For a Bigger Share of Small OLED Panel Market

LG Display will raise US$1 billion from major global financial companies to expand OLED module lines at its Vietnamese plant.

LG Display announced on June 15 that it will borrow US$1 billion from major global financial companies to expand OLED module lines at its Vietnamese plant.

The lenders include the Australia and New Zealand Banking Group (ANZ),  Hongkong and Shanghai Banking Corp. (HSBC), Citibank and CaixaBank of Spain. The Export-Import Bank of Korea and Korea Trade Insurance Corp. will guarantee the payment of the loans. The Export-Import Bank of Korea will also extend a loan to the company.

LG Display will use the funds to expand OLED module lines at its Vietnamese plant. The ultimate goal is to expand its presence in the global small and medium-sized OLED panel market. Although LG Display is an undisputed No. 1 player in the large OLED panel market, it has a share of about 12 percent in the market of small and medium-sized OLED panels, much smaller than Samsung Display's 73 percent.

Last year, LG Display decided to make a massive investment in its Paju plant in Gyeonggi Province, Korea and in its Vietnamese plant to increase its competitiveness in the small and medium-sized OLED panel market.

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