Samsung Display's $1.8 Billion OLED Leap in Vietnam

Samsung Display Co plans to invest $1.8 billion for an OLED factory in northern Vietnam. The facility will be situated in Bac Ninh province’s Yen Phong industrial park, enhancing Samsung's presence in the region. The investment will increase Samsung's cumulative investment in Bac Ninh to $8.3 billion.

Samsung Display Co has announced a $1.8 billion investment to build a new OLED display manufacturing facility in northern Vietnam. The move aims to bolster Samsung's technological footprint in the region.

The future facility will be located in Yen Phong industrial park, Bac Ninh province, and will operate alongside an existing Samsung Electronics plant. Authorities confirmed the investment after a meeting between Vietnam's Prime Minister Pham Minh Chinh and Samsung group's General Director in Vietnam, Choi Joo Ho.

The agreement includes a memorandum of understanding signed with Bac Ninh authorities, pushing Samsung's total investment in the province to $8.3 billion. Over the last decade, Samsung has invested considerably in Vietnam, establishing multiple manufacturing plants and research facilities, which now total $22.4 billion.

(With inputs from agencies.)