LG Display Co. said Wednesday it is considering various options, including loans, to fund its major investment plan announced earlier this week aimed at beefing up its competitiveness in the organic light-emitting diode panels.
"While funds for investment, in principle, should be raised from businesses, they should also come in a timely manner," the company said during a conference call with investors.
The remark came after LG Display said it will invest 7.8 trillion won ($6.9 billion) to build facilities for the production of OLED panels.
Of the amount, the company said 2.8 trillion won will be spent on the 10.5-generation OLED panel production line, while 5 trillion won will be allocated for the mid-sized Plastic OLED products.
Following the latest decision, the company said its capital spending throughout 2020 will reach a whopping 15 trillion won.
LG Display said the investment was aimed at taking pre-emptive steps for its future growth. Other options also include joining ties with partners, including China's Guangzhou, it added.
The company ruled out a possible technology leak caused by a joint venture to produce 8.5-generation OLED panels in Guangzhou, citing very complex production processes.
On Tuesday, LG Display said through a regulatory filing its net profit came to 736.6 billion won in the April-June period, compared with a net loss of 83.9 billion won posted a year earlier. (Yonhap)