The LED industry is oversupplied and Korean factories are downsizing one after another.

The LED industry has oversupply, causing major Korean manufacturers to decide to downsize one after another. Korean media ETNews reported on the 23rd that Iljin Group is currently liquidating its LED chip and packaging business. It went to the Seoul Central District Court (Seoul Central District Court) to apply for reorganization procedures on December 18, leaving its fate to the judge to decide. The parent company of ILJIN Group is the battery factory ILJIN Materials Co., Ltd.. Rumors indicate that the reason why ILJIN Group decided to reorganize is to avoid affecting the financial status of the parent company. Since the establishment of Rijin's LED business, it has never turned a profit in any year.

In addition, SKC also plans to merge into the LED lighting business SKC Lighting, and it is expected to complete all procedures in March next year (2016). SKC Lighting was founded in September 2011. At that time, SKC believed that the LED lighting market should be able to develop sustainably. However, it did not expect that the LED business has not improved since its establishment and is difficult to operate independently.

In addition, Samsung Electronics Co. also downgraded its LED business unit to an operating group in September, while LG Innotec, which originally hoped to become an LED overlord, has quietly sold its Sapphire Wafer business to SSLM, a joint venture between Sumitomo Chem and Samsung.