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Samsung and LG will receive up to $29.6 million dollars in investments from the South Korean government for developing new display technologies

Recently, the South Korean government signed an agreement with two of the most popular local manufacturers of display panels, Samsung and LG. With this agreement, both companies will receive up to $29.6 million dollars in investments in the next five years.

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We find out that Samsung Display and LG Display will concentrate on the process of the development of new display panels for future markets. This agreement will be a shift form the actual focus on products for quick commercialization. In South Korea display panels are one of the top export items, with a $12.2 billion dollars products shipped in the first half of the year.

This number is just 4.3% of the country’s overall exports during the same time period. Yet, it seems that the South Korean government knows in what to invest the money. In long-term, the money investments will return tenfold mostly through the fees raised from these two producers. This will happen thanks to the technological advance hold by this country, an advance that soon will even higher compared with other players on the market.

via: koreaherald.com