6-K

Sales

Sales performance

(Unit: In billions of Won)


Business area	Sales types	Items (Market)		2025 Q1~Q3	2024	2023
Display	Products	Display panel	Overseas(1)	17,711	25,496	20,634
			Korea(1)	706	960	620
			Total	18,417	26,456	21,254
	Royalty	LCD, OLED technology patent	Overseas(1)	100	61	16
			Korea(1)	0	0	0
			Total	100	61	16
	Others	Raw materials, components, etc.	Overseas(1)	63	52	46
			Korea(1)	29	47	14
			Total	92	99	60
	Total		Overseas(1)	17,874	25,609	20,696
			Korea(1)	735	1,007	634
			Total	18,609	26,616	21,330

(1)

Based on ship‑to‑party.

Sales organization and sales route

•

As of September 30, 2025, 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 → Overseas sales subsidiaries (USA/Germany/Japan/Taiwan/China/Singapore), etc. → System integrators and end‑brand customers → End users

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

•

Sales performance by sales route


Sales performance	Sales route(1)	Ratio
Overseas	Overseas subsidiaries	98.2%
Overseas	Headquarters	1.8%
Overseas sales portion (overseas sales / total sales)		96.1%
Korea	Overseas subsidiaries	19.5%
Korea	Headquarters	80.5%
Korea sales portion (Korea sales / total sales)		3.9%

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

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.

Sales strategy

•

With respect to television display products, we are strengthening our competitive advantages in the premium television display market by enhancing the performance of our OLED television display panels and advancing both product and technology sophistication levels. Furthermore, we are 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 is steadily growing on the back of stable orders secured through our ability to deliver differentiated value to global automobile manufacturers leveraging our diversified technology and product portfolio that includes plastic OLED, advanced thin OLED and LTPS LCD panels.

Major customers

•

Customers “A” and “B” each accounted for more than 10% of our sales revenue in the first three quarters of 2025. Our sales revenue derived from our top ten customers comprised 91% of our total sales revenue in the first three quarters of 2025 and 89% in the first three quarters of 2024.

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 September 30, 2025, 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.

Risk Management and Derivative Contracts

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.

See Note 24 to our interim consolidated financial statements attached hereto for more information regarding our exposure to each of the risks listed above.

(2)

Risk management method

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.

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 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 an aggregate of USD 1,740 million, CNY 700 million cross currency interest swap agreements with Shinhan 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 loss on valuation of derivative instruments in the amount of W179 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 W2,305 billion in interest rate swap agreements with KEB Hana Bank and others, for which we have not applied hedge accounting. We recognized a gain on valuation of derivative instruments in the amount of W5 billion and a loss on valuation of derivative instruments in the amount of W3 billion with respect to our interest rate derivative instruments held during the reporting period.

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
	AUO 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
Real estate/others	LG Innotek Co., Ltd.	Date of contract: December 23, 2022 Term: December 26, 2022 ~ December 31, 2027	Lease of idle real estate property for rental income (the contract amount and other details are not disclosed in accordance with a non-disclosure agreement)
Real estate/others	LG Uplus Corp.	Date of contract: May 14, 2024	Sale of real estate property to enhance asset efficiency (for details, please refer to the Form 6-K furnished to the SEC on April 25, 2024)

Research & Development (“R&D”)

Summary of R&D‑related expenditures

(Unit: In millions of Won, except percentages)


Items		2025 Q1~Q3	2024	2023
R&D Expenditures (prior to deducting governmental subsidies)		1,668,557	2,237,403	2,399,513
Governmental Subsidies		(347)	(705)	(718)
Net R&D‑Related Expenditures		1,668,210	2,236,698	2,398,795
Accounting Treatment(1)	R&D Expenses	1,217,738	1,687,315	1,906,616
Accounting Treatment(1)	Development Cost (Intangible Assets)	450,472	549,383	492,179
R&D‑Related Expenditures / Revenue Ratio(2) (Total R&D‑Related Expenditures  Revenue for the period × 100)		9.0%	8.4%	11.2%

(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).

R&D achievements

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)

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 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

(5)

Developed next-generation Micro LED display product (22.3”)

•

Provided a large-screen and high-resolution, new user experience through Active Matrix Micro LED transfer technology, panel technology, compensation technology and mechanical technology

1) 22.3” Module for 136” 4K business-to-consumer products

2) 22.3” Module for infinitely expandable business-to-business products

(6)

Developed the world’s first ultra-large high resolution transparent OLED display product (77”)

•

Developed new television models and lifestyle solutions with ultra-large, high-resolution displays with 45% transparency

(7)

Developed the world’s first large-sized WOLED product based on 4-Stack technology (83/77/65/55/48” 4K television displays)

•

Strengthened the competitiveness of our WOLED flagship models by applying the 4-Stack technology to large-sized WOLED display panels for the first time in the industry

•

Improved customer value by delivering premium picture quality (luminance, color reproduction, and high-speed) while enhancing cost competitiveness

•

Established a foundation for market expansion by strengthening the potential to expand into the new high-end monitor market

Achievements in 2025

(1)

Developed the world’s first 45WUHD 165Hz Gaming OLED product

•

Optimized display based on intended use through applying DFR (Dynamic Frequency & Resolution) technology, which enables the implementation of high resolution (WUHD 165Hz) and high refresh rate (WFHD 330Hz) on a single display panel

•

Enhanced gaming immersion through the application of an 800R Curved display

(2)

Developed the world’s first medium-sized OLED notebook panel product based on low-temperature polycrystalline oxide (“LTPO”) and Tandem technology (14”)

•

Developed Tandem OLED product with low power consumption and variable refresh rate based on LTPO technology

•

Developed a medium-sized OLED display product with low power consumption to lead the high-end notebook computers market

(3)

Developed our first 8.5th-generation large-sized automotive display panel product using oxide technology (38.9”)

•

Developed P2P (Pillar-to-Pillar, full dashboard) products for automotive applications using new oxide semiconductor technology to ensure high reliability

•

Expanded automotive LCD panel production to the 8.5th-generation line in addition to the existing 6th-generation line

10.

Intellectual Property

As of September 30, 2025, our cumulative patent portfolio (including patents that have already expired) included 31,163 patents in Korea and 38,108 patents in other countries. In 2025, we registered 1,335 patents in Korea and 1,674 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.

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.

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.

We have been participating in the Carbon Disclosure Project (“CDP”), a globally recognized authority on environmental disclosure, and named to the Honors Club in the IT category of the Climate Change Korea Awards for nine consecutive years from 2016 to 2024. Such recognitions reflected our carbon management leadership based on our achievement of a 43% reduction in carbon emissions across our domestic and overseas business sites and the conversion of 39% of our total electricity consumption to renewable energy as of 2024, compared to their 2018 levels. In addition, we were recognized as a top-performing company in the water management category by the CDP Water Security Korea Awards for five consecutive years from 2018 to 2022. In 2023 and 2024, we received a Leadership A- rating in recognition of our excellence in managing water-related environmental impact, including the public disclosure of our mid- to long-term water reuse rate targets and water pollutant discharge levels.

In addition, in recognition of our efforts to improve recycling rates and reduce waste, 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. In 2022, our Paju and Gumi production facilities earned Gold Zero Waste to Landfill (“ZWTL”) validation and our overseas subsidiary in Nanjing earned Platinum validation. Through our continued efforts to increase recycling rates, our Paju plant earned Platinum ZWTL validation in June 2024, our overseas subsidiary in Guangzhou earned Platinum validation in December 2024 and our Paju and Gumi production facilities earned Platinum validation as of July 2025. 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.

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)

- 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. In 2025, we enhanced and replaced PFAS-containing components in our 14-inch LCD panels for notebook computers, and as a result, obtained the SGS ECCS Mark – PFAS Screened accreditation.

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. In 2024, our 14-inch high-end LCD panel product for notebook computers received the Product Carbon Footprint Reduction (PCR) certification from TÜV Rheinland through the application of bio-plastic, recycled materials and ultra-precision micro-processing technology. Additionally, upon verification by Underwriters Laboratories (UL), a global inspection and certification agency, such display panel also received the Environmental Claim Validation (ECV) certification. In 2025, we obtained the “Product Carbon Footprint Methodology” certification from TÜV Rheinland reflecting our establishment of a system to calculate carbon emissions generated throughout the entire product life cycle based on international standards and our proprietary evaluation methodology optimized for display panels, as well as an IT system for evaluating product carbon footprints. .

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 display panels for OLED televisions, OLED tablets, and PO mobile models and smartwatches.

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).

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.

Green management

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

Status of sanctions

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

12.

Financial Information

Financial highlights (Based on consolidated K‑IFRS).

(Unit: In millions of Won)


Description	As of September 30, 2025	As of December 31, 2024	As of December 31, 2023
Current assets	8,441,986	10,123,037	9,503,186
Quick assets	5,355,573	7,451,795	6,975,458
Inventories	3,086,413	2,671,242	2,527,728
Non‑current assets	20,271,270	22,736,529	26,256,112
Investments in equity accounted investees	33,938	33,177	84,329
Property, plant and equipment, net	14,932,853	17,202,873	20,200,332
Intangible assets	1,531,285	1,558,407	1,773,955
Other non‑current assets	3,773,194	3,942,072	4,197,496
Total assets	28,713,256	32,859,566	35,759,298
Current liabilities	12,098,946	15,859,084	13,885,028
Non‑current liabilities	8,699,081	8,927,675	13,103,726
Total liabilities	20,798,027	24,786,759	26,988,754
Share capital	2,500,000	2,500,000	1,789,079
Share premium	2,759,184	2,773,587	2,251,113
Retained earnings	601,845	(18,512)	2,676,014
Other equity	871,875	995,823	515,976
Accumulated other comprehensive income held for sale	─	291,363	─
Non‑controlling interest	1,182,325	1,530,546	1,538,362
Total equity	7,915,229	8,072,807	8,770,544

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


Description	For the nine months ended September 30, 2025	For the year ended December 31, 2024	For the year ended December 31, 2023
Revenue	18,609,232	26,615,347	21,330,819
Operating profit (loss)	348,468	(560,596)	(2,510,164)
Profit (loss) from continuing operations	654,986	(2,409,300)	(2,576,729)
Profit (loss) for the period	654,986	(2,409,300)	(2,576,729)
Profit (loss) attributable to:
Owners of the company	582,429	(2,562,606)	(2,733,742)
Non‑controlling interest	72,557	153,306	157,013
Basic earnings (loss) per share(1)	1,165	(5,438)	(7,177)
Diluted earnings (loss) per share(1)	1,165	(5,438)	(7,177)
Number of consolidated entities(2)	20	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 year ended December 31, 2023 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.

Financial highlights (Based on separate K‑IFRS).

(Unit: In millions of Won)


Description	As of September 30, 2025	As of December 31, 2024	As of December 31, 2023
Current assets	6,761,898	8,647,395	5,590,482
Quick assets	4,682,030	6,860,717	3,809,523
Inventories	2,079,868	1,786,678	1,780,959
Non‑current assets	19,751,820	21,151,656	24,141,930
Investments	3,988,095	3,939,474	4,932,063
Property, plant and equipment, net	10,737,710	11,913,336	13,584,247
Intangible assets	1,480,532	1,485,789	1,683,029
Other non‑current assets	3,545,483	3,813,057	3,942,591
Total assets	26,513,718	29,799,051	29,732,412
Current liabilities	17,340,227	20,865,495	16,422,259
Non‑current liabilities	4,988,120	5,137,758	7,628,598
Total liabilities	22,328,347	26,003,253	24,050,857
Share capital	2,500,000	2,500,000	1,789,079
Share premium	2,821,006	2,821,006	2,251,113
Retained earnings	(1,135,635)	(1,525,208)	1,641,363
Other equity	0	0	0
Total equity	4,185,371	3,795,798	5,681,555

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


Description	For the nine months ended September 30, 2025	For the year ended December 31, 2024	For the year ended December 31, 2023
Revenue	17,596,601	25,178,688	19,811,015
Operating profit (loss)	(530,755)	(1,800,625)	(3,884,121)
Profit (loss) from continuing operations	351,645	(3,034,736)	(1,718,701)
Profit (loss) for the period	351,645	(3,034,736)	(1,718,701)
Basic earnings (loss) per share(1)	703	(6,440)	(4,512)
Diluted earnings (loss) per share(1)	703	(6,440)	(4,512)

(1)

Consolidated subsidiaries (as of September 30, 2025)


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 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%
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 nine months ended September 30, 2025, we invested an additional W2,481 million in LG Display Fund I LLC.

Status of equity investments in associates (as of September 30, 2025)


Company	Carrying Amount (in millions)	Equity Interest
Paju Electric Glass Co., Ltd.	W 30,408	40%
Arctic Sentinel, Inc.	-	10%
Cynora GmbH	-	10%
Material Science Co., Ltd.(1)	W 3,530	11%

(1) During the reporting period, our equity interest in Material Science Co., Ltd. decreased from 14% to 11% due to the issuance of new shares by the investee.

Although our respective share interests in 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 nine months ended September 30, 2025 and 2024, the aggregate amount of dividends we received from our affiliated companies was W1,664 million and W200 million, respectively.

13.

Audit Information

Audit service

(Unit: In millions of Won, hours)


Description	2025 Q1~Q3	2024	2023
Auditor	Samil PwC	Samil PwC	KPMG Samjong
Activity	Audit by independent auditor	Audit by independent auditor	Audit by independent auditor
Compensation(1)	1,898 (602)(2)	1,800 (650)(2)	1,640 (590)(2)
Time required(3)	10,570	23,088	22,107

(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.

Non‑audit service


Period	Date of contract	Description of service	Period of service	Compensation
2025 Q1~Q3	June 2025	Tax advice	June 2025 ~ December 2025	W50 million
2025 Q1~Q3	September 2025	Tax advice	October 2025 ~ March 2026	W40 million
2024	February 2024	Tax advice	March 2024 ~ December 2024	W50 million
2024	September 2024	Tax advice	September 2024 ~ March 2025	W40 million
2023	—	—	—	—

* 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.

15.

Board of Directors

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

16.

Information Regarding Shares

Total number of shares

(1)

Total number of shares authorized to be issued (as of September 30, 2025): 1,000,000,000 shares.

(2)

Total shares issued and outstanding (as of September 30, 2025): 500,000,000 shares.

Shareholder list

(1)

Largest shareholder and related parties as of September 30, 2025:


Name	Relationship	Number of shares of common stock(1)	Equity interest
LG Electronics	Largest shareholder	183,593,206	36.72%
Cheoldong Jeong	Executive of an affiliated company(2)	22,460(3)	0.00%

(1)

The number of shares of common stock reflects the shareholding status of our shareholders as of the date of this report.

(2)

The information on executive officers of our affiliated companies is based on the status of our registered executive officers.

(3)

Cheoldong Jeong, our Representative Director, acquired our shares through open market purchases on the Korea Exchange.

(2)

Shares held by shareholders who are known to us that own 5% or more of our shares or our Employee Stock Ownership Association as of September 30, 2025:


Beneficial owner	Number of shares of common stock (1)	Equity interest
LG Electronics	183,593,206	36.72%
National Pension Service	30,605,072	6.12%
Employee Stock Ownership Association	12,315,875	2.46%

(1)

The number of shares of common stock is based on the most recent shareholder register as of September 30, 2025, and may differ from the actual shareholding status.

17.

Directors and Employees

Directors

(1)

List of members of board of directors


Name	Position	Shares of the Company held	First appointed	Term expires
Cheoldong Jeong	Representative Director (non‑outside), Chief Executive Officer and President	—	December 1, 2023	March 22, 2027
Sung Hyun Kim	Director (non‑outside), Chief Financial Officer and Vice President	—	December 1, 2018	March 20, 2028
Sangwoo Lee	Non-standing Director and Member of Outside Director Nomination Committee	—	March 20, 2025	March 20, 2028
Doocheol Moon	Outside Director and Member of Audit Committee, Outside Director Nomination Committee and ESG Committee	—	March 23, 2021	March 22, 2027
Chung Hae Kang	Outside Director and Member of Audit Committee, Related Party Transaction Committee and ESG Committee	—	March 23, 2022	March 20, 2028
Jungsuk Oh	Outside Director and Member of Audit Committee, Outside Director Nomination Committee, Related Party Transaction Committee and ESG Committee	—	April 26, 2022	March 21, 2026
Sang Hee Park	Outside Director and Member of Audit Committee, Related Party Transaction Committee and ESG Committee	—	March 21, 2023	March 21, 2026

(2)

Compensation of directors

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

Employees

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

18.

Other Matters

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 has been completed and an appeal is currently in progress, 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.

Status of collateral pledged to related party

As of the end of the reporting period, we have not provided any collateral in connection with borrowings or debt guarantees arising from transactions with our major shareholders.

Material events subsequent to the reporting period

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

LG DISPLAY CO., LTD. AND ITS SUBSIDIARIES

Condensed Consolidated Interim Financial Statements

(Unaudited)

September 30, 2025 and 2024

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

Contents


		Page

Report on Review of Condensed Consolidated Interim Financial Statements		1

Consolidated Interim Statements of Financial Position		3

Consolidated Interim Statements of Comprehensive Income (Loss)		4

Consolidated Interim Statements of Changes in Equity		5

Consolidated Interim Statements of Cash Flows		6

Notes to the Condensed Consolidated Interim Financial Statements		7-59

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 financial statements consist of the consolidated interim statement of financial position of the Group as at September 30, 2025, and the related consolidated interim statements of comprehensive income for the three-month and nine-month periods ended September 30, 2025 and 2024, and consolidated interim statements of changes in equity and cash flows for the nine-month periods ended September 30, 2025 and 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

We have audited the consolidated statement of financial position of the Group as at December 31, 2024, and the related consolidated statements of comprehensive income, changes in equity and cash flows for the year then ended, not presented herein, in accordance with Korean Standards on Auditing. We expressed an unqualified opinion on those financial statements in our audit report dated March 4, 2025. The consolidated statement of financial position as at December 31, 2024, presented herein for comparative purposes, is consistent, in all material respects, with the above audited consolidated statement of financial position as at December 31, 2024.

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.

November 13, 2025

Seoul, Korea

      This report is effective as of November 13, 2025, 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.

