UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2024

LG Display Co., Ltd.

(Translation of Registrant’s name into English)

LG Twin Towers, 128 Yeoui-daero, Yeongdeungpo-gu, Seoul 07336, Republic of Korea

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒   Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submission to furnish a report or other document that the registration foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ☐   No ☒

SEMI-ANNUAL REPORT

(From January 1, 2024 to June 30, 2024)

THIS IS A TRANSLATION OF THE SEMI-ANNUAL REPORT ORIGINALLY PREPARED IN KOREAN AND IS IN SUCH FORM AS REQUIRED BY THE KOREAN FINANCIAL SUPERVISORY COMMISSION.

IN THE TRANSLATION PROCESS, SOME PARTS OF THE REPORT WERE REFORMATTED, REARRANGED OR SUMMARIZED AND CERTAIN NUMBERS WERE ROUNDED FOR THE CONVENIENCE OF READERS. REFERENCES TO “Q1”, “Q2”, “Q3” AND “Q4” OF A FISCAL YEAR ARE REFERENCES TO THE THREE-MONTH PERIODS ENDED MARCH 31, JUNE 30, SEPTEMBER 30 AND DECEMBER 31, RESPECTIVELY, OF SUCH FISCAL YEAR. REFERENCES TO “H1” OF A FISCAL YEAR ARE REFERENCES TO THE SIX-MONTH PERIOD ENDED JUNE 30 OF SUCH FISCAL YEAR. REFERENCES TO “W” ARE REFERENCES TO THE KOREAN WON.

UNLESS EXPRESSLY STATED OTHERWISE, ALL INFORMATION CONTAINED HEREIN IS PRESENTED ON A CONSOLIDATED BASIS IN ACCORDANCE WITH KOREAN INTERNATIONAL FINANCIAL REPORTING STANDARDS, OR K-IFRS, WHICH DIFFER IN CERTAIN RESPECTS FROM GENERALLY ACCEPTED ACCOUNTING PRINCIPLES IN CERTAIN OTHER COUNTRIES, INCLUDING THE UNITED STATES. K-IFRS ALSO DIFFERS IN CERTAIN RESPECTS FROM THE INTERNATIONAL FINANCIAL REPORTING STANDARDS AS ISSUED BY THE INTERNATIONAL ACCOUNTING STANDARDS BOARD. WE HAVE MADE NO ATTEMPT TO IDENTIFY OR QUANTIFY THE IMPACT OF THESE DIFFERENCES IN THIS DOCUMENT.

Contents

1.	Company		3
	A.	Name and contact information	3
	B.	Credit rating	3
	C.	Capitalization	4
	D.	Voting rights	5
	E.	Dividends	5
	F.	Matters relating to Articles of Incorporation	6
2.	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

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.	Management’s 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	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

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)

Subject instrument	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:

Subject instrument	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 repayment uncertain over time.
	B+/B/B-	Lack of adequate capacity for repayment and speculative characteristics. Interest payment in time of unfavorable economic conditions is uncertain.
	CCC	Lack of capacity for even current repayment and high risk of default.
	CC	Greater uncertainties than higher ratings.
	C	High credit risk and lack of capacity for timely repayment.
	D	Insolvency.

3

(2) Commercial paper

Subject instrument	Month of rating	Credit rating(1)	Rating agency (Rating range)
Commercial paper	January 2023	A2+	Korea Investors Service, Inc. (A1 ~ D)
	January 2023	A2+	NICE Information Service Co., Ltd. (A1 ~ D)
	June 2023	A2	Korea Investors Service, Inc. (A1 ~ D)
	June 2023	A2	NICE Information Service Co., Ltd. (A1 ~ D)
	December 2023	A2	NICE Information Service Co., Ltd. (A1 ~ D)
	December 2023	A2	Korea Investors Service, Inc. (A1 ~ D)

(1) Domestic commercial paper credit ratings are generally defined to indicate the following:

Subject instrument	Credit rating		Definition
Commercial paper		A1	Timely repayment capability is at the highest level.
		A2	Strong capacity for timely repayment, though slightly inferior than is the case for the highest rating category.
		A3	Capacity for timely repayment is acknowledged, though it may be influenced by short-term changes in external factors.
		B	Capacity for timely repayment is uncertain, displaying a high degree of speculative characteristics.
		C	Capacity for timely repayment is questionable and there is a high risk of default.
		D	Insolvency.

ø A ‘+’ or ‘-’ modifier may be attached to ratings A2 through B to differentiate ratings within broader rating categories.

C. Capitalization

(1) Change in capital stock (as of June 30, 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	W5,000	W9,090	Ratio of paid-in capital increase: 39.74%

(2) Convertible bonds (as of June 30, 2024)

We have no outstanding convertible bonds as of June 30, 2024.

4

D. Voting rights (as of June 30, 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		500,000,000
	Preferred shares		—

(1) Authorized: 500,000,000 shares

E. Dividends

Dividends  for the three most recent fiscal years

Description (unit)		2024 H1			2023			2022
Par value (Won)			5,000			5,000			5,000
Profit (loss) for the year (million Won)(1)			(1,289,684	)		(2,733,742	)		(3,071,565	)
Earnings (loss) per share (Won)(2)(3)			(2,917	)		(7,177	)		(8,064	)
Total cash dividend amount for the period (million Won)			—			—			—
Total stock dividend amount for the period (million Won)			—			—			—
Cash dividend payout ratio (%)(4)			—			—			—
Cash dividend yield (%)(5)	Common shares		—			—			—
	Preferred shares		—			—			—
Stock dividend yield (%)	Common shares		—			—			—
	Preferred shares		—			—			—
Cash dividend per share (Won)	Common shares		—			—			—
	Preferred shares		—			—			—
Stock dividend per share (share)	Common shares		—			—			—
	Preferred shares		—			—			—

(1) Based on profit for the year attributable to the owners of the controlling company.

(2) Earnings per share is based on par value of W5,000 per share and is calculated by dividing net income by weighted average number of common shares.

(3) The number of outstanding common shares has increased due to our paid-in capital increase in the first quarter of 2024. The basic earnings (loss) per share and diluted earnings (loss) per share for the years ended December 31, 2023 and December 31, 2022 have been adjusted in consideration of the bonus element in a rights issue to our existing shareholders during the first quarter of 2024.

(4) Cash dividend payout ratio is the percentage that is derived by dividing total cash dividend by profit for the year attributable to the owners of the controlling company.

(5) Cash dividend yield is the percentage that is derived by dividing cash dividend by the arithmetic average of the daily closing prices of our common shares during the one-week period ending two trading days prior to the closing of the register of shareholders for the purpose of determining the shareholders entitled to receive annual dividends.

5

Historical dividend information

Number of consecutive years of dividends(1)		Average Dividend Yield(1)
Interim dividends	Annual dividends		Last 3 years	Last 5 years
—	—		0.94	0.56

(1) The average dividend yield is calculated using the simple arithmetic average method, including the fiscal years in which no dividend was paid (dividends were paid with respect to fiscal year 2021 only based on the dividend resolution date).

F. Matters relating to Articles of Incorporation

(1) Change in Articles of Incorporation

Our current articles of incorporation were amended as of March 22, 2024 at the 39th annual general meeting of shareholders.

Articles Amended

Description of Amendments

(1)   Revision of Paragraph 5 of Article 9-2 (Number and Characteristics of Preferred Shares) (2)   Deletion of Paragraph 6 of Article 10-2 (Stock Options) and re-numbering of previous Paragraph 7 to Paragraph 6 (3)   Revision of Article 11 (Record Date for Dividends on New Shares) (4)   Revision of Paragraphs 1 and 2 of Article 12 (Suspension of Alteration of Register of Shareholders and Record Date) (5)   Revision of Paragraph 5 of Article 15-2 (Issuance of Convertible Bonds) (6)   Deletion of Paragraph 5 of Article 15-3 (Issuance of Bonds with Warrants) (7)   Revision of Paragraph 2 of Article 36-2 (Composition of Audit Committee) and establishment of Paragraph 6 (8)   Revision of Paragraph 3 of Article 43 (Dividends) (9)   Deletion of Paragraph 4 of Article 43-2 (Interim Dividends) and re-numbering of previous Paragraph 6 to Paragraph 5

(1)   To reflect an amendment to the Commercial Act, which removed the previous requirement that the record date for dividends on new shares must be set as the last day of the preceding fiscal year (Commercial Act Article 350, Paragraph 3) (Articles 9-2, 10-2, 11, 15-2, 15-3, 43-2) (2)   To remove information regarding the closing of the shareholder registry (Article 12) pursuant to the implementation of the Act on Electronic Registration of Stocks, Bonds, Etc. (3)   To adjust the minimum number of members of the Audit Committee in order to flexibly respond to situations where a prompt appointment of an Audit Committee member is necessary (Article 36-2, Paragraph 2). (4)   To reflect the Ministry of Justice’s authoritative interpretation that, in order for a company to apply the relevant amendment to the Commercial Act that relaxes the quorum requirement when appointing a member of the Audit Committee through electronic voting, the articles of incorporation needs to have been amended beforehand (newly added Article 36-2, Paragraph 6).

6

(2) Business Purpose (as of June 30, 2024)

Our business purpose under our articles of incorporation did not change during the reporting period ended June 30, 2024, and our current business purpose includes the following:

(as of June 30, 2024)

No.	Business Purpose	Whether Currently Engaged in by the Company
1	Research, development, production, sales and marketing of display and related products utilizing, among others, thin-film transistor liquid crystal display (“TFT-LCD”), low-temperature polycrystalline silicone (“LTPS”)-LCD and organic light-emitting diode (“OLED”) technologies	Yes
2	Research, development, production, sales and marketing of products utilizing solar energy	No, see note (1)
3	Research, development, production, sales and marketing of parts and equipment necessary for the development and production of products and technologies listed in items 1 and 2 above	Yes
4	Sale and purchase and lease of real estate	Yes
5	Other ancillary or supplemental businesses and investments relating to each of the businesses described above	Yes

(1) Although the Company began to engage in research and development of products utilizing solar energy in 2007, due to the intense competition with Chinese companies in this sector and relative economic disadvantage of the Company’s technology, the Company decided to discontinue such business in 2010 and is currently not engaged in this business.

2. 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 W3.5 trillion in 2023. In 2024, we expect to reduce our capital expenditure compared to 2023 to approximately in the W2 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 the display business, which requires large-scale investments, display panel prices may fluctuate due to an imbalance between supply and demand, which may affect our profitability. The sales performance of industry players is differentiated by not only the production capacity of each company but also other competitive differences arising from factors including technology, cost structure, product development capability, manufacturing efficiency, quality control and customer relationships, along with the price differentiation incorporating such factors. In addition, given the high proportion of our sales overseas, our sales of display panels are denominated mainly in U.S. dollars whereas our purchases of raw materials are denominated mainly in U.S. dollars, Japanese Yen and Chinese Yuan. Accordingly, our profit margins may be affected by changes in the exchange rates between the currencies. We strive to minimize the risk relating to foreign currency denominated assets, liabilities and operating cash flow due to exchange rate fluctuations.

Our research and development expenses represent approximately 10% of our sales, and we are continually creating customer value through systematic R&D activities for new products and technologies. Leveraging our competitive R&D activities, we are leading the display market by providing differentiated values in display panel products utilizing our OLED and TFT-LCD technologies for various uses including television, IT, mobile products and automobiles.

7

Consolidated operating results highlights

(Unit: In billions of Won)

	2024 H1			2023			2022
Sales Revenue		11,961			21,331			26,152
Gross Profit		831			345			1,124
Operating Profit (loss)		(563	)		(2,510	)		(2,085	)
Total Assets		35,074			35,759			35,686
Total Liabilities		25,894			26,989			24,367

B. Industry

(1) Industry characteristics

• From the supply perspective, the display panel industry is technology- and capital-intensive in nature and requires mass production through achieving an economy of scale.

• From the demand perspective, the display panel industry tends to demonstrate a high level of volatility depending on the global macroeconomic conditions, major regional sales events and/or seasonal factors.

• Though the display panel industry is currently facing risks of decreased consumption of related goods in the business-to-consumer sector and reduced investor confidence in the business-to-business sector due to ongoing uncertainty in the global macroeconomic environment, there are continued opportunities in the display market to meet changes in consumer lifestyle and specific consumer needs in the mid- to long-term.

• In the market for television display panels, new opportunities from the growth of the ultra-large TV market are expected to arise with the increase of video content (including over-the-top services) and expanding uses of television (such as playing video games).

• In the market for traditional IT products such as notebook and desktop monitors, growth opportunities for new offerings such as gaming products and portable products are expected to increase driven by lifestyle changes.

• The growth in the market for smartphone products continues to be concentrated around high value-added products using plastic OLED display panels that offer superior performance through design flexibility, low-power consumption and high resolution, in light of the increased use of smartphones for mobile contents and gaming purposes.

• In the market for automotive display panels, display panels are increasingly being used in light of the expanded adoption of in-vehicle infotainment systems, and the market is continuing to demonstrate qualitative growth as the demand for larger and higher-resolution display panels continue to increase.

• As the market for LCD panel-based products has reached a maturity stage, the growing adoption of OLED panels across various segments, driven by their differentiated advantages, is expected to create new opportunities.

8

(2) Growth Potential

• The display panel industry is expected to continue to grow, as the essential role of display products as a key device for information and communication in daily lives of individuals as well as for industrial purposes becomes more pronounced. We are strengthening our business competitiveness based on customer value and developing new markets under our strategic plan to transition our business to center around OLED, which has a strong growth potential within the display panel industry. With respect to large-sized display panels, we are focusing on expanding the OLED market through differentiated products and technology, such as META technology, which offers high-resolution and high-luminance. We are also leading the expansion into new product areas, such as transparent OLED display panels and gaming display panels. In the medium-sized display panel business, we are increasing the proportion of premium products such as high resolution and wide screen products based on IPS and Oxide technologies, and we are also increasing the use of OLED panels in IT products to improve power consumption and provide differentiated form factors. In the small-sized display panel business, we have secured high value-added and differentiated technology and stable operating capabilities for 6th generation plastic OLED smartphone displays while continuing to grow our automotive display panels business by providing differentiated solutions such as plastic OLED, advanced thin OLED and LTPS LCD panels for ultra-large vehicle displays optimized for software-defined vehicles. We are also in the process of proactively preparing the technology to respond to new market opportunities for ultra-small-sized displays, including those in relation to augmented reality and virtual reality uses.

(3) Cyclicality

• The display panel business is characterized by being highly cyclical and sensitive to fluctuations in the general economy. The industry may experience volatility caused by imbalances between supply and demand due to changes in capital expenditure levels and adjustments in production utilization rates within the industry.

• Macroeconomic factors and other causes of business cycles can affect demand for display panels. Accordingly, if supply exceeds demand, average selling prices of display panels may decrease. Conversely, if market demand outpaces supply, average selling prices may increase.

(4) Market conditions

• Most display panel manufacturers are located in Asia as set forth below. Competition in the TFT-LCD sector is intensifying amid increasing levels of investment led by Chinese panel manufacturers. In response, Korean panel manufacturers are continuing their efforts to maintain their market leadership and differentiate themselves by transitioning their business focus to OLED products and upgrading their TFT-LCD businesses.

a. Korea: LG Display, Samsung Display, etc.

b. Taiwan: AU Optronics, Innolux, etc.

c. Japan: Japan Display, Sharp, etc.

d. China: BOE, CSOT, HKC, etc.

• Our worldwide market share of large-sized display panels (i.e., panels that are 9 inches or larger) based on revenue is as follows:

	2024 H1	2023	2022
Panels for Televisions(1)(2)	13.4%	12.5%	23.6%
Panels for IT Products(1)	22.1%	18.6%	18.8%
Total(1)	16.8%	14.6%	20.2%

(1) Source: Large Area Display Market Tracker (OMDIA). Data for 2024 H1 are based on OMDIA’s estimates, as actual results for 2024 Q2 have not yet been made available as of the date of this report.

(2) Includes panels for public displays.

9

(5) Competitiveness and competitive advantages

• Our ability to compete successfully depends on factors both within and outside our control, including the development of new and premium products through technological advances, timely investments that achieve profitability, maintaining flexible product portfolio and production facility operations responsive to market conditions, price of our products, competitive production costs, productivity enhancement, our relationship with customers, success in marketing to our end-brand customers, competitive environment and economic conditions within the industry, and foreign exchange rates.

• In order for us to compete effectively, it is critical to offer differentiated products that enable us to secure profit margins even during times of a mismatch in the market supply and demand, to be price- and cost-competitive and to maintain stable relationships with customers.

• A substantial portion of our sales is attributable to a limited number of end-brand customers and their designated system integrators. As such, it is important to build a sustained relationship with such customers.

• Developing new products and technologies that can be differentiated from those of our competitors is critical to the success of our business. It is important that we take active measures to protect our intellectual property internationally. It is also necessary to recruit and retain experienced key managerial personnel and skilled line operators.

• As a leading technology innovator in the display industry, we continue to focus on delivering differentiated value to our customers by developing various technologies and products, including display panels with WOLED/POLED, IPS, Oxide, in-TOUCH and other technologies. With respect to OLED panels, following our supply of the world’s first 55-inch OLED panels for televisions in 2013, we have continued to achieve ongoing technological innovation by continuing to enhance the performance of our products and to offer differentiated large-sized OLED products such as our large-sized gaming OLED products and those incorporating our META technology. Moreover, we have continually introduced and expanded our high value-added plastic OLED products for smartphones, smartwatches, automotive products and foldable notebook computers, among others. With respect to TFT-LCD panels, we are leading the market with our competitive advantages in technology, including through our IPS, Oxide and LTPS technology-based ultra-large television panels, desktop and notebook monitors featuring high resolutions, differentiated designs and high frequency refresh rates, and specialized products for automotive, commercial and medical uses. Our production facilities are also equipped to produce products incorporating in-TOUCH technology.

• Moreover, we are maintaining and strengthening close long-term partnerships with major global firms to secure customers and expand relationships for technology development.

C. New businesses

For our continued growth, we are actively exploring and preparing for new business opportunities in response to the changing market environment. As such, we are continually reviewing and looking at opportunities in the display and promising new industries.

D. Customer-oriented marketing activities

Through engaging in detailed analysis and acquiring insight on the market and industry conditions, technology, products and end-user consumers, we seek to provide differentiated values that are customer- and consumer-friendly. In addition, we engage in activities that are geared to proactively identify and offer meaningful benefits to customers and consumers. As a result, we are continually developing products that provide differentiated values using our technologies. At the same time, we strive to create new markets and mutually benefit our business and our customers by obtaining customer trust and satisfaction through our customer- and consumer-oriented marketing activities.

10

3. Major Products and Raw Materials

A. Major products

We manufacture OLED and TFT-LCD panels, of which a significant majority is sold overseas.

(Unit: In billions of Won, except percentages)

						2024 H1
Business area	Sales type		Items (By product)	Usage	Major trademark	Sales Revenue		Percentages (%)
Display		Goods/Products/Services/ Other sales	Televisions	Panels for televisions	LG Display		2,711		22.7	%
			IT products	Panels for monitors, notebook computers and tablets	LG Display		5,059		42.3	%
			Mobile, etc.	Panels for smartphones, smartwatches, etc.	LG Display		3,083		25.7	%
			Auto products	Panels for automobiles	LG Display		1,108		9.3	%
Total							11,961		100.0	%

B. Average selling price trend of major products

The average selling prices of display panels are subject to change based on market conditions and demand by product category. The average selling price of display panels per square meter of net display area shipped in the second quarter of 2024 was USD 779, which remained at a similar level to the first quarter of 2024. The average selling prices of display panels per square meter of net display area may continually fluctuate in the future due to changes in market conditions and our product mix.

(Unit: US$ / m²)

Period	Average Selling Price(1)(2) (in US$ / m2)
2024 Q2	779
2024 Q1	782
2023 Q4	1,064
2023 Q3	804
2023 Q2	803
2023 Q1	850
2022 Q4	708
2022 Q3	675
2022 Q2	566
2022 Q1	660

(1) Quarterly average selling price per square meter of net display area shipped.

(2) Excludes semi-finished products in the cell process.

11

C. Major raw materials

Prices of major raw materials depend on fluctuations in supply and demand in the market as well as on changes in size and quantity of raw materials due to the increased production of large-sized panels.

(Unit: In billions of Won, except percentages)

Business area	Purchase type	Items	Usage	Cost(1)		Ratio (%)		Suppliers(2)
Display	Raw materials	PCB	Display panel manufacturing		670		11.8%	Youngpoong Electronics Co., Ltd., etc.
		Polarizers			903		15.9%	LG Chem, etc.
		BLU			580		10.2%	Heesung Electronics LTD., etc.
		Glass			293		5.2%	Paju Electric Glass Co., Ltd., etc.
		Drive IC			256		4.5%	LX Semicon, etc.
		Others			2,969		52.4%	—
Total					5,671		100.0%

- Period: January 1, 2024 ~ June 30, 2024.

(1) Based on total cost for purchase of raw materials which includes manufacturing and development costs, etc.

(2) Among our major suppliers, Paju Electric Glass Co., Ltd. is our affiliate, LG Chem is a member company of the LG Group and LX Semicon is an affiliate of LX Holdings Corp.

• The market prices of main raw materials for display panels fluctuate depending on the global market conditions of raw materials and demand by product segment.

• The market price of polarizers, which is a main raw material for display panels, decreased by 5% as of June 30, 2024 compared to the end of the previous year.

• The market prices of PCB, drive IC and BLU, decreased by 3%, 5% and 4%, respectively, as of June 30, 2024, compared to the end of the previous year.

• Despite the continued global economic slowdown in 2024, our raw material costs have slightly improved compared to the previous year due to an improvement in the balance of market supply and demand in the raw materials market and our efforts to strengthen our raw material cost competitiveness. The prices of raw materials may continue to fluctuate in light of changes in the market conditions of such materials.

4. Production and Equipment

A. Production capacity and output

(1) Production capacity

The table below sets forth the production capacity of our Gumi, Paju and Guangzhou facilities in the periods indicated.

(Unit: 1,000 glass sheets)

Business area	Items	Location of facilities	2024 H1(1)	2023(1)	2022(1)
Display	Display panel, etc.	Gumi, Paju, Guangzhou	3,154	5,223	8,794

(1) Calculated based on the maximum monthly input capacity (based on glass input substrate size for eighth-generation glass sheets) during the year multiplied by the number of months in a given period. The production capacity for facilities with adjusted utilization rates have been calculated based on the maximum input capacity during the period.

12

(2) Production output

The table below sets forth the production output of our Gumi, Paju and Guangzhou facilities in the periods indicated.

(Unit: 1,000 glass sheets)

Business area	Items	Location of facilities	2024 H1(1)	2023(1)	2022(1)
Display	Display panel, etc.	Gumi, Paju, Guangzhou	2,898	4,256	6,390

(1) Based on the production results (input standard) of each plant converted into eighth-generation glass sheets.

B. Production performance and utilization ratio

(Unit: Hours, except percentages)

Production facilities	Available working hours in 2024 H1	Actual working hours in 2024 H1	Average utilization ratio
Gumi	4,368(1) (24 hours x 182 days)	4,368(1) (24 hours x 182 days)		100.0	%
Paju	4,368(1) (24 hours x 182 days)	4,368(1) (24 hours x 182 days)		100.0	%
Guangzhou	4,368(1) (24 hours x 182 days)	4,368(1) (24 hours x 182 days)		100.0	%

(1) Number of days is calculated by averaging the number of working days for each facility.

C. Investment plan

In 2023, our total capital expenditures on a cash out basis was around W3.5 trillion. In 2024, we expect to reduce our capital expenditures compared to 2023 to approximately in the W2 trillion range.

5. Sales

A. Sales performance

(Unit: In billions of Won)

Business area	Sales types	Items (Market)		2024 H1		2023		2022(2)
Display	Products	Display panel	Overseas(1)		11,397		20,634		25,651
			Korea(1)		512		620		668
			Total		11,909		21,254		26,319
	Royalty	LCD, OLED technology patent	Overseas(1)		14		16		12
			Korea(1)		0		0		0
			Total		14		16		12
	Others	Raw materials, components, etc.	Overseas(1)		31		46		24
			Korea(1)		7		14		10
			Total		38		60		34
	Total		Overseas(1)		11,442		20,696		25,687
			Korea(1)		519		634		678
			Total		11,961		21,330		26,365

(1) Based on ship-to-party.

(2) Sales excluding forward exchange hedging loss of W213 billion for currency risk management of expected export transactions, which has been reclassified to revenue.

13

B. Sales organization and sales route

• As of June 30, 2024, each of our television, IT, mobile and auto product businesses had individual sales and customer support functions.

• Sales subsidiaries in the United States, Germany, Japan, Taiwan, China and Singapore perform sales activities and provide local technical support to customers.

• Sales of our products take place through one of the following two routes:

1) LG Display Headquarters and overseas manufacturing subsidiaries g Overseas sales subsidiaries (USA/Germany/Japan/Taiwan/China/Singapore), etc. g System integrators and end-brand customers g End users

2) LG Display Headquarters and overseas manufacturing subsidiaries g System integrators and end-brand customers g End users

• Sales performance by sales route

Sales performance	Sales route(1)	Ratio
Overseas	Overseas subsidiaries		97.7	%
	Headquarters		2.3	%
Overseas sales portion (overseas sales / total sales)			95.7	%
Korea	Overseas subsidiaries		33.3	%
	Headquarters		66.7	%
Korea sales portion (Korea sales / total sales)			4.3	%

(1) Percentage by sales route is based on revenue from the Display business segment.

C. Sales methods and sales terms

• Direct sales and sales through overseas subsidiaries, etc. Sales terms are subject to change depending on the fluctuation in the supply and demand.

D. Sales strategy

• With respect to television display products, we are strengthening our competitive advantages in the premium television display market by enhancing the performance and advancing the technology of our OLED television display panels and working towards strengthening our business portfolio and reinforcing consumer values through new growth businesses such as gaming and transparent products.

• With respect to IT display products, we are continually strengthening the sales of high-resolution, IPS, narrow bezel and other high-end display panels with major global IT product manufacturers as our primary customer base.

• With respect to mobile and other products (a wide range of products including smartphones, smartwatches and industrial products (including aviation and medical equipment, among others)), we are continuing to build a strong and diversified business portfolio and expand our global customer base by leveraging the strength of our differentiated technology and products such as OLED, narrow bezel, low-power consumption and thin and light features.

• With respect to automotive display products, our business continues to grow steadily as we pursue a stable order-based business with global automobile manufacturers. By leveraging our diversified technology and product portfolio, including plastic OLED, advanced thin OLED and LTPS LCD panels, we are strengthening our competitiveness and securing sustained growth.

14

E. Major customers

• Customers “A” and “B” each accounted for more than 10% of our sales revenue in the first half of 2024 and 2023. Our sales revenue derived from our top ten customers comprised 88% of our total sales revenue in each of the first half of 2024 and 87% in the first half of 2023.

6. Purchase Orders

• We supply some of our products in accordance with the production plans of automobile manufacturers. However, the volume of our supply is subject to fluctuation depending on the customers’ actual order volume and future market conditions, and it is not possible to accurately predict the changes in demand resulting from changes in the domestic and global economic environment. Moreover, as of June 30, 2024, we do not have purchase order contracts that recognize revenue by measuring progress towards satisfaction of performance obligation by using the cost-based input method.

7. Risk Management and Derivative Contracts

A. Risk management

(1) Major market risks

Our business is exposed to credit risk, liquidity risk and market risk. Accordingly, we operate a risk management system that identifies and analyzes these risks while monitoring and managing risk level by establishing appropriate risk controls in order to ensure that such risks do not exceed certain threshold levels.

Market risk refers to the risk that income from the financial instruments that we hold or the fair value of such financial instruments will fluctuate due to fluctuations in market prices, such as exchange rates, interest rates and prices of equity securities. The objective of our market risk management system is to manage and control our exposure to market risk within an acceptable level while optimizing our profit levels.

(2) Risk management method

As the average selling prices of OLED and TFT-LCD panels can continue to decline over time irrespective of industry-wide cyclical fluctuations, we may find it hard to manage risks associated with certain factors that are outside our control. However, we counteract such declines in average selling prices by increasing the proportion of high value added panels in our product mix while also implementing various cost reduction measures.

In addition, in order to manage our risk against foreign currency fluctuations, we eliminate such risk by adopting a policy of maintaining our net exposure risk within an acceptable level by buying or selling foreign currencies at spot rates, when necessary, to address short-term imbalances in the inflow and outflow of foreign currency funds. We also continually monitor our currency position and risk for other monetary assets and liabilities denominated in foreign currencies, and when needed, we may from time to time enter into cross-currency interest rate swap contracts and foreign currency forward contracts. Furthermore, we have adopted a policy aimed at minimizing uncertainty and financial costs arising from interest rate fluctuations and manage our interest rate risk through periodic monitoring of interest rate trends and adoption of appropriate countermeasures.

15

B. Derivative contracts

(1) Currency risks

• We are exposed to currency risks on sales, purchases and borrowings that are denominated in currencies other than in Won, our functional currency. These currencies are primarily the U.S. dollar, the Chinese Yuan and the Japanese Yen.

• Interest on borrowings is denominated in the currency of the borrowing. Generally, borrowings are denominated in currencies that match the cash flows generated by our underlying operations, primarily in Won, the U.S. dollar and the Chinese Yuan.

• As of the end of the reporting period, in order to avoid risks of exchange rate fluctuations on the fair value of advance received, we entered into long position currency forward contracts of US$1,050 million with Standard Chartered Bank and others. As of the end of the reporting period, among the valuation gains and losses of derivatives to which fair value hedge accounting is applied, there is no ineffective portion, and we recognized a valuation gain of W110 billion (purchase commitment: USD 1,050 million, contract exchange rate: W1,289.1~1,310.1) as part of our foreign currency translation gains and losses. With regard to fair value hedging, the maximum expected period of exposure to fair value fluctuation risk from hedged transactions is within 19 months from the end of the reporting period.

• As of the end of the reporting period, in order to avoid risks of interest rate fluctuations and exchange rate fluctuations on foreign currency denominated borrowings with floating interest rates, we entered into an aggregate of USD 1,605 million and CNY 726 million cross currency interest swap agreements with KB Kookmin Bank and others, for which we have not applied hedge accounting. Any rights or obligations arising from derivative contracts that do not apply hedge accounting are measured at fair value and are accounted for as assets and liabilities, whereas any resulting valuation gain or loss is recognized as profit or loss at the time such valuation gain or loss is incurred. We recognized a gain on valuation of derivative instruments in the amount of W61 billion with respect to the above foreign exchange derivative instruments held during the reporting period.

(2) Interest rate risks

• Our exposure to interest rate risks relates primarily to our floating rate long term loan obligations. We have established and are managing interest rate risk policies to minimize uncertainty and costs associated with interest rate fluctuations by monitoring cyclical interest rate fluctuations and enacting countermeasures.

• As of the end of the reporting period, we entered into an aggregate of W960 billion in interest rate swap agreements with Shinhan Bank and others, for which we have not applied hedge accounting. We recognized a gain on valuation of derivative instruments in the amount of W4 billion and a loss on valuation of derivative instruments in the amount of W2 billion with respect to our interest rate derivative instruments held during the reporting period.

16

8. Major Contracts

Our material contracts, other than contracts entered into in the ordinary course of business, are set forth below:

Type of agreement	Name of party	Term	Content
Technology licensing/supply agreement	Hewlett-Packard	January 2011 ~	Patent licensing of semi-conductor device technology
	Ignis Innovation, Inc.	July 2016 ~	Patent licensing of OLED related technology
	HannStar Display Corporation	December 2013 ~	Patent cross-licensing of LCD technology
	AU Optronics Corporation	August 2011~	Patent cross-licensing of LCD technology
	Innolux Corporation	July 2012 ~	Patent cross-licensing of LCD technology
	Universal Display Corporation	January 2015 ~ December 2025	Patent licensing of OLED related technology
	Semiconductor Energy Laboratory	January 2021 ~ December 2030	Patent licensing of LCD and OLED related technology

9. Research & Development (“R&D”)

A. Summary of R&D-related expenditures

(Unit: In millions of Won, except percentages)

Items		2024 H1			2023			2022
R&D Expenditures (prior to deducting governmental subsidies)			1,253,308			2,399,513			2,431,590
Governmental Subsidies			(370	)		(718	)		(1,008	)
Net R&D-Related Expenditures			1,252,938			2,398,795			2,430,582
Accounting Treatment(1)	R&D Expenses		896,570			1,906,616			1,927,828
	Development Cost (Intangible Assets)		356,368			492,179			502,754
R&D-Related Expenditures / Revenue Ratio(2) (Total R&D-Related Expenditures ÷ Revenue for the period × 100)			10.5	%		11.2	%		9.3	%

(1) For accounting treatment purposes, R&D expenses are presented as research and development expenses in our statements of comprehensive income, net of amortization of capitalized intangible asset development costs.

