LG Chem, UDC partner on OLEDsLG Chem will be cooperating with Universal Display Corporation (UDC) to develop an advanced organic light-emitting diode (OLED) component.
The largest chemical company in Korea announced in a statement Wednesday that it signed a strategic partnership with UDC to co-develop the next generation emissive layer, a key light-generating component for OLEDs.
UDC, based in Ewing, N.J., is a leading global OLED developer and manufacturer that has supplied its technology and materials to companies like Samsung and LG.
OLEDs consist of several layers including an emissive layer that emits light. The emissive layer is composed of dopant materials that emit distinct colors and host materials, which help dopants emit the light as needed.
Under the agreement, LG Chem will provide host materials while UDC supplies dopant materials. The two will work together to find the best combination.
The two companies are partnering as LG Chem’s host materials are known to have long life spans, while UDC makes long-lasting, highly efficient phosphor dopants.
“As the two best companies in their respective fields collaborate, the synergy is expected to be very big,” said Yoo Ji-young, vice president of LG Chem’s advanced materials division, in a statement.
“In line with the expansion of the OLED market, we will produce emissive layers with greatly enhanced wide-color gamut performance and provide them to our customers on time.”
According to market tracker IHS Markit, the global OLED market is expected to grow from the current $1.04 billion to $1.3 billion by 2022.
Before signing the agreement with UDC, LG Chem acquired technology reportedly worth more than 200 billion won ($165.5 million) to produce soluble OLEDs from U.S. chemical firm DuPont in April.
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