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LG Display to invest $8.7 billion in new OLED plant

Reuters
A model poses next to LG Electronics' organic light-emitting diode (OLED) television in Seoul January 2, 2013. REUTERS/Lee Jae-Won

SEOUL (Reuters) - South Korea's LG Display said it will build a new plant to make panels using organic light-emitting diode (OLED) technology, with total investment expected to exceed 10 trillion won ($8.71 billion).

The company said it will spend an initial 1.84 trillion won to begin building the plant in Paju, South Korea, which will make both large-size OLED TV panels and flexible OLED panels for smartwatches and auto displays, with production expected to begin in the first half of 2018.

(Reporting by Tony Munroe)