     


LG DISPLAY CO., LTD. AND ITS SUBSIDIARIES
Consolidated Interim Statements of Financial Position
As of September 30, 2025 and December 31, 2024

(In millions of won)	Note		September 30, 2025 (Unaudited)	December 31, 2024
	Note		September 30, 2025 (Unaudited)	December 31, 2024
Assets
Cash and cash equivalents	4, 24	W	1,548,799	2,021,640
Deposits in banks	4, 24		800	600
Trade accounts and notes receivable, net	5, 15, 24, 26		3,318,000	3,624,477
Other accounts receivable, net	5, 24		105,459	250,029
Other current financial assets	6, 24		104,997	328,621
Inventories, net	7		3,086,413	2,671,242
Prepaid income tax			53,427	12,774
Assets held for sale	27		-	983,317
Other current assets			224,091	230,337
Total current assets			8,441,986	10,123,037
Deposits in banks	4, 24		11	11
Investments in equity accounted investees	8		33,938	33,177
Other non-current financial assets	6, 24		144,700	232,652
Property, plant and equipment, net	9, 18		14,932,853	17,202,873
Intangible assets, net	10, 18		1,531,285	1,558,407
Investment Property	11, 18		18,252	27,911
Deferred tax assets, net			3,499,673	3,504,177
Defined benefits assets, net	13		88,084	160,752
Other non-current assets			22,474	16,569
Total non-current assets			20,271,270	22,736,529
Total assets		W	28,713,256	32,859,566
Liabilities
Trade accounts and notes payable	24, 26	W	4,369,909	4,156,149
Current financial liabilities	12, 24, 25, 26		5,444,955	6,527,450
Other accounts payable	24		1,361,906	1,720,670
Accrued expenses			682,486	634,473
Income tax payable, net			30,316	65,366
Provisions	14		88,630	105,251
Advances received			41,818	904,628
Liabilities held for sale	27		-	1,656,841
Other current liabilities			78,926	88,256
Total current liabilities			12,098,946	15,859,084
Non-current financial liabilities	12, 24, 25		8,121,928	8,091,407
Non-current provisions	14		54,856	60,908
Defined benefit liabilities, net	13		1,151	1,093
Long-term advances received			-	220,500
Other non-current liabilities	24, 26		521,146	553,767
Total non-current liabilities			8,699,081	8,927,675
Total liabilities		W	20,798,027	24,786,759
Equity
Share capital	16	W	2,500,000	2,500,000
Share premium	16		2,759,184	2,773,587
Retained earnings(Accumulated deficit)			601,845	(18,512)
Reserves	16		871,875	995,823
Accumulated other comprehensive income held for sale	27		-	291,363
Equity attributable to owners of the Parent			6,732,904	6,542,261
Non-controlling interests			1,182,325	1,530,546
Total equity			7,915,229	8,072,807
Total liabilities and equity		W	28,713,256	32,859,566


See accompanying notes to the condensed consolidated interim financial statements.


LG DISPLAY CO., LTD. AND ITS SUBSIDIARIES
Consolidated Interim Statements of Comprehensive Income (Loss)
For the three-month and nine-month periods ended September 30, 2025 and 2024

			For the three-month periods ended September 30		For the nine-month periods ended September 30
(In millions of won, except earnings (loss) per share amounts)			2025	2024	2025	2024
	Note		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)
Revenue	17, 18, 26	W	6,956,978	6,821,301	18,609,232	18,782,475
Cost of sales	7, 19, 26		(5,816,730)	(5,978,100)	(16,218,472)	(17,107,783)
Gross profit			1,140,248	843,201	2,390,760	1,674,692
Selling expenses	19, 20		(125,856)	(157,081)	(347,656)	(427,027)
Administrative expenses	19, 20		(239,036)	(379,180)	(661,248)	(820,205)
Research and development expenses	19		(344,319)	(387,539)	(1,033,388)	(1,071,164)
Operating profit (loss)			431,037	(80,599)	348,468	(643,704)
Finance income	22		(39,930)	183,212	506,019	562,843
Finance costs	22		(145,912)	(346,937)	(920,470)	(1,172,185)
Other non-operating income	21		(38,980)	382,283	2,169,387	1,185,846
Other non-operating expenses	21		(176,317)	(346,203)	(1,231,397)	(1,566,309)
Equity in income of equity accounted investees, net			(17)	1,032	1,277	4,320
Profit (loss) before income tax			29,881	(207,212)	873,284	(1,629,189)
Income tax benefit (expense)			(28,634)	(130,896)	(218,298)	59,007
Profit (loss) for the period			1,247	(338,108)	654,986	(1,570,182)
Other comprehensive income (loss)
Items that will never be reclassified to profit or loss
Remeasurements of net defined benefit liabilities			37,253	(48,289)	37,928	(52,558)
Other comprehensive income (loss) from associates	8		-	10	-	(85)
			37,253	(48,279)	37,928	(52,643)
Items that are or may be reclassified to profit or loss
Foreign currency translation differences for foreign operations	16		278,132	(207,808)	(441,519)	286,140
Other comprehensive income (loss) from associates	8, 16		551	3,401	1,984	3,333
			278,683	(204,407)	(439,535)	289,473
Other comprehensive income (loss) for the period, net of income tax			315,936	(252,686)	(401,607)	236,830
Total comprehensive income (loss) for the period		W	317,183	(590,794)	253,379	(1,333,352)
Profit (loss) attributable to:
Owners of the Parent			(20,658)	(355,159)	582,429	(1,644,843)
Non-controlling interests			21,905	17,051	72,557	74,661
Profit (loss) for the period		W	1,247	(338,108)	654,986	(1,570,182)
Total comprehensive income (loss) attributable to:
Owners of the Parent			249,636	(592,780)	205,046	(1,472,880)
Non-controlling interests			67,547	1,986	48,333	139,528
Total comprehensive income (loss) for the period		W	317,183	(590,794)	253,379	(1,333,352)
Earnings (loss) per share (in won)
Basic earnings (loss) per share	23	W	(41)	(710)	1,165	(3,563)
Diluted earnings (loss) per share	23	W	(41)	(710)	1,165	(3,563)

See accompanying notes to the condensed consolidated interim financial statements.


LG DISPLAY CO., LTD. AND ITS SUBSIDIARIES
Consolidated Interim Statements of Changes in Equity
For the nine-month periods ended September 30, 2025 and 2024
				Attributable to owners of the Parent Company
		Share capital	Share premium		Retained earnings (Accumulated deficit)	Reserves	Other comprehensive income classified as held for sales		Non-controlling interests	Total equity
(In millions of won)		Share capital	Share premium		Retained earnings (Accumulated deficit)	Reserves	Other comprehensive income classified as held for sales		Non-controlling interests	Total equity	Sub-total
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		-	-		(1,644,843)	-	-	(1,644,843)	74,661	(1,570,182)
Other comprehensive income (loss)
Remeasurements of net defined benefit liabilities		-	-		(52,558)	-	-	(52,558)	-	(52,558)
Foreign currency translation differences for foreign operations		-	-		-	221,273	-	221,273	64,867	286,140
Other comprehensive income (loss) from associates		-	-		(85)	3,333	-	3,248	-	3,248
Total other comprehensive income (loss)		-	-		(52,643)	224,606	-	171,963	64,867	236,830
Total comprehensive income (loss) for the period	W	-	-		(1,697,486)	224,606	-	(1,472,880)	139,528	(1,333,352)
Transaction with owners, recognized directly in equity
Capital increase (Note 16)		710,921	569,893		-	-	-	1,280,814	-	1,280,814
Acquisition of non-controlling shareholders' interests in subsidiaries		-	(61,512)					(61,512)	(183,850)	(245,362)
Dividends to non-controlling shareholders in subsidiaries		-	-		-	-	-	-	(129,216)	(129,216)
Total transaction with owners, recognized directly in equity		710,921	508,381		-	-	-	1,219,302	(313,066)	906,236
Balances at September 30, 2024 (Unaudited)	W	2,500,000	2,759,494		978,528	740,582	-	6,978,604	1,364,824	8,343,428
Balances at January 1, 2025	W	2,500,000	2,773,587		(18,512)	995,823	291,363	6,542,261	1,530,546	8,072,807
Total comprehensive income (loss) for the period
Profit for the period		-	-		582,429	-	-	582,429	72,557	654,986
Other comprehensive income (loss)
Remeasurements of net defined benefit liabilities		-	-		37,928	-	-	37,928	-	37,928
Foreign currency translation differences for foreign operations		-	-		-	(125,932)	(291,363)	(417,295)	(24,224)	(441,519)
Other comprehensive loss from associates		-	-		-	1,984	-	1,984	-	1,984
Total other comprehensive income (loss)		-	-		37,928	(123,948)	(291,363)	(377,383)	(24,224)	(401,607)
Total comprehensive income (loss) for the period	W	-	-		620,357	(123,948)	(291,363)	205,046	48,333	253,379
Change in scope of Consolidation		-	(14,403)		-	-	-	(14,403)	(396,554)	(410,957)
Balances at September 30, 2025 (Unaudited)	W	2,500,000	2,759,184		601,845	871,875	-	6,732,904	1,182,325	7,915,229


See accompanying notes to the condensed consolidated interim financial statements.


LG DISPLAY CO., LTD. AND ITS SUBSIDIARIES
Consolidated Interim Statements of Cash Flows
For the nine-month periods ended September 30, 2025 and 2024

(In millions of won)			2025	2024
	Note		(Unaudited)	(Unaudited)

Cash flows from (used in) operating activities:
Cash generated from operations	25	W	1,539,566	1,828,938
Income taxes paid			(170,939)	(118,221)
Interests received			45,894	76,561
Interests paid			(551,589)	(735,192)
Cash flows from operating activities			862,932	1,052,086
Cash flows from (used in) investing activities:
Dividends received			1,930	200
Increase in deposits in banks			(1,700)	(1,700)
Proceeds from withdrawal of deposits in banks			1,500	915,083
Acquisition of financial assets at fair value through profit or loss			(1,422)	(4,792)
Proceeds from disposal of financial assets at fair value through profit or loss			2,200	2,342
Proceeds from disposal of investments in equity accounted investees			-	17,609
Proceeds from disposal of assets held for sale			823,111	-
Acquisition of property, plant and equipment			(1,040,972)	(1,845,516)
Proceeds from disposal of property, plant and equipment			82,321	246,116
Acquisition of intangible assets			(603,055)	(626,117)
Proceeds from disposal of intangible assets			1,918	6,212
Government grants received			1,041	2,307
Proceeds from settlement of derivatives			107,455	229,982
Decrease in short-term loans			16,941	14,233
Increase in deposits			(4,130)	(1,726)
Decrease in deposits			7,356	1,601
Proceeds from disposal of greenhouse gas emission permits			1,742	14,394
Cash flows used in investing activities			(603,764)	(1,029,772)
Cash flows from (used in) financing activities:	25
Proceeds from short-term borrowings			3,899,594	4,183,571
Repayments of short-term borrowings			(3,292,642)	(4,908,243)
Repayments of current portion of bonds			(612,000)	(370,000)
Proceeds from long-term borrowings			3,345,281	2,534,490
Repayments of current portion of long-term borrowings			(4,081,609)	(2,538,058)
Payments of lease liabilities			(40,698)	(53,582)
Repayments of security deposits received			(40,500)	-
Capital increase			-	1,292,455
Transaction cost from capital increase			-	(11,641)
Acquisition of non-controlling shareholders' interests in subsidiaries			-	(245,362)
Dividends to non-controlling shareholders in subsidiaries			(6,390)	(136,519)
Cash flows used in financing activities			(828,964)	(252,889)
Net decrease in cash and cash equivalents			(569,796)	(230,575)
Cash and cash equivalents included in assets held for sale at January 1			158,415	-
Cash and cash equivalents at January 1			2,021,640	2,257,522
Effect of exchange rate fluctuations on cash held			(61,460)	47,005
Cash and cash equivalents included in assets held for sale at September 30			-	(287,303)
Cash and cash equivalents at September 30		W	1,548,799	1,786,649


See accompanying notes to the condensed consolidated interim financial statements.

Reporting Entity

(a)

Description of the Parent Company

LG Display Co., Ltd. (the "Parent Company") was incorporated in February 1985 and the Parent Company has been a public corporation listed on the Korea Exchange since 2004. The main business of the Parent Company and its subsidiaries (the “Group”) is to manufacture and sell displays and related products. As of September 30, 2025, the Group operates 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 Yeoui-daero, Yeongdeungpo-gu, Seoul. As of September 30, 2025, 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 September 30, 2025, 500,000,000 shares of the Parent Company's common stock are listed on the Korea Exchange under the identifying code 034220, and 32,055,076 American Depositary Shares ("ADSs"; 2 ADSs represent one share of common stock) are listed on the New York Stock Exchange under the symbol "LPL".

Reporting Entity, Continued

(b)

Consolidated Subsidiaries as of September 30, 2025


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

Reporting Entity, Continued

(b)

Consolidated Subsidiaries as of September 30, 2025, Continued

(*1) For the nine-month period ended September 30, 2025, the Parent Company contributed W2,481 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 W137,800 million in MMT (Money Market Trust).

(c)

Change in scope of Consolidation


Subsidiaries	Location	Percentage of ownership(%)	Reason
LG Display Guangzhou Co., Ltd.	Guangzhou, China	100	Disposal
LG Display (China) Co., Ltd.	Guangzhou, China	80	Disposal

Basis of Preparation

(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, 2024.

(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

Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which each entity operates (the “functional currency"). The condensed consolidated interim financial statements are presented in Korean won, which is the Parent Company’s functional and presentation 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. The actual results may differ from these estimates at the end of the interim reporting period which are based on management's best estimate, as the underlying assumptions may vary from actual outcomes.

(e)

Accounting standards and Interpretation issued and adopted by the Group

The Group has applied the following standards and amendments for the first time for their annual reporting period commencing January 1, 2025.

(i)

Amendments to Korean IFRS 1021 Effect of Exchange Rate Fluctuations, Amendments to Korean IFRS 1101 First Adoption of International Generally Accepted Accounting Principles Adopted by Korea – Lack of Exchangeability

The amendment requires the entity to disclose the relevant information when an entity estimates a spot exchange rate because exchangeability between two currencies is lacking. The amendments do not have a significant impact on the financial statements.

Basis of Preparation, Continued

(f)

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

The following new accounting standards and interpretations have been published that are not mandatory for September 30, 2025 reporting periods and have not been early adopted by the Group.

(i)

Amendments to Korean IFRS 1109 Financial Instrument and Korean IFRS 1107 Financial Instruments: Disclosures

Korean IFRS 1109 Financial Instruments and Korean IFRS 1107 Financial Instruments: Disclosures have been amended to respond to recent questions arising in practice, and to include new requirements. The amendments should be applied for annual periods beginning on or after January 1, 2026, and earlier application is permitted. The key amendments are as follows. The Group is currently reviewing the impact of these amendments on its financial statements.

clarify the date of recognition and derecognition of some financial assets and liabilities, with a new exception for some financial liabilities settled through an electronic cash transfer system;

clarify and add further guidance for assessing whether a financial asset meets the solely payments of principal and interest (SPPI) criterion;

add new disclosures of impact on the entity and the extent to which the entity is exposed for each type of financial instruments if the timing or amount of contractual cash flow changes due to amendment of contract term;

update the disclosures for equity instruments designated at fair value through other comprehensive income (FVOCI).

(ii)

Annual Improvements to Korean IFRS - Volume 11

Annual Improvements to Korean IFRS - Volume 11 shall be effective for fiscal years beginning on or after January 1, 2026, and early application is effective. The amendments are not expected to have a significant impact on the financial statements.

Korean IFRS 1101 First-time Adoption of International Financial Reporting Standards: Hedge accounting by a first-time adopter

Korean IFRS 1107 Financial Instruments: Disclosures: Gain or loss on derecognition and implementation guidance

Korean IFRS 1109 Financial Instruments: Derecognition of lease liabilities and definition of transaction price

Korean IFRS 1110 Consolidated Financial Statements: Determination of a ‘de facto agent’

Korean IFRS 1007 Statement of Cash Flows: Cost method

(g)

Income Tax Expense

The Group is within the scope of the Pillar Two model rules, and applied the exception to recognizing and disclosing information about deferred tax.

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, 2024, except for the application of Korean IFRS 1034 Interim Financial Reporting.

Cash and Cash Equivalents and Deposits in Banks

Details of cash and cash equivalents and deposits in banks as of September 30, 2025 and December 31, 2024 are as follows:


(In millions of won)
		September 30, 2025	December 31, 2024
Current assets
Cash and cash equivalents
Deposits	W	1,548,799	2,021,640
Deposits in banks
Time deposits	W	800	600
Non-current assets
Deposits in banks
Deposit for checking account	W	11	11

Trade Accounts and Notes Receivable, and Other Accounts Receivable

(a)

Details of trade accounts and notes receivable and other accounts receivable as of September 30, 2025 and December 31, 2024 are as follows:


(In millions of won)
		September 30, 2025	December 31, 2024
Trade accounts and notes receivable, net	W	3,318,000	3,624,477
Other accounts receivable
Non-trade receivables, net	W	70,653	227,477
Accrued income, net		34,806	22,552
Subtotal		105,459	250,029
Total		3,423,459	3,874,506

Trade Accounts and Notes Receivable, and Other Accounts Receivable, Continued

(b) The aging of trade accounts and notes receivable and other accounts receivable as of September 30, 2025 and December 31, 2024 are as follows:


(In millions of won)		September 30, 2025
		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	3,309,971	81,202	(797)	(491)
1-15 days past due		8,554	6,474	-	(1)
16-30 days past due		19	341	-	(1)
31-60 days past due		-	3,497	-	(1)
More than 60 days past due		253	14,488	-	(49)
Total	W	3,318,797	106,002	(797)	(543)


(In millions of won)		December 31, 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	3,609,870	207,928	(1,369)	(464)
1-15 days past due		15,951	37,722	(14)	(2)
16-30 days past due		4	1,915	-	(1)
31-60 days past due		35	350	-	(3)
More than 60 days past due		-	2,592	-	(8)
Total	W	3,625,860	250,507	(1,383)	(478)

The movement in the allowance for doubtful account in respect of trade accounts and notes receivable and other accounts receivable for the nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)		2025		2024
		Trade accounts and notes receivable	Other accounts receivable	Trade accounts and notes receivable	Other accounts receivable
At January 1	W	1,383	478	933	207
(Reversal of) bad debt expense		(586)	65	(82)	7
At September 30	W	797	543	851	214

Other Financial Assets

Details of other financial assets as of September 30, 2025 and December 31, 2024 are as follows:


(In millions of won)		September 30, 2025	December 31, 2024
Current assets
Financial assets at fair value through profit or loss
Derivatives (*1)	W	67,671	186,676
Fair value hedging derivatives
Derivatives (*2)	W	-	99,116
Financial assets carried at amortized cost
Deposits	W	12,243	10,429
Short-term loans		19,256	26,098
Subtotal	W	31,499	36,527
Other financial assets
Lease receivables	W	5,827	6,302
Total	W	104,997	328,621
Non-current assets
Financial assets at fair value through profit or loss
Equity instruments	W	116,603	120,501
Convertible securities		-	1,470
Derivatives (*1)		19,284	69,575
Subtotal	W	135,887	191,546
Fair value hedging derivatives
Derivatives (*2)	W	-	19,982
Financial assets carried at amortized cost
Deposits	W	5,933	6,318
Long-term loans		-	11,045
Subtotal	W	5,933	17,363
Other financial assets
Lease receivables	W	2,880	3,761
Total	W	144,700	232,652

(*1) The derivatives, which are not designated as hedging instruments, arise from cross currency interest rate 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.

