Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2023 shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Registration Statement | false |
Document Transition Report | false |
Document Annual Report | true |
Document Shell Company Report | false |
Document Period End Date | Dec. 31, 2023 |
Document Fiscal Year Focus | 2023 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | LG Display Co., Ltd. |
Entity Central Index Key | 0001290109 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Entity Address, Address Line One | LG Twin Towers |
Entity Address, Address Line Two | 128 Yeoui-daero |
Entity Address, City or Town | Yeongdeungpo-gu, Seoul |
Entity Address, Postal Zip Code | 07336 |
Entity Common Stock, Shares Outstanding | 357,815,700 |
Entity Voluntary Filers | No |
Entity Interactive Data Current | Yes |
Entity Address, Country | KR |
ICFR Auditor Attestation Flag | true |
Document Financial Statement Error Correction [Flag] | false |
Document Accounting Standard | International Financial Reporting Standards |
Entity File Number | 1-32238 |
Entity Incorporation, State or Country Code | M5 |
Auditor Name | KPMG Samjong Accounting Corp. |
Auditor Firm ID | 1357 |
Auditor Location | Seoul, Korea |
Business Contact [Member] | |
Document Information [Line Items] | |
Contact Personnel Name | Jinjoo Kim |
Entity Address, Address Line One | LG Twin Towers |
Entity Address, Address Line Two | 128 Yeoui-daero |
Entity Address, City or Town | Yeongdeungpo-gu, Seoul |
Entity Address, Postal Zip Code | 07336 |
Entity Address, Country | KR |
City Area Code | 82 |
Local Phone Number | 2-3777-0748 |
Phone Fax Number Description | 82-2-3777-0797 |
ADS [Member] | |
Document Information [Line Items] | |
Trading Symbol | LPL |
Title of 12(b) Security | American Depositary Shares, each representing one-half of one share of Common Stock |
Security Exchange Name | NYSE |
Common Stock [member] | |
Document Information [Line Items] | |
Trading Symbol | LPL |
Title of 12(b) Security | Common Stock, par value W5,000 per share |
Security Exchange Name | NYSE |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - KRW (₩) ₩ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Assets | ||
Cash and cash equivalents | ₩ 2,257,522 | ₩ 1,824,649 |
Deposits in banks | 905,971 | 1,722,607 |
Trade accounts and notes receivable, net | 3,218,093 | 2,358,914 |
Other accounts receivable, net | 126,985 | 169,426 |
Other current financial assets | 168,623 | 165,355 |
Inventories | 2,527,728 | 2,872,918 |
Prepaid income taxes | 44,505 | 5,275 |
Other current assets | 253,759 | 324,891 |
Total current assets | 9,503,186 | 9,444,035 |
Deposits in banks | 11 | 11 |
Investments in equity accounted investees | 84,329 | 109,119 |
Other non-current financial assets | 173,626 | 289,098 |
Property, plant and equipment, net | 20,200,332 | 20,946,933 |
Intangible assets, net | 1,773,955 | 1,752,957 |
Investment property | 32,995 | 28,269 |
Deferred tax assets | 3,562,861 | 2,645,077 |
Defined benefit assets, net | 407,438 | 447,521 |
Other non-current assets | 20,565 | 22,999 |
Total non-current assets | 26,256,112 | 26,241,984 |
Total assets | 35,759,298 | 35,686,019 |
Liabilities | ||
Trade accounts and notes payable | 4,175,064 | 4,061,684 |
Current financial liabilities | 5,262,295 | 5,489,254 |
Other accounts payable | 2,918,903 | 3,242,929 |
Accrued expenses | 648,949 | 729,193 |
Income tax payable | 52,237 | 112,429 |
Provisions | 117,676 | 173,322 |
Advances received | 625,838 | 65,069 |
Other current liabilities | 84,066 | 87,640 |
Total current liabilities | 13,885,028 | 13,961,520 |
Non-current financial liabilities | 11,439,776 | 9,622,352 |
Non-current provisions | 63,805 | 86,157 |
Defined benefit liabilities, net | 1,559 | 1,531 |
Long-term advances received | 967,050 | |
Deferred tax liabilities | 2,069 | 4,346 |
Other non-current liabilities | 629,467 | 690,886 |
Total non-current liabilities | 13,103,726 | 10,405,272 |
Total liabilities | 26,988,754 | 24,366,792 |
Equity | ||
Share capital | 1,789,079 | 1,789,079 |
Share premium | 2,251,113 | 2,251,113 |
Retained earnings | 2,676,014 | 5,359,769 |
Reserves | 515,976 | 479,628 |
Total equity attributable to owners of the Controlling Company | 7,232,182 | 9,879,589 |
Non-controlling interests | 1,538,362 | 1,439,638 |
Total equity | 8,770,544 | 11,319,227 |
Total liabilities and equity | ₩ 35,759,298 | ₩ 35,686,019 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Statement of comprehensive income [abstract] | |||
Revenue | ₩ 21,330,819 | ₩ 26,151,781 | ₩ 29,878,043 |
Cost of sales | (20,985,643) | (25,027,703) | (24,572,939) |
Gross profit | 345,176 | 1,124,078 | 5,305,104 |
Selling expenses | (575,785) | (895,602) | (933,043) |
Administrative expenses | (899,902) | (931,117) | (919,409) |
Research and development expenses | (1,379,653) | (1,382,406) | (1,222,044) |
Other income | 1,472,258 | 3,185,837 | 1,252,135 |
Other expenses | (1,786,234) | (4,446,414) | (1,280,859) |
Finance income | 1,122,294 | 873,059 | 425,835 |
Finance costs | (1,634,534) | (966,363) | (916,614) |
Equity in income (loss) of equity accounted investees, net | (3,061) | 5,558 | 7,780 |
Profit (loss) before income tax | (3,339,441) | (3,433,370) | 1,718,885 |
Income tax expense (benefit) | (762,712) | (237,785) | 385,341 |
Profit (loss) for the year | 2,576,729 | 3,195,585 | (1,333,544) |
Other comprehensive income (loss) Items that will never be reclassified to profit or loss | |||
Remeasurements of net defined benefit liabilities | 49,817 | 122,361 | (163,363) |
Other comprehensive income (loss) from associates | 170 | 32 | (84) |
Items that will never be reclassified to profit or loss | 49,987 | 122,393 | (163,447) |
Other comprehensive income (loss), Items that are or may be reclassified to profit or loss | |||
Foreign currency translation differences for foreign operations | 23,143 | (80,963) | 869,789 |
Gain (loss) on valuation of derivative | 9,227 | (9,227) | |
Other comprehensive income (loss) from associates | (2,824) | (9,710) | 4,497 |
Items that are or may be reclassified to profit or loss | 20,319 | (81,446) | 865,059 |
Other comprehensive income for the year, net of income tax | 70,306 | 40,947 | 701,612 |
Total comprehensive income (loss) for the year | (2,506,423) | (3,154,638) | 2,035,156 |
Profit (loss) attributable to: | |||
Owners of the Controlling Company | (2,733,742) | (3,071,565) | 1,186,182 |
Non-controlling interests | 157,013 | (124,020) | 147,362 |
Profit (loss) for the year | (2,576,729) | (3,195,585) | 1,333,544 |
Total comprehensive income (loss) attributable to: | |||
Owners of the Controlling Company | (2,647,407) | (3,006,686) | 1,723,323 |
Non-controlling interests | 140,984 | (147,952) | 311,833 |
Total comprehensive income (loss) for the year | ₩ (2,506,423) | ₩ (3,154,638) | ₩ 2,035,156 |
Earnings (loss) per share (in won) | |||
Basic earnings (loss) per share | ₩ (7,640) | ₩ (8,584) | ₩ 3,315 |
Diluted earnings (loss) per share | ₩ (7,640) | ₩ (8,584) | ₩ 3,130 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - KRW (₩) ₩ in Millions | Total | Share capital [Member] | Share premium [member] | Retained earnings [member] | Reserves [Member] | Attributable to owners of the Controlling Company [Member] | Non-controlling interests [member] |
Beginning Balance at Dec. 31, 2020 | ₩ 12,731,428 | ₩ 1,789,079 | ₩ 2,251,113 | ₩ 7,518,786 | ₩ (163,446) | ₩ 11,395,532 | ₩ 1,335,896 |
Total comprehensive income (loss) for the year (Restated) | |||||||
Profit (loss) for the year | 1,333,544 | 1,186,182 | 1,186,182 | 147,362 | |||
Other comprehensive income (loss) (Restated) | |||||||
Other comprehensive income (loss) | 701,612 | (163,447) | 700,588 | 537,141 | 164,471 | ||
Total comprehensive income (loss) for the year | 2,035,156 | 1,022,735 | 700,588 | 1,723,323 | 311,833 | ||
Subsidiaries' dividends distributed to non-controlling interests | (4,083) | (4,083) | |||||
Ending Balance at Dec. 31, 2021 | 14,762,501 | 1,789,079 | 2,251,113 | 8,541,521 | 537,142 | 13,118,855 | 1,643,646 |
Total comprehensive income (loss) for the year (Restated) | |||||||
Profit (loss) for the year | (3,195,585) | (3,071,565) | (3,071,565) | (124,020) | |||
Other comprehensive income (loss) (Restated) | |||||||
Other comprehensive income (loss) | 40,947 | 122,393 | (57,514) | 64,879 | (23,932) | ||
Total comprehensive income (loss) for the year | (3,154,638) | (2,949,172) | (57,514) | (3,006,686) | (147,952) | ||
Subsidiaries' dividends distributed to non-controlling interests | (56,056) | (56,056) | |||||
Dividends to equity holders | (232,580) | (232,580) | (232,580) | ||||
Ending Balance at Dec. 31, 2022 | 11,319,227 | 1,789,079 | 2,251,113 | 5,359,769 | 479,628 | 9,879,589 | 1,439,638 |
Total comprehensive income (loss) for the year (Restated) | |||||||
Profit (loss) for the year | (2,576,729) | (2,733,742) | (2,733,742) | 157,013 | |||
Other comprehensive income (loss) (Restated) | |||||||
Other comprehensive income (loss) | 70,306 | 49,987 | 36,348 | 86,335 | (16,029) | ||
Total comprehensive income (loss) for the year | (2,506,423) | (2,683,755) | 36,348 | (2,647,407) | 140,984 | ||
Subsidiaries' dividends distributed to non-controlling interests | (42,260) | (42,260) | |||||
Ending Balance at Dec. 31, 2023 | ₩ 8,770,544 | ₩ 1,789,079 | ₩ 2,251,113 | ₩ 2,676,014 | ₩ 515,976 | ₩ 7,232,182 | ₩ 1,538,362 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Cash flows from operating activities: | |||
Profit (loss) for the year | ₩ (2,576,729) | ₩ (3,195,585) | ₩ 1,333,544 |
Adjustments for: | |||
Income tax expense (benefit) | (762,712) | (237,785) | 385,341 |
Depreciation and amortization | 4,213,742 | 4,557,457 | 4,500,701 |
Gain on foreign currency translation | (313,378) | (702,144) | (74,125) |
Loss on foreign currency translation | 241,701 | 449,980 | 193,095 |
Expenses related to defined benefit plans | 149,937 | 168,260 | 144,241 |
Gain on disposal of property, plant and equipment | (34,961) | (25,737) | (19,367) |
Loss on disposal of property, plant and equipment | 102,453 | 54,432 | 64,350 |
Impairment loss on property, plant and equipment | 60,072 | 1,260,436 | 19,085 |
Reversal of impairment loss on property, plant and equipment | (7) | (3,181) | (1,121) |
Gain on disposal of intangible assets | (1,989) | (196) | |
Loss on disposal of intangible assets | 55 | 193 | |
Impairment loss on intangible assets | 54,833 | 136,372 | 29,488 |
Reversal of impairment loss on intangible assets | (242) | (1,975) | (1,152) |
Impairment loss on investment property | 7,736 | ||
Expense on increase of provisions | 101,846 | 253,075 | 216,873 |
Finance income | (594,944) | (607,501) | (352,423) |
Finance costs | 1,162,598 | 781,205 | 832,596 |
Equity in income of equity method accounted investees, net | 3,061 | (5,558) | (7,780) |
Other income | (7,030) | (1,681) | |
Other expenses | 15,538 | ||
Adjustments for reconcile of profit and loss | 1,798,306 | 2,887,999 | 7,278,688 |
Trade accounts and notes receivable | (1,013,938) | 1,833,491 | (964,130) |
Other accounts receivable | 32,173 | (55,073) | 20,395 |
Inventories | 336,993 | 390,672 | (1,123,239) |
Lease receivables | 7,204 | 7,684 | 4,765 |
Other current assets | 92,983 | 435,838 | 107,679 |
Other non-current assets | 1,151 | (10,125) | (58,821) |
Trade accounts and notes payable | 323,548 | (282,082) | 1,037,950 |
Other accounts payable | (47,798) | (625,606) | 72,640 |
Accrued expenses | (47,088) | (514,500) | 580,404 |
Provisions | (179,969) | (259,969) | (237,601) |
Advances received | (19,461) | (1,977) | (268,074) |
Other current liabilities | (33,367) | (4,188) | 9,100 |
Defined benefit liabilities, net | (45,123) | (381,405) | (208,199) |
Long-term advances received | 1,580,222 | ||
Other non-current liabilities | 33,493 | 167,868 | 11,144 |
Cash generated from operating activities | 2,819,329 | 3,588,627 | 6,262,701 |
Income taxes paid | (290,102) | (153,969) | (118,305) |
Interests received | 144,402 | 77,219 | 79,188 |
Interests paid | (990,881) | (500,857) | (470,138) |
Net cash provided by operating activities | 1,682,748 | 3,011,020 | 5,753,446 |
Cash flows from investing activities: | |||
Dividends received | 15,200 | 4,461 | 4,068 |
Increase in deposits in banks | (943,166) | (1,769,668) | (694,313) |
Proceeds from withdrawal of deposits in banks | 1,785,231 | 756,267 | 77,152 |
Acquisition of financial assets at fair value through profit or loss | (4,615) | (27,100) | (34,418) |
Proceeds from disposal of financial assets at fair value through profit or loss | 546 | 412 | 5,226 |
Acquisition of financial assets at fair value through other comprehensive income | (3,000) | (3,934) | |
Proceeds from disposal of financial assets at fair value through other comprehensive income | 2,671 | 3,547 | 24 |
Proceeds from disposal of investments in equity accounted investees | 4,800 | 4,363 | |
Acquisition of property, plant and equipment | (3,482,754) | (5,079,279) | (3,141,430) |
Proceeds from disposal of property, plant and equipment | 485,659 | 171,421 | 65,711 |
Acquisition of intangible assets | (672,076) | (830,583) | (635,805) |
Proceeds from disposal of intangible assets | 6,328 | 11,392 | 2,946 |
Asset-related government grants received | 7,417 | 57,503 | 85,983 |
Proceeds from settlement of derivatives, net | 178,610 | 49,145 | 8,344 |
Increase in short-term loans | (9,643) | ||
Proceeds from collection of short-term loans | 27,411 | 9,608 | 14,533 |
Increase in long-term loans | (54,033) | (26,473) | |
Increase in deposits | (3,992) | (2,676) | (7,145) |
Decrease in deposits | 4,535 | 6,727 | 8,154 |
Proceeds from disposal of other assets | 6,659 | 1,464 | |
Net cash used in investing activities | (2,589,336) | (6,700,169) | (4,263,080) |
Cash flows from financing activities: | |||
Proceeds from short-term borrowings | 6,729,725 | 4,487,824 | 2,573,757 |
Repayments of short-term borrowings | (7,446,111) | (2,565,541) | (2,425,117) |
Proceeds from issuance of bonds | 469,266 | 443,230 | 498,027 |
Proceeds from long-term borrowings | 4,765,524 | 4,165,508 | 1,298,346 |
Repayments of current portion of long-term borrowings and bonds | (3,059,960) | (4,209,915) | (4,344,208) |
Repayment of lease liabilities | (73,483) | (82,296) | (66,941) |
Dividends paid | (232,580) | ||
Subsidiaries' dividends distributed to non-controlling interests | (34,098) | (60,206) | |
Net cash provided by (used in) financing activities | 1,350,863 | 1,946,024 | (2,466,136) |
Net increase (decrease) in cash and cash equivalents | 444,275 | (1,743,125) | (975,770) |
Beginning Balance | 1,824,649 | 3,541,597 | 4,218,099 |
Effect of exchange rate fluctuations on cash held | (11,402) | 26,177 | 299,268 |
Ending Balance | ₩ 2,257,522 | ₩ 1,824,649 | ₩ 3,541,597 |
Reporting Entity
Reporting Entity | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Reporting Entity | 1. Reporting Entity (a) Description of the Controlling Company LG Display Co., Ltd. (the "Controlling Company") was incorporated in February 1985 and the Controlling Company is a public corporation listed in the Korea Exchange since 2004. The main business of the Controlling Company and its subsidiaries (the “Group”) is to manufacture and sell displays and its related products. As of December 31, 2023, the Group is operating Thin Film Transistor Liquid Crystal Display (“TFT-LCD”) and Organic Light Emitting Diode (“OLED”) panel manufacturing plants in Gumi, Paju and China and TFT-LCD and OLED module manufacturing plants in Gumi, Paju, China and Vietnam. The Controlling Company is domiciled in the Republic of Korea with its address at 128 Yeouidae-ro, Yeongdeungpo-gu, Seoul, the Republic of Korea. As of December 31, 2023, LG Electronics Inc., a major shareholder of the Controlling Company, owns 37.9 % ( 135,625,000 shares) of the Controlling Company’s common stock. The Controlling Company’s common stock is listed on the Korea Exchange under the identifying code 034220. As of December 31, 2023, there are 357,815,700 shares of common stock outstanding. The Controlling Company’s common stock is also listed on the New York Stock Exchange in the form of American Depository Shares (“ADSs”) under the symbol “LPL”. One ADS represents one-half of one share of common stock. As of December 31, 2023, there are 18,672,956 ADSs outstanding. 1. Reporting Entity, Continued (b) Consolidated Subsidiaries as of Decembe r 31, 2023 Subsidiaries Location Percentage Fiscal Date of Business Capital stocks LG Display America, Inc. San Jose, 100 % December 31 September 24, 1999 Sell display products USD 411 LG Display Germany GmbH Eschborn, Germany 100 % December 31 October 15, 1999 Sell display products EUR 1 LG Display Japan Co., Ltd. Tokyo, Japan 100 % December 31 October 12, 1999 Sell display products JPY 95 LG Display Taiwan Co., Ltd. Taipei, Taiwan 100 % December 31 April 12,1999 Sell display products TWD 116 LG Display Nanjing Co., Ltd. Nanjing, China 100 % December 31 July 15, 2002 Manufacture display products CNY 3,020 LG Display Shanghai Co., Ltd. Shanghai, China 100 % December 31 January 16, 2003 Sell display products CNY 4 LG Display Guangzhou Guangzhou, China 100 % December 31 June 30, 2006 Manufacture display products CNY 1,655 LG Display Shenzhen Co., Ltd. Shenzhen, China 100 % December 31 July 27, 2007 Sell display products CNY 4 LG Display Singapore Pte. Ltd. Singapore 100 % December 31 November 4, 2008 Sell display products USD 1 L&T Display Technology Fujian, 51 % December 31 December 7, 2009 Manufacture and sell LCD module and LCD monitor sets CNY 116 LG Display Yantai Co., Ltd. Yantai, 100 % December 31 March 17, 2010 Manufacture display products CNY 1,008 Nanumnuri Co., Ltd. Gumi, 100 % December 31 March 21, 2012 Provide janitorial services KRW 800 LG Display (China) Co., Ltd. Guangzhou, China 70 % December 31 December 10, 2012 Manufacture and sell display products CNY 8,232 Unified Innovative Wilmington, U.S.A. 100 % December 31 March 12, 2014 Manage intellectual property USD 9 LG Display Guangzhou Guangzhou, China 100 % December 31 April 28, 2015 Sell display products CNY 1 Global OLED Technology, Sterling, U.S.A. 100 % December 31 December 18, 2009 Manage OLED intellectual property USD 138 LG Display Vietnam Haiphong Haiphong, 100 % December 31 May 5, 2016 Manufacture and sell display products USD 600 Suzhou Lehui Display Suzhou, China 100 % December 31 July 1, 2016 Manufacture and sell LCD module and LCD monitor sets CNY 637 LG DISPLAY FUND I LLC(*) Wilmington, U.S.A. 100 % December 31 May 1, 2018 Invest in venture business and acquire technologies USD 75 LG Display High-Tech (China) Guangzhou, China 70 % December 31 July 11, 2018 Manufacture and sell display products CNY 15,600 (*) For the year ended December 31, 2023, the Controlling Company contributed W 5,839 million in cash for the capital increase of LG DISPLAY FUND I LLC. There was no change in the Controlling 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 Controlling Company has invested W 92,900 million in MMT (Money Market Trust), which is controlled by the Controlling Company. 1. Reporting Entity, Continued (c) Information of subsidiaries (before elimination of intercompany transactions) which have significant non-controlling interests as of and for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 LG Display (China) Co., Ltd. LG Display High-Tech Percentage of ownership in non-controlling interest(%) 30 30 Current assets ₩ 1,987,880 1,551,346 Non-current assets 663,181 5,252,614 Current liabilities 324,075 1,261,412 Non-current liabilities 31,466 2,452,327 Net assets 2,295,520 3,090,221 Book value of non-controlling interests 680,757 925,848 Revenue ₩ 2,175,878 2,817,308 Profit for the year 380,788 125,446 Profit attributable to non-controlling interests 114,301 37,803 Cash flows from operating activities ₩ 890,435 709,243 Cash flows from investing activities ( 619,615 ) ( 315,176 ) Cash flows from financing activities ( 439,390 ) ( 665,170 ) Effect of exchange rate fluctuations on cash held 23,538 19,972 Net decrease in cash and cash equivalents ( 145,032 ) ( 251,131 ) Cash and cash equivalents at January 1 276,802 290,461 Cash and cash equivalents at December 31 131,770 39,330 Dividends distributed to non-controlling interests ₩ — — (In millions of won) 2022 LG Display (China) Co., Ltd. LG Display High-Tech Percentage of ownership in non-controlling interest(%) 30 30 Current assets ₩ 1,916,867 2,112,295 Non-current assets 575,020 3,546,253 Current liabilities 336,575 820,041 Non-current liabilities 1,419 2,323,249 Net assets 2,153,893 2,515,258 Book value of non-controlling interests 646,199 753,191 Revenue ₩ 1,921,939 2,766,043 Profit(Loss) for the year 133,486 ( 561,016 ) Profit(Loss) attributable to non-controlling interests 39,981 ( 168,474 ) Cash flows from operating activities ₩ 486,103 153,043 Cash flows from investing activities ( 371,454 ) 424,405 Cash flows from financing activities ( 223,222 ) ( 455,746 ) Effect of exchange rate fluctuations on cash held 2,347 ( 7,471 ) Net increase (decrease) in cash and cash equivalents ( 106,226 ) 114,231 Cash and cash equivalents at January 1 131,770 39,330 Cash and cash equivalents at December 31 25,544 153,561 Dividends distributed to non-controlling interests ₩ 56,056 — 1. Reporting Entity, Continued (In millions of won) 2023 LG Display (China) Co., Ltd. LG Display High-Tech Percentage of ownership in non-controlling interest(%) 30 30 Current assets ₩ 1,908,790 3,796,310 Non-current assets 501,340 2,621,361 Current liabilities 275,264 978,596 Non-current liabilities 560 2,586,633 Net assets 2,134,306 2,852,442 Book value of non-controlling interests 640,322 854,346 Revenue ₩ 1,145,472 2,432,838 Profit for the year 108,801 374,836 Profit attributable to non-controlling interests 32,640 112,451 Cash flows from operating activities ₩ 426,643 777,354 Cash flows from investing activities ( 225,456 ) ( 979,167 ) Cash flows from financing activities ( 153,664 ) 365,898 Effect of exchange rate fluctuations on cash held ( 972 ) ( 3,571 ) Net increase in cash and cash equivalents 46,551 160,514 Cash and cash equivalents at January 1 25,544 153,561 Cash and cash equivalents at December 31 72,095 314,075 Dividends distributed to non-controlling interests ₩ 34,098 - |
Basis of Presenting Financial S
Basis of Presenting Financial Statements | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Basis of Presenting Financial Statements | 2. Basis of Presenting Financial Statements (a) Statement of Compliance These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRSs”) as issued by the International Accounting Standards Board. The consolidated financial statements were authorized for issuance by the Group’s management on April 19, 2024. (b) Basis of Measurement The consolidated financial statements have been prepared on the historical cost basis except for the following material items in the consolidated statement of financial position: ▪ derivative financial instruments at fair value, financial assets at fair value through profit or loss (“FVTPL”), financial assets at fair value through other comprehensive income (“FVOCI”), financial liabilities at fair value through profit or loss (“FVTPL”), and ▪ net defined benefit liabilities (defined benefit assets) recognized at the present value of defined benefit obligations less the fair value of plan assets (c) Functional and Presentation Currency Each subsidiary’s financial statements within the Group are presented in the subsidiary’s functional currency, which is the currency of the primary economic environment in which each subsidiary operates. The consolidated financial statements are presented in Korean won, which is the Controlling Company’s functional currency. (d) Use of Estimates and Judgments The preparation of the consolidated financial statements in conformity with IFRSs requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. Information about judgments made applying accounting policies that have the most significant effects on the amounts recognized in the consolidated financial statements is included in the following notes: ▪ Financial instruments (Note 3(f)) ▪ Intangible assets (Impairment assessment of non-financial assets, including determination of cash generating unit) (Note 3(l), 10) ▪ Deferred tax assets and liabilities (recognition of deferred tax assets) (Note 3(t), 24) Information about assumptions and estimation uncertainties that have a significant risk of resulting in a material adjustment to the carrying amounts of assets and liabilities within the next 12 months is included in the following notes: ▪ Provisions (Note 3(n), 14) ▪ Inventories (Note 3(e), 7) ▪ Intangible assets (Impairment assessment of non-financial assets) (Note 10) ▪ Employee benefits (Note 13) ▪ Deferred tax assets and liabilities (estimation of future taxable income) (Note 3(t), 24) |
