It is reported  that LG Display  is planning to build the “biggest and most advanced LCD factory in China” as part of an effort to meet the increasing demands for LCD flatscreens .

    LG signed a preliminary agreement on Aug. 21 with the city of Guangzhou, China, although the deal still needs to be approved by the South Korean government and LG’s board. South Korea must approve because “the government has the option of blocking the transfer of technologies deemed as strategic.”

    It is estimated  that the facility will cost approximately $4 billion dollars.

    The number of LCD TVs sold in China will likely jump 76 percent to 23.6 million this year, according to related research. LG’s new plant will develop eighth generation LCD technology, which is three generations ahead of any existing LCD plant in China.