According to Yonhap News,

LG Display Co., a global leader in display panel manufacturing, said Thursday it will invest 700 billion won (US$515 million) in its domestic organic light-emitting diode (OLED) production facilities.

In September, LG Display sold its entire 80 percent stake in its large-size display panel and module plant in China's Guangzhou to China Star Optoelectronics Technology (CSOT) for 2.25 trillion won.

CSOT, a subsidiary of Chinese electronics giant TCL Group, is one of the leading suppliers of television display panels.

"With the proceeds, the company is considering expanding its existing OLED plant in Paju, 30 kilometers northwest of Seoul, or building a new one in the city," a company spokesperson said in a phone call.

In addition to the planned investment in OLED production, LG Display said it will use part of the proceeds for research and development, as well as operational expenses, to enhance its competitiveness in the OLED market.

To move the investment project forward, the company plans to sign a memorandum of understanding (MOU) with Paju City and Gyeonggi Province next month.


kyongae.choi@yna.co.kr

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Source: Yonhap News (June 5, 2024)