Vietnam has awarded a license to South Korea’s LG Display that will see it raise its investment in the Haiphong city by $1.4 billion.

The investment will boost the LG Display’s OLED display output at the Haiphong factory to 13 million to 14 million units per month, from the current 9.6 million to 10.1 million monthly units, Haiphong city’s People’ Committee said on Tuesday.

The additional $1.4 billion will raise the LG Display investment to $4.65 billion.

The additional investment would generate 10,000 new jobs and create export revenue of $6.5 billion a year.