SEOUL, November 18 (AJP) - LG Display received approval from Viet Nam's Haiphong city authorities on Thursday to invest an additional 1.39 trillion won ($1 billion) over the next five years in its OLED module factory, bringing the company's total investment in Viet Nam to 7.88 trillion won ($5.65 billion).
The investment aims to stabilize OLED production operations at the company's Haiphong facility, which was completed in 2017, and strengthen its OLED business competitiveness through structural enhancement.
The new funding represents the basic operational investment required for running the OLED module factory, signaling the company's long-term commitment to its Vietnamese manufacturing base and strategy to advance its display technology capabilities.
Haiphong, Viet Nam's largest northern port city, has attracted significant foreign investment, with South Korea leading at 15.33 trillion won ($11 billion), followed by China and Japan. The city has become a major manufacturing hub for South Korean corporations and their smaller business partners.
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