Japan's Asahi Glass recently announced a large-scale glass substrate production capacity expansion project, whereby the company will set up its third Korean LCD (Liquid Crystal Display) glass substrate plant in the first quarter of 2009 at the soonest, Korea's Electronic Times reported.

Asahi Glass has signed a memorandum of understanding with Korea's Ministry of Knowledge Economy to invest approximately 15.0 billion Yen (US$142.5 million; US$1= 105.3 Yen) in a third LCD glass substrate manufacturing facility adjacent to the company's two existing facilities in Gumi, Kyongbuk. The new facility is projected to manufacture 6G LCD glass substrates measuring 1.5mx1.8m or larger, with an estimated production capacity of 5.0 million square meters annually.