5 months ago, LG Display announced that they are to invest in organic light-emitting diode (OLED) panel production facility in Guangzhou of China. Today, the trade ministry of South Korea said that the plan of the company has been approved.
Via this plan, LG aims to engage themselves in the overseas markets of the television screens that have fast-paced incremental demand. Given the already established branding of the company, this looks to positively reflect on their global business expansion.
In a statement, the Korean ministry said that the approval is conditional for LG to use local materials and equipment. It further includes the company’s investments at home and solidifying processes like security checks. There was no immediate comment provided by the company regarding the approval, neither did they reveal any detail on the plan.
Stay tuned to us for we are on the toe to provide more updates as soon as we receive.