It was announced a few months ago that LG Display was going to invest in an organic light emitting diode (more commonly known as OLED) panel production facility in Guangzhou, China. Today, the trade ministry in South Korea stated that LG Display’s plan was approved.
Now that the plan was approved, LG will try to expand themselves into the overseas markets with televisions, cell phones, and other OLED display markets. LG as a whole has a very favorable view around the globe due to their quality products, and their recent expansion as a whole.
The Korean Ministry released a statement regarding the approval and it stated that LG has to make use of local materials and equipment. In addition, the statement also states that it must further include the company’s investments in South Korea and to solidify its security checks of its products.
There was no immediate comment by LG regarding the approval nor was there any press release, or announcement on their plan at this time.