(2) Calculated based on the R&D-related expenditures before subtracting government subsidies (state subsidies).

B. R&D achievements

Achievements in 2022

(1) Developed the world’s first 16:18 aspect ratio monitor product (27.6” SDQHD)

• Developed a 27.6” (21.5”, 21.5”, vertical arrangement) monitor product, which is optimized for multi-tasking amid the increase in working remotely as a result of the COVID-19 pandemic

• Created a new market through the development of a new aspect ratio (16:18, 2560x2880) product

(2) Developed our first three-sided “Borderless” notebook panel product (13.4” WU XPS)

• Led the high-end market by adopting a new, three-sided borderless design applying low power consumption variable refresh rate technology

17

(3) Developed the world’s first 97” OLED TV product

• Developed a product that outperforms competitors’ products both in display quality and in size in the high-end market

• Strengthened the global trend towards OLED dominance by expanding our extra-large OLED TV product lineup and secured related original technology

(4) Developed the world’s first Curved 1,900R Black monitor product (34”)

• Developed the world’s first IPS Black Curved monitor product (contrast ratio 2000:1) by utilizing nega-LC material

• Led the high-end Curved product market

(5) Developed our first 12.3” cluster product utilizing VDA 3D technology

• Utilizing VDA (Viewing Distance Adaption) technology, developed a 12.3” cluster product that applies glassless 3D technology and changes the user’s viewing distance while driving

(6) Developed the world’s first 12.3” cluster product utilizing DLC technology

• Utilizing DLC (Double LGP Control) technology, developed a 12.3” cluster product which display is, when positioned in the passenger seat, visually recognizable from the passenger seat but not from the driver’s seat.

(7) Developed the world’s first META technology-applied product (gaming products: 27”, 45”; and television products: 4K 77/65/55”, 8K 77”)

• Utilizing the development of META OLED technology, entered the gaming monitor market and strengthened flagship leadership in the premium TV market

1) Gaming product (27”, 45”): Secured high PPI luminance performance based on the META technology and provided a display optimized for gaming through high-speed (240 Hz), fast response time (0.03ms) and curved technology

2) Large television (4K/8K): Developed product with world’s best picture quality (luminance/viewing angle) based on META technology

(8) Developed the world’s first IPS Gaming FHD 480Hz monitor product (24.5”)

• Applied high-performance Oxide-TFT BCE-4 cell to 480Hz FHD screens

• Received the 2023 CES Award in Best Innovation / Gaming / Computer Accessory category

Achievements in 2023

(1) Developed the world’s first small- and medium-sized transparent WOLED product (30” HD)

• Expanded market coverage with the development of a new product size (30”) for transparent small- and medium-sized display

• Strengthened market leadership through achieving a transparency rate of 45% and increased luminance (600/200 nit)

(2) Introduced the world’s first foldable pen touch notebook (17”)

• Developed OLED panel for notebooks utilizing differentiated technologies such as the tandem OLED and a special folding structure

(3) Developed the world’s first Gaming OLED 240Hz monitor product (39”, 34”)

• Applied high-speed (240Hz), fast response time (0.03ms), high-luminance (275 nit @APL 100%) and curved (800R) OLED technology

• Provided ultra-wide (21:9 aspect ratio) full-size OLED Gaming monitor product (initially provided in 45” and expanded further to provide 39” and 34” products)

18

Achievements in 2024

(1) Developed the world’s first Gaming DFR product (31.5”)

• Optimized display through applying DFR (Dynamic Frequency & Resolution) technology, which enables the implementation of high resolution (UHD 240Hz) and high refresh rate (FHD 480 Hz) on a single display panel

• Maximized sound effects by applying d-TAS (Display Thin Accurator)

(2) Developed the world’s first Gaming OLED QHD 480Hz monitor product (27”)

• Provided optimal gaming environment with the development of the world’s first OLED QHD 480Hz high refresh rate monitor product

(3) Developed our first ATO-based notebook panel (13.4”)

• Developed Slim & Light product (1.16t / 162g) through the application of ATO (Advanced Thin OLED) structure

• Developed high-efficiency OLED notebook panel product (SDR 400nit / HDR 500nit) utilizing Tandem OLED technology

• Became our first notebook panel model to apply Touch on Encap technology

(4) Developed our first Dual Resolution Gaming monitor product (27”)

• Expanded the gaming monitor market and provided differentiated user experience by implementing the Dual Resolution feature

• Enabled the use of a single monitor for both fast-paced (FHD 330Hz) games and high-resolution (UHD 165Hz) games

* Dual Resolution : UHD 165Hz « FHD 330Hz

10. Intellectual Property

As of June 30, 2024, our cumulative patent portfolio (including patents that have already expired) included 28,884 patents in Korea and 35,361 patents in other countries. In the first half of 2024, we registered 1,107 patents in Korea and 1,488 patents in other countries.

11. Environmental and Safety Matters

In order to minimize the environmental impact of our business activities, we are actively responding to environmental regulations applicable to our products and business sites.

A. Business environment management

We have installed and operate various types of prevention facilities to minimize the emission of environmental pollutants generated in our production process. With respect to air and water pollutants, we set and manage our internal standard at 70% of the permitted levels under the regulatory emission standards. In addition, in order to establish a resource circulation system, we operate a proprietary system to monitor waste from its generation to treatment, have developed waste treatment technology and identified suitable recycling companies to reduce the amount of waste we generate and maximize recycling.

In addition, as we were designated a target company for the greenhouse gas emission trading system in 2015, we allocate and monitor our greenhouse gas emissions every year. In order to continually promote the reduction of greenhouse gas emissions, we have set a medium- to long-term goal to reduce the emission level by continually investing in facility improvements and monitoring our emission levels.

We are subject to a variety of environmental laws and regulations, and operations at our manufacturing plants are subject to regulation and periodic scheduled and unscheduled on-site inspections by the Ministry of Environment and local environmental protection authorities. The primary types of environmental laws applicable to us include the following:

(1) Environmental pollutant emission regulations: Integrated Control of Pollutant-discharging Facilities Act, Clean Air Conservation Act, Water Quality Conservation Act, Wastes Control Act, Environmental Impact Assessment Act, etc.

(2) Greenhouse gas emission management: Framework Act on Carbon Neutral and Green Growth to Respond to Climate Crisis, Act on the Allocation and Trading of Greenhouse Gas Emission Permits, etc.

(3) Other workplace environment management: Chemicals Control Act, Chemicals Registration and Evaluation Act, Soil Environment Conservation Act, etc.

19

Through the implementation of an environmental and energy management system, we are continuously making efforts to minimize environmental impact and reduce energy usage in all aspects of our business process. Accordingly, we have acquired and currently operate the environmental management system ISO14001 and energy management system ISO 50001 certifications for all of our domestic and overseas production sites. In addition, we have established company-wide safety, healthy, energy and environment management policies and manuals, which are regularly updated based on international standards. We also conduct systematic management of our business process in accordance with international standards through annual follow-up and renewal audits.

In recognition of our efforts, we were awarded the highest level, Leadership A, and received the grand prize award at the CDP Water Korea Best Awards in 2016 from the Carbon Disclosure Project, which was presided over by the Carbon Disclosure Project Korea Committee. Since then, we have continued to maintain our excellence in water conservation activities and received Leadership A recognition from 2018 to 2022. In addition, we have also received the Carbon Management Honors Club award from 2017 to 2020 and the Carbon Management Sector Honors from 2016 to 2022 in recognition of our continued greenhouse gas emission reduction activities.

In addition, in recognition of our efforts toward recycling rate improvement and waste reduction, we were nominated as a leading company with an excellent performance in resource circulation and received a commendation from the Minister of Environment in 2020. Our overseas subsidiary in Yantai earned Platinum Zero Waste to Landfill (“ZWTL”) validation in 2021, all of our domestic production facilities earned Gold ZWTL validation (above 95% recycling rate), our overseas subsidiary in Nanjing earned Platinum validation in 2022, and our Paju plant earned Platinum validation in June 2024. In 2022, we introduced a resource recirculation recognition program in accordance with the Korean government’s waste management policy and received circular resource certification on eight types of our discarded trays and vinyl. In 2023, we have obtained quality certification for certain of our recycled items recognized as circular resources, and we plan to continue to promote the resource circulation of our products. We will continue our efforts to reinforce our resource circulation program by minimizing waste and maximizing recycling rate.

We have continued to pursue ESG management activities based on the spirit of “value creation for consumers” and “human-first management,” and we plan to obtain further recognition for our eco-friendly management and share relevant information with the stakeholders.

B. Product environment management

In order to respond to applicable domestic and overseas environmental regulations, such as the European Union’s Restriction of Hazardous Substances (RoHS) and Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) that restrict the use of certain hazardous substances, we operate a hazardous substance management program that implements a four-step procedure (each such step, a “Gate”) that manages various stages of our production cycle, beginning with the registration process of our business partners up to the mass production stage. In addition, in order to preemptively address four types of phthalate substances that became additionally regulated pursuant to the RoHS in 2016 and officially went into effect on July 22, 2019, we replaced the latent risk elements in advance as well as implemented a more stable management process with respect to such substances. In implementing this process, we collaborated with external agencies to ascertain regulatory trends and establish our response strategy, and we formulated and applied effective management measures through the collaborative efforts of our development, procurement, quality assurance and analysis teams.

- Gate 01 (Business Partner Stage): An audit is conducted prior to the registration of a new business partner (including the inspection of the business partner’s hazardous substance response process)

20

- Gate 02 (Parts Development Stage): An environmental evaluation of each part under development is conducted (consisting of three stages: (1) document review; (2) XRF test and (3) precision analysis)

- Gate 03 (Product Development Stage): An environmental evaluation of the product model and product labeling are conducted (including RoHS verification)

- Gate 04 (Mass Production Stage): Process management through the periodic testing of mass-produced parts for any hazardous substances (including rate-based tests based on risk assessment)

We operate a “Hazardous Substance Management System for Products” that effectively manages hazardous substances by classifying them into four levels: A-I, A-II, B-I, and B-II. In particular, in addition to substances prohibited by global hazardous substance regulations on products, we have designated substances causing harm to the human body and the environment as Level B substances. By developing alternative technologies and parts and applying them to our products, we continually strive to achieve a gradual reduction and elimination of non-prohibited hazardous substances.

- Level A-I (Prohibited Substances): Prohibited substances designated under the RoHS regulations (i.e., 10 regulated substances) and those designated by specific customers

- Level A-II (Prohibited Substances): Substances prohibited by regulations and conventions other than those covered under Level A-1 and those designated as such by customers

- Level B-I (Substances Subject to Voluntary Reduction): Substances that are being voluntarily replaced over a certain period of time

- Level B-II (Substances Under Observation): Substances that are not currently banned, but are expected to become prohibited in the future

Moreover, we participated in reforming IEC 62321, an international testing standard published by the International Electrotechnical Commission and used by RoHS, and the commission adopted our halogen-free combustion ion chromatography method in as IEC 62321-3-2, which was published in June 2013.

In 2017, we became the first display panel company to receive the SGS Eco Label accreditation for OLED television display modules from SGS, a global product testing/accreditation agency, and have since continually received such accreditation. In 2024, such accreditation has been updated to “SGS EEPS accreditation.” In 2022, we expanded our accreditation program to cover display modules for monitors, notebook computers, tablets and automobiles, as a result of which our display modules for monitors and notebook computers received SGS Eco Label accreditation for the first time and our automotive display module became the first in the industry to receive the same accreditation for its excellence in energy efficiency, and we have since maintained the SGS Eco Label for such products. In 2023, our high-end LCD panels for 16-inch notebooks and 27-inch monitors, in which we incorporated recycled materials for the first time, received the SGS Eco Label accreditation. In addition, our 30-inch and 55-inch transparent display products, for which we applied hazardous substance reduction technology, became the first in the industry to receive the SGS Eco Label accreditation. Moreover, in 2022, our 27-inch monitor display product that applied anti-bacterial films received the SGS Performance Mark accreditation for its anti-bacterial performance, and in 2023, our commercial display module that applied Plus-Bright energy consumption reduction technology obtained the SGS Performance Mark accreditation for its energy efficiency performance. Our high-end LCD panels for 16-inch notebooks and 27-inch monitors also received the same accreditation for reducing energy consumption through the implementation of proprietary algorithms and improving panel transmittance.

Also in 2022, upon assessment and verification of GHG emissions throughout its entire product life cycle, our OLED TV panel received the industry’s first Carbon Footprint Certification from The Carbon Trust, a not-for-profit company founded by the United Kingdom government that provides voluntary carbon certification services and carbon labeling schemes. In 2023, our high-end IT LCD panels (27-inch and smaller) received the Product Carbon Footprint (PCF) certification from TÜV Rheinland, a global independent testing, inspection and certification agency, by achieving carbon emission reduction through the application of recycled materials and low energy consumption technologies. Our OLED panels for automotive products also received the same certification for achieving carbon emission through the application of light-control film integration technology.

21

In 2021, we received the “Green Technology Certification” for our advanced incell touch display technology, an eco-friendly technology with touch-sensing electrodes and transmission lines that reduce carbon emissions and the use of rare metals. Also, since 2021, we have continued to obtain an eco-friendly certification from TUV SUD, a globally recognized accreditation agency, for excellence in resource circulation and non-use of specific hazardous substances in our OLED television display panels and PO mobile models.

In 2018, we became the first display panel company to receive the “Green Technology Certification” from the Korean Ministry of Science and ICT for improving the light efficiency technology of OLED to promote energy use reduction. In 2017, for the IPS Nano Color for LCD, we received the Quality & Performance Mark from Intertek, a global product testing/accreditation agency, by applying a technology to eliminate cadmium (Cd) and indium phosphide (InP).

C. Safety standards

Our products comply with the IEC 62638-1 global product safety standards, and we obtain CB and UL certifications on applicable products.

In order to promote the enhancement of safety for automobile manufacturers and consumers, we became the first display panel company in June 2016 to introduce a flame-resistant certification program for our display panels, which program includes flame resistance standards for automotive materials (including ISO 3795, DIN 75200 and FMVSS 302 standards) as well as for safety standards for information technology devices, which has been certified by TUV SUD. In 2022, we expanded the number of applicable flame resistance standards for such program from three to nine.

Furthermore, in 2021, we established infrastructure for flammability tests required under the United States Federal Aviation Administration’s FAR 25.853 standards and impact tests under RTCA DO-313 standards, and the reliability of these test results have been certified by TUV SUD.

D. Green management

Pursuant to the Framework Act on Carbon Neutral and Green Growth to Respond to Climate Crisis, the Korean government implemented a greenhouse gas emission and energy consumption target system from 2011 to 2014 and, since 2015, it has implemented a greenhouse gas trading system, under which we are responsible to meet our emission targets based on the emission credits allocated to us by the Ministry of Environment. As a result, we have been investing in additional equipment and there may be other costs associated with meeting reduction targets, which may have a negative effect on our profitability or production activities.

In connection with the greenhouse gas emission and energy reduction target system, we submitted a statement of our 2023 domestic emissions and energy usage to the Korean government in March 2024 after it was certified by DNV Business Assurance Korea, a government-designated certification agency. The table below sets forth yearly levels of our greenhouse gases emissions and energy usage in the statement submitted to the Korean government:

(Unit: thousand tons of CO₂ equivalent; Tetra Joules)

Category	2023		2022		2021
Greenhouse gases		3,492		3,842		4,784
Energy		55,119		60,589		60,927

Note: Our greenhouse gas emission and energy usage data have been confirmed upon assessment by the Ministry of Environment.

The decrease in greenhouse gas emissions in 2023 compared to 2022 was due to changes in production volume and the introduction of a reduction facility that decomposes fluorinated greenhouse gases used in our manufacturing process, resulting in an overall decrease in emission levels.

22

Since our designation as a target company for the greenhouse gas emission trading system in 2015, we have received greenhouse gas emission allowances from the government and at the same time submit our greenhouse gas emission calculations and specifications to the government every year. In order to continually promote the reduction of greenhouse gas emissions, we have set a mid-term goal to reduce the emission level from 2018 to 2030 by 53% and a medium- to long-term goal to achieve carbon neutrality by 2050. In order to reduce greenhouse gas emissions, we plan to develop high-efficiency process gas scrubbers and low-carbon alternative gas technologies, strengthen company-wide power-saving activities and accelerate the transition to renewable energy. In addition to internal reduction efforts, in order to achieve carbon neutrality by 2050, we plan to externally offset residual emissions that are difficult to reduce technically. In addition, through our ESG governance (including ESG committee/management meetings), we will regularly monitor and report our carbon-neutral implementation progress to strengthen our execution capabilities and continually upgrade our roadmap to achieve carbon neutrality by 2050.

In order to reduce fluorinated gases (F-Gas) used in the dry etching process in our manufacturing operations, we have invested approximately W51 billion since 2018 to install plasma equipment, which can reduce emissions of such gas by over 90%, on our manufacturing sites. As a result, in 2023, we were able to reduce greenhouse gas emissions caused by our manufacturing processes in Korea by 0.6 million tons. In addition, in line with the renewable energy utilization program in Korea, which was initiated in 2021, our domestic business sites are shifting to renewable energy through the green premium program, while our overseas business sites in China and Vietnam are shifting to renewable energy through Renewable Energy Certificate (REC) purchases. In 2023, we converted 1,159 GWh of electricity (approximately 15% of our total electricity) to renewable energy. In addition, to promote effective energy reduction, we have established a dedicated organization focused on energy conservation. By adopting various initiatives such as utilizing waste heat from Clean Dry Air (CDA) compressors to manufacture cold water and improve refrigerator efficiency, we saved 809 GWh of electricity in 2023, resulting in the reduction of greenhouse gas emissions by 0.4 million tons.

E. Status of sanctions

Date	Sanctioning Authority	Classification of Sanctioning Authority	Target	Description and Relevant Laws	Sanctions Imposed	Implementation Status
April 4, 2022	Han River Basin Environmental Office	Administrative Agency	Company	-   Failure to file a subcontract report pertaining to the handling of hazardous chemical materials -   Provision 1 of Article 31 of the Chemical Control Act and other applicable law	Fine of W2.4 million	-   Paid fine -   Established procedures for the management of subcontract reporting
April 13, 2022	Goyang Branch of Ministry of Employment and Labor	Administrative Agency	Company	-   Delay in reporting a safety incident dated February 12, 2022 -   Provision 3 of Article 57 of the Occupational Safety and Health Act and other applicable law	Fine of W5.6 million	-   Paid fine -   Provided a company-wide notice and training regarding standards for immediate reporting of incidents. -   Took personnel actions relating to relevant employees
May 16, 2022	Goyang Branch of Uijeongbu District Court	Court	Company and one officer (former Executive Director and former On-site Safety Manager)	-   Deficiencies spotted during a regular inspection of facility (from March 29 to April 2, 2021) following industrial accident at the site -   Article 173-2, Article 168-1, Provision 1 or 3 of Article 38, and Provision 1 of Article 39 of the Occupational Safety and Health Act	Fine of W5 million to each of Company and officer	-   Paid fine -   Strengthened safety management standards and training program

23

December 15, 2022	Ministry of Environment	Administrative Agency	Company	-   Failure to timely submit a notice of reason for cancelling the allocation of emission rights by December 15, 2022 -   Provision 2 of Article 17 of the Act on the Allocation and Trading of Greenhouse-gas Emission Permits	Fine of W1.6 million	-   Paid fine -   Shutdown the production site and regular monitoring of changes in emission (once per month)
January 19, 2023	Goyang Branch of Uijeongbu District Court	Court	Company	-   Safety incident on January 13, 2021 (fine announced on January 11, 2023, ruling confirmed on January 19, 2023)	Fine of W20 million	-   Paid fine -   Strengthened safety management standards and training program
November 13, 2023	Southern Seoul Branch of Ministry of Employment and Labor	Administrative Agency	Company	-   Non-payment of overtime pay -   Provision 1 of Article 43 and Article 36 of the Labor Standards Act	—	-   Implemented corrective orders, which were completed on November 27, 2023
December 16, 2023	Uijeongbu District Court	Court	Employee (Facility plant manager, Incumbent, 30 years of service)	-   Safety incident on January 13, 2021 (fine announced on December 8, 2023, ruling confirmed on December 16, 2023)	Fine of W5 million	-   Paid fine

24

March 22, 2024 Supreme Court Court Two employees (former Team leader and former Manager) -   Safety incident on January 13, 2021 (final appeal dismissed on March 15, 2024, ruling confirmed by the Appellate Court on March 22, 2024) Final appeal dismissed (1 year of imprisonment subject to two years of probation for both the Team leader and Manager) —   

In January 2021, an incident involving a leakage of tetramethylammonium hydroxide chemicals occurred during refurbishment of equipment at one of our plants in Paju, causing bodily harm to workers. In December 2021, we and certain of our employees were prosecuted for violating the Occupational Safety and Health Act and the Chemicals Control Act. In January 2023, the Goyang Branch of the Uijeongbu District Court ordered a fine of W20 million. The prosecution filed an appeal with respect to several of the prosecuted employees, which was dismissed by the Seoul Appellate Court on December 8, 2023. In addition, the judgment against the remaining defendants, including one of our employees but excluding two of our employees who filed a final appeal with the Supreme Court, was confirmed on December 16, 2023. The final appeals of the two employees were dismissed on March 15, 2024, and the Appellate Court’s ruling was confirmed on March 22, 2024. In order to prevent recurrence, we are exerting continual efforts to treat safety as a top priority management objective, including by strengthening our safety management standards and employee training efforts.

In April 2022, the Han River Basin Environmental Office ordered a fine of W2.4 million on us for a violation of Provision 1 of Article 31 of the Chemical Control Act and other applicable law. We paid the fine and established procedures to manage scheduling and documentation and guarantee timely subcontract declaration that follows regulations by the department in charge.

In April 2022, following a relevant department’s delay in reporting an industrial accident (dated February 12, 2022) to the company by over a month, we were assessed a fine of W5.6 million for a violation of Provision 3 of Article 57 of the Occupational Safety and Health Act and other applicable law. We paid the fine and provided a company-wide notice and training to promote immediate reporting upon the occurrence of similar incidents and to prevent such delays in the future. We also took personnel actions relating to relevant employees.

In May 2022, after a regular facility inspection following an industrial accident at the site, the trial court (Goyang Branch of Uijeongbu District Court) ordered a fine of W5 million on each of us and one employee (former Executive Director and former On-site Safety Manager) for a violation of certain provisions of the Occupational Safety and Health Act. We are strengthening our safety management standards and employee training program to prevent industrial accidents.

On December 15, 2022, under Provision 2 of Article 17 of the Act on the Allocation and Trading of Greenhouse-gas Emission Permits, the Ministry of Environment ordered a fine of W1.6 million on us for failure to timely submit a report on the cancellation of allocation of emission rights (when a designated business entity shuts down a part or the entirety of its production site and if the such site’s greenhouse gas emission is less than 50% of the allocated quota due to the closure, shutdown, or discontinuation of operation of its facilities, the designated business shall report to a relevant agency within a month of such shut down). We paid the fine and established procedures to prevent the recurrence of similar events, including regular monthly monitoring of site closures and changes in emissions.

On May 19, 2023, an incident resulting in the death of one of our employees occurred, and we subsequently became subject to a non-periodic inspection by the Southern Branch Office of the Seoul Regional Employment and Labor Office. As a result of the labor inspection, we and our former CEO were alleged to have violated Article 53 of the Labor Standards Act on October 6, 2023, and the Southern Branch Office of Ministry of Employment and Labor is currently conducting an investigation. In addition, on November 13, 2023, we had received a corrective order from the Southern Branch Office of the Seoul Regional Employment and Labor Office to pay W239,743,773 in overtime wages to the relevant employees for violations of Article 36 and Provision 1 of Article 43 of the Labor Standards Act. On November 27, 2023, we had fulfilled the corrective order, and accordingly, we do not expect to be charged with any further penalties in relation to the corrective order. In the case of a corrective order, when such order is fulfilled, the case becomes concluded at the labor office level, and the labor office does not pursue further criminal action. In order to prevent the recurrence of similar events, we have established a special committee to improve the culture of our organization and have continued to implement ongoing remedial measures including the reorganization of our employee attendance system.

25

12. Financial Information

A. Financial highlights (Based on consolidated K-IFRS).

(Unit: In millions of Won)

Description	As of June 30, 2024		As of December 31, 2023		As of December 31, 2022
Current assets		9,811,607		9,503,186		9,444,035
Quick assets		6,729,815		6,975,458		6,571,117
Inventories		3,081,792		2,527,728		2,872,918
Non-current assets		25,262,180		26,256,112		26,241,984
Investments in equity accounted investees		87,022		84,329		109,119
Property, plant and equipment, net		19,003,199		20,200,332		20,946,933
Intangible assets		1,759,510		1,773,955		1,752,957
Other non-current assets		4,412,449		4,197,496		3,432,975
Total assets		35,073,787		35,759,298		35,686,019
Current liabilities		14,360,599		13,885,028		13,961,520
Non-current liabilities		11,533,604		13,103,726		10,405,272
Total liabilities		25,894,203		26,988,754		24,366,792
Share capital		2,500,000		1,789,079		1,789,079
Share premium		2,821,006		2,251,113		2,251,113
Retained earnings		1,381,966		2,676,014		5,359,769
Other equity		929,924		515,976		479,628
Non-controlling interest		1,546,688		1,538,362		1,439,638
Total equity		9,179,584		8,770,544		11,319,227

(Unit: In millions of Won, except for per share data and number of consolidated entities)

Description	For the six months ended June 30, 2024			For the year ended December 31, 2023			For the year ended December 31, 2022
Revenue		11,961,174			21,330,819			26,151,781
Operating profit (loss)		(563,105	)		(2,510,164	)		(2,085,047	)
Profit (loss) from continuing operations		(1,232,074	)		(2,576,729	)		(3,195,585	)
Profit (loss) for the period		(1,232,074	)		(2,576,729	)		(3,195,585	)
Profit (loss) attributable to:
Owners of the company		(1,289,684	)		(2,733,742	)		(3,071,565	)
Non-controlling interest		57,610			157,013			(124,020	)
Basic earnings (loss) per share(1)		(2,917	)		(7,177	)		(8,064	)
Diluted earnings (loss) per share(1)		(2,917	)		(7, 177	)		(8,064	)
Number of consolidated entities(2)		22			22			22

(1) The number of outstanding common shares has increased due to our paid-in capital increase in the first quarter of 2024. The basic earnings (loss) per share and diluted earnings (loss) per share for the years ended December 31, 2023 and December 31, 2022 have been adjusted in consideration of the bonus element in a rights issue to our existing shareholders during the first quarter of 2024.

(2) The number of consolidated entities is based on the consolidated entities (including the parent company) as of the end of the reporting period.

26

B. Financial highlights (Based on separate K-IFRS).

(Unit: In millions of Won)

Description	As of June 30, 2024		As of December 31, 2023		As of December 31, 2022
Current assets		6,908,109		5,590,482		5,627,177
Quick assets		4,773,845		3,809,523		3,702,583
Inventories		2,134,264		1,780,959		1,924,594
Non-current assets		23,294,390		24,141,930		23,631,862
Investments		4,856,003		4,932,063		4,837,704
Property, plant and equipment, net		12,598,059		13,584,247		14,044,844
Intangible assets		1,676,741		1,683,029		1,635,181
Other non-current assets		4,163,587		3,942,591		3,114,133
Total assets		30,202,499		29,732,412		29,259,039
Current liabilities		18,727,115		16,422,259		16,043,011
Non-current liabilities		5,926,936		7,628,598		5,865,589
Total liabilities		24,654,051		24,050,857		21,908,600
Share capital		2,500,000		1,789,079		1,789,079
Share premium		2,821,006		2,251,113		2,251,113
Retained earnings		227,442		1,641,363		3,310,247
Other equity		0		0		0
Total equity		5,548,448		5,681,555		7,350,439

(Unit: In millions of Won, except for per share data)

Description	For the six months ended June 30, 2024			For the year ended December 31, 2023			For the year ended December 31, 2022
Revenue		11,259,241			19,811,015			24,131,172
Operating profit (loss)		(1,102,701	)		(3,884,121	)		(3,201,463	)
Profit (loss) from continuing operations		(1,409,652	)		(1,718,701	)		(3,191,387	)
Profit (loss) for the period		(1,409,652	)		(1,718,701	)		(3,191,387	)
Basic earnings (loss) per share(1)		(3,188	)		(4,512	)		(8,379	)
Diluted earnings (loss) per share(1)		(3,188	)		(4,512	)		(8,379	)

(1) The number of outstanding common shares has increased due to our paid-in capital increase in the first quarter of 2024. The basic earnings (loss) per share and diluted earnings (loss) per share for the years ended December 31, 2023 and December 31, 2022 have been adjusted in consideration of the bonus element in a rights issue to our existing shareholders during the first quarter of 2024.

27

C. Consolidated subsidiaries (as of June 30, 2024)

Company Interest	Primary Business	Location	Equity
LG Display America, Inc.	Sales	U.S.A.		100	%
LG Display Germany GmbH	Sales	Germany		100	%
LG Display Japan Co., Ltd.	Sales	Japan		100	%
LG Display Taiwan Co., Ltd.	Sales	Taiwan		100	%
LG Display Nanjing Co., Ltd.	Manufacturing	China		100	%
LG Display Shanghai Co., Ltd.	Sales	China		100	%
LG Display Guangzhou Co., Ltd.	Manufacturing	China		100	%
LG Display Shenzhen Co., Ltd.	Sales	China		100	%
LG Display Singapore Pte. Ltd.	Sales	Singapore		100	%
L&T Display Technology (Fujian) Limited	Manufacturing and sales	China		51	%
LG Display Yantai Co., Ltd.	Manufacturing	China		100	%
Nanumnuri Co., Ltd.	Workplace services	Korea		100	%
LG Display (China) Co., Ltd.	Manufacturing and sales	China		70	%
Unified Innovative Technology, LLC	Managing intellectual property	U.S.A.		100	%
LG Display Guangzhou Trading Co., Ltd.	Sales	China		100	%
Global OLED Technology LLC	Managing intellectual property	U.S.A.		100	%
LG Display Vietnam Haiphong Co., Ltd.	Manufacturing and sales	Vietnam		100	%
Suzhou Lehui Display Co., Ltd.	Manufacturing and sales	China		100	%
LG Display Fund I LLC(1)	Investing in new emerging companies	U.S.A		100	%
LG Display High-Tech (China) Co., Ltd.	Manufacturing and sales	China		70	%

(1) During the reporting period, we invested an additional W5,140 million in LG Display Fund I LLC.

D. Status of equity investments (as of June 30, 2024)

(1) Consolidated subsidiaries

Company	Capital Stock (in millions)		Date of Incorporation		Equity Interest
LG Display America, Inc.	USD	411		September 1999		100	%
LG Display Germany GmbH	EUR	1		October 1999		100	%
LG Display Japan Co., Ltd.	JPY	95		October 1999		100	%
LG Display Taiwan Co., Ltd.	TWD	116		April 1999		100	%
LG Display Nanjing Co., Ltd.	CNY	3,020		July 2002		100	%
LG Display Shanghai Co., Ltd.	CNY	4		January 2003		100	%
LG Display Guangzhou Co., Ltd.	CNY	1,655		June 2006		100	%
LG Display Shenzhen Co., Ltd.	CNY	4		July 2007		100	%
LG Display Singapore Pte. Ltd.	USD	1		November 2008		100	%
L&T Display Technology (Fujian) Limited	CNY	116		December 2009		51	%
LG Display Yantai Co., Ltd.	CNY	1,008		March 2010		100	%
Nanumnuri Co., Ltd.	KRW	800		March 2012		100	%
LG Display (China) Co., Ltd.	CNY	8,232		December 2012		70	%
Unified Innovative Technology, LLC	USD	9		March 2014		100	%
LG Display Guangzhou Trading Co., Ltd.	CNY	1		April 2015		100	%
Global OLED Technology LLC	USD	138		December 2009		100	%
LG Display Vietnam Haiphong Co., Ltd.	USD	600		May 2016		100	%
Suzhou Lehui Display Co., Ltd.	CNY	637		July 2016		100	%
LG Display Fund I LLC(1)	USD	79		May 2018		100	%
LG Display High-Tech (China) Co., Ltd.	CNY	15,600		July 2018		70	%

(1) During the reporting period, we invested an additional W5,140 million in LG Display Fund I LLC.

28

(2) Affiliated companies

Company	Carrying Amount (in   millions)		Date of   Incorporation		Equity Interest
Paju Electric Glass Co., Ltd.	W	25,866		January 2005		40	%
Wooree E&L Co., Ltd.	W	7,611		June 2008		13	%
YAS Co., Ltd.	W	28,532		April 2002		16	%
Avatec Co., Ltd.	W	21,855		August 2000		14	%
Arctic Sentinel, Inc.		—		June 2008		10	%
Cynora GmbH		—		March 2003		10	%
Material Science Co., Ltd.(1)	W	3,158		January 2014		15	%

(1) During the six months ended June 30, 2024, our equity interest in Material Science Co., Ltd. decreased from 16% to 15% due to a decrease in the investee’s treasury shares.

