Korea launches touch screen industry forum to help domestic manufacturers grow worldwide

Korea launches touch screen industry forum to help domestic manufacturers grow worldwide

The Korean government has established a forum for touch screen manufacturers in the country, aimed at encouraging cooperation and boosting their global businesses. The move is part of the country’s wider goal to become the world’s second larger touch screen supplier by 2020.

The organization was launched by the Ministry of Trade, Industry and Energy today, as the Yonhap News Agency reports. Initial members include large firms like Samsung Display — a business owned by Samsung — and LG Display, in addition to some 120 small and medium touch screen manufacturers.

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The group’s first seminar is slated to be held before the end of June, with a follow-up likely to happen in the final part of this year.

The ministry is aiming to develop a joint strategy to boost the domestic touch screen industry’s presence worldwide, but first the forum will assess the global market to identify opportunities.

In addition to being the world’s largest smartphone maker, Samsung is also a prolific producer of smartphone components through its many affiliate businesses. Unlike Apple, Microsoft and others, it produces its devices in-house, rather than via outsourced partners like Foxconn.

Korea’s touch screen industry gained more attention last month when Intel Capital, the chipmaker’s VC arm, invested an undisclosed amount in Daejeon-based Zinitix.

Headline image via Thinkstock

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