[Alpha Biz=(Chicago) Reporter Paul Lee] LG Display has decided to delay investment in large organic light emitting diode (OLED) production facilities.
According to the Financial Supervisory Service's electronic disclosure system on the 1st, LG Display announced that it will extend the investment deadline for large OLED new facilities planned for March 31, 2028.
Display has decided to invest in 10.5G OLED production facilities to pioneer super-large and new markets, but it is difficult to invest as scheduled due to the outbreak of the new coronavirus infection (COVID-19) and the uncertain global macroeconomic environment.
LG Display announced in July 2019 that it would invest 3 trillion won in the production line of 10.5th generation OLED panels at its P10 plant in Paju, Gyeonggi Province. It is a follow-up investment to 2.8 trillion won, which aims to produce 30,000 units per month in 2017.
Last year, LG Display posted an operating loss of 2.85 trillion won, the first loss in two years. The range has also increased from 36.5 billion won in operating losses in 2020. LG Display borrowed 1 trillion won from LG Electronics on the 30th of last month to increase its competitiveness in the OLED business and secure operating funds.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
