LG Display Chosen To Develop 60-inch flexible OLED By Korean Government

As shown in the case of the mobile phone industry, the Korean government’s direct intervention in picking winners and losers in specific product/industry development tends to serve the interests of a chosen few, not the general public in the long run.  Instead, they should use more indirect measures such as tax cuts and implement institutional arrangements for businesses to pursue technological innovation and capital investments on a level playing field.  The state-backed, chaebol-centered innovation undertaking in a mercantilistic twist Korea has engaged in has fundamental flaws over the long haul.

From Korea Herald:

LG Display has been chosen by the government to lead a project to develop transparent and flexible organic light-emitting diode displays.

Korea’s second-largest display-panel maker said that it will develop proprietary technology for ultra high-definition, 60-inch flexible OLED displays by 2017 as part of the government’s “Future Flagship Program” to promote next-generation technologies.

The Ministry of Knowledge Economy, which is spearheading this program, is aiming to achieve exports worth $56 billion and create 840,000 jobs through the research and development of transparent and flexible displays, LG Display said.

OLED has been chosen as one of the key technologies the government seeks to further develop by strengthening the industry’s R&D capability.

http://khnews.kheraldm.com/kh/view.php?ud=20120711001123&md=20120711201332_8