Posted on 09/02/2023 4:37:29 AM PDT by FarCenter
U.S. glassmaker to boost South Korean production for foldable phones
SEOUL -- U.S. specialty glass producer Corning will invest $1.5 billion in South Korea to increase supply capacity for products including ultrathin, bendable glass used in Samsung Electronics' foldable smartphones.
Corning CEO Wendell Weeks announced the investment at a ceremony on Friday celebrating the 50th anniversary of the company's entry into South Korea.
Corning's South Korean production hub is in Asan, adjacent to a major Samsung display division facility.
Corning started its South Korea business in 1973 by building a joint venture factory with Samsung to produce glass for television picture tubes. As the industry shifted to liquid crystal displays, Corning continued to supply glass to Samsung.
Their business relationship continued after Corning bought Samsung's stake in the joint venture in 2014 and made it a wholly owned subsidiary.
(Excerpt) Read more at asia.nikkei.com ...
Who is going to buy cellphones when the “You will own nothing and be happy” people have their way?
Note this bit...
...He said South Korea will become a global bendable glass manufacturing hub....
We have been assured that the Democrats under Biden and the RINOs too that "reshoring" of production would result. And this news? Investment in South Korea and India, alongside other news of multi-nationals investing in other nations' economies. Yup.
Did anyone tell “Joe?”
You will be forced to posses and carry at all times a government approved phone that has continuous GPS tracking and government approved apps that will only allow you to purchase government approved foods and allow you to receive government texts that contain your daily orders for what you will be approved to do.
You may be allowed to talk or text a friend or relative after government approval but only when a government employee is available to listen or look in to ensure you say only government approved speech.
Isn’t that special. How much is Corning investing in America?
Wendell is a gloBULList, but most corning JVs are more for local domestic use rather than the open market to compete wi them
In 2022 Corning US sales were $5,149 M and assets were $8,937 M, while global sales were $14,805 and assets were $20,973.
I can’t think of a US customer for Corning display glass. Glass for displays migrated to Asia when the US television set industry was replaced by the Japanese back in the ‘80s. I don’t think there are any significant manufacturers of displays in the US.
Corning is just investing in plants near its customers.
Well as long as it’s Free, okay
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.