Seoul, Korea – LG Display, the world’s leading innovator of display technologies, announced today that the company’s OLED production joint venture in Guangzhou, China has been approved by the Chinese government.

The joint venture for LG Display’s new OLED panel production plant will be established with KRW 2.6 trillion won in capital, of which LG Display will control a 70 percent share while the remaining 30 percent share will be owned by Guangzhou Economic and Technological Development District. The total investment is KRW 5 trillion and LG Display is currently constructing an 8.5th generation (2,200 x 2,500mm) OLED production facility.

The Guangzhou OLED plant will mainly produce large-size OLED panels for TVs. LG Display will start producing 60,000 input sheets per month and will gradually ramp up to a maximum of 90,000 sheets per month.

“LG Display welcomes the approval from the Chinese government. We will try to speed up our construction and mass production schedules as much as we can by leveraging the expertise and experience from our previous 8.5th generation OLED plant in order to provide OLED panels to our customers in a timely manner,” said Dr. Sang Beom Han, CEO and Vice Chairman of LG Display. He added, “We will accelerate the transformation of our business structure to focus on OLEDs and will continually lead the global display industry.”