Asahi Glass Co. plans to spend as much as $500 million to build a plant in South Korea to make glass used for flat panel screens, Korea Economic Daily reported, citing an unidentified government official.
Tokyo-based Asahi plans to build the plant in the city of Gumi, which is southeast of Seoul, the newspaper said. The plant will make glass for liquid crystal displays, the report said.
South Korea is home to the world's two largest makers of LCDs in LG Philips LCD Co. and Samsung Electronics Co. Asahi wants to build the plant to boost its sales to Samsung and LG Philips, the newspaper said. paper's Web site.