SEOUL, KOREA- Samsung Display became the largest shareholder of Corning of the United States with an investment of US$2.3 billion. In addition, Samsung Display will transfer its entire stake in Samsung Corning Precision Materials, a joint venture created by Corning and Samsung Display, to Corning.

This move reflects Samsung Display's decision to promote business cooperation directly with the headquarters of Corning, not through Samsung Corning Precision Materials, aimed at better coping with the next-generation display Flexible.

Samsung Display announced on October 23 that it signed a comprehensive business cooperation agreement to strengthen its cooperation with Corning. Under the terms of the contract, Samsung Display will acquire Corning's convertible preferred stocks, while Corning will secure the exclusive management control for Samsung Corning Precision Materials.