LG to invest $4.7b in new OLED plant

LG Display Co, one of the world's biggest manufacturers of display panels used in smartphones and televisions, will invest 5 trillion won ($4.7 billion) to build an OLED, or organic light-emitting diode, panel production plant in Guangzhou, capital of Guangdong province.

LG Display will take a 70 percent stake in the plant and Guangzhou Economic and Technological Development District will hold the remainder, the company told China Daily. The factory is expected to achieve mass production in the second quarter of 2019, manufacturing 60,000 OLED panels a month, which will be used for large-sized OLED televisions.

The company said it had gained approval from South Korea's trade ministry for this plan, the first time a South Korean firm will transfer such sophisticated technology abroad.