Doosan Corporation (KRX: 000150)'s electronics business group (Electronics BG) posted record-high first-quarter results, driven by growing demand for high-end materials used in artificial intelligence (AI) infrastructure—particularly those supporting NVIDIA's next-generation chips.

The company reported Q1 revenue of KRW 485 billion ($340 million) and operating profit of KRW 121.1 billion ($84.8 million), up 83.4% and 386.3% year-over-year, respectively. Notably, Q1 operating profit nearly matched the entire operating profit of its independent businesses for 2023.

Electronics BG, which produces key materials for printed circuit boards (PCBs) such as copper-clad laminates (CCLs), accounted for 83.1% of Doosan's independent business revenue in Q1. Its core product lines include package substrate CCLs for semiconductors, network boards (NWBs) for telecom equipment, and FCCLs for smartphones. Doosan is also expanding into emerging sectors like 5G antenna modules and electric vehicle battery materials.

Q1 performance was propelled by increased investment in AI data centers, leading to strong sales of high-end CCLs for AI accelerators and 800G optical modules. In the semiconductor segment, demand recovery for DDR5 and GDDR7 memory boosted sales further.

Notably, Doosan began mass-producing CCLs for NVIDIA's latest Blackwell AI accelerators late last year. According to DS Investment & Securities, Doosan generated approximately KRW 160 billion ($112 million) in Q1 revenue from Blackwell-related sales alone, with operating margins exceeding 45%. Additional momentum is expected in the second half of 2025 with sales of ASICs and switch trays for the GB200 platform.

Leadership changes also played a critical role. Yoo Seung-woo, a long-time leader in Doosan's electronics division, was appointed Chief Business Officer (CBO) and internal board director earlier this year. His promotion signals a deeper commitment to the electronics sector.

Yoo, known for his strategic acumen within the group, has led Electronics BG since 2020, spearheading technology innovation and capacity expansion. In September 2023, he oversaw the completion of a new high-end FCCL facility in Gimje, North Jeolla Province.

Doosan aims to reach KRW 965.1 billion in independent business revenue in the first half of 2025—up 66% year-on-year—with Electronics BG targeting KRW 810 billion, a 92% increase. The company plans to focus on AI accelerators, 800G optical components, and memory chips to drive record performance.