Material Accounting Policies
Material Accounting Policies | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Material Accounting Policies | 3. Material Accounting Policies The Group has consistently applied the following accounting policies to all periods presented in these consolidated financial statements, except if mentioned otherwise. (a) Changes in Material Accounting Policies (i) Global Minimum Tax The Group has applied the International Tax Reform – Pillar Two Model Rules (Amendments to IAS 12 ‘Income taxes’) published in December 2023. The amendments provide a temporary mandatory exception from deferred tax accounting for the global minimum tax, and require new disclosure about the Pillar Two exposure. (See Note 23) (ii) Material accounting policy information The Group adopted Disclosure of Accounting Policies (Amendments to IAS 1 ‘Presentation of Financial Statements’) from January 1, 2023. Although the amendments did not result in any changes to the accounting polices themselves, they impacted the accounting policy information disclosed in the financial statements. The amendments require disclosure of ‘material’ rather than ‘significant’, accounting policies. The amendments also provide guidance on the application of materiality to disclosure of accounting policies, assisting entities to provide useful, entity-specific accounting policy information that users need to understand other information in the financial statements. The Group has reviewed the accounting policies and has updated the information disclosed in Note 3 (2022 and 2021: Summary of Significant Accounting Policies) accordingly. (b) Consolidation (i) Subsidiaries Subsidiaries are entities controlled by the Group. The Group controls an entity when it is exposed, or has right to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of subsidiaries are included in the consolidated financial statements from the date on which control commences until the date on which control ceases. (ii) Non-controlling interests Non-controlling interests (“NCI”) are measured at their proportionate share of the acquiree’s identifiable net assets at the acquisition date. Profit or loss and other comprehensive income (loss) of subsidiaries are attributed to owners of the Controlling Company and non-controlling interests. Changes in the Group’s interest in subsidiaries that do not result in a loss of control are accounted for as equity transactions. 3. Material Accounting Policies, Continued (b) Consolidation, Continued (iii) Loss of Control If the Controlling Company loses control of subsidiaries, the Controlling Company derecognizes the assets and liabilities of the former subsidiaries from the consolidated statement of financial position and recognizes the gain or loss associated with the loss of control attributable to the former controlling interest. Meanwhile, the Controlling Company recognizes any investment retained in the former subsidiaries at its fair value when control is lost. (iv) Associates and joint ventures (equity method investees) Associates are those entities in which the Group has significant influence, but not control or joint control, over the financial and operating policies. A joint venture is an arrangement in which the parties have joint control, whereby the parties have rights to the net assets of the arrangement, rather than rights to its assets and obligations for its liabilities. Investments in associates and joint ventures are initially recognized at cost and subsequently accounted for using the equity method of accounting. The carrying amount of investments in associates and joint ventures is increased or decreased to recognize the Group's share of the profits or losses and changes in the Group's proportionate interest of the investee after the date of acquisition. Distributions received from an investee reduce the carrying amount of the investment. If an associate or a joint venture uses accounting policies different from those of the Controlling Company for like transactions and events in similar circumstances, appropriate adjustments are made to the consolidated financial statements. As of and during the periods presented in the consolidated financial statements, no adjustments were made in applying the equity method. When the Group’s share of losses exceeds its interest in an equity accounted investee, the carrying amount of that interest, including any long-term investments, is reduced to nil, and the recognition of further losses is discontinued except to the extent that the Group has an obligation or has made payments on behalf of the investee. (v) Transactions eliminated on consolidation Intra-group balances and transactions, including income and expenses and any unrealized income and expenses and balance of trade accounts and notes receivable and payable arising from intra-group transactions, are eliminated. Unrealized gains arising from transactions with equity accounted investees are eliminated against the investment to the extent of the Group’s interest in the investee. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is no evidence of impairment. 3. Material Accounting Policies, Continued (c) Foreign Currency Transaction and Translation Transactions in foreign currencies are translated to the respective functional currencies of the Group entities at exchange rates at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are retranslated to the functional currency at the exchange rate on the reporting date. Non-monetary assets and liabilities denominated in foreign currencies that are measured at fair value are retranslated to the functional currency at the exchange rate at the date that the fair value was originally determined. Foreign currency differences arising on retranslation are recognized in profit or loss, except for differences arising on an investment in equity instruments designated as at FVOCI and a financial asset and liability designated as a cash flow hedge, which are recognized in other comprehensive income. Exchange differences arising on the settlement of monetary items or on translating monetary items at rates different from those at which they were translated on initial recognition are recognized in profit or loss in the period in which they arise. Foreign currency differences arising from assets and liabilities in relation to the investing and financing activities including borrowings, bonds and cash and cash equivalents are recognized in finance income (costs) in the consolidated statement of comprehensive income (loss) and foreign currency differences arising from assets and liabilities in relation to activities other than investing and financing activities are recognized in other income (expenses) in the consolidated statement of comprehensive income (loss). Foreign currency differences are presented in gross amounts in the consolidated statement of comprehensive income (loss). If the presentation currency of the Group is different from a foreign operation’s functional currency, the financial position and financial performance of the foreign operation are translated into the presentation currency using the following methods. The assets and liabilities of foreign operations, whose functional currency is not the currency of a hyperinflationary economy are translated to the Group’s functional currency at exchange rates at the reporting date. The income and expenses of foreign operations are translated to the Group’s functional currency at exchange rates at the dates of the transactions and foreign currency differences are recognized in other comprehensive income (loss). Relevant proportionate shares of foreign currency differences are allocated to the controlling interests and non-controlling interests. When a foreign operation is disposed of in its entirety or partially such that control, significant influence or joint control is lost, the cumulative amount in the translation reserve related to that foreign operation is reclassified to profit or loss as part of the gain or loss on disposal. If the Group disposes part of its interest in a subsidiary but retains control, then the relevant proportion of the cumulative amount is reattributed to NCI. When the Group disposes of only part of an associate or joint venture while retaining significant influence or joint control, the relevant proportion of the cumulative amount is reclassified to profit or loss. Any goodwill arising on the acquisition of a foreign operation and any fair value adjustments to the carrying amounts of assets and liabilities arising on the acquisition of that foreign operation is treated as assets and liabilities of the foreign operation. Thus, they are expressed in the functional currency of the foreign operation and translated at the at each reporting date’s exchange rate. 3. Material Accounting Policies, Continued (d) Cash and cash equivalents Cash and cash equivalents include all cash balances and short-term highly liquid investments with an original maturity of three months or less that are readily convertible into known amounts of cash. (e) Inventories Inventories are measured at the lower of cost and net realizable value. The cost of inventories is based on the weighted-average method, and includes expenditures incurred in acquiring the inventories, production or conversion costs and other costs incurred in bringing them to their existing location and condition. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated selling expenses. In the case of manufactured inventories and work-in-process, cost includes an appropriate share of production overheads based on the actual capacity of production facilities. However, the normal capacity is used for the allocation of fixed production overheads if the actual level of production is lower than the normal capacity. The Group make adjustments to reduce the cost of inventory to its net realizable value, for estimated excess, obsolescence or impaired balances. Factors influencing these adjustments include changes in demand, technological changes, product life cycle, component cost trends, product pricing. Revisions to these adjustments would be required if these factors differ from the Group’s estimates. (f) Financial Instruments (i) Non-derivative financial assets Recognition and initial measurement Trade receivables and debt instruments issued are initially recognized when they are originated. All other financial assets are recognized in statement of financial position when, and only when, the Group becomes a party to the contractual provisions of the instrument. A financial asset (unless it is a trade receivable without a significant financing component) is initially measured at fair value plus, for an item not at FVTPL, transaction costs that are directly attributable to its acquisition or issue. A trade receivable without a significant financing component is initially measured at the transaction price. Classification and subsequent measurement i) Financial assets On initial recognition, a financial asset is classified as measured at: amortized cost; FVOCI – debt investment; FVOCI – equity investments; or FVTPL. Financial assets are not reclassified subsequent to their initial recognition unless the Group changes its business model for managing financial assets, in which case all affected financial assets are reclassified on the first day of the subsequent reporting period following the change in the business model. A financial asset is measured as at amortized cost if it meets both of the following conditions and is not designated as at FVTPL: - it is held within a business model whose objective is to hold assets to collect contractual cash flows; and - its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. 3. Material Accounting Policies, Continued (f) Financial Instruments, Continued (i) Non-derivative financial assets, Continued A debt investment is measured at FVOCI if it meets both of the following conditions and is not designated as at FVTPL: - it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and - the contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. On initial recognition of an equity investments that is not held for trading, the Group may irrevocably elect to present subsequent changes in the investment’s fair value in OCI. This election is made on an investment-by-investment basis. All financial assets not classified as measured at amortized cost or FVOCI as described above are measured as at FVTPL. This includes all derivative financial assets. At initial recognition, the Group may irrevocably designate a financial asset that otherwise meets the requirements to be measured at amortized cost or at FVOCI as at FVTPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise. ii) Financial assets: business model The Group makes an assessment of the objective of the business model in which a financial asset is held at a portfolio level because this best reflects the way the business is managed and information is provided to management. The information considered includes: - the stated policies and objectives for the portfolio and the operation of those policies in practice (these include whether management’s strategy focuses on earning contractual interest income, maintaining a particular interest rate profile, matching the duration of the financial assets to the duration of any related liabilities or expected cash outflows or realizing cash flows through the sale of the assets); - how the performance of the portfolio is evaluated and reported to the Group’s management; - the risks that affect the performance of the business model (and the financial assets held within that business model) and how those risks are managed; and - the frequency, volume and timing of sales of financial assets in prior periods, the reasons for such sales and expectations about future sales activity. Transfers of financial assets to third parties in transaction that do not qualify for derecognition are not considered sale for this purpose. A financial asset that is held for trading or is managed and whose performance is evaluated on a fair value basis is measured at FVTPL. iii) Financial assets: Assessment whether contractual cash flows are solely payments of principal and interest For the purpose of the assessment, “principal” is defined as the fair value of the financial asset on initial recognition. ‘Interest’ is defined as consideration for the time value of money and for the credit risk associated with the principal amount outstanding during a particular period of time and for other basic lending risks and cost (e.g. liquidity risk and administrative costs), as well as profit margin. 3. Material Accounting Policies, Continued (f) Financial Instruments, Continued (i) Non-derivative financial assets, Continued In assessing whether the contractual cash flows are solely payments of principal and interest, the Group considers the contractual terms of the instrument. This includes assessing whether the financial asset contains a contractual term that could change the timing or amount of contractual cash flows such that it would not meet this condition. In making this assessment, the Group considers: - contingent events that would change the amount or timing of cash flows: - terms that may adjust the contractual coupon rate, including variable-rate features; - prepayment and extension features; and - terms that limit the Group’s claim to cash flows from specified assets (e.g. non-recourse features) A prepayment feature is consistent with the solely payments of principal and interest criterion if the prepayment amount substantially represents unpaid amounts of principal and interest or the principal amount outstanding, which may include reasonable additional compensation for early termination of the contract. Additionally, for a financial asset acquired at a discount or premium to its contractual par amount, a feature that permits or requires prepayment at an amount that substantially represents the contractual par amount plus accrued but unpaid contractual interest (which may also include reasonable additional compensation for early termination) is treated as consistent with this criterion if the fair value of the prepayment feature is insignificant at initial recognition. iv) Financial assets: Subsequent measurement and gains and losses Financial assets at FVTPL These assets are subsequently measured at fair value. Net gains and losses, including any interest or dividend income, are recognized in profit or loss. Financial assets at amortized cost These assets are subsequently measured at amortized cost using the effective interest method. The amortized cost is reduced by impairment losses. Interest income, foreign exchange gains and losses and impairment are recognized in profit or loss. Any gain or loss on derecognition is recognized in profit or loss. Debt investments at FVOCI These assets are subsequently measured at fair value. Interest income calculated using the effective interest method, foreign exchange gains and losses and impairment are recognized in profit or loss. Other net gains and losses are recognized in OCI. On derecognition, gains and losses accumulated in OCI are reclassified to profit or loss. Derecognition The Group derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, it transfers the rights to receive the contractual cash flows of the financial asset in a transaction in which substantially all the risks and rewards of ownership of the financial asset are transferred, or it transfers or does not retain substantially all the risks and rewards of ownership of a transferred asset, and does not retain control of the transferred asset. If the Group has retained substantially all the risks and rewards of ownership of the transferred asset, the Group continues to recognize the transferred asset. 3. Material Accounting Policies, Continued (f) Financial Instruments, Continued (ii) Non-derivative financial liabilities The Group classifies financial liabilities into two categories, financial liabilities at FVTPL and other financial liabilities in accordance with the substance of the contractual arrangement and the definitions of financial liabilities, and recognizes them in the consolidated statement of financial position when the Group becomes a party to the contractual provisions of the instrument. Financial liabilities at FVTPL include financial liabilities held for trading or designated as such upon initial recognition at FVTPL. After initial recognition, financial liabilities at FVTPL are measured at fair value, and changes therein are recognized in profit or loss. Upon initial recognition, transaction costs that are directly attributable to the issuance of financial liabilities are recognized in profit or loss as incurred. Non-derivative financial liabilities other than financial liabilities classified as at FVTPL are classified as other financial liabilities and measured initially at fair value minus transaction costs that are directly attributable to the issuance of financial liabilities. Subsequent to initial recognition, these financial liabilities are measured at amortized cost using the effective interest method. As of December 31, 2023, non-derivative financial liabilities comprise borrowings, bonds, trade accounts and notes payable, other accounts payable and others. The Group derecognizes a financial liability when its contractual obligations are discharged, cancelled or expired. (iii) Share Capital The Group issued common stocks and they are classified as equity. Incremental costs directly attributable to the issuance of common stocks are recognized as a deduction from equity, net of tax effects. Capital contributed in excess of par value upon issuance of common stocks is classified as share premium within equity. (iv) Derivative financial instruments Derivatives are initially recognized at fair value. Subsequent to initial recognition, derivatives are measured at fair value, and changes therein are accounted for as described below. 3. Material Accounting Policies, Continued (f) Financial Instruments, Continued (iv) Derivative financial instruments, Continued Hedge Accounting If necessary, the Group designates derivatives as hedging items to hedge the risk of changes in the fair value of assets, liabilities or firm commitments (a fair value hedge) and foreign currency risk of highly probable forecasted transactions or firm commitments (a cash flow hedge). On initial designation of the hedge, the Group’s management formally designates and documents the relationship between the hedging instrument(s) and hedged item(s), including the risk management objectives and strategy in undertaking the hedge transaction, together with the methods that will be used to assess the effectiveness of the hedging relationship, both at the inception of the hedge relationship as well as on an ongoing basis. i) Fair value hedges Change in the fair value of a derivative hedging instrument designated as a fair value hedge and the hedged item is recognized in profit or loss, respectively. The gain or loss from remeasuring the hedging instrument at fair value and the gain or loss on the hedged item attributable to the hedged risk are recognized in profit or loss in the same line item of the statement of comprehensive income (loss). The Group discontinues fair value hedge accounting if it does not designate the derivative hedging instrument and the hedged item as the hedge relationship between them anymore; if the hedging instrument expires or is sold, terminated or exercised; or if the hedge no longer meets the criteria for hedge accounting. ii) Cash flow hedges When a derivative designated as a cash flow hedging instrument meets the criteria of cash flow hedge accounting, the effective portion of changes in the fair value of the derivative is recognized in other comprehensive income and the ineffective portion of changes in the fair value of the derivative is recognized in profit or loss. The Group discontinues cash flow hedge accounting if it does not designate the derivative hedging instrument and the hedged item as the hedge relationship between them anymore; if the hedging instruments expires or is sold, terminated or exercised; or if the hedge no longer meets the criteria for hedge accounting. The cumulative gain or loss on the hedging instrument that has been recognized in other comprehensive income is reclassified to profit or loss in the periods during which the forecasted transaction occurs. If the forecasted transaction is no longer expected to occur, then the balance in other comprehensive income is recognized immediately in profit or loss. The Group is applying cash flow hedge accounting by designating expected foreign currency denominated sales arising from forecast export transactions as hedging items and the derivative instruments related to forward exchange as hedging instruments. The effective portion of changes in the fair value of the derivative is recognized in equity and the amount accumulated in equity is reclassified to revenue in the same period which forecast sales occur. Embedded derivative Embedded derivatives are separated from the host contract and accounted for separately if the host contract is not a financial asset and certain criteria are met. Other derivative financial instruments Other derivative financial instruments are measured at fair value and changes of their fair value are recognized in profit or loss. 3. Material Accounting Policies, Continued (g) Property, Plant and Equipment (i) Recognition and measurement Items of property, plant and equipment are measured at cost less accumulated depreciation and accumulated impairment losses. Cost includes an expenditure that is directly attributable to the acquisition of the asset. The cost of self-constructed assets includes the cost of materials and direct labor, any costs directly attributable to bringing the assets to a working condition for their intended use, the costs of dismantling and removing the items and restoring the site on which they are located and borrowing costs on qualifying assets. The gain or loss arising from the derecognition of an item of property, plant and equipment is determined as the difference between the net disposal proceeds, if any, and the carrying amount of the item and recognized in other income or other expenses. (ii) Subsequent costs Subsequent expenditure on an item of property, plant and equipment is recognized as part of its cost only if it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The costs of the day-to-day servicing of property, plant and equipment are recognized in profit or loss as incurred. (iii) Depreciation Land is not depreciated and depreciation of other items of property, plant