There have been some conspiracy theories, mostly regarding LG wanting to inflate OLED panel prices by deliberately keeping panel production low so competitors wont take away LG's OLED sales monopoly. Moving to China would not be a good idea if that was the case.
The potential issue for LG is that if OLED is exclusively to remain their proprietary technology it wont become the new LCD for the future, it wont find a larger more diverse market, that is why Samsung's QLED win the sales race every year.
QLED is also being adopted on a larger scale by other manufacturers as well, as a result quantum dot tech offers more potential R&D investment from having more manufacturers than OLED , especially while it remains LG's exclusive proprietary property, so quantum dot tech potentially provides better value for money for QLED manufacturers in the long term. This would not be good news for LG.