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Friday, 07 March 2014 08:56

Corning to set up shop in South Korea

Written by Fudzilla staff



Samsung can't get enough Gorilla Glass

Corning is planning to transfer production of certain Gorilla Glass products from Japan to South Korea. Corning currently makes Gorilla Glass in Japan and it is planning to transfer production to Asan, South Korea. If all goes according to plan, parts of the Japan facility could be closed by June 2015.

The decision does not come as a surprise, as the New York based glass maker struck a deal with Samsung Display last year. It also acquired Samsung Corning Precision Materials, which was a joint venture between the two companies.

Corning believes "annual synergies" coming from the acquisition of Samsung Corning Precision Materials will be around $100 million a year, possibly even higher down the road. Samsung will get somewhat cheaper glass, Corning will cut operating expenses.

A for workers at its current facility in Shizouka, Japan, it appears that many of them will be out of a job in a year or so. Corning said it is reviewing options available to employees and it says it will treat the employees with "dignity and respect."

Fudzilla staff

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