Related Parties and Others

12 Months Ended

Dec. 31, 2022

Textblock 1 [Abstract]

Related Parties and Others

29.Related Parties and Others

(a)Related parties

Related parties as of December 31, 2022 are as follows:

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

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

(b)Significant transactions such as sales of goods and purchases of raw material and outsourcing service and others, which occurred in the normal course of business with related parties for the years ended December 31, 2020, 2021 and 2022 are as follows:

29.Related Parties and Others. Continued

(In millions of won)	2020
					Purchase and others
	Sales and others		Dividend income		Purchase of raw material and others		Acquisition of property, plant and equipment		Outsourcing fees		Other costs
Associates and their subsidiaries
AVATEC Co., Ltd.	₩	22		200		80		—		74,070		1,112
Paju Electric Glass Co., Ltd.		—		7,739		299,737		—		—		2,862
WooRee E&L Co., Ltd.		—		—		13,857		—		—		35
YAS Co., Ltd.		—		300		6,648		22,603		—		3,790
Material Science Co., Ltd.		—		—		93		—		—		—
	₩	22		8,239		320,415		22,603		74,070		7,799
Entity that has significant influence    over the Controlling Company
LG Electronics Inc.	₩	647,329		—		19,810		233,504		—		141,191
Subsidiaries of the entity that has     significant influence over the    Controlling Company
LG Electronics India Pvt. Ltd.	₩	53,441		—		—		—		—		173
LG Electronics Vietnam Haiphong    Co., Ltd.		332,977		—		—		—		—		1,138
LG Electronics Nanjing New    Technology Co., Ltd.		439,674		—		—		—		—		1,333
LG Electronics RUS, LLC		95,465		—		—		—		—		303

(In millions of won)	2020
					Purchase and others
	Sales and others		Dividend income		Purchase of raw material and others		Acquisition of property, plant and equipment		Outsourcing fees		Other costs
LG Electronics do Brasil Ltda.	₩	111,710		—		—		—		—		230
LG Innotek Co., Ltd.		5,321		—		25,012		—		—		76,530
Qingdao LG Inspur Digital    Communication Co., Ltd.		7,298		—		—		—		—		—
LG Electronics Mexicalli, S.A. DE    C.V.		145,032		—		—		—		—		52
LG Electronics Mlawa Sp. z o.o.		729,135		—		—		—		—		1,188
LG Electronics Reynosa, S.A. DE    C.V.		780,710		—		—		—		—		1,044
LG Electronics Egypt S.A.E.		69,853		—		—		—		—		375
LG Electronics Japan, Inc.		—		—		—		33		—		5,635
P.T. LG Electronics Indonesia		157,820		—		—		—		—		164
Others		5,030		—		229		—		—		7,632
	₩	2,933,466		—		25,241		33		—		95,797
	₩	3,580,817		8,239		365,466		256,140		74,070		244,787

29.Related Parties and Others. Continued

(In millions of won)	2021
					Purchase and others
	Sales and others		Dividend income		Purchase of raw material and others		Acquisition of property, plant and equipment		Outsourcing fees		Other costs
Associates
AVATEC Co., Ltd.	₩	—		200		713		—		72,156		1,485
Paju Electric Glass Co., Ltd.		—		3,668		365,400		—		—		2,734
WooRee E&L Co., Ltd.		—		—		13,541		—		—		79
YAS Co., Ltd.		—		200		10,337		54,071		—		9,824
Cynora GmbH		—		—		10		—		—		—
Material Science Co., Ltd.		—		—		187		—		—		—
	₩	—		4,068		390,188		54,071		72,156		14,122
Entity that has significant influence    over the Controlling Company
LG Electronics Inc.	₩	270,396		—		19,805		395,654		—		130,924
Subsidiaries of the entity that has    significant influence over the    Controlling Company
LG Electronics India Pvt. Ltd.	₩	97,475		—		—		—		—		418
LG Electronics Vietnam Haiphong    Co., Ltd.		414,806		—		—		607		—		1,445
LG Electronics Nanjing New    Technology Co., Ltd.		449,390		—		—		—		—		1,263
LG Electronics RUS, LLC		98,812		—		—		—		—		1,141

(In millions of won)	2021
					Purchase and others
	Sales and others		Dividend income		Purchase of raw material and others		Acquisition of property, plant and equipment		Outsourcing fees		Other costs
LG Electronics do Brasil Ltda.	₩	154,565		—		—		—		—		543
LG Innotek Co., Ltd.		3,753		—		26,874		451		—		85,471
HI-M Solutek Co., Ltd		—		—		44		—		—		5,662
LG Electronics Mexicalli, S.A. DE    C.V.		269,305		—		—		—		—		89
LG Electronics Mlawa Sp. z o.o.		1,254,164		—		—		—		—		577
LG Electronics Reynosa, S.A. DE    C.V.		1,256,107		—		—		—		—		1,011
LG Electronics Egypt S.A.E.		106,469		—		—		—		—		159
LG Electronics Japan, Inc.		—		—		—		10		—		5,334
P.T. LG Electronics Indonesia		537,944		—		—		—		—		574
LG Electronics Taiwan Taipei Co., Ltd.		5,046		—		—		—		—		659
LG Electronics Nanjing Vehicle    Components Co.,Ltd.		2,009		—		—		—		—		—
LG Technology Ventures LLC		—		—		—		—		—		4,411
Others		5		—		739		602		—		968
	₩	4,649,850		—		27,657		1,670		—		109,725
	₩	4,920,246		4,068		437,650		451,395		72,156		254,771