and equipment is recognized in profit or loss on a straight-line basis, reflecting the pattern in which the asset's future economic benefits are expected to be consumed by the Group. The residual value of property, plant and equipment is zero. Estimated useful lives of the assets are as follows: Estimated useful lives (years) Buildings and structures 20 ~ 40 Machinery 4 , 5 Furniture and fixtures 4 Equipment, tools and vehicles 2 , 4 , 12 Right-of-use assets (*) (*) The Group depreciates the right-of-use assets from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. Depreciation methods, useful lives and residual values are reviewed at each financial year-end and adjusted if appropriate and any changes are accounted for as changes in accounting estimates. (h) Borrowing Costs The Group capitalizes borrowing costs, which includes interests and exchange differences arising from foreign currency borrowings to the extent that they are regarded as an adjustment to interest costs, directly attributable to the acquisition, construction or production of a qualifying asset as part of the cost of that asset. A qualifying asset is an asset that necessarily takes a substantial period of time to get ready for its intended use or sale. To the extent that the Group borrows funds specifically for the purpose of obtaining a qualifying asset, the Group determines the amount of borrowing costs eligible for capitalization as the actual borrowing costs incurred on that borrowing during the period less any investment income on the temporary investment of those borrowings. The Group immediately recognizes other borrowing costs as an expense. (i) Government Grants In case there is reasonable assurance that the Group will comply with the conditions attached to a government grant, the government grant is recognized as follows: 3. Material Accounting Policies, Continued (i) Government Grants, Continued (i) Grants related to the purchase or construction of assets A government grant related to the purchase or construction of assets is deducted in calculating the carrying amount of the asset. The grant is recognized in profit or loss over the life of a depreciable asset as a reduced depreciation expense and cash related to grant received is presented in investing activities in the statement of cash flows. (ii) Grants for compensating the Group’s expenses incurred A government grant that compensates the Group for expenses incurred is recognized in profit or loss as a deduction from relevant expenses on a systematic basis in the periods in which the expenses are recognized. (iii) Other government grants A government grant that becomes receivable for the purpose of giving immediate financial support to the Group with no compensation for expenses or losses already incurred or no future related costs is recognized as income of the period in which it becomes receivable. (j) Intangible Assets Intangible assets are initially measured at cost. Subsequently, intangible assets are measured at cost less accumulated amortization and accumulated impairment losses. (i) Goodwill Goodwill arising from business combinations is recognized as the excess of the acquisition cost of a business over the net fair value of the identifiable assets acquired and liabilities assumed. Any deficit is a bargain purchase that is recognized in profit or loss. Goodwill is measured at cost less accumulated impairment losses. (ii) Research and development Expenditure on research activities, undertaken with the prospect of gaining new scientific or technical knowledge and understanding, is recognized in profit or loss as incurred. Development activities involve a plan or design of the production of new or substantially improved products and processes. Development expenditure is capitalized as intangible assets only if the Group can demonstrate all of the following: - the technical feasibility of completing the intangible asset so that it will be available for use or sale, - its intention to complete the intangible asset and use or sell it, - its ability to use or sell the intangible asset, - how the intangible asset will generate probable future economic benefits (among other things, the Group can demonstrate the usefulness of the intangible asset by existence of a market for the output of the intangible asset or the intangible asset itself if it is to be used internally), - the availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset, and - its ability to measure reliably the expenditure attributable to the intangible asset during its development. Development projects are divided into research activities and development activities. Expenditures on research activities are recognized in profit or loss and qualifying development expenditures on development activities are capitalized. The expenditure capitalized includes the cost of materials, direct labor and overhead costs that are directly attributable to preparing the asset for its intended use and borrowing costs on qualifying assets. 3. Material Accounting Policies, Continued (j) Intangible Assets, Continued (iii) Other intangible assets Other intangible assets include intellectual property rights, software, customer relationships, technology, memberships and others. The Group currently has a number of patent license agreements related to product production. When the amount of payments for the entire contract period can be reliably determined, the total undiscounted amount is recognized as intangible assets as intellectual property rights and other account payables, respectively, and the intangible assets are amortized on a straight-line basis over the patent license period. (iv) Subsequent costs Subsequent expenditures are capitalized only when they increase the future economic benefits embodied in the specific intangible asset to which they relate. All other expenditures, including expenditures on internally generated goodwill and brands, are recognized in profit or loss as incurred. (v) Amortization Amortization is calculated on a straight-line basis over the estimated useful lives of intangible assets, other than goodwill, from the date that they are available for use. The residual value of intangible assets is zero. However, as there are no foreseeable limits to the periods over which condominium and golf club memberships are expected to be available for use, these intangible assets are regarded as having indefinite useful lives and not amortized. Estimated useful lives (years) Intellectual property rights 5 , 10 , (*1) Rights to use electricity, water and gas supply facilities 10 Software 4 , (*1) Customer relationships 7 , 10 Technology 10 Development costs (*2) Condominium and golf club memberships Indefinite (*1) Patent royalty (included in intellectual property rights) and software license are amortized over the useful lives considering the contract period. (*2) Capitalized development costs are amortized over the useful lives considering the life cycle of the developed products. Amortization of capitalized development costs are recognized in research and development expenses in the consolidated statement of comprehensive income (loss). Amortization periods an |
Cash and Cash Equivalents and D
Cash and Cash Equivalents and Deposits in Banks | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Cash and Cash Equivalents and Deposits in Banks | 4. Cash and Cash Equivalents and Deposits in Banks Cash and cash equivalents and deposits in banks as of December 31, 2022 and December 31, 2023 are as follows: (In millions of won) December 31, 2022 December 31, 2023 Current assets Cash and cash equivalents Cash ₩ 1,076 3 Deposits 1,823,573 2,257,519 ₩ 1,824,649 2,257,522 Deposits in banks Time deposits ₩ 267,163 900 Restricted deposits(*) 1,455,444 905,071 ₩ 1,722,607 905,971 Non-current assets Deposits in banks Restricted deposits(*) ₩ 11 11 (*) Includes funds deposited under agreements on mutually beneficial cooperation to aid LG Group companies’ suppliers, restricted deposits pledged to guarantee the Controlling Company and subsidiary’s borrowings and others. |
Trade Accounts and Notes Receiv
Trade Accounts and Notes Receivable, Other Accounts Receivable and Others | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Trade Accounts and Notes Receivable, Other Accounts Receivable and Others | 5. Trade Accounts and Notes Receivable, Other Accounts Receivable and Others (a) Trade accounts and notes receivable as of December 31, 2022 and December 31, 2023 are as follows: (In millions of won) December 31, 2022 December 31, 2023 Due from third parties ₩ 2,042,746 2,827,163 Due from related parties 316,168 390,930 ₩ 2,358,914 3,218,093 (b) Other accounts receivable as of December 31, 2022 and December 31, 2023 are as follows: (In millions of won) December 31, 2022 December 31, 2023 Current assets Non-trade receivables, net ₩ 146,921 112,739 Accrued income 22,505 14,246 ₩ 169,426 126,985 Due from related parties included in other accounts receivable, as of December 31, 2022 and 2023 are W 12,957 million and W 11,520 million, respectively. 5. Trade Accounts and Notes Receivable, Other Accounts Receivable and Others, Continued (c) The aging of trade accounts and notes receivable, and other accounts receivable as of December 31, 2022 and December 31, 2023 are as follows: (In millions of won) December 31, 2022 Book value Allowance for impairment Trade accounts Other Trade accounts Other Current ₩ 2,332,769 166,067 ( 841 ) ( 1,721 ) 1-15 days past due 12,019 1,000 ( 4 ) ( 9 ) 16-30 days past due 2,256 - ( 1 ) - 31-60 days past due 391 201 - ( 1 ) More than 60 days past due 12,354 3,936 ( 29 ) ( 47 ) ₩ 2,359,789 171,204 ( 875 ) ( 1,778 ) (In millions of won) December 31, 2023 Book value Allowance for impairment Trade accounts Other Trade accounts Other Current ₩ 3,212,514 123,919 ( 932 ) ( 191 ) 1-15 days past due 3,077 1,357 ( 1 ) - 16-30 days past due 3,435 156 - ( 2 ) 31-60 days past due - 168 - ( 2 ) More than 60 days past due - 1,592 - ( 12 ) ₩ 3,219,026 127,192 ( 933 ) ( 207 ) The movement in the allowance for impairment in respect of trade accounts and notes receivable and other accounts receivable for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) Trade accounts and notes receivable 2021 2022 2023 Balance at the beginning of the year ₩ 1,047 1,204 875 (Reversal of) bad debt expense 157 ( 329 ) 58 Balance at the end of the year ₩ 1,204 875 933 (In millions of won) Other accounts receivable 2021 2022 2023 Balance at the beginning of the year ₩ 1,778 2,005 1,778 (Reversal of) bad debt expense 227 ( 227 ) ( 239 ) Write-off - - ( 1,332 ) Balance at the end of the year ₩ 2,005 1,778 207 (d) Other current assets as of December 31, 2022 and 2023 are as follows: (In millions of won) December 31, 2022 December 31, 2023 Advanced payments ₩ 22,134 1,675 Prepaid expenses 74,420 103,355 Value added tax refundable 220,182 143,608 Right to recover returned goods 8,155 5,121 ₩ 324,891 253,759 |
Other Financial Assets
Other Financial Assets | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Other Financial Assets | 6. Other Financial Assets Other financial assets as of December 31, 2022 and 2023 are as follows: (In millions of won) December 31, 2022 December 31, 2023 Current assets Financial assets at fair value through profit or loss Derivatives(*) ₩ 119,417 136,762 Financial assets carried at amortized cost Deposits ₩ 8,962 1,356 Short-term loans 30,062 26,375 Lease receivables 6,914 4,130 ₩ 45,938 31,861 ₩ 165,355 168,623 Non-current assets Financial assets at fair value through profit or loss Equity instruments ₩ 96,064 87,027 Convertible securities 1,797 3,127 Derivatives(*) 110,663 32,941 ₩ 208,524 123,095 Financial assets carried at amortized cost Deposits ₩ 17,624 17,022 Long-term loans 58,806 33,509 Lease receivables 4,144 — ₩ 80,574 50,531 ₩ 289,098 173,626 (*) Represents cross currency interest rate swap contracts and others entered into by the Group to hedge currency and interest rate risks with respect to foreign currency denominated borrowings and bonds. The contracts are not designated as hedging instruments. |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Inventories | 7. Inventories Inventories as of December 31, 2022 and 2023 are as follows: (In millions of won) December 31, 2022 December 31, 2023 Finished goods ₩ 822,177 750,775 Work-in-process 1,235,363 1,145,606 Raw materials 651,602 457,356 Supplies 163,776 173,991 ₩ 2,872,918 2,527,728 For the years ended December 31, 2021, 2022 and 2023, the amount of inventories recognized as cost of sales and inventory write-downs included in cost of sales and usage of inventory write-downs are as follows: (In millions of won) 2021 2022 2023 Inventories recognized as cost of sales ₩ 24,572,939 25,027,703 20,985,643 Including: Inventory write-downs 224,576 245,619 192,627 Usage of inventory write-downs 213,932 224,576 245,619 There were no significant reversals of inventory write-downs recognized during the years ended December 31, 2021, 2022 and 2023. |
Investments in Equity Accounted
Investments in Equity Accounted Investees | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Investments in Equity Accounted Investees | 8. Investments in Equity Accounted Investees (a) Associates as of December 31, 2022 and 2023 are as follows: (In millions of won) 2022 2023 Associates Location Fiscal year end Date of incorporation Business Percentage of ownership Carrying Percentage of ownership Carrying Paju Electric Paju, December 31 January Manufacture glass for display 40 % ₩ 42,784 40 % ₩ 24,200 WooRee E&L Ansan, December 31 June Manufacture LED back light unit packages 13 % 13,576 13 % 7,106 YAS Co., Ltd. Paju, December 31 April Develop and manufacture deposition equipment for OLEDs 15 % 28,976 16 % 28,564 AVATEC Co., Daegu, December 31 August Process and sell glass for display 14 % 20,133 14 % 20,871 Arctic Sentinel, Los Angeles, U.S.A. March 31 June Develop and manufacture 10 % — 10 % — Cynora GmbH Bruchsal, December 31 March Develop organic emitting materials for displays and lighting devices 11 % — 10 % — (In millions of won) 2022 2023 Associates Location Fiscal year end Date of incorporation Business Percentage of ownership Carrying Percentage of ownership Carrying Material Seoul, December 31 January Develop, manufacture, and sell materials for display 10 % ₩ 3,650 16 % ₩ 3,588 ₩ 109,119 ₩ 84,329 (*1) During 2023, the Controlling Company recognized an impairment loss of W 5,662 million as finance cost for the difference between the carrying amount and the recoverable amount of investments in WooRee E&L Co., Ltd. (*2) During 2023, the Controlling Company recognized an impairment loss of W 1,146 million as finance cost for the difference between the carrying amount and the recoverable amount of investments in Material Science Co., Ltd. (*3) During 2023, due to the investee’s acquisition of treasury shares, the Group's shareholding ratio increased from 10 % to 16 %. Although the Controlling Company’s respective share interests in WooRee E&L Co., Ltd., YAS Co., Ltd., AVATEC Co., Ltd., Arctic Sentinel, Inc., Cynora GmbH and Material Science Co., Ltd. are below 20 %, the Controlling Company is able to exercise significant influence through its 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. As of December 31, 2023, the market value of the Group’s share in WooRee E&L Co., Ltd., YAS Co., Ltd., and AVATEC Co., Ltd., all of which are listed in KOSDAQ, are W 7,106 million, W 21,320 million and W 29,160 million, respectively. Dividends income recognized from equity method investees for the years ended December 31, 2021, 2022 and 2023 amounted to W 4,068 million, W 4,461 million and W 15,200 million, respectively. 8. Investments in Equity Accounted Investees, Continued (b) Summary of financial information of Paju Electric Glass Co., Ltd., a significant associate of the Group, as of December 31, 2022 and 2023 and for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) December 31, 2022 December 31, 2023 Total assets ₩ 136,784 109,992 Current assets 98,490 94,705 Non-current assets 38,294 15,287 Total liabilities 29,118 47,875 Current liabilities 28,332 47,459 Non-current liabilities 786 416 (In millions of won) 2021 2022 2023 Revenue ₩ 425,516 319,264 184,880 Profit(loss) for the year 13,364 6,192 ( 2,655 ) Other comprehensive loss ( 1,258 ) ( 10,216 ) ( 4,894 ) Total comprehensive income (loss) 12,106 ( 4,024 ) ( 7,549 ) (c) Reconciliation from financial information of the significant associate to its carrying value in the consolidated financial statements as of December 31, 2022 and 2023 are as follows: (i) As of December 31, 2022 (In millions of won) Net asset Ownership interest Net asset (applying ownership interest) Goodwill Intra-group transaction Impairment loss Book value Paju Electric ₩ 107,666 40 % 43,066 — ( 282 ) — 42,784 (ii) As of December 31, 2023 (In millions of won) Net asset Ownership interest Net asset (applying ownership interest) Goodwill Intra-group transaction Impairment loss Book value Paju Electric ₩ 62,117 40 % 24,847 — ( 647 ) — 24,200 (d) Book value of other associates, in aggregate, as of December 31, 2022 and 2023 are as follows: (i) As of December 31, 2022 (In millions of won) Net profit (loss) of associates (applying ownership interest) Book value Profit for the year Other comprehensive loss Total comprehensive loss Other associates ₩ 66,335 2,724 ( 7,516 ) ( 4,792 ) (ii) As of December 31, 2023 (In millions of won) Net profit (loss) of associates (applying ownership interest) Book value Profit for the year Other comprehensive loss Total comprehensive loss Other associates ₩ 60,129 ( 1,634 ) ( 722 ) ( 2,356 ) 8. Investments in Equity Accounted Investees, Continued (e) Changes in investments in associates accounted for using the equity method for the years ended December 31, 2022 and 2023 are as follows: (In millions of won) 2022 Company January 1 Reclassification(*) Dividends received Equity income on investments Other comprehensive loss Other gain December 31 Associates Paju Electric ₩ 48,398 — ( 4,361 ) 2,834 ( 4,087 ) — 42,784 Others 78,321 ( 10,620 ) ( 100 ) 2,724 ( 7,516 ) 3,526 66,335 ₩ 126,719 ( 10,620 ) ( 4,461 ) 5,558 ( 11,603 ) 3,526 109,119 (*) During 2022, certain investment was reclassified into the financial asset at fair value through profit or loss as the Group lost its right to appoint members of the board of directors due to the changes in contractual arrangement. (In millions of won) 2023 Company January 1 Dividends received Equity income on investments Other comprehensive loss Other gain December 31 Associates Paju Electric Glass ₩ 42,784 ( 15,200 ) ( 1,427 ) ( 1,957 ) — 24,200 Others 66,335 — ( 1,634 ) ( 722 ) ( 3,850 ) 60,129 ₩ 109,119 ( 15,200 ) ( 3,061 ) ( 2,679 ) ( 3,850 ) 84,329 |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Property, Plant and Equipment | 9. Property, Plant and Equipment (a) Changes in property, plant and equipment for the year ended December 31, 2022 are as follows: (In millions of won) Land Buildings and Machinery Furniture Construction-in- Right-of-use Others Total Acquisition cost ₩ 433,847 8,583,015 50,288,095 863,241 6,867,667 235,436 1,184,889 68,456,190 Accumulated depreciation — ( 4,068,333 ) ( 40,637,254 ) ( 675,638 ) — ( 111,382 ) ( 853,778 ) ( 46,346,385 ) Accumulated impairment — ( 209,152 ) ( 1,230,974 ) ( 8,484 ) ( 76,069 ) ( 4,188 ) ( 22,492 ) ( 1,551,359 ) Book value ₩ 433,847 4,305,530 8,419,867 179,119 6,791,598 119,866 308,619 20,558,446 Additions — — — — 5,709,828 72,567 — 5,782,395 Depreciation — ( 373,089 ) ( 3,182,783 ) ( 83,747 ) — ( 76,370 ) ( 269,796 ) ( 3,985,785 ) Disposals ( 3,573 ) — ( 172,547 ) ( 477 ) — — ( 36,958 ) ( 213,555 ) Impairment loss (*3) — ( 252,997 ) ( 672,061 ) ( 6,912 ) ( 292,564 ) ( 3,439 ) ( 29,282 ) ( 1,257,255 ) Others (*4) 45,771 196,747 1,732,712 78,497 ( 2,425,047 ) ( 420 ) 334,931 ( 36,809 ) Government grants received — — ( 57,503 ) — — — — ( 57,503 ) Effect of movements — 27,755 116,514 2,738 5,895 454 3,643 156,999 Book value as of ₩ 476,045 3,903,946 6,184,199 169,218 9,789,710 112,658 311,157 20,946,933 Acquisition cost as of ₩ 476,045 8,699,292 50,722,745 902,477 10,145,865 271,761 1,299,892 72,518,077 Accumulated depreciation ₩ — ( 4,348,201 ) ( 42,744,139 ) ( 719,862 ) — ( 151,550 ) ( 962,598 ) ( 48,926,350 ) Accumulated impairment ₩ — ( 447,145 ) ( 1,794,407 ) ( 13,397 ) ( 356,155 ) ( 7,553 ) ( 26,137 ) ( 2,644,794 ) (*1) As of December 31, 2022, construction-in-progress mainly relates to construction of manufacturing facilities. (*2) Others mainly consist of tools and equipment. (*3) During 2022, Display (Large OLED) CGU was assessed for impairment, and impairment losses amounting to W 1,236,563 million are recognized as other expenses (*4) Others mainly represent the reclassification of construction-in-progress to other property, plant and equipment. 9. Property, Plant and Equipment, Continued (b) Changes in property, plant and equipment for the year ended December 31, 2023 are as follows: (In millions of won) Land Buildings and Machinery Furniture Construction-in- Right-of-use Others Total Acquisition cost ₩ 476,045 8,699,292 50,722,745 902,477 10,145,865 271,761 1,299,892 72,518,077 Accumulated depreciation — ( 4,348,201 ) ( 42,744,139 ) ( 719,862 ) — ( 151,550 ) ( 962,598 ) ( 48,926,350 ) Accumulated impairment — ( 447,145 ) ( 1,794,407 ) ( 13,397 ) ( 356,155 ) ( 7,553 ) ( 26,137 ) ( 2,644,794 ) Book value ₩ 476,045 3,903,946 6,184,199 169,218 9,789,710 112,658 311,157 20,946,933 Additions — — — — 3,392,876 74,611 — 3,467,487 Depreciation — ( 376,264 ) ( 2,837,242 ) ( 75,727 ) — ( 68,349 ) ( 279,200 ) ( 3,636,782 ) Disposals ( 330 ) ( 758 ) ( 506,420 ) ( 1,896 ) — — ( 43,368 ) ( 552,772 ) Impairment loss (*3) — 8 ( 53,513 ) ( 6 ) — — ( 6,554 ) ( 60,065 ) Others (*4) ( 2,902 ) 1,494,070 3,963,010 60,585 ( 5,900,151 ) — 374,182 ( 11,206 ) Government grants received — — ( 7,417 ) — — — — ( 7,417 ) Effect of movements — 9,189 39,066 964 3,626 326 983 54,154 Book value as of ₩ 472,813 5,030,191 6,781,683 153,138 7,286,061 119,246 357,200 20,200,332 Acquisition cost as of ₩ 472,813 10,192,281 52,107,890 942,376 7,571,687 245,149 1,448,688 72,980,884 Accumulated depreciation ₩ — ( 4,715,087 ) ( 43,466,025 ) ( 775,953 ) — ( 119,804 ) ( 1,062,377 ) ( 50,139,246 ) Accumulated impairment ₩ — ( 447,003 ) ( 1,860,182 ) ( 13,285 ) ( 285,626 ) ( 6,099 ) ( 29,111 ) ( 2,641,306 ) (*1) As of December 31, 2023, construction-in-progress mainly relates to construction of manufacturing facilities. (*2) Others mainly consist of tools and equipment. (*3) Impairment losses of W 60,065 million are recognized for the difference between the carrying amount and the recoverable amount of property, plant and equipment. (*4) Others mainly represent the reclassification of construction-in-progress to other property, plant and equipment. 9. Property, Plant and Equipment, Continued (c) Capitalized borrowing costs and capitalization rate for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 2022 2023 Capitalized borrowing costs ₩ 64,606 152,074 258,168 Capitalization rate 3.69 % 3.11 % 5.18 % (d) The Group provides a portion of property, plant and equipment as an operating lease. During 2023, rental income from property, plant and equipment is W 2,271 million (2021: W 1,978 million, 2022: W 2,806 million). |
Intangible Assets and Non-finan
