HANOI (Reuters) - Vietnam has awarded a licence to South Korea's LG Display that will see it raise its investment in the northern port city of Haiphong by $1 billion, the city's authorities said late on Thursday.

Korea's LG Display will inject another $1 billion into its factory in Vietnam, local authorities said Friday, pushing the firm's total investment in the country to more than $5.5 billion.

South Korean electronics giant LG Display has been awarded a license that will raise the firm’s investment in Hai Phong by US$1 billion, the city's authorities said.

Vietnam has awarded a licence to South Korea's LG Display that will see it raise its investment in the northern port city of Haiphong by $1 billion, the city's authorities said late on Thursday.