South Korea's LG pledges $1.5 billion for screen factory in Vietnam

Thanh Nien News

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LG Display Group, the screen-making subsidiary of South Korea's LG Electronics, is set to start works on a US$1.5-billion factory in the northern city of Hai Phong this month.
The factory is slated to go into operation next year, producing digital displays using LG's latest technology organic light-emitting diode, or OLED, according to a memorandum of understanding the group signed with the People's Committee of Hai Phong on Tuesday.
Local authorities asked LG Display to set aside about 20 percent of its output, including TV panels and computer monitors, for selling locally, news website Dau Tu reported.
Covering more than 40 hectares in Trang Due Industrial Park, the factory is expected to create around 6,000 jobs when it becomes operative.
In March last year LG Electronics opened a $1.5 billion factory to produce digital devices and electronics such as TVs, cell phones and washing machines in Hai Phong.

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