Cheonan, South Korea – Chungnam Province has announced that its Cheonan-Asan display small and medium enterprise (SME) materials, parts, and equipment (MPE) specialized cluster has been recognized as an outstanding cluster in the 2024 SME MPE Specialized Cluster Performance Sharing Conference hosted by the Ministry of Trade, Industry, and Energy.

Located within five existing industrial complexes and one new complex in Cheonan and Asan, the cluster has attracted over 90 domestic and foreign partner companies, with Samsung Display serving as the lead company. Samsung Display has pledged to invest an additional 4.1 trillion won by 2026 to bolster its position in the small and medium-sized information technology (IT) organic light-emitting diode (OLED) market. This significant investment is expected to solidify Chungnam Province's status as a global leader in display technology.

To further enhance the region's technological competitiveness, the provincial government is actively collaborating with local SMEs to develop five core domestic technologies and establish a testbed for display materials. These initiatives aim to reduce reliance on foreign suppliers and promote self-sufficiency within the supply chain.

[Copyright (c) Global Economic Times. All Rights Reserved.]