Although our respective share interests in Wooree E&L Co., Ltd., YAS Co., Ltd., Avatec Co., Ltd., Arctic Sentinel, Inc., Cynora GmbH and Material Science Co., Ltd. are below 20%, we are able to exercise significant influence through our right to appoint a director to the board of directors of each investee. Accordingly, the investments in these investees have been accounted for using the equity method.

For the six months ended June 30, 2024 and 2023, the aggregate amount of dividends we received from our affiliated companies was W200 million and W15,200 million, respectively.

13. Audit Information

A. Audit service

(Unit: In millions of Won, hours)

Description	2024 H1	2023	2022
Auditor	Samil PwC	KPMG Samjong	KPMG Samjong
Activity	Audit by independent auditor	Audit by independent auditor	Audit by independent auditor
Compensation(1)	1,800 (650)(2)	1,640 (590)(2)	1,557 (575)(2)
Time required(3)	8,710	21,246	21,238

(1) Compensation amount is the contracted amount for the full fiscal year.

(2) Compensation amount in ( ) is for Form 20-F filing and SOX 404 audit.

(3) Figures are based on actual performance as of the date of this report.

B. Non-audit service

Period	Date of contract	Description of   service	Period of service	Compensation
2024 H1	February 2024	Tax advice	March 2024 ~ December 2024	W50 million
2023	—	—	—	—
2022	—	—	—	—

* Based on direct contracts on a separate basis.

14. Management’s Discussion and Analysis of Financial Condition and Results of Operations

This information is omitted in quarterly and semi-annual reports in accordance with Korean disclosure rules, and we plan to include such information in our annual report.

29

15. Board of Directors

A. Members of the board of directors

As of June 30, 2024, our board of directors consisted of two non-outside directors, one non-standing director and four outside directors.

(As of June 30, 2024)

Name	Position	Primary responsibility
Cheoldong Jeong (1)	Representative Director (non-outside)	Chairman of board of directors
Sung Hyun Kim	Director (non-outside), Chief Financial Officer and Senior Vice President	Overall head of finances
Beom Jong Ha	Non-standing Director	Related to the overall management
Doocheol Moon (1)	Outside Director	Related to the overall management
Chung Hae Kang	Outside Director	Related to the overall management
Jungsuk Oh	Outside Director	Related to the overall management
Sang-Hee Park	Outside Director	Related to the overall management

(1) At the annual general meeting of shareholders held on March 22, 2024, James (Hoyoung) Jeong retired from his position as a non-outside director, Cheoldong Jeong was newly appointed as a non-outside director, and Doocheol Moon was reappointed as an outside director.

B. Committees of the board of directors

We have the following committees that serve under our board of directors: Management Committee, Outside Director Nomination Committee, Audit Committee, ESG Committee and Related Party Transaction Committee.

As of June 30, 2024, the Management Committee consisted of two non-outside directors, Cheoldong Jeong (Chairman) and Sung Hyun Kim.

As of March 22, 2024, the composition of the Outside Director Nomination Committee was as follows.

(As of March 22, 2024)

Committee	Composition	Members(1)
Outside Director Nomination Committee	1 non-standing director and 2 outside directors	Beom Jong Ha, Doocheol Moon and Jungsuk Oh

(1) Beom Jong Ha, Doocheol Moon and Jungsuk Oh were each appointed as a member of the outside director nomination committee of the board of directors at the board of directors’ meeting on March 22, 2024.

As of June 30, 2024, the composition of the Audit Committee was as follows.

(As of June 30, 2024)

Committee	Composition	Members(1)
Audit Committee	4 outside directors	Doocheol Moon (Chairperson), Chung Hae Kang, Jungsuk Oh and Sang-Hee Park

(1) Doocheol Moon was reappointed as an outside director and a member of the Audit Committee on March 22, 2024 and was appointed as the chairperson on April 24, 2024.

30

As of June 30, 2024, the composition of the ESG Committee was as follows.

(As of June 30, 2024)

Committee	Composition	Members(1)
ESG Committee	1 non-outside director and 4 outside directors	Doocheol Moon (Chairperson), Chung Hae Kang, Jungsuk Oh, Sang-Hee Park and Cheoldong Jeong

(1) Cheoldong Jeong and Doocheol Moon were appointed as members of the committee on March 22, 2024.

As of June 30, 2024, the composition of the Related Party Transaction Committee was as follows.

(As of June 30, 2024)

Committee	Composition	Members(1)
Related Party Transaction Committee	1 non-outside director and 3 outside directors	Chung Hae Kang (Chairperson), Jungsuk Oh, Sang-Hee Park and Sung Hyun Kim

(1) Sang-Hee Park was appointed as a member of the committee on March 22, 2024.

C. Independence of directors

Directors are appointed in accordance with the procedures of the Commercial Act and other relevant laws and regulations. Our board of directors is independent as four out of the seven directors that comprise the board are outside directors. Outside directors candidates are nominated for appointment at a shareholders’ meeting after undergoing rigorous review by the Outside Director Nomination Committee.

16. Information Regarding Shares

A. Total number of shares

(1) Total number of shares authorized to be issued (as of June 30, 2024): 500,000,000 shares.

(2) Total shares issued and outstanding (as of June 30, 2024): 500,000,000 shares.

B. Shareholder list

(1) Largest shareholder and related parties as of June 30, 2024:

Name	Relationship	Number of shares of common stock		Equity interest
LG Electronics(1)	Largest shareholder		183,593,206		36.72	%

(1) The number of shares and equity interest held by LG Electronics reflect its participation in our paid-in capital increase in March 2024.

(2) Shareholders who are known to us that own 5% or more of our shares as of June 30, 2024, which was the most recent record date:

Beneficial owner	Number of shares of common stock	Equity interest
LG Electronics	183,593,206	36.72%
Employee Stock Ownership Association	28,182,347	5.64%

31

17. Directors and Employees

A. Directors

(1) Remuneration for directors in 2024 H1:

(Unit: person, in millions of Won)

Classification	No. of directors(1)		Amount paid(2)(4)		Per capita average remuneration paid(3)
Non-outside directors		3		1,339		446
Outside directors who are not audit committee members		—		—		—
Outside directors who are audit committee members		4		192		48
Total		7		1,531		218

(1) Number of directors as of June 30, 2024.

(2) Among the directors, one non-standing director is not compensated.

(3) Per capita average remuneration paid is calculated by using the sum of the average monthly remuneration paid in the six months ended June 30, 2024 (excluding one non-standing director who is not compensated).

(4) Due to the retirement of James (Hoyoung) Jeong as a non-outside director and the appointment of Cheoldong Jeong as a non-outside director at the annual general meeting of shareholders held on March 22, 2024, the amount paid to non-outside directors includes the remuneration paid to both directors during their terms of office.

(2) Standards of remuneration paid to non-outside and outside directors

• Non-outside directors (excluding outside directors and audit committee members)

The remuneration system for non-outside directors consists of base salary, position salary and performance-related pay. The remuneration for non-outside directors is measured in accordance with the standards established by the board of directors (within the amount approved at the annual general meeting of shareholders), including the non-outside director’s position and job responsibilities.

• Standards for base salary/position salary: relevant position and job responsibilities, among others

• Standards for performance-related pay: financial performance of the company and achievement of individual management goals, among others

• Outside directors, audit committee members and auditor

The remuneration for outside directors, audit committee members and auditor is measured in accordance with the standards established by the board of directors (within the amount approved at the annual general meeting of shareholders), including the individual’s job responsibilities, among others.

32

(3) Remuneration for individual directors and audit committee members

• Individual amount of remuneration paid in 2024 (among those paid over W500 million per year)

(Unit: in millions of Won)

Name	Position		Total remuneration		Payment not included in total remuneration
Cheoldong Jeong		Representative Director		705		—

• Method of calculation

Name

Method of calculation

Cheoldong Jeong

Total remuneration •  W705 million. Salary •  Base salary is set in accordance with the executive compensation regulations established by the board of directors. Monthly payments of W65 million between January and June were made. •  Position salary is calculated based on the significance of the position and responsibilities of the job. Monthly payments of W52 million between January and June were made. •  A total of W3.8 million of welfare benefits were paid between January and June in accordance with welfare benefits standards.

(4) Remuneration for the five highest paid individuals (among those paid over W500 million per year)

• Individual remuneration amount

(Unit: in millions of Won)

Name	Position	Total remuneration(1)		Payment not included in total remuneration
James (Hoyoung) Jeong	Former President		1,521		—
Kang Yeol Oh	Advisor		1,386		—
Han Seop Kim	Advisor		1,186		—
Hee Yeon Kim	Advisor		1,087		—
Cheoldong Jeong	Representative Director		705		—

(1) Calculated based on the total amount of remuneration for 2024.

• Method of calculation

Name

Method of calculation

James (Hoyoung) Jeong(1)

Total remuneration(2) •  W1,521 million (consisting of W351 million in salary and W1,170 million in retirement pay). Salary •  Base salary is set in accordance with the executive compensation regulations established by the board of directors. Monthly payments of W65 million between January and March were made. •  Position salary is calculated based on the significance of the position and responsibilities of the job. Monthly payments of W52 million between January and March were made. •  A total of W0.3 million of welfare benefits were paid between January and March in accordance with other welfare benefits standards. Retirement pay •  Retirement pay is calculated in accordance with the applicable provisions of our regulations on compensation for retiring executives and is evaluated by the duration of employment (24 years), monthly base salary at the time of retirement and payment rate per position (2.5 to 4.5%).

33

Kang Yeol Oh(1)	Total remuneration(2) •  W1,386 million (consisting of W146 million in salary and W1,240 million in retirement pay). Salary •  Base salary is set in accordance with the executive compensation regulations established by the board of directors. Monthly payments of W31.5 million between January and March and W15.7 million between April and June were made. •  A total of W4.3 million of welfare benefits were paid between January and March in accordance with other welfare benefits standards. Retirement pay •  Retirement pay is calculated in accordance with the applicable provisions of our regulations on compensation for retiring executives and is evaluated by the duration of employment (14 years), monthly base salary at the time of retirement and payment rate per position (2.5 to 4.5%)
Han Seop Kim(1)	Total remuneration(2) •  W1,186 million (consisting of W152 million in salary and W1,034 million in retirement pay). Salary •  Base salary is set in accordance with the executive compensation regulations established by the board of directors. Monthly payments of W31.5 million between January and March and W15.7 million between April and June were made. •  A total of W10.4 million of welfare benefits were paid between January and March in accordance with other welfare benefits standards. Retirement pay •  Retirement pay is calculated in accordance with the applicable provisions of our regulations on compensation for retiring executives and is evaluated by the duration of employment (12 years), monthly base salary at the time of retirement and payment rate per position (2.5 to 4.5%).
Hee Yeon Kim(1)	Total remuneration(2) •  W1,087 million (consisting of W148 million in salary and W939 million in retirement pay). Salary •  Base salary is set in accordance with the executive compensation regulations established by the board of directors. Monthly payments of W31.5 million between January and March and W15.7 million between April and June were made. •  A total of W6.1 million of welfare benefits were paid between January and March in accordance with other welfare benefits standards. Retirement pay •  Retirement pay is calculated in accordance with the applicable provisions of our regulations on compensation for retiring executives and is evaluated by the duration of employment (11 years), monthly base salary at the time of retirement and payment rate per position (2.5 to 4.5%).

Cheoldong Jeong Total remuneration⁽²⁾ •  W705 million (consisting of W705 million in salary). Salary •  Base salary is set in accordance with the executive compensation regulations established by the board of directors. Monthly payments of W65 million between January and June were made. •  Position salary is calculated based on the significance of the position and responsibilities of the job. Monthly payments of W52 million between January and June were made. •  A total of W3.8 million of welfare benefits were paid between January and June in accordance with other welfare benefits standards.

(1) Each of James (Hoyoung) Jeong (former president), Kang Yeol Oh (advisor), Han Seop Kim (advisor) and Hee Yeon Kim (advisor) retired from our company effective as of March 31, 2024.

(2) Calculated based on the total amount of remuneration for 2024.

34

(5) Stock options

• Not applicable.

B. Employees

As of June 30, 2024, we had 27,352 employees (excluding our directors). On average, our male employees have served 13.7 years and our female employees have served 11.4 years. The total amount of salary paid to our employees for the six months ended June 30, 2024 based on income tax statements submitted to the Korean tax authority in accordance with Article 20 of the Income Tax Act was W1,029,571 million for our male employees and W147,069 million for our female employees. The following table provides details of our employees as of June 30, 2024:

(Unit: person, in millions of Won, year)

	Number of employees(1)		Total salary in 2024(2)(3)(4)		Average salary per capita(5)		Average years of service
Male		22,885		1,029,571		45		14
Female		4,467		147,069		33		11
Total		27,352		1,176,640		43		13

(1) Includes part-time employees hired for temporary needs or to serve as temporary replacements for employees on parental leave.

(2) Welfare benefits and retirement expenses have been excluded. Total welfare benefit provided to our employees for the six months ended June 30. 2024 was W217,843 million and the per capita welfare benefit provided was W8.0 million.

(3) Based on income tax statements, which are submitted to the Korean tax authority in accordance with Article 20 of the Income Tax Act.

(4) Includes incentive payments to employees who have transferred from our affiliated companies.

(5) Calculated using the sum of the average monthly salary.

C. Remuneration for executive officers (excluding directors)

(Unit: person, in millions of Won)

Number of executive officers	Total salary in 2024		Average salary per capita(1)
86		16,827		187

(1) Calculated using the sum of the average monthly salary.

18. Other Matters

A. Legal proceedings

We are a defendant in two separate civil lawsuits (comprising one damages claim in the United Kingdom filed by private plaintiffs and one damages claim in Israel filed by private plaintiffs) filed against us and certain other TFT-LCD panel manufacturers in connection with alleged anticompetitive behavior of the defendants. In each of these cases, the amount being sought has not been determined. The trial for the case in the United Kingdom was completed and the court’s ruling regarding the amount of our liability remains subject to further determination, while no trial has been scheduled for the case in Israel. While the expected outcome of each of these cases is unclear, we do not believe that any of these cases would have a material effect on our financial conditions.

35

B. Status of collateral pledged to related party

On March 27, 2023, the Board of Directors resolved to borrow W1 trillion from our largest shareholder, LG Electronics, in order to strengthen the competitiveness of our OLED business as well as for working capital purposes, and withdrew W650 billion of the principal amount of such borrowing on March 30, 2023 and the remaining W350 billion on April 20, 2023. The repayment terms provide for a two-year grace period followed by a one-year repayment period in installments with an interest rate of 6.06%. In addition, we pledged certain of our land and buildings equivalent to the sum of the principal and interest amount as collateral for such borrowing.

Moreover, deposits in the amount of CNY1,820 million (equivalent to the maximum amount of W346.6 billion) have been pledged as collateral by LG Display Nanjing Co., Ltd. in connection with our borrowings in the amount of W300 billion from Shinhan Bank and others.

C. Material events subsequent to the reporting period

None

36

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Condensed Consolidated Interim Financial Statements

(Unaudited)

June 30, 2024 and 2023

(With Report on Review of Condensed Consolidated Interim Financial Statements)

37

Contents

	Page
Report on Review of Condensed Consolidated Interim Financial Statements		39
Consolidated Interim Statements of Financial Position		41
Consolidated Interim Statements of Comprehensive Loss		42
Consolidated Interim Statements of Changes in Equity		43
Consolidated Interim Statements of Cash Flows		44
Notes to the Condensed Consolidated Interim Financial Statements		45

38

Report on Review of Condensed Consolidated Interim Financial Statements

(English Translation of a Report Originally Issued in Korean)

To the Shareholders and Board of Directors of

LG Display Co., Ltd.

Reviewed Financial Statements

We have reviewed the accompanying condensed consolidated interim financial statements of LG Display Co., Ltd. and its subsidiaries (collectively referred to as the “Group”). These condensed consolidated interim financial statements consist of the consolidated interim statement of financial position of the Group as at June 30, 2024, and the related consolidated interim statements of comprehensive income for the three-month and six-month periods ended June 30, 2024, and condensed consolidated interim statements of changes in equity and cash flows for the six-month period ended June 30, 2024, and material accounting policy information and other selected explanatory notes, expressed in Korean won.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and presentation of these condensed consolidated interim financial statements in accordance with International Financial Reporting Standards as adopted by the Republic of Korea (Korean IFRS) 1034 Interim Financial Reporting, and for such internal control as management determines is necessary to enable the preparation of condensed consolidated interim financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express a conclusion on these condensed consolidated interim financial statements based on our review.

We conducted our review in accordance with quarterly or semi-annual review standards established by the Securities and Futures Commission of the Republic of Korea. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Korean Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe the accompanying condensed consolidated interim financial statements are not prepared, in all material respects, in accordance with Korean IFRS 1034 Interim Financial Reporting.

Other Matters

The consolidated statements of comprehensive income for the three-month and six-month periods ended June 30, 2023, and consolidated statements of changes in equity and cash flows for the six-month period ended June 30, 2023, presented herein for comparative purposes, were reviewed by another auditor whose report dated August 11, 2023. Based on their review, nothing has come to their attention that causes them to believe the accompanying condensed financial statements do not present fairly, in all material respects, in accordance with Korean IFRS 1034 Interim Financial Reporting.

39

The consolidated statement of financial position as at December 31, 2023, and the consolidated statements of comprehensive income, changes in equity and cash flows for the year then ended, not presented herein, were audited by another auditor who expressed an unqualified opinion on those statements on March 7, 2024. The consolidated statement of financial position as at December 31, 2023, presented herein for comparative purposes, is consistent, in all material respects, with the above audited statement of financial position as at December 31, 2023.

Review standards and their application in practice vary among countries. The procedures and practices used in the Republic of Korea to review such financial statements may differ from those generally accepted and applied in other countries.

August 14, 2024

Seoul, Korea

This report is effective as of August 14, 2024, the review report date. Certain subsequent events or circumstances, which may occur between the review report date and the time of reading this report, could have a material impact on the accompanying condensed consolidated interim financial statements and notes thereto. Accordingly, the readers of the review report should understand that there is a possibility that the above review report may have to be revised to reflect the impact of such subsequent events or circumstances, if any.

40

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Consolidated Interim Statements of Financial Position

As of June 30, 2024 and December 31, 2023

(In millions of won)	Note	June 30, 2024 (Unaudited)		December 31, 2023
Assets
Cash and cash equivalents	4, 25	W	1,974,149		2,257,522
Deposits in banks	4, 25		367,626		905,971
Trade accounts and notes receivable, net	5, 15, 25, 27		3,663,259		3,218,093
Other accounts receivable, net	5, 25		163,582		126,985
Other current financial assets	6, 25		236,818		168,623
Inventories	7		3,081,792		2,527,728
Prepaid income taxes			23,921		44,505
Other current assets	5		300,460		253,759
Total current assets			9,811,607		9,503,186
Deposits in banks	4, 25		11		11
Investments in equity accounted investees	8		87,022		84,329
Other non-current financial assets	6, 25		187,108		173,626
Property, plant and equipment, net	9, 18		19,003,199		20,200,332
Intangible assets, net	10, 18		1,759,510		1,773,955
Investment Property	11, 18		30,454		32,995
Deferred tax assets	23		3,827,701		3,562,861
Defined benefits assets, net	13		342,615		407,438
Other non-current assets			24,560		20,565
Total non-current assets			25,262,180		26,256,112
Total assets		W	35,073,787		35,759,298
Liabilities
Trade accounts and notes payable	25, 27	W	4,432,364		4,175,064
Current financial liabilities	12, 25, 26		5,982,175		5,262,295
Other accounts payable	25		2,281,587		2,918,903
Accrued expenses			630,465		648,949
Income tax payable			16,035		52,237
Provisions	14		98,466		117,676
Advances received			862,794		625,838
Other current liabilities			56,713		84,066
Total current liabilities			14,360,599		13,885,028
Non-current financial liabilities	12, 25, 26, 27		10,252,415		11,439,776
Non-current provisions	14		55,423		63,805
Defined benefit liabilities, net	13		1,363		1,559
Long-term advances received	15		625,140		967,050
Deferred tax liabilities	23		1,143		2,069
Other non-current liabilities	25		598,120		629,467
Total non-current liabilities			11,533,604		13,103,726
Total liabilities			25,894,203		26,988,754
Equity
Share capital	16		2,500,000		1,789,079
Share premium	16		2,821,006		2,251,113
Retained earnings			1,381,966		2,676,014
Reserves	16		929,924		515,976
Equity attributable to owners of the Parent			7,632,896		7,232,182
Non-controlling interests			1,546,688		1,538,362
Total equity			9,179,584		8,770,544
Total liabilities and equity		W	35,073,787		35,759,298

See accompanying notes to the condensed consolidated interim financial statements.

41

LG DISPLAY CO., LTD. AND SUBSIDIARIES 

Consolidated Interim Statements of Comprehensive Loss 

For the three-month and six-month periods ended June 30, 2024 and 2023 

			For the three-month periods ended June 30						For the six-month periods ended June 30
(In millions of won, except loss per share amounts)	Note		2024 (Unaudited)			2023 (Unaudited)			2024 (Unaudited)			2023 (Unaudited)
Revenue		17, 18, 27	W	6,708,199			4,738,571			11,961,174			9,149,627
Cost of sales		7, 19, 27		(6,094,596	)		(4,911,193	)		(11,129,683	)		(9,705,683	)
Gross profit (loss)				613,603			(172,622	)		831,491			(556,056	)
Selling expenses		19, 20		(145,325	)		(148,134	)		(269,946	)		(285,759	)
Administrative expenses		19, 20		(218,073	)		(220,758	)		(441,025	)		(445,152	)
Research and development expenses		19		(343,878	)		(339,956	)		(683,625	)		(692,861	)
Operating loss				(93,673	)		(881,470	)		(563,105	)		(1,979,828	)
Finance income		22		177,451			334,447			379,653			843,418
Finance costs		22		(417,562	)		(312,161	)		(825,270	)		(974,678	)
Other non-operating income		21		371,675			452,269			803,563			835,619
Other non-operating expenses		19, 21		(471,961	)		(469,847	)		(1,220,106	)		(1,075,565	)
Equity in income of equity accounted investees, net				1,441			(368	)		3,288			(935	)
Loss before income tax				(432,629	)		(877,130	)		(1,421,977	)		(2,351,969	)
Income tax benefit (expense)		23		(38,169	)		178,360			189,903			500,099
Loss for the period				(470,798	)		(698,770	)		(1,232,074	)		(1,851,870	)
Other comprehensive income (loss)
Items that will never be reclassified to profit or loss
Remeasurements of net defined benefit liabilities		13		(1,480	)		(238	)		(4,269	)		(783	)
Other comprehensive income (loss) from associates				(1	)		(2	)		(95	)		168
				(1,481	)		(240	)		(4,364	)		(615	)
Items that are or may be reclassified to profit or loss
Foreign currency translation differences for foreign operations		16		240,420			(284,194	)		493,948			78,911
Other comprehensive income (loss) from associates		16		236			(554	)		(68	)		(667	)
				240,656			(284,748	)		493,880			78,244
Other comprehensive income (loss) for the period, net of income tax				239,175			(284,988	)		489,516			77,629
Total comprehensive loss for the period			W	(231,623	)		(983,758	)		(742,558	)		(1,774,241	)
Profit (loss) attributable to:
Owners of the Parent				(506,527	)		(858,125	)		(1,289,684	)		(2,071,902	)
Non-controlling interests				35,729			159,355			57,610			220,032
Loss for the period			W	(470,798	)		(698,770	)		(1,232,074	)		(1,851,870	)
Total comprehensive income (loss) attributable to:
Owners of the Parent				(305,363	)		(1,068,177	)		(880,100	)		(1,980,435	)
Non-controlling interests				73,740			84,419			137,542			206,194
Total comprehensive loss for the period			W	(231,623	)		(983,758	)		(742,558	)		(1,774,241	)
Loss per share (in won)
Basic loss per share		24	W	(1,013	)		(2,253	)		(2,917	)		(5,440	)
Diluted loss per share		24	W	(1,013	)		(2,253	)		(2,917	)		(5,440	)

See accompanying notes to the condensed consolidated interim financial statements.

42

LG DISPLAY CO., LTD. AND SUBSIDIARIES 

Consolidated Interim Statements of Changes in Equity 

For the six-month periods ended June 30, 2024 and 2023 

		Attributable to owners of the Parent Company
(In millions of won)	Note	Share capital		Share premium		Retained earnings			Reserves			Sub-total			Non- controlling interests			Total equity
Balances at January 1, 2023		W	1,789,079		2,251,113		5,359,769			479,628			9,879,589			1,439,638			11,319,227
Total comprehensive income (loss) for the period
Profit (loss) for the period			—		—		(2,071,902	)		—			(2,071,902	)		220,032			(1,851,870	)
Other comprehensive income (loss)
Remeasurements of net defined benefit liabilities			—		—		(783	)		—			(783	)		—			(783	)
Foreign currency translation differences			—		—		—			92,749			92,749			(13,838	)		78,911
Other comprehensive income (loss) from associates			—		—		168			(667	)		(499	)		—			(499	)
Total other comprehensive income (loss)			—		—		(615	)		92,082			91,467			(13,838	)		77,629
Total comprehensive income (loss) for the period		W	—		—		(2,072,517	)		92,082			(1,980,435	)		206,194			(1,774,241	)
Transaction with owners, recognized directly in equity
Dividends to Non-controlling shareholders in subsidiaries			—		—		—			—			—			(34,098	)		(34,098	)
Balances at June 30, 2023 (Unaudited)		W	1,789,079		2,251,113		3,287,252			571,710			7,899,154			1,611,734			9,510,888
Balances at January 1, 2024		W	1,789,079		2,251,113		2,676,014			515,976			7,232,182			1,538,362			8,770,544
Total comprehensive income (loss) for the period
Profit (loss) for the period			—		—		(1,289,684	)		—			(1,289,684	)		57,610			(1,232,074	)
Other comprehensive income (loss)
Remeasurements of net defined benefit liabilities			—		—		(4,269	)		—			(4,269	)		—			(4,269	)
Foreign currency translation differences			—		—		—			414,016			414,016			79,932			493,948
Other comprehensive income (loss) from associates			—		—		(95	)		(68	)		(163	)		—			(163	)
Total other comprehensive income (loss)			—		—		(4,364	)		413,948			409,584			79,932			489,516
Total comprehensive income (loss) for the period		W	—		—		(1,294,048	)		413,948			(880,100	)		137,542			(742,558	)
Transaction with owners, recognized directly in equity
Capital Increase	16		710,921		569,893		—			—			1,280,814			—			1,280,814
Dividends to Non-controlling shareholders in subsidiaries			—		—		—			—			—			(129,216	)		(129,216	)
Total transaction with owners, recognized directly in equity			710,921		569,893		—			—			1,280,814			(129,216	)		1,151,598
Balances at June 30, 2024 (Unaudited)		W	2,500,000		2,821,006		1,381,966			929,924			7,632,896			1,546,688			9,179,584

See accompanying notes to the condensed consolidated interim financial statements. 

43

LG DISPLAY CO., LTD. AND SUBSIDIARIES 

Consolidated Interim Statements of Cash Flows 

For the six-month periods ended June 30, 2024 and 2023 

(In millions of won)	Note	2024 (Unaudited)			2023 (Unaudited)
Cash flows from (used in) operating activities:	26
Cash generated from operations	26		859,955			767,795
Income taxes paid			(84,360	)		(174,741	)
Interests received			46,370			63,361
Interests paid			(490,864	)		(469,140	)
Cash flows from operating activities		W	331,101			187,275
Cash flows from (used in) investing activities:
Dividends received		W	200			15,200
Increase in deposits in banks			(1,000	)		(591,187	)
Proceeds from withdrawal of deposits in banks			572,013			846,574
Acquisition of financial assets at fair value through profit or loss			(3,063	)		(1,964	)
Proceeds from disposal of financial asset at fair value through profit or loss			116			546
Acquisition of financial assets at fair value through other comprehensive income			—			(1,000	)
Proceeds from disposal of financial assets at fair value through other comprehensive income			—			891
Acquisition of property, plant and equipment			(1,247,480	)		(2,181,452	)
Proceeds from disposal of property, plant and equipment			165,471			372,684
Acquisition of intangible assets			(479,186	)		(349,258	)
Proceeds from disposal of intangible assets			5,140			4,215
Government grants received			2,307			4,863
Proceeds from settlement of derivatives			183,219			85,090
Increase in short-term loans			9,126			10,072
Increase in deposits			(1,575	)		(3,098	)
Decrease in deposits			875			1,665
Proceeds from disposal of greenhouse gas emission permits			6,494			2,310
Cash flows used in investing activities			(787,343	)		(1,783,849	)
Cash flows from (used in) financing activities:	26
Proceeds from short-term borrowings			2,809,097			3,745,459
Repayments of short-term borrowings			(3,569,093	)		(3,903,146	)
Proceeds from issuance of bonds			—			469,266
Repayments of bonds			(80,000	)		(433,990	)
Proceeds from long-term borrowings			1,970,455			3,971,105
Repayments of current portion of long-term borrowings			(2,168,236	)		(1,596,973	)
Payment of lease liabilities			(35,160	)		(39,356	)
Capital increase			1,292,455			—
Transaction cost from capital increase			(11,640	)		—
Subsidiaries’ dividends distributed to non-controlling interests			(136,519	)		(34,098	)
Cash flows from financing activities			71,359			2,178,267
Net increase (decrease) in cash and cash equivalents			(384,883	)		581,693
Cash and cash equivalents at January 1			2,257,522			1,824,649
Effect of exchange rate fluctuations on cash held			101,510			(27,903	)
Cash and cash equivalents at June 30		W	1,974,149			2,378,439

See accompanying notes to the condensed consolidated interim financial statements. 

44

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

1. Reporting Entity

(a) Description of the Parent Company

LG Display Co., Ltd. (the “Parent Company”) was incorporated in February 1985 and the Parent Company is a public corporation listed in the Korea Exchange since 2004. The main business of the Parent Company and its subsidiaries (the “Group”) is to manufacture and sell displays and its related products. As of June 30, 2024, the Group is operating Thin Film Transistor Liquid Crystal Display (“TFT-LCD”) and Organic Light Emitting Diode (“OLED”) panel manufacturing plants in Gumi, Paju and China and TFT-LCD and OLED module manufacturing plants in Gumi, Paju, China and Vietnam. The Parent Company is domiciled in the Republic of Korea with its address at 128 Yeouidae-ro, Yeongdeungpo-gu, Seoul, the Republic of Korea. As of June 30, 2024, LG Electronics Inc., a major shareholder of the Parent Company, owns 36.72% (183,593,206 shares) of the Parent Company’s common stock.

As of June 30, 2024, 500,000,000 shares of the Parent Company’s common stock is listed on Korea Exchange under the identifying code 034220, and 21,711,114 American Depository Shares (“ADSs”, 2 ADSs represent one share of common stock) is listed on the New York Stock Exchange under the symbol “LPL”.

45

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

1. Reporting Entity, Continued

(b) Consolidated Subsidiaries as of June 30, 2024

(In millions)
Subsidiaries	Location	Percentage of ownership			Closing month	Date of incorporation	Business	Share
LG Display America, Inc.	San Jose, U.S.A.		100	%	December	September 24, 1999	Sales of display products	USD	411
LG Display Germany GmbH	Eschborn, Germany		100	%	December	October 15, 1999	Sales of display products	EUR	1
LG Display Japan Co., Ltd.	Tokyo, Japan		100	%	December	October 12, 1999	Sales of display products	JPY	95
LG Display Taiwan Co., Ltd.	Taipei, Taiwan		100	%	December	April 12, 1999	Sales of display products	TWD	116
LG Display Nanjing Co., Ltd.	Nanjing, China		100	%	December	July 15, 2002	Production of display products	CNY	3,020
LG Display Shanghai Co., Ltd.	Shanghai, China		100	%	December	January 16, 2003	Sales of display products	CNY	4
LG Display Guangzhou Co., Ltd.	Guangzhou, China		100	%	December	June 30, 2006	Production of display products	CNY	1,655
LG Display Shenzhen Co., Ltd.	Shenzhen, China		100	%	December	July 27, 2007	Sales of display products	CNY	4
LG Display Singapore Pte. Ltd.	Singapore		100	%	December	November 4, 2008	Sales of display products	USD	1
L&T Display Technology (Fujian) Limited	Fujian, China		51	%	December	December 7, 2009	Production and sales of LCD module and LCD monitor sets	CNY	116
LG Display Yantai Co., Ltd.	Yantai, China		100	%	December	March 17, 2010	Production of display products	CNY	1,008
Nanumnuri Co., Ltd.	Gumi, South Korea		100	%	December	March 21, 2012	Business facility maintenance	KRW	800
LG Display (China) Co., Ltd.	Guangzhou, China		70	%	December	December 10, 2012	Production and sales of display products	CNY	8,232
Unified Innovative Technology, LLC	Wilmington, U.S.A.		100	%	December	March 12, 2014	Intellectual property management	USD	9
LG Display Guangzhou Trading Co., Ltd.	Guangzhou, China		100	%	December	April 28, 2015	Sales of display products	CNY	1
Global OLED Technology, LLC	Sterling, U.S.A.		100	%	December	December 18, 2009	OLED intellectual property management	USD	138
LG Display Vietnam Haiphong Co., Ltd.	Haiphong, Vietnam		100	%	December	May 5, 2016	Production and sales of display products	USD	600
Suzhou Lehui Display Co., Ltd.	Suzhou, China		100	%	December	July 1, 2016	Production and sales of LCD module and LCD monitor	CNY	637
LG DISPLAY FUND I LLC (*)	Wilmington, U.S.A.		100	%	December	May 1, 2018	Investment in venture business and technologies	USD	79
LG Display High-Tech (China) Co., Ltd.	Guangzhou, China		70	%	December	July 11, 2018	Production and sales of display products	CNY	15,600

(*) For the six-month period ended June 30, 2024, the Parent Company contributed W5,140 million in cash for the capital increase of LG DISPLAY FUND I LLC. There was no change in the Parent Company’s percentage of ownership in LG DISPLAY FUND I LLC as a result of this additional investment.

