LG Display to invest $400 million in OLED production in South Korea

LG Display Co said on Friday it plans to invest 450 billion won ($395.99 million) in South Korea to build production capacity for flexible organic light-emitting diode (OLED) displays and OLED lighting panels. An LG Display spokeswoman told Reuters the company would invest 310 billion won to boost flexible OLED capacity and 140 billion won to build a dedicated OLED lighting production line. The investment adds to the 1.05 trillion won the firm committed in July 2015 for building its fourth organic light-emitting diode factory in the city of Gumi, about 200 kilometers southeast of Seoul. With the big-name mobile phone manufacturers like Apple and Samsung already shifting to, or planning to shift to, OLED panels, the investment does seem warranted. LG has also been working hard to push out large, WRGB OLED TVs and had previously invested another $380 million in OLED production for televisions. LG Display has been involved with display technology and production since 1987 and now provides a large variety of display panels in various sizes and specifications. The company claims to operate 9 fabrication units in Korea, China and Poland and the LG Display unit alone employs 49,000 people. With inputs from Reuters