LG invests in new production plant for LEDs, LCDs
LG Group plans to spend about 4 trillion won (about $3.34 billion) on a major plant for making liquid-crystal display (LCD) glass substrates and LEDs in Paju, Gyeonggi Province, Korea, according to an article in The Korea Times. The new, 840,000-square-meter manufacturing facility, which will begin producing LED components and materials next year, and LCD glass in 2012, will be critical in LG's plans to exploit the sharply increasing demand for next-generation display and lighting technologies, company officials said.
LG Innotek, the company’s LED-related subsidiary, will invest around 1 trillion won through 2012. LG Innotek will use the new facility to produce LED BLUs and lighting components, with the first products to be rolled out next May.
The plant will eventually boost the company's production capabilities of LEDs by four times the current level, said the company, which plans to generate 1.5 trillion won ($1.25 billion) in LED revenue and acquire 10 percent of the global market in LED packages by 2012.
The clear focus is on LED BLUs, which will be used in the large-size LCD televisions and monitors produced at LG Display's LCD cluster.
An LG executive said that the new plant will allow LG to establish a one-stop manufacturing solution for next-generation technologies, including R&D, components and equipment, and LCD panels. "LG Chem and LG Innotek will produce glass substrates, and LED components such as LED backlight units (BLUs), while LG Display produces LCD panels at the LCD cluster. The mass production of LCD glass substrates and LEDs will allow LG to establish a stronger position in the components and materials industry and also improve its competitiveness in displays and mobile phones."
