"Samsung Display to Invest 67 Trillion Won"... South Chungcheong Province Opens the Door to a Leap in Advanced Industries

[Financial News, Hongseong = Kim Won-joon] A major advanced-industry investment project worth a combined 202 trillion won, announced by the government and the Chungcheong region, has now entered full-scale implementation, beginning with Samsung Display's 67 trillion won investment.
South Chungcheong Province (Chungnam) said on the 1st that it exchanged a "Chungnam Advanced Industry Investment Memorandum of Understanding (MOU)" with Samsung Display, Asan-si, Korea Electric Power Corporation (KEPCO), and Korea Water Resources Corporation (K-water) in the provincial government conference room. The signing ceremony was attended by Park Soo-hyun, governor of Chungnam; Chung Yi, CEO of Samsung Display; Park Seung-hee, president of Samsung Electronics; Se-hyun Oh, mayor of Asan-si; Kim Jae-gun, head of KEPCO's power grid division; and Lee Jong-sik, head of K-water's Geumgang Basin headquarters.
Under the agreement, Samsung Display will gradually invest a total of 67 trillion won to build organic light-emitting diode (OLED) and next-generation display production lines centered in Asan, Chungnam. As the first phase of the project, the company plans to establish a new production line by June 2028 on a 99,141-square-meter site inside the Asan Display City 2 general industrial complex.
Chungnam Province and Asan-si will provide administrative and financial support, including fast-tracking permits and approvals, while KEPCO and K-water will work closely together to ensure a stable supply of electricity and industrial water, both essential for large-scale factory operations.
The province also plans to launch the "Chungnam Advanced Strategic Industry Leap Task Force (TF)," led by the vice governor for administration, and provide close support for corporate investment through lightning-fast administration centered on power, water, and labor.
As the global display market is rapidly shifting away from its traditional focus on smartphones and televisions toward laptops, tablets, information technology (IT), automotive OLEDs, and extended reality (XR) devices, Samsung Display's investment is seen as a strategy to fend off the aggressive advance of Chinese companies and solidify its technological and mass-production lead. In particular, analysts say the expansion of next-generation lines, including high-value-added 8.6-generation OLEDs for IT devices, is aimed at maintaining its overwhelming share of the global small- and mid-sized display market.
Starting with Samsung Display, Chungnam Province plans to concentrate its administrative capabilities so that follow-up investments in the region by major conglomerates such as Samsung Electronics, Samsung SDI, and SK Group, which are scheduled for the future, can also proceed without disruption.
Park Soo-hyun, governor of Chungnam Province, said, "Samsung Display's investment is a signal flare announcing a new leap forward for Chungnam's advanced industries." He added, "We will devote all our capabilities to strengthening the unrivaled competitiveness of next-generation display industries, including OLED, so that Korea can continue to lead the global market."
[email protected] Kim Won-joon Reporter