Tech giant invests 20 million euros in Pyeongtaek factory
Merck Korea announced on June 9 that it had completed the expansion of the organic light-emitting diode (OLED) manufacturing capacity at its Poseung site in Pyeongtaek, Gyeonggi Province.
Merck said that it had invested around 20 million euros (25 billion won) in installing sublimation equipment and OLED vacuum deposition units at its OLED Application Center in Korea.
The opening ceremony was held on June 8. Included in the participants were Gyeonggi Province Director-General Jung Do-young and Pyeongtaek City Deputy Mayor Choi Won-yong.
“Korea is an important innovation and production hub for Merck. As the OLED market continues to grow not only in TV and smartphones but also in various mobile applications such as tablets and laptops, we believe this investment will support our customers to drive innovations in the display industry faster and more efficiently,” said Michael Heckmeier, chief of Display Solutions in Merck.
“With the operation of the new sublimation units and vacuum deposition equipment, we can now quickly respond to customer requests and demands in Asia and contribute to the development and reliable supply of materials for advanced, high-purity OLED panels that are much in demand.”
Merck Korea Managing Director Kim WooKyu emphasized the significance of the OLED market here.
“Korea leads the global OLED market with more than 80 percent market share. As a leading electronic materials supplier globally, Merck is committed to supporting the Korean panel makers in leading the market by providing a strong, reliable supply network of display materials,” he said.
“With the newly completed vacuum deposition units, we are pleased to introduce the latest technologies in Korea, ensuring fast delivery of innovative materials and solutions to our Korean customers and partners.”
Gyeonggi Province Director-General Chung noted that the Merck investment was very meaningful in the process of the display market transitioning from the LCD to the OLED industry.
He is in charge of the economic planning of the province, which surrounds the country’s capital Seoul.
Merck expected that its investment would help ease the supply chain disruptions caused by COVID-19 in the fast-growing OLED market.
The company added that the investment had something to do with the environment _ by building the shortest supply routes, it strived to cut down on product carbon footprint.
Merck has been a trailblazer in the OLED industry by working on the technology for over two decades. Home to Samsung Electronics and LG Display, Korea has been one of the key countries for its investments.
For example, Merck spent some 600 million euros last year to expand the production footprint and boost research as part of its “Level Up” growth program.