April 29, 2016 / 2:33 AM / in a year

LG Display says to invest almost $400 million in South Korea for OLED capacity

A man looks at LG Electronics' TV sets, which are made with LG Display flat screens, at its store in Seoul, South Korea, April 26, 2016.Kim Hong-Ji

SEOUL (Reuters) - LG Display Co said on Friday it plans to invest 450 billion won ($395.99 million) in South Korea to build production capacity for flexible organic light-emitting diode (OLED) displays and OLED lighting panels.

An LG Display spokeswoman told Reuters the company would invest 310 billion won to boost flexible OLED capacity and 140 billion won to build a dedicated OLED lighting production line.

The investment adds to the 1.05 trillion won the firm committed in July 2015 for building its fourth organic light-emitting diode factory in the city of Gumi, about 200 kilometers southeast of Seoul.

Reporting by Se Young Lee; Editing by Ryan Woo

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