Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Samsung Electronics Halts 'Samsung City' Project
May 20, 2004
 Printable format
 Email this Article
 Search

Samsung Electronics Co. has given up a plan to build "Samsung City" south of Seoul in the face of opposition from government agencies wary of a favoritism dispute, company and government sources said.

Earlier this year, Samsung proposed building a 3.23-million-sq-m industrial city in Tangjeong, South Chungcheong Province, about 100 km south of Seoul.

In the proposal sent to the Ministry of Construction and Transportation, Samsung said Samsung City would house 1.39-million-sq-m liquid crystal display (LCD) manufacturing facilities and 1.85 million sq m of residential, commercial, and urban areas.

In response, however, the ministry and the provincial government turned down the Samsung City project, saying it could trigger a controversy over huge development profits in the favor of the conglomerate, which is South Korea's largest.

In a revised proposal recently sent to the provincial government, Samsung said it would only build LCD manufacturing facilities in Tangjeong and expand the complex's size to 2.15 million sq m.

Under the new plan, the LCD park would be designed to house LCD production plants, including a Samsung-Sony joint-venture LCD factory, dormitories and schools. Samsung intends to pour in 20 trillion won (approx. U.S. $16.98 billion) to build four seventh-generation (7G) LCD production lines in the complex.

The Samsung Tangjeong park, according to the proposal, would churn out LCD panels for televisions from early 2005, before being completed in 2009, with annual sales expected to mark 10 trillion won.

No official government response has been given to the new proposal. (Yonhap)

Back to Daily News

 

Daily News

...........................................................

Nov 21, 2014: Electrolux: new U.S. fridge efficiency requirements are more complex than anticipated

Nov 21, 2014: Whirlpool brand launches Perceptions of Care video

Nov 21, 2014: Hon Hai 3Q profit $1 billion

Nov 21, 2014: Environmental Product Declarations for aluminum product types released

Nov 20, 2014: Report: Drop in affluents' consumer confidence may foretell signal trouble ahead for some retailers

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

November 2014: U.S. Appliance Industry: Market Value, Life Expectancy & Replacement Picture 2014
October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows