SEOUL, NNA - Japanese liquid crystal maker JNC Corp. will establish a joint venture with South Korea's SK Materials Co. early next year to develop and manufacture organic electroluminescence materials for display panel makers.
JNC will set up a wholly-owned subsidiary, SK JNC Japan, in Ichihara, Chiba Prefecture, in December before SK Materials creates its own subsidiary, SK JNC, in January, the Japanese firm announced Tuesday.
JNC will turn over all SK JNC Japan's shares, organic EL patents and commercial rights to SK JNC in return for a 49 percent share in SK JNC, whose 51 percent stake will be held by SK Materials.
SK JNC, the joint venture, will supply organic EL materials to South Korean panel makers while SK JNC Japan, as the joint venture's wholly-owned subsidiary, will step up efforts to meet the needs of Japanese customers, Tokyo-based JNC said. (NNA/Kyodo)