Prime Minister’s Prize for Mechanical Engineering Granted to Shinhan Diamond

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At the 37th Korea Precision Industry Technology Awards, held on November 21, 2007 by Korea Testing Laboratory, a subsidiary of Ministry of Commerce, Industry and Energy, the Prime Minister’s Prize for Mechanical Engineering was awarded to Shinhan Diamond Industrial Ltd., Co. (hereafter “Shinhan Diamond”) for its display panel cutting technology product, Scriber.

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At the 37th Korea Precision Industry Technology Awards, held on November 21, 2007 by Korea Testing Laboratory, a subsidiary of Ministry of Commerce, Industry and Energy, the Prime Minister’s Prize for Mechanical Engineering was awarded to Shinhan Diamond Industrial Ltd., Co. (hereafter “Shinhan Diamond”) for its display panel cutting technology product, Scriber.

With 30 years of experience on cutting technology for stone, construction, precision, and semiconductor industries, the company, located in Incheon, South Korea, developed LCD/PDP cutting technology and has competed with a Japanese manufacturer, MDI, in the market.

Shinhan Diamond’s award-winning product, HMS (Half Moon Shape) Scriber, is a precision tool which makes less than 20 micrometer wide grooves on the surface of display panels such as those found on PDP and LCD screens and creates vertical crevices to cut into required sizes and shapes without breaking.

Regarding Scriber, MDI had filed a lawsuit against Shinhan Diamond (Taiwan Patent Application No. 085102753N02), claiming that Shinhan Diamond had infringed on its patent applied to display panel cutting and Shinhan Diamond had raised the invalidity of the patent as a defense in October, 2004. The court, on November 20, 2006, ruled that the shape and dimensions included in the granted patent is not noble or non-obvious and therefore the patent is invalid. By winning the case, Shinhan Diamond laid the foundation to enter the over 60 million dollars global market of which MDI has had over 90 percent share. It is good news to those PDP and LCD screen manufacturers who used to have no other option than purchasing display panel cutting tools from MDI at bubble prices set by the only supplier. Now they have possibilities to enjoy lower scriber costs resulted from fair competition between Shinhan Diamond and MDI and further, decreased manufacturing costs and gain competitive edge in the global market.

Shinhan Diamond expects its 2007 sales revenue to increase to 150 billion won from 122 billion won in 2006, partially thanks to escalating sales of Scriber.

Contact:
Heather Yoon
Tel : 82-32-810-3385
http://www.shinhandia.com

Source: Public Relations Department, Shinhan Diamond Industrial Ltd., Co.

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Heather Yoon
OSO CO
82-32-810-3385
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