Universal Display Corporation (NASDAQ: PANL), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, today announced that the company is forming a South Korean subsidiary to better serve and support the needs of its current and potential partners and customers, including South Korean OLED display and lighting manufacturers.
The new subsidiary, Universal Display Corporation Korea, Inc., will be headquartered at Jinmi Paragon #315, Yeouido-dong 13, Yeongdeunpo-gu, Seoul, Korea 150-870. The company’s Korean office is managed by Mr. Daniel Koh, Global Key Account Manager, Korea.
“Our UniversalPHOLED phosphorescent OLED technology and materials are key for manufacturers who want to make and sell energy-efficient, environmentally-friendly and high-performance OLED display and lighting products. The OLED market, estimated to exceed $1 billion this year and to grow at a significant pace over the next few years, has much of its existing and anticipated OLED manufacturing base located in Asia,” said Dr. Sui-Yuan Lynn, Director of Asian Operations at Universal Display. “This new subsidiary in South Korea is an important next step to expand our presence in Asia and to better position us to serve each of our display and lighting customers in this region with our portfolio of proprietary OLED technologies, including our state-of-the-art UniversalPHOLED materials and technology.”
Universal Display is the recognized leader in phosphorescent OLED technology and materials. With a comprehensive patent portfolio and technical expertise that covers these and other OLED technologies worldwide, Universal Display licenses its state-of-the-art OLED technologies, sells its proprietary UniversalPHOLED materials, and provides customized technology development and transfer services to serve the specific needs of its OLED display and lighting customers. The formation of this new Korean subsidiary will enable the company to provide enhanced technical and sales support to its customers in the region and to better meet the needs of the growing OLED marketplace.