Inventories

Details of inventories as of September 30, 2025 and December 31, 2024 are as follows:

(i) As of September 30, 2025


(In millions of won)
		Cost	Valuation allowance	Carrying amount
Finished goods	W	1,106,900	(32,425)	1,074,475
Work-in-process		1,266,984	(54,211)	1,212,773
Raw materials		621,295	(13,584)	607,711
Supplies		211,721	(20,267)	191,454
Total	W	3,206,900	(120,487)	3,086,413

(ii) As of December 31, 2024


(In millions of won)
		Cost	Valuation allowance	Carrying amount
Finished goods	W	995,999	(51,305)	944,694
Work-in-process		1,184,516	(82,655)	1,101,861
Raw materials		477,929	(17,648)	460,281
Supplies		184,869	(20,463)	164,406
Total	W	2,843,313	(172,071)	2,671,242

For the nine-month periods ended September 30, 2025 and 2024, the amount of inventories recognized as expenses and (reversal of) loss on valuation of inventory allowance are as follows:


(In millions of won)		2025	2024
Cost of sales	W	16,218,472	17,107,783
Inventories recognized as expense		16,273,318	17,088,471
(Reversal of) write-downs of inventories included in (deducted from) cost of sales		(54,846)	19,312

Investments in equity accounted investees

Details of investments in associates as of September 30, 2025 and December 31, 2024 are as follows:

      (In millions of won)

       
      September 30, 2025

      December 31, 2024

      Associates

      Location

      Closing

      Business

      Percentage of ownership

      Carrying
amount

      Percentage of ownership

      Carrying
amount

      Paju Electric Glass Co., Ltd.

      Paju,
South Korea

      December

      Production of glass for display

      40%

      W

      30,408

      40%

      W

      29,479

      Arctic Sentinel, Inc. 

      Los Angeles, U.S.A.

      March

      Development and production of
tablet for kids

      10%

      -

      10%

      -

      Cynora GmbH

      Bruchsal,
Germany

      December

      Development of organic light emitting materials for displays and lighting devices

      10%

      -

      10%

      -

      Material Science Co., Ltd. (*)

      Hwaseong,
South Korea

      December

      Development, production, and sales of materials for display

      11%

      3,530

      14%

      3,698

(*) Due to the investee’s issuance of new shares, the Parent Company’s percentage of ownership decreased from 14% to 11%.

Although the Parent Company’s respective share interests in 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 nine-month periods ended September 30, 2025 and 2024 amounted to W1,664 million and W200 million, respectively.

Property, Plant and Equipment

(a) Changes in property, plant and equipment for the nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)		2025	2024
Book value as of January 1	W	17,202,873	20,200,332
Acquisitions		872,000	1,232,567
Depreciation		(2,823,657)	(3,324,357)
Disposals		(113,109)	(246,279)
Impairment loss (*)		(1,847)	(73,036)
Effect of movements in exchange rates and others		(202,366)	248,388
Government grants received		(1,041)	(2,307)
Reclassified as held for sale		-	(567,015)
Book value as of September 30	W	14,932,853	17,468,293

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

(b) For the nine-month period ended September 30, 2025, the capitalized borrowing costs amounted to W10,448 million (For the nine-month period ended September 30, 2024: W35,917 million), and capitalization rate is 4.67% (For the nine-month period ended September 30, 2024: 5.35%).

10.

Intangible Assets

Changes in intangible assets for the nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)		2025	2024
Book value as of January 1	W	1,558,407	1,773,955
Acquisitions		101,461	83,712
Acquisitions by Internal Development		454,743	473,190
Amortization		(570,852)	(622,240)
Disposals		(4,067)	(6,575)
Impairment loss (*)		(3,872)	(69,457)
Others		265	838
Effect of movements in exchange rates		(4,800)	19,115
Reclassified as held for sale		-	(733)
Book value as of September 30	W	1,531,285	1,651,805

(*) If there are indications of impairment, impairment losses are recognized for the difference between the carrying amount and the recoverable amount of intangible assets.

11.

Investment Property

(a) Changes in investment property for the nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)		2025	2024
Book value as of January 1	W	27,911	32,995
Transferred to property, plant and equipment		(6,496)	-
Depreciation		(3,776)	(3,812)
Others		613	-
Book value as of September 30	W	18,252	29,183

(b) For the nine-month period ended September 30, 2025, rental revenue from investment property is W7,379 million (For the nine-month period ended September 30, 2024: W6,457 million) and rental cost is W4,045 million (For the nine-month period ended September 30, 2024: W4,077 million).

12.

Financial Liabilities

(a)

Details of financial liabilities as of September 30, 2025 and December 31, 2024 are as follows:


(In millions of won)
		September 30, 2025	December 31, 2024
Current
Short-term borrowings	W	1,493,556	969,595
Current portion of long-term borrowings		3,510,896	4,907,390
Current portion of bonds		394,837	611,882
Derivatives (*)		9,488	3,762
Lease liabilities		36,178	34,821
Total	W	5,444,955	6,527,450
Non-current
Long-term borrowings	W	7,959,831	7,535,290
Bonds		124,844	525,957
Derivatives (*)		9,182	7,006
Lease liabilities		28,071	23,154
Total	W	8,121,928	8,091,407

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

12.

Financial Liabilities, Continued

(b) Details of short-term borrowings as of September 30, 2025 and December 31, 2024 are as follows:


(In millions of won)
Lender	Description	Annual interest rate as of September 30, 2025 (%)		September 30, 2025	December 31, 2024
Standard Chartered Bank Korea Limited and others	Working capital and others	2.60~6.17	W	1,493,556	969,595

(c) Details of Korean won denominated long-term borrowings as of September 30, 2025 and December 31, 2024 are as follows:


(In millions of won)
Lender	Description	Latest maturity date	Annual interest rate as of September 30, 2025 (%)		September 30, 2025	December 31, 2024
LG Electronics Inc.	Operating capital	-	-	W	-	1,000,000
Korea Development Bank and others	Facility capital and others	January 2026 ~ March 2030	3.46~5.65		4,037,547	3,668,538
Less: current portion					(1,152,500)	(1,861,000)
Total				W	2,885,047	2,807,538

(d) Details of foreign currency denominated long-term borrowings as of September 30, 2025 and December 31, 2024 are as follows:

(In millions of won, USD and CNY)


Lender	Description	Latest maturity date	Annual interest rate as of September 30, 2025 (%)		September 30, 2025	December 31, 2024
KEB Hana Bank and others	Facility capital and others	October 2025 ~ July 2029	2.13~6.72	W	7,433,180	7,774,142
Foreign currency equivalent of foreign currency borrowings					USD 2,101	USD 2,528
Foreign currency equivalent of foreign currency borrowings					CNY 22,800	CNY 20,164
Less: current portion					(2,358,396)	(3,046,390)
Total				W	5,074,784	4,727,752

12.

Financial Liabilities, Continued

(e) Details of bonds issued and outstanding as of September 30, 2025 and December 31, 2024 are as follows:


(In millions of won and USD)
	Maturity	Annual interest rate as of September 30, 2025 (%)		September 30, 2025	December 31, 2024
Korean won denominated bonds at amortized cost (*1)
Publicly issued bonds	September 2026 ~ February 2027	2.79~3.66	W	335,000	655,000
Privately issued bonds	January 2026	7.25		45,000	337,000
Less: discount on bonds				(341)	(705)
Less: current portion				(254,815)	(611,882)
Subtotal			W	124,844	379,413
Foreign currency denominated bonds at amortized cost (*2)
Privately issued bonds	April 2026	6.21	W	140,220	147,000
Foreign currency equivalent of foreign currency denominated bonds				USD 100	USD 100
Less: discount on bonds				(198)	(456)
Less: foreign currency equivalent of discount on bonds of foreign currency denominated bonds				USD (0)	USD (0)
Less: current portion				(140,022)	-
Subtotal			W	-	146,544
Total			W	124,844	525,957

(*1) Principal of the Korean 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.

13.

Post-employment Benefits

(a) Defined benefit plans

The Parent Company and its 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 its certain subsidiaries.

i) Details of net defined benefit liabilities (defined benefit assets) recognized as of September 30, 2025 and December 31, 2024 are as follows:


(In millions of won)
		September 30, 2025	December 31, 2024
Present value of defined benefit obligations	W	1,346,047	1,444,252
Fair value of plan assets		(1,432,980)	(1,603,911)
Total	W	(86,933)	(159,659)
Defined benefit liabilities, net	W	1,151	1,093
Defined benefit assets, net	W	(88,084)	(160,752)

ii) Details of plan assets as of September 30, 2025 and December 31, 2024 are as follows:


(In millions of won)
		September 30, 2025	December 31, 2024
Time deposits in banks	W	1,432,980	1,603,911

As of September 30, 2025, the Group maintains the plan assets primarily with Shinhan Bank, KEB Hana Bank and others.

iii) Details of expenses related to defined benefit plans recognized in profit or loss for the three-month and nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)		For the three-month periods ended September 30		For the nine-month periods ended September 30
		2025	2024	2025	2024
Current service cost	W	36,520	37,196	110,306	114,421
Net interest cost		(1,243)	(4,713)	(4,366)	(14,140)
Total (*)	W	35,277	32,483	105,940	100,281

(*) The total cost related to the defined benefit plans includes capitalized amounts of W8,094 million (for the nine-month period ended September 30, 2024: W7,665 million).

(b) Defined contribution plans

The amount recognized as an expense in relation to the defined contribution plan for the nine-month period ended September 30, 2025 is W23,006 million (for the nine-month period ended September 30, 2024: W13,859 million).

14.

Provisions

Changes in provisions for the nine-month periods ended September 30, 2025 and 2024 are as follows:

(i) 2025


(In millions of won)
		Litigation	Warranties (*)	Others	Total
At January 1, 2025	W	7,479	152,683	5,997	166,159
Additions		3,537	49,586	8,453	61,576
Usage		(11,016)	(62,906)	(10,327)	(84,249)
At September 30, 2025	W	-	139,363	4,123	143,486
Current	W	-	84,507	4,123	88,630
Non-current	W	-	54,856	-	54,856

(*) 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.

(ii) 2024


(In millions of won)
		Litigation	Warranties (*)	Others	Total
At January 1, 2024	W	1,806	173,795	5,880	181,481
Additions (reversal)		136	74,047	(235)	73,948
Usage		-	(99,882)	-	(99,882)
At September 30, 2024	W	1,942	147,960	5,645	155,547
Current	W	1,942	89,896	5,645	97,483
Non-current	W	-	58,064	-	58,064

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. The Group continues its vigorous defense of this pending proceeding. As of September 30, 2025, 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 proceeding 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 subsidiaries, up to USD 1,000 million (W1,402,200 million). As of September 30, 2025, the amount of discounted accounts receivable under these agreements that had not yet matured was nil. In relation to the above agreements, the financial institutions have the right of recourse for accounts receivable that are past due.

The Group has assignment agreements with Standard Chartered Bank and other banks for accounts receivable related to domestic and export sales transactions, up to W3,919,149 million. As of September 30, 2025, the amount of the sold accounts receivable in connection with these agreements that is outstanding is W1,537,395 million. In relation to the above agreements, the financial institutions do not have a right of recourse against accounts receivable that are past due.

Loan commitment

As of September 30, 2025, the Group has entered into agreements with Hana Bank and other banks for credit lines and opening of letter of credits up to W3,930,075 million.

Payment guarantees

The Group is provided with the payment guarantees for the borrowings amounting to USD 975 million (W1,367,145 million) by the Export-Import Bank of Korea and others.

The Group has entered into agreements with Seoul Guarantee Insurance Co., Ltd., China Construction Bank Corporation and others to receive guarantees up to KRW 1,916 million, CNY 830 million (W163,361 million), JPY 900 million (W8,494 million), VND 75,287 million (W3,998 million), and USD 0.2 million (W254 million) for the performance guarantees, payment of consumption tax, import value-added tax, customs duties, and electricity charges.

15.

Contingent Liabilities and Commitments, Continued

License agreements

As of September 30, 2025, the Group has a trademark license agreement with LG Corp. and pays the usage fee according to the terms of the Agreement.

Collateral

Details of collateral provided by the Group as of September 30, 2025 are as follows:

(In millions of won, CNY)


Collateral	Carrying amount	Maximum secured amount of credit	Secured creditor	Collateral borrowings amount
Property, plant and equipment and others (*)	221,140	780,000	Korea Development Bank and others	650,000
Property, plant and equipment and others	708,963	-	China Construction Bank Corporation and others	CNY 4,500

(*) As of September 30, 2025, property, plant and equipment with a carrying amount of W59,584 million is included in the collateral provided in connection with the settled debt (maximum secured amount of credit: W326,400 million), and the release of collateral rights is in progress.

Commitments for asset acquisition

The amount committed to acquire property, plant, equipment and intangible assets not recognized on the financial statements as of September 30, 2025 is W662,778 million.

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 1,000,000,000 shares, the number of shares issued is 500,000,000 shares (December 31, 2024 : 500,000,000 shares), and the par value per share is W5,000. There were no changes in the share capital of the parent company for the nine-month period ended September 30, 2025.

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 capital stock increased by W710,921 million to W2,500,000 million in the three-month period ended March 31, 2024.

Capital surplus as of September 30, 2025 and December 31, 2024 are as follows:


(In millions of won)
		September 30, 2025	December 31, 2024
Share premium	W	2,821,006	2,821,006
Other capital surplus		(61,822)	(47,419)
Total	W	2,759,184	2,773,587

16.

Share Capital, Share Premium and Reserves, Continued

(b)

Reserves

Reserves consist mainly of the following:

Foreign currency translation differences for foreign operations

Foreign currency translation differences for foreign operations comprise all foreign currency differences arising from the translation of the financial statements of overseas subsidiaries and others.

Other comprehensive income (loss) from associates

The other comprehensive income (loss) from associates comprises the amount related to change in equity of investments in equity method investment.

Reserves as of September 30, 2025 and December 31, 2024 are as follows:


(In millions of won)
		September 30, 2025	December 31, 2024
Foreign currency translation differences for foreign operations	W	899,387	1,025,319
Other comprehensive loss from associates		(27,512)	(29,496)
Other comprehensive income held for sale		-	291,363
Total	W	871,875	1,287,186

17.

Revenue

Details of revenue for the three-month and nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)
		For the three-month periods ended September 30		For the nine-month periods ended September 30
		2025	2024	2025	2024
Sales of goods	W	6,910,684	6,773,608	18,417,182	18,682,153
Royalties		28,201	23,419	99,889	37,671
Others (*)		18,093	24,274	92,161	62,651
Total	W	6,956,978	6,821,301	18,609,232	18,782,475

(*) Others include rental revenue.

For the nine-month period ended September 30, 2025, the revenue recognized by satisfying performance obligation for the amount received from the customer in prior reporting period is W1,104,939 million (For the nine-month period ended September 30, 2024 : W394,902 million).

18.

Geographic and Other Information

(a)

Revenue by geography (Customer based)


(In millions of won) Region
		For the three-month periods ended September 30		For the nine-month periods ended September 30
		2025	2024	2025	2024
Domestic	W	232,681	221,480	734,925	740,213
Foreign
China		3,740,339	4,642,375	10,991,271	12,699,104
Asia (excluding China)		1,248,078	775,707	3,342,481	2,361,394
North America		529,064	633,441	1,500,037	1,662,311
Europe		1,206,816	548,298	2,040,518	1,319,453
Subtotal	W	6,724,297	6,599,821	17,874,307	18,042,262
Total	W	6,956,978	6,821,301	18,609,232	18,782,475

“Company A” and “Company B” accounted for more than 10% of the group’s revenue for the nine-month period ended September 30, 2025, with amounts of W10,408,294 million and W2,462,844 million, respectively (For the nine-month period ended September 30, 2024: W9,805,943 million and W2,607,910 million, respectively). The Group’s top ten customers together accounted for 91% of revenue for the nine-month period ended September 30, 2025 (For the nine-month period ended September 30, 2024: 89%).

18.

Geographic and Other Information, Continued

(b)

Non-current assets by geography


(In millions of won)
Region		September 30, 2025						December 31, 2024
Region			Property, plant and equipment		Intangible assets		Investment Property		Property, plant and equipment		Intangible assets		Investment Property
Domestic	W	10,738,050		1,480,711		18,252		11,913,201		1,485,876		27,911
Foreign
China		1,471,630		8,183		-		2,099,653		16,792		-
Vietnam		2,707,942		30,131		-		3,181,152		41,574		-
Others		15,231		12,260		-		8,867		14,165		-
Subtotal	W	4,194,803		50,574		-		5,289,672		72,531		-
Total	W	14,932,853		1,531,285		18,252		17,202,873		1,558,407		27,911

(c)

Revenue by type of products and services


(In millions of won)
		For the three-month periods ended September 30		For the nine-month periods ended September 30
		2025	2024	2025	2024
TV	W	1,086,265	1,552,952	3,545,769	4,264,506
IT		2,547,110	2,188,798	6,949,566	7,247,709
Mobile and others (*)		2,796,538	2,533,968	6,489,022	5,616,829
AUTO		527,065	545,583	1,624,875	1,653,431
Total (*)	W	6,956,978	6,821,301	18,609,232	18,782,475

(*) This includes royalties and other revenue.

