South Korean electronics giant LG, its Dutch partner Philips and the Polish government on Friday inked a half- billion dollar agreement to build an ultra-modern liquid crystal (LCD) monitor production facility in southwestern Poland, dpa reported. The deal was signed by LG Philips LCD Managing Director Bon Joon Koo and two other company officials. Poland's Economy and Labour Minister Jacek Piechota told reporters the "deal of the century" was an important development for the economy of Poland, the largest country to join the European Union in the last round of expansion in May 2004. Prime Minister Marek Belka meanwhile said there had been a surge in the number of investors interested in Poland since the country joined the E.U. bloc. Valued at some 429 million euros (535 million dollars), the LG investment will be a first in Europe in terms of technology and scale, according to a company statement. The Koreans have chosen the small southwestern Polish town of Biskupice Podgorne, near the city of Wroclaw and both the German and Czech borders, for the plant site. Production at the LCD plant is scheduled to begin in early 2007. The factory is expected to directly generate some 2,800 jobs and an additional 10,000 jobs indirectly. --more 1537 Local Time 1237 GMT
