LG Display announces $2.54 bln investment in production of large OLED panels
SEOUL, AJU - In an effort to consolidate its global leadership in organic light-emitting diode technology, LG Display, a top flat panel maker in South Korea, announced an investment of three trillion won ($2.54 billion) in production facilities for large OLED panels.
The company said in a regulatory filing on Tuesday that the investment is aimed at Increasing its competitive edge and leading position in the ultra-large OLED market. LG Display has expanded production facilities for large OLED panels in its plant in Paju north of Seoul.
LG Display has aggressively expanded production infrastructure with a total investment of 15 trillion won by 2020 to build facilities for large OLED and mid-sized plastic OLED (POLED) panels for smartphones and cars. POLED is an OLED built on polyimide circuit boards and could be bent or rolled up. POLED is considered the next generation of display technology.
In 2017, LG Display's board approved a 1.8 trillion won investment to set up a joint venture plant for 8.5-generation OLED TV panels at its LCD plant in Guangzhou. Separately, the company has announced the commercial production of 8K ultra high definition OLED displays this year.