S-LCD, a joint venture company of Sony and Samsung electronics, has signed a memorandum of agreement on foreign investment with Chungcheongnam-do province in Korea.

S-LCD has agreed within this contract that they will invest $1.9bn by the end of 2007 to establish 8th generation LCD production line on the site next to the 7th generation line in the Tangjeon \\$quot;˜crystal valley\\$quot; in Chungcheongnam-do.

Chungcheongnam-do and the city of Asan have designated the \\$quot;˜Crystal Valley\\$quot; in Tangjeon as a \\$quot;˜foreign investment zone\\$quot;. Chungcheongnam-do will support the S-LCD project with various incentives.

The local government of Chungcheongnam-do expects that this project will contribute to the development of the display panel business in Korea and will create more than 1,000 new jobs.