Big Picture
South Korean companies in the display industry are planning to invest 62 trillion won (US$47 billion) for five years to come, and the South Korean government decided on March 14 to support their investment in various ways.
According to the government, its investment support will be 900 billion won (US$688 million) in new facility construction and equipment manufacturing and 950 billion won (US$726 million) in inorganic light-emitting display R&D.
In addition, it will help the companies develop transparent, extended reality and in-vehicle displays while investing 420 billion won (US$321 million) in OLED displays. It is also planning to nurture 9,000 engineers by 2032.
At present, the global display market size is approximately 150 trillion won (US$115 billion) with LCDs and OLEDs accounting for 64 percent and 36 percent of it, respectively. China already overtook South Korea in LCDs and is about to do so in OLEDs. Chinese display suppliers’ share in the OLED panel market rose from 4 percent to 18 percent from 2018 to 2021. Their mobile OLED panel market share is forecast to rise from 11 percent to 30 percent from 2019 to this year.