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The first Korean LCD-specialized company, LG LCD Co., Ltd., has officially started its business. With its launch, the domestic industry with world-class competitiveness will enter into a new phase.

There was an official opening ceremony at the LG LCD Kumi plant on January 7, 1999. Presiding over the celebration were LG dignitaries Koo, Ja-Hong (Vice Chairman & CEO of LG Electronics Inc.) and Kim, Sun-Dong (President of LG LCD Co.Ltd.). LG LCD began operations immediately following the ceremony.

LG LCD consolidated the LCD division last December, which was previously divided between LG Electronics Inc. and LG Semicon Co.Ltd. This action was taken to enhance competitiveness through business specialization and to create a synergy effect, while proactively coping with the rapid change of the internal and external management environment. LG LCD is the sole domestic LCD-specialized company.

LG LCD is a world-class competitor as can be seen by the projected annual production capacity of 4.7 million units based on the 13.3" TFT-LCD conversion rate, which will make LG LCD the undisputed leader in the worldwide market.

While presenting his opening comment, Mr. Ku, Ja-Hong, Vice Chairman & CEO of LG Electronics Inc, said that "LG LCD has been accumulating excellent technological skills and experience." He also pledged that LG LCD would be the worldwide leader in the LCD market through a corporate attitude of competitiveness and responsiveness to the markets of the world."

Mr. Kim, Sun-Dong announced during his New Year’s message that this year will be the first profitable fiscal year. He also said that the five fundamental business policies of this year will be 1) renovating productivity and profitability, 2) operating a business model centered on profitability, 3) developing a diversified market and strengthening marketing capability, 4) reducing any loss possibly resulted from management line 5) promoting the "Super-A" activity, a renovation movement focused on achievements.


LG LCD set up a plan to be the world-leader in the LCD market by the end of this year aided in part by an improved, stable financial structure with emphasis on reducing the current liability ratio of 230% down to 170% at the end of this year.

Additionally, LG LCD has targeted US$ 1 billion in revenue through additional investment on production facilities needed to cope with the growing TFT-LCD demand and a differentiated marketing activity aiming at new markets like Mainland China.

LG LCD will be composed of two business divisions - LCD Business Division and Software Business Division. Currently, two LCD plants are in operation at Kumi.

LG LCD started its research and development from the GoldStar (now, LG Electronics Inc.) company in 1987 and entered into the TFT-LCD business full scale when the Kumi plant was completed in 1995. LG LCD is remaking its image as a LCD-specialized company so it can achieve its commitment of US$ 1 billion sales revenue within 5 years of full-scale plant operation.