Market Chatter: LG Display to Invest KRW700 Billion in OLED Facilities in South Korea

MT Newswires Live

06-05

LG Display (KRX:034220) plans to invest 700 billion won in its domestic organic light-emitting diodes (OLED) production, using proceeds from its recent 2.25 trillion won stake sale in a Chinese plant to TCL Technology Group (SHE:000100) subsidiary China Star Optoelectronics Technology.

The South Korean displaymaker is weighing an expansion or new plant in Paju, while also allocating funds to research and development and operational upgrades to boost its OLED competitiveness, Yonhap News reported Thursday.

Shares of LG Display rose nearly 1% at market close on Thursday, while those of TCL Technology Group fell 1%.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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