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.

In a landmark move set to deepen economic ties between Vietnam and South Korea, LG Display has been granted an investment license by Vietnamese authorities to increase its investment in the Haiphong Economic Zone by $1 billion.

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.