Huga Optotech, a Taiwan-based LED (Light Emitting Diode) chipmaker, has recently signed a cooperation agreement with Seoul Semiconductor, a Korea-based electronic part supplier, and Seoul Optodevice, Dow Jones reported on July 14. Pursuant to the agreement, they will jointly formed a JV to make LED chips for use in LED TVs, with Huga holding a 49% stake, Seoul Optodevice a 42% stake, and remaining 9% stake going to Seoul Semiconductor, Bloomberg reported on July 15. Currently, Huga is capable of producing 800 million LED chips per month. Further details of the JV were not yet known though.