LG Display will sell production lines and some land at its North Gyeongsang Gumi plant to Hydrogen Fuel Cell corporations MiCo Power.
According to the industry on the 1st, LG Display decided to sell the idled North Gyeongsang Gumi plant and 200,000㎡ (about 60,000 pyeong) of land to MiCo Power. The specific sale price was not disclosed. An LG Display official said, "We are selling the P2 and P3 line plants and some land within the Gumi National Industrial Complex." MiCo Power was said to plan to build a Hydrogen Fuel Cell production line at the site.
LG Display has produced liquid crystal displays (LCDs) in North Gyeongsang Gumi, but it began shutting down some production lines in 2018 due to low-price competition from Chinese companies. It is currently producing in-vehicle LCD panels and organic light-emitting diodes (OLEDs) in Gumi.