Intangible Assets and Non-financial Assets Impairment | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Intangible Assets and Non-financial Assets Impairment | 10. Intangible Assets and Non-financial Assets Impairment (a) Changes in intangible assets for the year ended December 31, 2022 are as follows: (In millions of won) Intellectual Software Member- Development Construction- Customer Technology Good- Others Total Acquisition cost as of January 1, 2022 ₩ 1,873,027 1,261,232 30,742 1,771,383 19,562 59,176 12,763 106,334 13,081 5,147,300 Accumulated amortization as of ( 915,764 ) ( 1,023,062 ) — ( 1,318,476 ) — ( 37,491 ) ( 11,243 ) — ( 13,081 ) ( 3,319,117 ) Accumulated impairment loss as of ( 28,945 ) ( 9,309 ) ( 1,659 ) ( 63,692 ) — ( 21,685 ) — ( 57,995 ) — ( 183,285 ) Book value as of January 1, 2022 ₩ 928,318 228,861 29,083 389,215 19,562 — 1,520 48,339 — 1,644,898 Additions - internally developed — — — 502,755 — — — — — 502,755 Additions - external purchases 187,114 24,741 7,004 — 95,179 — — — — 314,038 Amortization (*1) ( 192,983 ) ( 105,615 ) — ( 272,102 ) — — ( 168 ) — — ( 570,868 ) Disposals — ( 977 ) ( 10,608 ) — — — — — — ( 11,585 ) Impairment loss (*3)(*4) ( 34,901 ) ( 17,799 ) ( 42 ) ( 54,649 ) — — ( 43 ) ( 26,963 ) — ( 134,397 ) Transfer from construction-in-progress — 85,319 — — ( 85,319 ) — — — — — Effect of movements in exchange rates 10,108 ( 2,957 ) 33 — ( 1,253 ) — — 2,185 — 8,116 Book value as of December 31, 2022 ₩ 897,656 211,573 25,470 565,219 28,169 — 1,309 23,561 — 1,752,957 Acquisition cost as of December 31, 2022 ₩ 2,074,083 1,340,637 27,170 2,016,477 28,169 59,176 12,763 108,519 13,081 5,680,075 Accumulated amortization as of ₩ ( 1,115,014 ) ( 1,108,459 ) — ( 1,358,446 ) — ( 37,491 ) ( 11,411 ) — ( 13,081 ) ( 3,643,902 ) Accumulated impairment loss as of ₩ ( 61,413 ) ( 20,605 ) ( 1,700 ) ( 92,812 ) — ( 21,685 ) ( 43 ) ( 84,958 ) — ( 283,216 ) (*1) The Group has classified the amortization as manufacturing overhead costs, selling expenses, administrative expenses and research and development expenses. (*2) Others mainly consist of rights to use electricity and gas supply facilities. (*3) During 2022, Display (Large OLED) CGU was assessed for impairment, and impairment losses amounting to W 93,966 million are recognized as other expenses. The impairment amount is allocated to goodwill, development costs, intellectual property rights and others. (*4) The Group recognized an impairment loss amounting to W 33,386 million for development projects which are not likely to generate revenue. 10. Intangible Assets and Non-financial Assets Impairment, Continued (b) Changes in intangible assets for the year ended December 31, 2023 are as follows: (In millions of won) Intellectual Software Member- Development Construction- Customer Technology Good- Others Total Acquisition cost as of January 1, 2023 ₩ 2,074,083 1,340,637 27,170 2,016,477 28,169 59,176 12,763 108,519 13,081 5,680,075 Accumulated amortization as of ( 1,115,014 ) ( 1,108,459 ) — ( 1,358,446 ) — ( 37,491 ) ( 11,411 ) — ( 13,081 ) ( 3,643,902 ) Accumulated impairment loss as of ( 61,413 ) ( 20,605 ) ( 1,700 ) ( 92,812 ) — ( 21,685 ) ( 43 ) ( 84,958 ) — ( 283,216 ) Book value as of January 1, 2023 ₩ 897,656 211,573 25,470 565,219 28,169 — 1,309 23,561 — 1,752,957 Additions - internally developed — — — 493,608 — — — — — 493,608 Additions - external purchases 118,344 — — — 117,443 — — — — 235,787 Amortization (*1) ( 187,819 ) ( 105,285 ) — ( 363,162 ) — — ( 163 ) — — ( 656,429 ) Disposals ( 202 ) ( 396 ) ( 3,796 ) — — — — — — ( 4,394 ) Impairment loss (*3) ( 1,633 ) ( 425 ) — ( 52,775 ) — — — — — ( 54,833 ) Reversal of impairment loss — — 242 — — — — — — 242 Transfer from construction-in-progress — 115,275 — ( 1,429 ) ( 112,568 ) — — — — 1,278 Effect of movements in exchange rates 2,433 2,712 6 — ( 8 ) — — 596 — 5,739 Book value as of December 31, 2023 ₩ 828,779 223,454 21,922 641,461 33,036 — 1,146 24,157 — 1,773,955 Acquisition cost as of December 31, 2023 ₩ 2,189,071 1,403,157 23,463 2,295,468 33,036 59,176 12,763 109,115 13,081 6,138,330 Accumulated amortization as of ₩ ( 1,299,655 ) ( 1,160,702 ) — ( 1,509,575 ) — ( 37,491 ) ( 11,574 ) — ( 13,081 ) ( 4,032,078 ) Accumulated impairment loss as of ₩ ( 60,637 ) ( 19,001 ) ( 1,541 ) ( 144,432 ) — ( 21,685 ) ( 43 ) ( 84,958 ) — ( 332,297 ) (*1) The Group has classified the amortization as manufacturing overhead costs, selling expenses, administrative expenses and research and development expenses. (*2) Others mainly consist of rights to use electricity and gas supply facilities. (*3) The Group recognized an impairment loss amounting to W 52,775 million for development projects which are not likely to generate revenue. 10. Intangible Assets and Non-financial Assets Impairment, Continued (c) Development costs and Intellectual property rights as of December 31, 2022 and 2023 are as follows: Development costs (i) As of December 31, 2022 (In millions of won) Classification Product type Book Value TV ₩ 55,187 Development completed IT 24,684 Mobile and others 199,552 ₩ 279,423 TV ₩ 60,376 Development in process IT 100,380 Mobile and others 125,040 ₩ 285,796 ₩ 565,219 (ii) As of December 31, 2023 (In millions of won) Classification Product type Book Value TV ₩ 43,956 Development completed IT 63,049 Mobile and others 190,487 ₩ 297,492 TV ₩ 46,368 Development in process IT 175,023 Mobile and others 122,578 ₩ 343,969 ₩ 641,461 10. Intangible Assets and Non-financial Assets Impairment, Continued Intellectual property rights (i) As of December 31, 2022 (In millions of won and in years) Classification Category Book Value Remaining Direct additions ₩ 198,136 7.2 Patent Licenses agreement(*2) 697,605 6.0 ₩ 895,741 Other 1,915 3.6 ₩ 897,656 (*1) Weighted average of the remaining useful life at the end of the reporting period as each patent has a different remaining amortization period. (*2) The Group’s rights under contracts with the patent company. (ii) As of December 31, 2023 (In millions of won and in years) Classification Category Book Value Remaining Direct additions ₩ 214,634 7.1 Patent Licenses agreement(*2) 611,801 5.5 ₩ 826,435 Other 2,344 3.6 ₩ 828,779 (*1) Weighted average of the remaining useful life at the end of the reporting period as each patent has a different remaining amortization period. (*2) The Group’s rights under contracts with the patent company. 10. Intangible Assets and Non-financial Assets Impairment, Continued (d) Impairment assessment on CGU as of December 31, 2022 (i) Changes in Cash Generating Unit (“CGU”) During 2022, the Group distinguished Display (Large OLED) CGU as a separate CGU from the existing Display CGU due to withdrawal of the domestic LCD TV business and the reorganization of the related businesses. As of December 31, 2022, the Group’s cash-generating units consist of Display CGU, Display (Large OLED) CGU and Display (AD PO) CGU. Changes in the carrying amount of goodwill allocated to the related CGUs are as follows: (In millions of won) 2022 December 31, 2021 Effect of movements Changes in CGU (*) Impairment December 31, 2022 Display CGU ₩ 48,339 2,185 ( 26,963 ) — 23,561 Display (Large OLED) CGU — — 26,963 ( 26,963 ) — ₩ 48,339 2,185 — ( 26,963 ) 23,561 (*) During 2022, a portion of goodwill allocated to Display CGU as of December 31, 2021 was re-allocated to Display (Large OLED) CGU. (ii) Impairment assessment on CGU As of December 31, 2022, the Group performed impairment tests for Display CGU and Display (Large OLED) CGU. No impairment test was performed for Display (AD PO) CGU, impairment loss for which was initially recognized in 2019, as there was no indicator of impairment or reversal identified during 2022. 10. Intangible Assets and Non-financial Assets Impairment, Continued (d) Impairment assessment on CGU as of December 31, 2022, Continued The recoverable amount of each CGU is determined based on its value in use. Value in use is calculated using the estimated cash flow based on 5-year business plan approved by management. The estimated revenue and operating expenditures of the Group’s products used in the forecast was determined considering external sources and the Group’s past experience. Management estimated the future cash flows based on its past performance and forecasts on market growth. The key assumptions used in the estimation of value in use for Display CGU and Display (Large OLED) CGU include revenue and operating expenditures for the forecast period, growth rates for subsequent years (“terminal growth rate”), and discount rate. Terminal growth rate and the discount rate used in the estimation of value in use are as follows. Pre-tax Post-tax Terminal 2021 Display CGU 10.5 % 8.4 % 1.0 % 2022 Display CGU 10.8 % 9.0 % 1.0 % Display (Large OLED) CGU 10.5 % 9.0 % 1.0 % (*) The discount rate was calculated using the weighted average cost of equity capital and debt and the beta of equity capital was calculated as the average of five global listed companies in the same industry and the Group. Cost of debt was calculated using the yield rate of non-guaranteed corporate bond considering the Group's credit rating and debt ratio was determined using the average of the debt ratios of the five global listed companies in the same industry and the Group. The Group calculates the value in use of each CGU using post-tax cash flows and a post-tax discount rate, and the result is not significantly different from the value in use calculated using pre-tax cash flows and pre-tax discount rate. As a result of the impairment test for Display CGU, the recoverable amount exceeded its carrying amount by W 365,774 million. Management has identified that a reasonably possible change in two key assumptions could cause the carrying amount to exceed the recoverable amount. The value in use determined for this CGU is sensitive to the discount rate and terminal growth rate used in the discounted cash flow model. Specifically, the discount rate and terminal growth rate would need to increase by 0.28 % and decrease by 0.31 %, individually (holding all the other assumptions constant) for the estimated recoverable amount to be equal to the carrying amount. As a result of the impairment test, due to unfavorable changes in the business environment, the carrying amount of Display (Large OLED) CGU exceeded the recoverable amount of W 2,999,393 million and an impairment loss of W 1,330,529 million was recognized as other expenses. If the discount rate increases by 0.5 %, the value in use would have decreased by W 262,590 million ( 8.8 %) and if the terminal growth rate decreases by 0.5 %, the value in use would have decreased by W 201,256 million ( 6.7 %). 10. Intangible Assets and Non-financial Assets Impairment, Continued (e) Impairment assessment on CGU as of December 31, 2023 As of December 31, 2023, the Group’s cash-generating units consist of Display CGU, Display (Large OLED) CGU and Display (AD PO) CGU. As of December 31, 2023, the Group performed impairment assessment for Display CGU. All the goodwill balance as of December 31, 2023 is allocated to the Display CGU. The recoverable amount of Display CGU is determined based on its value in use. Value in use is calculated using the estimated cash flow based on 5-year business plan approved by management. The estimated revenue and operating expenditures of the Group’s products used in the forecast was determined considering external sources and the Group’s historical experience. Management estimated the future cash flows based on its past performance and forecasts on market growth. The key assumptions used in the estimation of value in use for Display CGU include revenue and operating expenditures for the forecast period and discount rate. Growth rates for subsequent years(“Terminal growth rate”) and the discount rate used in the estimation of value in use are as follows. Pre-tax Post-tax Terminal 2022 Display CGU 10.8 % 9.0 % 1.0 % 2023 Display CGU 10.9 % 9.0 % 1.0 % (*) The discount rate was calculated using the weighted average cost of equity capital and debt and the beta of equity capital was calculated as the average of five global listed companies in the same industry and the Group. Cost of debt was calculated using the yield rate of non-guaranteed corporate bond considering the Group's credit rating and debt ratio was determined using the average of the debt ratios of the five global listed companies in the same industry and the Group. The Group calculates the value in use of the CGU using post-tax cash flows and a post-tax discount rate, and the result is not significantly different from the value in use calculated using pre-tax cash flows and pre-tax discount rate. As a result of impairment assessment for Display CGU, the recoverable amount exceeded its carrying amount by W 975,459 million. Management has identified that a reasonably possible change in certain key assumption could cause the carrying amount to exceed the recoverable amount. The value in use determined for this CGU is sensitive to the discount rate used in the discounted cash flow model. Specifically, the discount rate would need to increase by 0.92 % (holding all the other assumptions constant) for the estimated recoverable amount to be equal to the carrying amount. |
Investment Property
Investment Property | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Investment Property | 11. Investment Property (a) Changes in investment property for the year ended December 31, 2022 and 2023 are as follows: (In millions of won) 2022 2023 Book value as of January 1 ₩ — 28,269 Transfer from property, plant and equipment 36,809 9,928 Depreciation ( 804 ) ( 4,962 ) Impairment loss ( 7,736 ) — Others — ( 240 ) Book value as of December 31 ₩ 28,269 32,995 (b) During 2023, rental income from investment property is W 5,478 million (2022: W 358 million). |
Financial Liabilities
Financial Liabilities | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Financial Liabilities | 12. Financial Liabilities (a) Financial liabilities as of December 31, 2022 and 2023 are as follows: (In millions of won) December 31, 2022 December 31, 2023 Current Short-term borrowings ₩ 2,578,552 1,875,635 Current portion of long-term borrowings 2,538,917 2,934,693 Current portion of bonds 316,648 369,716 Derivatives(*1) 14,443 26,193 Fair value hedging derivatives(*2) — 7,392 Lease liabilities 40,694 48,666 ₩ 5,489,254 5,262,295 Non-current Long-term borrowings ₩ 8,425,195 10,230,658 Bonds 1,132,098 1,118,427 Derivatives (*1) 32,965 37,333 Fair value hedging derivatives (*2) — 28,660 Lease liabilities 32,094 24,698 ₩ 9,622,352 11,439,776 (*1) Represents cross currency interest rate swap contracts and others entered into by the Group to hedge currency and interest rate risks with respect to foreign currency denominated borrowings and bonds. The contracts are not designated as hedging instruments. (*2) Represents forward exchange contracts entered into by the Group to hedge exchange rate risks with respect to advances received in foreign currency. The contracts are designated as hedging instruments. 12. Financial Liabilities, Continued (b) Short-term borrowings as of December 31, 2022 and 2023 are as follows. (In millions of won, USD and CNY) Lender Annual December 31, December 31, Standard Chartered Bank Korea Limited and others 3.40 ~ 6.95 ₩ 2,578,552 1,875,635 Foreign currency equivalent USD 1,252 USD 747 CNY 1,000 CNY 345 (c) Won denominated long-term borrowings as of December 31, 2022 and 2023 are as follows: (In millions of won) Lender Annual December 31, 2022 December 31, 2023 LG Electronics Inc. 6.06 ₩ — 1,000,000 Korea Development Bank and others 1.90 ~ 7.50 2,986,102 3,490,967 Less current portion of long-term borrowings ₩ ( 1,341,500 ) ( 776,000 ) ₩ 1,644,602 3,714,967 (d) Foreign currency denominated long-term borrowings as of December 31, 2022 and 2023 are as follows: (In millions of won, USD and CNY) Lender Annual December 31, 2022 December 31, 2023 KEB Hana Bank and others 1.82 ~ 8.60 ₩ 7,978,010 8,674,384 Foreign currency equivalent USD 3,494 USD 3,222 CNY 19,569 CNY 24,991 Less current portion of long-term borrowings ₩ ( 1,197,417 ) ( 2,158,693 ) ₩ 6,780,593 6,515,691 12. Financial Liabilities, Continued (e) Details of bonds issued and outstanding as of December 31, 2022 and 2023 are as follows: (In millions of won and USD) Maturity Annual interest rate December 31, December 31, Won denominated bonds at Publicly issued bonds February 2024 ~ February 2027 2.29 ~ 3.66 ₩ 1,215,000 1,025,000 Privately issued bonds January 2025 ~ January 2026 7.20 ~ 7.25 110,000 337,000 Less discount on bonds ( 2,927 ) ( 2,120 ) Less current portion ( 189,975 ) ( 369,716 ) ₩ 1,132,098 990,164 Foreign currency denominated Privately issued bonds April 2026 7.29 ₩ 126,730 128,940 Foreign currency equivalent (contractual USD 100 USD 100 Less discount on bonds ( 57 ) ( 677 ) Foreign currency equivalent (discount USD ( 0 ) USD ( 1 ) Less current portion ( 126,673 ) — ₩ — 128,263 ₩ 1,132,098 1,118,427 (*1) Principal of the won denominated bonds is to be repaid at maturity and interests are paid quarterly. (*2) Principal of the foreign currency denominated bonds is to be repaid at maturity and interests are paid quarterly. |
Employee Benefits
Employee Benefits | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Employee Benefits | 13. Employee Benefits The Controlling Company and certain subsidiaries’ defined benefit plans provide a lump-sum payment to an employee based on final salary rates and length of service at the time the employee leaves the Controlling Company or certain subsidiaries. The defined benefit plans expose the Group to actuarial risks, such as the risk associated with expected periods of service, interest rate risk, market (investment) risk, and others. (a) Net defined benefit liabilities (defined benefit assets) recognized as of December 31, 2022 and 2023 are as follows: (In millions of won) December 31, 2022 December 31, 2023 Present value of partially funded defined benefit obligations ₩ 1,602,697 1,491,146 Fair value of plan assets ( 2,048,687 ) ( 1,897,025 ) ₩ ( 445,990 ) ( 405,879 ) Defined benefit liabilities, net ₩ 1,531 1,559 Defined benefit assets, net ₩ 447,521 407,438 (b) Changes in the present value of the defined benefit obligations for the years ended December 31, 2022 and 2023 are as follows: (In millions of won) 2022 2023 Defined benefit obligations at January 1 ₩ 1,684,096 1,602,697 Current service cost 173,534 173,879 Interest cost 59,104 83,793 Remeasurements (before tax) ( 195,908 ) ( 65,505 ) Benefit payments ( 116,472 ) ( 287,100 ) Net transfers from (to) related parties ( 1,363 ) ( 16,551 ) Others ( 294 ) ( 67 ) Defined benefit obligations at December 31 ₩ 1,602,697 1,491,146 Weighted average remaining maturity of defined benefit obligations as of December 31, 2022 and 2023 are 12.95 years and 12.20 years, respectively. (c) Changes in fair value of plan assets for the years ended December 31, 2022 and 2023 are as follows: (In millions of won) 2022 2023 Fair value of plan assets at January 1 ₩ 1,750,783 2,048,687 Expected return on plan assets 64,378 107,735 Remeasurements (before tax) ( 30,044 ) ( 870 ) Contributions by employer directly to plan assets 371,398 2,219 Benefit payments ( 107,828 ) ( 260,528 ) Net transfers from (to) related parties — ( 218 ) Fair value of plan assets at December 31 ₩ 2,048,687 1,897,025 The estimated contributions payable in the following financial year is W 180,902 million. 13. Employee Benefits, Continued (d) Plan assets as of December 31, 2022 and 2023 are as follows: (In millions of won) December 31, 2022 December 31, 2023 Guaranteed deposits in banks ₩ 2,048,687 1,897,025 As of December 31, 2023, the Group maintains the plan assets primarily with Mirae Asset Securities Co., Ltd., KB Insurance Co., Ltd. and others. (e) Expenses related to defined benefit plans recognized in profit or loss for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 2022 2023 Current service cost ₩ 150,136 173,534 173,879 Net interest cost ( 5,895 ) ( 5,274 ) ( 23,942 ) ₩ 144,241 168,260 149,937 Expenses are recognized in the consolidated statements of comprehensive income (loss) as follows: (In millions of won) 2021 2022 2023 Cost of sales ₩ 110,750 128,706 114,226 Selling expenses 6,631 8,017 7,138 Administrative expenses 16,496 18,780 16,865 Research and development expenses 10,364 12,757 11,708 ₩ 144,241 168,260 149,937 (f) Remeasurements of net defined benefit liabilities (assets) included in other comprehensive income (loss) for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 2022 2023 Balance at January 1 ₩ 38,154 ( 125,293 ) ( 2,900 ) Remeasurements Actuarial profit or loss arising from: Experience adjustment ( 124,974 ) ( 83,376 ) 66,461 Demographic assumptions ( 7,206 ) ( 8,020 ) ( 85 ) Financial assumptions ( 73,138 ) 287,304 ( 871 ) Return on plan assets ( 15,483 ) ( 30,044 ) ( 870 ) Group’s share of associates regarding remeasurements ( 84 ) 32 170 ₩ ( 220,885 ) 165,896 64,805 Income tax ₩ 57,438 ( 43,503 ) ( 14,818 ) Balance at December 31 ₩ ( 125,293 ) ( 2,900 ) 47,087 13. Employee Benefits, Continued (g) Principal actuarial assumptions as of December 31, 2022 and 2023 (expressed as weighted averages) are as follows: December 31, 2022 December 31, 2023 Expected rate of salary increase 4.7 % 4.0 % Discount rate for defined benefit obligations 5.4 % 4.6 % Assumptions regarding future mortality are based on published statistics and mortality tables. The current mortality underlying the values of the liabilities in the defined benefit plans are as follows: December 31, 2022 December 31, 2023 Teens Males 0.00 % 0.00 % Females 0.00 % 0.00 % Twenties Males 0.01 % 0.01 % Females 0.00 % 0.00 % Thirties Males 0.01 % 0.01 % Females 0.00 % 0.00 % Forties Males 0.02 % 0.02 % Females 0.01 % 0.01 % Fifties Males 0.04 % 0.04 % Females 0.02 % 0.02 % (h) Reasonably possible changes to respective relevant actuarial assumptions would have affected the defined benefit obligations by the following amounts as of December 31, 2023: (In millions of won) Defined benefit obligations 1% increase 1% decrease Discount rate for defined benefit obligations ₩ ( 157,102 ) 184,374 Expected rate of salary increase 192,107 ( 165,703 ) |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Provisions | 14. Provisions (a) Changes in provisions for the year ended December 31, 2022 are as follows: (In millions of won) Litigation Warranties (*) Others Total Balance at January 1, 2022 ₩ — 257,126 9,247 266,373 Additions (reversal) 1,680 251,395 ( 816 ) 252,259 Usage — ( 259,153 ) — ( 259,153 ) Balance at December 31, 2022 ₩ 1,680 249,368 8,431 259,479 Current ₩ 1,680 163,211 8,431 173,322 Non-current ₩ — 86,157 — 86,157 (*) Product warranties on defective products are normally applicable for warranty periods from the date of customer’s purchase. The provision is calculated by using historical and anticipated rates of warranty claims, and costs per claim to satisfy the Group’s warranty obligation. (b) Changes in provisions for the year ended December 31, 2023 are as follows: (In millions of won) Litigation Warranties (*) Others Total Balance at January 1, 2023 ₩ 1,680 249,368 8,431 259,479 Additions (reversal) 126 101,846 ( 2,551 ) 99,421 Usage — ( 177,419 ) — ( 177,419 ) Balance at December 31, 2023 ₩ 1,806 173,795 5,880 181,481 Current ₩ 1,806 109,990 5,880 117,676 Non-current ₩ — 63,805 — 63,805 (*) Product warranties on defective products are normally applicable for warranty periods from the date of customer’s purchase. The provision is calculated by using historical and anticipated rates of warranty claims, and costs per claim to satisfy the Group’s warranty obligation. |
Contingent Liabilities and Comm
