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Wednesday, 26 Jul 2017

LG Display to invest US$ 386 million in building OLED production at Gumi

The company plans to use the investment to extend its technological know-how in smartphone and wearable device displays to foldable and automotive products

29 Apr 2016 | Editor

According to a news report on the Nikkei Asin Review website LG Display has publicly announced the company will invest 450 billion won (US$ 386 million) in its OLED display panel plants in Gumi, North Gyeongsang Province.

The company said the 450 billion won includes a 310 billion won (US$ 266 million) upfront investment for the Gen-6 flexible OLED manufacturing line and 140 billion won (US$ 120 million) for the line producing the world's first Gen-5 lighting OLED units.

Based on the investment, which will mainly be aimed at increasing production capacity of flexible OLED panels and lighting OLED units. The company plans to use the investment to extend its technological know-how in smartphone and wearable device displays to foldable and automotive products.

The Gen-5 OLED lighting production line will be able to produce 15,000 panels a month, which LG Display said will be the largest production scale in the world. The line will start mass production by the first half of 2017.

In July 2015, the company made the decision to invest 1.05 trillion won for its E5 Gen-6 flexible OLED production facilities. The 310 billion won investment now scheduled will enable the line to make 7,500 flexible OLED panels a month, it said.

LG Display said it has signed a memorandum of understanding with the regional governments of North Gyeongsang Province and Gumi for the investment and administrative support. North Gyeongsang Province Governor Kim Kwan-yong, Gumi Mayor Nam Yoo-chin and lawmakers-elect Baek Seung-joo and Jang Seok-choon of the Saenuri Party participated in the signing ceremony with the LG Display CEO.

Han Sang-beom, LG Display Vice Chairman and Chief Executive, said, "In the global display industry, the shift toward OLED is a new challenge and an opportunity for all businesses." Han Sang-beom added "LG Display will retain leadership in the growing OLED market through timely investments and maximized investment efficiency."

www.lgdisplay.com    asia.nikkei.com   

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