US media: LG was allowed to produce OLED panels in China to open South Korea’s first technology output

  December 28, 2017 Media reports that South Korea will allow a large enterprise to build a new organic light-emitting diode (OLED) production facility in China, the first such move by South Korean companies abroad.
         According to a report by the U.S. "Wall Street Journal" website on December 26, the Ministry of Industry, Trade and Industry Resources of South Korea approved this plan on the 26th. This is the latest sign of improvement in the relations between China and South Korea.
         The report said that this approach will help LG Display, one of the world's largest display panel makers, consolidate its dominance in the global market for large-size OLED panels. The company said it plans to invest 4.7 billion U.S. dollars in China by 2020, accounting for a quarter of OLED investments over the next three years and plans to start production in China by 2019.
         In July, the company announced plans to produce OLED panels in Guangzhou, China.
         South Korea's Ministry of Industry, Resources and Remuneration 26th reminded LG monitors to strengthen security measures to protect the technology. The South Korean government restricts the export of some important industrial technologies (including OLEDs) in order to maintain the competitiveness of indigenous industries against foreign rivals. Under Korean law, companies must obtain government approval to export such technology.
        China BOE Technology Group Co., Ltd. invested at least 17.7 billion U.S. dollars in recent years to raise OLED output. Although its product quality lags behind more advanced South Korean competitors, the UK-based IHS Markit predicts that by 2019 it will become the world's largest maker of displays.
        Reported that the South Korean government's decision is likely to help LG Display to maintain its dominance in large-size OLED panel market, while expanding its ability to produce small displays - as more smartphones manufacturers use this display This market has seen an increase in recent years. (Source: Economic Information Daily)