Prime View International, HYDIS Technologies, and LG Display Announce Comprehensive Cooperation Agreement

January 2010.Prime View International Co. Ltd., a global supplier of e-paper display modules, HYDIS Technologies Co. Ltd., a subsidiary of PVI, and LG Display Co., a leading innovator of TFT-LCD technology, announced that they have agreed to launch a comprehensive cooperation with regard to technologies, capital, and sourcing. Together, the companies will co-develop for the global display market, with the stated aim of elevating collective competitiveness and maintaining a leading position in the industry.

LG Display will invest in HYDIS technology through US$30.5 million in corporate bonds. Both companies have also entered into a cross-license agreement, including FFS (fringe-field switching) technology developed by HYDIS, as part of the comprehensive cooperation. The two parties will also mutually support production capacity on certain e-paper and high-end TFT-LCD products to promptly respond to growing market demand and achieve higher cost efficiency. Accordingly, LG Display will provide consulting to HYDIS on production efficiency and quality.

Meanwhile, LG Display and PVI, the holding company of HYDIS, are also strengthening cooperative ties. In recognition of PVI's e-paper display market position, LG Display has invested US$10 million in PVI's GDR (global depository receipts) issuance in December, 2009. In accordance with this commitment, LG Display and PVI will further collaborate on material sourcing in addition to technologies and productions. Previously, LG Display had also signed a supply agreement with E Ink Corporation, a subsidiary PVI, with the aim of developing the e-paper market together.E Ink will therefore expand its customer base and increase market share, while LG Display can enjoy a stable supply from E Ink.

Young Soo Kwon, LG Display's President and CEO, noted, "The cooperation is expected to contribute significantly to our ability to take an early lead in one of our future growth businesses in the e-paper display market. We have high hopes that this win-win collaboration will generate major synergies to solidify leading positions in the display industry for all of us."

Scott Liu, Chairman and CEO of PVI, said, "The comprehensive cooperation between PVI and LG Display will not only enable both parties to maintain a leading position in e-paper and high-end TFT-LCD markets, but together, we can meet all foreseen future market demands and challenges with excellence."