LG Display Partners with Su-eun and Mubo for 'OLED Investment' Financial Collaboration

▲LG Display Paju Plant view. (Provided by LG Display)

[Asia Economy Reporter Jin-ho Kim] LG Display announced on the 15th that it will raise $1 billion in investment funds through agreements with Korea's official export credit agencies and global banks to strengthen competitiveness in small and medium-sized OLEDs and expand exports.

Through this agreement, LG Display will be able to secure large-scale funds at competitive interest rates for the long term from global financial institutions such as Australia and New Zealand Banking Group, Hongkong and Shanghai Banking Corporation, Citibank, and Spain's CaixaBank, based on payment guarantees from Korea Export-Import Bank and Korea Trade Insurance Corporation, which are public financial institutions supporting the export promotion of national strategic industries. Furthermore, the Export-Import Bank will participate not only in guarantees but also in direct lending.

Despite the rising interest rate trend in the financial market and unstable economic conditions such as the Ukraine war, the active participation of multiple global financial institutions in this fund-raising indicates a high evaluation of LG Display's OLED technology excellence and growth potential.

Last year, LG Display decided to invest in production facilities at its Paju plant (panel) in Gyeonggi Province and its Vietnam plant (module) to enhance competitiveness in small and medium-sized OLEDs, pioneer new markets, and strengthen future growth engines. The funds raised this time will be used for expanding the OLED module line and building infrastructure at the Vietnam plant, which were part of the investments decided at that time.

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