Korean Display Transformed by OLED... "Setting a New Export Record of $13 Billion This Year"

2020 OLED Exports Reach Record High of $10.9 Billion... $13 Billion Expected This Year

LG Display unveiled the '48-inch Bendable CSO (Cinematic Sound OLED) panel' for the first time at the International Consumer Electronics Show (CES 2021), held from the 11th to the 14th. It features a bendable organic light-emitting diode (OLED) panel that produces sound. (Image source=Yonhap News)

[Asia Economy Reporter Moon Chaeseok] OLED (Organic Light Emitting Diode) exports are expected to reach an all-time high this year. With the increased demand for online content due to the COVID-19 pandemic, innovative ultra-high-definition OLED TV products such as rollable TVs and Quantum Dot (QD) displays are anticipated to drive exports.

On the 13th, the Ministry of Trade, Industry and Energy and the Korea Display Industry Association forecast that OLED exports this year will reach $13 billion, a 19.6% increase from last year's record high. This is attributed to the emergence of OLED innovative products not only in ultra-high-definition TVs but also in laptops, which is expected to boost large OLED exports. Additionally, demand for small and medium-sized OLEDs is rising as 5G adoption expands and applications extend to foldable phones and mid-to-low-priced smartphones.

Korean Display Export Outlook. (Data from Ministry of Trade, Industry and Energy · Korea International Trade Association · Korea Display Industry Association)

The share of OLED exports is expected to exceed 70% of total display exports. Since OLED exports first surpassed LCD (Liquid Crystal Display) exports in 2019, the gap has been widening every year.

Thanks to strong OLED performance, display exports this year are projected to increase by 2.4% to $18.4 billion compared to last year. Last year, exports were $18 billion, down 12.2% from $20.5 billion in 2019.

According to market research firm Omdia, the global display market is expected to grow 13.8% year-on-year to $139.8 billion this year, driven by the expansion of non-face-to-face IT products and the premium OLED market.

On the same day, Minister Sung Yun-mo of the Ministry of Trade, Industry and Energy visited LG Display’s CES offline experience zone in Magok-dong, Seoul, stating, "This year, we will expand support for technology development to secure next-generation display leadership and mass production of form factor innovative products, sparing no policy support to firmly establish our position as the world’s number one in competitiveness."

This content was produced with the assistance of AI translation services.