LG Display has reportedly signed a non-binding memorandum of understanding with the municipal government of Guangzhou for this new project, in which LG Display will introduce its advanced eighth-generation LCD technology to enable the production of 50-inch LCD televisions in this plant.

According to a spokesperson from LG Display, the construction of a new plant will take at least two years and and the financing needs may be re-evaluated later. In addition, the project still needs the approval of LG Display's board of directors.

LG Display currently has two LCD module factories in China, making flat displays for LCD televisions and notebooks.