South Korea eyes increase in share of global display market

South Korea aims to increase its share of the global display market to 50% by 2027, through private sector investment and government tax benefits and subsidies, the country’s industry ministry said on Thursday.

South Korea aims to increase its share of the global display market to 50% by 2027, through private sector investment and government tax benefits and subsidies, the country’s industry ministry said on Thursday.

South Korea, home to major display panel makers such as Samsung Display and LG Display Co Ltd (034220.KS), currently has a 37% share of the global display market, according to the ministry.

The ministry said the private sector planned to invest more than 65 trillion won ($49.21 billion) to expand production of advanced organic light-emitting diode (OLED) display panels and display research through 2027 in South Korea, and the government planned to offer about 900 billion won in financing.

South Korea, home to major display panel makers such as Samsung Display and LG Display Co Ltd (034220.KS), currently has a 37% share of the global display market, according to the ministry.

The ministry said the private sector planned to invest more than 65 trillion won ($49.21 billion) to expand production of advanced organic light-emitting diode (OLED) display panels and display research through 2027 in South Korea, and the government planned to offer about 900 billion won in financing.

In April, Samsung Electronics’ unit Samsung Display said it would invest 4.1 trillion won until 2026 in South Korea to make OLED display panels used in tablets and computers. Reuters