For the nine-month period ended September 30, 2025, the proportion of revenue from OLED products to total revenue was 59% (for the nine-month period ended September 30, 2024 : 53%).

19.

The Nature of Expenses

The classification of expenses by nature for the three-month and nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)
		For the three-month periods ended September 30		For the nine-month periods ended September 30
		2025	2024	2025	2024
Changes in inventories	W	(217,840)	(256,362)	(415,171)	(810,426)
Purchases of raw materials and others		3,532,510	3,449,422	8,821,766	9,504,445
Depreciation and amortization		992,821	1,242,583	3,360,621	3,902,268
Outsourcing		341,017	302,200	966,994	857,631
Labor		836,513	1,018,609	2,562,328	2,787,038
Supplies and others		240,600	246,520	680,098	693,844
Utility		340,524	373,824	976,400	1,034,159
Fees and commissions		179,016	192,585	503,576	535,879
Freight cost		29,948	53,125	87,491	128,206
Advertising		16,857	17,196	43,703	47,961
Warranty		26,367	32,302	49,586	74,047
Travel		9,473	12,464	31,915	40,448
Taxes and dues		27,891	33,438	85,592	104,182
Others		170,244	183,994	505,865	526,497
Total (*)	W	6,525,941	6,901,900	18,260,764	19,426,179

(*) Total expenses consist of cost of sales, selling, administrative, research and development expenses.

20.

Selling and Administrative Expenses

Details of selling and administrative expenses for the three-month and nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)		For the three-month periods ended September 30		For the nine-month periods ended September 30
		2025	2024	2025	2024
Salaries	W	127,909	248,327	345,559	427,627
Post-employment benefit		6,979	5,437	19,838	17,149
Other employee benefits		18,904	20,516	58,940	63,419
Freight cost		20,768	39,941	59,138	87,980
Fees and commissions		57,820	62,989	165,929	180,104
Depreciation and amortization		56,859	66,761	166,505	204,964
Taxes and dues		5,979	14,713	20,727	48,055
Advertising		16,857	17,196	43,703	47,961
Warranty		26,367	32,302	49,586	74,047
Insurance		3,226	3,532	9,419	10,610
Travel		2,626	2,809	8,711	9,859
Training		1,756	1,853	6,921	8,042
Others		18,842	19,885	53,928	67,415
Total	W	364,892	536,261	1,008,904	1,247,232

21.

Other Non-operating Income and Other Non-operating Expenses

(a) Details of other non-operating income for the three-month and nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)		For the three-month periods ended September 30		For the nine-month periods ended September 30
		2025	2024	2025	2024
Foreign currency gain	W	(45,614)	372,731	1,318,944	1,113,096
Gain on disposal of assets held for sale		(5,178)	-	759,387	-
Gain on disposal of property, plant and equipment		4,879	3,453	19,332	47,652
Others		6,933	6,099	71,724	25,098
Total	W	(38,980)	382,283	2,169,387	1,185,846

(b) Details of other non-operating expenses for the three-month and nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)		For the three-month periods ended September 30		For the nine-month periods ended September 30
		2025	2024	2025	2024
Foreign currency loss	W	156,655	290,234	1,153,892	1,331,933
Loss on disposal of property, plant and equipment		10,732	19,112	49,612	59,610
Impairment loss on property, plant and equipment		390	1,122	4,136	77,350
Impairment loss on intangible assets		2,367	19,475	3,872	69,471
Others		6,173	16,260	19,885	27,945
Total	W	176,317	346,203	1,231,397	1,566,309

22.

Finance Income and Finance Costs

Details of finance income and costs recognized in profit or loss for the three-month and nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)		For the three-month periods ended September 30		For the nine-month periods ended September 30
		2025	2024	2025	2024
Finance income
Interest income	W	10,431	24,542	42,791	69,021
Foreign currency gain		(68,568)	175,622	342,557	262,514
Gain on transaction of derivatives		10,276	46,763	109,915	229,982
Gain on valuation of derivatives		3,989	(63,715)	4,834	1,326
Gain on valuation of financial assets at fair value through profit or loss		3,804	-	5,480	-
Others		138	-	442	-
Total	W	(39,930)	183,212	506,019	562,843
Finance costs
Interest expense	W	166,661	233,520	542,019	689,957
Foreign currency loss		69,642	1,048	170,373	345,888
Loss on sale of trade accounts and notes receivable		3,683	5,673	14,287	22,572
Loss on valuation of derivatives		(99,206)	104,164	182,032	106,246
Loss on valuation of financial assets at fair value through profit or loss		802	-	2,814	-
Others		4,330	2,532	8,945	7,522
Total	W	145,912	346,937	920,470	1,172,185

23.

Earnings (Loss) Per Share

(a)

Basic earnings (loss) per share for the three-month and nine-month periods ended September 30, 2025 and 2024 are as follows:


(In won and number of shares)		For the three-month periods ended September 30		For the nine-month periods ended September 30
		2025	2024	2025	2024
Profit (loss) for the period	W	(20,657,364,913)	(355,159,361,649)	582,429,100,536	(1,644,843,015,057)
Weighted-average number of common shares outstanding		500,000,000	500,000,000	500,000,000	461,599,861
Basic earnings (loss) per share	W	(41)	(710)	1,165	(3,563)

Due to paid-in capital increase for the three-month period ended March 31, 2024, the number of outstanding shares has increased.

(b) Diluted earnings (loss) per share is not different from basic earnings (loss) per share as there are no dilution effects of potential common stocks.

24.

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. The currencies in which these transactions primarily are denominated are USD and JPY, etc.

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.

Cross currency interest rate swap contracts, USD 780 million (December 31, 2024: USD 500 million) and CNY 700 million (December 31, 2024: CNY 726 million) were entered into to manage currency risk with respect to foreign currency denominated borrowings and USD 960 million (December 31, 2024: USD 980 million) were entered into to manage currency risk and interest rate risk with respect to foreign currency denominated borrowings and bonds.

Forward exchange contracts, there is no balance which were entered into to manage currency risk with respect to advances received in foreign currency. (December 31, 2024: USD 750 million)

24.

Financial Risk Management, Continued

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 September 30, 2025 and December 31, 2024, 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 profit or loss before income tax would have been as follows:


(In millions of won)
		September 30, 2025	December 31, 2024
USD (5 percent weakening)	W	77,089	(35,868)
JPY (5 percent weakening)		(5,374)	(6,645)

A stronger won against the above currencies as of September 30, 2025 and December 31, 2024 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.

24.

Financial Risk Management, Continued

(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 960 million (W1,346,112 million) and interest rate swap contracts amounting to W 2,305,000 million in notional amount to hedge interest rate risk with respect to variable interest bearing borrowings.

i) Profile

The interest rate profile of the Group’s interest-bearing financial instruments as of September 30, 2025 and December 31, 2024 is as follows:


(In millions of won)		September 30, 2025	December 31, 2024
		September 30, 2025	December 31, 2024
Fixed rate instruments
Financial assets	W	1,549,599	2,023,710
Financial liabilities		(3,150,571)	(4,722,962)
Total	W	(1,600,972)	(2,699,252)
Variable rate instruments
Financial liabilities	W	(10,333,393)	(9,827,152)

ii) Profit or loss before income tax sensitivity analysis for variable rate instruments

As of September 30, 2025 and December 31, 2024, a change of 100 basis points in interest rates at the reporting date would have increased (decreased) profit or loss before income tax 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)		Profit or loss before income tax
		1%p increase	1%p decrease
September 30, 2025
Variable rate instruments	W	(103,334)	103,334
December 31, 2024
Variable rate instruments	W	(98,272)	98,272

24.

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, does 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 September 30, 2025 and December 31, 2024 are as follows:


(In millions of won)
		September 30, 2025	December 31, 2024
Financial assets carried at amortized cost
Cash equivalents	W	1,548,799	2,021,640
Deposits in banks		811	611
Trade accounts and notes receivable, net		2,778,153	2,500,608
Non-trade receivables, net		70,653	227,477
Accrued income, net		34,806	22,552
Deposits		18,176	16,747
Loans		19,256	37,143
Subtotal		4,470,654	4,826,778
Other financial assets
Lease receivables	W	8,707	10,063
Financial assets at fair value through profit or loss
Convertible securities	W	-	1,470
Derivatives		86,955	256,251
Subtotal	W	86,955	257,721
Financial assets at fair value through other comprehensive profit or loss
Trade accounts and notes receivable, net	W	539,847	1,123,869
Financial assets effective for fair value hedging
Derivatives	W	-	119,098
Total	W	5,106,163	6,337,529

24.

Financial Risk Management, Continued

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.

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 liquidity management policy involves projecting cash flows in major currencies and considering the level of liquid assets necessary to meet these, monitoring liquidity ratios against internal and external regulatory requirements and maintaining debt financing plans.

The Group has historically been able to satisfy its cash requirements from cash flows from operations and debt and equity financing. 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 September 30, 2025 and December 31, 2024.

24.

Financial Risk Management, Continued

(i) As of September 30, 2025


(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	12,964,283	13,387,637	3,623,544	1,402,760	4,040,872	4,320,461	-
Bonds		519,681	541,104	56,204	357,615	127,285	-	-
Trade accounts and notes payable (*)		4,369,909	4,369,909	4,369,909	-	-	-	-
Other accounts payable (*)		1,361,906	1,347,110	1,310,653	36,457	-	-	-
Long-term other accounts payable		239,563	272,027	-	-	65,904	176,677	29,446
Security deposits received		138,228	148,426	480	1,937	4,949	141,060	-
Lease liabilities		64,249	67,529	24,335	13,836	12,792	15,077	1,489
Derivative financial liabilities
Derivatives	W	18,670	10,750	5,778	2,968	2,492	(488)	-
Cash outflow		-	505,566	173,440	20,224	164,880	147,022	-
Cash inflow		-	(494,816)	(167,662)	(17,256)	(162,388)	(147,510)	-
Total	W	19,676,489	20,144,492	9,390,903	1,815,573	4,254,294	4,652,787	30,935

(*) As of September 30, 2025, it includes W1,221,599 million of payable to credit card companies for utility expenses and others paid using business credit card for purchases. The Group presented the payable to credit card companies as trade account notes payables and other accounts payable and disclosed related cash flows as operating and investing activities since the Group is using the business credit card for purchases 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.

24.

Financial Risk Management, Continued

(ii) As of December 31, 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	13,412,275	14,453,995	3,730,807	2,609,727	3,941,215	4,146,933	25,313
Bonds		1,137,839	1,185,892	631,539	11,638	416,573	126,142	-
Trade accounts and notes payable (*)		4,156,149	4,156,149	3,884,788	271,361	-	-	-
Other accounts payable (*)		1,720,670	1,723,867	1,404,896	318,971	-	-	-
Long-term other accounts payable		279,774	323,400	-	-	69,090	192,570	61,740
Security deposits received		160,713	189,214	-	808	6,841	181,565	-
Lease liabilities		57,975	60,653	23,948	12,681	13,889	9,423	712
Derivative financial liabilities
Derivatives	W	10,768	11,184	930	3,447	4,495	2,312	-
Cash outflow		-	75,016	21,402	20,467	22,342	10,805	-
Cash inflow		-	(63,832)	(20,472)	(17,020)	(17,847)	(8,493)	-
Total	W	20,936,163	22,104,354	9,676,908	3,228,633	4,452,103	4,658,945	87,765

(*) As of December 31, 2024, it includes W1,187,450 million of payable to credit card companies for utility expenses and others paid using business credit card for purchases. The Group presented the payable to credit card companies as trade account notes payables and other accounts payable and disclosed related cash flows as operating and investing activities since the Group is using the business credit card for purchases 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.

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

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. The Group is also responsible for complying with certain financial ratios as part of capital maintenance conditions imposed externally. To fulfill this responsibility, the Group regularly monitors these financial ratios and takes proactive measures when necessary.


(In millions of won)
		September 30, 2025	December 31, 2024
Total liabilities	W	20,798,027	24,786,759
Total equity		7,915,229	8,072,807
Cash and deposits in banks (*1)		1,549,599	2,022,240
Borrowings (including bonds)		13,483,964	14,550,114
Total liabilities to equity ratio		263%	307%
Net borrowings to equity ratio (*2)		151%	155%

(*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.

(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.

24.

Financial Risk Management, Continued

(ii) Fair values versus carrying amounts

The fair values of financial assets and liabilities, together with the carrying amounts as of September 30, 2025 and December 31, 2024 are as follows:


(In millions of won)		September 30, 2025		December 31, 2024
		Carrying amounts	Fair values	Carrying amounts	Fair values
Financial assets carried at amortized cost
Cash and cash equivalents	W	1,548,799	(*1)	2,021,640	(*1)
Deposits in banks		811	(*1)	611	(*1)
Trade accounts and notes receivable, net		2,778,153	(*1)	2,500,608	(*1)
Non-trade receivables, net		70,653	(*1)	227,477	(*1)
Accrued income, net		34,806	(*1)	22,552	(*1)
Deposits		18,176	(*1)	16,747	(*1)
Loans		19,256	(*1)	37,143	(*1)
Financial assets at fair value through profit or loss
Equity instruments	W	116,603	116,603	120,501	120,501
Convertible securities		-	-	1,470	1,470
Derivatives		86,955	86,955	256,251	256,251
Financial assets at fair value through other comprehensive profit or loss
Trade accounts and notes receivable, net	W	539,847	(*1)	1,123,869	(*1)
Financial assets effective for fair value hedging
Derivatives	W	-	-	119,098	119,098
Other financial assets
Lease receivables		8,707	(*1)	10,063	(*1)
Financial liabilities carried at amortized cost
Borrowings	W	12,964,283	13,009,008	13,412,275	13,482,726
Bonds		519,681	521,453	1,137,839	1,142,725
Trade accounts and notes payable		4,369,909	(*1)	4,156,149	(*1)
Other accounts payable		1,601,469	(*1)	2,000,444	(*1)
Security deposits received		138,228	(*1)	160,713	(*1)
Financial liabilities at fair value through profit or loss
Derivatives	W	18,670	18,670	10,768	10,768
Other financial liabilities
Lease liabilities	W	64,249	(*2)	57,975	(*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’.

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

The Group measures fair value for financial reporting purposes, including fair value measurements, which are classified as “Level 3”. The Group consults on the fair value assessment process and its results in accordance with the financial reporting schedule, and recognizes changes in the "level" at the end of the reporting period when there is a change in events or circumstances that cause a shift between fair value levels.

24.

Financial Risk Management, Continued

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 September 30, 2025 and December 31, 2024 are as follows:


(In millions of won)			September 30, 2025			Total
Classification			Level 1	Level 2	Level 3	Total
	Financial assets at fair value through profit or loss
	Equity instruments	W	20,999	-	95,604	116,603
	Derivatives		-	86,955	-	86,955
	Financial liabilities at fair value through profit or loss
	Derivatives	W	-	18,670	-	18,670


(In millions of won)			December 31, 2024			Total
Classification			Level 1	Level 2	Level 3	Total
	Financial assets at fair value through profit or loss
	Equity instruments	W	18,958	-	101,543	120,501
	Convertible securities		-	-	1,470	1,470
	Derivatives		-	256,251	-	256,251
	Financial assets effective for fair value hedging
	Derivatives	W	-	119,098	-	119,098
	Financial liabilities at fair value through profit or loss
	Derivatives	W	-	10,768	-	10,768

24.

Financial Risk Management, Continued

The valuation techniques and inputs for assets and liabilities measured at fair value that are classified as Level 2 and Level 3 within the fair value hierarchy as of September 30, 2025 and December 31, 2024 are as follows:

      (In millions of won)

      September 30, 2025

      December 31, 2024

      Valuation technique

      Input

      Classification

      Level 2

      Level 3

      Level 2

      Level 3

      Financial assets at fair value through profit or loss

      Equity instruments

      W

      -

      95,604

      -

      101,543

      Net asset value method and Comparable company analysis

      Price to book value ratio

      Convertible securities

      -

      -

      -

      1,470

      Risk-adjusted discount model and binominal option pricing model

      Discount rate, stock price and volatility

      Derivatives

      86,955

      -

      256,251

      -

      Discounted cash flow

      Discount rate and Exchange rate

      Financial assets effective for fair value hedging

      Derivatives

      W

      -

      -

      119,098

      -

      Discounted cash flow

      Discount rate and Exchange rate

      Financial liabilities at fair value through profit or loss

      Derivatives

      W

      18,669

      -

      10,768

      -

      Discounted cash flow

      Discount rate and Exchange rate

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 techniques 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 September 30, 2025 and December 31, 2024 are as follows:

      (In millions of won)

      September 30, 2025

      Valuation technique

      Input

      Classification

      Level 1

      Level 2

      Level 3

      Liabilities

       
      Borrowings

      W

      -

      -

      13,009,008

      Discounted cash flow

      Discount rate

       
      Bonds

      -

      -

      521,453

      Discounted cash flow

      Discount rate

      (In millions of won)

      December 31, 2024

      Valuation technique

      Input

      Classification

      Level 1

      Level 2

      Level 3

      Liabilities

       
      Borrowings

      W

      -

      -

      13,482,726

      Discounted cash flow

      Discount rate

       
      Bonds

      -

      -

      1,142,725

      Discounted cash flow

      Discount rate

iv) The interest rates applied for determination of the above fair value as of September 30, 2025 and December 31, 2024 are as follows:


	September 30, 2025	December 31, 2024
Borrowings, bonds and others	2.92%~3.58%	3.70%~3.96%

24.

Financial Risk Management, Continued

v) There is no transfer between Level 1, Level 2 and Level 3 for the nine-month periods ended September 30, 2025 and 2024, and the changes in financial assets classified as Level 3 of fair value measurements for the nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)
Classification		January 1, 2025	Acquisition	Disposal	Valuation	Changes in Foreign Exchange Rates	September 30, 2025
Equity instruments	W	101,543	1,422	-	(2,779)	(4,582)	95,604
Convertible securities		1,470	-	(1,399)	-	(71)	-


(In millions of won)
Classification		January 1, 2024	Acquisition	Disposal	Valuation	Changes in Foreign Exchange Rates	September 30, 2024
Equity instruments	W	87,027	4,792	(128)	-	1,775	93,466
Convertible securities		3,127	-	-	-	30	3,157

25.