In addition to the above subsidiaries, the Parent Company has invested W11,700 million in MMT (Money Market Trust), which is controlled by the Parent Company.

46

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

2. Basis of Preparation

The Group maintains its accounting records in Korean won and prepares statutory financial statements in the Korean language (Hangul) in accordance with International Financial Reporting Standards as adopted by the Republic of Korea (Korean IFRS). The accompanying condensed consolidated interim financial statements have been condensed, restructured and translated into English from the Korean language financial statements.

Certain information attached to the Korean language financial statements, but not required for a fair presentation of the Group’s financial position, financial performance or cash flows, is not presented in the accompanying condensed consolidated interim financial statements.

(a) Application of accounting standards

The Group’s condensed consolidated interim financial statements have been prepared in accordance with International Financial Reporting Standard as adopted by the Republic of Korea (Korean IFRS) 1034 Interim Financial Reporting. These condensed consolidated interim financial statements do not include all of the information required for full annual consolidated financial statements and should be read in conjunction with the consolidated financial statements of the Group as of and for the year ended December 31, 2023.

(b) Basis of Measurement

The condensed consolidated interim financial statements have been prepared on the historical cost basis except for the following material items in the consolidated statement of financial position:

• derivative financial instruments at fair value, financial assets at fair value through profit or loss (“FVTPL”), financial assets at fair value through other comprehensive income (“FVOCI”), financial liabilities at fair value through profit or loss (“FVTPL”), and

• net defined benefit liabilities (defined benefit assets) recognized at the present value of defined benefit obligations less the fair value of plan assets

(c) Functional and Presentation Currency

Each subsidiary’s financial statements within the Group are presented in the subsidiary’s functional currency, which is the currency of the primary economic environment in which each subsidiary operates. The condensed consolidated interim financial statements are presented in Korean won, which is the Parent Company’s functional currency.

(d) Estimates and Judgments

The preparation of the condensed consolidated interim financial statements in conformity with Korean IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.

(e) Accounting standards and Interpretation issued and adopted by the Group

The Group has applied the following new or amended accounting standards for the annual periods commencing January 1, 2024.

47

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

2. Basis of Preparation, Continued

(e) Accounting standards and Interpretation issued and adopted by the Group, Continued

(i) Amendments to Korean IFRS 1001 Presentation of Financial Statements – Classification of Liabilities as Current or Non-current, Non-current Liabilities with Covenants

The amendments clarify that liabilities are classified as either current or non-current, depending on the substantive rights that exist at the end of the reporting period. Classification is unaffected by the likelihood that an entity will exercise right to defer settlement of the liability or the expectations of management. Also, the settlement of liability includes the transfer of the entity’s own equity instruments, however, it would be excluded if an option to settle them by the entity’s own equity instruments if compound financial instruments is met the definition of equity instruments and recognized separately from the liability. In addition, covenants that an entity is required to comply with after the end of the reporting period would not affect classification of a liability as current or non-current at the reporting date. When an entity classifies a liability that is subject to the covenants which an entity is required to comply with within twelve months of the reporting date as non-current at the end of the reporting period, the entity shall disclose information in the notes to understand the risk that non-current liabilities with covenants could become repayable within twelve months after the reporting period. The amendments do not have a significant impact on the financial statements.

(ii) Amendments to Korean IFRS 1007 Statement of Cash Flows, Korean IFRS 1107 Financial Instruments: Disclosures – Supplier finance arrangements

When applying supplier finance arrangements, an entity shall disclose information about its supplier finance arrangements that enables users of financial statements to assess the effects of those arrangements on the entity’s liabilities and cash flows and on the entity’s exposure to liquidity risk.

(iii) Amendments to Korean IFRS 1116 Leases – Lease Liability in a Sale and Leaseback

When subsequently measuring lease liabilities arising from a sale and leaseback, a seller-lessee shall determine lease payments or revised lease payments in a way that the seller-lessee would not recognize any amount of the gain or loss that relates to the right of use retained by the seller-lessee. The amendments do not have a significant impact on the financial statements.

(iv) Amendments to Korean IFRS 1001 Presentation of Financial Statements – Disclosure of Cryptographic Assets

The amendments require an additional disclosure if an entity holds cryptographic assets, or holds cryptographic assets on behalf of the customer, or issues cryptographic assets. The amendments do not have a significant impact on the financial statements.

(f) Accounting standards and Interpretation issued but not yet adopted by the Group

The Accounting standards and Interpretation issued that have been enacted or amended but have not been applied because the effective date has not arrived are as follows:

Amendments to Korean IFRS 1021 The Effects of Changes in Foreign Exchange Rates and 1101 First-time Adoption of International Financial Reporting Standards – Lack of Exchangeability

48

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

2. Basis of Preparation, Continued

(f) Accounting standards and Interpretation issued but not yet adopted by the Group, Continued

When an entity estimates a spot exchange rate because exchangeability between two currencies is lacking, the entity shall disclose related information. The amendments should be applied for annual periods beginning on or after January 1, 2025, and earlier application is permitted. The Group is in review for the impact of these amendments on the financial statements.

(g) Income Tax Expense

The Group is within the scope of the Pillar Two model rules, there is no additional income tax expenses recognized in relation to the rules and applied the exception to recognizing and disclosing information about deferred tax and assets and liabilities related to Pillar Two income Taxes.

3. Accounting Policies

The accounting policies followed by the Group in the preparation of its condensed consolidated interim financial statements are the same as those followed by the Group in its preparation of the consolidated financial statements as of and for the year ended December 31, 2023, except for the application of Korean IFRS 1034 Interim Financial Reporting.

4. Cash and Cash Equivalents and Deposits in Banks

Cash and cash equivalents and deposits in banks as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)
	June 30, 2024		December 31, 2023
Current assets
Cash and cash equivalents
Cash	W	—		3
Deposits		1,974,149		2,257,519
Total	W	1,974,149		2,257,522
Deposits in banks
Time deposits (*1) (*2)	W	367,626		905,971
Non-current assets
Deposits in banks
Deposit for checking account	W	11		11

(*1) As of June 30, 2024, it includes deposits restricted in use of W346,626 million to guarantee the Parent Company’s borrowings.

(*2) As of June 30, 2024, it includes funds for business cooperation of W20,000 million to aid LG Group companies’ suppliers which is restricted in use.

49

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

5. Trade Accounts and Notes Receivable, Other Accounts Receivable and Others

(a) Trade accounts and notes receivable as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)
	June 30, 2024		December 31, 2023
Due from third parties, net	W	3,100,881		2,827,163
Due from related parties		562,378		390,930
Total	W	3,663,259		3,218,093

(b) Other accounts receivable as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)
	June 30, 2024		December 31, 2023
Current assets
Non-trade receivables, net	W	146,398		112,739
Accrued income		17,184		14,246
Total	W	163,582		126,985

Due from related parties included in other accounts receivable as of June 30, 2024 and December 31, 2023 are W84,410 million and W11,520 million, respectively.

50

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

5. Trade Accounts and Notes Receivable, Other Accounts Receivable and Others, Continued

(c) The aging of trade accounts and notes receivable and other accounts receivable as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)	June 30, 2024
	Original amount				Allowance for doubtful account
	Trade accounts and notes receivable		Other accounts receivable		Trade accounts and notes receivable		Other accounts receivable
Not past due	W	3,640,820		160,986		(1,008)		(292	)
1-15 days past due		16,386		1,294		(5)		(13	)
16-30 days past due		1,564		5		—		—
31-60 days past due		5,363		366		—		(4	)
More than 60 days past due		139		1,248		—		(8	)
Total	W	3,664,272		163,899		(1,013)		(317	)
(In millions of won)	December 31, 2023
	Original amount				Allowance for doubtful account
	Trade accounts and notes receivable		Other accounts receivable		Trade accounts and notes receivable		Other accounts receivable
Not past due	W	3,212,514		123,919		(932)		(191	)
1-15 days past due		3,077		1,357		(1)		—
16-30 days past due		3,435		156		—		(2	)
31-60 days past due		—		168		—		(2	)
More than 60 days past due		—		1,592		—		(12	)
Total	W	3,219,026		127,192		(933)		(207	)

The movement in the allowance for doubtful account in respect of trade accounts and notes receivable and other accounts receivable for the six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)	June 30, 2024				June 30, 2023
	Trade accounts and notes receivable		Other accounts receivable		Trade accounts and notes receivable		Other accounts receivable
At January 1	W	933		207		875		1,778
(Reversal of) bad debt expense		80		110		146		(226	)
At June 30	W	1,013		317		1,021		1,552

51

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

5. Trade Accounts and Notes Receivable, Other Accounts Receivable and Others, Continued

(d) Other current assets as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)
	June 30, 2024		December 31, 2023
Advanced payments	W	1,456		1,675
Prepaid expenses		104,658		103,355
Prepaid value added tax		190,228		143,608
Right to recover returned goods		4,118		5,121
Total	W	300,460		253,759

52

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

6. Other Financial Assets

Other financial assets as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)	June 30, 2024		December 31, 2023
Current assets
Financial assets at fair value through profit or loss
Derivatives (*1)	W	145,090		136,762
Fair value hedging derivatives
Derivatives (*2)	W	51,301		—
Financial assets at amortized cost
Deposits	W	8,751		1,356
Short-term loans		31,049		26,375
Subtotal	W	39,800		27,731
Other financial assets
Lease receivables	W	627		4,130
Total	W	236,818		168,623
Non-current assets
Financial assets at fair value through profit or loss
Equity securities	W	96,450		87,027
Convertible securities		3,227		3,127
Derivatives (*1)		35,650		32,941
Subtotal	W	135,327		123,095
Fair value hedging derivatives
Derivatives (*2)	W	22,915		—
Financial assets at amortized cost
Deposits	W	9,311		17,022
Long-term loans		19,555		33,509
Subtotal	W	28,866		50,531
Total	W	187,108		173,626

(*1) The derivatives, which are not designated as hedging instruments, arise from cross currency interest swap contracts and others for the purpose of managing currency and interest rate risks associated with foreign currency denominated borrowings and bonds.

(*2) The derivatives, which are designated as hedging instruments, arise from forward exchange contracts for the purpose of managing currency risk associated with advances received in foreign currency.

53

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

7. Inventories

Inventories as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)
	June 30, 2024		December 31, 2023
Finished goods	W	942,590		750,775
Work-in-process		1,409,050		1,145,606
Raw materials		532,191		457,356
Supplies		197,961		173,991
Total	W	3,081,792		2,527,728

For the six-month periods ended June 30, 2024 and 2023, the amount of inventories recognized as cost of sales and loss on valuation of inventories are as follows:

(In millions of won)	2024		2023
Cost of sales	W	11,129,683		9,705,683
Inventories recognized as cost of sales		11,096,028		9,711,808
Loss on valuation of inventories		33,655		(6,125	)

54

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

8. Investments in Associates

Details of investment in associates as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)
Associates	Location	Closing	Date of incorporation	Business	June 30, 2024					December 31, 2023
					Percentage of ownership			Carrying amount		Percentage of ownership			Carrying amount
Paju Electric Glass Co., Ltd.	Paju, South Korea	December	January 2005	Production of glass for display		40	%	W	25,866		40	%	W	24,200
WooRee E&L Co., Ltd.	Ansan, South Korea	December	June 2008	Production of LED back light unit packages		13	%		7,611		13	%		7,106
YAS Co., Ltd.	Paju, South Korea	December	April 2002	Development and production of deposition equipment for OLEDs		16	%		28,532		16	%		28,564
AVATEC Co., Ltd.	Daegu, South Korea	December	August 2000	Processing and sales of glass for display		14	%		21,855		14	%		20,871
Arctic Sentinel, Inc.	Los Angeles, U.S.A.	March	June 2008	Development and production of tablet for kids		10	%		—		10	%		—
Cynora GmbH	Bruchsal, Germany	December	March 2003	Development organic light emitting materials for displays and lighting devices		10	%		—		10	%		—
Material Science Co., Ltd.(*)	Seoul, South Korea	December	January 2014	Development, production, and sales of materials for display		15	%		3,158		16	%		3,588
Total								W	87,022				W	84,329

55

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

8. Investments in Associates, Continued

(*) For the six-month period ended June 30, 2024, due to the investee’s disposal of treasury shares, the Parent Company’s percentage of ownership decreased from 16% to 15%.

Although the Parent Company’s respective share interests in WooRee E&L Co., Ltd., YAS Co., Ltd., AVATEC Co., Ltd., Arctic Sentinel, Inc., Cynora GmbH and Material Science Co., Ltd. are below 20%, the Parent Company is able to exercise significant influence through its right to appoint one or more directors to the board of directors of each investee. Accordingly, the investments in these investees have been accounted for using the equity method.

Dividend income recognized from associates for the six-month periods ended June 30, 2024 and 2023 amounted to W200 million and W15,200 million, respectively.

56

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

9. Property, Plant and Equipment

(a) Changes in property, plant and equipment for the six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)
	2024			2023
Book value as of January 1	W	20,200,332			20,946,933
Acquisitions		920,468			1,994,148
Depreciation		(2,307,877	)		(1,737,250	)
Disposals		(161,907	)		(404,973	)
Impairment loss (*)		(72,531	)		(55,425	)
Others		(1,066	)		(1,389	)
Government grants received		(2,307	)		(4,863	)
Effect of changes in exchange rates		428,087			99,460
Book value as of June 30	W	19,003,199			20,836,641

(*) Impairment losses are recognized for the difference between the carrying amount and the recoverable amount of property, plant and equipment.

(b) The capitalized borrowing costs and the annualized capitalization rates were W33,664 million and 5.73%, and W154,906 million and 5.06%, for the six-month periods ended June 30, 2024 and 2023, respectively.

10. Intangible Assets

The Group capitalizes expenditures related to development activities, such as expenditures incurred on designing, manufacturing and testing of products after those related activities meet the capitalization criteria of development costs including technical feasibility, future economic benefits and others. The balances of capitalized development costs as of June 30, 2024 and December 31, 2023 are W720,004 million and W 641,461 million, respectively. For the six-month periods ended June 30, 2024 and 2023, the Group recognized impairment losses amounting to W45,019 million and W20,322 million, respectively, in connection with development projects.

57

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

11. Investment Property

(a) Changes in investment properties for the six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)
	2024			2023
At January 1	W	32,995			28,269
Depreciation		(2,541	)		(2,419	)
Others		—			(228	)
At June 30	W	30,454			25,622

(b) For the six-month period ended June 30, 2024, rental income from investment property is W4,024 million (rental income from investment property for the six-month period ended June 30, 2023: W1,941 million) and rental cost is W2,541 million (rental cost for the six-month period ended June 30, 2023: W2,419 million).

58

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

12. Financial Liabilities

(a) Financial liabilities as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)
	June 30, 2024		December 31, 2023
Current
Short-term borrowings	W	1,205,144		1,875,635
Current portion of long-term borrowings		3,833,172		2,934,693
Current portion of bonds		901,354		369,716
Derivatives (*1)		2,770		26,193
Fair value hedging derivatives (*2)		—		7,392
Lease liabilities		39,735		48,666
Total	W	5,982,175		5,262,295
Non-current
Long-term borrowings	W	9,702,114		10,230,658
Bonds		517,588		1,118,427
Derivatives (*1)		8,833		37,333
Fair value hedging derivatives (*2)		—		28,660
Lease liabilities		23,880		24,698
Total	W	10,252,415		11,439,776

(*1) The derivatives, which are not designated as hedging instruments, arise from cross currency interest swap contracts and others for the purpose of managing currency and interest rate risks associated with foreign currency denominated borrowings and bonds.

(*2) The derivatives, which are designated as hedging instruments, arise from forward exchange contracts for the purpose of managing currency risk associated with advances received in foreign currency.

(b) Details of short-term borrowings as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)
Lender	Description	Annual interest rate as of June 30, 2024 (%)	June 30, 2024	December 31, 2023
Standard Chartered Bank Korea Limited and others	Working capital and others	3.50 ~ 6.98	W1,205,144	1,875,635

59

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

12. Financial Liabilities, Continued

(c) Details of Korean won denominated long-term borrowings as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)
Lender	Description		Maturity	Annual interest rate as of June 30, 2024 (%)		June 30, 2024			December 31, 2023
LG Electronics Inc.		Operating capital	March 2026		6.06	W	1,000,000			1,000,000
Korea Development Bank and others		Facility capital and others	November 2024 ~ March 2030		2.41 ~ 6.18		3,874,715			3,490,967
Less: current portion of long-term borrowings							(1,631,000	)		(776,000	)
Total						W	3,243,715			3,714,967

(d) Details of foreign currency denominated long-term borrowings as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won, USD and CNY)
Lender	Description		Maturity	Annual interest rate as of June 30, 2024 (%)		June 30, 2024			December 31, 2023
KEB Hana Bank and others		Facility capital and others	July 2024 ~ July 2029		2.46 ~ 8.60	W	8,660,571			8,674,384
Foreign currency equivalent of foreign currency borrowings							USD 2,670			USD 3,222
							CNY 25,999			CNY 24,991
Less: current portion of long-term borrowings							(2,202,172	)		(2,158,693	)
Total						W	6,458,399			6,515,691

60

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

12. Financial Liabilities, Continued

(e) Details of bonds issued and outstanding as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won and USD)
	Maturity		Annual interest rate as of June 30, 2024 (%)		June 30, 2024			December 31, 2023
Korean won denominated bonds at amortized cost (*1)
Publicly issued bonds		September 2024 ~ February 2027		2.29 ~ 3.66	W	945,000			1,025,000
Privately issued bonds		January 2025 ~ January 2026		7.20 ~ 7.25		337,000			337,000
Less: discount on bonds						(1,394	)		(2,120	)
Less: current portion						(901,354	)		(369,716	)
Subtotal					W	379,252			990,164
Foreign currency denominated bonds at amortized cost (*2)
Privately issued bonds		April 2026		7.22	W	138,920			128,940
Foreign currency equivalent of foreign currency denominated bonds						USD 100			USD 100
Less: discount on bonds						(584	)		(677	)
Less: foreign currency equivalent of discount on bonds of foreign currency denominated bonds						USD (0	)		USD (1	)
Subtotal					W	138,336			128,263
Total					W	517,588			1,118,427

(*1) Principal of the won denominated bonds is to be repaid at maturity and interests are paid quarterly.

(*2) Principal of the foreign currency denominated bonds is to be repaid at maturity and interests are paid quarterly.

61

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

13. Post-employment Benefits

The Parent Company and certain subsidiaries’ defined benefit plans provide a lump-sum payment to an employee based on final salary rates and length of service at the time the employee leaves the Parent Company or certain subsidiaries.

(a) Net defined benefit liabilities (defined benefit assets) recognized as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)
	June 30, 2024			December 31, 2023
Present value of defined benefit obligations	W	1,437,420			1,491,146
Fair value of plan assets		(1,778,672	)		(1,897,025	)
Total	W	(341,252	)		(405,879	)
Defined benefit liabilities, net	W	1,363			1,559
Defined benefit assets, net	W	(342,615	)		(407,438	)

(b) Plan assets as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)
	June 30, 2024		December 31, 2023
Time deposits in banks	W	1,778,672		1,897,025

As of June 30, 2024, the Group maintains the plan assets primarily with Shinhan Bank , KEB Hana Bank and others.

(c) Expenses related to defined benefit plans recognized in profit or loss for the three-month and six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)	For the three-month periods ended June 30						For the six-month periods ended June 30
	2024			2023			2024			2023
Current service cost	W	38,603			43,469			77,225			86,953
Net interest cost		(4,713	)		(5,986	)		(9,427	)		(11,972	)
Total	W	33,890			37,483			67,798			74,981

(d) Remeasurements of the net defined benefit liabilities (assets) included in other comprehensive income (loss) for the three-month and six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)	For the three-month periods ended June 30						For the six-month periods ended June 30
	2024			2023			2024			2023
Remeasurements of net defined benefit liabilities	W	(1,919	)		(310	)		(5,539	)		(1,012	)
Tax effect		439			72			1,270			229
Remeasurements of net defined benefit liabilities, net of income tax	W	(1,480	)		(238	)		(4,269	)		(783	)

62

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

14. Provisions

Changes in provisions for the six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)
	Litigation		Warranties (*)			Others			Total
At January 1, 2024	W	1,806		173,795			5,880			181,481
Additions (reversal)		126		41,744			(1,033	)		40,837
Usage		—		(68,429	)		—			(68,429	)
At June 30, 2024	W	1,932		147,110			4,847			153,889
Current	W	1,932		91,687			4,847			98,466
Non-current	W	—		55,423			—			55,423

(*) The Group provides warranty on defective products for warranty periods after sales. The provision is calculated based on the assumption of expected number of warranty claims and costs per claim considering historical experience.

(In millions of won)
	Litigation		Warranties (*)			Others			Total
At January 1, 2023	W	1,680		249,368			8,431			259,479
Additions (reversal)		141		52,577			(2,731	)		49,987
Usage		—		(97,972	)		—			(97,972	)
At June 30, 2023	W	1,821		203,973			5,700			211,494
Current	W	1,821		133,931			5,700			141,452
Non-current	W	—		70,042			—			70,042

(*) The Group provides warranty on defective products for warranty periods after sales. The provision is calculated based on the assumption of expected number of warranty claims and costs per claim considering historical experience.

63

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

15. Contingent Liabilities and Commitments

(a) Legal Proceedings

Anti-trust litigations

The Group and other LCD panel manufacturers have been sued by individual claimants on allegations of violating EU competition laws. While the Group continues its vigorous defense of the various pending proceedings described above, as of June 30, 2024, the Group cannot predict the final outcomes of the lawsuits that have been filed.

Others

The Group is involved in various lawsuits and disputes in addition to pending proceedings described above. The Group cannot reliably estimate the timing and amount of outflows of resources embodying economic benefits relating to the disputes.

(b) Commitments

Factoring and securitization of accounts receivable

The Parent Company has discount agreements with Korea Development Bank and other banks for accounts receivable related to export sales transactions with its subsidiary, up to USD 1,000 million (W 1,389,200 million). As of June 30, 2024, there is no discounted accounts receivable that are not past due in connection with these agreements. In relation to the above agreements, the financial institutions have the recourse for account receivables that are past due.

The Parent Company has assignment agreements with Standard Chartered Bank and other banks for accounts receivable related to domestic and export sales transactions, up to W4,299,574 million. As of June 30, 2024, the amount of the sold accounts receivable that are not past due in connection with these agreements is W547,175 million. In relation to the above agreements, the financial institutions do not have the recourse for account receivables that are past due.

64

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

15. Contingent Liabilities and Commitments, Continued

Letters of credit

The Group has entered into agreements with a financial institutions to open letter of credit (L/C), etc., and as of June 30, 2024, the credit limits for each agreement are as follows:

(In millions of won and USD)
	Contractual amount		KRW equivalent
KEB Hana Bank		USD 450	W	625,140
Industrial Bank of Korea		USD 450		625,140
Industrial and Commercial Bank of China		USD 200		277,840
Shinhan Bank		USD 100		138,920
KB Kookmin Bank		USD 700		972,440
MUFG Bank		USD 100		138,920
Sumitomo Mitsui Banking Corporation		USD 200		277,840
The Export–Import Bank of Korea		USD 100		138,920
Total		USD 2,300		3,195,160

Payment guarantees

The Parent Company obtained payment guarantees amounting of USD 1,200 million (W1,667,040 million) from KB Kookmin Bank and other banks for advances received related to the long-term supply agreements.

LG Display (China) Co., Ltd. and other subsidiaries have entered into agreements with China Construction Bank Corporation and other banks to receive guarantees up to CNY 850 million (W161,866 million), JPY 900 million (W7,779 million), VND 73,279 million (W4,001 million), and USD 0.2 million (W256 million) for the payment of consumption tax, import value-added tax, customs duties, and electricity charges.

Patent and License agreements

As of June 30, 2024, the Group has patent license agreements with Hitachi Display, Ltd. and others in relation to its LCD business and patent license agreements with Universal Display Corporation and others in relation to its OLED business. Also, as of June 30, 2024, the Group has a trademark license agreement with LG Corp. and other license agreements with other companies for patents, trademarks and other intellectual property rights.

65

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

15. Contingent Liabilities and Commitments, Continued

Long-term Supply Agreement

As of June 30, 2024, in connection with long-term supply agreements with customers, the Parent Company recognized advances received of USD 1,050 million (W1,458,660 million). The advances received will be used to offset against accounts receivable arising from future product sales after a certain period of time from the date of receipt. In relation to this, the Parent Company received payment guarantees of USD 1,200 million (W1,667,040 million) from KB Kookmin Bank and other banks (see note 15(b) payment guarantees).

Collateral

The details of collateral provided by the Group are as follows:

(In millions of won and CNY)
Collateral	Carrying amount		Maximum bond amount		Secured creditor	Collateral borrowings amount
Property, plant and equipment and others	W	472,408		1,200,000	LG Electronics Inc.		1,000,000
Property, plant and equipment and others		75,004		326,400	Korea Development Bank and others		204,000
Property, plant and equipment and others (*)		246,974		780,000	Korea Development Bank and others		520,000
Property, plant and equipment and others		726,495		—	China Construction Bank Corporation and others		CNY 7,830
Deposits in Banks and others		CNY 1,820		346,626	Shinhan Bank and others		300,000

(*) The carrying amount of collateral asset, amounting to W246,974 million, includes collateral asset of W75,004 million for collateral borrowings of W204,000 million from Korea Development Bank and other banks.

Commitments for asset acquisition

The amount committed to acquire property, plant, equipment and intangible assets not recognized on the financial statements as of June 30, 2024 is W647,698 million.

66

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

16. Share Capital, Share Premium and Reserves

(a) Share capital and Share premium

The total number of shares to be issued by the Parent Company is 500,000,000 shares, the number of shares issued is 500,000,000 shares (December 31, 2023: 357,815,700 shares), and the par value per share is W5,000.

The Parent Company conducted a paid-in capital increase based on the resolution of the board of directors on December 18, 2023, and the newly issued shares were listed on the Korea Exchange (KRX) on March 26, 2024.

With the new shares of common stock, the share capital increased by W710,921 million to W2,500,000 million.

Classification	Description
Purpose	Facility capital, operating capital and debt repayment
Type of shares issued	Common stock
Number of shares issued	142,184,300 shares
The amount per shares	W9,090

The Group’s capital surplus consists of share premium and due to the capital increase during the six-month period ended June 30, 2024, the share premium increased by W569,893 million to W2,821,006 million.

(b) Reserves

Reserves consist mainly of the following:

Translation reserve

The translation reserve comprises all foreign currency differences arising from the translation of the financial statements of overseas subsidiaries and others.

Other comprehensive loss from associates

The other comprehensive loss from associates comprises the amount related to change in equity of investments in equity accounted investees.

Reserves as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)
	June 30, 2024			December 31, 2023
Foreign currency translation differences for overseas subsidiaries and others	W	962,808			548,792
Other comprehensive loss from associates		(32,884	)		(32,816	)
Total	W	929,924			515,976

67

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

17. Revenue

Details of revenue for the three-month and six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)
	For the three-month periods ended June 30				For the six-month periods ended June 30
	2024		2023		2024		2023
Sales of goods	W	6,673,609		4,722,217		11,908,545		9,120,535
Royalties		10,670		4,408		14,252		9,355
Others		23,920		11,946		38,377		19,737
Total	W	6,708,199		4,738,571		11,961,174		9,149,627

18. Information about geographical areas and products

Details of information of geographical areas and products for the three-month and six-month periods ended June 30, 2024 and 2023 are as follows:

(a) Revenue by geography (Customer based)

(In millions of won)
	For the three-month periods ended June 30				For the six-month periods ended June 30
Region	2024		2023		2024		2023
Domestic	W	264,528		163,935		518,733		296,298
Foreign
China		4,493,015		2,935,368		8,056,729		5,900,566
Asia (excluding China)		977,624		703,091		1,585,687		1,231,764
North America		551,920		549,912		1,028,870		996,010
Europe		421,112		386,265		771,155		724,989
Subtotal	W	6,443,671		4,574,636		11,442,441		8,853,329
Total	W	6,708,199		4,738,571		11,961,174		9,149,627

Revenue to customer A and customer B amount to W6,146,621 million and W1,629,172 million, respectively, for the six-month period ended June 30, 2024 (the six-month period ended June 30, 2023: W4,436,067 million and W1,697,681 million, respectively). The Group’s top ten customers together accounted for 88% of revenue for the six-month period ended June 30, 2024 (the six-month period ended June 30, 2023: 87%).

68

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

18. Information about geographical areas and products, Continued

(b) Non-current assets by geography

(In millions of won)
Region	June 30, 2024						December 31, 2023
	Property, plant and equipment		Intangible assets		Investment Property		Property, plant and equipment		Intangible assets		Investment Property
Domestic	W	12,597,452		1,676,828		30,454		13,583,136		1,683,116		32,995
Foreign
China		3,087,896		24,022		—		3,358,395		32,009		—
Vietnam		3,306,094		37,215		—		3,244,729		31,472		—
Others		11,757		21,445		—		14,072		27,358		—
Subtotal	W	6,405,747		82,682		—		6,617,196		90,839		—
Total	W	19,003,199		1,759,510		30,454		20,200,332		1,773,955		32,995

(c) Revenue by products and services

(In millions of won)
	For the three-month periods ended June 30				For the six-month periods ended June 30
	2024		2023		2024		2023
TV	W	1,586,762		1,103,802		2,711,554		1,928,919
IT		2,931,272		1,973,717		5,058,911		3,668,607
Mobile and others (*)		1,595,803		1,157,344		3,082,861		2,553,351
AUTO		594,362		503,708		1,107,848		998,750
Total	W	6,708,199		4,738,571		11,961,174		9,149,627

(*) This includes royalties and other revenue.

The proportion of revenue from OLED products to total revenue disclosed above was 50% and 43% for the six-month periods ended June 30, 2024 and 2023, respectively.

69

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

19. The Nature of Expenses

The classification of expenses by nature for the three-month and six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)
	For the three-month periods ended June 30				For the six-month periods ended June 30
	2024		2023		2024			2023
Changes in inventories	W	287,535		129,003		(554,064	)		191,335
Purchases of raw materials and others		2,928,360		2,423,746		6,055,023			4,808,511
Depreciation and amortization		1,380,508		1,011,194		2,659,685			2,029,390
Outsourcing		291,699		213,879		555,431			410,227
Labor		877,917		860,376		1,768,429			1,723,735
Supplies and others		226,760		219,172		447,324			436,058
Utility		330,468		279,224		660,335			563,412
Fees and commissions		175,691		165,283		343,294			343,429
Shipping		39,144		29,388		75,081			59,308
Advertising		16,478		17,732		30,765			35,404
Warranty		32,826		33,995		41,744			52,577
Travel		12,405		15,566		27,984			29,345
Taxes and dues		34,213		33,426		70,744			64,473
Others		204,208		294,198		520,911			527,864
Total	W	6,838,212		5,726,182		12,702,686			11,275,068

Total expenses consist of cost of sales, selling, administrative, research and development expenses and other non-operating expenses, excluding foreign exchange differences.

