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By Greg Gao

(JW Insights) Jul 3 -- South Korean conglomerate OSTech plans to establish a large-scale liquid crystal module (LCM) binding project in Yueyang, southern China’s Hunan Province, with a total investment of RMB 5 billion ($690 million), the local government said recently.

A delegation led by the OSTech president visited the Chenglingji New Port Area in Yueyang on June 28 to discuss the project details with the local government.

The project’s expected annual output value is around RMB5 billion ($690 million). It will introduce LCM binding equipment from South Korea and establish a production demonstration base for large-size LCMs, with an annual capacity of 12 million pieces of LCD OpenCell displays.

The Chenglingji New Port Area focuses on the development of industries such as electronics and information, new energy materials, advanced equipment manufacturing, grain and oil processing, and modern logistics.

In 2019, it successfully attracted several Fortune 500 companies, including Huawei, Evergrande, and Chilwee, according to the local government.