LG's production of OLED panels in China has been approved by the South Korean government, which will be the latest sign of improved relations between China and South Korea. The decision of the South Korean government will further consolidate the dominance of LG in the large-size OLED panel market, and it will also open the way for Korean enterprises to export technology.
The US media said that South Korea will allow a large company to build a new organic light-emitting diode (OLED) production facility in China, which is the first time that Korean companies have transferred this advanced technology abroad.
According to reports, the Korea Ministry of Industry, Trade and Resources approved the plan on the 26th, which is the latest sign of improved relations between China and South Korea.
The report said that this approach will help LG Display, one of the world's largest display panel manufacturers, to consolidate its dominance in the global large-size OLED panel market. The company said it plans to invest $4.7 billion in China by 2020, accounting for a quarter of its OLED investment over the next three years, and plans to start production in China in 2019.
In July 2017, the company announced plans to produce OLED panels in Guangzhou, China.
The Korea Ministry of Industry, Commerce and Resources reminded LG Display on 26th to strengthen security measures to protect this technology. The Korean government restricts the export of some important industrial technologies (including OLEDs) to maintain the competitiveness of local industries against foreign rivals. According to Korean law, companies must obtain government approval to export such technologies.
China BOE Technology Group Co., Ltd. has invested at least $17.7 billion in OLED production in recent years. Although its product quality lags behind more advanced Korean competitors, British IHS Marquis expects it to become the world's largest display manufacturer by 2019.
The report said that the South Korean government's decision is likely to help LG Display maintain its dominance in the large-size OLED panel market while expanding its ability to produce small displays – as more smartphone manufacturers adopt such displays This market has seen growth in recent years.
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