[Korea.net News, Economy / Industry, February 15 2008] Merck to set up research center in Korea

Merck KGaA, the German maker of liquid crystals used in flat-panel televisions, said Friday (Feb. 15) it will open a research and development center in Korea as the company strives to meet the nation’s increasing demand for crystals.

Merck will spend 14 billion won ($14.8 million) to open the center in Poseung, 70 kilometers south of Seoul, where its plant is located, the company’s Korean unit said in a statement.

The investment "was the right decision to meet the growing demands of the expanding Korean LCD industry," said Andreas Kruse, head of Merck’s Korean unit, in the statement.

Korea is home to the world’s top two manufacturers of liquid crystal display panels, Samsung Electronics Co. and LG.Philips LCD Co.