Corning is to invest $1.5 billion in its South Korean glass manufacturing operations over the next five years.
The speciality glass producer said the investment will help it produce ultra-thin bendable glass products at its Asan factory in South Chungcheong Province to meet the growing global demand for next-generation displays.
The company held an event to commemorate the 50th anniversary of investment in Korea and the establishment of its manufacturing line for ultra-thin bendable glasses at its Asan factory.
The ceremony was attended by prominent figures including Wendell Weeks, chairman and CEO of Corning, Lee Jae-yong, executive chairman of Samsung Electronics, and Kim Tae-heum, governor of South Chungcheong Province.
The South Chungcheong Provincial Office said Corning is investing $1.5 billion in the province from this year to 2028 as it aims to improve its presence in the bendable glass market, which has seen a growing demand from mobile devices and other applications such as vehicles.
Corning produces bendable glasses in Asan which it supplies to Samsung Electronics for use in the latest foldable smartphones.
According to Corning, no other company has created such an integrated supply chain for bendable glass.
