LED industry oversupply in South Korea has decided to downsize the Dachang

LED industry oversupply, South Korea has decided to let the big downsizing. Korean media reported on ETNews 23, Nisshin group (Iljin Group) is currently under liquidation LED chip and packaging business, has been to the Seoul Central District Court on December 18th (Seoul Central District Court) application for reorganization procedure, handed over the fate of the judge. Day into the group's parent company is the battery factory day into the copper foil company (ILJIN Materials Co., Ltd.), rumors show that the reason why the day into the group decided to restructure, in order to avoid affecting the financial condition of the parent company. Since its entry into the cause of the LED since its inception, has never turned a deficit in any year. In addition, SKC also plans to merge the LED lighting business SKC Lighting, is expected next year in March (2016) will be able to complete all the procedures. SKC Lighting was founded in September 2011, SKC was that LED lighting market should be able to sustainable development, but did not expect the LED business operations are difficult to recover, since the establishment of the independent operation. In addition, Samsung Electronics (Samsung Electronics Co.) in September will be downgraded to LED business department working group, and LG Innotec had hoped to become LED overlord, but now quietly put the sapphire wafer (Sapphire Wafer) to cause Sumitomo chemical (Sumitomo Chem) and Samsung joint venture subsidiary SSLM