Opening ceremony for 3M plant in Hwaseong on August 24, …new plant is expected to provide about 500 jobs

3M Korea has completed the construction of its new LCD brightness improvement film plant in the Jangan Foreign Investment District located in Hwaseong, Gyeonggi-do and the opening ceremony was held on August 24.

President of 3M Korea, Michael F. Roman remarked, “The 3M plant was made possible by the help of the Provincial Governor Kim Moon-soo and many localites. 3M invests only on locations with high possibilities in accomplishment and the Hwaseong site was chosen because it is appropriate in all.”

3M plans to invest up to $6,000 from 2005 to 2009 on a 28,000 pyeong site. A large-scale plant will be established on this site which is expected to produce employment to about 500 people.

Before this, 3M has made a MOU last March, 2005 and discussed the construction of the plant and investment issues. For the time being, the first plant will be operated and the second plant will start construction in November this year and is expected to complete during the latter half of 2006.

The manufacturing facilities completed now will produce polarizing film for LCD brightness advancement, prism sheets and more products.

3M now can produce large quantities of films for LCD TVs through the new plant and expand its position in the LCD TV market. The new plant also is anticipated to promote employment in southwest Gyeonggi-do and thus strengthen national competitiveness.

Provincial Governor, Kim Moon-soo with 3M staff cutting the ribbon at the opening ceremony.