It's a part of the Future Flagship Program, which aims to create more jobs and income for Korea.
The folks at the Ministry of Knowledge Economy in Korea have selected LG as the company that will lead them into the technological future by developing a 60 inch flexible OLED panel by 2017. The program is designed to create jobs in Korea and strengthen the country's position as a technology leader.
The initial applications for the tech, as you might expect, will be commercial in nature. The sets could be used to wrap around columns to provide directions to passersby or, more likely, to advertise products. There's no word yet on whether a consumer grade flexible OLED will be brought to market, but it seems more prudent to get normal OLEDs out there first.