Merck may spend 200 million euros for next 5 years to expand facilities in Korea

Merck Electronics may invest over 200 million euros for the next five years in South Korea to expand its facilities in the country.

The firm had agreed with Gyeonggi Province to expand investment and foster talents in semiconductors and displays together on Tuesday.

Merch Electronics CEO Kai Beckmann said the firm intends to continue to offering support to its customers in South Korea.

Governor Lee Jae-myung said he hoped for co-growth with the Germany company.

In October last year, Merk Electronics agreed to spend over 20 million euros to build a OLED material factory and liquid crystal display testing factory at Pyeongtaek.

Merck Electronics is a business unit of Merck that oversees materials for semiconductors and displays.

It currently has six research and manufacturing facilities in Gyeonggi Province with  800 employees. For the whole of South Korea, the business unit has 11 facilities with 1,350 employees.