Samsung and Lg’s display departments collaborated on a new strategic partnership to support small and medium-sized corporations in South Korea.
The rearrangements explore out when the Japanese government has inflicted barriers that affected several suppliers in South Korea. Thence Samsung and LG joined hands to support the local enterprises.
The two tech tycoons set up an advisory board that consists of 30 businesses across the supply network including, the components and types of equipment sectors. LG and Samsung trying to help the smaller business by adding innovations in their technology and giving awareness to them on advancing their technology while also condensing their own dependency on overseas customers & suppliers.
Thanks to this, South Korean enterprises are now developing a stepper exposure systems and ion deployment equipment with the helping hands of Samsung and LG.
Furthermore, the collaboration between the Two Tech Hulks is also pointing to stimulate local suppliers. They have introduced a new set of rules that will gather the new investments up to 5 trillion won by 2022 to 335 material suppliers. The government has also decided on providing 1.5 trillion won in tax to give throw benefits and subsidies for these companies.