Taiwanese e-paper display manufacturer PVI (Prime View International) and Korean LCD (Liquid Crystal Display) panel maker LG Display have formed a strategic alliance for e-paper display development, Commercial Times of Taiwan reported on December 29. As per the comprehensive partnership agreement signed by the two companies, LG Display is expected to purchase secured and unsecured bonds valued at US$30.5 million from Hydis Technologies, a PVI unit based in Korea. Furthermore, it is expected that Hydis and LG Display will enter into a cross-licensing deal for technological collaboration. Depending on market conditions, PVI and LG Display may also procure displays from each other. Prior to the present agreement, LG Display signed a contract in May 2009 with E Ink, another PVI unit, for the supply of e-paper materials and technologies.