Han Sang-bum, the chief executive of LG Display, was appointed on Monday to head the Korea Display Industry Association, a group for display businesses in Korea.

The KDIA announced Han’s nomination at a general meeting held earlier in the day in Seoul, where it also unveiled its results of projects in 2014 and business plans for this year. 

“Amid fierce competition in the global display industry, I feel responsible as well as challenged to lead the association,” said the LG Display CEO in his acceptance speech, vowing to offer tailored support for association members to deal with market volatilities.

The board members of the association, meanwhile, pledged at a meeting that they would make efforts to create an ecosystem that supports research and development of small and medium-sized businesses and help the companies to tap into global markets.

The association will create a fund worth 25 billion won ($22.5million) for the next five years together with the Korean government and private firms to develop core technologies for future displays. It also plans to host regular meetings among industry players and related government agencies from Korea and China.

By Kim Young-won (wone0102@heraldcorp.com)