Merck Korea’s head Michael Grund said Monday the company was confident of success in the burgeoning flexible display market with its “full-step approach.”

Grund said at a press conference in Seoul that “for the development of flexible and bendable displays, not only liquid-crystal display and organic light-emitting diode technologies, but other parts and materials like transistor and organic chemistry should also be developed.”

Unlike its rival companies focused on one or two materials, Merck has adopted a system to develop diverse materials for products, developing competency in the display market, he said.

Asked about the secret of Merck’s success, he referred to its family-owned structure. The Merck family holds 70 percent of total shares.

“This allows the company to have a long-term view when making business strategies. When signing a contract, Merck usually has (done so) for 30 years,” the managing director said.

The reason the company still maintains both pharmaceuticals and chemicals businesses is because the family puts an emphasis on diversity and coprosperity, he said.

At the event, Merck Korea unveiled its fifth calendar featuring works by a local artist. The calendars featuring Hong Jie-yeun’s paintings will be distributed around the world via Merck’s global network. Grund said he hoped “this will contribute to the advancement of the country’s culture and arts.”

By Shin Ji-hye (shinjh@heraldcorp.com)