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Samsung Electronics Co., Ltd. announced the groundbreaking of its TFT-LCD production complex at Tangjeong, in ChungCheongNam-Do, Korea. According to the company, the site is the world's largest TFT-LCD production facility and will cover more than 2 million sq m (498 acres) when fully completed.
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 1,870 mm by 2,200 mm -- over 2 sq m. 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 (approx. U.S. $16.9 billion) to build four production lines and expects to generate up to 20,000 new jobs. Upon completion in 2010, the company says that annual output will exceed 10 trillion Korean Won and that a compound revenue of 48 trillion Korean Won will be achieved.
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.
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