Cash Flow Information

(a) Details of cash flows generated from operations for the nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)
		2025	2024
Profit (loss) for the period	W	654,986	(1,570,182)
Adjustments for:	W
Income tax expense (benefit)		218,298	(59,007)
Depreciation and amortization (Note 19)		3,360,621	3,902,268
Gain on foreign currency translation		(154,375)	(362,452)
Loss on foreign currency translation		161,645	318,513
Post-employment benefit (Note 13)		105,940	100,281
Gain on disposal of assets held for sale		(759,387)	-
Gain on disposal of property, plant and equipment		(19,332)	(47,652)
Loss on disposal of property, plant and equipment		49,612	59,610
Impairment loss on property, plant and equipment		4,136	77,350
Impairment loss on intangible assets		3,872	69,471
Expense on increase of provisions		61,576	74,047
Finance income		(424,878)	(417,777)
Finance costs		730,532	959,436
Equity in income of equity method accounted investees		(1,277)	(4,320)
Others		(1,829)	(18,426)
Changes in:	W
Trade accounts and notes receivable		(715,518)	(434,094)
Other accounts receivable		334,493	(37,958)
Inventories		(424,985)	(857,419)
Other current assets		28,417	(68,530)
Other non-current assets		(6,762)	(1,244)
Trade accounts and notes payable		(1,599,701)	989,511
Other accounts payable		(53,284)	(798,861)
Accrued expenses		40,457	58,737
Provisions		(85,327)	(100,117)
Advances received		(90,496)	(5,682)
Proceeds from settlement of derivatives		79,881	21,800
Other current liabilities		(15,542)	(8,974)
Defined benefit liabilities (assets), net		7,941	(12,080)
Other non-current liabilities		49,852	2,689
Cash generated from operations	W	1,539,566	1,828,938

25.

Cash Flow Information, Continued

(b) Changes in liabilities arising from financing activities for the nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)
				Non-cash transactions
		January 1, 2025	Cash flows from financing activities	Gain or loss on foreign currency translation	Interest expense	Others	September 30, 2025
Short-term borrowings	W	969,595	606,952	(82,991)	-	-	1,493,556
Long-term borrowings		12,442,680	(736,328)	(242,936)	8,463	(1,152)	11,470,727
Bonds		1,137,839	(612,000)	(6,771)	613	-	519,681
Security deposits received		160,713	(40,500)	-	-	18,015	138,228
Lease liabilities		57,975	(40,698)	(44,512)	-	91,484	64,249
Dividend payable		6,390	(6,390)	-	-	-	-
Total	W	14,775,192	(828,964)	(377,210)	9,076	108,347	13,686,441


(In millions of won)
				Non-cash transactions
		January 1, 2024	Cash flows from financing activities	Gain or loss on foreign currency translation	Interest expense	Classification of liabilities held for sale	Others	September 30, 2024
Short-term borrowings	W	1,875,635	(724,672)	36,250	-	-	-	1,187,213
Long-term borrowings		13,165,351	(3,568)	332,618	3,208	(995,510)	5,568	12,507,667
Bonds		1,488,143	(370,000)	3,009	1,277	-	-	1,122,429
Security deposits received		153,370	-	-	-	-	3,481	156,851
Lease liabilities		73,364	(53,582)	21,414	-	(5,523)	27,672	63,345
Dividend payable		7,302	(136,519)	-	-	-	129,217	-
Total	W	16,763,165	(1,288,341)	393,291	4,485	(1,001,033)	165,938	15,037,505

25.

Cash Flow Information, Continued

(c) For the nine-month period ended September 30, 2025, the Group disposed of its subsidiaries, LG Display Guangzhou Co., Ltd. and LG Display (China) Co., Ltd. Details of the disposals are as follows:


(In millions of won)
		2025
Total consideration from disposal
Cash and cash equivalents	W	2,213,606
Other accounts payable and others		(6,366)
Subtotal	W	2,207,240
Carrying amount of disposed assets
Cash and cash equivalents	W	1,390,495
Trade accounts and notes receivable, net		1,523,477
Inventories, net		63,516
Property, plant and equipment		606,636
Others		11,525
Subtotal	W	3,595,649
Carrying amount of disposed liabilities
Trade accounts and notes payable	W	329,993
Financial liabilities		1,063,548
Other accounts payables and others		102,211
Others		722
Subtotal	W	1,496,474
Non-controlling interests	W	396,554
Reclassification of foreign currency translation differences for foreign operations		254,768
Gain on disposal		759,387

26.

Related Parties and Others

(a) Related parties

Details of related parties as at September 30, 2025 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.

26.

Related Parties and Others, Continued

(b) Details of major transactions with related parties for the nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)		2025
				Purchase and others
		Sales and others	Dividend income	Purchase of raw material and others	Others(*)
Associates
Paju Electric Glass Co., Ltd.	W	-	1,664	188,058	8,938
Material Science Co., Ltd.		-	-	230	-
Entity that has significant influence over the Parent Company
LG Electronics Inc.	W	216,449	-	13,377	181,986
Subsidiaries of the entity that has significant influence over the Parent Company
LG Electronics India Pvt. Ltd.	W	29,058	-	-	78
LG Electronics Vietnam Haiphong Co., Ltd.		180,707	-	-	1,691
LG Electronics Nanjing New Technology Co., Ltd.		149,760	-	-	294
LG Electronics do Brasil Ltda.		21,925	-	-	70
LG Innotek Co., Ltd.		7,557	-	21,328	56,543
LG Electronics Mlawa Sp. z o.o.		819,312	-	-	807
LG Electronics Reynosa S.A. DE C.V.		670,973	-	-	782
LG Electronics Egypt S.A.E		9,021	-	-	9
LG Electronics Japan, Inc.		-	-	-	4,516
LG Electronics U.S.A., Inc.		-	-	-	1,798
P.T. LG Electronics Indonesia		352,875	-	-	599
HI-M Solutek Co., Ltd		-	-	-	8,576
Others		502	-	162	1,999
Total	W	2,458,139	1,664	223,155	268,686

(*) Others include the amount of the acquisition of property, plant, and equipment.

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	Others(*1)
Associates
AVATEC Co., Ltd.(*2)	W	-	200	52,983	2,947
Paju Electric Glass Co., Ltd.		-	-	176,641	6,093
WooRee E&L Co., Ltd.(*2)		-	-	5,045	32
YAS Co., Ltd.(*2)		-	-	5,266	7,578
Material Science Co., Ltd.		-	-	-	888
Entity that has significant influence over the Parent Company
LG Electronics Inc.	W	260,558	-	14,565	284,590
Subsidiaries of the entity that has significant influence over the Parent Company
LG Electronics India Pvt. Ltd.	W	46,695	-	-	208
LG Electronics Vietnam Haiphong Co., Ltd.		214,830	-	-	4,909
LG Electronics Nanjing New Technology Co., Ltd.		289,925	-	-	560
LG Electronics do Brasil Ltda.		17,739	-	-	217
LG Innotek Co., Ltd.		8,371	-	15,219	53,011
LG Electronics Mlawa Sp. z o.o.		636,686	-	-	743
LG Electronics Reynosa S.A. DE C.V.		678,569	-	-	543
LG Electronics Egypt S.A.E		14,232	-	-	23
LG Electronics Japan, Inc.		-	-	-	4,618
LG Electronics RUS, LLC		-	-	-	4,005
P.T. LG Electronics Indonesia		360,616	-	-	802
HI-M Solutek Co., Ltd		-	-	-	5,426
Others		98	-	155	3,147
Total	W	2,528,319	200	269,874	380,340

(*1) Others include the amount of the acquisition of property, plant, and equipment.

(*2) For the nine-month period ended September 30, 2024, the entity was excluded from associates due to the loss of significant influence over the Company, and the transaction amount represents the amount prior to its exclusion.

26.

Related Parties and Others, Continued

(c) Details of balances of receivables and payables from transactions with related parties as of September 30, 2025 and December 31, 2024 are as follows:


(In millions of won)
		Trade accounts and notes receivable and others		Trade accounts and notes payable and others
		September 30, 2025	December 31, 2024	September 30, 2025	December 31, 2024
Associates
Paju Electric Glass Co., Ltd.	W	-	-	62,528	64,140
Material Science Co., Ltd.		-	-	11	261
Entity that has significant influence over the Parent Company
LG Electronics Inc.(*1)	W	80,739	179,710	52,029	1,071,592
Subsidiaries of the entity that has significant influence over the Parent Company
LG Electronics Vietnam Haiphong Co., Ltd.	W	32,832	72,521	76	921
LG Electronics Nanjing New Technology Co., Ltd.		19,696	61,922	3	15
LG Electronics India Pvt. Ltd.		7,369	3,317	-	-
LG Innotek Co., Ltd.(*2)		3,642	1,803	171,608	207,258
LG Electronics Mlawa Sp. z o.o.		163,013	149,789	15	131
LG Electronics Reynosa S.A. DE C.V.		153,056	55,500	-	-
P.T. LG Electronics Indonesia		63,231	63,719	60	53
Others		4,710	17,322	4,854	6,397
Total	W	528,288	605,603	291,184	1,350,768

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

(*2) Trade accounts and note payable and others for LG Innotek Co., Ltd. includes deposits received from lease agreement of W139,500 million as of September 30, 2025 and W180,000 million as of December 31, 2024.

26.

Related Parties and Others, Continued

(d) Details of significant financial transactions with related parties and others for the nine-month periods ended September 30, 2025 and 2024 are as follows:


	2025
(In millions of won)	Company Name		Repayment of borrowings
Entity that has significant influence over the Company	LG Electronics Inc.	W	1,000,000


	2024
(In millions of won)	Company Name		Capital increase	Collection of loans
Associates	WooRee E&L Co., Ltd.(*)	W	-	256
Entity that has significant influence over the Company	LG Electronics Inc.	W	436,031	-

(*) For the nine-month period ended September 30, 2024, the entity was excluded from associates due to the loss of significant influence over the Company, and the transaction amount represents the amount prior to its exclusion.

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 nine-month periods ended September 30, 2025 and 2024 and as of September 30, 2025 and December 31, 2024, in accordance with the Monopoly Regulation and Fair Trade Act, are as follows:


(In millions of won)
		For the nine-month period ended September 30, 2025		September 30, 2025
		Sales and others	Purchase and others	Trade accounts and notes receivable and others	Trade accounts and notes payable and others
LG Uplus Corp.	W	-	1,773	-	163
LG Chem Ltd. and its subsidiaries		312	259,554	97	113,303
D&O Corp. and its subsidiaries		194	10,537	-	2,728
LG Corp.(*)		-	42,951	8,277	-
LG Management Development Institute		-	33,893	3	463
LG CNS Co., Ltd. and its subsidiaries		125	159,458	3	39,769
LG Household & Health Care Ltd. and its subsidiaries		-	71	-	33
HSAD Inc. and its subsidiaries		-	945	-	296
Robostar Co., Ltd.		-	281	-	173
Total	W	631	509,463	8,380	156,928

(*) According to the lease agreement signed with LG Corp., the recognized lease liabilities as of September 30, 2025 are W1,713 million, and the lease liabilities are not included in the amount of 'Trade accounts and notes payable and others' above. The amount of lease repayment for the nine-month period ended September 30, 2025 is W5,180 million.

26.

Related Parties and Others, Continued


(In millions of won)
		For the nine-month period ended September 30, 2024		December 31, 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	2,173	-	164
LG Chem Ltd. and its subsidiaries		375	434,432	188	239,895
D&O Corp. and its subsidiaries(*1)		205	64,325	-	86,714
LG Corp.(*2)		-	45,285	7,551	10,731
LG Management Development Institute		-	22,035	3	340
LG CNS Co., Ltd. and its subsidiaries		148	162,270	-	78,229
LG Household & Health Care Ltd. and its subsidiaries		-	95	-	-
HSAD Inc. and its subsidiaries		-	4,909	-	542
Robostar Co., Ltd.		-	507	-	2,398
Total	W	106,028	736,031	7,742	419,013

(*1) Among the D&O Corp. 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.

(*2) According to the lease agreement signed with LG Corp., no recognized lease liabilities as of December 31, 2024. The amount of lease repayment for the nine-month period ended September 30, 2024 is W7,416 million.

26.

Related Parties and Others, Continued

(f) Key management personnel compensation

Details of compensation costs of key management for the nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)
		2025	2024
Short-term benefits	W	1,831	1,797
Post-employment benefit		489	576
Total	W	2,320	2,373

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.

27.

Assets and Liabilities Held for Sale (Disposal Group)

For the year ended December 31, 2024, management of the Group decided to sell 80% of its stake in LG Display (China) Co., Ltd. and 100% of its stake in LG Display Guangzhou Co., Ltd. to TCL CSOT. The contract was signed on September 26, 2024, and the transaction was completed on April 1, 2025.

LG DISPLAY CO., LTD.

Condensed Separate Interim Financial Statements

(Unaudited)

September 30, 2025 and 2024

(With Report on Review of Condensed Interim Financial Statements)

Contents


		Page


Report on Review of Condensed Interim Financial Statements		1

Separate Interim Statements of Financial Position		3

Separate Interim Statements of Comprehensive Income (Loss)		4

Separate Interim Statements of Changes in Equity		5

Separate Interim Statements of Cash Flows		6

Notes to the Condensed Separate Interim Financial Statements		7-59

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 September 30, 2025, and the related interim statements of comprehensive income for the three-month and nine-month periods ended September 30, 2025 and 2024, and interim statements of changes in equity and cash flows for the nine-month periods ended September 30, 2025 and 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.

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

We have audited the statement of financial position of the Company as at December 31, 2024, and the related statements of comprehensive income, changes in equity and cash flows for the year then ended, not presented herein, in accordance with Korean Standards on Auditing. We expressed an unqualified opinion on those financial statements in our audit report dated March 4, 2025. The statement of financial position as at December 31, 2024, presented herein for comparative purposes, is consistent, in all material respects, with the above audited statement of financial position as at December 31, 2024.

November 13, 2025

Seoul, Korea

      This report is effective as of November 13, 2025, 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.

     


LG DISPLAY CO., LTD.
Separate Interim Statements of Financial Position
As of September 30, 2025 and December 31, 2024
(In millions of won)	Note		September 30, 2025 (Unaudited)	December 31, 2024
Assets
Cash and cash equivalents	4, 23	W	97,169	238,477
Trade accounts and notes receivable, net	5, 15, 23, 25		4,246,545	4,964,594
Other accounts receivable, net	5, 23		122,769	215,920
Other current financial assets	6, 23		92,047	320,071
Inventories, net	7		2,079,868	1,786,678
Prepaid income tax			1,313	2,492
Assets held for sale	26		-	1,016,645
Other current assets			122,187	102,518
Total current assets			6,761,898	8,647,395
Deposits in banks	4, 23		11	11
Investments, net	8		3,988,095	3,939,474
Other non-current accounts receivable, net	5, 23		5,876	9,679
Other non-current financial assets	6, 23		44,149	123,523
Property, plant and equipment, net	9		10,737,710	11,913,336
Intangible assets, net	10		1,480,532	1,485,789
Investment property	11		18,252	27,911
Deferred tax assets, net			3,367,293	3,474,990
Defined benefits assets, net	13		87,891	160,564
Other non-current assets			22,011	16,379
Total non-current assets			19,751,820	21,151,656
Total assets		W	26,513,718	29,799,051
Liabilities
Trade accounts and notes payable	23, 25	W	11,000,519	12,011,544
Current financial liabilities	12, 23, 24, 25		4,517,823	5,866,670
Other accounts payable	23		1,123,583	1,438,724
Accrued expenses			510,599	483,236
Provisions	14		87,813	103,962
Advances received			37,510	899,164
Other current liabilities			62,380	62,195
Total current liabilities			17,340,227	20,865,495
Non-current financial liabilities	12, 23, 24		4,417,345	4,308,608
Non-current provisions	14		54,856	60,908
Long-term advances received			-	220,500
Other non-current liabilities	23, 25		515,919	547,742
Total non-current liabilities			4,988,120	5,137,758
Total liabilities			22,328,347	26,003,253
Equity
Share capital	16	W	2,500,000	2,500,000
Share premium	16		2,821,006	2,821,006
Accumulated deficit			(1,135,635)	(1,525,208)
Total equity			4,185,371	3,795,798
Total liabilities and equity		W	26,513,718	29,799,051


See accompanying notes to the condensed separate interim financial statements.


LG DISPLAY CO., LTD.
Separate Interim Statements of Comprehensive Income (Loss)
For the three-month and nine-month periods ended September 30, 2025 and 2024

(In millions of won, except earnings (loss) per share amounts)			For the three-month periods ended September 30		For the nine-month periods ended September 30
			2025	2024	2025	2024
	Note		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)
Revenue	17, 25	W	6,838,899	6,811,193	17,596,601	18,070,434
Cost of sales	7, 18, 25		(6,116,731)	(6,371,886)	(16,502,813)	(17,637,351)
Gross profit			722,168	439,307	1,093,788	433,083
Selling expenses	18, 19		(55,994)	(73,815)	(156,902)	(206,492)
Administrative expenses	18, 19		(185,585)	(305,357)	(443,513)	(594,150)
Research and development expenses	18		(341,157)	(381,901)	(1,024,128)	(1,056,908)
Operating profit (loss)			139,432	(321,766)	(530,755)	(1,424,467)
Finance income	21		(81,465)	83,819	472,916	583,016
Finance costs	21		(53,226)	(154,431)	(632,895)	(775,033)
Other non-operating income	20		(75,890)	308,890	2,084,990	964,187
Other non-operating expenses	20		(93,258)	(164,749)	(925,227)	(1,275,483)
Profit (loss) before income tax			(164,407)	(248,237)	469,029	(1,927,780)
Income tax benefit (expense)			31,213	(118,037)	(117,384)	151,854
Profit (loss) for the period			(133,194)	(366,274)	351,645	(1,775,926)
Other comprehensive income (loss)
Items that will never be reclassified to profit or loss
Remeasurements of net defined benefit liabilities			37,253	(48,289)	37,928	(52,558)
Other comprehensive income (loss) for the period, net of income tax			37,253	(48,289)	37,928	(52,558)
Total comprehensive income (loss) for the period		W	(95,941)	(414,563)	389,573	(1,828,484)
Earnings (loss) per share (in won)
Basic earnings (loss) per share	22	W	(266)	(733)	703	(3,847)
Diluted earnings (loss) per share	22	W	(266)	(733)	703	(3,847)


See accompanying notes to the condensed separate interim financial statements.


