Oct 31, 2003 SEOUL, Korea--(BUSINESS WIRE)--Oct. 30, 2003--Samsung Electronics Co., Ltd., the world's largest provider of TFT-LCD display panels, today announced the groundbreaking of its new TFT-LCD production complex at Tangjeong, in ChungCheongNam-Do, Korea. This site is the world's largest TFT-LCD production facility and will cover over two million square meters (some 498 acres) when fully completed. The world's first 7th generation TFT LCD line, the first of four lines planned for this complex, will begin mass production in 2005.
More than 1,000 people attended the groundbreaking ceremony, including Samsung Electronics Vice Chairman Yun Jong-yong, Samsung Electronics President Lee Yoon-woo, and Korean government dignitaries.
According to Vice Chairman Yun Jong-yong, "The Tangjeong operation will feature the world's first 7th generation production lines with substrates measuring 1,870mm by 2,200mm -- over two square meters. The facility at Tangjeong will make ChungCheongNam-Do home to the world's largest production complex for next-generation displays, giving PC monitor and TV OEMs access to a ready supply of flat panels."
Samsung envisions the formation of a world-class "liquid crystal valley" in this region, which will play a key role in sustaining the company's leadership in the panel display industry. Over the next decade, Samsung will invest 20 trillion Korean Won to build four production lines and expects to generate up to 20,000 new jobs. Upon completion in 2010, annual output will exceed 10 trillion Korean Won and a compound revenue of 48 trillion Korean Won will be achieved.
Samsung Electronics has remained the world's largest TFT-LCD maker since 1998. When the Tangjeong complex ramps mass production in 2005, company officials expect to manufacture 40 percent of the world market for LCDs used in televisions.
About Samsung Electronics
Samsung Electronics Co., Ltd. is a global leader in semiconductor, telecommunication, and digital convergence technology. Samsung Electronics employs approximately 75,000 people in 89 offices in 47 countries and business performance for 2002 record 49.6 billion US$ in sales and 5.9 billion US$ in net income. Samsung Electronics is the world's leading company of advanced semiconductors, TFT-LCDs, CDMA mobile phones, monitors and VCRs. Samsung Electronics consists of four main business units: Device Solution Network, Digital Media Network, Telecommunication Network and Digital Appliance Network Businesses.
The Device Solution Network specializes in semiconductors, TFT-LCD displays and data storage medium for industrial, mobile and advanced computing applications, offering a full line of key solutions of DRAMs, SRAMs, Display Driver ICs, Smart Card ICs, TFT-LCD panels and Flash memories. The Device Solution Network operates overseas sales subsidiaries and mass production facilities to maximize on hand customer support. For more information, visit our website at http://www.samsungsemi.com.
Samsung Semiconductor Inc., a wholly owned U.S. subsidiary of Samsung Electronics Co., Ltd., is located in San Jose, Calif. More information can be found at http://www.usa.samsungsemi.com/
Samsung Semiconductor Europe, a wholly owned subsidiary of Samsung Electronics Co., Ltd., is headquartered in Frankfurt, Germany and London, UK with sales offices all over Europe. More information can be found at http://www.samsungsemi.de
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