Contingent Liabilities and Commitments | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Contingent Liabilities and Commitments | 15. Contingent Liabilities and Commitments (a) Legal Proceedings Anti-trust litigations Some individual claimants filed “follow-on” damages claims against the Group and other TFT-LCD manufacturers alleging violations of EU competition law. While the Group continues its vigorous defense of the various pending proceedings described above, as of December 31, 2023, the Group cannot reliably estimate the timing and amount of outflows of resources embodying economic benefits relating to the proceedings. Others The Group is involved in various lawsuits and disputes in addition to the pending proceedings described above. The Group cannot reliably estimate the timing and amount of outflows of resources embodying economic benefits relating to the disputes. (b) Commitments Factoring and securitization of accounts receivable The Controlling Company has agreements with Korea Development Bank and several other banks for accounts receivable sales negotiating facilities of up to an aggregate of USD 1,000 million ( W 1,289,400 million) in connection with the Controlling Company’s export sales transactions with its subsidiaries. As of December 31, 2023, there are no short-term borrowings that are outstanding but past due in connection with these agreements. In connection with all of the contracts in this paragraph, the Controlling Company has sold its accounts receivable with recourse. 15. Contingent Liabilities and Commitments, Continued The Controlling Company and overseas subsidiaries have agreements with financial institutions for accounts receivables sales negotiating facilities. The respective maximum amount of accounts receivables that could be sold under the agreement and the amount of sold, but not yet due, accounts receivables by contract are as follows: (In millions of USD and won) Classification Financial institutions Credit limit Not yet due Contractual amount KRW equivalent Contractual amount KRW equivalent Controlling Company Sumitomo Mitsui Banking USD 20 25,788 — — MUFG Bank USD 180 232,092 USD 3 3,815 BNP Paribas USD 15 19,341 — — ING Bank USD 40 51,576 USD 7 9,026 USD 255 328,797 USD 10 12,841 Subsidiaries LG Display Singapore Standard Chartered Bank USD 100 128,940 — — United Overseas Bank USD 150 193,410 USD 50 64,478 JPMorgan Chase Bank, USD 50 64,470 — — Credit Agricole Corporate USD 300 386,820 — — ING Bank USD 50 64,470 — — LG Display Taiwan BNP Paribas USD 15 19,341 — — Australia and New USD 160 206,304 USD 39 50,159 LG Display Germany BNP Paribas USD 135 174,069 USD 55 70,906 LG Display America, Hong Kong & Shanghai USD 400 515,760 USD 200 257,881 Standard Chartered Bank USD 1,000 1,289,400 USD 868 1,119,287 ING Bank USD 150 193,410 USD 30 38,735 LG Display Japan Co., Standard Chartered Bank USD 120 154,728 USD 20 25,790 Chelsea Capital USD 20 25,788 — — LG Display Guangzhou KEB Hana Bank (China) USD 30 38,682 USD 20 25,797 USD 2,680 3,455,592 USD 1,282 1,653,033 USD 2,935 3,784,389 USD 1,292 1,665,874 In connection with all of the contracts in the above table, the Group has sold its accounts receivable without recourse. 15. Contingent Liabilities and Commitments, Continued Letters of credit As of December 31, 2023, the Group entered into agreements with financial institutions in relation to the opening of letters of credit and the respective credit limits under the agreements are as follows: (In millions of USD and won) Contractual amount KRW equivalent KEB Hana Bank USD 450 ₩ 580,230 Industrial Bank of Korea USD 450 580,230 Industrial and Commercial Bank of China USD 200 257,880 Shinhan Bank USD 70 90,258 KB Kookmin Bank USD 700 902,580 MUFG Bank USD 100 128,940 The Export–Import Bank of Korea USD 100 128,940 USD 2,070 ₩ 2,669,058 Payment guarantees The Controlling Company was provided with payment guarantees amounting to USD 1,200 million ( W 1,547,280 million) from KB Kookmin Bank and others for advances received related to the long-term supply agreements. LG Display (China) Co., Ltd. and other subsidiaries were provided with payment guarantees from the China Construction Bank and other various banks amounting to CNY 850 million ( W 153,714 million), JPY 900 million ( W 8,214 million), VND 73,279 million ( W 3,898 million), and USD 0.5 million ( W 689 million), respectively, for their local tax payments and utility payments. License agreements As of December 31, 2023, the Group has technical license agreements with Hitachi Display, Ltd. and others in relation to its LCD business and patent license agreement with Universal Display Corporation and others in relation to its OLED business. Also, the Group has a trademark license agreement with LG Corp. and other intellectual property license agreements with various companies as of December 31, 2023. Long-term supply agreement As of December 31, 2023, in connection with long-term supply agreements with customers, the Controlling Company recognized USD 1,200 million ( W 1,547,280 million) in advances received. The advances received will be used to offset accounts receivable arising from future product sales after a specified period of time. The Controlling Company was provided with payment guarantees amounting to USD 1,200 million ( W 1,547,280 million) from KB Kookmin Bank and other various banks relating to advances received (see note 15(b)). 15. Contingent Liabilities and Commitments, Continued Pledged assets The pledged assets has provided by the Group are as follows: (In millions of won, USD and CNY) Pledged Assets Carrying Maximum bond Secured creditor Borrowing Property, plant and equipment and others ₩ 507,234 1,200,000 LG Electronics Inc. 1,000,000 89,703 326,400 Korea Development Bank and others 272,000 264,335 780,000 Korea Development Bank and others 200,000 711,885 — China Construction Bank Corporation and others CNY 9,330 Deposits in banks and others CNY 5,825 1,053,338 Shinhan Bank and others USD 400 450,000 The property, plant and equipment amounting to W 89,703 million are provided as collateral for borrowings of W 272,000 million and W 200,000 million to Korea Development Bank and others. Commitments for asset acquisition The Group’s commitments in relation to capital expenditures on property, plant and equipment and intangible assets as of December 31, 2023 are W 838,126 million. This commitment has not been recognized in these consolidated financial statements. |
Share Capital, Share Premium an
Share Capital, Share Premium and Reserves | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Share Capital, Share Premium and Reserves | 16. Share Capital, Share Premium and Reserves (a) Share capital and Share Premium The Controlling Company is authorized to issue 500,000,000 shares of capital stock (par value W 5,000 ), and as of December 31, 2022 and December 31, 2023, the number of issued common shares is 357,815,700 . There have been no changes in the capital stock from January 1, 2022 to December 31, 2023. The Group’s capital surplus consists of share premium. There have been no changes in share premium from January 1, 2022 to December 31, 2023. (b) Reserves Reserves consist mainly of the following: Translation reserve The translation reserve comprises all foreign currency differences arising from the translation of the financial statements of foreign operations. 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 accounted investees. Reserves as of December 31, 2022 and 2023 are as follows: (In millions of won) December 31, 2022 December 31, 2023 Foreign currency translation differences for ₩ 509,620 548,792 Other comprehensive loss from associates ( 29,992 ) ( 32,816 ) ₩ 479,628 515,976 16. Share Capital, Share Premium and Reserves, Continued The movement in reserves for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) Loss on valuation of derivatives Foreign currency translation differences for foreign operations Other comprehensive income (loss) from associates (excluding remeasurements) Total January 1, 2021 ₩ — ( 138,667 ) ( 24,779 ) ( 163,446 ) Change in reserves ( 9,227 ) 705,318 4,497 700,588 December 31, 2021 ( 9,227 ) 566,651 ( 20,282 ) 537,142 January 1, 2022 ( 9,227 ) 566,651 ( 20,282 ) 537,142 Change in reserves 9,227 ( 57,031 ) ( 9,710 ) ( 57,514 ) December 31, 2022 — 509,620 ( 29,992 ) 479,628 January 1, 2023 — 509,620 ( 29,992 ) 479,628 Change in reserves — 39,172 ( 2,824 ) 36,348 December 31, 2023 ₩ — 548,792 ( 32,816 ) 515,976 |
Geographic and Other Informatio
Geographic and Other Information | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Geographic and Other Information | 17. Geographic and Other Information The following is a summary of the Group’s operation by region based on the location of customers for the years ended December 31, 2021, 2022 and 2023. (a) Revenue by geography (In millions of won) 2021 2022(*) 2023 Domestic ₩ 632,531 678,246 633,529 Foreign China 19,866,707 17,434,407 14,704,357 Asia (excluding China) 3,256,126 2,796,648 2,397,980 Americas 3,263,055 3,078,924 2,079,628 Europe (excluding Poland) 1,159,669 988,566 613,924 Poland 1,699,955 1,387,946 901,401 ₩ 29,245,512 25,686,491 20,697,290 ₩ 29,878,043 26,364,737 21,330,819 (*) Revenue for 2022 excludes W 212,956 million of forward exchange hedging loss which was reclassified from accumulated other comprehensive income to revenue when the sales from the hedged forecast transactions are recognized. Sales to Company A and Company B amount to W 11,119,769 million and W 3,371,229 million, respectively, for the year ended December 31, 2023 (2021: W 12,019,534 million and W 5,924,262 million, 2022: W 11,731,702 million and W 4,699,282 million, respectively). The Group’s top ten end-brand customers together accounted for 87 % of sales for the year ended December 31, 2023 (2021: 86 %, 2022: 86 %). 17. Geographic and Other Information, Continued (b) Non-current assets by geography (In millions of won) December 31, 2022 December 31, 2023 Property, plant and equipment Intangible Investment Property Property, plant and equipment Intangible Investment Property Domestic ₩ 14,042,794 1,633,866 28,269 13,583,136 1,683,116 32,995 Foreign China 4,302,527 53,388 — 3,358,395 32,009 — Vietnam 2,590,438 20,315 — 3,244,729 31,472 — Others 11,174 45,388 — 14,072 27,358 — ₩ 6,904,139 119,091 — 6,617,196 90,839 — ₩ 20,946,933 1,752,957 28,269 20,200,332 1,773,955 32,995 (c) Revenue by product and services (In millions of won) 2021 2022(*) 2023 TV ₩ 9,466,192 6,975,269 4,331,474 IT 12,458,740 11,197,954 7,853,034 Mobile and others 7,953,111 8,191,514 9,146,311 ₩ 29,878,043 26,364,737 21,330,819 (*) Revenue for 2022 excludes W 212,956 million of forward exchange hedging loss which was reclassified from accumulated other comprehensive income to revenue when the sales from the hedged forecast transactions are recognized. The proportion of revenue from OLED products to total revenue disclosed above was 36 %, 40 % and 48 % for the years ended December 31, 2021, 2022 and 2023, respectively. |
The Nature of Expenses and Othe
The Nature of Expenses and Others | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
The Nature of Expenses and Others | 18. The Nature of Expenses and Others The classification of expenses by nature for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 2022 2023 Changes in inventories ₩ ( 1,179,232 ) 477,457 345,190 Purchases of raw materials, merchandise 15,207,659 13,521,132 10,810,985 Depreciation and amortization 4,500,701 4,557,457 4,213,742 Outsourcing 776,755 1,096,681 922,565 Labor 3,795,943 3,669,275 3,439,608 Supplies and others 1,235,473 1,212,142 938,568 Utility 1,029,953 1,189,105 1,193,025 Fees and commissions 789,885 834,449 704,763 Shipping 345,204 276,253 124,770 Advertising 126,335 108,315 76,404 Warranty 216,873 251,395 101,846 Travel 59,519 66,428 66,201 Taxes and dues 141,131 144,038 129,784 Others 720,467 2,322,067 1,043,238 ₩ 27,766,666 29,726,194 24,110,689 Total expenses consist of cost of sales, selling and administrative expenses, research and development expenses and other expenses, excluding foreign exchange differences. |
Selling and Administrative Expe
Selling and Administrative Expenses | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Selling and Administrative Expenses | 19. Selling and Administrative Expenses Details of selling and administrative expenses for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 2022 2023 Salaries ₩ 387,414 354,709 372,966 Expenses related to defined benefit plans 22,859 26,872 24,822 Other employee benefits 86,757 91,396 86,692 Shipping 298,684 213,613 91,960 Fees and commissions 248,478 272,337 253,495 Depreciation 267,042 263,739 264,982 Taxes and dues 74,542 69,851 65,528 Advertising 126,335 108,315 76,404 Warranty 216,873 251,395 101,846 Insurance 16,654 15,100 13,610 Travel 6,935 17,912 18,421 Training 15,556 15,458 9,775 Others 84,323 126,022 95,186 ₩ 1,852,452 1,826,719 1,475,687 |
Personnel Expenses
Personnel Expenses | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Personnel Expenses | 20. Personnel Expenses Details of personnel expenses for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 2022 2023 Salaries and wages ₩ 3,138,798 2,975,325 2,850,927 Other employee benefits 589,598 652,915 613,072 Contributions to National Pension plan 68,962 77,062 81,625 Expenses related to defined benefit plans 144,739 169,362 158,756 ₩ 3,942,097 3,874,664 3,704,380 |
Other Income and Other Expenses
Other Income and Other Expenses | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Other Income and Other Expenses | 21. Other Income and Other Expenses (a) Details of other income for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 2022 2023 Foreign currency gain ₩ 1,210,689 3,098,553 1,398,181 Gain on disposal of property, plant and 19,367 25,737 34,961 Gain on disposal of intangible assets 196 — 1,989 Reversal of impairment loss on property, plant 1,121 3,181 7 Reversal of impairment loss on intangible assets 1,152 1,975 242 Rental income 1,978 2,806 2,271 Others 17,632 53,585 34,607 ₩ 1,252,135 3,185,837 1,472,258 (b) Details of other expenses for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 2022 2023 Foreign currency loss ₩ 1,161,628 2,957,048 1,516,528 Loss on disposal of property, plant and 64,350 54,432 102,453 Impairment loss on property, plant and 19,085 1,260,436 60,072 Loss on disposal of intangible assets — 193 55 Impairment loss on intangible assets 29,488 136,372 54,833 Impairment loss on investments — 7,736 — Others 6,308 30,197 52,293 ₩ 1,280,859 4,446,414 1,786,234 |
Finance Income and Finance Cost
Finance Income and Finance Costs | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Finance Income and Finance Costs | 22. Finance Income and Finance Costs (a) Finance income and costs recognized in profit or loss for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 2022 2023 Finance income Interest income ₩ 88,888 85,624 134,664 Foreign currency gain 81,600 308,665 560,633 Gain on disposal of investments in equity — 2,993 2,994 Reversal of impairment loss on investments in 4,701 613 — Gain on transaction of derivatives 9,393 49,503 178,610 Gain on valuation of derivatives 234,742 193,570 239,973 Gain on disposal of financial assets at fair value — 173 132 Gain on valuation of financial assets at fair value 6,511 11,678 5,288 Gain on valuation of financial liabilities at fair — 220,240 — ₩ 425,835 873,059 1,122,294 Finance costs Interest expense ₩ 434,089 414,521 723,429 Foreign currency loss 381,132 440,604 512,456 Loss on disposal of investments in equity — 80 37 Impairment loss on investments in equity 2,609 — 6,808 Loss on repayment of borrowings and bonds 250 2,672 167 Loss on sale of trade accounts and notes receivable 4,877 37,087 48,600 Loss on transaction of derivatives 1,049 359 — Loss on valuation of derivatives 21,795 65,585 316,467 Loss on valuation of financial assets at fair value 704 5,205 18,562 Loss on valuation of financial liabilities at fair 68,421 — — Others 1,688 250 8,008 ₩ 916,614 966,363 1,634,534 |
Income Tax Expense (Benefit)
Income Tax Expense (Benefit) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Income Tax Expense (Benefit) | 23. Income Tax Expense (Benefit) (a) Details of income tax expense (benefit) for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 2022 2023 Current tax expense (benefit) Current year ₩ 199,591 206,465 260,556 Adjustment for prior years 163,570 ( 59,484 ) ( 67,985 ) ₩ 363,161 146,981 192,571 Deferred tax expense (benefit) Origination and reversal of temporary differences ₩ 60,233 ( 842,529 ) ( 1,112,066 ) Change in unrecognized deferred tax assets(*) ( 38,053 ) 457,763 156,783 ₩ 22,180 ( 384,766 ) ( 955,283 ) Income tax expense (benefit) ₩ 385,341 ( 237,785 ) ( 762,712 ) (*) Due to the impact of the changes in estimates of future taxable income, change in unrecognized deferred tax assets consist of effect from reducing deferred tax assets in relation to tax credit carryforwards. 23. Income Tax Expense (Benefit), Continued (b) Income taxes recognized directly in other comprehensive income or loss for the years ended December 31, 2021, 2022, and 2023 are as follows: (In millions of won) 2021 Before tax Tax benefit Net of tax Remeasurements of net defined benefit liabilities ₩ ( 220,801 ) 57,438 ( 163,363 ) Gain (loss) on valuation of derivatives ( 12,495 ) 3,268 ( 9,227 ) Foreign currency translation differences for foreign 871,292 ( 1,503 ) 869,789 Change in equity of equity method investee 6,364 ( 1,951 ) 4,413 ₩ 644,360 57,252 701,612 (In millions of won) 2022 Before tax Tax benefit Net of tax Remeasurements of net defined benefit liabilities ₩ 165,864 ( 43,503 ) 122,361 Gain (loss) on valuation of derivatives 12,495 ( 3,268 ) 9,227 Foreign currency translation differences for foreign ( 80,718 ) ( 245 ) ( 80,963 ) Change in equity of equity method investee ( 11,603 ) 1,925 ( 9,678 ) ₩ 86,038 ( 45,091 ) 40,947 (In millions of won) 2023 Before tax Tax benefit Net of tax Remeasurements of net defined benefit liabilities ₩ 64,635 ( 14,818 ) 49,817 Foreign currency translation differences for foreign 43,572 ( 20,429 ) 23,143 Change in equity of equity method investee ( 2,679 ) 25 ( 2,654 ) ₩ 105,528 ( 35,222 ) 70,306 23. Income Tax Expense (Benefit), Continued (c) Reconciliation of the actual effective tax rate for the years ended December 31, 2021, 2022, and 2023 are as follows: (In millions of won) 2021 2022 2023 Profit (loss) for the year ₩ 1,333,544 ( 3,195,585 ) ( 2,576,729 ) Income tax expense 385,341 ( 237,785 ) ( 762,712 ) Profit (loss) before ₩ 1,718,885 ( 3,433,370 ) ( 3,339,441 ) Income tax expense 30.37 % 521,954 21.51 % ( 738,403 ) 23.65 % ( 789,941 ) Non-deductible expenses 1.01 % 17,354 ( 0.55 %) 18,742 ( 0.59 %) 19,759 Tax credits ( 3.28 %) ( 56,439 ) 4.23 % ( 145,189 ) 6.22 % ( 207,745 ) Change in unrecognized ( 2.21 %) ( 38,053 ) ( 13.33 %) 457,763 ( 4.69 %) 156,783 Adjustment for prior ( 0.49 %) ( 8,349 ) 0.06 % ( 2,072 ) 0.32 % ( 10,726 ) Effect on change in ( 2.29 %) ( 39,338 ) ( 4.90 %) 168,372 ( 1.80 %) 60,134 Others ( 0.69 %) ( 11,788 ) ( 0.09 %) 3,002 ( 0.27 %) 9,024 Income tax expense ₩ 385,341 ( 237,785 ) ( 762,712 ) Effective tax rate 22.42 % (*3) (*3) (*1) Due to the impact of the changes in estimates of future taxable income, change in unrecognized deferred tax assets consist of effect from reducing deferred tax assets in relation to tax credit carry forwards. (*2) Adjustment for prior years consists of expected amount adjusted for transfer price investigation for prior periods and others. (*3) Actual effective tax rate is not calculated due to income tax benefit. (d) Global Minimum Tax The Organization for Economic Cooperation and Development implemented the Base Erosion and Profit Shifting (BEPS) 2.0 framework, which imposes a minimum tax for multinational enterprise groups with total consolidated group revenue of EUR 750 million or more in at least two of the four preceding years. Under the model rules, the above mentioned entities would be required to pay a top-up tax on excess profits in any jurisdiction in which the global anti-base erosion effective tax rate for the jurisdiction is below a 15% minimum rate. The top-up tax is paid to the tax authority of the country where the controlling company that meets certain requirements is located. However, since the newly enacted tax legislation in Korea is effective from January 1, 2024, there is no current tax impact for the year ended December 31, 2023. As of December 31, 2023, the Group’s consolidated revenues exceeds EUR 750 million for each of the last two consecutive financial years. For 2024, management does not expect any of the countries where the subsidiaries are located will have a statutory tax rate of below 15%. 23. Income Tax Expense (Benefit), Continued (d) Global Minimum Tax, continued LG Display Vietnam Haiphong Co., Ltd., a subsidiary located in Vietnam, is eligible for additional tax credits that reduce its effective tax rate to below 15%, but it is not expected to be subject to the global minimum tax if the government support is a Qualified Refundable Tax Credit (QRTC). |
Deferred Tax Assets and Liabili
Deferred Tax Assets and Liabilities | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Deferred Tax Assets and Liabilities | 24. Deferred Tax Assets and Liabilities (a) Unrecognized deferred tax liabilities As of December 31, 2023, in relation to the taxable temporary differences on investments in subsidiaries amounting to W 523,448 million, the Controlling Company did not recognize deferred tax liabilities since the Controlling Company is able to control the timing of the reversal of the temporary difference and it is probable that the temporary differences will not reverse in the foreseeable future. (b) Unused tax credit carryforwards for which no deferred tax asset is recognized As of December 31, 2023, the amount of unused tax credit carryforwards for which no deferred tax asset is recognized and their expiration dates are as follows: (In millions of won) Total December 31, 2025 December 31, 2026 December 31, 2027 December 31, 2028 December 31, 2029 December 31, 2030 December 31, 2031 December 31, 2032 December 31, 2033 Tax credit ₩ 869,364 7,302 18,476 114,435 90,124 99,937 60,401 79,543 159,552 239,594 24. Deferred Tax Assets and Liabilities, Continued (c) Deferred tax assets and liabilities Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized. The book value of the Group's deferred income tax assets and liabilities may differ from the amounts actually recovered or settled. Deferred tax assets and liabilities are attributable to the following: (In millions of won) Assets Liabilities Total December 31, 2022 December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2022 December 31, 2023 Other accounts ₩ — — ( 2,009 ) ( 61 ) ( 2,009 ) ( 61 ) Inventories, net 62,014 51,728 — — 62,014 51,728 Defined benefit — — ( 95,850 ) ( 89,753 ) ( 95,850 ) ( 89,753 ) Investments in — — ( 252,375 ) ( 89,649 ) ( 252,375 ) ( 89,649 ) Accrued expenses 111,293 97,867 — — 111,293 97,867 Property, plant and 704,117 609,345 ( 17,322 ) ( 43,282 ) 686,795 566,063 Intangible assets 25,340 13,314 ( 4,042 ) ( 2,069 ) 21,298 11,245 Provisions 57,210 39,586 — — 57,210 39,586 Other temporary 112,771 70,182 ( 26,519 ) ( 11,451 ) 86,252 58,731 Tax loss 1,795,132 2,766,820 — — 1,795,132 2,766,820 Tax credit 170,971 148,215 — — 170,971 148,215 Deferred tax assets ₩ 3,038,848 3,797,057 ( 398,117 ) ( 236,265 ) 2,640,731 3,560,792 Realization of deferred tax assets related to unused tax losses and tax credit carryforwards which are primarily related to Korea is affected by estimates in future taxable profits before they expire. The estimation uncertainty is primarily driven by the Group’s assumptions in revenue and operating expenditures. 24. Deferred Tax Assets and Liabilities, Continued (d) Changes in deferred tax assets and liabilities for the years ended December 31, 2022 and 2023 are as follows: (In millions of won) January 1, 2022 Profit or loss Other comprehensive Income(loss) December 31, 2022 Profit or loss Other comprehensive loss December 31, 2023 Other accounts ₩ ( 17 ) ( 1,992 ) — ( 2,009 ) 1,948 — ( 61 ) Inventories, net 68,679 ( 6,665 ) — 62,014 ( 10,286 ) — 51,728 Defined benefit ( 26,642 ) ( 25,705 ) ( 43,503 ) ( 95,850 ) 20,915 ( 14,818 ) ( 89,753 ) Subsidiaries and ( 233,552 ) ( 20,503 ) 1,680 ( 252,375 ) 183,130 ( 20,404 ) ( 89,649 ) Accrued expenses 250,582 ( 139,289 ) — 111,293 ( 13,426 ) — 97,867 Property, plant and 603,492 83,303 — 686,795 ( 120,732 ) — 566,063 Intangible assets 10,814 10,484 — 21,298 ( 10,053 ) — 11,245 Provisions 68,893 ( 11,683 ) — 57,210 ( 17,624 ) — 39,586 Other temporary 110,678 ( 21,158 ) ( 3,268 ) 86,252 ( 27,521 ) — 58,731 Tax loss 958,624 836,508 — 1,795,132 971,688 — 2,766,820 Tax credit 489,505 ( 318,534 ) — 170,971 ( 22,756 ) — 148,215 Deferred tax assets ₩ 2,301,056 384,766 ( 45,091 ) 2,640,731 955,283 ( 35,222 ) 3,560,792 |
Earnings (Loss) per Share Attri
Earnings (Loss) per Share Attributable to Owners of the Controlling Company | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Earnings (Loss) per Share Attributable to Owners of the Controlling Company | 25. Earnings (Loss) per Share Attributable to Owners of the Controlling Company (a) Basic earnings (loss) per share for the years ended December 31, 2021, 2022 and 2023 are as follows: (In won and number of shares) 2021 2022 2023 Profit (loss) attributable to owners of the ₩ 1,186,182,126,952 ( 3,071,564,667,651 ) ( 2,733,741,837,803 ) Weighted-average number of common stocks 357,815,700 357,815,700 357,815,700 Basic earnings (loss) per share ₩ 3,315 ( 8,584 ) ( 7,640 ) For the years ended December 31, 2021, 2022 and 2023 there were no events or transactions that resulted in changes in the number of common stocks used for calculating basic earnings (loss) per share. On March 15, 2024, the Controlling Company issued 142,184,300 new shares of common stock, with the total issuance amount of W 1,292,455 million at the price of W 9,090 per share. (see Note 31). (b) Diluted earnings per share for the year ended December 31, 2021 are determined as follows: (In won and number of shares) 2021 Profit attributable to owners of the Controlling Company ₩ 1,186,182,126,952 Adjustments: Interest expenses of convertible bond, net of income tax 11,382,390,353 Loss on fair value valuation of convertible bond, net of income tax 50,521,798,972 Diluted profit attributable to owners of the Controlling Company ₩ 1,248,086,316,277 Weighted-average number of common stocks outstanding, after adjustment 398,804,698 Diluted earnings per share ₩ 3,130 Weighted-average number of common stocks outstanding, after adjustment, for measurement of diluted earnings per share is determined as follows: (Number of shares) 2021 Weighted-average number of common stocks outstanding 357,815,700 Adjustment : Number of common stocks to be issued from conversion 40,988,998 Weighted-average number of common stocks outstanding, after adjustment 398,804,698 Diluted loss per share is not different from basic loss per share as there are no dilution effects of potential common stocks for the years ended December 31, 2022 and 2023. |
Financial Risk Management