70

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

20. Selling and Administrative Expenses

Details of selling and administrative expenses for the three-month and six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)
	For the three-month periods ended June 30				For the six-month periods ended June 30
	2024		2023		2024		2023
Salaries	W	86,636		91,977		179,300		186,023
Expenses related to defined benefit plans		5,925		6,299		11,712		12,564
Other employee benefits		21,304		21,674		42,903		44,088
Shipping		25,276		21,315		48,039		42,275
Fees and commissions		57,542		59,614		117,115		123,500
Depreciation and amortization		70,523		68,874		138,203		134,440
Taxes and dues		15,980		18,112		33,342		32,985
Advertising		16,478		17,732		30,765		35,404
Warranty		32,826		33,995		41,744		52,577
Insurance		3,722		3,288		7,078		6,889
Travel		2,978		4,113		7,050		9,095
Training		2,216		2,078		6,189		5,961
Others		21,992		19,821		47,531		45,110
Total	W	363,398		368,892		710,971		730,911

71

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

21. Other Non-operating Income and Other Non-operating Expenses

(a) Details of other non-operating income for the three-month and six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)
	For the three-month periods ended June 30					For the six-month periods ended June 30
	2024		2023			2024			2023
Foreign currency gain	W	328,295		438,397			740,365			804,074
Gain on disposal of property, plant and equipment		38,570		8,275			44,199			23,798
Reversal of impairment loss on property, plant and equipment		3,697		—			3,697			7
Gain on disposal of intangible assets		25		470			25			470
Reversal of impairment loss on intangible assets		14		—			14			122
Rental income		477		681			981			1,244
Others		597		4,446			14,282			5,904
Total	W	371,675		452,269			803,563			835,619

(b) Details of other non-operating expenses for the three-month and six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)
	For the three-month periods ended June 30				For the six-month periods ended June 30
	2024		2023		2024		2023
Foreign currency loss	W	435,621		363,706		1,041,699		929,952
Loss on disposal of property, plant and equipment		23,707		21,655		40,498		54,697
Impairment loss on property, plant and equipment		6,610		51,542		76,228		55,432
Loss on disposal of intangible assets		157		51		350		55
Impairment loss on intangible assets		—		19,373		49,996		21,802
Others		5,866		13,520		11,335		13,627
Total	W	471,961		469,847		1,220,106		1,075,565

72

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

22. Finance Income and Finance Costs

Finance income and costs recognized in profit or loss for the three-month and six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)
	For the three-month periods ended June 30				For the six-month periods ended June 30
	2024		2023		2024		2023
Finance income
Interest income	W	23,172		40,562		44,479		66,555
Foreign currency gain		50,953		237,682		86,892		425,265
Gain on transaction of derivatives		98,047		56,165		183,219		85,090
Gain on valuation of derivatives		5,257		—		65,041		266,460
Others		22		38		22		48
Total	W	177,451		334,447		379,653		843,418
Finance costs
Interest expense	W	238,051		165,999		456,437		309,290
Foreign currency loss		170,690		130,210		344,840		417,591
Loss on sale of trade accounts and notes receivable		5,037		2,243		16,899		14,504
Loss on valuation of derivatives		1,375		8,456		2,082		220,018
Loss on valuation of financial assets at fair value through profit or loss		—		2,596		—		10,372
Others		2,409		2,657		5,012		2,903
Total	W	417,562		312,161		825,270		974,678

73

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

23. Income Tax Benefit (Expense)

(a) Details of income tax benefit (expense) for the three-month and six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)	For the three-month periods ended June 30						For the six-month periods ended June 30
	2024			2023			2024			2023
Current tax expense	W	55,386			138,071			92,396			222,435
Deferred tax benefit		(17,217	)		(316,431	)		(282,299	)		(722,534	)
Income tax benefit (expense)	W	38,169			(178,360	)		(189,903	)		(500,099	)

(b) Deferred tax assets and liabilities

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced when sufficient estimated future taxable income of the Group is not probable to realize part or all of that deferred tax assets. The Group’s deferred tax assets and liabilities may differ from actual refundable or payable amount.

Deferred tax assets and liabilities as of June 30, 2024 and December 31, 2023 are attributable to the following:

(In millions of won)	Assets				Liabilities						Total
	June 30, 2024		December, 31, 2023		June 30, 2024			December, 31, 2023			June 30, 2024			December, 31, 2023
Other accounts receivable, net	W	—		—		(22	)		(61	)		(22	)		(61	)
Inventories, net		59,099		51,728		—			—			59,099			51,728
Defined benefits assets, etc		466		—		(74,195	)		(89,753	)		(73,729	)		(89,753	)
Subsidiaries and associates		89,033		—		(161,114	)		(89,649	)		(72,081	)		(89,649	)
Accrued expenses		86,496		97,867		—			—			86,496			97,867
Property, plant and equipment		578,188		609,345		(51,045	)		(43,282	)		527,143			566,063
Intangible assets		34,749		13,314		(1,143	)		(2,069	)		33,606			11,245
Provisions		33,645		39,586		—			—			33,645			39,586
Other temporary differences		67,455		70,182		(8,693	)		(11,451	)		58,762			58,731
Tax losses carryforwards		3,020,084		2,766,820		—			—			3,020,084			2,766,820
Tax credit carryforwards		153,555		148,215		—			—			153,555			148,215
Deferred tax assets (liabilities)	W	4,122,770		3,797,057		(296,212	)		(236,265	)		3,826,558			3,560,792

(c) Global Minimum Tax

Under Pillar Two legislation, the Group is liable to pay a top-up tax for the difference between the GloBE effective tax rate per jurisdiction and the 15% minimum rate. The Group has assessed its impact of the Pillar Two legislation on its financial statements. As a result of the assessment, the Group has no current tax expenses related to Pillar Two legislation for the six-month period ended June 30, 2024.

74

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

24. Loss Per Share

(a) Basic loss per share for the three-month and six-month periods ended June 30, 2024 and 2023 are as follows:

(In won and number of shares)	For the three-month periods ended June 30						For the six-month periods ended June 30
	2024			2023			2024			2023
Loss for the period	W	(506,527,094,145	)		(858,124,896,259	)		(1,289,683,653,408	)		(2,071,902,394,359	)
Weighted-average number of common shares outstanding		500,000,000			380,884,673			442,188,801			380,884,673
Basic loss per share	W	(1,013	)		(2,253	)		(2,917	)		(5,440	)

Due to paid-in capital increase during the three-month period ended March 31, 2024, the number of outstanding shares has increased. The weighted-average number of common shares outstanding for previous period has been adjusted considering a bonus element in a rights issue to existing shareholders during the three-month period ended March 31, 2024.

(b) Diluted loss per share

The Group has no potential dilutive ordinary shares, and accordingly, basic loss per share is identical to diluted loss per share.

75

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

25. Financial Risk Management

The Group is exposed to credit risk, liquidity risk and market risk. The Group identifies and analyzes such risks, and controls are implemented under a risk management system to monitor and manage these risks at below an acceptable level.

(a) Market risk

Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and equity prices, will affect the Group’s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimizing the return.

(i) Currency risk

The Group is exposed to currency risk on sales, purchases and borrowings that are denominated in a currency other than the functional currency of the Parent Company, Korean won (KRW). The currencies in which these transactions primarily are denominated are USD, CNY, JPY, etc.

Interest on borrowings is accrued in the currency of the borrowing. Generally, borrowings are denominated in currencies that match the cash flows generated by the underlying operations of the Group, primarily KRW, USD and CNY.

The Group adopts policies to ensure that its net exposure is kept to a manageable level by buying or selling foreign currencies at spot rates when necessary to address short-term imbalances. In respect of monetary assets and liabilities denominated in foreign currencies, the Group manages currency risk through continuously managing the position of foreign currencies, measuring the currency risk and, if necessary, using derivatives such as currency forwards, currency swap and others.

76

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

25. Financial Risk Management, Continued

i) Exposure to currency risk

The Group’s exposure to primarily foreign currency risk based on notional amounts as of June 30, 2024 and December 31, 2023 is as follows:

(In millions)	Net exposure
	June 30, 2024			December 31, 2023
USD		(496	)		(859	)
JPY		(17,149	)		(23,398	)
CNY		(24,660	)		(19,043	)
VND		(656,529	)		(1,796,335	)

Net exposure is the difference between foreign currency assets and liabilities and it includes derivatives assets and liabilities from cross currency interest rate swap contracts and forward exchange contracts.

Cross currency interest rate swap contracts, USD 400 million (2023: USD 500 million) and CNY 726 million (2023: CNY 345 million) were entered into to manage currency risk with respect to foreign currency denominated borrowings and USD 1,205 million (2023: USD 1,430 million) were entered into to manage currency risk and interest rate risk with respect to foreign currency denominated borrowings and bonds.

Forward exchange contracts, USD 1,050 million (2023: USD 1,200 million) were entered into to manage currency risk with respect to advances received in foreign currency.

77

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

25. Financial Risk Management, Continued

i) Exposure to currency risk, Continued

Average exchange rates applied for the six-month periods ended June 30, 2024 and 2023 and the exchange rates at June 30, 2024 and December 31, 2023 are as follows:

(In won)	Average rate				Reporting date spot rate
	2024		2023		June 30, 2024		December 31, 2023
USD	W	1,349.50		1,295.29		1,389.20		1,289.40
JPY		8.88		9.62		8.64		9.13
CNY		186.72		186.87		190.43		180.84
VND		0.0541		0.0551		0.0546		0.0532

78

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

25. Financial Risk Management, Continued

ii) Sensitivity analysis

A weaker won, as indicated below, against the following currencies which comprise the Group’s assets or liabilities denominated in a foreign currency as of June 30, 2024 and December 31, 2023, would have increased (decreased) equity and profit or loss by the amounts shown below. This analysis is based on foreign currency exchange rate variances that the Group considers to be reasonably possible at the end of the reporting period. The analysis assumes that all other variables, in particular interest rates, would remain constant. The changes in equity and profit or loss would have been as follows:

(In millions of won)	June 30, 2024						December 31, 2023
	Equity			Profit or loss			Equity			Profit or loss
USD (5 percent weakening)	W	(28,235	)		(20,919	)		(68,615	)		44,361
JPY (5 percent weakening)		(5,717	)		(5,698	)		(8,160	)		(8,480	)
CNY (5 percent weakening)		(234,797	)		(3	)		(172,198	)		(2	)
VND (5 percent weakening)		(1,382	)		(1,382	)		(3,683	)		(3,683	)

A stronger won against the above currencies as of June 30, 2024 and December 31, 2023 would have had the equal but opposite effect on the above currencies to the amounts shown above, on the basis that all other variables remain constant.

iii) Fair value hedging derivatives

In relation to advances received that are denominated in foreign currency, the Parent Company uses derivative instruments to hedge change of fair value due to foreign currency exchange rate changes. As of June 30, 2024, there is no ineffective portion of the gain or loss on valuation of derivatives to which change of fair value hedging accounting has been applied and gain on valuation amounting to W110,267 million, respectively, (contracted buying amount: USD 1,050 million, contracted exchange rate: W1,289.11 ~ 1,310.08) are recognized in profit or loss.

(ii) Interest rate risk

Interest rate risk arises principally from the Group’s variable interest-bearing bonds and borrowings. The Group establishes and applies its policy to reduce uncertainty arising from fluctuations in interest rates and to minimize finance cost and manages interest rate risk by monitoring of trends of fluctuations in interest rate and establishing plan for countermeasures. Meanwhile, the Group entered into cross currency interest rate swap contracts amounting to USD 1,205 million (W1,673,986 million) and interest rate swap contracts amounting to W960,000 million in notional amount to manage interest rate risk with respect to variable interest bearing borrowings.

79

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

25. Financial Risk Management, Continued

i) Profile

The interest rate profile of the Group’s interest-bearing financial instruments as of June 30, 2024 and December 31, 2023 is as follows:

(In millions of won)
	June 30, 2024			December 31, 2023
Fixed rate instruments
Financial assets	W	2,341,775			3,163,490
Financial liabilities		(5,605,897	)		(6,333,238	)
Total	W	(3,264,122	)		(3,169,748	)
Variable rate instruments
Financial liabilities	W	(10,553,475	)		(10,195,891	)

ii) Equity and profit or loss sensitivity analysis for variable rate instruments

As of June 30, 2024 and December 31, 2023, a change of 100 basis points in interest rates at the reporting date would have increased (decreased) equity and profit or loss by the amounts shown below for the respective following 12 month periods. This analysis assumes that all other variables, in particular foreign currency rates, remain constant.

(In millions of won)	Equity					Profit or loss
	1%p increase			1%p decrease		1%p increase			1%p decrease
June 30, 2024
Variable rate instruments (*)	W	(81,346	)		81,346		(81,346	)		81,346
December 31, 2023
Variable rate instruments (*)	W	(78,590	)		78,590		(78,590	)		78,590

(*) Financial instruments related to non-hedging interest rate swap are included in the calculation.

80

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

25. Financial Risk Management, Continued

(b) Credit risk

Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Group’s receivables from customers.

The Group’s exposure to credit risk of trade and other receivables is influenced mainly by the individual characteristics of each customer. However, management believes that the default risk of the country in which each customer operates, do not have a significant influence on credit risk since the majority of the customers are global electronic appliance manufacturers operating in global markets.

The Group establishes credit limits for each customer and each new customer is analyzed quantitatively and qualitatively before determining whether to utilize third party guarantees, insurance or factoring as appropriate.

In relation to the impairment of financial assets subsequent to initial recognition, the Group recognizes the changes in expected credit loss (“ECL”) in profit or loss at each reporting date.

The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)
	June 30, 2024		December 31, 2023
Financial assets at amortized cost
Cash equivalents	W	1,974,149		2,257,519
Deposits in banks		367,637		905,982
Trade accounts and notes receivable, net		3,663,259		3,218,093
Non-trade receivables		146,398		112,739
Accrued income		17,184		14,246
Deposits		18,062		18,378
Loans		50,604		59,884
Subtotal		6,237,293		6,586,841
Other financial assets
Lease receivables	W	627		4,130
Subtotal		627		4,130
Financial assets at fair value through profit or loss
Convertible securities	W	3,227		3,127
Derivatives		180,740		169,703
Subtotal	W	183,967		172,830
Financial assets effective for fair value hedging
Derivatives	W	74,216		—
Subtotal		74,216		—
Total	W	6,496,103		6,763,801

Trade accounts and notes receivable are insured in order for the Group to manage credit risk if they do not meet the Group’s internal credit ratings. Uninsured trade accounts and notes receivable are managed by continuous monitoring of internal credit rating standards established by the Group and seeking insurance coverage, if necessary.

81

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

25. Financial Risk Management, Continued

(c) Liquidity risk

Liquidity risk is the risk that the Group will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or other financial assets. The Group’s approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Group’s reputation.

The Group has historically been able to satisfy its cash requirements from cash flows from operations and debt and equity financing. To the extent that the Group does not generate sufficient cash flows from operations to meet its capital requirements, the Group may rely on other financing activities, such as long-term borrowings and offerings of debt instruments, equity-linked and other debt instruments. In addition, the Group maintains a line of credit with various banks.

The following are the contractual maturities of financial liabilities, including estimated interest payments, as of June 30, 2024.

(In millions of won)			Contractual cash flows in
	Carrying amount		Total			6 months or less			6-12 months			1-2 years			2-5 years			More than 5 years
Non-derivative financial liabilities
Borrowings	W	14,740,430		15,736,367			2,289,434			3,090,399			5,914,045			4,304,484			138,005
Bonds		1,418,942		1,497,827			319,330			631,767			206,837			339,893			—
Trade accounts and notes payable		4,432,364		4,432,364			4,154,853			277,511			—			—			—
Other accounts payable		1,623,893		1,627,045			1,534,490			92,555			—			—			—
Other accounts payable (enterprise procurement cards) (*)		657,694		657,694			153,281			504,413			—			—			—
Long-term other accounts payable		322,120		371,962			—			—			102,457			181,985			87,520
Security deposits received		155,543		188,358			2,730			322			2,830			182,476			—
Lease liabilities		63,615		67,053			27,263			13,701			12,518			11,839			1,732
Derivative financial liabilities
Derivatives	W	11,603		(15,025	)		(17,218	)		1,493			2,215			(1,515	)		—
Cash outflow		—		387,810			35,057			50,808			139,040			162,905			—
Cash inflow		—		(402,835	)		(52,275	)		(49,315	)		(136,825	)		(164,420	)		—
Total	W	23,426,204		24,563,645			8,464,163			4,612,161			6,240,902			5,019,162			227,257

(*) Represents liabilities payable to credit card companies for utility expenses and others paid using enterprise procurement cards. The Group presented the payable to credit card companies as other accounts payable and disclosed related cash flows as operating and investing activities since the Group is using the enterprise procurement cards through agreements with suppliers for transactions arising from purchasing of goods and services, the payment term is within a year from the purchase, as part of the normal operating cycle, and no collateral is provided.

82

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

25. Financial Risk Management, Continued

Change in liabilities related to procurement cards for the six-month period ended June 30, 2024 is as follows:

(In millions of won)
	January 1, 2024		Change			June 30, 2024
Other accounts payable (enterprise procurement cards)	W	1,092,180		(434,486	)		657,694

The following are the contractual maturities of financial liabilities, including estimated interest payments, as of December 31, 2023.

(In millions of won)			Contractual cash flows in
	Carrying amount		Total			6 months or less			6-12 months			1-2 years			2-5 years			More than 5 years
Non-derivative financial liabilities
Borrowings	W	15,040,986		16,309,036			3,534,173			1,900,982			6,231,118			4,397,095			245,668
Bonds		1,488,143		1,597,741			111,169			319,011			642,996			524,565			—
Trade accounts and notes payable		4,175,064		4,175,064			3,969,497			205,567			—			—			—
Other accounts payable		1,826,723		1,829,539			1,750,080			79,459			—			—			—
Other accounts payable (enterprise procurement cards) (*)		1,092,180		1,092,180			938,899			153,281			—			—			—
Long-term other accounts payable		357,907		413,255			—			—			129,587			175,358			108,310
Security deposits received		153,370		190,329			3,120			4,597			1,047			181,565			—
Lease liabilities		73,364		77,246			29,980			21,335			11,848			11,461			2,622
Derivative financial liabilities
Derivatives	W	63,526		45,705			18,781			3,988			12,474			10,462			—
Cash outflow		—		1,385,858			657,325			47,527			510,676			170,330			—
Cash inflow		—		(1,340,153	)		(638,544	)		(43,539	)		(498,202	)		(159,868	)		—
Fair value hedging derivatives		36,052		36,052			1,514			5,878			20,282			8,378			—
Total	W	24,307,315		25,766,147			10,357,213			2,694,098			7,049,352			5,308,884			356,600

(*) Represents liabilities payable to credit card companies for purchase of raw material and others paid using enterprise procurement cards. The Group presented the payable to credit card companies as other accounts payable and disclosed related cash flows as operating and investing activities since the Group is using the enterprise procurement cards through agreements with suppliers for transactions arising from purchasing of goods and services, the payment term is within a year from the purchase, as part of the normal operating cycle, and no collateral is provided.

83

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

25. Financial Risk Management, Continued

Change in liabilities related to procurement cards for the year ended December 31, 2023 is as follows:

(In millions of won)
	January 1, 2023		Change		December 31, 2023
Other accounts payable (enterprise procurement cards)	W	935,739		156,441		1,092,180

It is not expected that the cash flows included in the maturity analysis could occur significantly earlier, or at significantly different amounts.

(d) Capital management

Management’s policy is to maintain a capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business. Liabilities to equity ratio, net borrowings to equity ratio and other financial ratios are used by management to achieve an optimal capital structure. Management also monitors the return on capital as well as the level of dividends to ordinary shareholders.

(In millions of won)
	June 30, 2024			December 31, 2023
Total liabilities	W	25,894,203			26,988,754
Total equity		9,179,584			8,770,544
Cash and deposits in banks (*1)		2,341,775			3,163,493
Borrowings (including bonds)		16,159,372			16,529,129
Total liabilities to equity ratio		282	%		308	%
Net borrowings to equity ratio (*2)		151	%		152	%

(*1) Cash and deposits in banks consist of cash and cash equivalents and current deposits in banks.

(*2) Net borrowings to equity ratio is calculated by dividing total borrowings (including bonds and excluding lease liabilities and others) less cash and current deposits in banks by total equity.

84

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

25. Financial Risk Management, Continued

(e) Determination of fair value

(i) Measurement of fair value

A number of the Group’s accounting policies and disclosures require the determination of fair value, for both financial and non-financial assets and liabilities. Fair values have been determined for measurement and/or disclosure purposes based on the following methods. When applicable, further information about the assumptions made in determining fair values is disclosed in the notes specific to that asset or liability.

i) Current assets and liabilities

The carrying amounts approximate their fair value because of the short maturity of these instruments.

ii) Trade receivables and other receivables

The fair value of trade and other receivables is estimated as the present value of future cash flows, discounted at the market rate of interest at the reporting date. This fair value is determined for disclosure purposes. The carrying amounts of current receivables approximate their fair value.

iii) Investments in equity and debt securities

The fair value of marketable financial assets at FVTPL and FVOCI is determined by reference to their quoted closing bid price at the reporting date. The fair value of non-marketable instruments is determined using the results of fair value assessment performed by external valuation institutions and others.

iv) Non-derivative financial liabilities

Fair value, which is determined for disclosure purposes, except for the liabilities at FVTPL, is calculated based on the present value of future principal and interest cash flows, discounted at the market rate of interest at the reporting date.

v) Derivatives

The inputs used to measure the fair value of currency forward and cross currency interest rate swap are calculated based on the exchange rates and interest rates observable in the market at the reporting date.

85

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

25. Financial Risk Management, Continued

(ii) Fair values versus carrying amounts

The fair values of financial assets and liabilities, together with the carrying amounts shown in the condensed consolidated interim statements of financial position as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)	June 30, 2024				December 31, 2023
	Carrying amounts		Fair values		Carrying amounts		Fair values
Financial assets at amortized cost
Cash and cash equivalents	W	1,974,149		(*1)		2,257,522		(*1)
Deposits in banks		367,637		(*1)		905,982		(*1)
Trade accounts and notes receivable		3,663,259		(*1)		3,218,093		(*1)
Non-trade receivables		146,398		(*1)		112,739		(*1)
Accrued income		17,184		(*1)		14,246		(*1)
Deposits		18,062		(*1)		18,378		(*1)
Loans		50,604		(*1)		59,884		(*1)
Other financial assets
Lease receivables		627		(*1)		4,130		(*1)
Financial assets at fair value through profit or loss
Equity securities	W	96,450		96,450		87,027		87,027
Convertible securities		3,227		3,227		3,127		3,127
Derivatives		180,740		180,740		169,703		169,703
Financial assets effective for fair value hedging
Derivatives	W	74,216		74,216		—		—
Financial liabilities at fair value through profit or loss
Derivatives	W	11,603		11,603		63,526		63,526
Financial liabilities effective for fair value hedging
Derivatives	W	—		—		36,052		36,052
Financial liabilities at amortized cost
Borrowings	W	14,740,430		14,804,919		15,040,986		15,101,258
Bonds		1,418,942		1,421,845		1,488,143		1,479,725
Trade accounts and notes payable		4,432,364		(*1)		4,175,064		(*1)
Other accounts payable		2,603,707		(*1)		3,276,810		(*1)
Security deposits received		155,543		(*1)		153,370		(*1)
Other financial liabilities
Lease liabilities		63,615		(*2)		73,364		(*2)

(*1) Excluded from disclosures as the carrying amount approximates fair value.

(*2) Excluded from the fair value disclosures in accordance with Korean IFRS 1107 ‘Financial Instruments: Disclosures’.

86

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

25. Financial Risk Management, Continued

(iii) Fair values of financial assets and liabilities

i) Fair value hierarchy

Financial instruments carried at fair value are categorized into different levels in a fair value hierarchy based on the inputs used in the valuation techniques. The different levels have been defined as follows:

• Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities

• Level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly

• Level 3: inputs for the asset or liability that are not based on observable market data

ii) Valuation techniques and inputs for Assets and Liabilities measured by the fair value hierarchy

Fair value hierarchy classifications of the financial instruments that are measured at fair value as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)	June 30, 2024						Valuation technique	Input
Classification	Level 1		Level 2		Level 3
Financial assets at fair value through profit or loss
Equity securities	W	—		—		96,450	Discounted cash flow, etc.	Discount rate and Estimated cash flow, etc.
Convertible securities		—		—		3,227	Blended discount model and binominal option pricing model	Discount rate, stock price and volatility
Derivatives		—		180,740		—	Discounted cash flow	Discount rate and Exchange rate
Financial assets effective for fair value hedging
Derivatives		—		74,216		—	Discounted cash flow	Discount rate and Exchange rate
Financial liabilities at fair value through profit or loss
Derivatives	W	—		11,603		—	Discounted cash flow	Discount rate and Exchange rate

87

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

25. Financial Risk Management, Continued

(In millions of won)	December 31, 2023						Valuation technique	Input
Classification	Level 1		Level 2		Level 3
Financial assets at fair value through profit or loss
Equity securities	W	—		—		87,027	Discounted cash flow, etc.	Discount rate and Estimated cash flow, etc.
Convertible securities		—		—		3,127	Blended discount model and binominal option pricing model	Discount rate, stock price and volatility
Derivatives		—		169,703		—	Discounted cash flow	Discount rate and Exchange rate
Financial liabilities at fair value through profit or loss
Derivatives	W	—		63,526		—	Discounted cash flow	Discount rate and Exchange rate
Financial liabilities effective for fair value hedging
Derivatives	W	—		36,052		—	Discounted cash flow	Discount rate and Exchange rate

88

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

25. Financial Risk Management, Continued

iii) Financial instruments not measured at fair value but for which the fair value is disclosed

Fair value hierarchy classifications, valuation technique and inputs for fair value measurements of the financial instruments not measured at fair value but for which the fair value is disclosed as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)	June 30, 2024						Valuation technique	Input
Classification	Level 1		Level 2		Level 3
Liabilities
Borrowings	W	—		—		14,804,919	Discounted cash flow	Discount rate
Bonds		—		—		1,421,845	Discounted cash flow	Discount rate
(In millions of won)	December 31, 2023						Valuation technique	Input
Classification	Level 1		Level 2		Level 3
Liabilities
Borrowings	W	—		—		15,101,258	Discounted cash flow	Discount rate
Bonds		—		—		1,479,725	Discounted cash flow	Discount rate

89

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

25. Financial Risk Management, Continued

iv) The interest rates applied for determination of the above fair value as of June 30, 2024 and December 31, 2023 are as follows:

	June 30, 2024		December 31, 2023
Borrowings, bonds and others		3.96%~4.44%		4.60%~5.02%

v) There is no transfer between Level 1, Level 2 and Level 3 for the six-month periods ended June 30, 2024 and 2023, and the changes in financial assets classified as Level 3 of fair value measurements for the six-month periods ended June 30, 2024 and 2023 is as follows:

(In millions of won)
Classification	January 1, 2024		Acquisition		Disposal			Valuation		Changes in Foreign Exchange Rates		June 30, 2024
Equity securities	W	87,027		3,063		(128	)		—		6,488		96,450
Convertible securities		3,127		—		—			—		100		3,227

(In millions of won)
Classification	January 1, 2023		Acquisition		Disposal			Valuation			Changes in Foreign Exchange Rates			June 30, 2023
Equity securities	W	96,064		635		(498	)		(10,372	)		3,055			88,884
Convertible securities		1,797		1,329		—			—			(16	)		3,110

90

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

26. Cash Flow Information

(a) Cash flows from operating activities for the six-month periods ended June 30, 2024 and 2023

(In millions of won)
	2024			2023
Loss for the period	W	(1,232,074	)		(1,851,870	)
Adjustments for:
Income tax benefit (Note 23)	W	(189,903	)		(500,099	)
Depreciation and amortization (Note 19)		2,659,685			2,029,390
Gain on foreign currency translation		(208,878	)		(287,917	)
Loss on foreign currency translation		395,877			251,680
Expenses related to defined benefit plans (Note 13)		67,798			74,981
Gain on disposal of property, plant and equipment		(44,199	)		(23,798	)
Loss on disposal of property, plant and equipment		40,498			54,697
Impairment loss on property, plant and equipment		76,228			55,432
Reversal of impairment loss on property, plant and equipment		(3,697	)		(7	)
Gain on disposal of intangible assets		(25	)		(470	)
Loss on disposal of intangible assets		350			55
Impairment loss on intangible assets		49,996			21,802
Reversal of impairment loss on intangible assets		(14	)		(122	)
Expense on increase of provision		41,744			52,577
Finance income		(305,283	)		(433,050	)
Finance costs		744,913			672,957
Equity in loss (income) of equity method accounted investees, net		(3,288	)		935
Others		(6,404	)		(6,892	)
Changes in:
Trade accounts and notes receivable	W	(431,775	)		(928,760	)
Other accounts receivable		(38,321	)		68,495
Inventories		(476,962	)		202,109
Lease receivables		3,550			3,614
Other current assets		(42,674	)		54,747
Other non-current assets		(4,812	)		(6,437	)
Trade accounts and notes payable		94,658			318,405
Other accounts payable		(225,223	)		(367,525	)
Accrued expenses		(1,042	)		(82,981	)
Provisions		(69,462	)		(100,703	)
Advances received		(14,849	)		(25,612	)
Proceeds from settlement of derivatives		10,733			—
Other current liabilities		(22,987	)		(32,329	)
Defined benefit liabilities, net		(8,632	)		(28,052	)
Long-term advances received		—			1,580,222
Other non-current liabilities		4,429			2,321
Cash generated from operations	W	859,955			767,795

91

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

26. Cash Flow Information, Continued

(b) Changes in liabilities arising from financing activities for the six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)
	January 1, 2024					Non-cash transactions
			Cash flows from financing activities			Gain or loss on foreign currency translation		Interest expense		Others		June 30, 2024
Short-term borrowings	W	1,875,635		(759,996	)		89,505		—		—		1,205,144
Long-term borrowings		13,165,351		(197,781	)		561,668		2,161		3,887		13,535,286
Bonds		1,488,143		(80,000	)		9,938		861		—		1,418,942
Lease liabilities		73,364		(35,160	)		3,869		—		21,542		63,615
Dividend payable		7,302		(136,519	)		—		—		129,217		—
Total	W	16,609,795		(1,209,456	)		664,980		3,022		154,646		16,222,987

(In millions of won)
	January 1, 2023					Non-cash transactions
			Cash flows from financing activities			Gain or loss on foreign currency translation		Interest expense		Others		June 30, 2023
Short-term borrowings	W	2,578,552		(157,687	)		37,713		—		—		2,458,578
Long-term borrowings		10,964,112		2,374,132			128,052		1,509		4,679		13,472,484
Bonds		1,448,746		35,276			4,567		841		167		1,489,597
Lease liabilities		72,788		(39,356	)		2,364		—		45,605		81,401
Dividend payable		—		(34,098	)		—		—		34,098		—
Total	W	15,064,198		2,178,267			172,696		2,350		84,549		17,502,060

92

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

27. Related Parties and Others

(a) Related parties

Related parties as of June 30, 2024 are as follows:

Classification	Description
Associates (*)	Paju Electric Glass Co., Ltd. and others
Entity that has significant influence over the Parent Company	LG Electronics Inc.
Subsidiaries of the entity that has significant influence over the Parent Company	Subsidiaries of LG Electronics Inc.

(*) Details of associates are described in Note 8.

