[Edaily Reporter Choi Oh-hyun ] LG Display has withdrawn its plan to sell the automotive LCD module business of its Nanjing, China subsidiary, which it had been pursuing to streamline its operations.

According to the Financial Supervisory Service’s electronic disclosure system on the 23rd, LG Display issued a corrected disclosure that day stating it was terminating the contract to transfer the automotive LCD module business of its subsidiary, LG Display Nanjing.

LG Display explained, “Although both parties continued to discuss the details of the key terms of the contract, they were unable to reach a final agreement regarding the completion of the transaction, so we have withdrawn the decision to transfer the business.”

LG Display’s Nanjing subsidiary signed a contract with TOP RUN TOTAL SOLUTION CO.,LTD last February to transfer its automotive LCD module business. The transfer price was 491.5 million yuan (approximately 104,195.3 million won).

LG Display’s original plan was to outsource the production of automotive LCD modules to improve operational efficiency and profitability. This involved selling the automotive LCD module production business previously handled by LG Display Nanjing and entrusting the production of related products to an external vendor.

However, during the negotiations to finalize the deal following the signing of the contract, the two sides were unable to reach a final agreement. The original transfer date was July 30, but it was postponed once to September 30, and ultimately, the sale itself fell through.