OldCooper
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Introduction:
Thanks to industry giants Samsung Display and LG Display, Korean panel manufacturers have long been known for their expertise in OLED panels. However, despite their advantages in smartphone and TV panels, their global market share has been surpassed by domestic manufacturers since 2021.
In light of this, recent reports indicate that Korean panel manufacturers are planning significant investments over the next five years to drive the growth of the panel industry.
Investment Plans:
According to the reports, the Ministry of Trade, Industry, and Energy in Korea revealed that Korean panel manufacturers, including Samsung Display and LG Display, are set to collectively invest over 65 trillion KRW by 2027. The aim is to ensure technological innovation and regain the global number one position.
The investment plans focus on research and development of next-generation panel technologies and expanding OLED panel production lines. The goal is to increase their global market share to over 50% by 2027, a significant improvement from the previous year's 37%.
Enhancing Self-sufficiency:
In addition to increasing market share, Korean panel manufacturers are also planning to enhance the self-sufficiency of materials, components, and equipment required for panel production. The target is to achieve an 80% self-sufficiency rate, compared to the previous year's 65%.
Investment Announcement:
The Ministry of Trade, Industry, and Energy announced the investment following a meeting with top executives from panel industry companies. The attendees included the CTOs of Samsung Display and LG Display, as well as the Vice President of Samsung Electronics and executives from several other companies.
Korea's Success in Panel Industry:
Since the beginning of the 21st century, Korea's panel industry has experienced robust growth. It overtook Japan between 2004 and 2020 to become the world's largest panel producer, a position it held until 2020.
Conclusion:
Korean panel manufacturers are gearing up for substantial investments in the next five years to drive technological innovation and regain their leading position in the global market. With a focus on next-generation panel technologies and expanding OLED production lines, they aim to increase their market share to over 50% by 2027. Furthermore, the plan to enhance self-sufficiency in materials and components highlights their commitment to creating a more sustainable and competitive panel industry.
Thanks to industry giants Samsung Display and LG Display, Korean panel manufacturers have long been known for their expertise in OLED panels. However, despite their advantages in smartphone and TV panels, their global market share has been surpassed by domestic manufacturers since 2021.
In light of this, recent reports indicate that Korean panel manufacturers are planning significant investments over the next five years to drive the growth of the panel industry.
Investment Plans:
According to the reports, the Ministry of Trade, Industry, and Energy in Korea revealed that Korean panel manufacturers, including Samsung Display and LG Display, are set to collectively invest over 65 trillion KRW by 2027. The aim is to ensure technological innovation and regain the global number one position.
The investment plans focus on research and development of next-generation panel technologies and expanding OLED panel production lines. The goal is to increase their global market share to over 50% by 2027, a significant improvement from the previous year's 37%.
Enhancing Self-sufficiency:
In addition to increasing market share, Korean panel manufacturers are also planning to enhance the self-sufficiency of materials, components, and equipment required for panel production. The target is to achieve an 80% self-sufficiency rate, compared to the previous year's 65%.
Investment Announcement:
The Ministry of Trade, Industry, and Energy announced the investment following a meeting with top executives from panel industry companies. The attendees included the CTOs of Samsung Display and LG Display, as well as the Vice President of Samsung Electronics and executives from several other companies.
Korea's Success in Panel Industry:
Since the beginning of the 21st century, Korea's panel industry has experienced robust growth. It overtook Japan between 2004 and 2020 to become the world's largest panel producer, a position it held until 2020.
Conclusion:
Korean panel manufacturers are gearing up for substantial investments in the next five years to drive technological innovation and regain their leading position in the global market. With a focus on next-generation panel technologies and expanding OLED production lines, they aim to increase their market share to over 50% by 2027. Furthermore, the plan to enhance self-sufficiency in materials and components highlights their commitment to creating a more sustainable and competitive panel industry.