LG DISPLAY CO., LTD.
Separate Interim Statements of Changes in Equity
For the nine-month periods ended September 30, 2025 and 2024

		Share capital	Share premium	Retained earnings (Accumulated deficit)	Other capital	Total equity
(In millions of won)		Share capital	Share premium	Retained earnings (Accumulated deficit)	Other capital	Total equity
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		-	-	(1,775,926)	-	(1,775,926)
Other comprehensive income (loss)
Remeasurements of net defined benefit liabilities		-	-	(52,558)	-	(52,558)
Total comprehensive loss for the period	W	-	-	(1,828,484)	-	(1,828,484)
Transaction with owners, recognized directly in equity
Capital increase (Note 16)		710,921	569,893	-	-	1,280,814
Balances at September 30, 2024 (unaudited)	W	2,500,000	2,821,006	(187,121)	-	5,133,885
Balances at January 1, 2025	W	2,500,000	2,821,006	(1,525,208)	-	3,795,798
Total comprehensive income for the period
Profit for the period		-	-	351,645	-	351,645
Other comprehensive income (loss)
Remeasurements of net defined benefit liabilities		-	-	37,928	-	37,928
Total comprehensive income for the period	W	-	-	389,573	-	389,573
Balances at September 30, 2025 (unaudited)	W	2,500,000	2,821,006	(1,135,635)	-	4,185,371


See accompanying notes to the condensed separate interim financial statements.


LG DISPLAY CO., LTD.
Separate Interim Statements of Cash Flows
For the nine-month periods ended September 30, 2025 and 2024

(In millions of won)	Note		2025 (unaudited)	2024 (unaudited)
Cash flows from (used in) operating activities:
Cash generated from (used in) operations	24	W	363,395	(786,964)
Income taxes paid			(12,098)	(11,788)
Interests received			14,772	14,180
Interests paid			(389,117)	(500,126)
Cash flows used in operating activities			(23,048)	(1,284,698)
Cash flows from (used in) investing activities:
Dividends received			102,399	228,833
Proceeds from withdrawal of deposits in banks			-	20,000
Proceeds from disposal of financial assets at fair value through profit or loss			798	2,226
Acquisition of investments			(151,811)	(838,003)
Proceeds from disposal of investments			100,500	933,009
Proceeds from disposal of assets held for sale			1,997,287	-
Acquisition of property, plant and equipment			(691,612)	(1,166,572)
Proceeds from disposal of property, plant and equipment			81,110	245,933
Acquisition of intangible assets			(578,989)	(608,187)
Proceeds from disposal of intangible assets			1,918	6,212
Proceeds from settlement of derivatives			107,455	229,982
Decrease in short-term loans			16,941	14,233
Increase in deposits			-	(979)
Decrease in deposits			1,804	593
Proceeds from disposal of greenhouse gas emission permits			1,742	14,394
Cash flows from (used in) investing activities:			989,542	(918,326)
Cash flows from (used in) financing activities:	24
Proceeds from short-term borrowings			4,082,675	5,076,777
Repayments of short-term borrowings			(3,646,070)	(3,709,363)
Repayments of current portion of bonds			(612,000)	(370,000)
Proceeds from long-term borrowings			1,977,781	1,925,711
Repayments of current portion of long-term borrowings			(2,866,025)	(2,010,552)
Payment guarantee fee received			4,912	5,662
Payments of payment guarantee fee			-	(991)
Capital increase			-	1,292,455
Repayment of security deposits received			(40,500)	-
Transaction cost from capital increase			-	(11,641)
Payments of lease liabilities			(8,575)	(10,420)
Cash flows from (used in) financing activities			(1,107,802)	2,187,638
Net decrease in cash and cash equivalents			(141,308)	(15,386)
Cash and cash equivalents at January 1			238,477	334,502
Cash and cash equivalents at September 30		W	97,169	319,116


See accompanying notes to the condensed separate interim financial statements.

1. Organization and Description of Business

LG Display Co., Ltd. (the "Company") was incorporated in February 1985 and the Company has been a public corporation listed on the Korea Exchange since 2004. The main business of the Company is to manufacture and sell displays and related products. As of September 30, 2025, the Company operates 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 Yeoui-daero, Yeongdeungpo-gu, Seoul. As of September 30, 2025, LG Electronics Inc., a major shareholder of the Company, owns 36.72% (183,593,206 shares) of the Company’s common stock.

As of September 30, 2025, 500,000,000 shares of the Company's common stock are listed on the Korea Exchange under the identifying code 034220, and 32,055,076 American Depositary Shares ("ADSs"; 2 ADSs represent one share of common stock) are listed on the New York Stock Exchange under the symbol "LPL".

2. Basis of Preparation

(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, 2024.

(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 separate statement of financial position:

▪

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

2. Basis of Preparation, Continued

Items included in the financial statements are measured using the currency of the primary economic environment in which each entity operates (the “functional currency"). The separate 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. The actual results may differ from the estimates at the end of the interim reporting period which are based on management’s best estimate, as the underlying assumptions may vary from actual outcomes.

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

The Company has applied the following standards and amendments for the first time for their annual reporting period commencing January 1, 2025.

(i)

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

The following new accounting standards and interpretations have been published that are not mandatory for September 30, 2025 reporting periods and have not been early adopted by the Company.

(i)

Amendments to Korean IFRS 1109 Financial Instruments and Korean IFRS 1107 Financial Instruments: Disclosure

Korean IFRS 1109 Financial Instruments and Korean IFRS 1107 Financial Instruments: Disclosures have been amended to respond to recent questions arising in practice, and to include new requirements. The amendments should be applied for annual periods beginning on or after January 1, 2026, and earlier application is permitted. The key amendments are as follows. The Company is currently reviewing the impact of these amendments on its financial statements.

clarify the date of recognition and derecognition of some financial assets and liabilities, with a new exception for some financial liabilities settled through an electronic cash transfer system;

clarify and add further guidance for assessing whether a financial asset meets the solely payments of principal and interest (SPPI) criterion;

update the disclosures for equity instruments designated at fair value through other comprehensive income (FVOCI).

2. Basis of Preparation, Continued

(ii)

Annual Improvements to Korean IFRS - Volume 11

Korean IFRS 1101 First-time Adoption of International Financial Reporting Standards:
Hedge accounting by a first-time adopter

Korean IFRS 1107 Financial Instruments: Disclosures:

Gain or loss on derecognition and implementation guidance

Korean IFRS 1109 Financial Instruments:

Derecognition of lease liabilities and definition of transaction price

Korean IFRS 1110 Consolidated Financial Statements: Determination of a ‘de facto agent’

Korean IFRS 1007 Statement of Cash Flows: Cost method

(g) Income Tax Expense

The Company is within the scope of the Pillar Two model rules, and applied the exception to recognizing and disclosing information about deferred tax.

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, 2024, except for the application of Korean IFRS 1034, Interim Financial Reporting.

4. Cash and Cash Equivalents and Deposits in Banks

Details of cash and cash equivalents and deposits in banks as of September 30, 2025 and December 31, 2024 are as follows:


(In millions of won)
		September 30, 2025	December 31, 2024
Current assets
Cash and cash equivalents
Deposits	W	97,169	238,477

Non-current assets
Deposits in banks
Deposit for checking account	W	11	11

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

(a) Details of trade accounts and notes receivable and other accounts receivable as of September 30, 2025 and December 31, 2024 are as follows:


(In millions of won)
		September 30, 2025	December 31, 2024
Trade accounts and notes receivable, net	W	4,246,545	4,964,594
Other accounts receivable
Non-trade receivables, net		94,824	206,313
Accrued income, net		33,821	19,286
Subtotal		128,645	225,599
Total	W	4,375,190	5,190,193

(b) The aging of trade accounts and notes receivable and other accounts receivable as of September 30, 2025 and December 31, 2024 are as follows:


(In millions of won)		September 30, 2025
		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	4,241,839	103,999	(158)	(390)
1-15 days past due		4,864	6,501	-	-
16-30 days past due		-	345	-	(1)
31-60 days past due		-	3,547	-	(1)
More than 60 days past due		-	14,693	-	(48)
Total	W	4,246,703	129,085	(158)	(440)

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


(In millions of won)		December 31, 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	4,962,069	183,436	(362)	(283)
1-15 days past due		2,887	37,621	-	(2)
16-30 days past due		-	1,914	-	(1)
31-60 days past due		-	350	-	(3)
More than 60 days past due		-	2,575	-	(8)
Total	W	4,964,956	225,896	(362)	(297)


(In millions of won)		2025		2024
		Trade accounts and notes receivable	Other accounts receivable	Trade accounts and notes receivable	Other accounts receivable
At January 1	W	362	297	234	78
(Reversal of) bad debt expense		(204)	143	4	22
At September 30	W	158	440	238	100

6. Other Financial Assets

Details of other financial assets as of September 30, 2025 and December 31, 2024 are as follows:


(In millions of won)
		September 30, 2025	December 31, 2024
Current assets
Financial assets at fair value through profit or loss
Derivatives(*1)	W	67,671	186,676
Fair value hedging derivatives
Derivatives(*2)	W	-	99,116
Financial assets carried at amortized cost
Deposits	W	10,238	8,181
Short-term loans		14,138	26,098
Subtotal	W	24,376	34,279
Total	W	92,047	320,071

Non-current assets
Financial assets at fair value through profit or loss
Equity instruments	W	24,179	22,138
Derivatives(*1)		19,284	69,575
Subtotal	W	43,463	91,713
Fair value hedging derivatives
Derivatives(*2)	W	-	19,982
Financial assets carried at amortized cost
Deposits	W	686	783
Long-term loans		-	11,045
Subtotal	W	686	11,828
Total	W	44,149	123,523

7. Inventories

Details of inventories as of September 30, 2025 and December 31, 2024 are as follows:

(i) As of September 30, 2025


(In millions of won)
		Cost	Valuation allowance	Carrying amount
Finished goods	W	373,184	(17,448)	355,736
Work-in-process		1,132,221	(53,121)	1,079,100
Raw materials		542,417	(12,192)	530,225
Supplies		129,880	(15,073)	114,807
Total	W	2,177,702	(97,834)	2,079,868

(ii) As of December 31, 2024


(In millions of won)
		Cost	Valuation allowance	Carrying amount
Finished goods	W	377,955	(29,308)	348,647
Work-in-process		1,003,741	(79,673)	924,068
Raw materials		435,557	(16,441)	419,116
Supplies		111,539	(16,692)	94,847
Total	W	1,928,792	(142,114)	1,786,678

For the nine-month periods ended September 30, 2025 and 2024, the amount of inventories recognized as expenses and (reversal of) loss on valuation of inventory allowance are as follows:


(In millions of won)
		2025	2024
Cost of sales	W	16,502,813	17,637,351
Inventories recognized as expense		16,547,093	17,616,332
(Reversal of) write-downs of inventories included in (deducted from) cost of sales		(44,280)	21,019

8. Investments

(a)

Details of investments in subsidiaries as of September 30, 2025 and December 31, 2024, are as follows:


(In millions of won)			September 30, 2025			December 31, 2024
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.(*1)	Guangzhou, China	Production of display products	-		-	100%		-
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.(*1)	Guangzhou, China	Production and sales of display products	-		-	51%		-
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(*2)	Wilmington, U.S.A.	Investment in venture business and technologies	100%		97,727	100%		97,936
LG Display High-Tech (China) Co., Ltd.(*3)	Guangzhou, China	Production and sales of display products	70%		1,846,177	69%		1,794,547
MMT(Money Market Trust)(*4)	Seoul, South Korea	Management of trust assets	100%		137,800	100%		140,600
Total				W	3,944,789		W	3,896,168

8. Investments, Continued

(*1) For the year ended December 31, 2024, the contract was signed to sell 100% of its stake in LG Display Guangzhou Co., Ltd. and 51% of its stake in LG Display (China) Co., Ltd., and the transaction was completed on April 1, 2025.

(*2) For the nine-month period ended September 30, 2025, the Company contributed W2,481 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. The Company recognized W2,690 million of impairment loss.

(*3) For the nine-month period ended September 30, 2025, the Company acquired an additional shares of LG Display High-Tech (China) Co., Ltd. worth W51,630 million. There was 1.2% increase in the Company’s percentage of ownership in LG Display High-Tech (China) Co., Ltd. as a result of this additional acquisitions.

(*4) For the nine-month period ended September 30, 2025, the Company decreased by W2,800 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.

(b)

Details of investments in associates as of September 30, 2025 and December 31, 2024, are as follows:


(In millions of won)
			September 30, 2025			December 31, 2024
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	39,608	40%	W	39,608
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.(*)	Hwaseong, South Korea	Development, production and sales of materials for display	11%		3,698	14%		3,698
Total				W	43,306		W	43,306

(*) Due to the investee’s issuance of new shares, the Company’s percentage of ownership decreased from 14% to 11%.

Although the Company’s respective share interests in 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 classified as investments in associates.

Dividend income recognized from subsidiaries and associates for the nine-month periods ended September 30, 2025 and 2024 amounted to W95,053 million and W220,337 million, respectively.

9. Property, Plant and Equipment

(a) Changes in property, plant and equipment for the nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)		2025	2024
Book value as of January 1	W	11,913,336	13,584,247
Acquisitions		452,604	784,086
Depreciation		(1,531,896)	(1,815,033)
Disposals		(104,162)	(246,143)
Reversal (Impairment loss)(*)		1,726	(66,913)
Others		6,102	(838)
Book value as of September 30	W	10,737,710	12,239,406

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

(b) For the nine-month period ended September 30, 2025, the capitalized borrowing costs amounted to W7,819 million (For the nine-month period ended September 30, 2024: W19,624 million), and capitalization rate is 4.59% (For the nine-month period ended September 30, 2024: 4.91%).

10. Intangible Assets

Changes in intangible assets for the nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)		2025	2024
Book value as of January 1	W	1,485,789	1,683,029
Acquisitions		92,752	82,089
Acquisitions by Internal Development		454,743	473,190
Amortization		(544,813)	(582,537)
Disposals		(4,067)	(6,575)
Impairment loss(*)		(3,872)	(69,457)
Others		-	838
Book value as of September 30	W	1,480,532	1,580,577

(*) If there are indications of impairment, impairment losses are recognized for the difference between the carrying amount and the recoverable amount of intangible assets.

11. Investment Property

(a) Changes in investment property for the nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)		2025	2024
Book value as of January 1	W	27,911	32,995
Transferred to property, plant and equipment		(6,496)	-
Depreciation		(3,776)	(3,812)
Others		613	-
Book value as of September 30	W	18,252	29,183

12. Financial Liabilities

(a)

Details of financial liabilities as of September 30, 2025 and December 31,2024 are as follows:


(In millions of won)		September 30, 2025	December 31, 2024
Current
Short-term borrowings	W	2,783,580	2,454,295
Current portion of long-term borrowings		1,320,764	2,787,100
Current portion of bonds		394,837	611,882
Current portion of payment guarantee liabilities		4,658	6,092
Derivatives(*)		9,488	3,762
Lease liabilities		4,496	3,539
Total	W	4,517,823	5,866,670

Non-current
Long-term borrowings	W	4,273,222	3,762,972
Bonds		124,844	525,957
Non-current payment guarantee liabilities		5,876	9,678
Derivatives(*)		9,182	7,006
Lease liabilities		4,221	2,995
Total	W	4,417,345	4,308,608

(b)

Details of short-term borrowings as of September 30, 2025 and December 31, 2024 are as follows:


(In millions of won)
Lender	Description	Annual interest rate as of September 30, 2025 (%)		September 30, 2025	December 31, 2024
LG Display Singapore Pte. Ltd.	Working Capital	3.99	W	1,682,640	2,160,900
Standard Chartered Bank Korea Limited and others	Working Capital and others	2.60~6.17		1,100,940	293,395
Total			W	2,783,580	2,454,295

12. Financial Liabilities, Continued

(c)

Details of Korean won denominated long-term borrowings as of September 30, 2025 and December 31, 2024 are as follows :


(In millions of won)
Lender	Description	Latest maturity date	Annual interest rate as of September 30, 2025 (%)		September 30, 2025	December 31, 2024
LG Electronics Inc.	Operating capital	-	-	W	-	1,000,000
Korea Development Bank and others	Facility capital and others	January 2026~ March 2030	3.46~5.65		4,037,547	3,668,538
Less: current portion					(1,152,500)	(1,861,000)
Total				W	2,885,047	2,807,538

(d)

Details of foreign currency denominated long-term borrowings as of September 30, 2025 and December 31, 2024 are as follows :


(In millions of won and USD)
Lender	Description	Latest maturity date	Annual interest rate as of September 30, 2025 (%)		September 30, 2025	December 31, 2024
KEB Hana Bank and others	Facility capital and others	October 2025~ March 2029	5.53~6.72	W	1,556,439	1,881,534
Foreign currency equivalent of foreign currency borrowings					USD 1,110	USD 1,280
Less: current portion					(168,264)	(926,100)
Total				W	1,388,175	955,434

12. Financial Liabilities, Continued

(e)

Details of bonds issued and outstanding as of September 30, 2025 and December 31, 2024 are as follows:


(In millions of won and USD)
	Maturity	Annual interest rate as of September 30, 2025 (%)		September 30, 2025	December 31, 2024
Korean won denominated bonds at amortized cost(*1)
Publicly issued bonds	September 2026~ February 2027	2.79~3.66	W	335,000	655,000
Privately issued bonds	January 2026	7.25		45,000	337,000
Less: discount on bonds				(341)	(705)
Less: current portion				(254,815)	(611,882)
Subtotal			W	124,844	379,413
Foreign currency denominated bonds at amortized cost(*2)
Privately issued bonds	April 2026	6.21	W	140,220	147,000
Foreign currency equivalent of foreign currency denominated bonds				USD 100	USD 100
Less: discount on bonds			W	(198)	(456)
Less: foreign currency equivalent of discount on bonds of foreign currency denominated bonds				USD (0)	USD (0)
Less: current portion			W	(140,022)	-
Subtotal			W	-	146,544
Total			W	124,844	525,957

(*1) Principal of the Korean 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.

