Samsung investing in LCD complex

Samsung Electronics Co. will invest 20 trillion won ($17 billion) in the Tangjeong industrial complex in Seosan, South Chungcheong province over the next 10 years to make Seosan a “crystal valley.” “We are going to construct four new production lines in the complex and expect to make 10 trillion won of sales per year beginning in 2010,” Samsung’s chief executive Lee Sang-wan said. He was speaking after a groundbreaking ceremony for a thin film transistor-liquid crystal display complex in Tangjeong yesterday. The number of employees in the complex will be more than 20,000, Mr. Lee added. The complex will produce liquid crystal displays for over-40-inch televisions beginning in 2005, and a line will be built in a joint venture between Samsung and Sony Corp. of Japan. Mr. Lee said Sony would pay half the expected cost, 3 trillion won. But the companies have not yet decided if the venture will build additional lines. “We’re convinced that the larger-than-40-inch televisions will be the world standard size, and that’s why we decided to invest heavily in this complex.” he said. by Kim Sang-woo