Following an earlier announcement that it was in talks with the Guangzhou municipal government over the establishment of a new LCD (Liquid Crystal Display) plant, Korean LG Group subsidiary LG Display announced on August 25 that the company has entered into a MoU (Memorandum of Understanding) with the said government, whereby LG Display will build a new LCD panel manufacturing plant in Guangzhou, Dow Jones reported on August 25. The value of the investment is estimated to reach over US$3 billion.

The new facility, to be located in an industrial park located in Guangzhou, called Guangzhou Science City, is estimated to deliver panels for use in 50-inch LCD TVs leveraging 8G technology, according to the same source. This deal, however, is still pending approval by Korea's government and LG Display's board members. Should this deal be granted, this new facility, the company's first plant in China, will not be completed until two to three years later. Aside from this plant, LG also has another 8G plant located in Paju, Korea.