LG.Philips LCD (LPL) was established when LG Electronics and Philips Electronics formed a joint venture in 1999. Today, LPL is headquartered in Seoul, Korea, and is the leading supplier of various TFT-LCD panels. LPL has experienced tremendous growth by continuously being the first in the industry to build and mass produce from fourth, fifth, sixth, and seventh generation TFT-LCD factories, and as a result, became the first company to simultaneously list its shares on both the New York and Korean Stock Exchanges in 2004. With a workforce of 19,000, the company currently has seven panel factories and three module factories, including one in Nanjing, and is in the process of building additional module factories in Poland and China to meet growing regional demands. Moreover, LPL has 6 subsidiaries and 10 branch offices in the US, Germany, Japan, Taiwan, China, and Hong Kong.