LG Invests in Electronics Joint Venture in East China

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Last updated at: (Beijing Time) Sunday, January 13, 2002

LG Invests in Electronics Joint Venture in East China

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South Korea's LG Micron Ltd. recently signed an agreement on establishing an electronics joint venture in Fuzhou, capital city of East China's Fujian Province, to produce high-definition masks for color display tubes.

According to the agreement, LG Micron, Fujian Electronics and Information Industry Group and a Taiwan businessman will jointly invest 70 million U.S. dollars to set up the new company, namely LG Micron Electronics Co., Ltd.

LG Micron will contribute 80 percent of the investment, while the local electronics group will contribute 15 percent, and the Taiwanese five percent.

Products of the project, mainly color tube masks and some minorelectronic components, will be supplied to a local display tube company.

At present, major producers of color tube masks in the world include LG Micron and three Japanese companies, which together occupied 95 percent of the global market.