the biggest port city in north China

Samsung has so far invested in 11 manufacturing companies in Teda, with an overall investment of 1.6 billion U.S. dollars. Tianjin takes about one third of the group's investment portfolio in China.Tianjin, the biggest port city in north China and a traditional industrial base, is aiming to become the country's third fast-growing area besides the two economic engines in the Pearl River Delta in south China and the Yangtze River Delta in east China.This term sheet is a significant advancement in the commercialization of BluGlass and marks the first steps towards a full customer agreement.

BluGlass, subject to formal documentation, will grant BLK an exclusive license of its Remote Plasma Chemical Vapour Deposition (RPCVD) technology in the Korean marketplace for an initial term of two years. The term sheet also outlines the acquisition of a BLG-150 deposition tool and BLK plans to establish an RPCVD pilot manufacturing plant in Gwangju Technology Park, the centre of the light emitting diode (LED) industry in Korea. The company intends to produce gallium nitride based LEDs on the BluGlass technology to gain access to the major LED manufacturers of Korea.This comes at a very exciting time in the development of our technology as the Korean LED marketplace has enormous potential”, BluGlass CEO Giles Bourne said today.

The Korean government is assisting in developing the country’s semiconductor manufacturing capabilities in both LED and solar manufacture. The government has called the LED industry ‘its next growth engine’ with the commitment of 540.1billion won1 (AUD 542.5 million) to assist in the establishment of eco friendly segments such as LED manufacture over the next five years. The South Korean LED market was worth in excess of USD 1.5 billion in 2006 and is forecast to reach USD 15 billion by 2015. Gwangju is officially designated as South Korea’s ‘LED Valley’ and 70 LED companies are slated to set up shop in the district. This will involve significant spending on manufacture capability including the purchase of new deposition tools and equipment to furbish new fabrication plants.

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