Merck, a multinational science and technology company headquartered in Darmstadt, announced on Wednesday that it signed an MOU together with Gyeonggi Province to inject about 25 billion won (around $17.6 million). The agreement aims to expand Merck’s production facility for organic light-emitting diode (OLED) manufacturing in Poseung, Gyeonggi Province.
The move came as Merck aims to expand its OLED manufacturing capacity in Asia to sustain the growing demands for high-purity OLED materials.
Merck’s investment would focus on establishing a modular production system for a supplementary OLED sublimation purification facility. Also, the company would extend its OLED manufacturing facility in Poseung-eup.
The process of OLED sublimation purification ensures an output with the highest OLED quality and lifespan of materials. Merck’s increased production capacity would strengthen its position as a supplier of high purity OLED materials in South Korea.
Kai Beckmann, Merck’s Executive Board Member and CEO Performance Material, said that the company feels proud of its investment to produce OLED materials in Pyeongtaek. The investment would ensure faster and more efficient production and delivery of OLED materials to the Korean market.
Meanwhile, Merck Korea’s Managing Director Kim Woo-Kyu stated that the company extended its investment in Gyeonggi Province to offer its improved services to large OLED customers. The province’s location also provides an ideal investment because of its proximity to major customers. Besides, Gyeonggi’s good location supports innovative production, SMEs, and universities, and provides excellent human resources.
Continuous Investment in OLED Technology
The company initiated its research and development activities and pioneered OLED material technologies 30 years ago. Merck established its status as a leading OLED materials supplier through its efforts in investing in the technology.
Merck built an OLED research center at its headquarters in Darmstadt, Germany, in 2010. In 2015, Merck erected the OLED application Center (OAC) located in Pyeongtaek. Additionally, its plant in Germany began production of OLED materials in 2016.
Merck Korea includes 11 operation facilities with 1,200 employees and engages in the following businesses: functional materials, health care, and life sciences.
The company’s health care business consists of pharmaceuticals and medical devices for cancer, infertility, and multiple sclerosis treatments.
The functional materials business involves advanced materials for information technology products such as semiconductors, displays, cosmetics, and paints for automobiles. The life sciences business boasts an extensive portfolio used in cell biology, protein research, antibodies, microbiome tests, and water purification.
Merck operates under MiliporeSigma, EMD Serono, and EMD Performance Materials in the US and Canada.
