LG Display is in the process of setting up an OLED alliance comprised of Chinese, Japan and U.S. companies to promote its OLED panel business, according to a recent report by The Korea Times.

"We are in talks with companies from China, Japan and the United States to create an OLED Alliance," said the company CEO Han Sang-beom.

Han did not reveal further details about the alliance.

LG supplies components to major Chinese TV manufacturers and LG Electronics.

Japanese manufacturers Sony and Panasonic are the latest companies to form a partnership with LG in large-sized OLED business.

Samsung Electronics has been focused on supplying small OLED panels, many that are being applied in Galaxy handsets.

Han also noted the OLED nitrogen gas leak incident in Paju, near the North-South Korean border in January, had little impact on the company’s OLED business this year.

"We have no problems achieving this year's sales target," he said.

The Korean government forced LG to shut down its OLED manufacturing line for maintenance after a man died from nitrogen gas leak. The factory has been back in operations last week.