Seeing a good prospect in the LED lighting business, Samsung Electronics and its affiliate Samsung Electro-Mechanics will also delve in the light-emitting diodes (LEDs) producing biz. Both the companies will invest 2900 million Won and is expected to start its operations in April under a tentative name of Samsung LED.
The reason for a new business are that the Korean government has announced to replace 30 percent of the street lights with LEDs by 2012 and also the global LED business is expected to rise up to $150 billion by 2018.
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