier deals deliver over more than twelve months, or the market is bigger than Goldman estimates.

I think the earlier deals run longer than a year and the 2027 contract is the short one. If so, a good part of the 2.4 trillion won of MLCC contracts is delivered after 2027. The counter-case is specific. The September deals included inductors ^[12], so some of the $1.78 billion is not MLCCs at all, and Goldman's market size may simply trail what buyers are spending. The view is wrong if the company shows that the June through September contracts each cover a single calendar year.

The two reports also count differently. Yonhap has six deals worth 3.9 trillion won across silicon capacitors, MLCCs and inductors ^{[4] [5]}. Seoul Economic Daily has five MLCC deals worth 2.4 trillion won ^[11]. That leaves one agreement of about 1.5 trillion won ^[21], bigger than the largest MLCC deal at 1.07 trillion won ^[12]. Neither report describes its product or term.

"Customer demands for high-performance MLCCs continue to rise along with the growth of the AI market," an official at Samsung Electro-Mechanics said, according to Seoul Economic Daily ^[14]. This buyer's 2027 order equals about 2.6 percent of last year's revenue ^[19].