South Korean LG Display to invest additional $1 billion in Vietnam, local govt says

FILE PHOTO: An LG Electronics' logo is pictured on a TV displayed at a shop in Seoul, South Korea, April 26, 2016. REUTERS/Kim Hong-Ji/File Photo

HANOI (Reuters) - Vietnam has awarded a licence to South Korea's LG Display that will see it raise its investment in the northern port city of Haiphong by $1 billion, the city's authorities said late on Thursday.

The investment will boost the company's OLED display output at its Haiphong factory and raise its total investment in Vietnam to $5.65 billion, according to a document from the Haiphong Economic Zone Authority.

(Reporting by Phuong Nguyen; Editing by John Mair)