LG Chem, a sister company of Korean LCD (Liquid
Crystal Display) panel maker LG Display, said on September 23 that the company has
earmarked a total investment of three trillion Won (US$2.5 billion; US$1=1196.5
Won) in establishing an LCD glass manufacturing facility in Paju, Korea, The Korea
Herald reported. The new investment scheme is considerably higher than a
previously published plan in which the company projected a spending of 430
billion Won (US$359.4 million) on LCD glass manufacturing by March 2010.
Overall, LG Chem plans to build seven LCD glass production lines in Paju, with
an estimated annual output of over 50 million square meters of glass
substrates. Commencement of production is slated for early 2012. Sales target
is estimated at two trillion Won (US$1.7 billion) in 2018.
At the same time, LG Innotek, an electronics
component subsidiary of LG Group, plans to invest one trillion Won (US$835.8
million) by 2012 in LED (Light Emitting Diode) package production, also
according to The Korea Herald. LG Innotek's LED manufacturing facility will be
located in the same Paju complex as LG Chem's LCD glass plant. The new LED
facility is expected to manufacture LED chips for use in LED backlights. Sales
target for LG Innotek's LED facility is set at 1.5 trillion Won (US$1.3
billion) by 2012.