Samsung Display has been officially launched as a new corporation, spun off from Samsung Electronics.

Samsung Display held its inauguration ceremony today and will begin business operations in earnest after carrying out incorporation registration on April 3.

DongGun Park, executive vice president and head of the former Samsung Electronics' LCD Business was elected CEO of Samsung Display. Park said at the inauguration ceremony, "We will make Samsung Display a well-respected company through continuous efforts to supply a wide variety of customized products that provide great value to our customers." He added, "By continually staying one step ahead of our competitors, we can make our company the very best in the display market."

The company, which recorded 22.7 trillion KRW (approximately 20 billion U.S. dollars) in annual revenue in 2011 as Samsung Electronics? LCD Business, became the world?s largest display manufacturer overnight, based on its 20,000 employees and five production facilities worldwide.

Samsung Display began as an R&D arm of Samsung Electronics in 1991 and has developed and released some of the world?s most creative and innovative displays for two decades.