Vietnam recently granted a license LG Displaywhich will allow him to increase his investment in a plant he has built in the northern port city of Haiphong. The company aims to increase its investment from USD 750 million to USD 3,25 billion.
According to the report ReutersLocal media reported the news and even added that the additional investment would help the South Korean tech giant expand its production capacity. This will help increase the number of manufacturing units in the city, and expansion plans are slated for completion by May 2021. In addition, the increased investment will also create 5000 new jobs, according to Vietnam Finance.
These significant spending will allow LG Display to revitalize its project in the Vietnamese port city, which will create more OLED manufacturing facilities in the region no earlier than next month. The company started its OLED module factory in Vietnam in 2016, so expanding on previous investments is understandable, especially given that it is the world's largest manufacturer of OLED TV panels.
At this point, LG has yet to respond or comment on this question. Unfortunately, this is all the information we need to provide. So stay tuned as we will provide updates when more information becomes available.
