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For the development of III-nitride-semiconductor-based monolithic micro-light-emitting diode (LED) displays, Eu,O-codoped GaN (GaN:Eu,O) is a promising material candidate for the red LEDs. The luminescence efficiency of Eu-related emission strongly depends on the local atomic structure of Eu ions. Our previous research has revealed that post-growth thermal annealing is an effective method for reconfiguring luminescent sites, leading to a significant increase in light output. We observed the preferential formation of a site with a peak at ∼2.004 eV by the annealing process. In this study, we demonstrate that it is a previously unidentified independent site (OMVPE-X) using combined excitation–emission spectroscopy and time-resolved photoluminescence measurements. In addition, we perform excitation power-dependent photoluminescence measurements and show that this OMVPE-X site dominates the emission at a low excitation power region despite its small relative abundance, suggesting a high excitation efficiency. Most importantly, applying our annealing technique to an LED exhibits a reasonably increased electroluminescence intensity associated with OMVPE-X, confirming that this site has a high excitation efficiency also under current injection. These results demonstrate the importance of OMVPE-X as a notable luminescent site for brighter and more efficient GaN:Eu,O-based LEDs.