China approved LG Display OLED factory plan in Guangzhou

South Korean LG Display Co Ltd announced that its investment plan for the establishment of the 8.5-generation OLED panel production line in Guangzhou.

The total amount is up to about 5 trillion won (US $4.5 billion), China has been officially approved by the State Administration for Market Regulation of China(SAIC), LGD expecteS start of mass production in the second half of 2019.

LG has a 70 percent stake of the factory. Guangzhou Economic and Technological Development District controls the other 30 percent. Previously, the Chinese government required LGD to share core technology of OLED as a prerequisite for approval.

In July 2018, after the Sino-US trade confrontation, China took the initiative to open a special channel for South Korea’s investment in China.

OLED panels are favored by TV manufacturers. At present, the OLED camp has expanded to 14 in the world, including Skyworth, Changhong, Konka, Philips and other major Chinese TV brands. (HEAUS)

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