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Plan of the South Korean company LG Display to build China new factory for the production of OLED panels is approved by the Chinese government.
the Plant will be owned by a joint venture with a capital of 2.33 billion dollars. The share of LG Display will be 70%.
the intention of the LG Display to build the plant became known last year. In December the plan was approved by the South Korean Ministry of trade. The Ministry issued the resolution was accompanied by several conditions. So, the manufacturer is obliged to increase the use of local (Korean) materials and equipment, to invest in South Korea and to strengthen security measures to prevent the leakage of technology.
the Production, based on the substrate 8,5 G, original will be able to process 60,000 wafers a month, but over time its performance will be increased to 90,000 substrates per month. For comparison: now the company processes 70,000 substrates per month. For serial production of new capacity expected to start in the second half of next year. Then the company will be able to produce up to a total of 10 million 55-inch TV panels a year.
it is believed that its large-scale production of OLED panels in China will help better respond to growing demand in the local market.
Tags: LG Display , OLED
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