Korea Offers Tax Benefits as OLED Incentive

The Korean government plans to expand the country’s leadership in OLEDs, in an effort to stay ahead of competitors in China and Japan.

LG Display CEO Han Sang-Beom, seen here at IFA 2015, said at the event that LGD expects another tough year in 2016.At an event in Seoul on the 9th October, minister of trade and energy, Yoon Sang-jick, said, “Korea’s longtime leadership in displays is increasingly challenged as Chinese and Japanese competitors are quickly narrowing the gap with Korean companies with massive investments in displays… We need to think how to keep the country competitive in the industry”.

Korea plans to offer new financial benefits to companies focusing on OLED projects. These will include tax benefits, tarrif cuts and administrative support.

Yoon urged Samsung Display and LG Display to work together more closely to create an OLED ecosystem; from components, materials and equipment to finished products.

There was no comment when Yoon was asked whether SDC or LGD had submitted proposals for approval to proceed with plans to build new OLED fabs in the country.