93

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

27. Related Parties and Others, Continued

(b) Major transactions with related parties for the six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)	2024
					Purchase and others
	Sales and others		Dividend income		Purchase of raw material and others		Acquisition of property, plant and equipment		Others
Associates
AVATEC Co., Ltd.	W	—		200		45,294		—		2,743
Paju Electric Glass Co., Ltd.		—		—		116,875		—		4,043
WooRee E&L Co., Ltd.		—		—		3,868		—		15
YAS Co., Ltd.		—		—		4,217		3,407		3,278
Material Science Co., Ltd.		—		—		—		—		888
Subtotal	W	—		200		170,254		3,407		10,967
Entity that has significant influence over the Parent Company
LG Electronics Inc.	W	192,728		—		10,839		129,533		85,372
Subsidiaries of the entity that has significant influence over the Parent Company
LG Electronics India Pvt. Ltd.	W	24,190		—		—		—		179
LG Electronics Vietnam Haiphong Co., Ltd.		146,725		—		—		64		4,231
LG Electronics Nanjing New Technology Co., Ltd.		193,315		—		—		—		465

94

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

27. Related Parties and Others, Continued

(In millions of won)	2024
					Purchase and others
	Sales and others		Dividend income		Purchase of raw material and others		Acquisition of property, plant and equipment		Others
LG Electronics do Brasil Ltda.	W	10,891		—		—		—		210
LG Innotek Co., Ltd.		5,589		—		9,182		—		41,122
LG Electronics Mlawa Sp. z o.o.		408,234		—		—		—		607
LG Electronics Reynosa S.A. DE C.V.		374,801		—		—		—		394
LG Electronics Egypt S.A.E		9,565		—		—		—		15
LG Electronics Japan, Inc.		—		—		—		—		2,989
LG Electronics RUS, LLC		—		—		—		—		4,005
P.T. LG Electronics Indonesia		242,161		—		—		—		588
HI-M Solutek Co., Ltd		—		—		—		—		3,557
Others		5		—		91		43		1,909
Subtotal	W	1,415,476		—		9,273		107		60,271
Total	W	1,608,204		200		190,366		133,047		156,610

95

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

27. Related Parties and Others, Continued

(In millions of won)	2023
	Sales and others				Purchase and others
			Dividend income		Purchase of raw material and others		Acquisition of property, plant and equipment		Others
Associates
AVATEC Co., Ltd.	W	—		—		19,569		—		3,710
Paju Electric Glass Co., Ltd.		—		15,200		74,815		—		1,405
WooRee E&L Co., Ltd.		—		—		750		—		1
YAS Co., Ltd.		—		—		4,127		8,728		3,138
Material Science Co., Ltd.		—		—		—		—		59
Subtotal	W	—		15,200		99,261		8,728		8,313
Entity that has significant influence over the Parent Company
LG Electronics Inc.	W	112,570		—		8,853		167,447		92,372
Subsidiaries of the entity that has significant influence over the Parent Company
LG Electronics India Pvt. Ltd.	W	22,387		—		—		—		136
LG Electronics Vietnam Haiphong Co., Ltd.		253,065		—		—		4,987		403
LG Electronics Nanjing New Technology Co., Ltd.		170,223		—		—		—		227

96

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

27. Related Parties and Others, Continued

(In millions of won)	2023
	Sales and others				Purchase and others
			Dividend income		Purchase of raw material and others		Acquisition of property, plant and equipment		Others
LG Electronics do Brasil Ltda.	W	14,451		—		—		—		62
LG Innotek Co., Ltd.		3,229		—		9,100		—		49,478
LG Electronics Mlawa Sp. z o.o.		370,861		—		—		—		778
LG Electronics Reynosa S.A. DE C.V.		378,177		—		—		—		357
LG Electronics Egypt S.A.E		14,680		—		—		—		56
LG Electronics Japan, Inc.		—		—		—		12		2,997
P.T. LG Electronics Indonesia		260,531		—		—		—		1,169
LG Technology Ventures LLC		—		—		—		—		1,304
HI-M Solutek Co., Ltd		—		—		9		—		4,869
Others		1,068		—		46		—		2,374
Subtotal	W	1,488,672		—		9,155		4,999		64,210
Total	W	1,601,242		15,200		117,269		181,174		164,895

97

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

27. Related Parties and Others, Continued

(c) Balances of receivables and payables from transaction with related parties as at June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)
	Trade accounts and notes receivable and others				Trade accounts and notes payable and others
	June 30, 2024		December 31, 2023		June 30, 2024		December 31, 2023
Associates
AVATEC Co., Ltd.	W	—		—		5,988		4,775
Paju Electric Glass Co., Ltd.		—		—		57,130		56,136
WooRee E&L Co., Ltd.		476		695		1,833		2,219
YAS Co., Ltd.		—		—		5,471		12,483
Material Science Co., Ltd.		—		—		704		118
Subtotal	W	476		695		71,126		75,731
Entity that has significant influence over the Parent Company
LG Electronics Inc. (*1)	W	151,513		63,284		1,127,966		1,140,260
Subsidiaries of the entity that has significant influence over the Parent Company
LG Electronics Vietnam Haiphong Co., Ltd.	W	63,420		76,952		170		1,403
LG Electronics Nanjing New Technology Co., Ltd.		63,231		38,502		75		27
LG Innotek Co., Ltd. (*2)		2,428		3,002		216,558		216,049
LG Electronics Mlawa Sp. z o.o.		120,255		101,357		20		—
LG Electronics Reynosa, S.A. DE C.V.		153,340		64,208		44		109

98

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

27. Related Parties and Others, Continued

(In millions of won)
	Trade accounts and notes receivable and others				Trade accounts and notes payable and others
	June 30, 2024		December 31, 2023		June 30, 2024		December 31, 2023
P.T. LG Electronics Indonesia	W	75,971		46,146		56		108
LG Electronics India Pvt. Ltd.		10,807		2,013		—		35
Others		5,823		6,986		3,736		2,964
Subtotal	W	495,275		339,166		220,659		220,695
Total	W	647,264		403,145		1,419,751		1,436,686

(*1) Trades accounts and notes payable and others for LG Electronics Inc. as of June 30, 2024 and December 31, 2023 includes long-term borrowings of W1,000,000 million (see Note 12.(C)).

(*2) Trade accounts and note payable and others for LG Innotek Co., Ltd. as of June 30, 2024 and December 31, 2023 Includes deposits received amount W180,000 million from lease agreement.

(d) Significant financial transactions with related parties for the six-month periods ended June 30, 2024 and 2023, is as follows:

i) For the six-month period ended June 30, 2024

(In millions of won)
Associates	Collection of loans
WooRee E&L Co., Ltd.	W	219

ii) For the six-month period ended June 30, 2023

(In millions of won)
Entity that has significant influence over the Parent Company	Borrowings
LG Electronics Inc.	W	1,000,000

The group entered into a loan agreement with LG Electronics Inc. on March 27, 2023 for a total borrowing amount of W1,000,000 million, and received W650,000 million on March 30, 2023 and W350,000 million on April 20, 2023.

99

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

27. Related Parties and Others, Continued

(e) Large Enterprise Group Transactions

According to the ‘Related Party Disclosures’ under the Korean IFRS 1024, although not included in the scope of related parties, the major transaction details with the Large Enterprise Group subsidiaries and their affiliates, as well as the amounts of receivables and payables for the six-month periods ended June 30, 2024 and 2023 and as of June 30, 2024 and December 31, 2023, in accordance with the Monopoly Regulation and Fair Trade Act, are as follows:

(In millions of won)
	For the six-month period ended June 30, 2024				June 30, 2024
	Sales and others		Purchase and others		Trade accounts and notes receivable and others		Trade accounts and notes payable and others
LG Uplus Corp.	W	105,300		1,579		—		547
LG Chem Ltd. and its subsidiaries		264		278,396		152		234,998
D&O Corp. and its subsidiaries (*1)		141		61,675		—		88,973
LG Corp. (*2)		—		28,992		7,557		7,521
LG Management Development Institute		—		13,303		—		582
LG CNS Co., Ltd. and its subsidiaries		97		98,529		—		44,420
LG Household & Health Care and its subsidiaries		—		48		—		9
HSADInc. and its subsidiaries		—		4,318		—		1,589
Robostar Co., Ltd.		—		306		—		138
Total	W	105,802		487,146		7,709		378,777

(*1) Among the matters related to D&O Corp. (formerly S&I Corporation Co., Ltd.) and its subsidiaries, S&I Corporation Co., Ltd. and Xi C&A Co., Ltd. were excluded from the large corporate group as of March 19, 2024 and reflected based on the transaction amount for the three-month period ended March 31, 2024.

(*2) According to the lease agreement signed with LG Corp., the recognized lease liabilities as of June 30, 2024 are W4,458 million, and the lease liabilities are not included in the amount of ‘Trade accounts and notes payable and others’ above. The lease repayment for the six-month period ended June 30, 2024 amounts to W4,834 million.

100

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

27. Related Parties and Others, Continued

(In millions of won)
	For the six-month period ended June 30, 2023				December 31, 2023
	Sales and others		Purchase and others		Trade accounts and notes receivable and others		Trade accounts and notes payable and others
LG Uplus Corp.	W	—		1,253		—		206
LG Chem Ltd. and its subsidiaries		209		215,756		49		209,113
D&O Corp. and its subsidiaries		1,848		458,661		—		105,757
LG Corp. (*1)		1,891		22,832		16,261		5,575
LG Management Development Institute		—		21,899		—		543
LG CNS Co., Ltd. and its subsidiaries		7		115,847		5		112,881
LG Household & Health Care Ltd. and its subsidiaries		—		57		—		1
HS AD Inc.(formerly, G2R Inc.) and its subsidiaries(*2)		—		9,382		—		5,687
Robostar Co., Ltd.		—		756		—		312
Total	W	3,955		846,443		16,315		440,075

(*1) According to the lease agreement signed with LG Corp., the recognized lease liabilities as of December 31, 2023 are W8,493 million, and the lease liabilities are not included in the amount of ‘Trade accounts and notes payable and others’ above. The lease repayment for the six-month period ended June 30, 2023 amounts to W5,340 million.

(*2) G2R Inc. changed its name to HS AD Inc. on July 1, 2023.

101

LG DISPLAY CO., LTD. AND SUBSIDIARIES

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

27. Related Parties and Others, Continued

(f) Key management personnel compensation

Compensation costs of key management for the six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)
	2024		2023
Short-term benefits	W	1,197		1,139
Expenses related to the defined benefit plan		483		177
	W	1,680		1,316

Key management refers to the registered directors who have significant control and responsibilities over the Parent Company’s operations and business.

(g) At the end of the reporting period, the Group did not set an allowance for doubtful accounts on the balance of receivables for related parties.

102

LG DISPLAY CO., LTD.

Condensed Separate Interim Financial Statements

(Unaudited)

June 30, 2024 and 2023

(With Report on Review of Condensed Interim Financial Statements)

103

Contents

	Page
Report on Review of Condensed Interim Financial Statements		105
Separate Interim Statements of Financial Position		107
Separate Interim Statements of Comprehensive Loss		108
Separate Interim Statements of Changes in Equity		109
Separate Interim Statements of Cash Flows		110
Notes to the Condensed Separate Interim Financial Statements		111

104

Report on Review of Condensed Interim Financial Statements

(English Translation of a Report Originally Issued in Korean)

To the Shareholders and Board of Directors of

LG Display Co., Ltd.

Reviewed Financial Statements

We have reviewed the accompanying condensed interim financial statements of LG Display Co., Ltd (referred to as the “Company”). These condensed interim financial statements consist of the interim statement of financial position of the Company as at June 30, 2024, and the related interim statements of comprehensive income for the three-month and six-month periods ended June 30, 2024, and condensed interim statements of changes in equity and cash flows for the six-month period ended June 30, 2024, and material accounting policy information and other selected explanatory notes, expressed in Korean won.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and presentation of these condensed interim financial statements in accordance with International Financial Reporting Standards as adopted by the Republic of Korea (Korean IFRS) 1034 Interim Financial Reporting, and for such internal control as management determines is necessary to enable the preparation of condensed interim financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express a conclusion on these condensed interim financial statements based on our review.

We conducted our review in accordance with quarterly or semi-annual review standards established by the Securities and Futures Commission of the Republic of Korea. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Korean Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe the accompanying condensed interim financial statements are not prepared, in all material respects, in accordance with Korean IFRS 1034 Interim Financial Reporting.

Other Matters

The statements of comprehensive income for the three-month and six-month periods ended June 30, 2023, and statements of changes in equity and cash flows for the six-month period ended June 30, 2023, presented herein for comparative purposes, were reviewed by another auditor whose report dated Aug 11, 2023. Based on their review, nothing has come to their attention that causes them to believe the accompanying condensed financial statements do not present fairly, in all material respects, in accordance with Korean IFRS 1034 Interim Financial Reporting.

Samil PricewaterhouseCoopers, 100 Hangang-daero, Yongsan-gu, Seoul 04386, Korea, www.samil.com

105

The statement of financial position as at December 31, 2023, and the statements of comprehensive income, changes in equity and cash flows for the year then ended, not presented herein, were audited by another auditor who expressed an unqualified opinion on those statements on March 7, 2024. The statement of financial position as at December 31, 2023, presented herein for comparative purposes, is consistent, in all material respects, with the above audited statement of financial position as at December 31, 2023.

Review standards and their application in practice vary among countries. The procedures and practices used in the Republic of Korea to review such financial statements may differ from those generally accepted and applied in other countries.

Aug 14, 2024

Seoul, Korea

This report is effective as of Aug 14, 2024, the review report date. Certain subsequent events or circumstances, which may occur between the review report date and the time of reading this report, could have a material impact on the accompanying condensed interim financial statements and notes thereto. Accordingly, the readers of the review report should understand that there is a possibility that the above review report may have to be revised to reflect the impact of such subsequent events or circumstances, if any.

106

LG DISPLAY CO., LTD.

Separate Interim Statements of Financial Position

As of June 30, 2024 and December 31, 2023

(In millions of won)	Note		June 30, 2024 (Unaudited)		December 31, 2023
Assets
Cash and cash equivalents		4, 24	W	98,597		334,502
Deposits in banks		4, 24		20,000		20,000
Trade accounts and notes receivable, net		5, 15, 24, 26		4,129,402		3,077,901
Other accounts receivable, net		5, 24		152,463		95,178
Other current financial assets		6, 24		236,127		163,137
Inventories		7		2,134,264		1,780,959
Prepaid income tax				1,311		1,954
Other current assets		5		135,945		116,851
Total current assets				6,908,109		5,590,482
Deposits in banks		4, 24		11		11
Investments		8		4,856,003		4,932,063
Other non-current accounts receivable, net		5, 24		11,785		13,833
Other non-current financial assets		6, 24		84,670		80,793
Property, plant and equipment, net		9		12,598,059		13,584,247
Intangible assets, net		10		1,676,741		1,683,029
Investment property		11		30,454		32,995
Deferred tax assets		22		3,670,352		3,387,504
Defined benefits assets, net		13		342,330		407,212
Other non-current assets				23,985		20,243
Total non-current assets				23,294,390		24,141,930
Total assets			W	30,202,499		29,732,412
Liabilities
Trade accounts and notes payable		24, 26	W	8,940,796		8,993,964
Current financial liabilities		12, 24, 25		6,485,559		3,850,822
Other accounts payable		24		1,824,943		2,334,289
Accrued expenses				489,564		461,819
Provisions		14		97,420		115,834
Advances received		15		851,686		608,044
Other current liabilities				37,147		57,487
Total current liabilities				18,727,115		16,422,259
Non-current financial liabilities		12, 24, 25, 26		4,661,975		5,985,874
Non-current provisions		14		55,423		63,805
Long-term advances received		15		625,140		967,050
Other non-current liabilities		24		584,398		611,869
Total non-current liabilities				5,926,936		7,628,598
Total liabilities				24,654,051		24,050,857
Equity
Share capital		16		2,500,000		1,789,079
Share premium		16		2,821,006		2,251,113
Retained earnings				227,442		1,641,363
Total equity				5,548,448		5,681,555
Total liabilities and equity			W	30,202,499		29,732,412

See accompanying notes to the condensed separate interim financial statements.

107

LG DISPLAY CO., LTD.

Separate Interim Statements of Comprehensive Loss

For the three-month and six-month periods ended June 30, 2024 and 2023

		For the three-month period ended June 30						For the six-month period ended June 30
(In millions of won, except earnings (loss) per share amounts)	Note	2024 (Unaudited)			2023 (Unaudited)			2024 (Unaudited)			2023 (Unaudited)
Revenue	17, 26		6,122,223			4,329,254		W	11,259,241			8,271,351
Cost of sales	7, 18, 26		(6,026,177	)		(5,272,140	)		(11,265,465	)		(10,220,282	)
Gross profit (loss)			96,046			(942,886	)		(6,224	)		(1,948,931	)
Selling expenses	18, 19		(72,011	)		(74,058	)		(132,677	)		(144,790	)
Administrative expenses	18, 19		(142,406	)		(146,569	)		(288,793	)		(295,446	)
Research and development expenses	18		(339,510	)		(338,031	)		(675,007	)		(688,169	)
Operating loss			(457,881	)		(1,501,544	)		(1,102,701	)		(3,077,336	)
Finance income	21		337,010			1,957,979			499,197			2,302,249
Finance costs	21		(325,795	)		(135,544	)		(620,602	)		(538,240	)
Other non-operating income	20		311,512			191,712			655,297			456,879
Other non-operating expenses	18, 20		(425,065	)		(319,567	)		(1,110,734	)		(774,277	)
Profit (loss) before income tax			(560,219	)		193,036			(1,679,543	)		(1,630,725	)
Income tax benefit	22		27,012			264,035			269,891			682,041
Profit (loss) for the period			(533,207	)		457,071			(1,409,652	)		(948,684	)
Other comprehensive income (loss)
Items that will never be reclassified to profit or loss
Remeasurements of net defined benefit liabilities	13		(1,480	)		(238	)		(4,269	)		(783	)
Other comprehensive loss for the period, net of income tax			(1,480	)		(238	)		(4,269	)		(783	)
Total comprehensive income (loss) for the period			(534,687	)		456,833		W	(1,413,921	)		(949,467	)
Earnings (loss) per share (in won)
Basic earnings (loss) per share	23		(1,066	)		1,200		W	(3,188	)		(2,491	)
Diluted earnings (loss) per share	23		(1,066	)		1,200		W	(3,188	)		(2,491	)

See accompanying notes to the condensed separate interim financial statements.

108

LG DISPLAY CO., LTD.

Separate Interim Statements of Changes in Equity

For the six-month periods ended June 30, 2024 and 2023

(In millions of won)	Note		Share capital		Share premium		Retained earnings			Other capital		Total equity
Balances at January 1, 2023			W	1,789,079		2,251,113		3,310,247			—		7,350,439
Total comprehensive loss for the period
Loss for the period				—		—		(948,684	)		—		(948,684	)
Other comprehensive loss
Remeasurements of net defined benefit liabilities				—		—		(783	)		—		(783	)
Total comprehensive loss for the period			W	—		—		(949,467	)		—		(949,467	)
Balances at June 30, 2023 (Unaudited)			W	1,789,079		2,251,113		2,360,780			—		6,400,972
Balances at January 1, 2024			W	1,789,079		2,251,113		1,641,363			—		5,681,555
Total comprehensive loss for the period
Loss for the period				—		—		(1,409,652	)		—		(1,409,652	)
Other comprehensive loss
Remeasurements of net defined benefit liabilities				—		—		(4,269	)		—		(4,269	)
Total comprehensive loss for the period			W	—		—		(1,413,921	)		—		(1,413,921	)
Transaction with owners, recognized directly in equity
Capital increase		16	W	710,921		569,893		—			—		1,280,814
Balances at June 30, 2024 (Unaudited)			W	2,500,000		2,821,006		227,442			—		5,548,448

See accompanying notes to the condensed separate interim financial statements.

109

LG DISPLAY CO., LTD.

Separate Interim Statements of Cash Flows

For the six-month periods ended June 30, 2024 and 2023

(In millions of won)	Note		2024 (Unaudited)			2023 (Unaudited)
Cash flows from (used in) operating activities:		25
Cash generated from operations		25		(1,722,164	)		(2,036,389	)
Income taxes paid				(11,044	)		(84,378	)
Interests received				8,974			8,853
Interests paid				(298,728	)		(290,706	)
Cash flows used in operating activities			W	(2,022,962)			(2,402,620	)
Cash flows from (used in) investing activities:
Dividends received			W	228,833			1,887,196
Proceeds from withdrawal of deposits in banks				—			2,804
Acquisition of financial assets at fair value through other comprehensive income				—			(1,000	)
Proceeds from disposal of financial assets at fair value through other comprehensive income				—			891
Acquisition of investments				(837,340	)		(2,549	)
Proceeds from disposal of investments				913,400			—
Acquisition of property, plant and equipment				(807,040	)		(1,332,709	)
Proceeds from disposal of property, plant and equipment				165,292			374,528
Acquisition of intangible assets				(468,329	)		(342,648	)
Proceeds from disposal of intangible assets				5,140			4,215
Proceeds from settlement of derivatives				183,219			85,090
Decrease in short-term loans				9,126			10,072
Increase in deposits				(980	)		(5	)
Decrease in deposits				87			69
Proceeds from disposal of greenhouse gas emission permits				6,494			2,310
Cash flows used in investing activities				(602,098	)		688,264
Cash flows from (used in) financing activities:		25
Proceeds from short-term borrowings				4,033,497			3,367,447
Repayments of short-term borrowings				(2,642,243	)		(3,210,162	)
Proceeds from issuance of bonds				—			469,266
Repayments of bonds				(80,000	)		(433,990	)
Proceeds from long-term borrowings				1,457,135			2,447,307
Repayments of current portion of long-term borrowings				(1,656,016	)		(1,277,533	)
Payment guarantee fee received				3,739			3,419
Repayments of payment guarantee fee				(760	)		(1,213	)
Capital increase				1,292,455			—
Transaction cost from capital increase				(11,640	)		—
Payment of lease liabilities				(7,012	)		(6,485	)
Cash flows from financing activities				2,389,155			1,358,056
Net decrease in cash and cash equivalents				(235,905	)		(356,300	)
Cash and cash equivalents at January 1				334,502			692,312
Cash and cash equivalents at June 30			W	98,597			336,012

See accompanying notes to the condensed separate interim financial statements.

110

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

1. Organization and Description of Business

LG Display Co., Ltd. (the “Company”) was incorporated in February 1985 and the Company is a public corporation listed in the Korea Exchange since 2004. The main business of the Company is to manufacture and sell displays and its related products. As of June 30, 2024, the Company is operating Thin Film Transistor Liquid Crystal Display (“TFT-LCD”) and Organic Light Emitting Diode (“OLED”) panel manufacturing plants in Gumi, Paju and China and TFT-LCD and OLED module manufacturing plants in Gumi, Paju, China and Vietnam. The Company is domiciled in the Republic of Korea with its address at 128 Yeouidae-ro, Yeongdeungpo-gu, Seoul, the Republic of Korea. As of June 30, 2024, LG Electronics Inc., a major shareholder of the Company, owns 36.72% (183,593,206 shares) of the Company’s common stock.

As of June 30, 2024, 500,000,000 shares of the Company’s common stock is listed on Korea Exchange under the identifying code 034220, and 21,711,114 American Depository Shares (“ADSs”, 2 ADSs represent one share of common stock) is listed on the New York Stock Exchange under the symbol “LPL”.

2. Basis of Preparation

The Company maintains its accounting records in Korean won and prepares statutory financial statements in the Korean language (Hangul) in accordance with International Financial Reporting Standards as adopted by the Republic of Korea (Korean IFRS). The accompanying condensed separate interim financial statements have been condensed, restructured and translated into English from the Korean language financial statements.

Certain information attached to the Korean language financial statements, but not required for a fair presentation of the Company’s financial position, financial performance or cash flows, is not presented in the accompanying condensed separate interim financial statements.

(a) Application of accounting standards

The Company’s condensed separate interim financial statements have been prepared in accordance with International Financial Reporting Standard as adopted by the Republic of Korea (Korean IFRS) 1034 Interim Financial Reporting. These condensed separate interim financial statements do not include all of the information required for full annual financial statements and should be read in conjunction with the separate financial statements of the Company as of and for the year ended December 31, 2023.

These condensed interim financial statements are separate interim financial statements prepared in accordance with Korean IFRS 1027, Separate Financial Statements, presented by a parent, an investor in an associate, in which the investments are accounted for on the basis of the direct equity interest rather than on the basis of the reported results and net assets of the investees.

(b) Basis of Measurement

The condensed separate interim financial statements have been prepared on the historical cost basis except for the following material items in the statement of financial position:

• derivative financial instruments at fair value, financial assets at fair value through profit or loss (“FVTPL”), financial assets at fair value through other comprehensive income (“FVOCI”), financial liabilities at fair value through profit or loss (“FVTPL”), and

• net defined benefit liabilities (defined benefit assets) recognized at the present value of defined benefit obligations less the fair value of plan assets

111

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

2. Basis of Preparation, Continued

(c) Functional and Presentation Currency

The condensed separate interim financial statements are presented in Korean won, which is the Company’s functional currency.

(d) Estimates and Judgments

The preparation of the condensed separate interim financial statements in conformity with Korean IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.

(e) Accounting standards and Interpretation issued and adopted by the Company

The Company has applied the following new or amended accounting standards for the annual periods commencing January 1, 2024.

(i) Amendments to Korean IFRS 1001 Presentation of Financial Statements – Classification of Liabilities as Current or Non-current, Non-current Liabilities with Covenants

The amendments clarify that liabilities are classified as either current or non-current, depending on the substantive rights that exist at the end of the reporting period. Classification is unaffected by the likelihood that an entity will exercise right to defer settlement of the liability or the expectations of management. Also, the settlement of liability includes the transfer of the entity’s own equity instruments, however, it would be excluded if an option to settle them by the entity’s own equity instruments if compound financial instruments is met the definition of equity instruments and recognized separately from the liability. In addition, covenants that an entity is required to comply with after the end of the reporting period would not affect classification of a liability as current or non-current at the reporting date. When an entity classifies a liability that is subject to the covenants which an entity is required to comply with within twelve months of the reporting date as non-current at the end of the reporting period, the entity shall disclose information in the notes to understand the risk that non-current liabilities with covenants could become repayable within twelve months after the reporting period. The amendments do not have a significant impact on the financial statements.

(ii) Amendments to Korean IFRS 1007 Statement of Cash Flows, Korean IFRS 1107 Financial Instruments: Disclosures – Supplier finance arrangements

When applying supplier finance arrangements, an entity shall disclose information about its supplier finance arrangements that enables users of financial statements to assess the effects of those arrangements on the entity’s liabilities and cash flows and on the entity’s exposure to liquidity risk.

(iii) Amendments to Korean IFRS 1116 Leases – Lease Liability in a Sale and Leaseback

When subsequently measuring lease liabilities arising from a sale and leaseback, a seller-lessee shall determine lease payments or revised lease payments in a way that the seller-lessee would not recognize any amount of the gain or loss that relates to the right of use retained by the seller-lessee. The amendments do not have a significant impact on the financial statements.

112

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

2. Basis of Preparation, Continued

(iv) Amendments to Korean IFRS 1001 Presentation of Financial Statements – Disclosure of Cryptographic Assets

The amendments require an additional disclosure if an entity holds cryptographic assets, or holds cryptographic assets on behalf of the customer, or issues cryptographic assets. The amendments do not have a significant impact on the financial statements.

(f) Accounting standards and Interpretation issued but not yet adopted by the Company

The Accounting standards and Interpretation issued that have been enacted or amended but have not been applied because the effective date has not arrived are as follows:

Amendments to Korean IFRS 1021 The Effects of Changes in Foreign Exchange Rates and 1101 First-time Adoption of International Financial Reporting Standards – Lack of Exchangeability

When an entity estimates a spot exchange rate because exchangeability between two currencies is lacking, the entity shall disclose related information. The amendments should be applied for annual periods beginning on or after January 1, 2025, and earlier application is permitted. The Company is in review for the impact of these amendments on the financial statements.

(g) Income Tax Expense

The Company is within the scope of the Pillar Two model rules, there is no additional income tax expenses recognized in relation to the rules and applied the exception to recognizing and disclosing information about deferred tax and assets and liabilities related to Pillar Two income Taxes.

113

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

3. Accounting Policies

The accounting policies followed by the Company in the preparation of its condensed separate interim financial statements are the same as those followed by the Company in its preparation of the separate financial statements as of and for the year ended December 31, 2023, except for the application of Korean IFRS 1034 Interim Financial Reporting.

4. Cash and Cash Equivalents and Deposits in Banks

Cash and cash equivalents and deposits in banks as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)
	June 30, 2024		December 31, 2023
Current assets
Cash and cash equivalents
Deposits	W	98,597		334,502
Deposits in banks
Time deposits (*)	W	20,000		20,000
Non-current assets
Deposits in banks
Deposit for checking account	W	11		11

(*) It consists of funds for business cooperation to aid LG Group companies’ suppliers, which is restricted in use.

114

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

5. Trade Accounts and Notes Receivable, Other Accounts Receivable and Others

(a) Trade accounts and notes receivable as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)
	June 30, 2024		December 31, 2023
Due from third parties, net	W	244,896		172,109
Due from related parties		3,884,506		2,905,792
Total	W	4,129,402		3,077,901

(b) Other accounts receivable as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)
	June 30, 2024		December 31, 2023
Current assets
Non-trade receivables, net	W	145,206		94,936
Accrued income		7,257		242
Subtotal	W	152,463		95,178
Non-current assets
Long-term non-trade receivables	W	11,785		13,833
Total	W	164,248		109,011

Due from related parties included in other accounts receivable, as of June 30, 2024 and December 31, 2023 are W114,297 million and W55,593 million, respectively.

(c) The aging of trade accounts and notes receivable and other accounts receivable as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)	June 30, 2024
	Original Amount				Allowance for doubtful account
	Trade accounts and notes receivable		Other accounts receivable		Trade accounts and notes receivable			Other accounts receivable
Not past due	W	4,127,877		162,749		(357	)		(132	)
1-15 days past due		315		135		—			(1	)
16-30 days past due		1,567		5		—			—
31-60 days past due		—		366		—			(4	)
More than 60 days past due		—		1,138		—			(8	)
Total	W	4,129,759		164,393		(357)			(145	)

115

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

5. Trade Accounts and Notes Receivable, Other Accounts Receivable and Others, Continued

(In millions of won)	December 31, 2023
	Original Amount				Allowance for doubtful account
	Trade accounts and notes receivable		Other accounts receivable		Trade accounts and notes receivable			Other accounts receivable
Not past due	W	3,074,502		105,816		(234	)		(62	)
1-15 days past due		198		1,357		—			—
16-30 days past due		3,435		156		—			(2	)
31-60 days past due		—		168		—			(2	)
More than 60 days past due		—		1,592		—			(12	)
Total	W	3,078,135		109,089		(234	)		(78	)

The movement in the allowance for doubtful account in respect of trade accounts and notes receivable and other accounts receivable for the six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)	June 30, 2024				June 30, 2023
	Trade accounts and notes receivable		Other accounts receivable		Trade accounts and notes receivable			Other accounts receivable
At January 1	W	234		78		229			1,418
(Reversal of) bad debt expense		123		67		156			(6	)
At June 30	W	357		145		385			1,412

(d) Other current assets as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)	June 30, 2024		December 31, 2023
Advanced payments	W	1,181		1,220
Prepaid expenses		69,997		71,382
Prepaid value added tax		60,648		39,128
Right to recover returned goods		4,119		5,121
Total	W	135,945		116,851

116

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

6. Other Financial Assets

Other financial assets as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)	June 30, 2024		December 31, 2023
Current assets
Financial assets at fair value through profit or loss
Derivatives (*1)	W	145,090		136,762
Fair value hedging derivatives
Derivatives (*2)	W	51,301		—
Financial assets at amortized cost
Short-term loans	W	31,049		26,375
Deposits		8,687		—
Subtotal	W	39,736		26,375
Total	W	236,127		163,137
Non-current assets
Financial assets at fair value through profit or loss
Equity securities	W	3,967		3,967
Convertible securities		1,838		1,838
Derivatives (*1)		35,650		32,941
Subtotal	W	41,455		38,746
Fair value hedging derivatives
Derivatives (*2)	W	22,915		—
Financial assets at amortized cost
Deposits	W	745		8,538
Long-term loans		19,555		33,509
Subtotal	W	20,300		42,047
Total	W	84,670		80,793

(*1) The derivatives, which are not designated as hedging instruments, arise from cross currency interest swap contracts and others for the purpose of managing currency and interest rate risks associated with foreign currency denominated borrowings and bonds.

(*2) The derivatives, which are designated as hedging instruments, arise from forward exchange contracts for the purpose of managing currency risk associated with advances received in foreign currency.

