À̹ÌÁö È®´ë [Photo provided by SK Materials Co.]
South Korea¡¯s SK Materials Co. is expanding to OLED materials in partnership with Japan¡¯s JNC Corporation.
The two firms have agreed to set up a joint venture, tentatively named SK JNC Co., to manufacture and market OLED materials, SK Materials disclosed on Tuesday.
SK Materials said it will own 51 percent and its Japanese partner 49 percent stake in the joint venture. The initial capital is set at around 48 billion won ($43 million), and the firm will be headquartered in Korea.
On Wednesday, the shares of Kosdaq-listed SK Materials gained 1.68 percent to 259,500 won in Seoul.
JNC is a chemical company engaged in producing display materials and electronic components. It has an exclusive patent for blue dopant, one of key elements for improving the efficiency and lifetime of OLED displays.
Global OLED materials demand has been growing rapidly as OLED displays quickly replace LCDs. According to industry tracker IHS Markit, the global OLED materials market size is estimated to reach 5.5 trillion won in 2025, doubled from this year.
SK Materials and JNC plan to have the joint venture focus on the blue dopant business in the initial stage, then expand out to next-generation OLED materials development. They have secured a lot for JV¡¯s production plant in Dongtan, south of Seoul. The construction is expected to start early next year.
SK Materials expects its latest partnership would help ease Korean firms¡¯ dependence on OLED materials imports.
By Pulse
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