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>> The dust settled! LG cast in China to build OLED panel factory approved 28th,Dec,2017
According to South Korea's "East Asia Daily" reported that South Korea's Ministry of Trade on Tuesday announced the approval of LG Display's new OLED panel production plant in China's plan.
In fact, as early as five months ago, LG claimed to invest in a large-scale OLED manufacturing facility in Guangzhou to cope with the rapidly growing demand for television screens in overseas markets.
However, LG must be approved overseas to build factories, South Korea requires companies to obtain permission to export such technology, which is the first time Korean companies OLED technology to overseas.
After nearly six months of hard work, LG finally obtained overseas construction permission, which will help LG consolidate its dominant position in the OLED screen market, and is expected to significantly increase the OLED display panel production capacity, to break the high OLED TV prices and help LG opens China, the world's largest consumer TV market.
According to the plan, LG will invest 4.7 billion US dollars in China OLED production in the next three years, is expected to ship in 2019.
Of course, this investment is also conditional. LG must use as much local materials and facilities as possible and at the same time expand its investment in Korea.
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