- LG Display to Build $1.6B OLED Plant in Korea
SEOUL, South Korea, Dec. 3, 2015 — LG Display has committed an initial 1.84 trillion KRW (about $1.6 billion) to construct an organic LED (OLED) display panel production facility called P10 in the city of Paju.
The initial investment will be used to construct the building and cleanrooms, and create infrastructure for utilities. Total investment to complete the project is expected to reach about $8.7 billion.
The P10 plant will mainly produce large-size OLED TV panels (ninth-generation or above) and flexible OLED panels for smart watches and automotive displays. Mass production is scheduled to begin in the first half of 2018.
The completed plant will cover an area of 382 × 265 m and will be 100 m high.
The company announced earlier that it will invest about $900,000 in a sixth-generation flexible OLED production line in Gumi that will produce 7,500 sheets per month and is expected to start mass production in the first half of 2017.
Manufacturers in South Korea, China and Japan have already launched OLED TV models, and more manufacturers in Japan and Europe are expected to adopt OLED TVs in the near future, according to a report by market research firm IHS. Demand for flexible OLED panels in the smart watch and automotive display sectors is also rising because they offer better design flexibility than LCD panels.
For more information, visit www.lgdisplay.com.
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