LG Display, Idemitsu agree to develop OLED materials

SEOUL, June 24 (Yonhap) -- Flat-panel giant LG Display Co. said Wednesday it has tentatively agreed with Japan's Idemitsu Kosan Co. to jointly develop new luminous materials for organic light-emitting diodes (OLED).

The two companies signed a memorandum of understanding (MOU) on the joint
development as well as the mutual use of each company's OLED-related patents, the
South Korean company said, without saying when a formal contract will be inked.
OLEDs use organic materials that emit light when an electric current runs through
them. They allow for high-quality color reproduction and respond quickly to
moving images. Display panels can be made much thinner using OLEDs, as they do
not require a back-light system.
Idemitsu developed the world's brightest blue-light organic luminous material in
1997, based on its molecular engineering and organic synthesis technologies.
LG Display, the world's second-largest display maker, has been working on
developing new technologies for mid- and large-size OLED panels for TVs and
laptop computers.
Britain-based market researcher DisplaySearch has forecast that the global OLED
display market will reach US$1.05 billion in 2009 and grow to $3.33 billion by
the end of 2010.