The German tech company Schott AG inaugurated a plant in central South Korea on Thursday that will produce glass substrates for use in liquid crystal display (LCD) panels.
The US$144 million factory in Ochang, a town about 130 kilometers south of Seoul, will start mass production in August, the company said in a statement.
The plant, launched in cooperation with Japan's Kuramoto Seisakusho Co., will supply LCD substrates mainly to local major flat panel manufacturers such as Samsung Electronics Co. and LG.Philips LCD Co., Schott said.
The opening comes after a joint venture, Schott-Kuramoto Processing Korea, was formed in November 2005 as part of the two companies' efforts to strengthen their presence here and in other Asian markets. Schott holds 75 percent of its shares and Kuramoto 25 percent.
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