LG Display wins Beijing's nod to build OLED plant in China

SEOUL, July 10 (Yonhap) -- LG Display Co. said Tuesday it won approval to establish a venture that will set up an organic light-emitting diode (OLED) panel plant in China.

The company said the Chinese government approved the joint venture to build the OLED factory in Guangzhou.

The nod came roughly seven months after the South Korean government approved the plan amid concerns about technology leaks and lingering diplomatic tensions between Seoul and Beijing.

LG Display will establish a joint venture with Guangzhou Development District with a combined investment of roughly 5 trillion won (US$4.4 billion), with LG taking a 70-percent stake.

colin@yna.co.kr
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