13. Post-employment Benefits

(a) Defined benefit plans

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.

i) Details of net defined benefit liabilities (defined benefit assets) recognized as of September 30, 2025 and December
31, 2024 are as follows:


(In millions of won)		September 30, 2025	December 31, 2024
		September 30, 2025	December 31, 2024
Present value of defined benefit obligations	W	1,336,945	1,436,251
Fair value of plan assets		(1,424,836)	(1,596,815)
Total	W	(87,891)	(160,564)

ii) Details of plan assets as of September 30, 2025 and December 31, 2024 are as follows:


(In millions of won)
		September 30, 2025	December 31, 2024
Time deposits in banks	W	1,424,836	1,596,815

As of September 30, 2025, the Company maintains the plan assets primarily with Shinhan Bank, KEB Hana Bank and others.

iii) Details of expenses related to defined benefit plans recognized in profit or loss for the three-month and nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)
		For the three-month periods ended September 30		For the nine-month periods ended September 30
		2025	2024	2025	2024
Current service cost	W	36,023	36,714	108,757	112,944
Net interest cost		(1,243)	(4,713)	(4,366)	(14,140)
Total(*)	W	34,780	32,001	104,391	98,804

(*) The total cost related to the defined benefit plans includes capitalized amounts of W8,094 million (for the nine-month period ended September 30, 2024: W7,665 million).

13. Post-Employment Benefits, Continued

(b) Defined contribution plans

The amount recognized as an expense in relation to the defined contribution plans in the nine-month period ended

September 30, 2025 is W23,006 million (for the nine-month period ended September 30, 2024: W13,859 million).

14. Provisions

Changes in provisions for the nine-month periods ended September 30, 2025 and 2024 are as follows:

(i) 2025


(In millions of won)
		Litigation	Warranties(*)	Others	Total
At January 1, 2025	W	7,479	151,394	5,997	164,870
Additions		3,537	34,277	8,453	46,267
Usage		(11,016)	(47,125)	(10,327)	(68,468)
At September 30, 2025	W	-	138,546	4,123	142,669
Current	W	-	83,690	4,123	87,813
Non-current	W	-	54,856	-	54,856

(*) 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.

(ii) 2024


(In millions of won)
		Litigation	Warranties(*)	Others	Total
At January 1, 2024	W	1,806	171,952	5,880	179,638
Additions (reversal)		136	49,241	(235)	49,142
Usage		-	(74,364)	-	(74,364)
At September 30, 2024	W	1,942	146,829	5,645	154,416
Current	W	1,942	88,765	5,645	96,352
Non-current	W	-	58,064	-	58,064

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. The Company continues its vigorous defense of this pending proceeding. As of September 30, 2025, 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 proceeding 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 subsidiaries, up to USD 1,000 million (W1,402,200 million). As of September 30, 2025, the amount of discounted accounts receivable under these agreements that had not yet matured was nil. In relation to the above agreements, the financial institutions have the right of recourse for accounts receivable 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 W497,781 million. As of September 30, 2025, the amount of sold accounts receivable in connection with these agreements that is outstanding is W14,245 million. In relation to the above agreements, the financial institutions do not have a right of recourse against accounts receivable that are past due.

15. Contingent Liabilities and Commitments, Continued

Loan commitment

As of September 30, 2025, the Company has entered into agreements with Hana Bank and other banks for credit lines and opening of letter of credits up to a limit of W2,603,740 million and with LG Display Singapore Pte. Ltd. for borrowing up to USD 1,200 million (W1,682,640 million).

Payment guarantees

The Company provides payment guarantee to LG Display Vietnam Haiphong Co., Ltd. for the loan principal of USD 1,000 million (W1,402,200 million).

The Company has received a payment guarantee of W1,916 million from Seoul Guarantee Insurance Co., Ltd. in relation to performance guarantees and others.

License agreements

As of September 30, 2025, the Company has a trademark license agreement with LG Corp. and pays the usage fee according to the terms of the Agreement.

15. Contingent Liabilities and Commitments, Continued

Collateral

Details of the collateral provided by the Company as of September 30, 2025 are as follows:


(In millions of won)
Collateral	Carrying amount(*)	Maximum secured amount of credit	Secured creditor	Collateral borrowings amount
Property, plant and equipment and others	221,140	780,000	Korea Development Bank and others	650,000

Commitments for asset acquisition

The amount committed to acquire property, plant, equipment and intangible assets not recognized on the financial statements as of September 30, 2025 is W394,433 million.

16. Share Capital and Share Premium

The total number of shares to be issued by the Company is 1,000,000,000 shares, the number of shares issued is 500,000,000 shares (December 31, 2024 : 500,000,000 shares), and the par value per share is W5,000. There were no changes in the Company's share capital for the nine-month period ended September 30, 2025.

The Company's share premium consists of paid-in capital in excess of par value, and there were no changes in this paid-in capital for the nine-month period ended September 30, 2025.

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 capital stock increased by W710,921 million to W2,500,000 million, and capital surplus increased by W569,893 million to W2,821,006 million in the three-month period ended March 31, 2024.

17. Revenue

Details of revenue for the three-month and nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)
		For the three-month periods ended September 30		For the nine-month periods ended September 30
		2025	2024	2025	2024
Sales of goods	W	6,802,072	6,778,535	17,462,905	18,007,702
Royalties		28,022	23,176	99,407	36,449
Others(*)		8,805	9,482	34,289	26,283
Total	W	6,838,899	6,811,193	17,596,601	18,070,434

(*) Others include rental revenue.

For the nine-month period ended September 30, 2025, the revenue recognized by satisfying performance obligation for the amount received from the customer in prior reporting periods is W1,104,441 million. (For the nine-month period ended September 30, 2024 : W393,678 million)

18. The Nature of Expenses

The classification of expenses by nature for the three-month and nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)
		For the three-month periods ended September 30		For the nine-month periods ended September 30
		2025	2024	2025	2024
Changes in inventories	W	(92,347)	(153,040)	(293,190)	(506,345)
Purchases of raw materials and others		2,678,726	2,830,109	6,982,216	7,413,543
Depreciation and amortization		677,153	738,483	2,042,822	2,353,241
Outsourcing		2,010,601	2,139,221	5,304,306	5,898,408
Labor		639,874	772,173	1,876,316	2,067,245
Supplies and others		176,432	168,867	492,567	482,465
Utility		286,505	285,374	793,799	787,520
Fees and commissions		85,355	91,084	264,671	283,385
Freight cost		13,452	15,971	38,879	46,814
Advertising		16,828	17,184	43,653	47,873
Warranty		23,115	24,937	34,277	49,241
Travel		8,008	10,627	26,976	34,462
Taxes and dues		17,144	18,918	51,416	57,086
Others		158,621	173,051	468,648	479,963
Total(*)	W	6,699,467	7,132,959	18,127,356	19,494,901

(*) Total expenses consist of cost of sales, selling, administrative, research and development expenses.

19. Selling and Administrative Expenses

Details of selling and administrative expenses for the three-month and nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)
		For the three-month periods ended September 30		For the nine-month periods ended September 30
		2025	2024	2025	2024
Salaries	W	98,213	217,320	207,924	334,751
Post-employment benefit		6,573	5,250	18,564	15,956
Other employee benefits		11,463	12,249	34,363	37,460
Freight cost		5,162	6,455	14,060	17,103
Fees and commissions		25,119	35,684	90,299	115,860
Depreciation and amortization		35,474	36,680	99,454	113,899
Taxes and dues		991	1,011	3,499	3,404
Advertising		16,828	17,184	43,653	47,873
Warranty		23,115	24,937	34,277	49,241
Insurance		2,533	2,407	7,577	7,061
Travel		1,797	1,740	5,647	6,250
Training		1,385	1,437	5,875	6,747
Others		12,926	16,818	35,223	45,037
Total	W	241,579	379,172	600,415	800,642

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

(a) Details of other non-operating income for the three-month and nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)
		For the three-month periods ended September 30		For the nine-month periods ended September 30
		2025	2024	2025	2024
Foreign currency gain	W	(80,326)	279,163	1,062,795	884,871
Gain on disposal of assets held for sale		(4,803)	-	967,102	-
Gain on disposal of property, plant and equipment		3,632	3,132	8,965	47,110
Gain on disposal of intangible assets		-	-	1,592	25
Reversal of impairment loss on property, plant and equipment		-	617	2,418	4,314
Others		5,607	25,978	42,118	27,867
Total	W	(75,890)	308,890	2,084,990	964,187

(b) Details of other non-operating expenses for the three-month and nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)
		For the three-month periods ended September 30		For the nine-month periods ended September 30
		2025	2024	2025	2024
Foreign currency loss	W	77,514	124,676	878,036	1,069,691
Impairment loss on investments		2,690	-	2,690	-
Loss on disposal of property, plant and equipment		9,640	18,852	31,508	59,114
Impairment loss on property, plant and equipment		45	-	692	71,227
Impairment loss on intangible assets		2,367	19,475	3,872	69,471
Others		1,002	1,746	8,429	5,980
Total	W	93,258	164,749	925,227	1,275,483

21. Finance Income and Finance Costs

Details of finance income and costs recognized in profit or loss for the three-month and nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)
		For the three-month periods ended September 30		For the nine-month periods ended September 30
		2025	2024	2025	2024
Finance income
Interest income	W	4,244	5,470	14,689	14,275
Dividend income		-	-	95,320	220,337
Foreign currency gain		(105,297)	93,604	238,083	111,613
Gain on transaction of derivatives		10,276	46,763	109,915	229,982
Gain on valuation of derivatives		3,989	(63,715)	4,834	1,326
Gain on valuation of financial assets at fair value through profit or loss		3,804	-	5,480	-
Others		1,519	1,697	4,595	5,483
Total	W	(81,465)	83,819	472,916	583,016

Finance costs
Interest expense	W	126,692	177,049	400,566	499,934
Foreign currency loss		23,328	(129,638)	41,307	160,354
Loss on transaction of derivatives		1,080	-	2,460	-
Loss on valuation of derivatives		(99,206)	104,164	182,032	106,246
Loss on valuation of financial assets at fair value through profit or loss		802	-	2,814	-
Others		530	2,856	3,716	8,499
Total	W	53,226	154,431	632,895	775,033

22. Earnings (Loss) Per Share

(a) Basic earnings (loss) per share for the three-month and nine-month periods ended September 30, 2025 and 2024 are as follows:


(In won and number of shares)
		For the three-month periods ended September 30		For the nine-month periods ended September 30
		2025	2024	2025	2024
Profit (loss) for the period	W	(133,194,218,325)	(366,274,182,018)	351,645,322,038	(1,775,926,413,141)
Weighted-average number of common shares outstanding		500,000,000	500,000,000	500,000,000	461,599,861
Basic earnings (loss) per share	W	(266)	(733)	703	(3,847)

Due to paid-in capital increase for the three-month periods ended March 31, 2024, the number of outstanding shares has increased.

(b) Diluted earnings (loss) per share is not different from basic earnings (loss) per share as there are no dilution effects of potential common stocks.

23. 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.

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.

Forward exchange contracts, there is no balance which were entered into to manage currency risk with respect to advances received in foreign currency. (December 31, 2024: USD 750 million)

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 September 30, 2025 and December 31, 2024 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 profit or loss before income tax would have been as follows:


(In millions of won)		September 30, 2025		December 31, 2024
USD (5 percent weakening)	W	(311,272)	W	(349,435)
JPY (5 percent weakening)		(5,097)		(6,219)

23. 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 960 million (W1,346,112 million) and interest rate swap contracts amounting to W2,305,000 million in notional amount to hedge 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 September 30, 2025 and December 31, 2024 is as follows:


(In millions of won)		September 30, 2025	December 31, 2024
		September 30, 2025	December 31, 2024
Fixed rate instruments
Financial assets	W	97,169	238,477
Financial liabilities		(2,563,693)	(4,076,162)
Total	W	(2,466,524)	(3,837,685)
Variable rate instruments
Financial liabilities	W	(6,333,554)	(6,066,044)

ii) Profit or loss before income tax sensitivity analysis for variable rate instruments


(In millions of won)
		Profit or loss before income tax
		1%p increase	1%p decrease
September 30, 2025
Variable rate instruments	W	(63,336)	63,336
December 31, 2024
Variable rate instruments	W	(60,660)	60,660

23. 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, does 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 September 30, 2025 and December 31, 2024 are as follows:


(In millions of won)
		September 30, 2025	December 31, 2024
Financial assets carried at amortized cost
Cash equivalents	W	97,169	238,477
Deposits in banks		11	11
Trade accounts and notes receivable, net		4,246,545	4,964,594
Non-trade receivables, net		94,824	206,313
Accrued income, net		33,821	19,286
Deposits		10,924	8,964
Loans		14,138	37,143
Subtotal	W	4,497,432	5,474,788
Financial assets at fair value through profit or loss
Derivatives		86,955	256,251
Financial assets effective for fair value hedging
Derivatives		-	119,098
Total	W	4,584,387	5,850,137

23. Financial Risk Management, Continued

In addition to the financial assets above, as of September 30, 2025, the Company provides payment guarantees to LG Display Vietnam Haiphong, Co., Ltd. in connection with the principal amount of credit facilities amounting to USD 1,000 million (W1,402,200 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.

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 liquidity management policy involves projecting cash flows in major currencies and considering the level of liquid assets necessary to meet these, monitoring liquidity ratios against internal and external regulatory requirements and maintaining debt financing plans.

The Company has historically been able to satisfy its cash requirements from cash flows from operations and debt and equity financing. In addition, the Company maintains a line of credit with various banks.

23. Financial Risk Management, Continued

The following are the contractual maturities of financial liabilities, including estimated interest payments, as of September 30, 2025 and December 31, 2024.

(i) As of September 30, 2025


(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	8,377,566	8,908,823	3,814,067	581,290	2,483,503	2,029,963	-
Bonds		519,681	541,104	56,204	357,615	127,285	-	-
Trade accounts and notes payable(*1)		11,000,519	11,000,519	11,000,519	-	-	-	-
Other accounts payable(*1)		1,123,583	1,124,772	1,093,616	31,156	-	-	-
Long-term other accounts payable		239,563	272,027	-	-	65,904	176,677	29,446
Payment guarantee(*2)		10,534	1,402,200	1,402,200	-	-	-	-
Security deposits received		138,225	148,422	480	1,937	4,945	141,060	-
Lease liabilities		8,717	9,527	3,592	1,157	1,916	1,756	1,106
Derivative financial liabilities
Derivatives	W	18,670	10,750	5,778	2,968	2,492	(488)	-
Cash outflow		-	505,565	173,440	20,224	164,879	147,022	-
Cash inflow		-	(494,815)	(167,662)	(17,256)	(162,387)	(147,510)	-
Total	W	21,437,058	23,418,144	17,376,456	976,123	2,686,045	2,348,968	30,552

(*1) As of September 30, 2025, it includes W1,221,599 million of payable to credit card companies for utility expenses and others paid using business credit card for purchases. The Company presented the payable to credit card companies as trade account notes payables and other accounts payable and disclosed related cash flows as operating and investing activities since the Company is using the business credit card for purchases 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.

(*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.

23. Financial Risk Management, Continued

(ii) As of December 31, 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	9,004,367	9,610,754	4,350,636	1,135,893	1,751,037	2,347,875	25,313
Bonds		1,137,839	1,185,892	631,539	11,638	416,573	126,142	-
Trade accounts and notes payable(*1)		12,011,544	12,011,544	11,740,183	271,361	-	-	-
Other accounts payable(*1)		1,438,724	1,441,594	1,112,327	329,267	-	-	-
Long-term other accounts payable		279,774	323,400	-	-	69,090	192,570	61,740
Payment guarantee(*2)		15,770	1,984,500	1,984,500	-	-	-	-
Security deposits received		160,710	189,210	-	808	6,837	181,565	-
Lease liabilities		6,534	6,968	1,944	1,831	1,797	1,233	163
Derivative financial liabilities
Derivatives	W	10,768	11,184	930	3,447	4,495	2,312	-
Cash outflow		-	75,016	21,402	20,467	22,342	10,805	-
Cash inflow		-	(63,832)	(20,472)	(17,020)	(17,847)	(8,493)	-
Total	W	24,066,030	26,765,046	19,822,059	1,754,245	2,249,829	2,851,697	87,216

(*1) As of December 31, 2024, it includes W1,187,450 million of payable to credit card companies for utility expenses and others paid using business credit card for purchases. The Company presented the payable to credit card companies as trade account notes payables and other accounts payable and disclosed related cash flows as operating and investing activities since the Company is using the business credit card for purchases 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.

(*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.

23. 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. The Company is also responsible for complying with certain financial ratios as part of capital maintenance conditions imposed externally. To fulfill this responsibility, the Company regularly monitors these financial ratios and takes proactive measures when necessary.


(In millions of won)
		September 30, 2025	December 31, 2024
Total liabilities	W	22,328,347	26,003,253
Total equity		4,185,371	3,795,798
Cash and cash equivalents		97,169	238,477
Borrowings (including bonds)		8,897,247	10,142,206
Total liabilities to equity ratio		533%	685%
Net borrowings to equity ratio(*)		210%	261%

(*) Net borrowings to equity ratio is calculated by dividing total borrowings (including bonds and excluding lease liabilities and others) less cash and cash equivalents by total equity.

(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.

23. Financial Risk Management, Continued

(ii) Fair values versus carrying amounts

The fair values of financial assets and liabilities, together with the carrying amounts as of September 30, 2025 and December 31, 2024 are as follows:


(In millions of won)		September 30, 2025		December 31, 2024
		Carrying amounts	Fair values	Carrying amounts	Fair values
Financial assets carried at amortized cost
Cash and cash equivalents	W	97,169	(*1)	238,477	(*1)
Deposits in banks		11	(*1)	11	(*1)
Trade accounts and notes receivable, net		4,246,545	(*1)	4,964,594	(*1)
Non-trade receivables, net		94,824	(*1)	206,313	(*1)
Accrued income, net		33,821	(*1)	19,286	(*1)
Deposits		10,924	(*1)	8,964	(*1)
Loans		14,138	(*1)	37,143	(*1)
Financial assets at fair value through profit or loss
Equity instruments	W	24,179	24,179	22,138	22,138
Derivatives		86,955	86,955	256,251	256,251
Financial assets effective for fair value hedging
Derivatives	W	-	-	119,098	119,098
Financial liabilities carried at amortized cost
Borrowings	W	8,377,566	8,422,292	9,004,367	9,074,818
Bonds		519,681	521,453	1,137,839	1,142,725
Trade accounts and notes payable		11,000,519	(*1)	12,011,544	(*1)
Other accounts payable		1,363,146	(*1)	1,718,498	(*1)
Payment guarantee liabilities		10,534	(*1)	15,770	(*1)
Security deposits received		138,225	(*1)	160,710	(*1)
Financial liabilities at fair value through profit or loss
Derivatives	W	18,670	18,670	10,768	10,768
Other financial liabilities
Lease liabilities	W	8,717	(*2)	6,534	(*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'.

