Moon Welcomes Samsung's Investment Plan

  • Arirang News

    October 11, 2019 08:22

    President Moon Jae-in (left) and Samsung chief Lee Jae-yong attend an event at a Samsung Display plant in Asan, South Chungcheong Province on Thursday. /Yonhap

    Samsung Display announced its plan to invest around W13.1 billion into its next-generation display business until 2025 to secure Korea's position as the global leader in the field (US$1=W1,197).

    President Moon Jae-in attended an event at its factory in Asan, South Chungcheong Province to celebrate the plan.

    There he met Samsung chief Lee Jae-yong and praised his "bold decision," which he described as the starting point of strengthening Korea's display industry to a point where "no country will dare to challenge it."

    Moon pledged government support of W400 billion to spur the industry over the next seven years. He also promised that local display manufacturers will no longer be at the whim of Japan's export curbs on key high-tech materials.

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