(MENAFN) A governmental panel has approved LG Display Co.'s 5t won project to establish its first large organic light-emitting diode plant in China.
Under the Ministry of Trade, Industry and Energy, the panel has been checking the plan since July when the company asked for the government's approval to the investment in China.
The government approved the projects under the condition that the company must increase the localization of its equipment and its investment at home.
LG's market share of large display panels came in at 19.3% of the total in Q3, dropping to No.2 spot for the first time since 2009.
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