Also, the company is setting high bars for its future as it aspires to be named one of the world’s top five LED lighting companies by 2020.

SKC celebrated the launch of SKC Lighting at the new company’s headquarters in Gyeonggi Province this Wednesday. SKC Lighting was born out of the merger between LED lamp maker brand Sum-ray and Doo Young - SKC’s prior acquisitions each from January last year and April this year targeting the LED sector.

Sum-ray’s five billion won ($4.7 million)-business was ceded to Doo Young last month, which was renamed to SKC Lighting. The new company is an LED maker with 150 workers, 21.6 billion won in assets, and three LED plants in Dangjin, Chungnam Province; Gwangju, Gyeonggi Province; and China’s Qingtao.

SKC Lighting plans to focus primarily on SMPS (Switched-mode power supply), heatsink materials, lenses, and other core materials in the LED value chain.

SKC subsidiaries will be sharing in on the LED business to offer a more organic support structure. As majority shareholder with a 65% share, SKC will be imparting its expertise in traditional film and related materials, to boost competitiveness by allowing selective convergence of useful technology to the LED sector.

SKC Solmics, another SKC subsidiary, is currently in the middle of developing LED sapphire ingots and wafers, and a partnership between the two companies is believed to contribute greatly to the localization of core LED technologies.