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The South Korean government is to double the size of a liquid crystal display (LCD) industrial park now under construction in Paju, north of Seoul, the Ministry of Commerce, Industry, and Energy said.
The Ministry said it will create a 1.65-million-sq-m park for LCD parts makers next to the LCD plant of LG.Philips LCD, which is now under construction in Paju.
"The industrial complex to be built near the LG.Philips LCD plant will be designed to accommodate about 30 LCD component producers. Thus, the LCD parts manufacturing park would lead to the birth of a huge, 3.3-million-sq-m LCD complex," a Ministry official said.
LG.Philips LCD is now in the process of buying privately owned land under its plan to start construction of the LCD plant in June 2004 and finish in the second half of 2006.
The Ministry and the government of Gyeonggi Province, which surrounds Seoul, will begin next June to sign local and foreign LCD parts makers aspiring to move into the Paju park before completing infrastructure construction there by September 2005, about 3 months ahead of schedule. They will also speed up the construction of support facilities, such as a wastewater disposal plant and industrial water supply systems.
LG.Philips LCD, a flat screen joint venture between LG Group and Dutch group Philips NV, will invest a total of U.S. $10 billion in the new Paju plant. The plant is expected to employ about 5,000 people and generate about 3 trillion won in annual revenues. (Yonhap, Asia Pulse)
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