As one of the most lucrative divisions of the conglomerate, Samsung Display is always at the forefront of technological advancements. We saw this firsthand at MWC 2023 where Samsung Display showcased its futuristic foldable display prototypes.
Samsung Display continues to make investments to improve its capabilities. It recently inked a $3.1 billion deal with materials, parts and equipment manufacturers. Given that this deal will have a significant impact on the country's economy, it earned the company a visit from Yoon Suk Yeol, the President of South Korea.
More incentives promised to support OLED industry
President Yoon Suk Yeol paid a visit to the Asan campus of Samsung Display today to commemorate the new large-scale investment deal between Samsung Display and its suppliers. A ceremony was organized at the factory where this deal was announced.
The $3.1 billion investment will be utilized to upgrade production lines by 2026 for OLED panels that Samsung Display makes for laptops, tablets, and other devices. Samsung Display will also help Korean manufacturers of display parts, equipment, and materials to improve their competitiveness by working on joint technology development, production innovation, and early payment for orders.
President Yoon said that this deal highlights a new leap for the country's display industry. He also promised to provide further support to the OLED industry so that it can retain its top spot in the global market by offering more incentives for investment and supporting further research and development for OLED technology upgrades.
