LG Display to Invest 3.3 Trillion Won in Small and Medium OLED Facility Investment (Update)

LG Display Paju Plant Panorama

[Asia Economy Reporter Jeong Hyunjin] LG Display announced on the 17th that it will invest 3.3 trillion KRW in facilities for small- and medium-sized organic light-emitting diode (OLED) production.

LG Display stated that this decision was made at the board meeting held on the 13th. The investment amount corresponds to 25.91% of the company's equity capital. The company explained that the purpose of the investment is to "secure production capacity in response to the small- and medium-sized OLED market."

With this investment, LG Display will establish a 6th-generation (1500mm × 1850mm) small- and medium-sized OLED production line at its Paju plant in Gyeonggi Province. The investment period is three years, expected to conclude in March 2024, and the new line is anticipated to begin operation from 2024.

An LG Display official stated, "Through expansion of existing production lines and other measures, we plan to build a production capacity of 60,000 small- and medium-sized OLED panels at the Paju plant in the mid to long term."

Through this investment, LG Display intends to actively respond to the growing demand for high value-added and high-end products employing small- and medium-sized OLEDs, in addition to large OLEDs dedicated to TVs, and to promote mid- to long-term growth by enhancing competitiveness.

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