January 28, 2011
SEOUL (AFP) - LG Display said Friday it would spend 1.35 trillion on ($1.21 billion) over the next five years to expand production in South Korea.
The company, one the world's largest makers of liquid crystal display (LCD) panels, signed a memorandum of understanding with the southeastern city of Gumi to extend administrative support for the investment.
Demand for LCD panels used for smartphones and tablet PCs has been growing steadily, the company said.
"This expansion will help corroborate our leadership in the LCD industry," chief operating officer Kim Jong-Shik told journalists.
