LG Display will invest in a new OLED light panel manufacturing facility.
The planned facility will be the first 5th generation (1000 x 1200mm) OLED light panel manufacturing plant in the world. It is to be located in the South Korean city of Gumi, where it will produce a range of OLED light panels.
The Korean company said that the initial input capacity at the plant will be 15,000 glass substrates per month. The monthly input capacity could be gradually ramped up depending on the market situation.
LG Display expects the increased production with the new facility will help the company obtain significant price competitiveness.
With the larger glass substrate, LG Display will be able to produce a wide range of different size light panels, including giant ones.
The investment decision follows the acquisition by LG Display of the OLED light business of its sister company, LG Chem in December, 2015.
OLED light is made up of layers of organic materials which is self-illuminating and consumes less power and also emits lower heat than conventional lighting. It is environmentally friendly and is closest to natural light. Due to its ability to be thin and flexible, it is suitable for different applications and venues and could create new markets for lighting.