LG Display Investing $2.5B to Expand Gen 10.5 OLED Panel Production in Paju, Korea

LG Display will spend 3 trillion won ($2.5 billion) to expand production at its existing Gen 10.5 OLED plant in Paju, South Korea, optimized for 65-inch and larger TV screens, it said Tuesday. “Demand for OLED has grown sharply along with the recognition of its premium value, creating new opportunities and new markets,” it said. LG will use the investment to build an OLED evaporation facility for the 30,000 substrates it’s already producing monthly at Paju, plus an additional plant to add capacity of 15,000 substrates a month beginning in the first half of 2023, it said. “LG Display expects to solidify its competitiveness in the supersized TV market once it completes its Gen 10.5 OLED production facility,” it said. “Based on the increased production and cost efficiency that its Gen 10.5 OLED production line will bring about, LG Display will find new applications and markets for OLED while also expanding the existing OLED TV market, thereby strengthening its leading position in the OLED display industry.”