LG Display to suspend production for 12 days

SEOUL, Dec. 18 (Yonhap) -- LG Display Co., the world's second-largest maker of liquid crystal displays, said Thursday that it will shut down its two plants in South Korea for 12 days to cope with slowing sales amid a global recession.

The two plants in Paju, north of Seoul, and Gumi, about 260 kilometers southeast
of Seoul, will be idled from Wednesday until Jan. 4 next year, a company official
said.
The shutdown is expected to cut LG Display's quarterly output by 20 percent, the
official said.
On Dec. 10, LG Display Vice President Chung Ho-young lowered the company's
profitability forecast for the fourth quarter, citing a sharper-than-expected
fall in panel prices.
In the third-quarter of this year, LG Display saw its net income fall 44 percent
from a year ago to 295 billion won (US$211.7 million), as a global glut dragged
down LCD prices and worldwide financial turbulence undercut demand.
ygkim@yna.co.kr
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