LG Display Files 6-K Report

TL;DR

LG Display (LG.Philips LCD) filed a 6-K, standard foreign issuer report.

AI Summary

LG Display Co., Ltd. filed a Form 6-K on May 16, 2024, reporting as a foreign private issuer. The company, formerly known as LG.Philips LCD Co., Ltd. until May 12, 2004, is based in Seoul, Republic of Korea, and operates in the electronic components sector.

Why It Matters

This filing indicates LG Display is fulfilling its reporting obligations as a foreign private issuer with the SEC, providing transparency to investors.

Risk Assessment

Risk Level: low — This is a routine filing for a foreign private issuer and does not contain specific financial or operational disclosures that would indicate immediate risk.

Key Players & Entities

• LG Display Co., Ltd. (company) — Registrant
• LG.Philips LCD Co., Ltd. (company) — Former company name
• May 16, 2024 (date) — Filing date
• May 12, 2004 (date) — Date of name change
• Seoul, Republic of Korea (location) — Principal executive offices

FAQ

Filing Documents

• d824362d6k.htm (6-K) — 2629KB
• 0001193125-24-139987.txt ( ) — 2631KB

Business

Business 4 A. Business overview 4 B. Industry 5 C. New businesses 8 D. Customer-oriented marketing activities 8 3. Major Products and Raw Materials 8 A. Major products 8 B. Average selling price trend of major products 8 C. Major raw materials 9 4. Production and Equipment 10 A. Production capacity and output 10 B. Production performance and utilization ratio 10 C. Investment plan 10 5. Sales 11 A. Sales performance 11 B. Sales organization and sales route 11 C. Sales methods and sales terms 12 D. Sales strategy 12 E. Major customers 12 6. Purchase Orders 12 1 Table of Contents 7. Risk Management and Derivative Contracts 12 A. Risk management 12 B. Derivative contracts 13 8. Major Contracts 14 9. Research & Development 14 A. Summary of R&D-related expenditures 14 B. R&D achievements 15 10. Intellectual Property 16 11. Environmental and Safety Matters 16 A. Business environment management 16 B. Product environment management 17 C. Safety standards 19 D. Green management 19 E. Status of sanctions 19 12. Financial Information 19 A. Financial highlights (Based on consolidated K-IFRS) 19 B. Financial highlights (Based on separate K-IFRS) 20 C. Consolidated subsidiaries as of March 31, 2024 21 D. Status of equity investments as of March 31, 2024 21 13. Audit Information 23 A. Audit service 23 B. Non-audit service 23 14.

Managements Discussion and Analysis of Financial Condition

Managements Discussion and Analysis of Financial Condition and Results of Operations 23 15. Board of Directors 23 16. Information Regarding Shares 23 A. Total number of shares 23 B. Shareholder list 23 17. Directors and Employees 24 A. Directors 24 B. Employees 24 18. Other Matters 24 A.

Legal proceedings

Legal proceedings 24 B. Status of collateral pledged to related party 25 C. Material events subsequent to the reporting period 25 Attachment: 1. Financial Statements in accordance with K-IFRS 2 Table of Contents 1. Company A. Name and contact information The name of our company is EL-GI DISPLAY CHUSIK HOESA, which shall be LG Display Co., Ltd. in English. Our principal executive office is located at LG Twin Towers, 128 Yeoui-daero, Yeongdeungpo-gu, Seoul 07336, Republic of Korea, and our telephone number is +82-2-3777-1010. Our website address is http://www.lgdisplay.com . B. Credit rating This information is omitted in quarterly reports in accordance with Korean disclosure rules, and we plan to include such information in our semi-annual and annual reports. C. Capitalization (1) Change in capital stock (as of March 31, 2024) (Unit: Won, Shares) Date of Issuance Method of Issuance Details of the Shares Issued Type Number of Shares Par value per Share Offering price per Share Remarks March 15, 2024 Paid-in capital increase (share rights offering to existing shareholders) Common shares 142,184,300 W 5,000 W 9,090 Ratio of paid-in capital increase: 39.74% (2) Convertible bonds (as of March 31, 2024) We have no outstanding convertible bonds as of March 31, 2024. D. Voting rights (as of March 31, 2024) (Unit: share) Description Number of shares A. Total number of shares issued (1) : Common shares (1) 500,000,000 Preferred shares B. Shares without voting rights: Common shares Preferred shares C. Shares subject to restrictions on voting rights pursuant to our articles of incorporation: Common shares Preferred shares D. Shares subject to restrictions on voting rights pursuant to regulations: Common shares Preferred shares E. Shares with restored voting rights: Common shares Preferred shares Total number of issued shares with voting rights (=A B C D + E): Common shares

Business

Business A. Business overview We were incorporated in February 1985 under the laws of the Republic of Korea. LG Electronics and LG Semicon transferred their respective LCD business to us in 1998, and since then, our business has been focused on the research, development, manufacture and sale of products that apply display technologies such as OLED and TFT-LCD. Sorting by major sales product category, television, IT products, auto products (comprising automotive display products), and mobile and other products accounted for 21%, 41%, 10% and 28% of our total sales, respectively, in the first quarter of 2024. Our customers primarily consist of global set makers, and our top ten customers comprised 88% of our total sales revenue in the first quarter of 2024. As a company focused on exports, our overseas sales accounted for approximately 95% of our total sales in the first quarter of 2024. We provide close local support through our overseas sales subsidiaries located in the United States, Germany, Japan, Taiwan, China and Singapore. We operate key production facilities in Korea, China and Vietnam, and as of March 31, 2024, our cumulative production capacity in 2024 year-to-date was approximately 1.5 million glass sheets, as converted into eighth-generation sheets (2200x2500mm). In order to expand our production capacity of differentiated and competitive products such as OLED panels, our total capital expenditures on a cash out basis was around W 3.5 trillion in 2023. In 2024, we expect to reduce our capital expenditure compared to 2023 to approximately in the W 2 trillion range. 4 Table of Contents The major raw materials for display panel production include glass, semiconductors, polarizers, organic matter, backlight units (BLU) and printed circuit boards (PCB), and the prices of our raw materials may fluctuate as a result of supply and demand in the market as well as changes in our purchase quantity. The display industry to which we belong is highly affe

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View this 6-K filing on SEC EDGAR