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Nippon Electric Glass (NEG), a Japan-based manufacturer of glass for LCD, has decided to invest a total of $500 million to build an OLED glass substrate plant in Dandong Foreign Investment Zone, located in Paju City, Gyeonggi Province.
Gyeonggi Governor Kim Mun-su met President of NEG Masayuki Arioka in Tokyo, Japan in mid-May to ink a memorandum of understanding on investment.
NEG, the world's third-largest manufacturer of glass for LCD, plans to start production of OLED glasses as early as next year.
With the investment enticed from NEG, worldwide manufacturers holding
original technologies of glass for LCD, including Schott, Coning, Asahi Glass
and AvanStrate, have all made inroads into the Korean market.
In addition, Gyeonggi signed another memorandum of understanding on an additional $75 million-investment to establish a R&D center with Tokyo Electron, a Japanese manufacturer of semiconductor equipment, which built its production facility in Jangan Industrial Complex, located in Hwaseong City, Gyeonggi Province in 2006.