LG Chem has developed the world’s first OLED light panel with high luminous efficacy and long-lasting performance that can compete with LED lights.

The industrial materials giant said Thursday that its OLED light panel has an efficacy rate of 100 lumens per watt that can last about 40,000 hours. Existing OLED lights have 60 lm/w.

Fluorescent lights typically have the same luminous efficacy as OLED lights, but only last about 20,000 hours, while 100 lm/w LED lights have a longer lumen output by about 10,000 hours than OLED lights.

But LG Chem said the production of OLED light panels takes fewer steps and processes than that of LED. To this end, OLED lights weigh 20 percent lighter than LED lights.

“The assembly process of OLED lights does not require equipment such as heat sinks and frames, which are needed to make LED lights,” LG Chem said in a press release.

“Thus, OLED lights do not waste energy (as much as LEDs).”

Also, they are much more environmentally friendly than LEDs as OLED lights do not have hazardous heavy metal components such as mercury and lead, LG Chem said.

The LG flagship said it would offer the panels to the global market beginning in November, mostly targeting consumers in North America and Europe.

It already secured partnerships with some 50 companies in those regions including Acuity Brands, with the aim of sealing deals to supply OLED panels for automotive rear lamps to global automakers.

“LG Chem is currently developing OLED panels for rear lamps in partnership with Japanese and European automakers by 2017 in line with efforts to grab about 20 percent of this market,” LG Chem said.

LG Chem has been focusing on expanding into new growth areas such as industrial materials and automotive parts amid a slowdown in the traditional petrochemical industry.

By Park Hyong-ki (hkp@heraldcorp.com)