Samsung Display to build $1.8 bn OLED plant in Vietnam

Vietnamese Prime Minister Phạm Minh Chính(right) shakes hands with Samsung Electronics Chairman Lee Jae-yong for a photo during their meeting at Lotte Hotel in Seoul on July 2. (Vietnam Government Portal)

Samsung Display Co. is set to build a new organic light-emitting diode (OLED) factory in Vietnam, which will focus on producing OLED modules for tech applications.

According to sources familiar with the plans, Samsung Display recently signed a memorandum of understanding (MOU) with the People’s Committee in Vietnam’s Bắc Ninh province to build the plant near Yen Phong Industrial Park.

Samsung has already invested $6.5 billion in Bắc Ninh alone, and the investment is worth up to 2.4 trillion won ($1.8 billion). The company’s total investment in the region will hit $8.3 billion once the new factory is completed.