ã€Global Network Technology Report】 December 27 news, LG will invest 4.7 billion US dollars to build a new organic light-emitting diode (organic light-emitting diode, OLED) production plant in China, and this will be the first time the Korean company will This advanced technology has been transferred overseas.
It is understood that the Ministry of Industry, Trade and Resources of South Korea has approved this plan on Tuesday: Invest 5 trillion won (4.7 billion U.S. dollars) in China before 2020, accounting for a quarter of LG's OLED investment in the next three years.
For the proposed plant construction plan, the reason given by LG is that China's production costs are lower.
LG said it plans to increase its OLED production to about 2.8 million next year, 1.1 million more than in 2016.
In July this year, the company announced plans to start production of OLED panels in Guangzhou, China. Before that, the company had already produced less advanced OLED panels in Guangzhou. According to media reports, due to policy, fear of technological leakage, Sino-Korea relations and many other complicated reasons, this cooperation has always been met with resistance from the Korean government.
In October this year, according to South Korea’s “Central Daily†report, LG Display’s plan to establish a factory in Guangzhou has been stopped by the Korean Ministry of Industry, Commerce and Resources. The cooperation between the two sides has been proceeding in an orderly manner. On November 30th, Guangzhou's landmark building “Guangzhou Tower†launched an interactive experience project called “New Vision for OLEDâ€. The technology provider behind it is LGD.
In order to build factories overseas, the Korean government has been restricting Korean companies from exporting valuable industrial technologies including OLEDs overseas in order to maintain the competitiveness of local companies against foreign rivals. After the approval of this plan, the Ministry of Industry, Trade and Resources of South Korea also reminded LG on Tuesday that it will strengthen security measures to protect this technology. (Burger)
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