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View of Samsung Display Asan Campus. (Photo=Samsung Display) |
[Alpha Biz= Reporter Kim Jisun] Samsung Display is planning to invest $1.8 billion (approximately 2.4 trillion KRW) to expand its OLED (Organic Light-Emitting Diode) display plant in Vietnam.
According to industry sources and local media VN Express on the 23rd, Samsung Display's Vietnam subsidiary signed a Memorandum of Understanding (MOU) with the government of Bac Ninh Province, located north of Hanoi, for the expansion of its plant in the region.
The investment will focus on expanding the post-production lines near Samsung Display's existing plant in the Yen Phong Industrial Park, where components will be added to OLED panels to create modules.
With this new investment, Samsung's cumulative investment in Bac Ninh Province will increase from $6.5 billion (approximately 8.7 trillion KRW) to $8.3 billion (approximately 11 trillion KRW).
Once the expansion is complete, Samsung Display is expected to enhance its production competitiveness in OLED panels for a variety of IT products, including laptops, monitors, and mobile devices, where demand has been rising recently.
Samsung Display has not yet finalized the exact timeline for the investment but stated that it will respond flexibly based on market conditions.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
