National Growth Fund to Provide Low-Interest Loan of 1 Trillion Won to LG Display to Strengthen OLED Competitiveness
The National Growth Fund has reportedly decided to support LG Display with a low-interest loan of 1 trillion won to strengthen the competitiveness of the organic light-emitting diode (OLED) industry.
According to Yonhap News Agency and the financial industry on July 23, the Financial Services Commission held an Investment Review Committee meeting for the National Growth Fund on July 21 and approved a plan to provide a low-interest loan worth approximately 1 trillion won to LG Display. The support plan is expected to be finalized after the Fund Operations Review Committee meeting next week.
It has been reported that LG Display plans to use the funds to advance small- and medium-sized OLED production technology.
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Previously, the Financial Services Commission, in its semi-annual work report to the president, announced measures to increase the size of the National Growth Fund from the previous 150 trillion won to 200 trillion won. The scope of support will also be expanded to include new industries such as aerospace, in addition to the 12 existing advanced industries—including semiconductors, displays, artificial intelligence (AI), and bio.
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