The industrial materials maker SKC launched SKC Lighting, a light-emitting diode maker, on Wednesday.
The new subsidiary was formed by merging the LED makers Sumray Corp. and Dooyoung.
SKC entered the LED market by acquiring Sumray in January 2010, and acquired Dooyoung in April.
At the launch ceremony SLC Lighting chief executive Lee Hak-hee said that the company aims to become one of the world’s five largest LED lighting manufacturers by 2020.
SKC said that the new subsidiary would mainly produce key LED components including switched-mode power supply units, lenses and heat radiating materials.
The company added that SKC Lighting will also collaborate with small and medium-sized enterprises in research and development, and in expanding into overseas markets as part of its ongoing efforts to support smaller firms.
In June the company and the Korea LED Association signed an agreement with Japan’s Decoration LED Lighting Spread Association to collaborate in developing the LED industry. The company said that it is currently working on a 10 billion won ($9.3 million) deal to export local SMEs’ LED products to Japan.
By Choi He-suk (firstname.lastname@example.org