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Following the sale of its LCD plant in Guangzhou, China, LG Display (LGD) intends to invest KRW700 billion (approximately RMB3.7 billion) in constructing state-of-the-art OLED technology facilities at its Paju plant in South Korea. This strategic initiative is aimed at optimizing the company's financial structure, minimizing financial costs, and accelerating the growth of its OLED business. Leveraging the proceeds from the Guangzhou plant sale, LGD has successfully prepaid KRW1 trillion in loans ahead of schedule. The newly allocated funds will be utilized to build an OLED factory, specifically designed to address the intensifying competition in the small and medium-sized OLED market and capitalize on the burgeoning application of OLED in IT devices. This investment underscores LGD's commitment to bolstering its competitive edge within the OLED sector.
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