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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] LG Display is set to sell a portion of the land at its inactive Gumi manufacturing complex to Mico Power, a subsidiary of Mico Ceramics, according to industry sources on December 1.
The deal involves approximately 200,000 square meters of land—previously home to the company’s former LCD production lines P2 and P3. While the sale price and intended use of the funds were not disclosed, the proceeds are expected to support LG Display’s development of next-generation technologies such as premium OLED products, as well as contribute to financial restructuring.
LG Display had shut down its LCD production lines in Gumi, including P2, P3, and P4, between 2017 and 2018 as competition from Chinese manufacturers intensified and profitability declined.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
