The future is crystal: Samsung

Samsung Electronics will focus its future efforts on developing technologies for plasma display panels and liquid crystal displays, Chairman Lee Kun-hee said yesterday. Mr. Lee was presiding over a meeting with chief executives of Samsung Electronics’ main electronic affiliates at the company’s new industrial complex in Tangjeong, South Chungcheong province. “Displays will be the next big thing following semiconductors and cellular phones,” he said. “Facilities should be expanded to create a world-class ‘crystal valley’” ― meaning a center for liquid crystal display panels. Senior officials presented a blueprint for “Crystal Valley” to Mr. Lee. The plan included investments of 20 trillion won ($17 billion) through 2010 and the creation of about 20,000 jobs. “Timing is essential in investment. Don’t hesitate in increasing facilities,” he ordered. The chairman stressed timing, citing Samsung’s purchase of land for the industrial complex in Cheonan. “Ten years ago, we bought 122 acres. It seemed a lot then, but is now too crowded. Look far into the future. A proper balance of investment between facilities and research and development is what gives a company competitiveness,” he said. The projected “Crystal Valley” encompasses two industrial complexes in Cheonan and Tangjeong, a 10-minute drive apart. The Cheonan complex was established in 1995 as a production zone for display panels. In the new Tangjeong Complex, Samsung will set up three more production lines for liquid crystal displays, making seven in all, creating the world’s biggest display facilities. by Ko Yun-hee