Chinese Panel Manufacturers Actively Poach Korean OLED Engineers with Higher Salaries to Seize Market Opportunities

After the robust growth of LCD, in order to expand panel industry, China has focused on OLED. In addition, to accelerate the development speed, Chinese panel manufacturers have actively poached Korean panel engineers with higher salaries.

(Image Source: LG)

According to Business Korea, China is actively working on the cultivation project of OLED. In the display industry around the world, China is developing quickly. In the LCD market, thanks to the subsidies and supports from Chinese government, Chinese panel manufacturers such as BOE and CSOT could compete in the market with low prices and grow steadily. This also led to the withdrawal of Korean panel manufacturers such as Samsung Display and LG Display from the LCD market and the focus on OLED development.

After the expansion of LCD, Chinese panel manufacturers have concentrated on OLED. Yet, in terms of the OLED technology, there is a gap between China and Korea. In order to improve technical ability and speed up the development, Chinese panel manufacturers have conducted poaching strategy with high prices, expecting to lure related talent from South Korea.

According to Business Korea, a Chinese panel manufacturer has released an OLED engineer job offer via a Korean headhunting company in early December. These panel manufacturers have offered excellent benefits such as “an annual payment of KRW 500 million, guaranteed living expenses and high-end apartments when working locally, or 10 times payment and unlimited air tickets”. These benefits are mostly provided to executives or directors at large Korean firms.

Currently, Korea still dominates the supply of OLED TV panels around the world. However, Chinese panel manufacturers take an aggressive attitude. For example, CSOT announced the project of setting up 8.5-generation OLED panel production lines in Guangzhou next year. Besides, in June 2020, it received 11% of the Japanese company JOLED for JPY 20 billion. With China joining in the competition and government’s supports and poaching strategy, Korean panel manufacturers have been threatened. In the future, it is worth observing whether the history of LCD panel industry will be repeated.

(This article is reposted by TechNews)

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