Korean Government to Invest $500m in OLED R&D Facility
October 22, 2018
The South Korean government will open an OLED manufacturing facility and research and development center in Cheonan, South Chungcheong Province, according to a Pulse News article. The government will invest about 528 billion won ($467.8 million) over the next seven years, the largest-ever for a state-led research and development project in its effort to promote IT component sectors. The South Chungcheong Province government reported that the OLED display production facility project passed the final feasibility test of the Ministry of Science and ICT. The government plans to invest 165.1 billion won in the project. The plan includes the building of a four-story panel production facility in a 12,913-square-meter area in Chungnam Techno Park. The facility will house 61 manufacturing and production systems including display evaporation systems. The remaining 363 billion won will be spent on the R&D center. The R&D center will conduct 66 research projects including developing encapsulation methods for flexible OLED panels, devising OLED production cost-cutting stratagems, creating next-generation OLED displays and using OLED technology in novel applications and markets.
Figure 1: South Korean Government’s OLED R&D Facility
Source: South Chungcheong Province