17th Display Industry Day ceremony
Samsung Display supplies all OLED panels for Apple's iPhone Duo
Lee Cheong expresses confidence in foldable technology lead
Warns of China's 'relentless offensive' backed by capital and policy support
Government pledges support until 80% market share is reclaimed
500 billion won research institute planned
Lee Cheong, chairman of the Korea Display Industry Association and chief executive of Samsung Display, expressed confidence in his company's foldable display technology, declaring "we're the best."
On China's pursuit of OLED technology, he warned that the industry "cannot repeat the painful experience of LCD."
Lee made the remarks Thursday afternoon at the 17th Display Industry Day ceremony at Lotte Hotel World in Seoul, opening with a note on the difficult business environment. "Over the past year, external conditions — including oil price instability triggered by the war in the Middle East, rising raw material and component costs, and demand contraction caused by chipflation — have continued to weigh on the industry," he said.
He was particularly alert to China's rise. "A rival nation that once seized dominance in LCD through technology theft and aggressive government support is now reinvesting its accumulated capital and capabilities into OLED, once again setting its sights squarely on Korea's display industry," Lee warned.
He added that while Korea had pioneered the OLED market through relentless technological innovation and sustained investment, its competitors were "mounting a relentless offensive to enter the global market, rapidly expanding production capacity in a short period backed by massive capital and policy support."
"We cannot repeat the painful experience of LCD," Lee said, adding that if industry, government, academia and research institutions truly came together as "one team" to protect core technologies and build next-generation competitiveness, "we can turn the tide on this uneven playing field back in our favor."
He went on to say that every individual present played a vital role. "Your technology, experience and effort have built Korea's display industry today and will lead 'Display Powerhouse Korea' tomorrow," he said. "I hope this becomes a time of gathering strength and preparing for new challenges."
Earlier, ahead of the ceremony, Lee told reporters that Samsung Display's foldable technology was superior to China's, saying simply, "we're the best."
Samsung Display is supplying all foldable display panels for the iPhone Duo, Apple's first foldable phone, which was recently unveiled.
As China accelerates its push into OLED — having already overtaken Korea in LCD — both the government and the National Assembly pledged full support.
Democratic Party of Korea lawmaker Park Jeong said displays would grow increasingly important as the interface through which people interact with AI, urging the Ministry of Trade, Industry and Energy to "provide sufficient policy backing so that our companies can maintain an overwhelming lead in the global market."
Democratic Party lawmaker Jeon Eun-su said the display industry had become "a contest of national capabilities, not just corporate competition," and pledged that the government would take the lead on necessary support and regulatory reform rather than leaving it all to companies. "We will do our utmost to put in place the laws and systems needed during this regular session of the National Assembly," she said.
Min Woo Lee, director general for industrial growth at the Ministry of Trade, Industry and Energy, said Korea's OLED market share had peaked at 81.3 percent in 2022 before falling to 67.2 percent in 2024, with a slight recovery to 68.7 percent last year. "The government will continue its support until we surpass 70 percent this year and reclaim 80 percent," he promised.
He added that the government would increase display research and development funding by 5.5 percent to 117 billion won ($85.5 million) and was conducting a preliminary feasibility study for a display research institute worth 500 billion won. "We will work hard to create new markets," he said.
Meanwhile, 36 individuals who contributed to the advancement of the display industry were honored with government and private-sector awards at the ceremony.
The Silver Tower Order of Industrial Service Merit went to Lee Ki-seung, chief executive of Se Gyung Hi Tech, for his contributions to localizing materials, components and equipment and to the designation of national advanced strategic technologies.
A presidential commendation was awarded to Yoon Ji-hwan, executive vice president of Samsung Display, who led the development of the world's first QD-OLED technology.
Hwang Sang-geun, an executive at LG Display, and Lee Jae-hyeok, chief executive of ELP, each received a prime ministerial commendation.
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