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LG Display. (Photo=Yonhap News) |
[Alpha Biz= Reporter Kim Sangjin] LG Display has received approval to invest an additional $1 billion (approximately 1.396 trillion won) into its factory in Hai Phong, Vietnam, over the next five years.
According to Reuters and other sources on the 17th, the Hai Phong City authorities recently granted LG Display permission to increase its investment in the region. This will bring LG Display's cumulative investment in Vietnam to $5.65 billion. Since the construction of its factory in April 2016, LG Display has continuously invested in equipment and hiring, amounting to significant investments each year.
Hai Phong, a major port city in northern Vietnam, has become a hub for various South Korean companies, with LG Display, LG Electronics, and LG Innotek all establishing manufacturing operations there. LG Display operates an OLED module factory in Hai Phong, where it assembles organic light-emitting diode (OLED) panels with display driver ICs (DDI) and other components.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
