LG Display Holds Ceremony to Celebrate Installation of 8th Gen OLED Production Line

SEOUL, KOREA- LG Display held on August 1 a ceremony to install an eighth-generation OLED production line at its Paju P9 plant. This was in line with its earlier announcement in February this year to invest 700 billion won in a new OLED TV panel line (M2). The company will soon follow up with stocking of other equipment and materials and begin mass-producing OLED panels (dimension of 220x250 centimeters) by the second half of next year. The M2 line, capable of producing 26,000 panels a month, will be devoted to production of large-sized OLED panels for 55-inch TVs or larger.

Han Sang Beom, LG Display president, said, "Based on our experience and know-how in producing the 55-inch OLED panel for the first time in the world, we will meet the mass-production deadline by the second half. We know this is not an easy task, but we will make it in cooperation with our partner firms."

The ceremony was attended by dignitaries including Gyeonggi Province governor Kim Moon-soo, Paju mayor Lee In-Jae, Jusung Engineering president Hwang Cheol-ju, Merck Korea president Michael Grund, and Idemitsu Kosan vice president Yoshihasa Matsumoto.

According to market research firm DisplaySearch, the OLED TV panel market is expected to grow to 9 million units by 2017 from the current 400,000 a year and lead the next generation TV market.

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