29.Related Parties and Others. Continued

(In millions of won)	2022
					Purchase and others
	Sales and others		Dividend income		Purchase of raw material and others		Acquisition of property, plant and equipment		Outsourcing fees		Other costs
Associates
AVATEC Co., Ltd.	₩	—		—		58		—		64,492		3,617
Paju Electric Glass Co., Ltd.		—		4,361		245,962		—		—		2,942
WooRee E&L Co., Ltd.		—		—		12,321		—		—		2
YAS Co., Ltd.		—		100		14,291		29,951		—		8,038
Material Science Co., Ltd.		—		—		17		—		—		—
	₩	—		4,461		272,649		29,951		64,492		14,599
Entity that has significant influence    over the Controlling Company
LG Electronics Inc.	₩	238,358		—		19,808		517,476		—		137,703
Subsidiaries of the entity that has    significant influence over the    Controlling Company
LG Electronics India Pvt. Ltd.	₩	70,514		—		—		—		—		519
LG Electronics Vietnam Haiphong    Co., Ltd.		468,380		—		—		—		—		882
LG Electronics Nanjing New    Technology Co., Ltd.		334,099		—		—		—		—		1,178
LG Electronics RUS, LLC		23,458		—		—		—		—		414

(In millions of won)	2022
					Purchase and others
	Sales and others		Dividend income		Purchase of raw material and others		Acquisition of property, plant and equipment		Outsourcing fees		Other costs
LG Electronics do Brasil Ltda.	₩	88,835		—		—		—		—		200
LG Innotek Co., Ltd.		27,698		—		10,122		—		—		79,515
LG Electronics Mlawa Sp. z o.o.		1,178,140		—		—		—		—		1,089
LG Electronics Reynosa, S.A. DE C.V.		1,195,146		—		—		—		—		958
LG Electronics Egypt S.A.E.		72,055		—		—		—		—		372
LG Electronics Japan, Inc.		—		—		—		16		—		7,307
P.T. LG Electronics Indonesia		531,543		—		—		—		—		1,415
LG Electronics Taiwan Taipei Co., Ltd.		3,433		—		—		—		—		615
LG Technology Ventures LLC		—		—		—		—		—		4,922
HI-M Solutek Co., Ltd		—		—		58		—				9,258
LG Electronics U.S.A. Inc.		—		—		—		—				2,315
Others		572		—		592		608		—		913
	₩	3,993,873		—		10,772		624		—		111,872
	₩	4,232,231		4,461		303,229		548,051		64,492		264,174

(c)Trade accounts and notes receivable and payable as of December 31, 2021 and 2022 are as follows:

29.Related Parties and Others. Continued

(In millions of won)
	Trade accounts and notes receivable and others				Trade accounts and notes payable and others
	December 31, 2021		December 31, 2022		December 31, 2021		December 31, 2022
Associates
AVATEC Co., Ltd.		3		—		2,748		3,756
Paju Electric Glass Co., Ltd.		—		—		79,302		30,431
WooRee E&L Co., Ltd.		878		878		2,915		1,502
YAS Co., Ltd.		—		—		20,116		7,680
Material Science Co., Ltd.		—		—		99		—
	₩	881		878		105,180		43,369
Entity that has significant influence over the    Controlling Company
LG Electronics Inc.	₩	67,629		69,447		105,918		99,934
Subsidiaries of the entity that has significant    influence over the Controlling Company
LG Electronics India Pvt. Ltd.		7,319		5,669		111		15
LG Electronics Vietnam Haiphong Co., Ltd.		52,327		50,173		252		53
LG Electronics Nanjing New Technology Co., Ltd.		102,691		30,018		155		—
LG Electronics do Brasil Ltda.		5,910		10,997		—		—
LG Innotek Co., Ltd.(*)		767		3,838		40,135		209,032

(In millions of won)
	Trade accounts and notes receivable and others				Trade accounts and notes payable and others
	December 31, 2021		December 31, 2022		December 31, 2021		December 31, 2022
LG Electronics Mlawa Sp. z o.o.	₩	218,206		94,346		22		155
LG Electronics Reynosa, S.A. DE C.V.		195,093		16,760		10		167
LG Electronics Japan, Inc.		—		—		471		566
P.T. LG Electronics Indonesia		73,732		45,617		32		195
LG Electronics Taiwan Taipei Co., Ltd.		2,046		—		53		77
Others		32,932		2,260		3,921		4,574
	₩	691,023		259,678		45,162		214,834
	₩	759,533		330,003		256,260		358,137

(*) Including deposits received amount W180,000 million from lease agreement.

29.Related Parties and Others. Continued

(d)Details of significant financing transactions such as granting and collecting loans, which occurred in the normal course of business with related parties for the year ended December 31, 2021 are as follows.

(In millions of won)
	2021
Associates	Loans		Collection of loans
WooRee E&L Co., Ltd.	₩	878		—

There were no significant financing transactions with related parties for the years ended December 31, 2020 and 2022.

(e)Key management personnel compensation

Compensation costs of key management for the years ended December 31, 2020, 2021 and 2022 are as follows:

(In millions of won)
	2020		2021		2022
Short-term benefits	₩	2,233		3,747		2,305
Expenses related to the defined benefit plan		346		366		417
	₩	2,579		4,113		2,722

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