The very first seventh-generation LCD photo mask manufacturing plant will settle in the Hyeongok Industrial Complex in Pyeongtaek. 
　 
Nitto Denko, a Japanese LCD component company, has agreed to invest about 80 million dollars in the Hyeongok Industrial Complex and establish its own factory. The continuous flow of foreign investments made by Japanese companies is expected to boost current plans of constructing a LCD industrial cluster. 
　 
The Gyeonggi-do party currently in Japan to induce high-tech enterprises has announced that HOYA, a Japanese enterprise, has agreed on Feb. 18 to establish a LCD photo mask factory in Hyeongok Industrial Complex. 
　 
The party explained, “During our stay in Japan, we have successfully concluded a LOI (letter of intent), which can actually be regarded as an investment agreement.” 
　 
HOYA agreed to invest 70 million dollars on about 10,000 pyeong of the Hyeongok Industrial Complex, actual production is expected to start in second quarter of next year. A R&D base will also be built with the factory. 
　 
HOYA currently manufactures and supplies LCD photo masks to Samsung Electronics Co., Ltd.. The establishment of a seventh-generation line will enable export from Pyeongtaek to Taiwan, Japan and other countries. 
　 
The party also concluded a MOA (Memorandom of Agreement) worth 10 billon yen (about 100 billion won) with Nitto Denko to construct a LCD polarization film factory in Hyeongok Industrial Complex. 
　 
Nitto Denko has secured about 22 thousand pyeong of land and construction will start next month. About one thousand are expected to be employed. 
　 
Nitto Denko currently takes up 40% of the Korean market share and polarization films for TFT-LCD are supplied by Hanguk Nito Optical Co. Ltd.. 
　 
Since the party first day in Japan on Feb. 16, it has already settled investment plans worth about 100 million dollars and concluded LOIs worth about 130 million dollars. 
　 
Japanese company, Sumitomo has already decided to invest in Pyeongtaek in November last year, and other major Japanese LCD companies, ALVAC, Nitto Denko, HOYA and more, are planning to move in. The establishment of the LCD industrial cluster connecting Paju~Pyeongtaek is rapidly giving shape. 

Source: The Kyeongin Ilbo, February 19, 2004