LG Display opens Guangzhou factory

GUANGZHOU, China -- LG Display, the world’s leading display manufacturer, started mass producing liquid crystal displays at its new joint venture plant here on Monday.

Built on 330,000 square meters of land, the LCD production facility contains 120,000 square meters of manufacturing space.

It will mainly produce generation 8.5 LCD panels, measured at 2.2 meters by 2.5 meters, for 42-inch, 49-inch, and 55-inch ultrahigh-definition and full HD TVs.

“LG Display will mobilize all our technological resources to gain a significant foothold in China,” LG Display CEO Han Sang-beom said at the opening ceremony in Guangzhou.

“The new factory will contribute to creating the world’s best display industry cluster here.”

The display firm will produce 60,000 sheets per month at its initial stage, and boost its production capacity in phases to 120,000 a month by 2016.

LG Display, the Guangzhou Economic and Technological Development District and Chinese TV maker Skyworth established the $4 billion JV panel partnership in 2009,

The Korean display company holds a 70 percent stake in the factory, while 20 percent is owned by Guangzhou Development District. Its strategic partner and customer Skyworth owns a 10 percent stake.

LG Group chairman Koo Bon-moo and other LG executives, including LG Electronics chief operating officer Kim Jong-sik, and LG CNS president Kim Dae-hoon joined the opening ceremony.

After the opening ceremony, LG chairman Koo had a meeting with Guangdong Governor Zhu Xiaodan to discuss ways to boost economic cooperation. He is also scheduled Tuesday to meet with Hu Chunhua, provincial secretary of the Communist Party.

The LG Display CEO said the firm would continue doing research and development on other technology, such as organic light emitting diode displays, and quantum dot displays.

By Kim Young-won, Korea Herald correspondent(wone0102@heraldcorp.com)