Financial Risk Management | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Financial Risk Management | 26. Financial Risk Management The Group is exposed to credit risk, liquidity risk and market risks. The Group identifies and analyzes such risks, and controls are implemented under a risk management system to monitor and manage these risks at below an acceptable level. (a) Market risk Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and equity prices, will affect the Group’s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimizing the return. (i) Currency risk The Group is exposed to currency risk on sales, purchases and borrowings that are denominated in a currency other than the functional currency of the Controlling Company, Korean won (KRW). The currencies in which these transactions primarily are denominated are USD, CNY, JPY, etc. Interest on borrowings is accrued in the currency of the borrowing. Generally, borrowings are denominated in currencies that match the cash flows generated by the underlying operations of the Group, primarily KRW, USD and CNY. The Group adopts policies to ensure that its net exposure is kept to a manageable level by buying or selling foreign currencies at spot rates when necessary to address short-term imbalances. In respect of monetary assets and liabilities denominated in foreign currencies, the Group manages currency risk through continuously managing the position of foreign currencies, measuring the currency risk and, if necessary, using derivatives such as currency forwards, currency swap and others. i) Exposure to currency risk The Group’s exposure to foreign currency risk based on notional amounts as of December 31, 2022 and 2023 are as follows: (In millions) December 31, 2022 USD JPY CNY TWD EUR PLN VND Cash and cash equivalents 1,040 228 1,984 25 1 1 151,912 Deposits in banks 69 — 8,888 — — — — Trade accounts and notes 1,725 103 703 — — — — Other accounts receivables 26 114 253 10 21 — 15,800 Other assets denominated in foreign 30 191 82 7 — — 11,353 Trade accounts and notes payable ( 1,824 ) ( 4,987 ) ( 1,306 ) — — — ( 478,926 ) Other accounts payable ( 565 ) ( 19,084 ) ( 1,711 ) ( 8 ) ( 10 ) — ( 2,681,508 ) Financial liabilities ( 4,846 ) — ( 20,569 ) — — — — ( 4,345 ) ( 23,435 ) ( 11,676 ) 34 12 1 ( 2,981,369 ) Cross currency interest rate swap 2,430 — — — — — — Net exposure ( 1,915 ) ( 23,435 ) ( 11,676 ) 34 12 1 ( 2,981,369 ) (*) Of cross currency interest rate swap contracts, USD 700 million were entered into to hedge currency risk with respect to foreign currency denominated borrowings and USD 1,730 million were entered into to hedge currency risk and interest rate risk with respect to foreign currency denominated borrowings and bonds. 26. Financial Risk Management, Continued (In millions) December 31, 2023 USD JPY CNY TWD EUR PLN VND Cash and cash equivalents 1,074 654 1,695 38 2 1 226,342 Deposits in banks — — 7,411 — — — — Trade accounts and notes 2,442 — 430 — ( 2 ) — — Other accounts receivables 6 186 294 20 — — 13,969 Other assets denominated in foreign 23 188 34 7 — — 13,146 Trade accounts and notes payable ( 1,721 ) ( 9,837 ) ( 1,765 ) — 2 — ( 740,674 ) Other accounts payable ( 545 ) ( 14,589 ) ( 2,151 ) ( 6 ) ( 5 ) — ( 1,309,118 ) Financial liabilities ( 4,068 ) — ( 25,336 ) — — — — Advances received ( 1,200 ) — — — — — — ( 3,989 ) ( 23,398 ) ( 19,388 ) 59 ( 3 ) 1 ( 1,796,335 ) Cross currency interest rate swap 1,930 — 345 — — — — Forward exchange 1,200 — — — — — — Net exposure ( 859 ) ( 23,398 ) ( 19,043 ) 59 ( 3 ) 1 ( 1,796,335 ) (*1) Of cross currency interest rate swap contracts, USD 500 million and CNY 345 million were entered into to hedge currency risk with respect to foreign currency denominated borrowings and USD 1,430 million were entered into to hedge currency risk and interest rate risk with respect to foreign currency denominated borrowings and bonds. (*2) Represents forward exchange contracts entered into by the Group to hedge exchange rate risks with respect to advances received in foreign currency. The contracts are designated as hedging instruments. Average exchange rates applied for the years ended December 31, 2021, 2022 and 2023 and the exchange rates at December 31, 2022 and 2023 are as follows: (In won) Average rate (year-to-date) Reporting date spot rate 2021 2022 2023 December 31, 2022 December 31, 2023 USD ₩ 1,144.10 1,291.15 1,306.12 1,267.30 1,289.40 JPY 10.42 9.85 9.32 9.53 9.13 CNY 177.36 191.60 184.28 181.44 180.84 TWD 40.99 43.36 41.94 41.27 41.98 EUR 1,353.25 1,357.29 1,412.67 1,351.20 1,426.59 PLN 296.51 289.78 311.36 288.70 329.11 VND 0.0499 0.0551 0.0548 0.0537 0.0532 26. Financial Risk Management, Continued ii) Sensitivity analysis A weaker won, as indicated below, against the following currencies which comprise the Group’s assets or liabilities denominated in a foreign currency as of December 31, 2022 and 2023, would have increased (decreased) equity and profit or loss by the amounts shown below. This analysis is based on foreign currency exchange rate variances that the Group considers to be reasonably possible at the end of the reporting period. The analysis assumes that all other variables, in particular interest rates, would remain constant. The changes in equity and profit or loss would have been as follows: (In millions of won) December 31, 2022 December 31, 2023 Equity Profit or loss Equity Profit or loss USD (5 percent weakening) ₩ ( 114,317 ) ( 23,215 ) ( 68,615 ) 44,361 JPY (5 percent weakening) ( 8,614 ) ( 8,541 ) ( 8,160 ) ( 8,480 ) CNY (5 percent weakening) ( 105,926 ) ( 5 ) ( 172,198 ) ( 2 ) TWD (5 percent weakening) 68 3 122 9 EUR (5 percent weakening) 896 ( 281 ) ( 208 ) ( 52 ) PLN (5 percent weakening) 11 11 8 8 VND (5 percent weakening) ( 6,161 ) ( 6,161 ) ( 3,683 ) ( 3,683 ) A stronger won against the above currencies as of December 31, 2022 and 2023 would have had the equal but opposite effect on the above currencies to the amounts shown above, on the basis that all other variables remain constant. iii) Fair value hedging derivatives In relation to advances received that are denominated in foreign currencies, the Controlling Company uses derivative instruments to hedge change of fair value due to foreign currency exchange rate changes. As of December 31, 2023, there is no ineffective portion of the gain or loss on valuation of derivatives to which change of fair value hedging accounting has been applied and loss on valuation amounting to W 36,052 million, respectively, (contracted buying amount: USD 1,200 million, contracted exchange rate: W 1,289.11 ~ 1,310.08 ) are recognized in profit or loss. (ii) Interest rate risk Interest rate risk arises principally from the Group’s variable interest-bearing bonds and borrowings. The Group establishes and applies its policy to reduce uncertainty arising from fluctuations in interest rates and to minimize finance cost and manages interest rate risk by monitoring of trends of fluctuations in interest rate and establishing plan for countermeasures. Meanwhile, the Group entered into cross currency interest rate swap contracts amounting to USD 1,430 million ( W 1,843,842 million) and interest rate swap contracts amounting to W 980,00 0 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 December 31, 2022 and 2023 is as follows: (In millions of won) December 31, 2022 December 31, 2023 Fixed rate instruments Financial assets ₩ 3,547,256 3,163,490 Financial liabilities ( 6,025,365 ) ( 6,333,238 ) ₩ ( 2,478,109 ) ( 3,169,748 ) Variable rate instruments Financial liabilities ₩ ( 8,966,045 ) ( 10,195,891 ) 26. Financial Risk Management, Continued ii) Equity and profit or loss sensitivity analysis for variable rate instruments As of December 31, 2022 and 2023, a change of 100 basis points in interest rates at the reporting date would have increased (decreased) equity and profit or loss by the amounts shown below for the respective following 12 month periods. This analysis assumes that all other variables, in particular foreign currency rates, remain constant. (In millions of won) Equity Profit or loss 1 %p 1 %p 1 %p 1 %p December 31, 2022 Variable rate instruments (*) ₩ ( 49,885 ) 49,885 ( 49,885 ) 49,885 December 31, 2023 Variable rate instruments (*) ₩ ( 56,829 ) 56,829 ( 56,829 ) 56,829 (*) Financial instruments related to non-hedging interest rate swap are excluded from the calculation. (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 December 31, 2022 and 2023 are as follows: (In millions of won) December 31, 2022 December 31, 2023 Financial assets carried at amortized cost Cash equivalents ₩ 1,823,573 2,257,519 Deposits in banks 1,722,618 905,982 Trade accounts and notes receivable, net 2,358,914 3,218,093 Non-trade receivables 146,921 112,739 Accrued income 22,505 14,246 Deposits 26,586 18,378 Loans 88,868 59,884 Lease receivables 11,058 4,130 ₩ 6,201,043 6,590,971 Financial assets at fair value through profit or loss Convertible securities ₩ 1,797 3,127 Derivatives 230,080 169,703 ₩ 231,877 172,830 ₩ 6,432,920 6,763,801 Trade accounts and notes receivable are insured in order for the Group to manage credit risk if they do not meet the Group’s internal credit ratings. Uninsured trade accounts and notes receivable are managed by continuous monitoring of internal credit rating standards established by the Group and seeking insurance coverage, if necessary. 26. Financial Risk Management, Continued (c) Liquidity risk Liquidity risk is the risk that the Group will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or other financial assets. The Group’s approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Group’s reputation. The Group has historically been able to satisfy its cash requirements from cash flows from operations and debt and equity financing. To the extent that the Group does not generate sufficient cash flows from operations to meet its capital requirements, the Group may rely on other financing activities, such as external long-term borrowings and offerings of debt instruments, equity-linked and other debt instruments, 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 December 31, 2022 and 2023. 2022 (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 ₩ 13,542,664 14,674,463 4,329,345 1,266,247 3,135,925 5,591,303 351,643 Bonds 1,448,746 1,570,630 338,815 16,956 400,764 727,752 86,343 Trade accounts and notes payable 4,061,684 4,061,684 3,523,098 538,586 — — — Other accounts payable 2,307,190 2,309,929 2,231,832 78,097 — — — Other accounts payable (enterprise 935,739 935,739 935,739 — — — — Long-term other accounts payable 435,232 508,194 — — 103,450 245,064 159,680 Security deposits received 146,788 191,735 — 2,262 8,463 181,010 — Lease liabilities 72,788 77,803 26,733 16,995 18,552 10,743 4,780 Derivative financial liabilities Derivatives ₩ 47,408 29,418 ( 1,637 ) 10,741 3,024 17,290 — ₩ 22,998,239 24,359,595 11,383,925 1,929,884 3,670,178 6,773,162 602,446 26. Financial Risk Management, Continued (*) Represents liabilities payable to credit card companies for utility expenses and others paid using enterprise procurement cards. The Group presented the payable to credit card companies as other accounts payable and disclosed related cash flows as operating activities since the Group is using the enterprise procurement cards through agreements with suppliers for transactions arising from purchasing of goods and services, the payment term is within a year from the purchase, as part of the normal operating cycle, and no security is provided. Change in liabilities related to procurement cards for the year ended December 31, 2022 is as follows: (In millions of won) January 1, 2022 Change December 31, 2022 Other accounts payable (enterprise procurement cards) ₩ 1,074,089 ( 138,350 ) 935,739 2023 (In millions of won) Contractual cash flows in Carrying amount Total 6 months or less 6-12 months 1-2 years 2-5 years More than 5 years Non-derivative financial liabilities Borrowings ₩ 15,040,986 16,309,036 3,534,173 1,900,982 6,231,118 4,397,095 245,668 Bonds 1,488,143 1,597,741 111,169 319,011 642,996 524,565 — Trade accounts and notes payable 4,175,064 4,175,064 3,969,497 205,567 — — — Other accounts payable 1,826,723 1,829,539 1,750,080 79,459 — — — Other accounts payable 1,092,180 1,092,180 938,899 153,281 — — — Long-term other accounts payable 357,907 413,255 — — 129,587 175,358 108,310 Security deposits received 153,370 190,329 3,120 4,597 1,047 181,565 — Lease liabilities 73,364 77,246 29,980 21,335 11,848 11,461 2,622 Derivative financial liabilities Derivatives ₩ 63,526 45,705 18,781 3,988 12,474 10,462 — Derivatives for fair value hedge 36,052 36,052 1,514 5,878 20,282 8,378 — ₩ 24,307,315 25,766,147 10,357,213 2,694,098 7,049,352 5,308,884 356,600 26. Financial Risk Management, Continued (*) Represents liabilities payable to credit card companies for purchase of raw material expenses and others paid using enterprise procurement cards. The Group presented the payable to credit card companies as other accounts payable and disclosed related cash flows as operating activities since the Group is using the enterprise procurement cards through agreements with suppliers for transactions arising from purchasing of goods and services, the payment term is within a year from the purchase, as part of the normal operating cycle, and no security is provided. Change in liabilities related to procurement cards for the year ended December 31, 2023 is as follows: (In millions of won) January 1, 2023 Change December 31, 2023 Other accounts payable (enterprise procurement cards) ₩ 935,739 156,441 1,092,180 It is not expected that the cash flows included in the maturity analysis could occur significantly earlier, or at significantly different amounts. (d) Capital management Management’s policy is to maintain a capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business. Liabilities to equity ratio, net borrowings to equity ratio and other financial ratios are used by management to achieve an optimal capital structure. Management also monitors the return on capital as well as the level of dividends to ordinary shareholders. (In millions of won) December 31, 2022 December 31, 2023 Total liabilities ₩ 24,366,792 26,988,754 Total equity 11,319,227 8,770,544 Cash and deposits in banks(*1) 3,547,256 3,163,493 Borrowings (including bonds) 14,991,410 16,529,129 Total liabilities to equity ratio 215 % 308 % Net borrowings to equity ratio(*2) 101 % 152 % (*1) Cash and deposits in banks consist of cash and cash equivalents and current deposits in banks. (*2) Net borrowings to equity ratio is calculated by dividing total borrowings (including bonds and excluding lease liabilities and others) less cash and current deposits in banks by total equity. 26. Financial Risk Management, Continued (e) Determination of fair value (i) Measurement of fair value A number of the Group’s accounting policies and disclosures require the determination of fair value, for both financial and non-financial assets and liabilities. Fair values have been determined for measurement and/or disclosure purposes based on the following methods. When applicable, further information about the assumptions made in determining fair values is disclosed in the notes specific to that asset or liability. i) Current assets and liabilities The carrying amounts approximate their fair value because of the short maturity of these instruments. ii) Trade receivables and other receivables The fair value of trade and other receivables is estimated as the present value of future cash flows, discounted at the market rate of interest at the reporting date. This fair value is determined for disclosure purposes. The carrying amounts of current receivables approximate their fair value. iii) Investments in equity and debt securities The fair value of marketable financial assets at FVTPL and FVOCI is determined by reference to their quoted closing bid price at the reporting date. The fair value of non-marketable instruments is determined using the results of fair value assessment performed by external valuation institutions and others. iv) Non-derivative financial liabilities Fair value, which is determined for disclosure purposes, except for the liabilities at FVTPL, is calculated based on the present value of future principal and interest cash flows, discounted at the market rate of interest at the reporting date. v) Derivatives The inputs used to measure the fair value of currency forward and cross currency interest rate swap are calculated based on the exchange rates and interest rates observable in the market at the reporting date. 26. Financial Risk Management, Continued (ii) Fair values versus carrying amounts The fair values of financial assets and liabilities, together with the carrying amounts shown in the consolidated statements of financial position as of December 31, 2022 and 2023 are as follows: (In millions of won) December 31, 2022 December 31, 2023 Carrying amounts Fair values Carrying amounts Fair values Financial assets carried at amortized cost Cash and cash equivalents ₩ 1,824,649 (*) 2,257,522 (*) Deposits in banks 1,722,618 (*) 905,982 (*) Trade accounts and notes receivable 2,358,914 (*) 3,218,093 (*) Non-trade receivables 146,921 (*) 112,739 (*) Accrued income 22,505 (*) 14,246 (*) Deposits 26,586 (*) 18,378 (*) Loans 88,868 (*) 59,884 (*) Lease receivables 11,058 (*) 4,130 (*) Financial assets at fair value through profit or loss Equity instruments ₩ 96,064 96,064 87,027 87,027 Convertible securities 1,797 1,797 3,127 3,127 Derivatives 230,080 230,080 169,703 169,703 Financial liabilities at fair value through profit or Derivatives ₩ 47,408 47,408 63,526 63,526 Financial liabilities effective for fair value hedging Derivatives ₩ — — 36,052 36,052 Financial liabilities carried at amortized cost Borrowings ₩ 13,542,664 13,521,494 15,040,986 15,101,258 Bonds 1,448,746 1,377,696 1,488,143 1,479,725 Trade accounts and notes payable 4,061,684 (*) 4,175,064 (*) Other accounts payable 3,678,161 (*) 3,276,810 (*) Security deposits received 146,788 (*) 153,370 (*) Lease liabilities 72,788 (*) 73,364 (*) (*) Excluded from disclosures as the carrying amount approximates fair value. 26. Financial Risk Management, Continued (iii) Fair values of financial assets and liabilities i) Fair value hierarchy Financial instruments carried at fair value are categorized into different levels in a fair value hierarchy based on the inputs used in the valuation techniques. The different levels have been defined as follows: ▪ Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities ▪ Level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly ▪ Level 3: inputs for the asset or liability that are not based on observable market data ii) Valuation techniques and inputs for Assets and Liabilities measured by the fair value hierarchy (In millions of won) December 31, 2022 Classification Level 1 Level 2 Level 3 Valuation technique Input Financial assets at fair value through Equity instruments ₩ — — 96,064 Discounted cash flow, etc. Discount rate and Estimated cash flow, etc. Convertible securities — — 1,797 Blended discount model and binominal option pricing model Discount rate, stock price and volatility Derivatives — 230,080 — Discounted cash flow Discount rate and Exchange rate Financial liabilities at fair value Derivatives ₩ — 47,408 — Discounted cash flow Discount rate and Exchange rate 26. Financial Risk Management, Continued (In millions of won) December 31, 2023 Level 1 Level 2 Level 3 Valuation technique Input Financial assets at fair value through Equity instruments ₩ — — 87,027 Discounted cash flow, etc. Discount rate and Estimated cash flow, etc. Convertible securities — — 3,127 Blended discount model and binominal option pricing model Discount rate, stock price and volatility Derivatives — 169,703 — Discounted cash flow Discount rate and Exchange rate Financial liabilities at fair value Derivatives ₩ — 63,526 — Discounted cash flow Discount rate and Exchange rate Financial liabilities effective for Derivatives ₩ — 36,052 — Discounted cash flow Discount rate and Exchange rate 26. 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 December 31, 2022 and December 31, 2023 are as follows: (In millions of won) December 31, 2022 Classification Level 1 Level 2 Level 3 Valuation technique Input Liabilities Borrowings ₩ — — 13,521,494 Discounted cash flow Discount rate Bonds — — 1,377,696 Discounted cash flow Discount rate (In millions of won) December 31, 2023 Classification Level 1 Level 2 Level 3 Valuation technique Input Liabilities Borrowings ₩ — — 15,101,258 Discounted cash flow Discount rate Bonds — — 1,479,725 Discounted cash flow Discount rate iv) The interest rates applied for determination of the above fair value as of December 31, 2022 and 2023 are as follows: December 31, 2022 December 31, 2023 Borrowings, bonds and others 5.11 ~ 6.68 % 4.60 ~ 5.02 % 26. Financial Risk Management, Continued v) There is no transfer between Level 1, Level 2 and Level 3 for the years ended December 31, 2023, and the changes in financial assets classified as Level 3 of fair value measurements for the years ended December 31, 2022 and 2023 are as follows: (In millions of won) Classification January 1, 2022 Acquisition Disposal Valuation Changes in Foreign Exchange Rates Replacement December 31, 2022 Equity securities ₩ 48,805 27,261 ( 775 ) 6,248 2,720 11,805 96,064 Convertible securities 2,758 — — 224 — ( 1,185 ) 1,797 (In millions of won) Classification January 1, 2023 Acquisition Disposal Valuation Changes in Foreign Exchange Rates December 31, 2023 Equity securities ₩ 96,064 3,286 ( 414 ) ( 13,315 ) 1,406 87,027 Convertible securities 1,797 1,329 — 41 ( 40 ) 3,127 26. Financial Risk Management, Continued (f) Net gains and losses by category of financial instruments The net gains and losses by category of financial instruments as of December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 Financial assets at amortized cost Financial liabilities at amortized cost Financial assets at FVTPL Financial liabilities at FVTPL Other financial instruments (*) Total Interest income ₩ 88,888 - - - - 88,888 Interest expense - ( 418,674 ) - ( 15,415 ) - ( 434,089 ) Foreign currency differences 668,140 ( 848,072 ) - ( 70,249 ) - ( 250,181 ) (Reversal of) Bad debt expense ( 273 ) - - - - ( 273 ) Gain or loss on disposal ( 4,877 ) - ( 1,242 ) - - ( 6,119 ) Gain or loss on valuation - ( 250 ) 5,808 ( 68,421 ) - ( 62,863 ) Gain or loss on derivative - - - - 221,292 221,292 Others - - - ( 14 ) - ( 14 ) ₩ 751,878 ( 1,266,996 ) 4,566 ( 154,099 ) 221,292 ( 443,359 ) (*) Other financial instruments exclude cash flow hedging derivatives. (In millions of won) 2022 Financial assets at amortized cost Financial liabilities at amortized cost Financial assets at FVTPL Financial liabilities at FVTPL Derivatives (*) Total Interest income ₩ 85,624 — — — — 85,624 Interest expense — ( 403,415 ) — ( 11,106 ) — ( 414,521 ) Foreign currency differences 1,061,416 ( 946,650 ) — ( 105,492 ) — 9,274 Reversal of bad debt expense 569 — — — — 569 Gain or loss on disposal ( 37,087 ) — 171 ( 2,672 ) — ( 39,588 ) Gain or loss on valuation — — 6,473 220,240 — 226,713 Gain or loss on derivative — — — — 177,130 177,130 Others — — — ( 43 ) — ( 43 ) ₩ 1,110,522 ( 1,350,065 ) 6,644 100,927 177,130 45,158 (*) Other financial instruments exclude cash flow hedging derivatives. (In millions of won) 2023 Financial assets at amortized cost Financial liabilities at amortized cost Financial assets at FVTPL Financial assets at FVOCI Derivatives Total Interest income ₩ 134,664 — — — — 134,664 Interest expense — ( 723,429 ) — — — ( 723,429 ) Foreign currency differences 108,546 ( 176,376 ) — — ( 36,052 ) ( 103,882 ) Reversal of bad debt expense 181 — — — — 181 Gain or loss on disposal ( 48,600 ) ( 167 ) 132 ( 329 ) — ( 48,964 ) Gain or loss on valuation — — ( 13,274 ) — — ( 13,274 ) Gain or loss on derivative — — — — 102,116 102,116 ₩ 194,791 ( 899,972 ) ( 13,142 ) ( 329 ) 66,064 ( 652,588 ) |
Leases
Leases | 12 Months Ended |
Dec. 31, 2023 | |
Leases [Abstract] | |
