Samsung Electronics Co. said Tuesday it will invest 1.8 trillion won (US$1.9 billion) to build a liquid crystal display (LCD) panel plant in South Korea in cooperation with its Japanese business partner Sony Corp.
The joint plant to be located in Tangjeong, south of Seoul, will produce eighth-generation flat panels. Succeeding generations of LCDs allow manufacturers to produce bigger panels at a lower cost. The plant, whose construction is scheduled to begin in October and be completed in July next year, will be operated by S-LCD Corp., a joint venture established between Samsung Electronics and Sony in 2004.
"When the plant is completed, it will churn out 30 billion won worth of production every year and create 50,000 jobs in the local economy by 2015," South Chungcheong Governor Lee Won-koo said at a ceremony held to mark the deal.
The plant will produce large-sized LCD panels measuring more than 46 inches, Samsung Electronics officials said. The plan comes after the two electronics giants completed a joint plant for seventh-generation LCD panels in April 2004 and started full operations of the facility in October last year.
Seoul, July 18 (Yonhap News)
Samsung Electronics, Sony to build flat panel plant in S. Korea |
