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SINGAPORE : Singapore investment company Temasek Holdings will spend about 285 billion won (US$242 million) to buy shares in South Korean firm, Seoul Semiconductor and its affiliate.
Temasek will acquire a 12 per cent stake in light emitting diode (LED) firm Seoul Semiconductor, and will take a 9 per cent stake in its affiliate Seoul Optodevice.
Under South Korean security rules, Temasek will have to hold the investments for at least one year.
Temasek said investing in the South Korean companies fits well with its investment theme of supporting emerging champions.
In a statement, Temasek's Managing Director, Ang Peng Huat, said Seoul Semiconductor is well-positioned to benefit from the industry's long-term growth potential.
That is because LEDs continue to gain traction as an energy efficient and eco-friendly lighting alternative. LED consumes less power and lasts longer than traditional light sources.
The technology is increasingly being used in electronics products from mobile phones to flat-screen televisions. - CNA /ls
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