Samsung Expanding Presence in LCD Market in China

SUZHOU, CHINA --(Korea Newswire)--Samsung Electronics Co., Ltd., the world’s leading producer of cutting-edge liquid crystal display (LCD) panels, today held a groundbreaking ceremony for a new 7.5 generation fabrication facility in Suzhou, China, which will become part of China’s largest LCD production cluster.

The facility, which will be constructed by Samsung Suzhou LCD (SSL) with an investment of about US$3 billion, is expected to begin mass production in the first half of 2013. Spanning an area of 600,000 square meters, the new fabrication line will be capable of producing 100,000 glass substrates (1950×2250mm) per month.

SSL was established on April 21, 2011 as a joint venture between Samsung, Suzhou Industrial Park and TCL Corporation. The new venture aims to create synergies by establishing an integrated LCD panel production base in China that leverages the world-class infrastructure within Suzhou Industrial Park and strong backing of TCL, one of China’s leading TV makers.

With the new panel manufacturing facility, Suzhou Industrial Park will become China’s largest advanced LCD production cluster, including materials and components suppliers, LCD panel and module production, as well as distribution.

Samsung Electronics is seeking to establish an integrated LCD manufacturing base in China, the world’s largest market for LCD panels. It will leverage the new fabrication together with its existing LCD module production line in Suzhou to establish a competitive edge in the market.

The groundbreaking ceremony was attended by senior executives including: Ho-moon Kang, Vice Chairman and head of Samsung China; Wonkie Chang, President of Samsung Electronics’ LCD Business; Ma Minglong, Secretary of Suzhou Industrial Park Party Working Committee; and Li Dongsheng, Chairman and CEO of TCL Corporation.

Officials from Korea and China also attended at the ceremony, including: Kyu-hyung Lee, Ambassador of the Republic of Korea to China; Chong-ki Ahn, Korean Consulate General in Shanghai; Luo Zhijun, Secretary of the CPC Jiangsu Provincial Committee; Zhang Xiaoqiang, Vice Chairman of the National Development and Reform Commission (NDRC); and Jiang Hongkun, Secretary of the CPC Suzhou Municipal Committee.

“Samsung Suzhou LCD sets a new precedent as a strategic joint venture between China’s leading TV maker TCL, leading LCD manufacturer Samsung Electronics and the center of the Chinese IT industry Suzhou Industrial Park. Through this investment, Samsung Electronics LCD Business aims to contribute to the development of the LCD display industry,” Wonkie Chang, President of Samsung Electronics LCD Business, said in the commemorative speech.

About Samsung Electronics Co., Ltd.

Samsung Electronics Co., Ltd. is a global leader in semiconductor, telecommunication, digital media and digital convergence technologies with 2010 consolidated sales of US$135.8 billion. Employing approximately 190,500 people in 206 offices across 68 countries, the company consists of eight independently operated business units: Visual Display, Mobile Communications, Telecommunication Systems, Digital Appliances, IT Solutions, Digital Imaging, Semiconductor and LCD. Recognized as one of the fastest growing global brands, Samsung Electronics is a leading producer of digital TVs, semiconductor chips, mobile phones and TFT-LCDs. For more information, please visit www.samsung.com.

Website: http://www.samsung.com/sec

This is a news release distributed by Korea Newswire on behalf of this company.