South Korea approves LG Display’s plan to build OLED factory in China

FILE PHOTO:  A man walks out of the headquarters of LG Display in Seoul
FILE PHOTO: A man walks out of the headquarters of LG Display in Seoul, October 20, 2011. REUTERS/Jo Yong-Hak/File Photo

December 26, 2017

SEOUL (Reuters) – South Korea’s trade ministry said on Tuesday that a committee had approved LG Display Co Ltd’s plan to build a new organic light-emitting diode (OLED) panel production facility in China.

The approval comes five months after LG Display announced it would invest in large-size OLED production in Guangzhou, China, to respond to fast-growing demand for the screens in TVs in overseas markets.

The ministry said in a statement that the approval was conditional on LG Display boosting the use of local materials and equipment, subsequent investment in South Korea and strengthening processes such as security checks.

An LG Display spokeswoman did not have an immediate comment.

(Reporting by Joyce Lee; Editing by Himani Sarkar)

  • gabriel

    LG better build that factory in USA or defend your self against “Rocketasshole”.

    • Jenny O

      Isn’t LG a Korean company?

      • gabriel

        Yes it is, and USA protect his interest..not china.

        • Jenny O

          Hmm. Good point.

  • red110306

    Maybe it is time to boycott LG as well. They sure love the protection that the USA provides them against the likes of NK and China but they don’t want to reciprocate with building facilities in the USA.
    #BOYCOTT LG!
    MAGA

    • gabriel

      Agree 100%.

      • red110306

        Thanks

  • Politically Incorrect

    Glad I got my LG 65″ OLED 7B before this crap happens

  • Twinkle Toes

    There goes the quality, bummer.