LG Display to invest additional $750 million for plant in Vietnam: reports

LG Display a major display panel maker in South Korea, will make an additional US$750 million investment in its plant in Vietnam, news reports showed Monday, as the company eyes expanding OLED panel productions.

The city of Hai Phong approved LG Display’s latest investment plan for its plant in northern Vietnam, according to the Vietnam News Agency. The expenditure will bring LG Display’s total investment for its project in the Vietnamese port city to $3.25 billion, it added.

LG Display is reportedly seeking to begin adding more OLED production facilities next month at the earliest. The company is expected to hire 5,000 more people, it added.

LG Display, the world’s largest OLED TV panel maker, set up its Vietnamese OLED module plant in 2016.