Seoul, Korea – Samsung Electronics Co. confirmed plans to build an LCD monitor assembly line in China in a move that will likely create “millions” of jobs in the region, a spokesman for the South Korean company said.

Financial terms weren’t disclosed but the spokesman said the deal is valued in the “tens of millions of dollars,” and didn’t divulge the specifics of the plan. Earlier, local media reported that Samsung plans to set up a plant in China to establish a foothold in the emerging market.

Construction of the assembly line will begin at the end of 2002.

LCDs are a growing market for Samsung, the world’s largest chipmaker. For the first quarter, its semiconductor division’s revenue, including thin-film- transistor liquid crystal displays, or TFT-LCDs, rose 45% to KRW2.97 trillion, representing 30% of the company’s total revenue for the period.