Samsung Display CEO Choi Joo-sun has expressed confidence that Korea will regain its position as the top player in the global display market by 2027. Speaking before reporters at the Lotte Hotel World on March 7, Choi highlighted the importance of focusing on research and development (R&D) to compete effectively with Chinese competitors. He emphasized the need for Korea to leverage its advanced technologies to maintain its edge in the industry.
Choi’s remarks came as he assumed the role of president of the Korea Display Industry Association during its general meeting. He reiterated the industry’s potential to surpass China in display panel production by 2027.
During his inaugural address at the general meeting, Choi pledged to enhance Korea’s global position in the display industry through close cooperation with the government throughout his tenure. He addressed the disparity caused by subsidies provided by the Chinese government to support its domestic display panel sector for the need for fair competition.
Choi also noted the evolving landscape of display technologies, highlighting China’s transition from liquid crystal display (LCD) to organic light-emitting diode (OLED) technology.
Despite these developments, Choi expressed confidence in Korea’s ability to reclaim the top display panel market by 2027, citing the government and industry players’ determination and strategic outlook.
Additionally, he forecasted continued dominance in IT applications such as laptops and tablets driven by OLED technology, reaffirming Korea’s commitment to maintaining its competitive edge in the industry.
Choi emphasized Korea’s lead over China in technological advancement by approximately one to one and a half years, though he acknowledged the narrowing gap between the two countries.
He stressed the importance of sustained investment in research and development to maintain this lead and increase market appeal. Choi highlighted the necessity of improving the “hit ratio” to attract more customers and expand market share, underscoring the pivotal role of innovation in driving industry growth.
Choi highlighted Korea’s dominance in the OLED panel market, capturing 55 percent of the market share, indicating the country’s strength in advanced display technologies. He emphasized the growing demand for sophisticated technologies in the IT display panel market, driven by the increasing size of display panels used in IT devices. In this regard, Choi expressed confidence in Korean display manufacturers’ superiority over their Chinese counterparts and pledged efforts to maintain this advantage.
The IT display panel market, dominated by Korean companies such as Samsung Display and LG Display, is expected to experience steady growth, albeit at a slower pace compared to the smartphone display panel market.
Choi noted the upward trend in demand for IT display panels, signaling potential opportunities for expansion in this sector. As Choi assumes leadership in the display industry, his strategic approach to business management is anticipated to help collaborate with the government further to enhance Korea’s position in the global display market.
In May last year, the Ministry of Trade, Industry, and Energy unveiled a series of supportive measures to strengthen the Korean display industry. These initiatives encompassed tax incentives, streamlining regulations, and a substantial investment exceeding 1 trillion won in research and development endeavors.
Additionally, display manufacturers are expected to inject 65 trillion won into display technologies over five years, underlining the concerted efforts to fortify the industry’s competitive edge.
The rationale behind these initiatives lies in the escalating demand for larger displays, which necessitate more advanced technological capabilities. South Korean companies have maintained a lead over their Chinese counterparts in this regard.
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