LG Display To Invest 1.05 Tln Won For New Plastic OLED Plant

(RTTNews) - LG Display Co., Ltd. (LPL) disclosed in a regulatory filing that it will invest 1.05 trillion won over the next two years to build a new factory for flexible organic light-emitting diode or OLED, as part of an effort to ramp up its future display production.

The investment will start during the third quarter 2015. The construction of the new facility, in the southern provincial city of Gumi, will be completed by the second quarter of 2017.

The investment accounts for 8.9 percent of the firm's equity capital, the comanay said.

LG Display has picked the flexible OLED as its next-generation display, which includes plastic OLEDs, since it has emerged as a lucrative profit source for its wide use in smaller smart devices such as smartwatches and vehicle dashboards.