Gyeonggi Province Attracts LG Display's 700 Billion Won OLED New Technology Investment in Paju

[Suwon Ilbo=Reporter Kim Gap-dong] Gyeonggi Province announced on the 18th that it has successfully attracted a 700 billion won-scale investment by global display leader LG Display for next-generation OLED new technology.

On the 17th, LG Display officially announced it will concentrate equipment investment (700 billion won scale) related to next-generation OLED new technology at Paju LCD General Industrial Complex for two years from June 2025 to June 2027.

With this, following the recent attraction of Kakao Digital Hub to Nanyangju's Wangsuk District, large-scale investments are succeeding one after another, including LG Display, which is being assessed as providing momentum to the Gyeonggi Northern Region Comprehensive Restructuring Project being driven by Governor Kim Dong-yeon.

In March, the province also successfully attracted Kia's Purpose Built Vehicle (PBV) electric vehicle exclusive factory (EVO Plant) with a 2.2 trillion won scale in Hwaseong City, achieving results in investment attraction in the southern Gyeonggi region.

With this investment attraction, the province explained it has simultaneously achieved three goals: utilizing existing idle space within factories, securing next-generation technology, and revitalizing the regional economy. The province expects this to further strengthen Gyeonggi Province's position as a cutting-edge industrial hub while enabling the display industry's comeback.

The key to this investment is utilizing idle space within the Paju factory, which becomes an opportunity for Paju to make a comeback as a center for advanced display manufacturing. Through this attraction, Paju has established itself as a global production base for OLED innovative technology, and LG Display will build core equipment for next-generation OLED panel mass production.

Through this, synergy effects with regional partner companies and materials, parts, and equipment firms are expected, as well as cascading regional economic revitalization extending to logistics, employment, and commercial sectors.

The province views this LG Display investment attraction not as a simple acquisition of production equipment, but as a project that secures cutting-edge technology and significantly helps the Gyeonggi Northern Region Comprehensive Restructuring Project currently being pursued.

Governor Kim Dong-yeon stated, "The investment the province has attracted holds great significance as a turning point that repositions Northern Gyeonggi as a global display manufacturing hub," and added, "We will actively support LG Display's investment to proceed smoothly. We will continue efforts to attract additional investments for industrial development in the Northern Gyeonggi region."

Meanwhile, the Paju LCD cluster is a large-scale industrial complex created through consultations between Gyeonggi Province and LG Philips LCD (LG Display's predecessor) in 2002. At the time, Gyeonggi Province worked with the central government to address difficulties in site acquisition due to capital region regulations, successfully attracting LG Display as a representative case. The Paju business site has now grown into the nation's largest display manufacturing complex, producing TV, notebook, and mobile displays. Going forward, the province plans to actively support investment attraction and business success in next-generation manufacturing including semiconductors, displays, and secondary batteries, led by LG Display.