Hansong Neotec Signs 1 Billion KRW OLED Equipment Supply Contract with LGD... "Expected to Benefit from Full-Scale Investment Cycle"

[Asia Economy Reporter Hyunseok Yoo] Hansong Neotek announced on the 26th through a public disclosure that it has signed a contract to supply organic light-emitting diode (OLED) equipment worth 1 billion KRW to LG Display. This amount corresponds to 5.68% of last year's sales revenue.

Hansong Neotek previously signed OLED equipment supply contracts with LG Display worth 7.3 billion KRW in May and approximately 6.2 billion KRW on the 2nd of this month. With this latest contract, Hansong Neotek has secured OLED equipment supply contracts totaling about 14.6 billion KRW with LG Display this year alone.

In addition to LG Display, Hansong Neotek signed an OLED equipment supply contract worth approximately 2.4 billion KRW with China's Everdisplay Optronics (EOD) on the 13th. In China, most display companies, including EOD and BOE, are promoting OLED capacity expansion based on government support. Hansong Neotek counts most Greater China companies among its clients and has an office in China, so it is expected to benefit from the capacity expansions of Chinese companies.

A Hansong Neotek official said, "By signing OLED equipment supply contracts worth 14.6 billion KRW with LG Display this year alone, Hansong Neotek's core equipment has been recognized for its technological capabilities," and added, "If LG Display's recently announced large-scale OLED facility investments begin in earnest, the company's orders will increase significantly."

He continued, "Facility investments by domestic and Chinese display companies are accelerating, and IT devices such as smartphones and tablet PCs applying OLED panels are increasing," adding, "Considering these market conditions, it appears that a full-scale OLED investment cycle has arrived, and the company's future sales and profit growth are expected."

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