LG Display Co.’s production line located in Paju, north of Seoul. (image: LG Display)
SEOUL, April 3 (Korea Bizwire) — South Korean display maker LG Display Co. on Friday announced that it would delay its investment in a large OLED production facility to March 2028 from the original date of March 31.
The primary factor behind this decision is the sluggish market demand that has resulted from the global economic slump, market insiders said.
The company noted that it has became difficult to carry out the investment plan as scheduled due to the drastic changes in the market situation caused by the pandemic and the increased uncertainty in the global macroeconomic environment.
The display maker also stated that it will provide additional information if there are any changes in the future.
In 2019, LG Display announced that it would be making an additional investment of 3 trillion won (US$2.28 billion) in a 10.5G OLED panel production line at its P10 plant in Paju, Gyeonggi Province.
This was a follow-up to an investment of 2.8 trillion won to achieve a monthly output of 30,000 units in 2017.
Once the facility investment is completed, its monthly production capacity is expected to increase by 15,000 units.
Kevin Lee (kevinlee@koreabizwire.com)
