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.

With the extra money, LG Display's total investment in Vietnam is now worth $5.65 billion. Vietnam's Hai Phong industrial city is home to more than 1,000 foreign-invested projects worth more than $32 billion. South Korea is the biggest investor in the city with $11 billion, followed by China and Japan, the city said in an online statement.

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.