LG Display to set up plant in China

(ATTN: CHANGES headline, lead; UPDATES stock price)
SEOUL, Aug. 25 (Yonhap) -- LG Display Co., the world's second-largest flat panel
maker, said Tuesday it is pushing to build a next-generation liquid crystal
display (LCD) plant in southeastern China.
LG Display has signed a preliminary deal with the city of Guangzhou, China, the
company said in a regulatory filing, responding to a media report. Earlier in the
day, the Korea Exchange, the main bourse operator, called on LG Display to make
public its position on the report.
In its Tuesday edition, the vernacular Maeil Business Newspaper reported that LG
Display signed an agreement with the government of Guangzhou to build an
8th-generation panel plant at a cost of some 5 trillion won (US$4 billion).
The company needs to get approval from the South Korean government in order to
build a plant overseas, as technologies related to producing LCD panels are
designated as among the nation's key technologies.
Shares of LG Display were trading at 35,400 won as of 11:25 a.m., up 0.14 percent
from the previous session.
ygkim@yna.co.kr
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