LG Innotek, a subsidiary of the Korean LG Group, will invest USD100 million to set up a LED project in Zhongkai High-tech Zone in Huizhou, Guangdong province.
This is the second large LED project in Huizhou, following the one developed by the American LED giant Cree.
Yang Pengfei, director general of the management committee of Zhongkai High-tech Zone, told local media that LG Innotek is one of the top LED manufacturers in the world. The new LED project invested by the company includes LED packaging, backlight, and lighting applications. As the initial project for LG Innotek's USD1 billion investments worldwide, the new LED project in Huizhou will be put into production in August 2010 and its annual output will reach USD1 billion.
Yang revealed that when the new project is stable, Huizhou will introduce front-end sectors of the LED industry, including chip and wafer manufactures and related research and development centers will also eventually be settled in the city.
The municipal government of Huizhou also pays great attention to the development of LED industry, as it plans to cultivate five LED enterprises with the output value of CNY1 billion each by 2012, and build at least three provincial technology engineering centers.
Prior to this, the U.S. LED company Cree established China's first large LED chip manufacturing base in Huizhou at the end of 2009. Companies like Ledman Optoelectronic, Unihero LED Lighting Technology, Cooler Master, and TCL Lighting Appliances also settled in Zhongkai High-tech Zone.