Samsung Display’s subsidiary Samsung Corning Advanced Glass will sell its factory in Gumi, South Korea to a Chinese company.
The company held a board meeting last week and decided on the matter, TheElec confirmed on Monday.
Samsung Corning has two factories in South Korea __ one in Gumi and another at Asan.
Gumi facility has been producing target materials which are used to make thin films to coat displays and solar panels with.
In displays, it is used to coat liquid crystal displays, organic light emitting diode (OLED) and touch screen panels.
Samsung Corning Advanced Glass acquired the target business from Samsung Corning Precision Materials back in 2014.
The company’s Asan facility produces glass for OLEDs. A person familiar with the matter said Samsung Display wants to focus on OLED and this is the reason why it is selling the Gumi factory.