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LG Display Makes Major Investment in Next-generation OLED Panels


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Seoul, Korea (Nov. 27, 2015) – LG Display, the world’s leading innovator of display technologies, announced today that it will invest KRW1.84 trillion to begin building a new  panel plant in Paju, Gyeonggi Province, Korea, with production expected to commence in the first half of 2018.


The company decided on the new plant, known as P10, because of anticipated demand for OLED panels over the next several years. The P10 plant will mainly produce both large-size OLED TV panels and flexible OLED panels for smartwatches and automotive displays.


The KRW1.84 trillion investment covers the construction of the P10 building, the foundations for the clean rooms and infrastructure for water and power supplies and will begin this year. The total investment in the P10 plant is expected to reach more than KRW10 trillion, and with LG Display gradually expanding the scale of the production line based on customer demand and market conditions.


Plans call mostly for the installation of large size OLED lines that will be 9th generation or above along with flexible OLED lines at the new plant. The first production line is scheduled to start mass production in the first half of 2018.


The company is expecting the lines will produce OLED in every product segment, including ultra large-size products as well as future products such as flexible and transparent displays. Dr. Sang Beom Han, CEO and President of LG Display said, “LG Display’s investment in P10 Plant is a historical investment for the industry since it will not only help expand the OLED market but also accelerate the development of future display technologies. With the active support of the Korean government, we believe the P10 plant will become the center of the global OLED industry.”


IHS, the market research firm, forecasts the global OLED panel market will grow to $29.1 billion in 2022 from $8.7 billion in 2014.


TV manufacturers in Korea, China and Japan have already launched OLED TV models and more TV manufacturers in Japan and Europe are expected to adopt OLED TVs in the near future. Demand for flexible OLED panels in the smartwatch and automotive display sectors is also rising because they offer better design flexibility than LCD panels.


LG Display announced in August that it would invest more than KRW10 trillion in expanding production of large-size OLED panels, flexible OLED panels and premium LCDs by 2018. The company has already announced it will invest KRW1.05 trillion in a 6th generation flexible OLED production line in Gumi, Gyeongsangbuk Province. The 6th- generation production line will produce 7,500 sheets per month and is expected to start mass production in the first half of 2017.



AMOLED Panel Market Forecast (Revenue / Unit: US$1,000)


2014 2015 2016 2017 2018 2019 2020 2021 2022
8,736,090 13,019,587 14,551,829 16,848,996 19,621,122 22,541,623 25,479,724 27,508,481 29,129,251

Source: IHS_OLED Display Market Tracker_Q3 ‘15


About LG Display

LG Display Co., Ltd. [NYSE: LPL, KRX: 034220] is the world’s leading innovator of display technologies including thin-film transistor liquid crystal displays (TFT-LCD), OLEDs and flexible displays. The company manufactures and provides display panels in a broad range of sizes and specifications primarily for use in TVs, notebook computers, desktop monitors, and various other applications including tablets, mobile devices. LG Display currently operates fabrication facilities in Korea and China, and back-end assembly facilities in Korea, China, and Poland. The company has a total of approximately 50,000 employees operating worldwide. For more news and information about LG Display, please visit


Forward-Looking Statement Disclaimer

This press release contains forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Additional information as to factors that may cause actual results to differ materially from our forward-looking statements can be found in our filings with the United States Securities and Exchange Commission.



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