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Foreign Currency Loss, Net
3 Months Ended
Mar. 31, 2023
Foreign Currency Loss, Net [Abstract]  
Foreign Currency Loss, Net
11. Foreign Currency Loss, Net


Net foreign currency gain or loss includes non-cash translation gain or loss associated with intercompany balances. A substantial portion of the Company’s net foreign currency gain or loss is non-cash translation gain or loss associated with intercompany long-term loans to the Company’s Korean subsidiary. The loans are denominated in U.S. dollars and are affected by changes in the exchange rate between the Korean won and the U.S. dollar. As of March 31, 2023 and December 31, 2022, the outstanding intercompany loan balances including accrued interest between the Korean subsidiary and the Dutch subsidiary were $301,860 thousand and $310,988 thousand, respectively. The Korean won to U.S. dollar exchange rates were 1,303.8:1 and 1,267.3:1 using the first base rate as of March 31, 2023 and December 31, 2022, respectively, as quoted by the KEB Hana Bank.