LG Display Files August 2024 6-K Report

TL;DR

LG Display filed its August 6-K, standard reporting for investors.

AI Summary

LG Display Co., Ltd. filed a Form 6-K on August 14, 2024, reporting for the month of August 2024. 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 provides routine updates for investors and regulatory bodies regarding LG Display's ongoing operations and reporting status.

Risk Assessment

Risk Level: low — This is a routine filing that does not contain new material financial information or significant operational changes.

Key Players & Entities

• LG Display Co., Ltd. (company) — Registrant
• LG.Philips LCD Co., Ltd. (company) — Former company name
• August 14, 2024 (date) — Filing date
• Seoul, Republic of Korea (location) — Principal executive offices

FAQ

Filing Documents

• d868323d6k.htm (6-K) — 2924KB
• g868323g88m01.jpg (GRAPHIC) — 5KB
• 0001193125-24-200208.txt ( ) — 2933KB

Business

Business 7 A. Business overview 7 B. Industry 8 C. New businesses 10 D. Customer-oriented marketing activities 10 3. Major Products and Raw Materials 11 A. Major products 11 B. Average selling price trend of major products 11 C. Major raw materials 12 4. Production and Equipment 12 A. Production capacity and output 12 B. Production performance and utilization ratio 13 C. Investment plan 13 5. Sales 13 A. Sales performance 13 B. Sales organization and sales route 14 C. Sales methods and sales terms 14 D. Sales strategy 14 E. Major customers 15 1 Table of Contents 6. Purchase Orders 15 7. Risk Management and Derivative Contracts 15 A. Risk management 15 B. Derivative contracts 16 8. Major Contracts 17 9. Research & Development 17 A. Summary of R&D-related expenditures 17 B. R&D achievements 17 10. Intellectual Property 19 11. Environmental and Safety Matters 19 A. Business environment management 19 B. Product environment management 20 C. Safety standards 22 D. Green management 22 E. Status of sanctions 23 12. Financial Information 26 A. Financial highlights (Based on consolidated K-IFRS) 26 B. Financial highlights (Based on separate K-IFRS) 27 C. Consolidated subsidiaries as of June 30, 2024 28 D. Status of equity investments as of June 30, 2024 28 13. Audit Information 29 A. Audit service 29 B. Non-audit service 29 14.

Managements Discussion and Analysis of Financial Condition

Managements Discussion and Analysis of Financial Condition and Results of Operations 29 15. Board of Directors 30 A. Members of the board of directors 30 B. Committees of the board of directors 30 C. Independence of directors 31 16. Information Regarding Shares 31 A. Total number of shares 31 B. Shareholder list 31 17. Directors and Employees 32 A. Directors 32 B. Employees 35 C. Remuneration for executive officers (excluding directors) 35 18. Other Matters 35 A.

Legal proceedings

Legal proceedings 35 B. Status of collateral pledged to related party 36 C. Material events subsequent to the reporting period 36 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 (1) Corporate bonds (Domestic) Month of rating Credit rating (1) Rating agency (Rating range) Corporate bonds February 2022 A+ NICE Information Service Co., Ltd. (AAA ~ D) June 2022 March 2023 May 2023 A June 2024 February 2022 A+ Korea Investors Service, Inc. (AAA ~ D) June 2022 August 2022 January 2023 May 2023 A June 2024 June 2022 A+ Korea Ratings Corporation (AAA ~ D) March 2023 May 2023 A June 2024 (1) Domestic corporate bond credit ratings are generally defined to indicate the following: Credit rating Definition Corporate bonds AAA Strongest capacity for timely repayment. AA+/AA/AA- Very strong capacity for timely repayment. This capacity may, nevertheless, be slightly inferior than is the case for the highest rating category A+/A/A- Strong capacity for timely repayment. This capacity may, nevertheless, be more vulnerable to adverse changes in circumstances or in economic conditions than is the case for higher rating categories. BBB+/BBB/BBB- Capacity for timely repayment is adequate, but adverse changes in circumstances and in economic conditions are more likely to impair this capacity. BB+/BB/BB- Capacity for timely repayment is currently adequate, but that there are some speculative characteristics that make the repayme

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, mobile and other products, and auto products (comprising automotive display products) accounted for 23%, 42%, 26% and 9% of our total sales, respectively, in the first half 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 half of 2024. As a company focused on exports, our overseas sales accounted for approximately 96% of our total sales in the first half of 2024. We have 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 June 30, 2024, our cumulative production capacity in 2024 year-to-date was approximately 3.2 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. 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 affected by the global economic conditions. Given the characteristics of

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