23. Financial Risk Management, Continued

(iii) Fair values of financial assets and liabilities

i) Fair value hierarchy

▪

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

The Company measures fair value for financial reporting purposes, including fair value measurements, which are classified as "Level 3". The Company consults on the fair value assessment process and its results in accordance with the financial reporting schedule, and recognizes changes in the "level" at the end of the reporting period when there is a change in events or circumstances that cause a shift between fair value levels.

23. Financial Risk Management, Continued

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 September 30, 2025 and December 31, 2024 are as follows:


(In millions of won)			September 30, 2025			Total
Classification			Level 1	Level 2	Level 3	Total
	Financial assets at fair value through profit or loss
	Equity instruments	W	20,999	-	3,180	24,179
	Derivatives		-	86,955	-	86,955
	Financial liabilities at fair value through profit or loss
	Derivatives	W	-	18,670	-	18,670


(In millions of won)			December 31, 2024			Total
Classification			Level 1	Level 2	Level 3	Total
	Financial assets at fair value through profit or loss
	Equity instruments	W	18,958	-	3,180	22,138
	Derivatives		-	256,251	-	256,251
	Financial assets effective for fair value hedging
	Derivatives	W	-	119,098	-	119,098
	Financial liabilities at fair value through profit or loss
	Derivatives	W	-	10,768	-	10,768

23. Financial Risk Management, Continued

The valuation techniques and inputs for assets and liabilities measured at fair value those are classified as Level 2 and Level 3 within the fair value hierarchy as of September 30, 2025 and December 31, 2024 are as follows:

      (In millions of won)

      September 30, 2025

      December 31, 2024

      Valuation technique

      Input

      Classification

      Level 2

      Level 3

      Level 2

      Level 3

       
      Financial assets at fair value through profit or loss

       
      Equity instruments

      W

      -

      3,180

      -

      3,180

      Net asset value method and Comparable company analysis

      Price to book value ratio

       
      Derivatives

      86,955

      -

      256,251

      -

      Discounted cash flow

      Discount rate and Exchange rate

       
      Financial assets effective for fair value hedging

       
      Derivatives

      W

      -

      -

      119,098

      -

      Discounted cash flow

      Discount rate and Exchange rate

       
      Financial liabilities at fair value through profit or loss

       
      Derivatives

      W

      18,670

      -

      10,768

      -

      Discounted cash flow

      Discount rate and Exchange rate

23. 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 September 30, 2025 and December 31, 2024 are as follows:

      (In millions of won)

      September 30, 2025

      Valuation technique

      Input

      Classification

      Level 1

      Level 2

      Level 3

      Liabilities

       
      Borrowings

      W

      -

      -

      8,422,292

      Discounted cash flow

      Discount rate

       
      Bonds

      -

      -

      521,453

      Discounted cash flow

      Discount rate

      (In millions of won)

      December 31, 2024

      Valuation technique

      Input

      Classification

      Level 1

      Level 2

      Level 3

      Liabilities

       
      Borrowings

      W

      -

      -

      9,074,818

      Discounted cash flow

      Discount rate

       
      Bonds

      -

      -

      1,142,725

      Discounted cash flow

      Discount rate

iv) The interest rates applied for determination of the above fair value as of September 30, 2025 and December 31, 2024 are as follows:


	September 30, 2025	December 31, 2024
Borrowings, bonds and others	2.92%~3.58%	3.70%~3.96%


(In millions of won)
Classification		January 1, 2025	Valuation	September 30, 2025
Equity instruments	W	3,180	-	3,180


(In millions of won)
Classification		January 1, 2024	Valuation	September 30, 2024
Equity instruments	W	3,967	-	3,967
Convertible securities		1,838	-	1,838

24. Cash flow information

(a) Details of cash flows generated from operations for the nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)
		2025	2024
Profit (loss) for the period	W	351,645	(1,775,926)
Adjustments for:	W
Income tax expense (benefit)		117,384	(151,854)
Depreciation and amortization (Note 18)		2,042,822	2,353,241
Gain on foreign currency translation		(139,260)	(302,050)
Loss on foreign currency translation		93,350	197,642
Post-employment benefit (Note 13)		104,391	98,804
Gain on disposal of property, plant and equipment		(8,965)	(47,110)
Loss on disposal of property, plant and equipment		31,508	59,114
Impairment loss on property, plant and equipment		692	71,227
Reversal of impairment loss on property, plant and equipment		(2,418)	(4,314)
Gain on disposal of intangible assets		(1,592)	(25)
Loss on disposal of intangible assets		-	388
Impairment loss on intangible assets		3,872	69,471
Reversal of impairment loss on intangible assets		-	(14)
Expense on increase of provisions		46,267	49,241
Finance income		(526,923)	(610,158)
Finance costs		615,802	755,279
Gain on disposal of assets held for sale		(967,102)	-
Others		1,079	(14,367)
Changes in:	W
Trade accounts and notes receivable		(207,965)	(2,060,464)
Other accounts receivable		85,080	(65,472)
Inventories		(293,190)	(506,345)
Other current assets		(22,531)	(73,618)
Other non-current assets		(6,493)	(1,241)
Proceeds from settlement of derivatives		79,881	21,800
Trade accounts and notes payable		(928,166)	1,989,126
Other accounts payable		(38,890)	(779,940)
Accrued expenses		40,694	27,477
Provisions		(69,544)	(74,600)
Advances received		(87,022)	4,729
Other current liabilities		(11,446)	(7,026)
Defined benefit liabilities (assets), net		9,446	(10,101)
Other non-current liabilities		50,989	122
Cash generated from(used in) operations	W	363,395	(786,964)

24. Cash flow information, Continued

(b) Changes in liabilities arising from financing activities for the nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)
				Non-cash transactions
		January 1, 2025	Cash flows from financing activities	Gain or loss on foreign currency translation	Interest expense	Others	September 30, 2025
Short-term borrowings	W	2,454,295	436,605	(107,320)	-	-	2,783,580
Payment guarantee liabilities		15,770	4,912	-	-	(10,148)	10,534
Long-term borrowings		6,550,072	(888,244)	(70,527)	2,685	-	5,593,986
Bonds		1,137,839	(612,000)	(6,771)	613	-	519,681
Security deposits received		160,710	(40,500)	-	-	18,015	138,225
Lease liabilities		6,534	(8,575)	-	-	10,758	8,717
Total	W	10,325,220	(1,107,802)	(184,618)	3,298	18,625	9,054,723


(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	September 30, 2024
Short-term borrowings	W	1,428,213	1,367,414	(24,894)	-	-	2,770,733
Payment guarantee liabilities		20,613	5,662	-	-	(10,457)	15,818
Long-term borrowings		6,785749	(84,841)	75,018	3,208	-	6,779,134
Bonds		1,488,143	(370,000)	3,009	1,277	-	1,122,429
Security deposits received		153,316	-	-	-	3,531	156,847
Lease liabilities		14,400	(10,420)	-	-	6,083	10,063
Total	W	9,890,434	907,815	53,133	4,485	(843)	10,855,024

25. Related Parties and Others

(a) Related parties

Details of related parties as at September 30, 2025 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.

25. Related Parties and Others, Continued

(b) Details of major transactions with related parties for the nine-month periods ended September 30, 2025 and 2024 are as follows:


(In millions of won)		2025
				Purchase and others
		Sales and others	Dividend income	Purchase of raw material and others	Others(*1)
Subsidiaries
LG Display America, Inc.	W	11,125,627	-	-	3,242
LG Display Japan Co., Ltd.		619,300	-	-	46
LG Display Germany GmbH		936,748	-	-	16,252
LG Display Taiwan Co., Ltd.		1,652,901	-	-	1,675
LG Display Nanjing Co., Ltd.		66,525	-	1,063,557	5,036
LG Display Shanghai Co., Ltd.		318,058	-	-	289
LG Display Guangzhou Co., Ltd.(*2)		3,578	93,389	47,666	58,480
LG Display Shenzhen Co., Ltd.		165,666	-	-	-
LG Display Yantai Co., Ltd.		10	-	206,648	3,272
LG Display (China) Co., Ltd.(*2)		968	-	357,672	56
LG Display Singapore Pte. Ltd.		1,179,300	-	-	43,471
L&T Display Technology (Fujian) Limited		123,843	-	1	66
Nanumnuri Co., Ltd.		229	-	-	18,675
LG Display Guangzhou Trading Co., Ltd.		251,477	-	-	-
LG Display Vietnam Haiphong Co., Ltd.		48,698	-	2,417,302	42,565
Suzhou Lehui Display Co., Ltd.		49,230	-	1,930	-
LG Display High-Tech (China) Co., Ltd.		4,771	-	1,965,327	13,466

25. Related Parties and Others, Continued


(In millions of won)		2025
				Purchase and others
		Sales and others	Dividend income	Purchase of raw material and others	Others(*1)
Associates
Paju Electric Glass Co., Ltd.	W	-	1,664	188,058	8,938
Material Science Co., Ltd.		-	-	230	-
Entity that has significant influence over the Company
LG Electronics Inc.	W	200,153	-	7,748	124,372

25. Related Parties and Others, Continued


(In millions of won)		2025
				Purchase and others
		Sales and others	Dividend income	Purchase of raw material and others	Others(*1)
Subsidiaries of the entity that has significant influence over the Company
LG Electronics India Pvt. Ltd.	W	29,058	-	-	78
LG Electronics Vietnam Haiphong Co., Ltd.		163,806	-	-	1,664
LG Electronics Reynosa S.A. DE C.V.		10,526	-	-	782
LG Electronics do Brasil Ltda.		7,235	-	-	70
LG Electronics Egypt S.A.E		9,021	-	-	9
LG Innotek Co., Ltd.		6,612	-	2	56,543
P.T. LG Electronics Indonesia		11,705	-	-	599
Others		6	-	-	15,965
Total	W	16,985,051	95,053	6,256,141	415,611

(*1) Others include the amount of the acquisition of property, plant, and equipment, and the purchase amount of LG Display High-Tech (China) Co., Ltd. Shares held by LG Display Guangzhou Co., Ltd.

(*2) As of April 1, 2025, the sale of 51% of LG Display (China) Co., Ltd. and 100% of LG Display Guangzhou Co., Ltd. was completed, reflected in the transaction value in the three-month period ended March 31, 2025.

25. Related Parties and Others, Continued


(In millions of won)		2024
				Purchase and others
		Sales and others	Dividend income	Purchase of raw material and others	Others(*1)
Subsidiaries
LG Display America, Inc.	W	10,674,078	-	-	21
LG Display Japan Co., Ltd.		772,055	-	-	269
LG Display Germany GmbH		1,094,607	-	-	13,934
LG Display Taiwan Co., Ltd.		1,925,174	-	-	1,817
LG Display Nanjing Co., Ltd.		65,676	-	1,253,852	9,698
LG Display Shanghai Co., Ltd.		424,849	-	-	35
LG Display Guangzhou Co., Ltd.		26,968	-	951,004	10,510
LG Display Shenzhen Co., Ltd.		447,345	-	-	-
LG Display Yantai Co., Ltd.		-	-	245,652	964
LG Display (China) Co., Ltd.		1,941	219,667	1,002,528	2,084
LG Display Singapore Pte. Ltd.		1,075,843	-	-	53,733
L&T Display Technology (Fujian) Limited		97,367	-	-	52
Nanumnuri Co., Ltd.		204	470	-	18,387
LG Display Guangzhou Trading Co., Ltd.		294,771	-	-	-
LG Display Vietnam Haiphong Co., Ltd.		116,642	-	2,492,393	26,592
Suzhou Lehui Display Co., Ltd.		68,081	-	1,829	3
LG Display High-Tech (China) Co., Ltd.		626	-	1,879,396	2,838

25. Related Parties and Others, Continued


(In millions of won)		2024
				Purchase and others
		Sales and others	Dividend income	Purchase of raw material and others	Others(*1)
Associates
WooRee E&L Co., Ltd.(*2)	W	-	-	355	32
AVATEC Co., Ltd.(*2)		-	200	52,983	2,947
Paju Electric Glass Co., Ltd.		-	-	176,641	6,093
YAS Co., Ltd.(*2)		-	-	5,266	4,945
Material Science Co., Ltd.		-	-	-	888
Entity that has significant influence over the Company
LG Electronics Inc.	W	243,033	-	8,247	152,835

25. Related Parties and Others, Continued


(In millions of won)		2024
				Purchase and others
		Sales and others	Dividend income	Purchase of raw material and others	Others(*1)
Subsidiaries of the entity that has significant influence over the Company
LG Electronics India Pvt. Ltd.	W	46,695	-	-	208
LG Electronics Vietnam Haiphong Co., Ltd.		147,975	-	-	4,825
LG Electronics Reynosa S.A. DE C.V.		14,937	-	-	543
LG Electronics do Brasil Ltda.		13,240	-	-	217
LG Electronics RUS, LLC		-	-	-	4,005
LG Electronics Egypt S.A.E		14,232	-	-	23
LG Innotek Co., Ltd.		7,795	-	2,827	53,011
P.T. LG Electronics Indonesia		19,908	-	-	802
Others		9	-	-	12,543
Total	W	17,594,051	220,337	8,072,973	384,854

(*1) Others include the amount of the acquisition of property, plant, and equipment.

25. Related Parties and Others, Continued

(c) Details of balances of receivables and payables from transactions with related parties as of September 30, 2025 and December 31, 2024 are as follows:


(In millions of won)
		Trade accounts and notes receivable and others		Trade accounts and notes payable and others
		September 30, 2025	December 31, 2024	September 30, 2025	December 31, 2024
Subsidiaries
LG Display America, Inc.	W	2,221,038	2,360,124	174	473
LG Display Japan Co., Ltd.		210,828	195,597	18	1
LG Display Germany GmbH		409,079	521,945	11,360	12,631
LG Display Taiwan Co., Ltd.		569,401	778,589	123	181
LG Display Nanjing Co., Ltd.		27	265	3,052,569	2,572,165
LG Display Shanghai Co., Ltd.		103,692	122,650	29	29
LG Display Guangzhou Co., Ltd.		-	75	-	991,122
LG Display Guangzhou Trading Co., Ltd.		33,033	292,729	-	-
LG Display Shenzhen Co., Ltd.		16,409	88,304	-	-
LG Display Yantai Co., Ltd.		-	1	169,903	172,693
LG Display (China) Co., Ltd.		-	2,251	-	992,630
LG Display Singapore Pte. Ltd.(*1)		338,289	283,171	1,682,971	2,161,167
L&T Display Technology (Fujian) Limited		31,676	29,366	117,452	137,881
Nanumnuri Co., Ltd.		-	-	3,172	1,795
LG Display Vietnam Haiphong Co., Ltd.		12,604	19,057	1,563,546	1,686,540
Suzhou Lehui Display Co., Ltd.		2,158	6,311	-	32
LG Display High-Tech (China) Co., Ltd.		72,061	19,214	3,114,326	2,689,403


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


	2025 Q1~Q3	2024	2023
Sales Revenue	18,609	26,615	21,331
Gross Profit	2,391	2,575	345
Operating Profit (loss)	348	(561)	(2,510)
Total Assets	28,713	32,860	35,759
Total Liabilities	20,798	24,787	26,989


	2025 Q1~Q3	2024	2023
Panels for Televisions(1)(2)	10.3%	14.1%	12.5%
Panels for IT Products(1)	15.7%	19.1%	18.6%
Total(1)	12.5%	15.7%	14.6%


Period		Average Selling Price(1)(2) (in US$ / m2)
2025 Q3		1,365
2025 Q2		1,056
2025 Q1		804
2024 Q4		873
2024 Q3		825
2024 Q2		779
2024 Q1		782
2023 Q4		1,064
2023 Q3		804
2023 Q2		803
2023 Q1		850


Business area	Purchase type	Items	Usage	Cost(1)	Ratio (%)	Suppliers(2)
Display	Raw materials	PCB	Display panel manufacturing	651	9.1%	Youngpoong Electronics Co., Ltd., etc.
		Polarizers		1,155	16.1%	Dongwoo Fine-Chem Co., Ltd., etc.
		BLU		561	7.8%	Heesung Electronics LTD., etc.
		Glass		310	4.3%	Paju Electric Glass Co., Ltd., etc.
		Drive IC		526	7.3%	LX Semicon, etc.
		Others		3,977	55.4%	-
Total				7,180	100.0%


Description (unit)		2025 Q1~Q3	2024	2023
Par value (Won)		5,000	5,000	5,000
Profit (loss) for the year (million Won)(1)		582,429	(2,562,606)	(2,733,742)
Earnings (loss) per share (Won)(2)(3)		1,165	(5,438)	(7,177)
Total cash dividend amount for the period (million Won)		‑	‑	‑
Total stock dividend amount for the period (million Won)		‑	‑	‑
Cash dividend payout ratio (%)		‑	‑	‑
Cash dividend yield (%)	Common shares	‑	-	-
Cash dividend yield (%)	Preferred shares	‑	‑	‑
Stock dividend yield (%)	Common shares	‑	‑	‑
Stock dividend yield (%)	Preferred shares	‑	‑	‑
Cash dividend per share (Won)	Common shares	‑	-	-
Cash dividend per share (Won)	Preferred shares	‑	‑	‑
Stock dividend per share (share)	Common shares	‑	‑	‑
Stock dividend per share (share)	Preferred shares	‑	‑	‑


Business area	Items	Location of facilities	2025 Q1~Q3(1)	2024(1)	2023(1)
Display	Display panel, etc.	Gumi, Paju, Guangzhou	3,425	6,573	5,223


Production facilities	Available working hours in 2025 Q1~Q3	Actual working hours in 2025 Q1~Q3	Average utilization ratio
Gumi	6,552(1) (24 hours x 273 days)	6,528(1) (24 hours x 272 days)	99.6%
Paju	6,552(1) (24 hours x 273 days)	6,552(1) (24 hours x 273 days)	100.0%
Guangzhou	6,552(1) (24 hours x 273 days)	6,552(1) (24 hours x 273 days)	100.0%