– Merck, a TFT-LCD manufacturer from Germany, has decided to build manufacturing and R&D facilities for the next-generation liquid crystal products in Pyeongtaek’s Poseung Industrial Complex investment as a result of the province’s continued effort. The MOU was finalized between the company’s vice-president Dr. Thomas Schreckenbach in charge of the chemical business and all operations in Asia and Gyeonggi Provincial Governor Sohn Hak-gyu with the presence of the president Bernhard Scheuble in Merck Headquarters in Germany.

○ Merck manufactures liquid crystal, which is the basic material for medicines, colors, life science, precision chemistry, and TFT-LCD, and it is the world’s biggest company in the sector. Steady supply of liquid crystal by Merck will positively contribute to advancement of Korea’s major display manufacturers striving to lead the international TFT-LCD market.

○ The contract that specifies additional investment of $10 million by Merck on the next generation liquid crystal manufacturing facilities will provide LG Philips and Samsung Electronics with proximate supply bases to better the price competitiveness in the international market.

○ Merck has been running R&D, manufacturing, quality control, and marketing businesses at Merck Advanced Technology that was established in Pyeotaek’s Poseung Industrial Complex in 2000. Gyeonggi-do had persistently engaged itself in a persuasion effort since it became aware of the company’s plan for additional investment in Asia. The province strived to “convince the Headquarters management that Poseung Industrial Complex connected with Pyeongtaek Port was the Northeast Asia’s industrial hub that guarantees demand not only by LG Philips and Samsung Electronics, but also by China and Taiwan. The provincial governor’s personal visit to Germany for the purpose of expressing Gyeonggi-do’s plan for the provincial support hit the nail on the head.”

– The provincial governor Sohn Hak-gyu stated, “Gyeonggi-do now houses some thirty companies including LG Philips, an LCD equipment manufacturer Ulvac, and materials companies Chisso, Nico Material, Hitachi Metals, Mikuni Color and ASE along side with Merck. This coincides with the province’s goal of making the TFT-LCD sector one of the founding stones for the nation’s economy for next ten years. Gyeonggi-do will put focus on knowledge-based industries such as bio R&D in 2005 to solidify the ground for development in next 50 years. It will house a number of foreign companies to support the growth of related industries in Korea” in the interview after signing the MOU.