LG Group Continues to Pull Out of China, Selling Guangzhou LCD Plant for $1.54 Billion

On November 27, hundreds of workers at LG Display (Guangzhou) Co., Ltd. staged a strike and gathered in the factory complex to protest against their treatment. The protests were sparked by LG Group’s decision to sell the facility to TCL’s subsidiary, CSOT (China Star Optoelectronics Technology). Over 500 workers are expected to be laid off or reassigned during the transfer, with potential layoffs affecting up to a thousand employees. Workers voiced strong dissatisfaction with LG Display’s severance and compensation plans, which they felt were inadequate and unfair.
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