[Opinion] "World's No.1 Display" Achieved Through Innovation

The display industry, although having a shorter history compared to other manufacturing industries, is one of the fastest evolving sectors in terms of technological advancement. Starting with cathode ray tubes, technology has evolved through LCD and OLED, and now development is progressing towards foldable and rollable displays as well as stretchable displays with elasticity. At the heart of this technological progress is the Korean display industry, which has maintained its status as the world’s No.1 display industry through relentless challenges and innovation.

Japan led the global display market until the early 2000s with companies like Sharp and Sony, who succeeded in commercializing LCDs first in the world. In contrast, although Korea began producing LCDs later in 1995 than Japan, it surpassed Japan in 2004 to become the world leader. This marked the first challenge and innovation. Japan was reluctant to invest in next-generation LCDs due to the Asian economic crisis in the late 1990s, but Korean companies responded timely to increasing demand and the need for larger displays by investing in the world’s first 5th generation LCD production in 2001, leading to rapid growth.

The second challenge for Korean companies was the transition to OLED, known as the dream display. OLED was a field abandoned by Japan, the former leader, due to high technical difficulties. However, persistent R&D by Korean companies combined with government support led to the world’s first commercialization of OLED in 2007. Since then, Korea has led the global display market with “world firsts” such as the first OLED smartphone, the first 55-inch OLED TV, and the first 55-inch transparent OLED. Recently, innovative products like foldable phones and rollable TVs have been developed through technological innovation. This was made possible not only by advancements in display manufacturing technology but also by innovations in materials and equipment.

Active government support is also necessary for corporate innovation activities. As major advanced countries including Korea have declared carbon neutrality, the display industry must reduce greenhouse gas emissions generated during manufacturing processes. It is necessary to enhance synergy effects through joint responses with the semiconductor industry, which undergoes similar manufacturing processes.

Additionally, as manufacturing processes have become more complex due to the application of new technologies and processes, our industry is innovating by introducing AI technology for automated inspection and intelligent manufacturing through big data. The government is promoting policies to support these industrial innovation activities, including strengthening competitiveness in materials, parts, and equipment, digital transformation of industries, and carbon neutrality policies. To actively respond to the changes of the 4th Industrial Revolution, these support policies are essential, but there are also many demands to abolish various regulations that restrict corporate activities. It is necessary to review whether there are excessive regulations in areas such as data utilization, information protection, environmental and safety regulations, and labor.

The Korean display industry is the only domestic industry that has maintained the world’s No.1 market position for 17 consecutive years, made possible by corporate challenges and innovation. Next-generation future displays will emerge within the next 10 years. Only continuous innovation can protect the future market. As Klaus Schwab said, in the past, big fish ate small fish, but now fast fish eat slow fish. It is difficult to overcome the rough waves of the 4th Industrial Revolution by industry efforts alone. To outpace competing countries through continuous ecosystem innovation, organic cooperation among industry, academia, research, and government is increasingly necessary.

Kim Sung-jin, Executive Vice President, Korea Display Industry Association