LG Makes Major Investment in Next-Gen OLED Panels
LG Display announced last week that it will make a major investment to expand future growth of its OLED display technology. LG said it will pump KRW 1.84 trillion (roughly $1.59 billion U.S. dollars) into a project that will result in a new panel plant in Paju, Gyeonggi Province, Korea. Construction of new panels at the yet-to-be-built plant is expected to begin during the first half of 2018.
LG said that it decided on the new plant, which is being called P10, because of anticipated demand for OLED panels over the next several years. The new P10 plant will mainly produce large-size OLED TV panels and flexible OLED panels for smartwatches and automotive displays, according to LG.
The investment by LG will cover the construction of the P10 plant, the foundations for the clean rooms, and infrastructure for water and power supplies. Construction will begin this year, LG said. The completed plant is expected to be the size of about 14 football fields and will be roughly 100 meters high.