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LG Display to build LCD manufacturing plant in China

Bloomberg, among many others,reported this morningthat LG Display Co. plans to build the “biggest and most advanced liquid-crystal display factory in China” as part of an effort to meet the increasing demands for LCD flatscreens in the country.
The number of LCD TVs sold in China will likely jump 76 percent to 23.6 million this year, according to Austin, Texas- based DisplaySearch.
LG signed a preliminary agreement on Aug. 21 with the city of Guangzhou, China, although the deal still needs to be approved by the South Korean government and LG’s board. South Korea must approve because “the government has the option of blocking the transfer of technologies deemed as strategic.”
Bloomberg reports that the facility is to cost around $4 billion dollars, estimated by Maeil Business Newspaper.
LG’s new plant will develop eighth generation LCD technology, which is three generations ahead of any existing LCD plant in China.