Transforming Korea into ‘Bendable Glass Hub’
Global glass manufacturing company Corning, which has an annual revenue of 20 trillion won (US$15.09 billion), is expanding its thin glass production hub in South Korea. Thin glass is gaining attention in the mobile industry as an essential component for foldable phones. This move is seen as a choice to support Samsung Electronics, which leads the global foldable market.
During the “Korea Investment 50th Anniversary Press Conference” held at The Shilla Hotel in the central Jung district of Seoul on Aug. 31, Wendell Weeks, chairman of Corning, said, “Corning will establish a fully integrated supply chain in South Korea for the production of thin bendable glass.” He further emphasized, “South Korea will position itself as a hub for the production of thin bendable glass,” highlighting the significance of this investment.
Chairman Weeks had previously hinted at investment in South Korea. During President Yoon Suk-yeol’s visit to the United States in April, he mentioned an additional investment of US$1.5 billion in South Korea. This announcement is a part of it.
Corning’s thin foldable glass to be produced in South Korea is referred to as “flexible glass.” This type of glass is one of the varieties used for display cover windows. It plays a crucial role in protecting the display screens of electronic devices from external influences.
Bendable glass is the cover window used in foldable phones. This glass requires significantly advanced technology compared to regular smartphone cover windows. It needs to be able to withstand folding and unfolding tens of thousands of times without damage while maintaining its original shape. Additionally, it must provide durability even with a thickness of less than 30 micrometers. One micrometer is one millionth of a meter.
Corning’s bendable glass lineup, completed around 2021, has recently entered production and is being incorporated into Samsung Electronics’ Galaxy Z Flip flagship foldable phone series. In this field Corning faces strong competition from German company Schott, which is reportedly supplying the necessary glass to Samsung Display for another Samsung foldable product, the Galaxy Z Fold 5. It appears that Corning has chosen to differentiate itself from competitors who lack a special production hub in the country by strengthening its domestic supply chain in South Korea in order to shorten delivery times and engage in technical cooperation. Additionally, this move indicates a commitment to firmly supporting Samsung, which dominates the global foldable phone market, and securing equal competitiveness in this sector.
During his visit to South Korea, Chairman Wendell Weeks met with Chung Eui-sun, the chairman of Hyundai Motor Group, and expressed confidence that this glass could be applied not only in electronic devices but also in the automotive field.
On Sept. 1, he is scheduled to meet with Lee Jae-yong, the chairman of Samsung Electronics, to discuss cooperation in the next-generation display business. Chairman Weeks didn’t forget to mention his relationship with Chairman Lee as well as plans to establish the bendable glass lines. He said, “My long-time friend Chairman Lee possesses wisdom, strategic insights, and leadership,” and added, “I continue our friendship with Chairman Lee working together with Samsung.”
Chairman Weeks emphasized the importance of the 50-year-long collaboration between Corning and Samsung, spanning three generations from the late Lee Byung-chul, the founder of Samsung, to Chairman Lee Jae-yong, which had a significant impact on this investment. He stated, “This legacy began with the friendship between the Horton family, who are the predecessors of Corning’s chairman lineage, and Samsung. Now, I continue this legacy with Chairman Lee Jae-yong, who is not only a long-time friend but also an outstanding leader.”
The collaboration between Samsung and Corning dates back to 1973 when it was initiated during the era of Chairman Lee Byung-chul and Emory Horton Jr., the former chairman of Corning. Both companies jointly invested a 50 percent stake to establish Samsung Corning. While the Samsung Corning joint venture ended later on, they maintained various business cooperation relationships, including the continued existence of the “Samsung Corning Advanced Glass” joint venture.