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>> South Korea approves LGD to establish OLED panel production plant in China 25th,May,2018
On December 26, according to Reuters, the Korean trade department stated that one of its subordinate committees had approved plans for LG Display to build an organic light-emitting diode (OLED) panel production plant in China.
In July this year, LG Display announced that it will invest in large-scale OLED production in Guangzhou, China, to meet the rapidly growing demand for such television screens in overseas markets. However, the Korean government has not approved the use of OLED technology and other reasons, resulting in the delay in the construction of the panel factory.
In the current situation of the Korean government delaying the approval of the construction of a Chinese OLED panel factory, LG Display announced recently that it approves an investment project worth 1.19 trillion won (approximately US$1.1 billion) to expand the company’s OLED panel in Vietnam. The module factory was used to fill the market demand before China's OLED panel factory was allowed to invest in construction.
Now that LG Display's investment plans have been approved, industry sources pointed out that one of the reasons the South Korean government is willing to let go may be related to the recent mass production of OLED panels by BOE, the Chinese panel maker.
The Korean Trade Ministry stated that the precondition for this approval is LG Display's enhancement of the use of local materials and equipment, its future investment in South Korea, and the strengthening of safety inspection procedures.
At present, LG Display has not commented on this.
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