Disclosure of leases [text block] | 27. Leases (a) Leases as lessee The Group leases buildings, vehicles, machinery and equipment and others. Information about leases for which the Group is a lessee is presented below. (i) Right-of-use assets Right-of-use assets related to leased properties that do not meet the definition of investment property are presented as property, plant and equipment as of December 31, 2022 and 2023 (see Note 9(a)). Changes in right-of-use assets for the years ended December 31, 2022 and 2023 are as follows: (In millions of won) 2022 Buildings and structures Land Machinery Vehicles Others Total Balance at January 1, 2022 ₩ 56,167 54,417 1,330 7,062 890 119,866 Additions and others 60,515 460 456 11,033 103 72,567 Depreciation ( 63,494 ) ( 3,014 ) ( 1,136 ) ( 8,288 ) ( 438 ) ( 76,370 ) Impairments ( 2,175 ) ( 721 ) ( 3 ) ( 501 ) ( 39 ) ( 3,439 ) Others — ( 420 ) — — — ( 420 ) Gain or loss on foreign currency translation 20 1,082 ( 49 ) ( 804 ) 205 454 Balance at December 31, 2022 ₩ 51,033 51,804 598 8,502 721 112,658 (In millions of won) 2023 Buildings and structures Land Machinery Vehicles Others Total Balance at January 1, 2023 ₩ 51,033 51,804 598 8,502 721 112,658 Additions and others 65,133 — 881 6,698 1,899 74,611 Depreciation ( 56,471 ) ( 2,846 ) ( 770 ) ( 7,482 ) ( 780 ) ( 68,349 ) Gain or loss on foreign currency translation ( 1,749 ) 2,291 5 ( 279 ) 58 326 Balance at December 31, 2023 ₩ 57,946 51,249 714 7,439 1,898 119,246 27. Leases , Continued (ii) Amounts recognized in profit or loss from leases other than leases recorded as right-of-use assets for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 2022 2023 Interest on lease liabilities ₩ ( 3,664 ) ( 3,656 ) ( 3,343 ) Income from sub-leasing right-of-use assets 712 541 276 Expenses relating to short-term leases ( 824 ) ( 785 ) ( 241 ) Expenses relating to leases of low-value assets ( 577 ) ( 632 ) ( 942 ) (iii) Changes in lease liabilities for the years ended December 31, 2022 and 2023 are as follows: (In millions of won) 2022 2023 Balance at January 1 ₩ 84,326 72,788 Additions and others 67,102 70,716 Interest expense 3,656 3,343 Repayment of liabilities ( 82,296 ) ( 73,483 ) Balance at December 31 ₩ 72,788 73,364 (b) Leases as lessor (i) Finance lease During the years ended December 31, 2022 and 2023, the Group recognized interest income on lease receivables of W 533 million and W 276 million, respectively. The following table sets out a maturity analysis of lease receivables, showing the undiscounted lease payments to be received after the reporting date. (In millions of won) December 31, 2022 December 31, 2023 6 months or less ₩ 3,593 3,580 6-12 months 3,593 597 1-2 years 4,191 — 2-5 years — — Total undiscounted lease receivable ₩ 11,377 4,177 Unearned finance income ( 319 ) ( 47 ) Net Investment in the lease ₩ 11,058 4,130 (ii) Operating lease The Group leases out investment property and a portion of property, plant and equipment as operating leases (see Note 9 and 11). |
Changes in liabilities arising
Changes in liabilities arising from financing activities | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Changes in liabilities arising from financing activities | 28. Changes in liabilities arising from financing activities Changes in liabilities arising from financing activities for the years ended December 31, 2022 and 2023 are as follows: (In millions of won) Non-cash transactions January 1, Cash flows from financing activities Gain or loss on foreign currency translation Effective interest adjustment Others December 31, Short-term borrowings ₩ 613,733 1,922,283 42,536 — — 2,578,552 Long-term borrowings 9,438,512 1,470,383 59,657 — ( 4,440 ) 10,964,112 Bonds (*) 2,611,561 ( 1,071,560 ) 113,669 12,644 ( 217,568 ) 1,448,746 Lease liabilities 84,326 ( 82,296 ) ( 1,806 ) — 72,564 72,788 Dividend payable 3,679 ( 292,786 ) — — 289,107 — ₩ 12,751,811 1,946,024 214,056 12,644 139,663 15,064,198 (*) Others include W 220,240 million of gain on valuation of financial liabilities at fair value through profit or loss and W 2,672 million of loss on early repayment of borrowings and bonds. (In millions of won) Non-cash transactions January 1, Cash flows from financing activities Gain or loss on foreign currency translation Effective interest adjustment Others December 31, Short-term borrowings ₩ 2,578,552 ( 716,386 ) 13,469 — — 1,875,635 Long-term borrowings 10,964,112 2,139,554 50,174 3,271 8,240 13,165,351 Bonds 1,448,746 35,276 2,237 1,717 167 1,488,143 Lease liabilities 72,788 ( 73,483 ) ( 312 ) — 74,371 73,364 Dividend payable — ( 34,098 ) ( 44 ) — 41,444 7,302 ₩ 15,064,198 1,350,863 65,524 4,988 124,222 16,609,795 |
Related Parties and Others
Related Parties and Others | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Related Parties and Others | 29. Related Parties and Others (a) Related parties Related parties as of December 31, 2023 are as follows: Classification Description Associates(*) Paju Electric Glass Co., Ltd. and others Entity that has significant influence over the Controlling Company LG Electronics Inc. Subsidiaries of the entity that has significant influence over the Controlling Company Subsidiaries of LG Electronics Inc. (*) Details of associates are described in Note 8. 29. Related Parties and Others, Continued (b) Significant transactions such as sales of goods and purchases of raw material and outsourcing service and others, which occurred in the normal course of business with related parties for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 Purchase and others Sales Dividend income Purchase of raw material and others Acquisition of property, plant and equipment Outsourcing fees Other costs Associates AVATEC Co., Ltd. ₩ — 200 713 — 72,156 1,485 Paju Electric Glass Co., Ltd. — 3,668 365,400 — — 2,734 WooRee E&L Co., Ltd. — — 13,541 — — 79 YAS Co., Ltd. — 200 10,337 54,071 — 9,824 Cynora GmbH — — 10 — — — Material Science Co., Ltd. — — 187 — — — ₩ — 4,068 390,188 54,071 72,156 14,122 Entity that has significant influence LG Electronics Inc. ₩ 270,396 — 19,805 395,654 — 130,924 Subsidiaries of the entity that has LG Electronics India Pvt. Ltd. ₩ 97,475 — — — — 418 LG Electronics Vietnam Haiphong 414,806 — — 607 — 1,445 LG Electronics Nanjing New 449,390 — — — — 1,263 LG Electronics RUS, LLC 98,812 — — — — 1,141 29. Related Parties and Others, Continued (In millions of won) 2021 Purchase and others Sales Dividend income Purchase of raw material and others Acquisition of property, plant and equipment Outsourcing fees Other costs LG Electronics do Brasil Ltda. ₩ 154,565 — — — — 543 LG Innotek Co., Ltd. 3,753 — 26,874 451 — 85,471 HI-M Solutek Co., Ltd — — 44 — — 5,662 LG Electronics Mexicalli, S.A. DE 269,305 — — — — 89 LG Electronics Mlawa Sp. z o.o. 1,254,164 — — — — 577 LG Electronics Reynosa, S.A. DE 1,256,107 — — — — 1,011 LG Electronics Egypt S.A.E. 106,469 — — — — 159 LG Electronics Japan, Inc. — — — 10 — 5,334 P.T. LG Electronics Indonesia 537,944 — — — — 574 LG Electronics Taiwan Taipei Co., Ltd. 5,046 — — — — 659 LG Electronics Nanjing Vehicle 2,009 — — — — — LG Technology Ventures LLC — — — — — 4,411 Others 5 — 739 602 — 968 ₩ 4,649,850 — 27,657 1,670 — 109,725 ₩ 4,920,246 4,068 437,650 451,395 72,156 254,771 29. Related Parties and Others, Continued (In millions of won) 2022 Purchase and others Sales Dividend income Purchase of raw material and others Acquisition of property, plant and equipment Outsourcing fees Other costs Associates AVATEC Co., Ltd. ₩ — — 58 — 64,492 3,617 Paju Electric Glass Co., Ltd. — 4,361 245,962 — — 2,942 WooRee E&L Co., Ltd. — — 12,321 — — 2 YAS Co., Ltd. — 100 14,291 29,951 — 8,038 Material Science Co., Ltd. — — 17 — — — ₩ — 4,461 272,649 29,951 64,492 14,599 Entity that has significant influence LG Electronics Inc. ₩ 238,358 — 19,808 517,476 — 137,703 Subsidiaries of the entity that has LG Electronics India Pvt. Ltd. ₩ 70,514 — — — — 519 LG Electronics Vietnam Haiphong 468,380 — — — — 882 LG Electronics Nanjing New 334,099 — — — — 1,178 LG Electronics RUS, LLC 23,458 — — — — 414 29. Related Parties and Others, Continued (In millions of won) 2022 Purchase and others Sales Dividend income Purchase of raw material and others Acquisition of property, plant and equipment Outsourcing fees Other costs LG Electronics do Brasil Ltda. ₩ 88,835 — — — — 200 LG Innotek Co., Ltd. 27,698 — 10,122 — — 79,515 LG Electronics Mlawa Sp. z o.o. 1,178,140 — — — — 1,089 LG Electronics Reynosa, S.A. DE C.V. 1,195,146 — — — — 958 LG Electronics Egypt S.A.E. 72,055 — — — — 372 LG Electronics Japan, Inc. — — — 16 — 7,307 P.T. LG Electronics Indonesia 531,543 — — — — 1,415 LG Electronics Taiwan Taipei Co., Ltd. 3,433 — — — — 615 LG Technology Ventures LLC — — — — — 4,922 HI-M Solutek Co., Ltd — — 58 — — 9,258 LG Electronics U.S.A., Inc. — — — — — 2,315 Others 572 — 592 608 — 913 ₩ 3,993,873 — 10,772 624 — 111,872 ₩ 4,232,231 4,461 303,229 548,051 64,492 264,174 29. Related Parties and Others, Continued (In millions of won) 2023 Purchase and others Sales Dividend income Purchase of raw material and others Acquisition of property, plant and equipment Outsourcing fees Other costs Associates AVATEC Co., Ltd. ₩ — — 452 — 43,210 11,003 Paju Electric Glass Co., Ltd. — 15,200 176,831 — — 4,341 WooRee E&L Co., Ltd. — — 7,853 — — 513 YAS Co., Ltd. — — 9,832 17,447 — 5,755 Material Science Co., Ltd. — — — — — 179 ₩ — 15,200 194,968 17,447 43,210 21,791 Entity that has significant influence LG Electronics Inc. ₩ 231,935 — 22,370 320,555 — 180,539 Subsidiaries of the entity that has LG Electronics India Pvt. Ltd. ₩ 47,031 — — — — 270 LG Electronics Vietnam Haiphong 434,789 — — 6,108 — 982 29. Related Parties and Others, Continued (In millions of won) 2023 Purchase and others Sales Dividend income Purchase of raw material and others Acquisition of property, plant and equipment Outsourcing fees Other costs LG Electronics Nanjing New ₩ 350,207 — — — — 451 LG Electronics do Brasil Ltda. 29,249 — — — — 316 LG Innotek Co., Ltd. 7,754 — 14,970 — — 100,272 LG Electronics Mlawa Sp. z o.o. 811,880 — — — — 1,611 LG Electronics Reynosa S.A. DE C.V. 826,547 — — — — 810 LG Electronics Egypt S.A.E 20,225 — — — — 66 LG Electronics Japan, Inc. 114 — — 24 — 6,254 LG Electronics RUS, LLC 360 — — — — 2,359 LG Electronics U.S.A., Inc. — — — — — 2,177 P.T. LG Electronics Indonesia 448,528 — — — — 2,231 LG Electronics Nanjing Vehicle 1,414 — — — — — LG Technology Ventures LLC — — — — — 2,596 HI-M Solutek Co., Ltd — — 9 — — 7,316 Others 15 — 142 55 — 1,447 ₩ 2,978,113 — 15,121 6,187 — 129,158 ₩ 3,210,048 15,200 232,459 344,189 43,210 331,488 29. Related Parties and Others, Continued (c) Trade accounts and notes receivable and payable as of December 31, 2022 and 2023 are as follows: (In millions of won) Trade accounts and notes receivable and others Trade accounts and notes payable and others December 31, December 31, December 31, December 31, Associates ₩ — AVATEC Co., Ltd. — — 3,756 4,775 Paju Electric Glass Co., Ltd. — — 30,431 56,136 WooRee E&L Co., Ltd. 878 695 1,502 2,219 YAS Co., Ltd. — — 7,680 12,483 Material Science Co., Ltd. — — — 118 ₩ 878 695 43,369 75,731 Entity that has significant influence over the LG Electronics Inc. (*1) ₩ 69,447 63,284 99,934 1,140,260 Subsidiaries of the entity that has significant LG Electronics India Pvt. Ltd. ₩ 5,669 2,013 15 35 LG Electronics Vietnam Haiphong Co., Ltd. 50,173 76,952 53 1,403 LG Electronics Nanjing New Technology Co., Ltd. 30,018 38,502 — 27 LG Electronics do Brasil Ltda. 10,997 6,252 — 32 LG Innotek Co., Ltd. (*2) 3,838 3,002 209,032 216,049 29. Related Parties and Others, Continued (In millions of won) Trade accounts and notes receivable and others Trade accounts and notes payable and others December 31, December 31, December 31, December 31, LG Electronics Mlawa Sp. z o.o. ₩ 94,346 101,357 155 — LG Electronics Reynosa, S.A. DE C.V. 16,760 64,208 167 109 LG Electronics Japan, Inc. — 114 566 632 P.T. LG Electronics Indonesia 45,617 46,146 195 108 LG Electronics Taiwan Taipei Co., Ltd. — — 77 115 LG Electronics Egypt S.A.E — 369 — 1 Others 2,260 251 4,574 2,184 ₩ 259,678 339,166 214,834 220,695 ₩ 330,003 403,145 358,137 1,436,686 (*1) Trade accounts and note payable and others for LG Electronics Inc. as of December 31, 2023 includes long-term borrowings of W 1,000,000 million. (see note 12(c)) (*2) Trade accounts and note payable and others for LG Innotek Co., Ltd. as of December 31, 2023 and 2022 Includes deposits received amount W 180,000 million from lease agreement. 29. Related Parties and Others, Continued (d) Details of significant financing transactions with related parties for the years ended December 31, 2021 and 2023 are as follows: (In millions of won) 2021 Associates Loans Collection of loans WooRee E&L Co., Ltd. ₩ 878 — (In millions of won) 2023 Entity that has significant influence Borrowings LG Electronics Inc.(*) ₩ 1,000,000 Associates Collection of loans WooRee E&L Co., Ltd. ₩ 183 (*) The Group entered into a loan agreement with LG Electronics Inc. on March 27, 2023 for a total borrowing amount of W 1,000,000 million, and received W 650,000 million on March 30, 2023 and W 350,000 million on April 20, 2023. The repayment plan is instalment payment for a period of one year, granting grace period of two years and the maturity date is March 30, 2026 (see note 12(c) ). There were no significant financing transactions with related parties for the year ended December 31, 2022. 29. Related Parties and Others, Continued (e) Key management personnel compensation Compensation costs of key management for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 2022 2023 Short-term benefits ₩ 3,747 2,305 2,291 Expenses related to the defined benefit plan 366 417 355 ₩ 4,113 2,722 2,646 Key management refers to the registered directors who have significant control and responsibilities over the Controlling Company’s operations and business. |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Supplemental Cash Flow Information | 30. Supplemental Cash Flow Information Supplemental cash flow information for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 2022 2023 Non-cash investing and financing activities: Changes in other accounts payable arising from the ₩ 445,028 480,322 ( 348,046 ) Changes in other accounts payable arising from the 529,826 ( 113,185 ) ( 27,918 ) Recognition of right-of-use assets and lease liabilities 63,655 54,927 74,611 |
Subsequent Event
Subsequent Event | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
Subsequent Event | 31. Subsequent Event On December 18, 2023, the Board of Directors of the Controlling Company adopted a resolution to approve the Controlling Company’s proposed paid-in capital increase (the “Capital Increase”). On March 15, 2024, the Controlling Company issued 142,184,300 new shares of common stock, with a the total issuance amount of W 1,292,455 million at the price of W 9,090 per share.The new shares were listed in Korea Exchange on March 26, 2024 and the gross proceeds from the Capital Increase will be used for facility investment, working capital and debt repayment. |
Material Accounting Policies (P
Material Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Changes in material accounting policies | Changes in Material Accounting Policies(i)Global Minimum TaxThe Group has applied the International Tax Reform – Pillar Two Model Rules (Amendments to IAS 12 ‘Income taxes’) published in December 2023. The amendments provide a temporary mandatory exception from deferred tax accounting for the global minimum tax, and require new disclosure about the Pillar Two exposure. (See Note 23) (ii)Material accounting policy information The Group adopted Disclosure of Accounting Policies (Amendments to IAS 1 ‘Presentation of Financial Statements’) from January 1, 2023. Although the amendments did not result in any changes to the accounting polices themselves, they impacted the accounting policy information disclosed in the financial statements. The amendments require disclosure of ‘material’ rather than ‘significant’, accounting policies. The amendments also provide guidance on the application of materiality to disclosure of accounting policies, assisting entities to provide useful, entity-specific accounting policy information that users need to understand other information in the financial statements. The Group has reviewed the accounting policies and has updated the information disclosed in Note 3 (2022 and 2021: Summary of Significant Accounting Policies) accordingly. |
Consolidation | (b) Consolidation (i) Subsidiaries Subsidiaries are entities controlled by the Group. The Group controls an entity when it is exposed, or has right to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of subsidiaries are included in the consolidated financial statements from the date on which control commences until the date on which control ceases. (ii) Non-controlling interests Non-controlling interests (“NCI”) are measured at their proportionate share of the acquiree’s identifiable net assets at the acquisition date. Profit or loss and other comprehensive income (loss) of subsidiaries are attributed to owners of the Controlling Company and non-controlling interests. Changes in the Group’s interest in subsidiaries that do not result in a loss of control are accounted for as equity transactions. 3. Material Accounting Policies, Continued (b) Consolidation, Continued (iii) Loss of Control If the Controlling Company loses control of subsidiaries, the Controlling Company derecognizes the assets and liabilities of the former subsidiaries from the consolidated statement of financial position and recognizes the gain or loss associated with the loss of control attributable to the former controlling interest. Meanwhile, the Controlling Company recognizes any investment retained in the former subsidiaries at its fair value when control is lost. (iv) Associates and joint ventures (equity method investees) Associates are those entities in which the Group has significant influence, but not control or joint control, over the financial and operating policies. A joint venture is an arrangement in which the parties have joint control, whereby the parties have rights to the net assets of the arrangement, rather than rights to its assets and obligations for its liabilities. Investments in associates and joint ventures are initially recognized at cost and subsequently accounted for using the equity method of accounting. The carrying amount of investments in associates and joint ventures is increased or decreased to recognize the Group's share of the profits or losses and changes in the Group's proportionate interest of the investee after the date of acquisition. Distributions received from an investee reduce the carrying amount of the investment. If an associate or a joint venture uses accounting policies different from those of the Controlling Company for like transactions and events in similar circumstances, appropriate adjustments are made to the consolidated financial statements. As of and during the periods presented in the consolidated financial statements, no adjustments were made in applying the equity method. When the Group’s share of losses exceeds its interest in an equity accounted investee, the carrying amount of that interest, including any long-term investments, is reduced to nil, and the recognition of further losses is discontinued except to the extent that the Group has an obligation or has made payments on behalf of the investee. (v) Transactions eliminated on consolidation Intra-group balances and transactions, including income and expenses and any unrealized income and expenses and balance of trade accounts and notes receivable and payable arising from intra-group transactions, are eliminated. Unrealized gains arising from transactions with equity accounted investees are eliminated against the investment to the extent of the Group’s interest in the investee. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is no evidence of impairment. 3. Material Accounting Policies, Continued |
Foreign Currency Transaction and Translation | (c) Foreign Currency Transaction and Translation Transactions in foreign currencies are translated to the respective functional currencies of the Group entities at exchange rates at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are retranslated to the functional currency at the exchange rate on the reporting date. Non-monetary assets and liabilities denominated in foreign currencies that are measured at fair value are retranslated to the functional currency at the exchange rate at the date that the fair value was originally determined. Foreign currency differences arising on retranslation are recognized in profit or loss, except for differences arising on an investment in equity instruments designated as at FVOCI and a financial asset and liability designated as a cash flow hedge, which are recognized in other comprehensive income. Exchange differences arising on the settlement of monetary items or on translating monetary items at rates different from those at which they were translated on initial recognition are recognized in profit or loss in the period in which they arise. Foreign currency differences arising from assets and liabilities in relation to the investing and financing activities including borrowings, bonds and cash and cash equivalents are recognized in finance income (costs) in the consolidated statement of comprehensive income (loss) and foreign currency differences arising from assets and liabilities in relation to activities other than investing and financing activities are recognized in other income (expenses) in the consolidated statement of comprehensive income (loss). Foreign currency differences are presented in gross amounts in the consolidated statement of comprehensive income (loss). If the presentation currency of the Group is different from a foreign operation’s functional currency, the financial position and financial performance of the foreign operation are translated into the presentation currency using the following methods. The assets and liabilities of foreign operations, whose functional currency is not the currency of a hyperinflationary economy are translated to the Group’s functional currency at exchange rates at the reporting date. The income and expenses of foreign operations are translated to the Group’s functional currency at exchange rates at the dates of the transactions and foreign currency differences are recognized in other comprehensive income (loss). Relevant proportionate shares of foreign currency differences are allocated to the controlling interests and non-controlling interests. When a foreign operation is disposed of in its entirety or partially such that control, significant influence or joint control is lost, the cumulative amount in the translation reserve related to that foreign operation is reclassified to profit or loss as part of the gain or loss on disposal. If the Group disposes part of its interest in a subsidiary but retains control, then the relevant proportion of the cumulative amount is reattributed to NCI. When the Group disposes of only part of an associate or joint venture while retaining significant influence or joint control, the relevant proportion of the cumulative amount is reclassified to profit or loss. Any goodwill arising on the acquisition of a foreign operation and any fair value adjustments to the carrying amounts of assets and liabilities arising on the acquisition of that foreign operation is treated as assets and liabilities of the foreign operation. Thus, they are expressed in the functional currency of the foreign operation and translated at the at each reporting date’s exchange rate. 3. Material Accounting Policies, Continued |
Cash and cash equivalents | (d) Cash and cash equivalents Cash and cash equivalents include all cash balances and short-term highly liquid investments with an original maturity of three months or less that are readily convertible into known amounts of cash. |
Inventories | (e) Inventories Inventories are measured at the lower of cost and net realizable value. The cost of inventories is based on the weighted-average method, and includes expenditures incurred in acquiring the inventories, production or conversion costs and other costs incurred in bringing them to their existing location and condition. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated selling expenses. In the case of manufactured inventories and work-in-process, cost includes an appropriate share of production overheads based on the actual capacity of production facilities. However, the normal capacity is used for the allocation of fixed production overheads if the actual level of production is lower than the normal capacity. The Group make adjustments to reduce the cost of inventory to its net realizable value, for estimated excess, obsolescence or impaired balances. Factors influencing these adjustments include changes in demand, technological changes, product life cycle, component cost trends, product pricing. Revisions to these adjustments would be required if these factors differ from the Group’s estimates. |
