“On December 31, 2025, South Korea’s LG Group announced the closure of its LG Display factory in Yantai. All equipment was removed, and over 1,400 employees received severance pay and left. Employees who worked for about ten years got around 60,000 to 70,000 yuan, while team leaders got around 120,000 yuan. This factory was built in 2010 and was the largest foreign-invested company in Yantai at the time. At its peak, there were over 10,000 employees, producing phone screens for companies like Apple, Samsung, and Xiaomi.”
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