LG Display to build plant in Guangzhou

The South Korean electronics giant LG Display plans to build an advanced liquid-crystal display factory in Guangzhou to capitalize on the China's fast-growing flat-screen television market, the company reported yesterday.

The world's second-largest liquid-crystal display (LCD) maker said in a statement that the company signed a preliminary agreement on Friday with the Guangzhou city government to build the new plant, which is expected to be the biggest in China.

The deal, which is still awaiting approval by the South Korean government and the board of Seoul-based LG Display, is estimated to cost as much as $4 billion, according to Maeil Business Newspaper.