EWING, N.J.-- August 30, 2023 -- Universal Display Corporation (Nasdaq: OLED) (UDC), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, announced today the recipients of the UDC Innovative Research Award in Organic Electronics & Display and the UDC Pioneering Technology Award in Organic Electronics & Display. These awards were presented at the 23rd International Meeting on Information Display (IMID 2023) conference on August 24th in Busan, Korea by Dr. Mike Weaver, Vice President of PHOLED R&D of Universal Display Corporation.

The 2023 UDC Award recipients are:

UDC Innovative Research Award in Organic Electronics & Display: Jeehoon Sim (Korea Advanced Institute of Science & Technology (KAIST), Korea), Jinhee Kwon (Asan Medical Center, Korea), Hyeonwook Chae, Subon Kim (KAIST, Korea), Hyunsu Cho (Electronics and Telecommunications Research Institute (ETRI), Korea), Woochan Lee (KAIST, Korea), Sohee Kim (Asan Medical Center, Korea), Chunwon Byun (ETRI, Korea), Sangin Hahn (KAIST, Korea), Dohyun Park (Asan Medical Center, Korea), and Seunghyup Yoo (KAIST, Korea) for their paper “OLED for Healthcare: Management of Diabetes via Inner-Body Photobiomodulation.”

UDC Pioneering Technology Award in Organic Electronics & Display: Kiun Cheong, Unhyeok Jo (Sungkyunkwan University, Korea), Wanpyo Hong (Gachon University, Korea), and Junyeob Lee (Sungkyunkwan University, Korea) for their paper “Highly Stable and Efficient Deep Blue Phosphorescent Organic Light-Emitting Diodes Based on Tetradentate Pt(II) Complexes with Bulky Fused Cycloalkyl Unit.”

“As a global leader deeply rooted in innovation, UDC is focused on nurturing the brilliant minds that will lead us into a new era of discovery and progress. We are pleased to continue our partnerships with IMID and KIDS and support the Korean scientific community’s quest for knowledge with these grants. We congratulate the UDC Innovative Research Award and UDC Pioneering Technology Award recipients and applaud all the researchers for their contributions in the growing field of organic electronics and displays. Together, we can drive innovation, advance science and shape a brighter future for generations to come,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display Corporation.

The UDC awards recognize outstanding individuals or teams that have demonstrated innovative ideas or research initiatives impacting the organic electronic and display industries. The winners were selected by IMID and KIDS (Korean Information Display Society).

Universal Display Corporation (Nasdaq: OLED) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. Founded in 1994 and with subsidiaries and offices around the world, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 6,000 patents issued and pending worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of energy-efficient and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training. To learn more about Universal Display Corporation, please visit https://oled.com/.

Universal Display Corporation and the Universal Display Corporation logo are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks.

All statements in this document that are not historical, such as those relating to the projected adoption, development and advancement of the Company’s technologies, and the Company’s expected results and future declaration of dividends, as well as the growth of the OLED market and the Company’s opportunities in that market, are forward-looking financial statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporation’s current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled “Risk Factors” in Universal Display Corporation’s Annual Report on Form 10-K for the year ended December 31, 2022. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.