LG Display, South Korea's major producer of organic light-emitting diode (OLED) panels, said Friday that it has opened its 8.5th-generation OLED panel plant in Guangzhou, the provincial capital of China's Guangdong Province.

The new plant started mass-production this month and will manufacture large-size high-resolution OLED products, including 55-inch, 65-inch and 77-inch panels, the South Korean flat screen maker said in a statement.

The initial monthly capacity of the plant was 60,000 sheets, which will be expanded to 90,000 sheets by 2021.

The 8.5th-generaiton factory wis operated by LG Display High-Tech China, a joint venture between LG Display and Guangzhou Development District (GDD) in which the South Korean company holds a 70 percent stake.

"Based on our vast experience and capability in OLED production, LG Display will make every effort to ensure the success of LG Display High-Tech China," said Han Sang-beom, chief executive and vice chairman of LG Display.

"With our dual OLED panel production sites in (South) Korea and China, the company will further accelerate the OLED trend in the global premium TV market by providing large-size OLED panels to the world," Han noted.

LG Display has its OLED panel plant with a monthly capacity of 70,000 sheets in Paju, a city in Gyeonggi Province of South Korea. It plans to produce additional 45,000 sheets a month at its 10.5th-generaton factory in Paju from 2022.

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