Lee Chung, Display Association Chief: "We Must Not Repeat LCD's Painful Lessons... Protect OLED as One Team"

Welcome Address at the 17th Display Day Ceremony
Warning Against Middle East Instability, Chipflation, and Aggressive Chinese OLED Expansion
Pushing Forward Strategic R&D Planning for 2040 Future Technologies

"We cannot afford to repeat the painful experiences of the past with LCDs (Liquid Crystal Displays). If industries, the government, academia, and research institutes join forces as a 'one team' to safeguard core technologies and foster next-generation competitiveness, we can reverse the outcome on this uneven playing field."

Lee Chung, President and CEO of Samsung Display (Chairman of the Korea Display Industry Association), expressed a strong determination to firmly protect Korea's leadership in OLED (organic light-emitting diode) technology and market dominance—the core of the nation's display industry—amid fierce pursuit by competing countries.

Lee Cheong, CEO of Samsung Display and Chairman of the Korea Display Industry Association, is delivering a welcome speech at the 17th Display Day ceremony held on the 17th at Lotte Hotel World in Seoul. Photo by Jin-Young Kim

During his welcome address at the 17th Display Day ceremony, held at Lotte Hotel World in Seoul on the 17th, Lee assessed the grave reality facing the industry, stating, "Externally, the management environment remains unstable due to rising oil prices fueled by the Middle East war, soaring raw material and component prices, and dwindling market demand caused by 'chipflation.'"

He identified the pursuit by rival nations backed by ample capital as the greatest threat. Lee highlighted, "Competing countries, who once claimed LCD supremacy by stealing technology and offering aggressive government support, are now reinvesting their accumulated resources and expertise into OLED, once again setting their sights on Korea's display industry." He further warned, "While Korea has pioneered new OLED markets through continuous technological innovation and sustained investment, competing nations are leveraging massive financial resources and policy support to rapidly expand production capacity and launch aggressive campaigns for global market entry."

As a solution to overcome these challenges, he stressed the need to build a nation-wide 'one team' system. Lee stated, "I hope this gathering serves as a moment to encourage each other's hard work as a team and to pool our strength in preparation for new challenges. Together with all of you, I will combine our technologies, experiences, and efforts to lead Korea as a powerhouse in tomorrow's display industry."

Prior to the event, Lee also spoke confidently to the press regarding Samsung Display's foldable technology, saying, "We're simply the best when it comes to foldable technology."

(Front row from left) Cheol Dong Jung, President of LG Display; Minwoo Lee, Director General of Industrial Growth at the Ministry of Trade, Industry and Energy; and Chung Lee, CEO of Samsung Display and Chairman of the Korea Display Industry Association, are posing for a commemorative photo with award recipients ahead of the "17th Display Day" ceremony held on the 17th at Lotte Hotel World in Seoul. Photo by Jinyoung Kim

At the event, government representatives and leaders from the industrial, academic, and research sectors of the display industry came together to reaffirm their resolve to innovate technology, create new markets, and strengthen the industrial ecosystem in response to intensified global competition and the technological advances of major countries. Display Day was established to commemorate Korea's first achievement of 10 billion dollars in panel exports (October 2006). This year, awards were presented to a total of 36 individuals who have raised the stature of K-Display and contributed to the industry's development.

This year's prestigious Silver Tower Order of Industrial Service Merit was awarded to Lee Kisung, CEO of SEKONIX High Tech, in recognition of his breakthrough in dramatically increasing the localization rate of materials, components, and equipment, and for playing a key role in designating the display industry as a national core strategic technology. The Presidential Citation was awarded to Yoon Jihwan, Executive Vice President of Samsung Display, who led the world's first development of quantum dot OLED (QD-OLED) technology, expanding the premium market and promoting win-win supply chains. The Prime Minister's Citation went to Hwang Sangkeun, Senior Vice President at LG Display, who has championed exports of domestic panels in the global business arena, and Lee Jaehyuk, CEO of ELP, who over 34 years has contributed to the localization of inspection equipment and to advancing next-generation XR (extended reality) equipment technologies.

The government plans to further strengthen policy support to secure K-Display's unrivaled competitive edge. The Ministry of Trade, Industry and Energy will forecast display technology trends expected to shape future lifestyles by 2040, and strategically pursue research and development (R&D) with these predictions in mind. To this end, following expert consultations, five key technology areas have been identified: ▲Digital Life ▲Mobility ▲Human Interface ▲Public/Media ▲Sustainability. The government will proactively discover tasks for technological and process innovation to secure dominance in future markets.

Lee Minwoo, Director General of the Industrial Growth Bureau at the Ministry of Trade, Industry and Energy, stated in his congratulatory address, "Even amid fierce global competition for technological supremacy, K-Display has remained at the top of the world, thanks to the dedication of all the industry professionals who have worked tirelessly in the field. The government will spare no effort in providing comprehensive support for technological innovation, new market creation, and ecosystem strengthening in the display industry."

Chul-Dong Jeong, President of LG Display (fourth from the left in the front row), Min-Woo Lee, Director General of Industrial Growth Bureau at the Ministry of Trade, Industry and Energy (fifth from the left in the front row), and Cheong Lee, CEO and President of Samsung Display (sixth from the left in the front row) are taking a commemorative photo with awardees before the 17th Display Day ceremony held at Lotte Hotel World in Seoul on the 17th. Photo by Jinyoung Kim

This content was produced with the assistance of AI translation services.