In a bid to better serve South Korean OLED display and lighting manufacturers , New Jersey based company Universal Display Corporation is setting up a South Korean subsidiary as well as expanding into 'green' markets. 

Sui-Yuan Lynn, Director of Asian Operations at Universal Display, in a statement pointed out that "The OLED market, estimated to exceed $1 billion this year and to grow at a significant pace over the next few years, has much of its existing and anticipated OLED manufacturing base located in Asia."

According to the company, the subsidiary will enable the company to provide enhanced technical and sales support to its customers in the region and to better meet the needs of the growing OLED marketplace.

Recently, with the support of the $2 million, U.S. Department of Energy Small Business Innovation Research (SBIR) Phase III Xlerator grant, UDC has teamed up with Acuity Brands to develop an energy-efficient and color-tunable phosphorescent OLED lighting system.

The objective is to accelerate market introduction of OLED lighting for high-end commercial and institutional applications. Up to now, many contracts to UDC were from defense agencies.

At present, UDC is highlighting recent advances in its PHOLED technology and materials, including recently announced progress in its solution-processible at FPD International 2010 and Green Device 2010, a comprehensive exhibition and conference of flat panel display technologies and ‘green’ technologies November 10-12, 2010 at the Makuhari Messe in Chiba City, Japan.

About Universal Display Corporation
UDC licenses its organic LED technologies, sells its proprietary UniversalPHOLED materials, and provides customized technology development and transfer services to its customers. The company is making a concerted effort to be known in Asia.