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South Chungcheong Province (Chungnam) inked a $102 million-investment memorandum of understanding (MOU) with Samsung-Corning Advanced Glass (SCG), a joint venture between US company Corning and Samsung Display.
Under the agreement, SCG will build a glass manufacturing facility for OLED in Asan, Chungnam by 2015.
"The massive investment from SCG is expected to stimulate the regional economy. We will provide all possible administrative supports to help the joint-venture build a factory and start commercial production as scheduled," said Chungnam's Governor Gwon Heui-tae.
Korea has thus far depended on Japan for 100 percent of its OLED glass substrate supplies, a next-generation technology that enables to produce high-resolution displays with sleek design.