LG Display invests 700 billion KRW in next-generation OLED facilities in Paju
Mayor Kim Kyungil: "A symbolic achievement for advanced digital industry hub"
Investment aims to boost market competitiveness and local economic revitalization
On June 18, Paju Mayor Kim Kyungil stated that LG Display's decision to invest 700 billion KRW in new organic light-emitting diode (OLED) technology facilities in Paju is "a symbolic achievement that demonstrates Paju is establishing itself as a hub for advanced digital industries."
This investment centers on building production infrastructure for panels and modules featuring next-generation premium OLED technology. LG Display plans to secure market competitiveness by advancing technology development and mass production systems, aiming to achieve both future growth and enhanced profitability.
Previously, in September of last year, LG Display signed an agreement to transfer its stake in the Guangzhou large-size liquid crystal display (LCD) panel and module plant to the Chinese display company China Star Optoelectronics Technology (CSOT).
LG Display, which is pursuing the advancement of its OLED business, announced that it would use the funds secured from this sale for facility investments, research and development, and operating expenses to strengthen its business competitiveness.
Through this investment, LG Display will focus on establishing infrastructure for panels and modules utilizing next-generation premium OLED technology. The company emphasized that its investment decision was thoroughly prepared and verified in terms of stable technology, development, mass production systems, and market demand, with the goal of simultaneously securing future growth engines and strengthening profitability.
Mayor Kim Kyungil said, "This large-scale investment is the result of trust in Paju's industrial infrastructure and administrative support capabilities," adding, "We will continue to create an environment where companies can confidently invest."
He further stated, "We will do our utmost to ensure that the creation of quality jobs and revitalization of the local economy through corporate attraction can be tangibly felt by our citizens."
Meanwhile, Paju City expects that LG Display's investment will further solidify the foundation for future growth and accelerate the city's transformation into a hub for advanced industries.
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