Asia Express - Display
LG to Invest US$3.3 Bln in LCD Glass, LED Manufacturing Complex in Paju
September 26, 2009
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.