{"id":2200617,"date":"2023-04-05T08:00:35","date_gmt":"2023-04-04T23:00:35","guid":{"rendered":"https:\/\/koreapro.org\/?p=2200617"},"modified":"2023-04-05T16:07:45","modified_gmt":"2023-04-05T07:07:45","slug":"president-yoon-visits-samsung-display-campus-to-hail-new-investment-plan","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2023\/04\/president-yoon-visits-samsung-display-campus-to-hail-new-investment-plan\/","title":{"rendered":"President Yoon visits Samsung Display campus to hail new investment plan"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">President Yoon Suk-yeol <\/span><a href=\"https:\/\/en.yna.co.kr\/view\/AEN20230404008551315?section=national\/politics\"><span style=\"font-weight: 400;\">visited<\/span><\/a><span style=\"font-weight: 400;\"> Samsung Display\u2019s Asan campus on Tuesday to celebrate a new large-scale investment deal between the company and other businesses that produce materials, parts and equipment for Samsung Display. Samsung Display announced it will invest $3.1 billion (4.1 trillion won) by 2026 to upgrade production lines for organic light-emitting diode (OLED) panels used in tablets and laptops.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Yoon promised to expand incentives for the private sector to invest in the country and support research and development to develop OLED technology to maintain South Korea\u2019s leadership position in the global market. Samsung Display\u2019s investment decision might help enhance the country\u2019s display sector amid severe competition from foreign rivals, such as China.<\/span><\/p>\n<p><b>Why It Matters<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Samsung Display\u2019s decision to invest so much in OLED panels in its Asan campus means that Samsung Electronics will rely less on Chinese display companies. South Korea overtook Japan in the display sector and maintained its leadership position for 17 years from 2004, but China overtook the ROK\u2019s top spot in 2021. South Korea is still the world\u2019s largest OLED-producing country, with <\/span><a href=\"https:\/\/www.thelec.net\/news\/articleView.html?idxno=3675&amp;replyAll=&amp;reply_sc_order_by=C\"><span style=\"font-weight: 400;\">71%<\/span><\/a><span style=\"font-weight: 400;\"> of the market share, but <\/span><a href=\"http:\/\/www.businesskorea.co.kr\/news\/articleView.html?idxno=109817\"><span style=\"font-weight: 400;\">China<\/span><\/a><span style=\"font-weight: 400;\"> is quickly catching up.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Samsung\u2019s investment is also expected to create about 26,000 jobs in the region. Yoon also vowed that the government would \u201cspare no effort\u201d to support the development of new industries in Asan. Strengthening provincial economies and small businesses will help secure local supply chains, protecting ROK manufacturers from external shocks.<\/span><\/p>\n<div class=\"content-tags\"><a href=\"https:\/\/koreapro.org\/tag\/business-economy\/\"><span class=\"tag\">Business &amp; Economy<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>President Yoon Suk-yeol visited Samsung Display\u2019s Asan campus on Tuesday to celebrate a new large-scale investment deal between the company and other businesses that produce materials, parts and equipment for Samsung Display. Samsung Display announced it will invest $3.1 billion (4.1 trillion won) by 2026 to upgrade production lines for organic light-emitting diode (OLED) panels [&hellip;]<\/p>\n","protected":false},"author":10407,"featured_media":2200618,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[24],"class_list":["post-2200617","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-briefings","tag-business-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>President Yoon visits Samsung Display campus to hail new investment plan - KOREA PRO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2023\/04\/president-yoon-visits-samsung-display-campus-to-hail-new-investment-plan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"President Yoon visits Samsung Display campus to hail new investment plan - KOREA PRO\" \/>\n<meta property=\"og:description\" content=\"President Yoon Suk-yeol visited Samsung Display\u2019s Asan campus on Tuesday to celebrate a new large-scale investment deal between the company and other businesses that produce materials, parts and equipment for Samsung Display. 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