LG Chem Ltd. to build $1.8 bln IT plant for LCD panels in S Korea

17:12, March 15, 2010      

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LG Chem, Ltd., the largest South Korean chemical company, announced Monday its plan to build a 2 trillion won (1.8 billion U.S. dollars) plant for materials used in liquid crystal display (LCD) panels in South Korea.

The plant will be built in Ochang, located 95 km south of Seoul, covering 356,000 square meters, with the help of the North Chungcheong provincial government, the company said, adding it expects to create more than 3,000 new jobs.

The company said construction will begin next month but details on when it will be finished have not been announced.

Last year, LG Chem was the world's largest producer of thin film transistor liquid crystal displays (TFT-LCD), a variant of liquid crystal display (LCD) panels, according to the company.

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