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Corning Incorporated committed $1.5 billion over five years, spotlighting South Korea as its global hub for pioneering bendable glass products, marking 50 years since its inaugural facility in the region.
According to The Korea Economic Daily, Corning's move to manufacture its ultra-thin glass product in Korea made the region its global bendable glass manufacturing hub. The American firm, known for its damage and scratch-resistant Gorilla glass, has built its first integrated supply chain to produce next-generation, bendable glass in the home of tech giants - Samsung and LG Electronics.
Corning is planning to put in about $1.5 billion in investment for five years, and this was confirmed by the company's chairman and chief executive officer, Wendell Weeks, on Thursday, Aug. 31. In a news conference that was held in Seoul, he also revealed that mass production of advanced foldable substrates has started under a 5-year investment plan. This press event was organized as Corning celebrates its 50th year since establishing its first production facility in South Korea.
"Today I am excited to announce that we are building the world's first fully integrated supply chain to manufacture next-generation bendable glass technology right here in Korea," The Korea Times quoted the Corning CEO.
While referring to Corning's new production facility for the bendable glass in Asan, South Chungcheong Province, Weeks added, "I hope this is just the first of what will become a new platform in many different locations around the world."
He explained further why Corning decided to invest more in the territory: "Korea is one of our manufacturing and technology centers to serve the entire globe. Second, one of our values is to be located in the same region and close to the most innovative customers in the world and most importantly the reason is that we have 3,000 tremendous, dedicated and talented people here to make this very challenging technology a reality."
Photo by: Onur Binay/Unsplash