117

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

7. Inventories

Inventories as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)
	June 30, 2024		December 31, 2023
Finished goods	W	343,866		279,483
Work-in-process		1,218,528		1,005,025
Raw materials		476,304		408,078
Supplies		95,566		88,373
Total	W	2,134,264		1,780,959

For the six-month periods ended June 30, 2024 and 2023, the amount of inventories recognized as cost of sales and loss on valuation of inventories are as follows:

(In millions of won)
	2024		2023
Cost of sales	W	11,265,465		10,220,282
Inventories recognized as cost of sales		11,234,115		10,233,536
Loss on valuation of inventories		31,350		(13,254	)

118

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

8. Investments

(a) Details of investments in subsidiaries as at June 30, 2024 and December 31, 2023, are as follows:

(In millions of won)
			June 30, 2024					December 31, 2023
Subsidiaries	Location	Business	Percentage of ownership			Carrying amount		Percentage of ownership			Carrying amount
LG Display America, Inc.	San Jose, U.S.A.	Sales of display products		100	%	W	36,815		100	%	W	36,815
LG Display Germany GmbH	Eschborn, Germany	Sales of display products		100	%		19,373		100	%		19,373
LG Display Japan Co., Ltd.	Tokyo, Japan	Sales of display products		100	%		15,686		100	%		15,686
LG Display Taiwan Co., Ltd.	Taipei, Taiwan	Sales of display products		100	%		35,230		100	%		35,230
LG Display Nanjing Co., Ltd.	Nanjing, China	Production of display products		100	%		593,726		100	%		593,726
LG Display Shanghai Co., Ltd.	Shanghai, China	Sales of display products		100	%		9,093		100	%		9,093
LG Display Guangzhou Co., Ltd.	Guangzhou, China	Production of display products		100	%		293,557		100	%		293,557
LG Display Shenzhen Co., Ltd.	Shenzhen, China	Sales of display products		100	%		3,467		100	%		3,467
LG Display Singapore Pte. Ltd.	Singapore	Sales of display products		100	%		1,250		100	%		1,250
L&T Display Technology (Fujian) Limited	Fujian, China	Production and sales of LCD module and LCD monitor sets		51	%		10,123		51	%		10,123
LG Display Yantai Co., Ltd.	Yantai, China	Production of display products		100	%		169,195		100	%		169,195
Nanumnuri Co., Ltd.	Gumi, South Korea	Business facility maintenance		100	%		800		100	%		800
LG Display (China) Co., Ltd.	Guangzhou,China	Production and sales of display products		51	%		723,086		51	%		723,086
Unified Innovative Technology, LLC	Wilmington, U.S.A.	Intellectual property management		100	%		9,489		100	%		9,489
LG Display Guangzhou Trading Co., Ltd.	Guangzhou, China	Sales of display products		100	%		218		100	%		218
Global OLED Technology, LLC	Sterling, U.S.A.	OLED intellectual property management		100	%		164,322		100	%		164,322
LG Display Vietnam Haiphong Co., Ltd.	Haiphong, Vietnam	Production and sales of display products		100	%		672,658		100	%		672,658
Suzhou Lehui Display Co., Ltd.	Suzhou, China	Production and sales of LCD module and LCD monitor sets		100	%		121,640		100	%		121,640
LG DISPLAY FUND I LLC(*1)	Wilmington, U.S.A.	Investment in venture businesses and technologies		100	%		96,245		100	%		91,105
LG Display High-Tech (China) Co., Ltd.	Guangzhou, China	Production and sales of display products		69	%		1,794,547		69	%		1,794,547
Money Market Trust(*2)	Seoul, Korea	Management of trust assets		100	%		11,700		100	%		92,900
Total						W	4,782,220				W	4,858,280

(*1) For the six-month period ended June 30, 2024, the Company contributed W5,140 million in cash for the capital increase of LG DISPLAY FUND I LLC. There was no change in the Company’s percentage of ownership in LG DISPLAY FUND I LLC as a result of this additional investment.

(*2) For the six-month period ended June 30, 2024, the Company decreased by W81,200 million as a result of acquisition and disposal of Money Market Trust. There was no change in the Company’s percentage of ownership in Money Market Trust with this regard.

119

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

8. Investments, Continued

(b) Details of investments in associates as at June 30, 2024 and December 31, 2023, are as follows:

(In millions of won)
			June 30, 2024					December 31, 2023
Associates	Location	Business	Percentage of ownership			Carrying amount		Percentage of ownership			Carrying amount
Paju Electric Glass Co., Ltd.	Paju, South Korea	Production of glass for display		40	%	W	45,089		40	%	W	45,089
WooRee E&L Co., Ltd.	Ansan, South Korea	Production of LED back light unit packages		13	%		7,106		13	%		7,106
YAS Co., Ltd.	Paju, South Korea	Development and production of evaporation equipment for OLEDs		16	%		10,000		16	%		10,000
AVATEC Co., Ltd.	Daegu, South Korea	Processing and Sales of glass for display		14	%		8,000		14	%		8,000
Arctic Sentinel, Inc.	Los Angeles, U.S.A.	Development and production of tablet for kids		10	%		—		10	%		—
Cynora GmbH	Bruchsal Germany	Development of organic light emitting materials for displays and lighting devices		10	%		—		10	%		—
Material Science Co., Ltd.(*)	Seoul, South Korea	Development, production and sales of materials for display		15	%		3,588		16	%		3,588
						W	73,783				W	73,783

(*) For the six-month period ended June 30, 2024, due to the investee’s disposal of treasury shares, the Company’s percentage of ownership decreased from 16% to 15%.

Although the Company’s respective share interests in WooRee E&L Co., Ltd., YAS Co., Ltd., AVATEC Co., Ltd., Arctic Sentinel, Inc., Cynora GmbH and Material Science Co., Ltd. are below 20%, the Company is able to exercise significant influence through its right to appoint one or more directors to the board of directors of each investee. Accordingly, the investments in these investees have been accounted for using the equity method.

Dividend income recognized from subsidiaries and associates for the six-month periods ended June 30, 2024 and 2023 amounted to W220,337 million and W1,887,196 million, respectively.

120

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

9. Property, Plant and Equipment

(a) Changes in property, plant and equipment for the six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)	2024			2023
Book value as of January 1	W	13,584,247			14,044,844
Acquisitions		533,074			1,158,050
Depreciation		(1,289,105	)		(813,255	)
Disposals		(161,714	)		(406,158	)
Impairment loss (*)		(67,530	)		(4,947	)
Others		(913	)		(1,389	)
Book value as of June 30	W	12,598,059			13,977,145

(*) Impairment losses are recognized for the difference between the carrying amount and the recoverable amount of property, plant and equipment.

(b) The capitalized borrowing costs and the annualized capitalization rates were W18,938 million and 5.50%, and W134,054 million and 4.92%, for the six-month periods ended June 30, 2024 and 2023, respectively.

10. Intangible Assets

The Company capitalizes expenditures related to development activities, such as expenditures incurred on designing, manufacturing and testing of products after those related activities meet the capitalization criteria of development costs including technical feasibility, future economic benefits and others. The balances of capitalized development costs as of June 30, 2024 and December 31, 2023 are W720,004 million and W641,461 million, respectively. For the six-month periods ended June 30, 2024 and 2023, the Company recognized impairment losses amounting to W45,019 million and W20,322 million, respectively, in connection with development projects.

11. Investment Property

(a) Changes in investment properties for the six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)	2024			2023
At January 1	W	32,995			28,269
Depreciation		(2,541	)		(2,419	)
Others		—			(228	)
At June 30	W	30,454			25,622

(b) For the six-month period ended June 30, 2024, rental income from investment property is W4,024 million (rental income from investment property for the six-month period ended June 30, 2023: W1,941 million) and rental cost is W2,541 million (rental cost for the six-month period ended June 30, 2023: W2,419 million).

121

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

12. Financial Liabilities

(a) Financial liabilities as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)	June 30, 2024		December 31, 2023
Current
Short-term borrowings	W	2,927,752		1,428,213
Current portion of long-term borrowings		2,638,170		2,000,930
Current portion of bonds		901,354		369,716
Current portion of payment guarantee liabilities		6,663		6,780
Derivatives (*1)		2,770		26,193
Fair value hedging derivatives (*2)		—		7,392
Lease liabilities		8,850		11,598
Total	W	6,485,559		3,850,822
Non-current
Long-term borrowings	W	4,118,719		4,784,819
Bonds		517,588		1,118,427
Payment guarantee liabilities		11,785		13,833
Derivatives (*1)		8,833		37,333
Fair value hedging derivatives (*2)		—		28,660
Lease liabilities		5,050		2,802
Total	W	4,661,975		5,985,874

(*1) The derivatives, which are not designated as hedging instruments, arise from cross currency interest swap contracts and others for the purpose of managing currency and interest rate risks associated with foreign currency denominated borrowings and bonds.

(*2) The derivatives, which are designated as hedging instruments, arise from forward exchange contracts for the purpose of managing currency risk associated with advances received in foreign currency.

(b) Details of short-term borrowings as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)
Lender	Description	Annual interest rate as of June 30, 2024 (%)	June 30, 2024		December 31, 2023
Standard Chartered Bank Korea Limited and others	Working Capital and others	3.50~6.98	W	2,927,752		1,428,213

122

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

12. Financial Liabilities, Continued

(c) Details of Korean won denominated long-term borrowings as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)

Lender

Description

Maturity

Annual interest rate as of June 30, 2024 (%)

June 30, 2024

December 31, 2023

LG Electronics Inc.

Operating capital

March 2026

6.06

W

1,000,000

1,000,000

Korea Development Bank and others

Facility capital and others

November 2024~ March 2030

2.41~6.18

3,874,715

3,490,967

Less: current portion of long-term borrowings

(1,631,000

)

(776,000

)

Total

W

3,243,715

3,714,967

(d) Details of foreign currency denominated long-term borrowings as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won and USD)

Lender

Description

Maturity

Annual interest rate as of June 30, 2024 (%)

June 30, 2024

December 31, 2023

KEB Hana Bank and others

Facility capital and others

July 2024~ March 2029

2.46~8.60

W

1,882,174

2,294,782

Foreign currency equivalent of foreign currency borrowings

USD 1,355

USD 1,780

Less: current portion of long-term borrowings

(1,007,170

)

(1,224,930

)

Total

W

875,004

1,069,852

123

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

12. Financial Liabilities, Continued

(e) Details of bonds issued and outstanding as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won and USD)
	Maturity		Annual interest rate as of June 30, 2024 (%)		June 30, 2024			December 31, 2023
Korean won denominated bonds at amortized cost (*1)
Publicly issued bonds		September 2024~ February 2027		2.29~3.66	W	945,000			1,025,000
Privately issued bonds		January 2025~ January 2026		7.20~7.25		337,000			337,000
Less: discount on bonds						(1,394	)		(2,120	)
Less: current portion						(901,354	)		(369,716	)
Subtotal					W	379,252			990,164
Foreign currency denominated bonds at amortized cost (*2)
Privately issued bonds		April 2026		7.22	W	138,920			128,940
Foreign currency equivalent of foreign currency denominated bonds						USD 100			USD 100
Less: discount on bonds						(584	)		(677)
Less: foreign currency equivalent of discount on bonds of foreign currency denominated bonds						USD (0)			USD (1)
Subtotal					W	138,336			128,263
Total					W	517,588			1,118,427

(*1) Principal of the won denominated bonds is to be repaid at maturity and interests are paid quarterly.

(*2) Principal of the foreign currency denominated bonds is to be repaid at maturity and interests are paid quarterly.

124

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

13. Post-employment Benefits

The Company’s defined benefit plans provide a lump-sum payment to an employee based on final salary rates and length of service at the time the employee leaves the Company.

(a) Net defined benefit liabilities (defined benefit assets) recognized as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)
	June 30, 2024			December 31, 2023
Present value of defined benefit obligations	W	1,428,990			1,482,976
Fair value of plan assets		(1,771,320	)		(1,890,188	)
Total	W	(342,330	)		(407,212	)

(b) Plan assets as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)
	June 30, 2024		December 31, 2023
Time deposits in banks	W	1,771,320		1,890,188

As of June 30, 2024, the Company maintains the plan assets primarily with Shinhan Bank, KEB Hana Bank and others.

(c) Expenses related to defined benefit plans recognized in profit or loss for the three-month and six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)
	For the three-month periods ended June 30						For the six-month periods ended June 30
	2024			2023			2024			2023
Current service cost	W	38,115			42,870			76,230			85,740
Net interest cost		(4,713	)		(5,986	)		(9,427	)		(11,972	)
	W	33,402			36,884			66,803			73,768

(d) Remeasurements of the net defined benefit liabilities (assets) included in other comprehensive income (loss) for the three-month and six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)
	For the three-month periods ended June 30						For the six-month periods ended June 30
	2024			2023			2024			2023
Remeasurements of net defined benefit liabilities	W	(1,919	)		(310	)		(5,539	)		(1,012	)
Tax effect		439			72			1,270			229
Remeasurements of net defined benefit liabilities, net of income tax	W	(1,480	)		(238	)		(4,269	)		(783	)

125

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

14. Provisions

Changes in provisions for the six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)
	Litigation		Warranties (*)			Others			Total
At January 1, 2024	W	1,806		171,952			5,880			179,638
Additions (reversal)		126		24,304			(1,032	)		23,398
Usage		—		(50,193	)		—			(50,193	)
At June 30, 2024	W	1,932		146,063			4,848			152,843
Current	W	1,932		90,640			4,848			97,420
Non-current	W	—		55,423			—			55,423

(*) The Company provides warranty on defective products for warranty periods after sales. The provision is calculated based on the assumption of expected number of warranty claims and costs per claim considering historical experience.

(In millions of won)
	Litigation		Warranties (*)			Others			Total
At January 1, 2023	W	1,680		248,137			8,432			258,249
Additions (reversal)		141		22,934			(2,732	)		20,343
Usage		—		(69,046	)		—			(69,046	)
At June 30, 2023	W	1,821		202,025			5,700			209,546
Current	W	1,821		131,983			5,700			139,504
Non-current	W	—		70,042			—			70,042

(*) The Company provides warranty on defective products for warranty periods after sales. The provision is calculated based on the assumption of expected number of warranty claims and costs per claim considering historical experience.

126

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

15. Contingent Liabilities and Commitments

(a) Legal Proceedings

Anti-trust litigations

The Company and other LCD panel manufacturers have been sued by individual claimants on allegations of violating EU competition laws. While the Company continues its vigorous defense of the various pending proceedings described above, as of June 30, 2024, the Company cannot predict the final outcomes of the lawsuits that have been filed.

Others

The Company is involved in various lawsuits and disputes in addition to the pending proceedings described above. The Company cannot reliably estimate the timing and amount of outflows of resources embodying economic benefits relating to the disputes.

(b) Commitments

Factoring and securitization of accounts receivable

The Company has discount agreements with Korea Development Bank and other banks for accounts receivable related to export sales transactions with its subsidiary, up to USD 1,000 million (W1,389,200 million). As of June 30, 2024, there is no amount of the discounted accounts receivable that are not past due in connection with these agreements. In relation to the above agreements, the financial institutions have the recourse for account receivables that are past due.

The Company has assignment agreements with MUFG Bank and other banks for accounts receivable related to domestic and export sales transactions, up to W555,680 million. As of June 30, 2024, there is no amount of the sold accounts receivable that are not past due in connection with these agreements. In relation to the above agreements, the financial institutions do not have the recourse for account receivables that are past due.

127

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

15. Contingent Liabilities and Commitments, Continued

Letters of credit

The Company has entered into agreements with a financial institutions to open letter of credit (L/C), etc., and as of June 30, 2024, the credit limits for each agreement are as follows:

(In millions of won and USD)
	Contractual amount		KRW equivalent
KEB Hana Bank		USD 450	W	625,140
Industrial Bank of Korea		USD 450		625,140
Industrial and Commercial Bank of China		USD 200		277,840
Shinhan Bank		USD 100		138,920
KB Kookmin Bank		USD 700		972,440
MUFG Bank		USD 100		138,920
Sumitomo Mitsui Banking Corporation		USD 200		277,840
The Export–Import Bank of Korea		USD 100		138,920
Total		USD 2,300	W	3,195,160

Payment guarantees

The Company provides payment guarantee to LG Display Vietnam Haiphong Co., Ltd. for the loan principal of USD 1,332 million (W1,849,951 million).

In addition, the Company obtained payment guarantees of USD 1,200 million (W1,667,040 million) from KB Kookmin Bank and other banks for advances received related to the long-term supply agreements.

Patent and License agreements

As of June 30, 2024, the Company has patent license agreements with Hitachi Display, Ltd. and others in relation to its LCD business and patent license agreements with Universal Display Corporation and others in relation to its OLED business. Also, as of June 30, 2024, the Company has a trademark license agreement with LG Corp. and license agreements with other companies for patents, trademarks and other intellectual property rights.

Long-term supply agreement

As of June 30, 2024, in connection with long-term supply agreements with customers, the Company recognized advances received of USD 1,050 million (W1,458,660 million). The advances received will be used to offset against accounts receivable arising from future product sales after a certain period of time from the date of receipt. In relation to this, the Company received payment guarantees of USD 1,200 million (W1,667,040 million) from KB Kookmin Bank and other banks (see note 15(b) payment guarantees).

128

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

15. Contingent Liabilities and Commitments, Continued

Collateral

The details of the collateral provided by the Company are as follows:

(In millions of won)
Collateral	Carrying amount	Maximum bond amount		Secured creditor	Collateral borrowings amount
Property plant and equipment and others	W472,408		1,200,000	LG Electronics Inc.		1,000,000
Property plant and equipment and others	75,004		326,400	Korea Development Bank and others		204,000
Property plant and equipment and others (*)	246,974		780,000	Korea Development Bank and others		520,000

(*) The carrying amount of collateral asset, amounting to W246,974 million, includes collateral asset of W75,004 million for collateral borrowings of W204,000 million from Korea Development Bank and other banks.

The details of the collateral received are as follows:

(In millions of won and CNY)
Collateral	Carrying amount	Maximum bond amount		Secured creditor	Collateral borrowings amount
Deposits in banks and others(*)	CNY 1,820		346,626	Shinhan Bank and others		300,000

(*) The Company receives Deposits in banks and others as collateral from LG Display Nanjing Co., Ltd.

Commitments for asset acquisition

The amount committed to acquire property, plant, equipment and intangible assets not recognized on the financial statements as of June 30, 2024 is W478,188 million.

129

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

16. Share Capital and Share Premium

The total number of shares to be issued by the Company is 500,000,000 shares, the number of shares issued is 500,000,000 shares (December 31, 2023: 357,815,700 shares), and the par value per share is W5,000.

The Company conducted a paid-in capital increase based on the resolution of the board of directors on December 18, 2023, and the newly issued shares were listed on the Korea Exchange (KRX) on March 26, 2024.

With the new shares of common stock, the share capital increased by W710,921 million to W2,500,000 million.

Classification	Description
Purpose	Facility capital, operating capital and debt repayment
Type of shares issued	Common stock
Number of shares issued	142,184,300 shares
The amount per shares	W9,090

The capital surplus consists of share premium and due to the capital increase during the six-month period ended June 30, 2024, the share premium increased by W569,893 million to W2,821,006 million.

17. Revenue

Details of revenue for the three-month and six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)
	For the three-month periods ended June 30				For the six-month periods ended June 30
	2024		2023		2024		2023
Sales of goods	W	6,103,508		4,315,745		11,229,167		8,246,807
Royalties		10,593		4,370		13,273		7,180
Others		8,122		9,139		16,801		17,364
Total	W	6,122,223		4,329,254		11,259,241		8,271,351

130

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

18. The Nature of Expenses

The classification of expenses by nature for the three-month and six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)
	For the three-month periods ended June 30				For the six-month periods ended June 30
	2024		2023		2024			2023
Changes in inventories	W	134,406		63,021		(353,305	)		54,784
Purchases of raw materials and others		2,699,100		2,337,637		4,583,434			4,368,897
Depreciation and amortization		839,525		534,276		1,614,758			1,078,057
Outsourcing		1,538,303		1,553,837		3,759,187			3,153,424
Labor		633,862		624,157		1,295,072			1,255,305
Supplies and others		156,066		165,713		313,598			327,265
Utility		250,542		204,409		502,146			413,357
Fees and commissions		88,388		96,685		192,301			204,543
Shipping		15,615		9,400		30,843			18,386
Advertising		16,410		17,719		30,689			35,383
Warranty		26,593		17,287		24,304			22,934
Travel		10,380		13,581		23,835			25,666
Taxes and dues		18,841		17,072		38,168			33,492
Others		180,610		230,947		472,631			451,299
Total	W	6,608,641		5,885,741		12,527,661			11,442,792

Total expenses consist of cost of sales, selling, administrative, research and development expenses and other non-operating expenses, excluding foreign exchange differences.

131

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

19. Selling and Administrative Expenses

Details of selling and administrative expenses for the three-month and six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)
	For the three-month periods ended June 30				For the six-month periods ended June 30
	2024		2023		2024		2023
Salaries	W	55,758		61,068		117,431		123,856
Expenses related to defined benefit plans		5,331		5,795		10,706		11,536
Other employee benefits		12,670		13,178		25,211		26,696
Shipping		5,269		4,647		10,648		8,579
Fees and commissions		31,399		39,505		80,176		85,069
Depreciation and amortization		39,152		40,472		77,219		77,899
Taxes and dues		1,289		2,358		2,393		3,368
Advertising		16,410		17,719		30,689		35,383
Warranty		26,593		17,287		24,304		22,934
Insurance		2,509		2,246		4,654		4,764
Travel		1,803		2,746		4,510		6,597
Training		1,701		1,877		5,310		5,567
Others		14,533		11,729		28,219		27,988
Total	W	214,417		220,627		421,470		440,236

132

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

20. Other Non-operating Income and Other Non-operating Expenses

(a) Details of other non-operating income for the three-month and six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)
	For the three-month periods ended June 30				For the six-month periods ended June 30
	2024		2023		2024		2023
Foreign currency gain	W	268,477		180,722		605,708		429,062
Gain on disposal of property, plant and equipment		38,725		6,883		43,978		22,600
Gain on disposal of intangible assets		25		470		25		470
Reversal of impairment loss on property, plant and equipment		3,697		—		3,697		—
Reversal of impairment loss on intangible assets		14		—		14		122
Rental income		447		489		897		983
Others		127		3,148		978		3,642
Total	W	311,512		191,712		655,297		456,879

(b) Details of other non-operating expenses for the three-month and six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)
	For the three-month periods ended June 30				For the six-month periods ended June 30
	2024		2023		2024		2023
Foreign currency loss	W	396,528		264,624		945,015		680,172
Loss on disposal of property, plant and equipment		23,471		21,560		40,262		54,558
Impairment loss on property, plant and equipment		4,438		1,250		71,227		4,947
Loss on disposal of intangible assets		157		51		350		55
Impairment loss on intangible assets		—		19,373		49,996		21,802
Others		471		12,709		3,884		12,743
Total	W	425,065		319,567		1,110,734		774,277

133

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

21. Finance Income and Finance Costs

Finance income and costs recognized in profit or loss for the three-month and six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)
	For the three-month periods ended June 30				For the six-month periods ended June 30
	2024		2023		2024		2023
Finance income
Interest income	W	5,825		3,888		8,805		8,508
Dividend income		219,667		1,871,996		220,337		1,887,196
Foreign currency gain		6,329		24,148		18,009		51,490
Gain on transaction of derivatives		98,047		56,165		183,219		85,090
Gain on valuation of derivatives		5,257		—		65,041		266,460
Others		1,885		1,782		3,786		3,505
Total	W	337,010		1,957,979		499,197		2,302,249
Finance costs
Interest expense	W	176,026		95,997		322,885		170,212
Foreign currency loss		145,700		27,935		289,992		136,212
Loss on sale of trade accounts and notes receivable		19		—		228		230
Loss on valuation of financial assets at fair value through profit or loss		—		—		—		7,776
Loss on valuation of derivatives		1,375		8,456		2,082		220,018
Others		2,675		3,156		5,415		3,792
Total	W	325,795		135,544		620,602		538,240

134

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

22. Income Tax Benefit

(a) Details of income tax benefit for the three-month and six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)
	For the three-month periods ended June 30						For the six-month periods ended June 30
	2024			2023			2024			2023
Current tax expense	W	11,223			84,068			11,687			84,261
Deferred tax benefit		(38,235	)		(348,103	)		(281,578	)		(766,302	)
Income tax benefit	W	(27,012	)		(264,035	)		(269,891	)		(682,041	)

(b) Deferred tax assets and liabilities:

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced when sufficient estimated future taxable income is not probable to realize part or all of that deferred tax assets. The Company’s deferred tax assets and liabilities may differ from actual refundable or payable amount.

Deferred tax assets and liabilities as of June 30, 2024 and December 31, 2023 are attributable to the following:

(In millions of won)	Assets				Liabilities						Total
	June 30, 2024		December 31, 2023		June 30, 2024			December 31, 2023			June 30, 2024			December 31, 2023
Other accounts receivable, net	W	—		—		(22	)		(61	)		(22	)		(61	)
Inventories, net		32,617		28,607		—			—			32,617			28,607
Defined benefits assets, net		—		—		(74,195	)		(89,753	)		(74,195	)		(89,753	)
Accrued expenses		81,071		93,511		—			—			81,071			93,511
Property, plant and equipment		384,394		389,828		—			—			384,394			389,828
Intangible assets		31,549		10,504		—			—			31,549			10,504
Provisions		33,645		39,586		—			—			33,645			39,586
Subsidiaries and associates		89,033		89,033		(10,839	)		(10,839	)		78,194			78,194
Other temporary differences		20,408		22,977		(8,559	)		(11,444	)		11,849			11,533
Tax loss carryforwards		2,937,695		2,677,340		—			—			2,937,695			2,677,340
Tax credit carryforwards		153,555		148,215		—			—			153,555			148,215
Deferred tax assets (liabilities)	W	3,763,967		3,499,601		(93,615	)		(112,097	)		3,670,352			3,387,504

(c) Global Minimum Tax

Under Pillar Two legislation, the Company is liable to pay a top-up tax for the difference between the GloBE effective tax rate per jurisdiction and the 15% minimum rate. The Company has assessed its impact of the Pillar Two legislation on its financial statements. As a result of the assessment, the Company has no current tax expenses related to Pillar Two legislation for the six-month period ended June 30, 2024.

.

135

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

23. Earnings (Loss) per Share

(a) Basic earnings (loss) per share for the three-month and six-month periods ended June 30, 2024 and 2023 are as follows:

(In won and number of shares)
	For the three-month periods ended June 30					For the six-month periods ended June 30
	2024			2023		2024			2023
Profit (loss) for the period	W	(533,207,452,957	)		457,070,561,277		(1,409,652,231,123	)		(948,683,688,458	)
Weighted-average number of common stocks outstanding		500,000,000			380,884,673		442,188,801			380,884,673
Basic earnings (loss) per share	W	(1,066	)		1,200		(3,188	)		(2,491	)

Due to paid-in capital increase during the three-month period ended March 31, 2024, the number of outstanding shares has increased. The weighted-average number of common shares outstanding for previous period has been adjusted considering a bonus element in a rights issue to existing shareholders during the three-month period ended March 31, 2024.

(b) Diluted Earnings (Loss) per share

The Company has no potential dilutive ordinary shares, and accordingly, basic earnings (loss) per share is identical to diluted earnings (loss) per share.

136

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

24. Financial Risk Management

The Company is exposed to credit risk, liquidity risk and market risk. The Company identifies and analyzes such risks, and controls are implemented under a risk management system to monitor and manage these risks at below an acceptable level.

(a) Market risk

Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and equity prices will affect the Company’s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimizing the return.

(i) Currency risk

The Company is exposed to currency risk on sales, purchases and borrowings that are denominated in a currency other than the functional currency of the Company, Korean won (KRW). The currencies in which these transactions primarily are denominated are USD, JPY, etc.

Interest on borrowings is accrued in the currency of the borrowing. Generally, borrowings are denominated in currencies that match the cash flows generated by the underlying operations of the Company, primarily KRW and USD.

The Company adopts policies to ensure that its net exposure is kept to a manageable level by buying or selling foreign currencies at spot rates when necessary to address short-term imbalances. In respect of monetary assets and liabilities denominated in foreign currencies, the Company manages currency risk through continuously managing the position of foreign currencies, measuring the currency risk and, if necessary, using derivatives such as currency forwards, currency swap and others.

137

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

24. Financial Risk Management, Continued

i) Exposure to currency risk

The Company’s exposure to primarily foreign currency risk based on notional amounts as of June 30, 2024 and December 31, 2023 is as follows:

(In millions)	Net exposure
	June 30, 2024			December 31, 2023
USD		(4,062	)		(3,898	)
JPY		(14,165	)		(16,840	)

Net exposure is the difference between foreign currency assets and liabilities and it includes derivatives assets and liabilities from cross currency interest rate swap contracts and forward exchange contracts.

Cross currency interest rate swap contracts, USD 400 million (2023: USD 500 million) and CNY 726 million (2023: CNY 345 million) were entered into to manage currency risk with respect to foreign currency denominated borrowings and USD 1,205 million (2023: USD 1,430 million) were entered into to manage currency risk and interest rate risk with respect to foreign currency denominated borrowings and bonds.

Forward exchange contracts, USD 1,050 million (2023: USD 1,200 million) were entered into to manage currency risk with respect to advances received in foreign currency.

138

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

24. Financial Risk Management, Continued

Average exchange rates applied for the six-month periods ended June 30, 2024 and 2023 and the exchange rates at June 30, 2024 and December 31, 2023 are as follows:

(In won)	Average rate				Reporting date spot rate
	2024		2023		June 30, 2024		December 31, 2023
USD		1,349.50		1,295.29		1,389.20		1,289.40
JPY		8.88		9.62		8.64		9.13

ii) Sensitivity analysis

A weaker won, as indicated below, against the following currencies which comprise the Company’s assets or liabilities denominated in a foreign currency as of June 30, 2024 and December 31, 2023, would have increased (decreased) equity and profit or loss by the amounts shown below. This analysis is based on foreign currency exchange rate variances that the Company considers to be reasonably possible at the end of the reporting period. The analysis assumes that all other variables, in particular interest rates, would remain constant. The changes in equity and profit or loss would have been as follows:

(In millions of won)	June 30, 2024						December 31, 2023
	Equity			Profit or loss			Equity			Profit or loss
USD (5 percent weakening)	W	(217,537	)		(217,537	)	W	(193,758	)		(193,758	)
JPY (5 percent weakening)		(4,718	)		(4,718	)		(5,925	)		(5,925	)

A stronger won against the above currencies as of June 30, 2024 and December 31, 2023 would have had the equal but opposite effect on the above currencies to the amounts shown above, on the basis that all other variables remain constant.

iii) Fair value hedging derivatives

In relation to advances received that are dominated in foreign currency, the Company uses derivative instruments to hedge change of fair value due to foreign currency exchange rate changes. As of June 30, 2024, there is no ineffective portion of the gain or loss on valuation of derivatives to which change of fair value hedging accounting has been applied and gain on valuation amounting to W110,267 million, respectively, (contracted buying amount: USD 1,050 million, contracted exchange rate: W1,289.11~1,310.08) are recognized in profit or loss.

139

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

24. Financial Risk Management, Continued

(ii) Interest rate risk

Interest rate risk arises principally from the Company’s variable interest-bearing bonds and borrowings. The Company establishes and applies its policy to reduce uncertainty arising from fluctuations in interest rates and to minimize finance cost and manages interest rate risk by monitoring of trends of fluctuations in interest rate and establishing plan for countermeasures. Meanwhile, the Company entered into cross currency interest rate swap contracts amounting to USD 1,205 million (W1,673,986 million) and interest rate swap contracts amounting to W960,000 million in notional amount to manage interest rate risk with respect to variable interest bearing borrowings.

i) Profile

The interest rate profile of the Company’s interest-bearing financial instruments as of June 30, 2024 and December 31, 2023 is as follows:

(In millions of won)
	June 30, 2024			December 31, 2023
Fixed rate instruments
Financial assets	W	118,597			354,502
Financial liabilities		(5,328,057	)		(6,156,590	)
Total	W	(5,209,460	)		(5,802,088	)
Variable rate instruments
Financial liabilities	W	(5,775,526	)		(3,545,515	)

ii) Equity and profit or loss sensitivity analysis for variable rate instruments

As of June 30, 2024 and December 31, 2023, a change of 100 basis points in interest rates at the reporting date would have increased (decreased) equity and profit or loss by the amounts shown below for the respective following 12 month periods. This analysis assumes that all other variables, in particular foreign currency rates, remain constant.

(In millions of won)
	Equity					Profit or loss
	1%p increase			1%p decrease		1%p increase			1%p decrease
June 30, 2024
Variable rate instruments (*)	W	(44,518	)		44,518		(44,518	)		44,518
December 31, 2023
Variable rate instruments (*)	W	(27,329	)		27,329		(27,329	)		27,329

(*) Financial instruments related to non-hedging interest rate swap are included in the calculation.

140

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

24. Financial Risk Management, Continued

(b) Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company’s receivables from customers.

The Company’s exposure to credit risk of trade and other receivables is influenced mainly by the individual characteristics of each customer. However, management believes that the default risk of the country in which each customer operates, do not have a significant influence on credit risk since the majority of the customers are global electronic appliance manufacturers operating in global markets.

The Company establishes credit limits for each customer and each new customer is analyzed quantitatively and qualitatively before determining whether to utilize third party guarantees, insurance or factoring as appropriate.

In relation to the impairment of financial assets subsequent to initial recognition, the Company recognizes the changes in expected credit loss (“ECL”) in profit or loss at each reporting date.

The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)
	June 30, 2024		December 31, 2023
Financial assets at amortized cost
Cash equivalents	W	98,597		334,502
Deposits in banks		20,011		20,011
Trade accounts and notes receivable, net		4,129,402		3,077,901
Non-trade receivables		156,991		108,769
Accrued income		7,257		242
Deposits		9,432		8,538
Loans		50,604		59,884
Subtotal	W	4,472,294		3,609,847
Financial assets at fair value through profit or loss
Convertible securities	W	1,838		1,838
Derivatives		180,740		169,703
Subtotal	W	182,578		171,541
Financial assets effective for fair value hedging
Derivatives		74,216		—
Total	W	4,729,088		3,781,388

141

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

24. Financial Risk Management, Continued

In addition to the financial assets above, as of June 30, 2024, the Company provides payment guarantees to LG Display Vietnam Haiphong, Co., Ltd. in connection with the principal amount of credit facilities amounting to USD 1,332 million (W1,849,951 million) (see note 15).

Trade accounts and notes receivable are insured in order for the Company to manage credit risk if they do not meet the Company’s internal credit ratings. Uninsured trade accounts and notes receivable are managed by continuous monitoring of internal credit rating standards established by the Company and seeking insurance coverage, if necessary.

