The money will go into expanding and equipping its production lines in Asan City in South Chungcheong province, south of Seoul.
The result will be the doubling of production capacity of 14.3 inch panels from 4.5 million a year to 10 million.
The company stopped production of LCD panels last after Chinese producers slashed prices.
Samsung is focusing on premium OLEDs including foldables.
Tablet and PC makers are transitioning to OLED for premium products.
According to the Korean government the investnent will add 26,000 jobs.
View more : IGBT modules | LCD displays | Electronic Components