LG Display invests $1bn in Vietnam facility
June 16, 2022
By Chris Forrester
LG Display is raising about $1 billion from investors in order to build a new flat-panel production facility in Vietnam.
The new cash is coming from domestic and foreign banks, say local reports, with named banks such as ANZ Bank, HSBC, Citi Bank, and Spain’s Caixa Bank which will extend loans at competitive interest rates based on payment guarantees from the Export-Import Bank of Korea and Korea Trade Insurance Corporation. LG Display said the Korea Eximbank, an official export credit agency, would provide direct loans as well as guarantees.
LG Display explained that it was able to attract funds from global financial institutions, demonstrating its advanced technology and growth potential for the sector. The money would be spent on strengthening the competitiveness of small and medium-sized OLEDs and expanding exports.
The company’s existing plant in Hai Phong, an industrial port city in north-eastern Vietnam, assembles OLED panel modules.