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Moon Hails Samsung Display's High-tech Investment Plan

Write: 2019-10-10 11:35:10Update: 2019-10-10 13:45:51

Moon Hails Samsung Display's High-tech Investment Plan

Photo : YONHAP News

President Moon Jae-in attended an investment agreement ceremony by Samsung Display on Thursday, reflecting the administration's determination to support corporate investment in cutting-edge manufacturing sectors.

At the ceremony, held at Samsung Display's plant in Asan, South Chungcheong Province, the tech firm vowed to invest 13-point-one trillion won in the next-generation display sector by 2025. 

According to the presidential office, Moon encouraged Samsung Dispay to strive to become the world’s top player through aggressive investment and in so doing make South Korea a display powerhouse. 

Moon also met Samsung Electronics Vice Chair Lee Jae-yong, who presented the investment plan at the ceremony. It is their seventh meeting this year.

Moon's attendance at the ceremony comes 99 days since Japan implemented export restrictions on shipments to South Korea of three key materials used in the production of semiconductors and displays.

The move is widely seen as retaliation over domestic court rulings ordering Japanese firms to compensate South Korean victims of colonial-era wartime forced labor.

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