After several rounds of discussions, the government of South Korea finally lifted the bar for LG Display to set up a new 8.5G OLED (Organic Light Emitting Diode) panel production facility in Guangzhou, China, according to China Times on December 27. The total investment for the facility will be five trillion Won (USD 4.5 billion; USD1 = 1,040 Won), 70% of which will be from LD Display and 30% from Guangzhou Development District Financial Holdings. In addition, this new facility will be LD Display's first overseas OLED panel line and its second 8.5G line in Guangzhou. Its first 8.5G LCD panel line was built at the same premises in 2014. Upon completion, the new facility will be able to begin mass production in the second half of 2019 with a month capacity of 60,000 OLED panels. On top of that, this will help LD Display cut down the tariff for panels exporting from Korea to China from the current 15%-30% to zero if produced locally, and better tap the increasing OLED TV demand in China.