(c) Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or other financial assets. The Company’s approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company’s reputation.

The Company has historically been able to satisfy its cash requirements from cash flows from operations and debt and equity financing. To the extent that the Company does not generate sufficient cash flows from operations to meet its capital requirements, the Company may rely on other financing activities, such as long-term borrowings and offerings of debt instruments, equity-linked and other debt instruments. In addition, the Company maintains a line of credit with various banks.

142

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

24. Financial Risk Management, Continued

The following are the contractual maturities of financial liabilities, including estimated interest payments, as of June 30, 2024.

(In millions of won)			Contractual cash flows in
	Carrying amount		Total			6 months or less			6-12 months			1-2 years			2-5 years			More than 5 years
Non-derivative financial liabilities
Borrowings	W	9,684,641		10,467,838			1,708,852			4,267,672			2,285,324			2,155,015			50,975
Bonds		1,418,942		1,497,827			319,330			631,767			206,837			339,893			—
Trade accounts and notes payable		8,940,796		8,940,796			8,663,285			277,511			—			—			—
Other accounts payable		1,167,249		1,170,088			1,074,051			96,037			—			—			—
Other accounts payable (enterprise procurement cards) (*1)		657,694		657,694			153,281			504,413			—			—			—
Long-term other accounts payable		314,483		363,985			—			—			94,480			181,985			87,520
Payment guarantee (*2)		18,448		2,114,604			2,114,604			—			—			—			—
Security deposits received		155,342		188,156			2,730			130			2,820			182,476			—
Lease liabilities		13,900		14,660			3,659			4,655			3,665			2,504			177
Derivative financial liabilities
Derivatives	W	11,603		(15,025	)		(17,218	)		1,493			2,215			(1,515	)		—
Cash outflow		—		387,810			35,057			50,808			139,040			162,905			—
Cash inflow		—		(402,835	)		(52,275	)		(49,315	)		(136,825	)		(164,420	)		—
Total	W	22,383,098		25,400,623			14,022,574			5,783,678			2,595,341			2,860,358			138,672

(*1) Represents liabilities payable to credit card companies for utility expenses and others paid using enterprise procurement cards. The Company presented the payable to credit card companies as other accounts payable and disclosed related cash flows as operating and investing activities since the Company is using the enterprise procurement cards through agreements with suppliers for transactions arising from purchasing of goods and services, the payment term is within a year from the purchase, as part of the normal operating cycle, and no collateral is provided.

Change in liabilities related to procurement cards for the six-month period ended June 30, 2024 is as follows:

(In millions of won)
	January 1, 2024		Change			June 30, 2024
Other accounts payable (enterprise procurement cards)	W	1,092,180		(434,486	)		657,694

(*2) Contractual cash flows of payment guarantee represents the maximum amount to the earliest period that the Company could be required to pay the guarantee amount.

143

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

24. Financial Risk Management, Continued

The following are the contractual maturities of financial liabilities, including estimated interest payments, as of December 31, 2023.

(In millions of won)			Contractual cash flows in
	Carrying amount		Total			6 months or less			6-12 months			1-2 years			2-5 years			More than 5 years
Non-derivative financial liabilities
Borrowings	W	8,213,962		8,868,714			2,482,724			1,313,880			3,351,277			1,720,833			—
Bonds		1,488,143		1,597,741			111,169			319,011			642,996			524,565			—
Trade accounts and notes payable		8,993,964		8,993,964			8,788,397			205,567			—			—			—
Other accounts payable		1,242,109		1,244,637			1,178,845			65,792			—			—			—
Other accounts payable (enterprise procurement cards) (*1)		1,092,180		1,092,180			938,899			153,281			—			—			—
Long-term other accounts payable		343,845		398,451			—			—			114,783			175,358			108,310
Payment guarantee (*2)		20,613		2,182,973			2,182,973			—			—			—			—
Security deposits received		153,316		190,275			3,120			4,550			1,040			181,565			—
Lease liabilities		14,400		15,014			6,145			5,953			1,838			916			162
Derivative financial liabilities
Derivatives	W	63,526		45,705			18,781			3,988			12,474			10,462			—
Cash outflow		—		1,385,858			657,325			47,527			510,676			170,330			—
Cash inflow		—		(1,340,153	)		(638,544	)		(43,539	)		(498,202	)		(159,868	)		—
Fair value hedging derivatives		36,052		36,052			1,514			5,878			20,282			8,378			—
Total	W	21,662,110		24,665,706			15,712,567			2,077,900			4,144,690			2,622,077			108,472

(*1) Represents liabilities payable to credit card companies for purchase of raw material and others paid using enterprise procurement cards. The Company presented the payable to credit card companies as other accounts payable and disclosed related cash flows as operating and investing activities since the Company is using the enterprise procurement cards through agreements with suppliers for transactions arising from purchasing of goods and services, the payment term is within a year from the purchase, as part of the normal operating cycle, and no collateral is provided.

Change in liabilities related to procurement cards for the year ended December 31, 2023 is as follows:

(In millions of won)
	January 1, 2023		Change		December 31, 2023
Other accounts payable (enterprise procurement cards)	W	935,739		156,441		1,092,180

(*2) Contractual cash flows of payment guarantee represents the maximum amount to the earliest period that the Company could be required to pay the guarantee amount.

It is not expected that the cash flows included in the maturity analysis could occur significantly earlier, or at significantly different amounts.

144

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

24. Financial Risk Management, Continued

(d) Capital management

Management’s policy is to maintain a capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business. Liabilities to equity ratio, net borrowings to equity ratio and other financial ratios are used by management to achieve an optimal capital structure. Management also monitors the return on capital as well as the level of dividends to ordinary shareholders.

(In millions of won)
	June 30, 2024		December 31, 2023
Total liabilities	W	24,654,051		24,050,857
Total equity		5,548,448		5,681,555
Cash and deposits in banks (*1)		118,597		354,502
Borrowings (including bonds)		11,103,583		9,702,105
Total liabilities to equity ratio		444%		423%
Net borrowings to equity ratio (*2)		198%		165%

(*1) Cash and deposits in banks consist of cash and cash equivalents and current deposits in banks.

(*2) Net borrowings to equity ratio is calculated by dividing total borrowings (including bonds and excluding lease liabilities and others) less cash and current deposits in banks by total equity.

145

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

24. Financial Risk Management, Continued

(e) Determination of fair value

(i) Measurement of fair value

A number of the Company’s accounting policies and disclosures require the determination of fair value, for both financial and non-financial assets and liabilities. Fair values have been determined for measurement and/or disclosure purposes based on the following methods. When applicable, further information about the assumptions made in determining fair values is disclosed in the notes specific to that asset or liability.

i) Current assets and liabilities

The carrying amounts approximate their fair value because of the short maturity of these instruments.

ii) Trade receivables and other receivables

The fair value of trade and other receivables is estimated as the present value of future cash flows, discounted at the market rate of interest at the reporting date. This fair value is determined for disclosure purposes. The carrying amounts of current receivables approximate their fair value.

iii) Investments in equity and debt securities

The fair value of marketable financial assets at FVTPL and FVOCI is determined by reference to their quoted closing bid price at the reporting date. The fair value of non-marketable instruments is determined using the results of fair value assessment performed by external valuation institutions and others.

iv) Non-derivative financial liabilities

Fair value, which is determined for disclosure purposes, except for the liabilities at FVTPL, is calculated based on the present value of future principal and interest cash flows, discounted at the market rate of interest at the reporting date.

v) Derivatives

The inputs used to measure the fair value of currency forward and cross currency interest rate swap are calculated based on the exchange rates and interest rates observable in the market at the reporting date.

146

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

24. Financial Risk Management, Continued

(ii) Fair values versus carrying amounts

The fair values of financial assets and liabilities, together with the carrying amounts shown in the condensed separate interim statements of financial position as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)	June 30, 2024					December 31, 2023
	Carrying amounts		Fair values			Carrying amounts		Fair values
Financial assets at amortized cost
Cash and cash equivalents	W	98,597		(*1	)		334,502		(*1	)
Deposits in banks		20,011		(*1	)		20,011		(*1	)
Trade accounts and notes receivable		4,129,402		(*1	)		3,077,901		(*1	)
Non-trade receivables		156,991		(*1	)		108,769		(*1	)
Accrued income		7,257		(*1	)		242		(*1	)
Deposits		9,432		(*1	)		8,538		(*1	)
Loans		50,604		(*1	)		59,884		(*1	)
Financial assets at fair value through profit or loss
Equity securities	W	3,967		3,967			3,967		3,967
Convertible securities		1,838		1,838			1,838		1,838
Derivatives		180,740		180,740			169,703		169,703
Financial assets effective for fair value hedging
Derivatives	W	74,216		74,216			—		—
Financial liabilities at fair value through profit or loss
Derivatives	W	11,603		11,603			63,526		63,526
Financial liabilities effective for fair value hedging
Derivatives	W	—		—			36,052		36,052
Financial liabilities at amortized cost
Borrowings	W	9,684,641		9,749,130			8,213,962		8,248,441
Bonds		1,418,942		1,421,845			1,488,143		1,479,725
Trade accounts and notes payable		8,940,796		(*1	)		8,993,964		(*1	)
Other accounts payable		2,139,426		(*1	)		2,678,134		(*1	)
Payment guarantee liabilities		18,448		(*1	)		20,613		(*1	)
Security deposits received		155,342		(*1	)		153,316		(*1	)
Other financial liabilities
Lease liabilities	W	13,900		(*2	)		14,400		(*2	)

(*1) Excluded from disclosures as the carrying amount approximates fair value.

(*2) Excluded from the fair value disclosures in accordance with Korean IFRS 1107 ‘Financial Instruments: Disclosures’.

147

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

24. Financial Risk Management, Continued

(iii) Fair values of financial assets and liabilities

i) Fair value hierarchy

Financial instruments carried at fair value are categorized into different levels in a fair value hierarchy based on the inputs used in the valuation techniques. The different levels have been defined as follows:

• Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities

• Level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly

• Level 3: inputs for the asset or liability that are not based on observable market data

ii) Valuation techniques and inputs for Assets and Liabilities measured by the fair value hierarchy

Fair value hierarchy classifications of the financial instruments that are measured at fair value as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)	June 30, 2024						Valuation technique	Input
Classification	Level 1		Level 2		Level 3
Financial assets at fair value through profit or loss
Equity securities	W	—		—		3,967	Discounted cash flow, etc.	Discount rate and Estimated cash flow, etc.
Convertible securities		—		—		1,838	Blended discount model and binominal option pricing model	Discount rate, stock price and volatility
Derivatives		—		180,740		—	Discounted cash flow	Discount rate and Exchange rate
Financial assets effective for fair value hedging
Derivatives		—		74,216		—	Discounted cash flow	Discount rate and Exchange rate
Financial liabilities at fair value through profit or loss
Derivatives	W	—		11,603		—	Discounted cash flow	Discount rate and Exchange rate
Financial liabilities effective for fair value hedging
Derivatives		—		—		—	Discounted cash flow	Discount rate and Exchange rate

148

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

24. Financial Risk Management, Continued

(In millions of won)	December 31, 2023						Valuation    technique	Input
Classification	Level 1		Level 2		Level 3
Financial assets at fair value through profit or loss
Equity securities	W	—		—		3,967	Discounted cash flow, etc.	Discount rate and Estimated cash flow, etc.
Convertible securities		—		—		1,838	Blended discount model and binominal option pricing model	Discount rate, stock price and volatility
Derivatives		—		169,703		—	Discounted cash flow	Discount rate and Exchange rate
Financial liabilities at fair value through profit or loss
Derivatives	W	—		63,526		—	Discounted cash flow	Discount rate and Exchange rate
Financial liabilities effective for fair value hedging
Derivatives		—		36,052		—	Discounted cash flow	Discount rate and Exchange rate

149

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

24. Financial Risk Management, Continued

iii) Financial instruments not measured at fair value but for which the fair value is disclosed

Fair value hierarchy classifications, valuation technique and inputs for fair value measurements of the financial instruments not measured at fair value but for which the fair value is disclosed as of June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)	June 30, 2024						Valuation technique		Input
Classification	Level 1		Level 2		Level 3
Liabilities
Borrowings	W	—		—		9,749,130		Discounted cash flow		Discount rate
Bonds		—		—		1,421,845		Discounted cash flow		Discount rate
(In millions of won)	December 31, 2023
Classification	Level 1		Level 2		Level 3		Valuation technique		Input
Liabilities
Borrowings	W	—		—		8,248,441		Discounted cash flow		Discount rate
Bonds		—		—		1,479,725		Discounted cash flow		Discount rate

iv) The interest rates applied for determination of the above fair value as of June 30, 2024 and December 31, 2023 are as follows:

	June 30, 2024		December 31, 2023
Borrowings, bonds and others		3.96%~4.44%		4.60%~5.02%

v) There is no transfer between Level 1, Level 2 and Level 3 for the six-month periods ended June 30, 2024 and 2023, and the changes in financial assets classified as Level 3 of fair value measurements for the six-month periods ended June 30, 2024 and 2023 is as follows:

(In millions of won) Classification	January 1, 2024		Valuation		June 30, 2024
Equity securities	W	3,967		—		3,967
Convertible securities		1,838		—		1,838

(In millions of won) Classification	January 1, 2023		Valuation			June 30, 2023
Equity securities	W	10,484		(7,776	)		2,708
Convertible securities		1,797		—			1,797

150

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

25. Cash flow information

(a) The breakdown of the cash generated from the operation for the six-month periods ended June 30, 2024 and 2023 is as follows:

(In millions of won)
	2024			2023
Loss for the period	W	(1,409,652	)		(948,684	)
Adjustments for:
Income tax benefit (Note 22)	W	(269,891	)		(682,041	)
Depreciation and amortization (Note 18)		1,614,758			1,078,057
Gain on foreign currency translation		(177,088	)		(100,576	)
Loss on foreign currency translation		375,966			194,838
Expenses related to defined benefit plans (Note 13)		66,803			73,768
Gain on disposal of property, plant and equipment		(43,978	)		(22,600	)
Loss on disposal of property, plant and equipment		40,262			54,558
Impairment loss on property, plant and equipment		71,227			4,947
Reversal of impairment loss on property, plant and equipment		(3,697	)		—
Gain on disposal of intangible assets		(25	)		(470	)
Loss on disposal of intangible assets		350			55
Impairment loss on intangible assets		49,996			21,802
Reversal of impairment loss on intangible assets		(14	)		(122	)
Expense on increase (decrease) of provisions		24,304			22,934
Finance income		(493,613	)		(2,265,657	)
Finance costs		611,323			531,755
Other		(6,373	)		(6,758	)
Changes in:
Trade accounts and notes receivable	W	(1,158,380	)		(972,361	)
Other accounts receivable		(65,922	)		53,935
Inventories		(353,305	)		54,784
Other current assets		(20,245	)		51,387
Other non-current assets		(4,560	)		(7,119	)
Proceeds from settlement of derivatives		10,733			—
Trade accounts and notes payable		(310,806	)		(244,252	)
Other accounts payable		(183,526	)		(278,693	)
Accrued expenses		1,434			(93,239	)
Provisions		(51,226	)		(71,777	)
Advances received		(8,164	)		(7,357	)
Other current liabilities		(23,276	)		(33,519	)
Defined benefit liabilities, net		(7,459	)		(26,948	)
Long-term advances received		—			1,580,222
Other non-current liabilities		1,880			2,742
Cash generated from operations	W	(1,722,164	)		(2,036,389	)

151

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

25. Cash flow information, Continued

(b) Changes in liabilities arising from financing activities for the six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)
						Non-cash transactions
	January 1, 2024		Cash flows from financing activities			Gain or loss on foreign currency translation		Interest expense		Others			June 30, 2024
Short-term borrowings	W	1,428,213		1,391,254			108,285		—		—			2,927,752
Payment guarantee liabilities		20,613		3,739			—		—		(5,904	)		18,448
Long-term borrowings		6,785,749		(198,881	)		167,860		2,161		—			6,756,889
Bonds		1,488,143		(80,000	)		9,938		861		—			1,418,942
Lease liabilities		14,400		(7,012	)		—		—		6,512			13,900
Total	W	9,737,118		1,109,100			286,083		3,022		608			11,135,931

(In millions of won)
						Non-cash transactions
	January 1, 2023		Cash flows from financing activities			Gain or loss on foreign currency translation		Interest expense		Others		June 30, 2023
Short-term borrowings	W	1,952,289		157,285			19,492		—		—		2,129,066
Payment guarantee liabilities		19,241		2,206			—		—		3,464		24,911
Long-term borrowings		5,660,105		1,169,774			95,252		1,509		2,867		6,929,507
Bonds		1,448,746		35,276			4,567		841		167		1,489,597
Lease liabilities		5,952		(6,485	)		—		—		11,533		11,000
Total	W	9,086,333		1,358,056			119,311		2,350		18,031		10,584,081

152

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

26. Related Parties and Others

(a) Related parties

Related parties as of June 30, 2024 are as follows:

Classification	Description
Subsidiaries(*)	LG Display America, Inc. and others
Associates(*)	Paju Electric Glass Co., Ltd. and others
Entity that has significant influence over the Company	LG Electronics Inc.
Subsidiaries of the entity that has significant influence over the Company	Subsidiaries of LG Electronics Inc.

(*) Details of subsidiaries and associates are described in Note 8.

153

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

26. Related Parties and Others, Continued

(b) Major transactions with related parties for the six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)	2024
					Purchase and others
	Sales and     others		Dividend   income		Purchase of raw   material and   others		Acquisition of   property, plant   and equipment		Others
Subsidiaries
LG Display America, Inc.	W	6,467,124		—		—		—		18
LG Display Japan Co., Ltd.		468,831		—		—		—		175
LG Display Germany GmbH		662,116		—		—		—		14,133
LG Display Taiwan Co., Ltd.		1,244,226		—		—		—		989
LG Display Nanjing Co., Ltd.		48,523		—		824,665		—		6,544
LG Display Shanghai Co., Ltd.		275,466		—		—		—		7
LG Display Guangzhou Co., Ltd.		13,575		—		716,543		—		7,160
LG Display Shenzhen Co., Ltd.		330,283		—		—		—		—
LG Display Yantai Co., Ltd.		—		—		115,149		—		809
LG Display (China) Co., Ltd.		1,074		219,667		658,301		—		1,693
LG Display Singapore Pte. Ltd.		706,674		—		—		—		27,285
L&T Display Technology (Fujian) Limited		61,140		—		—		—		32
Nanumnuri Co., Ltd.		136		470		—		—		11,986
LG Display Guangzhou Trading Co., Ltd.		200,911		—		—		—		—
LG Display Vietnam Haiphong Co., Ltd.		94,038		—		1,530,875		—		17,602
Suzhou Lehui Display Co., Ltd.		54,419		—		1,829		—		—
LG Display High-Tech (China) Co., Ltd.		407		—		1,147,779		—		1,128
Subtotal	W	10,628,943		220,137		4,995,141		—		89,561

154

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

26. Related Parties and Others, Continued

(In millions of won)	2024
					Purchase and others
	Sales and   Others		Dividend  income		Purchase of raw  material and others		Acquisition of property, plant  and equipment		Others
Associates
WooRee E&L Co., Ltd.	W	—		—		297		—		15
AVATEC Co., Ltd.		—		200		45,294		—		2,743
Paju Electric Glass Co., Ltd.		—		—		116,875		—		4,043
YAS Co., Ltd.		—		—		4,217		1,160		3,278
Material Science Co., Ltd.		—		—		—		—		888
Subtotal	W	—		200		166,683		1,160		10,967
Entity that has significant influence over the Company
LG Electronics Inc.	W	182,594		—		6,154		34,083		74,007

155

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

26. Related Parties and Others, Continued

(In millions of won)	2024
					Purchase and others
	Sales and   others		Dividend  income		Purchase of raw  material and others		Acquisition of property, plant  and equipment		Others
Subsidiaries of the entity that has significant influence over the Company
LG Electronics India Pvt. Ltd.	W	24,190		—		—		—		179
LG Electronics Vietnam Haiphong Co., Ltd.		89,714		—		—		—		4,231
LG Electronics Reynosa S.A. DE C.V.		11,758		—		—		—		394
LG Electronics do Brasil Ltda.		8,025		—		—		—		210
LG Electronics RUS, LLC		—		—		—		—		4,005
LG Electronics Egypt S.A.E		9,565		—		—		—		15
LG Innotek Co., Ltd.		5,016		—		1		—		41,122
P.T. LG Electronics Indonesia		13,033		—		—		—		588
Others		5		—		—		—		8,141
Subtotal	W	161,306		—		1		—		58,885
Total	W	10,972,843		220,337		5,167,979		35,243		233,420

156

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

26. Related Parties and Others, Continued

(In millions of won)	2023
					Purchase and others
	Sales and   others		Dividend  income		Purchase of raw  material and others		Acquisition of property, plant  and equipment		Others
Subsidiaries
LG Display America, Inc.	W	4,727,413		—		—		—		4
LG Display Japan Co., Ltd.		414,709		—		—		—		235
LG Display Germany GmbH		505,849		—		—		—		34,318
LG Display Taiwan Co., Ltd.		700,902		—		—		—		730
LG Display Nanjing Co., Ltd.		51,213		425,666		803,410		—		10,215
LG Display Shanghai Co., Ltd.		224,715		—		—		—		—
LG Display Guangzhou Co., Ltd.		16,489		1,042,837		651,833		—		8,862
LG Display Shenzhen Co., Ltd.		151,450		—		—		—		—
LG Display Yantai Co., Ltd.		8		345,527		93,221		—		1,194
LG Display (China) Co., Ltd.		321		57,966		560,465		—		713
LG Display Singapore Pte. Ltd.		464,954		—		—		—		81
L&T Display Technology (Fujian) Limited		61,075		—		—		—		89
Nanumnuri Co., Ltd.		119		—		—		—		11,825
LG Display Guangzhou Trading Co., Ltd.		172,463		—		—		—		—
LG Display Vietnam Haiphong Co., Ltd.		11,407		—		1,221,981		—		14,648
Suzhou Lehui Display Co., Ltd.		40,283		—		29,011		—		17
LG Display High-Tech (China) Co., Ltd.		4,530		—		1,598,142		—		2,301
Subtotal	W	7,547,900		1,871,996		4,958,063		—		85,232

157

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

26. Related Parties and Others, Continued

(In millions of won)	2023
					Purchase and others
	Sales and   others		Dividend  income		Purchase of raw  material and others		Acquisition of property, plant  and equipment		Others
Associates	W
WooRee E&L Co., Ltd.		—		—		258		—		1
AVATEC Co., Ltd.		—		—		19,569		—		3,710
Paju Electric Glass Co., Ltd.		—		15,200		74,815		—		1,405
YAS Co., Ltd.		—		—		4,127		6,960		3,138
Material Science Co., Ltd.		—		—		—		—		59
Subtotal	W	—		15,200		98,769		6,960		8,313
Entity that has significant influence over the Company
LG Electronics Inc.	W	100,479		—		6,404		28,344		70,460

158

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

26. Related Parties and Others, Continued

(In millions of won)	2023
					Purchase and others
	Sales and   others		Dividend  income		Purchase of raw  material and others		Acquisition of property, plant  and equipment		Others
Subsidiaries of the entity that has significant influence over the Company
LG Electronics India Pvt. Ltd.	W	22,387		—		—		—		136
LG Electronics Vietnam Haiphong Co., Ltd.		253,065		—		—		—		387
LG Electronics Reynosa S.A. DE C.V.		14,973		—		—		—		357
LG Electronics do Brasil Ltda.		11,233		—		—		—		62
LG Electronics RUS, LLC		—		—		—		—		613
LG Electronics Egypt S.A.E		14,680		—		—		—		37
LG Innotek Co., Ltd.		3,186		—		14		—		49,478
P.T. LG Electronics Indonesia		13,876		—		—		—		1,169
Others		9		—		9		—		10,315
Subtotal	W	333,409		—		23		—		62,554
Total	W	7,981,788		1,887,196		5,063,259		35,304		226,559

159

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

26. Related Parties and Others, Continued

(c) Balances of receivables and payables from transaction with related parties as at June 30, 2024 and December 31, 2023 are as follows:

(In millions of won)
	Trade accounts and notes receivable and others				Trade accounts and notes payable and others
	June 30, 2024		December 31, 2023		June 30, 2024		December 31, 2023
Subsidiaries
LG Display America, Inc.	W	1,766,907		1,817,773		12		4
LG Display Japan Co., Ltd.		274,795		134,107		4		26
LG Display Germany GmbH		391,873		50,322		9,823		3,234
LG Display Taiwan Co., Ltd.		768,545		60,663		44		96
LG Display Nanjing Co., Ltd.		3,115		2,869		1,494,671		1,796,033
LG Display Shanghai Co., Ltd.		88,133		241,039		5		—
LG Display Guangzhou Co., Ltd.		1,380		205		1,661,105		1,241,145
LG Display Guangzhou Trading Co., Ltd.		165,183		287,296		—		—
LG Display Shenzhen Co., Ltd.		107,185		75,709		—		—
LG Display Yantai Co., Ltd.		—		1		144,673		228,364
LG Display (China) Co., Ltd.		2,177		2,452		772,989		451,003
LG Display Singapore Pte. Ltd.		132,502		24,171		483,886		3
L&T Display Technology (Fujian) Limited		21,380		24,690		122,089		103,501
Nanumnuri Co., Ltd.		—		—		2,458		2,316
LG Display Vietnam Haiphong Co., Ltd.		21,310		23,402		916,902		1,180,951
Suzhou Lehui Display Co., Ltd.		5,685		24,829		—		2,532
LG Display High-Tech (China) Co., Ltd.		45,131		34,268		1,602,653		1,730,516
Subtotal	W	3,795,301		2,803,796		7,211,314		6,739,724

160

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

26. Related Parties and Others, Continued

(In millions of won)
	Trade accounts and notes receivable and others				Trade accounts and notes payable and others
	June 30, 2024		December 31, 2023		June 30, 2024		December 31, 2023
Associates
WooRee E&L Co., Ltd.	W	476		695		85		645
AVATEC Co., Ltd.		—		—		5,988		4,775
Paju Electric Glass Co., Ltd.		—		—		57,130		56,136
YAS Co., Ltd.		—		—		3,631		7,875
Material Science Co., Ltd.		—		—		704		118
Subtotal	W	476		695		67,538		69,549
Entity that has significant influence over the Company
LG Electronics Inc. (*1)	W	149,717		62,027		1,060,291		1,044,258

161

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

26. Related Parties and Others, Continued

(In millions of won)
	Trade accounts and notes receivable and others				Trade accounts and notes payable and others
	June 30, 2024		December 31, 2023		June 30, 2024		December 31, 2023
Subsidiaries of the entity that has significant influence over the Company
LG Innotek Co., Ltd. (*2)	W	2,097		2,521		212,517		211,476
LG Electronics Reynosa S.A. DE C.V		2,583		3,814		44		109
LG Electronics India Pvt. Ltd.		10,807		2,013		—		35
LG Electronics Vietnam Haiphong Co., Ltd.		29,720		76,952		107		211
LG Electronics RUS, LLC		—		—		55		203
LG Electronics Egypt S.A.E		3,561		369		3		1
P.T. LG Electronics Indonesia		3,436		3,771		56		108
Others		1,581		6,122		2,677		1,811
Subtotal	W	53,785		95,562		215,459		213,954
Total	W	3,999,279		2,962,080		8,554,602		8,067,485

(*1) Trades accounts and notes payable and others for LG Electronics Inc. as of June 30, 2024 and December 31, 2023 includes long-term borrowings of W1,000,000 million (see Note 12.(3)).

(*2) Trade accounts and note payable and others for LG Innotek Co., Ltd. as of June 30, 2024 and December 31, 2023 Includes deposits received amount W180,000 million from lease agreement.

162

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

26. Related Parties and Others, Continued

(d) Significant financial transactions and others with related parties for the six-month periods ended June 30, 2024 and 2023, is as follows:

	2024
(In millions of won)	Company Name	Borrowings		Collection of loans
Subsidiary	LG Display Singapore Pte. Ltd.	W	1,989,054		—
Associates	WooRee E&L Co., Ltd		—		219

For the six-month period ended June 30, 2024, the Company contributed W5,140 million in cash for the capital increase of LG DISPLAY FUND I LLC and decreased by W81,200 million as a result of acquisition and disposal of Money Market Trust in addition to the above transactions.

	2023
(In millions of won)	Company Name	Borrowings
Entity that has significant influence over the Company	LG Electronics Inc.	W	1,000,000

The Company entered into a loan agreement with LG Electronics Inc. on March 27, 2023 for a total borrowing amount of W1,000,000 million, and received W650,000 million on March 30, 2023 and W350,000 million on April 20, 2023.

For the six-month period ended June 30, 2023, the Company contributed W2,549 million in cash for the capital increase of LG DISPLAY FUND I LLC.

163

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

26. Related Parties and Others, Continued

(e) Large Enterprise Group Transactions

According to the ‘Related Party Disclosures’ under the Korean IFRS 1024, although not included in the scope of related parties, the major transaction details with the Large Enterprise Group subsidiaries and their affiliates, as well as the amounts of receivables and payables for the six-month periods ended June 30, 2024 and 2023 and as of June 30, 2024 and December 31, 2023, in accordance with the Monopoly Regulation and Fair Trade Act, are as follows:

(In millions of won)
	For the six-month period ended June 30, 2024				June 30, 2024
	Sales and others		Purchase and others		Trade accounts and notes receivable and others		Trade accounts and notes payable and others
LG Uplus Corp.	W	105,300		1,579		—		547
LG Chem Ltd. and its subsidiaries		233		222,280		125		185,333
D&O Corp. and its subsidiaries (*1)		141		34,163		—		61,439
LG Corp. (*2)		—		28,992		7,557		7,521
LG Management Development Institute		—		13,288		—		582
LG CNS Co., Ltd. and its subsidiaries		—		67,320		—		30,047
HS AD Inc. (formerly, G2R Inc.) and its subsidiaries		—		4,314		—		1,589
Robostar Co., Ltd.		—		41		—		36
LG Household & health Care, Ltd		—		—		—		9
Total	W	105,674		371,977		7,682		287,103

(*1) Among the matters related to D&O Corp. (formerly S&I Corporation Co., Ltd.) and its subsidiaries, S&I Corporation Co., Ltd. and Xi C&A Co., Ltd. were excluded from the large corporate group as of March 19, 2024 and reflected based on the transaction amount for the three-month period ended March 31, 2024.

(*2) According to the lease agreement signed with LG Corp., the recognized lease liabilities as of June 30, 2024 are W4,458 million, and the lease liabilities are not included in the amount of ‘Trade accounts and notes payable and others’ above. The lease repayment for the six-month period ended June 30, 2024 amounts to W4,834 million.

164

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

26. Related Parties and Others, Continued

(In millions of won)
	For the six-month period ended June 30, 2023				December 31, 2023
	Sales and others		Purchase and others		Trade accounts and notes receivable and others		Trade accounts and notes payable and others
LG Uplus Corp.	W	—		1,248		—		206
LG Chem Ltd. and its subsidiaries		155		167,193		18		155,312
D&O Corp. and its subsidiaries		153		299,849		—		69,503
LG Corp. (*1)		1,891		22,832		16,261		5,575
LG Management Development Institute		—		21,885		—		543
LG CNS Co., Ltd. and its subsidiaries		—		76,890		—		89,939
HS AD Inc.(formerly, G2R Inc.) and its subsidiaries (*2)		—		9,382		—		5,687
Robostar Co., Ltd.		—		502		—		217
Total	W	2,199		599,781		16,279		326,982

(*1) According to the lease agreement signed with LG Corp., the recognized lease liabilities as of December 31, 2023 are W8,493 million, and the lease liabilities are not included in the amount of ‘Trade accounts and notes payable and others’ above. The lease repayment for the six-month period ended June 30, 2023 amounts to W 5,340 million.

(*2) G2R Inc. changed its name to HS AD Inc. on July 1, 2023.

165

LG DISPLAY CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2024 and 2023 (Unaudited), and December 31, 2023

26. Related Parties and Others, Continued

(f) Key management personnel compensation

Compensation costs of key management for six-month periods ended June 30, 2024 and 2023 are as follows:

(In millions of won)
	2024		2023
Short-term benefits	W	1,197		1,139
Expenses related to the defined benefit plan		483		177
	W	1,680		1,316

Key management refers to the registered directors who have significant control and responsibilities over the Company’s operations and business.

(g) At the end of the reporting period, the Company did not set an allowance for doubtful accounts on the balance of receivables for related parties.

166

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	LG Display Co., Ltd.
	(Registrant)
Date: August 14, 2024	By:	/s/ Kyu Dong Kim
		(Signature)
	Name:	Kyu Dong Kim
	Title:	Vice President / Finance & Risk Management Division