Financial Instruments | (f) Financial Instruments (i) Non-derivative financial assets Recognition and initial measurement Trade receivables and debt instruments issued are initially recognized when they are originated. All other financial assets are recognized in statement of financial position when, and only when, the Group becomes a party to the contractual provisions of the instrument. A financial asset (unless it is a trade receivable without a significant financing component) is initially measured at fair value plus, for an item not at FVTPL, transaction costs that are directly attributable to its acquisition or issue. A trade receivable without a significant financing component is initially measured at the transaction price. Classification and subsequent measurement i) Financial assets On initial recognition, a financial asset is classified as measured at: amortized cost; FVOCI – debt investment; FVOCI – equity investments; or FVTPL. Financial assets are not reclassified subsequent to their initial recognition unless the Group changes its business model for managing financial assets, in which case all affected financial assets are reclassified on the first day of the subsequent reporting period following the change in the business model. A financial asset is measured as at amortized cost if it meets both of the following conditions and is not designated as at FVTPL: - it is held within a business model whose objective is to hold assets to collect contractual cash flows; and - its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. 3. Material Accounting Policies, Continued (f) Financial Instruments, Continued (i) Non-derivative financial assets, Continued A debt investment is measured at FVOCI if it meets both of the following conditions and is not designated as at FVTPL: - it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and - the contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. On initial recognition of an equity investments that is not held for trading, the Group may irrevocably elect to present subsequent changes in the investment’s fair value in OCI. This election is made on an investment-by-investment basis. All financial assets not classified as measured at amortized cost or FVOCI as described above are measured as at FVTPL. This includes all derivative financial assets. At initial recognition, the Group may irrevocably designate a financial asset that otherwise meets the requirements to be measured at amortized cost or at FVOCI as at FVTPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise. ii) Financial assets: business model The Group makes an assessment of the objective of the business model in which a financial asset is held at a portfolio level because this best reflects the way the business is managed and information is provided to management. The information considered includes: - the stated policies and objectives for the portfolio and the operation of those policies in practice (these include whether management’s strategy focuses on earning contractual interest income, maintaining a particular interest rate profile, matching the duration of the financial assets to the duration of any related liabilities or expected cash outflows or realizing cash flows through the sale of the assets); - how the performance of the portfolio is evaluated and reported to the Group’s management; - the risks that affect the performance of the business model (and the financial assets held within that business model) and how those risks are managed; and - the frequency, volume and timing of sales of financial assets in prior periods, the reasons for such sales and expectations about future sales activity. Transfers of financial assets to third parties in transaction that do not qualify for derecognition are not considered sale for this purpose. A financial asset that is held for trading or is managed and whose performance is evaluated on a fair value basis is measured at FVTPL. iii) Financial assets: Assessment whether contractual cash flows are solely payments of principal and interest For the purpose of the assessment, “principal” is defined as the fair value of the financial asset on initial recognition. ‘Interest’ is defined as consideration for the time value of money and for the credit risk associated with the principal amount outstanding during a particular period of time and for other basic lending risks and cost (e.g. liquidity risk and administrative costs), as well as profit margin. 3. Material Accounting Policies, Continued (f) Financial Instruments, Continued (i) Non-derivative financial assets, Continued In assessing whether the contractual cash flows are solely payments of principal and interest, the Group considers the contractual terms of the instrument. This includes assessing whether the financial asset contains a contractual term that could change the timing or amount of contractual cash flows such that it would not meet this condition. In making this assessment, the Group considers: - contingent events that would change the amount or timing of cash flows: - terms that may adjust the contractual coupon rate, including variable-rate features; - prepayment and extension features; and - terms that limit the Group’s claim to cash flows from specified assets (e.g. non-recourse features) A prepayment feature is consistent with the solely payments of principal and interest criterion if the prepayment amount substantially represents unpaid amounts of principal and interest or the principal amount outstanding, which may include reasonable additional compensation for early termination of the contract. Additionally, for a financial asset acquired at a discount or premium to its contractual par amount, a feature that permits or requires prepayment at an amount that substantially represents the contractual par amount plus accrued but unpaid contractual interest (which may also include reasonable additional compensation for early termination) is treated as consistent with this criterion if the fair value of the prepayment feature is insignificant at initial recognition. iv) Financial assets: Subsequent measurement and gains and losses Financial assets at FVTPL These assets are subsequently measured at fair value. Net gains and losses, including any interest or dividend income, are recognized in profit or loss. Financial assets at amortized cost These assets are subsequently measured at amortized cost using the effective interest method. The amortized cost is reduced by impairment losses. Interest income, foreign exchange gains and losses and impairment are recognized in profit or loss. Any gain or loss on derecognition is recognized in profit or loss. Debt investments at FVOCI These assets are subsequently measured at fair value. Interest income calculated using the effective interest method, foreign exchange gains and losses and impairment are recognized in profit or loss. Other net gains and losses are recognized in OCI. On derecognition, gains and losses accumulated in OCI are reclassified to profit or loss. Derecognition The Group derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, it transfers the rights to receive the contractual cash flows of the financial asset in a transaction in which substantially all the risks and rewards of ownership of the financial asset are transferred, or it transfers or does not retain substantially all the risks and rewards of ownership of a transferred asset, and does not retain control of the transferred asset. If the Group has retained substantially all the risks and rewards of ownership of the transferred asset, the Group continues to recognize the transferred asset. 3. Material Accounting Policies, Continued (f) Financial Instruments, Continued (ii) Non-derivative financial liabilities The Group classifies financial liabilities into two categories, financial liabilities at FVTPL and other financial liabilities in accordance with the substance of the contractual arrangement and the definitions of financial liabilities, and recognizes them in the consolidated statement of financial position when the Group becomes a party to the contractual provisions of the instrument. Financial liabilities at FVTPL include financial liabilities held for trading or designated as such upon initial recognition at FVTPL. After initial recognition, financial liabilities at FVTPL are measured at fair value, and changes therein are recognized in profit or loss. Upon initial recognition, transaction costs that are directly attributable to the issuance of financial liabilities are recognized in profit or loss as incurred. Non-derivative financial liabilities other than financial liabilities classified as at FVTPL are classified as other financial liabilities and measured initially at fair value minus transaction costs that are directly attributable to the issuance of financial liabilities. Subsequent to initial recognition, these financial liabilities are measured at amortized cost using the effective interest method. As of December 31, 2023, non-derivative financial liabilities comprise borrowings, bonds, trade accounts and notes payable, other accounts payable and others. The Group derecognizes a financial liability when its contractual obligations are discharged, cancelled or expired. (iii) Share Capital The Group issued common stocks and they are classified as equity. Incremental costs directly attributable to the issuance of common stocks are recognized as a deduction from equity, net of tax effects. Capital contributed in excess of par value upon issuance of common stocks is classified as share premium within equity. (iv) Derivative financial instruments Derivatives are initially recognized at fair value. Subsequent to initial recognition, derivatives are measured at fair value, and changes therein are accounted for as described below. 3. Material Accounting Policies, Continued (f) Financial Instruments, Continued (iv) Derivative financial instruments, Continued Hedge Accounting If necessary, the Group designates derivatives as hedging items to hedge the risk of changes in the fair value of assets, liabilities or firm commitments (a fair value hedge) and foreign currency risk of highly probable forecasted transactions or firm commitments (a cash flow hedge). On initial designation of the hedge, the Group’s management formally designates and documents the relationship between the hedging instrument(s) and hedged item(s), including the risk management objectives and strategy in undertaking the hedge transaction, together with the methods that will be used to assess the effectiveness of the hedging relationship, both at the inception of the hedge relationship as well as on an ongoing basis. i) Fair value hedges Change in the fair value of a derivative hedging instrument designated as a fair value hedge and the hedged item is recognized in profit or loss, respectively. The gain or loss from remeasuring the hedging instrument at fair value and the gain or loss on the hedged item attributable to the hedged risk are recognized in profit or loss in the same line item of the statement of comprehensive income (loss). The Group discontinues fair value hedge accounting if it does not designate the derivative hedging instrument and the hedged item as the hedge relationship between them anymore; if the hedging instrument expires or is sold, terminated or exercised; or if the hedge no longer meets the criteria for hedge accounting. ii) Cash flow hedges When a derivative designated as a cash flow hedging instrument meets the criteria of cash flow hedge accounting, the effective portion of changes in the fair value of the derivative is recognized in other comprehensive income and the ineffective portion of changes in the fair value of the derivative is recognized in profit or loss. The Group discontinues cash flow hedge accounting if it does not designate the derivative hedging instrument and the hedged item as the hedge relationship between them anymore; if the hedging instruments expires or is sold, terminated or exercised; or if the hedge no longer meets the criteria for hedge accounting. The cumulative gain or loss on the hedging instrument that has been recognized in other comprehensive income is reclassified to profit or loss in the periods during which the forecasted transaction occurs. If the forecasted transaction is no longer expected to occur, then the balance in other comprehensive income is recognized immediately in profit or loss. The Group is applying cash flow hedge accounting by designating expected foreign currency denominated sales arising from forecast export transactions as hedging items and the derivative instruments related to forward exchange as hedging instruments. The effective portion of changes in the fair value of the derivative is recognized in equity and the amount accumulated in equity is reclassified to revenue in the same period which forecast sales occur. Embedded derivative Embedded derivatives are separated from the host contract and accounted for separately if the host contract is not a financial asset and certain criteria are met. Other derivative financial instruments Other derivative financial instruments are measured at fair value and changes of their fair value are recognized in profit or loss. 3. Material Accounting Policies, Continued |
Property, Plant and Equipment | (g) Property, Plant and Equipment (i) Recognition and measurement Items of property, plant and equipment are measured at cost less accumulated depreciation and accumulated impairment losses. Cost includes an expenditure that is directly attributable to the acquisition of the asset. The cost of self-constructed assets includes the cost of materials and direct labor, any costs directly attributable to bringing the assets to a working condition for their intended use, the costs of dismantling and removing the items and restoring the site on which they are located and borrowing costs on qualifying assets. The gain or loss arising from the derecognition of an item of property, plant and equipment is determined as the difference between the net disposal proceeds, if any, and the carrying amount of the item and recognized in other income or other expenses. (ii) Subsequent costs Subsequent expenditure on an item of property, plant and equipment is recognized as part of its cost only if it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The costs of the day-to-day servicing of property, plant and equipment are recognized in profit or loss as incurred. (iii) Depreciation Land is not depreciated and depreciation of other items of property, plant and equipment is recognized in profit or loss on a straight-line basis, reflecting the pattern in which the asset's future economic benefits are expected to be consumed by the Group. The residual value of property, plant and equipment is zero. Estimated useful lives of the assets are as follows: Estimated useful lives (years) Buildings and structures 20 ~ 40 Machinery 4 , 5 Furniture and fixtures 4 Equipment, tools and vehicles 2 , 4 , 12 Right-of-use assets (*) (*) The Group depreciates the right-of-use assets from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. Depreciation methods, useful lives and residual values are reviewed at each financial year-end and adjusted if appropriate and any changes are accounted for as changes in accounting estimates. |
Borrowing Costs | (h) Borrowing Costs The Group capitalizes borrowing costs, which includes interests and exchange differences arising from foreign currency borrowings to the extent that they are regarded as an adjustment to interest costs, directly attributable to the acquisition, construction or production of a qualifying asset as part of the cost of that asset. A qualifying asset is an asset that necessarily takes a substantial period of time to get ready for its intended use or sale. To the extent that the Group borrows funds specifically for the purpose of obtaining a qualifying asset, the Group determines the amount of borrowing costs eligible for capitalization as the actual borrowing costs incurred on that borrowing during the period less any investment income on the temporary investment of those borrowings. The Group immediately recognizes other borrowing costs as an expense. |
Government Grants | (i) Government Grants In case there is reasonable assurance that the Group will comply with the conditions attached to a government grant, the government grant is recognized as follows: 3. Material Accounting Policies, Continued (i) Government Grants, Continued (i) Grants related to the purchase or construction of assets A government grant related to the purchase or construction of assets is deducted in calculating the carrying amount of the asset. The grant is recognized in profit or loss over the life of a depreciable asset as a reduced depreciation expense and cash related to grant received is presented in investing activities in the statement of cash flows. (ii) Grants for compensating the Group’s expenses incurred A government grant that compensates the Group for expenses incurred is recognized in profit or loss as a deduction from relevant expenses on a systematic basis in the periods in which the expenses are recognized. (iii) Other government grants A government grant that becomes receivable for the purpose of giving immediate financial support to the Group with no compensation for expenses or losses already incurred or no future related costs is recognized as income of the period in which it becomes receivable. |
Intangible Assets | (j) Intangible Assets Intangible assets are initially measured at cost. Subsequently, intangible assets are measured at cost less accumulated amortization and accumulated impairment losses. (i) Goodwill Goodwill arising from business combinations is recognized as the excess of the acquisition cost of a business over the net fair value of the identifiable assets acquired and liabilities assumed. Any deficit is a bargain purchase that is recognized in profit or loss. Goodwill is measured at cost less accumulated impairment losses. (ii) Research and development Expenditure on research activities, undertaken with the prospect of gaining new scientific or technical knowledge and understanding, is recognized in profit or loss as incurred. Development activities involve a plan or design of the production of new or substantially improved products and processes. Development expenditure is capitalized as intangible assets only if the Group can demonstrate all of the following: - the technical feasibility of completing the intangible asset so that it will be available for use or sale, - its intention to complete the intangible asset and use or sell it, - its ability to use or sell the intangible asset, - how the intangible asset will generate probable future economic benefits (among other things, the Group can demonstrate the usefulness of the intangible asset by existence of a market for the output of the intangible asset or the intangible asset itself if it is to be used internally), - the availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset, and - its ability to measure reliably the expenditure attributable to the intangible asset during its development. Development projects are divided into research activities and development activities. Expenditures on research activities are recognized in profit or loss and qualifying development expenditures on development activities are capitalized. The expenditure capitalized includes the cost of materials, direct labor and overhead costs that are directly attributable to preparing the asset for its intended use and borrowing costs on qualifying assets. 3. Material Accounting Policies, Continued (j) Intangible Assets, Continued (iii) Other intangible assets Other intangible assets include intellectual property rights, software, customer relationships, technology, memberships and others. The Group currently has a number of patent license agreements related to product production. When the amount of payments for the entire contract period can be reliably determined, the total undiscounted amount is recognized as intangible assets as intellectual property rights and other account payables, respectively, and the intangible assets are amortized on a straight-line basis over the patent license period. (iv) Subsequent costs Subsequent expenditures are capitalized only when they increase the future economic benefits embodied in the specific intangible asset to which they relate. All other expenditures, including expenditures on internally generated goodwill and brands, are recognized in profit or loss as incurred. (v) Amortization Amortization is calculated on a straight-line basis over the estimated useful lives of intangible assets, other than goodwill, from the date that they are available for use. The residual value of intangible assets is zero. However, as there are no foreseeable limits to the periods over which condominium and golf club memberships are expected to be available for use, these intangible assets are regarded as having indefinite useful lives and not amortized. Estimated useful lives (years) Intellectual property rights 5 , 10 , (*1) Rights to use electricity, water and gas supply facilities 10 Software 4 , (*1) Customer relationships 7 , 10 Technology 10 Development costs (*2) Condominium and golf club memberships Indefinite (*1) Patent royalty (included in intellectual property rights) and software license are amortized over the useful lives considering the contract period. (*2) Capitalized development costs are amortized over the useful lives considering the life cycle of the developed products. Amortization of capitalized development costs are recognized in research and development expenses in the consolidated statement of comprehensive income (loss). Amortization periods and the amortization methods for intangible assets with finite useful lives are reviewed at each financial year-end. The useful lives of intangible assets with indefinite useful lives are reviewed at each financial year-end to determine whether events and circumstances continue to support indefinite useful life assessments for those assets. If appropriate, the changes are accounted for as changes in accounting estimates. |
Investment property | (k) Investment property Property held to earn rentals or for capital appreciation or both is classified as investment property. Investment properties are initially measured at cost, including transaction costs incurred at the time of acquisition, and subsequently, measured at cost less accumulated depreciation and accumulated impairment loss. Subsequent expenditure on an item of investment property is recognized as part of its cost only if it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of those parts that are replaced is derecognized. All other subsequent expenditures are expensed in the period in which it is incurred. 3. Material Accounting Policies, Continued (k) Investment property, Continued Among investment properties, land is not depreciated, and investment properties except land are depreciated on a straight-line basis by applying 20 years of the building according to the economic depreciation period. Depreciation methods, useful lives and residual values of investment properties are reviewed at each reporting period-end and if appropriate, the changes are accounted for as changes in accounting estimates. |
Impairment | (l) Impairment (i) Financial assets Financial instruments and contract assets The Group recognizes loss allowance for financial assets measured at amortized cost and debt investments at FVOCI at the ‘expected credit loss’ (ECL). The Group recognizes a loss allowance for the life-time expected credit losses except for following, which are measured at 12-month ECLs: - debt instruments that are determined to have low credit risk at the reporting date; and - other debt instruments and bank deposits for which credit risk (i.e. the risk of default occurring over the expected life of the financial instrument) has not increased significantly since initial recognition. When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating ECLs, the Group considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes both qualitative and quantitative information and analysis, based on the Group’s historical experience and informed credit assessment including forward-looking information. Lifetime ECLs are the ECLs that result from all possible default events over the expected life of a financial instrument. 12-month ECLs are the portion of the ECLs that result from default events that are possible within the 12 months after the reporting date (or a shorter period if the expected life of the instrument is less than 12 months). The maximum period considered when estimating ECLs is the maximum contractual period over which the Group is exposed to credit risk. 3. Material Accounting Policies, Continued (l) Impairment, Continued (i) Financial assets, Continued Estimation of expected credit losses Expected credit losses are a probability-weighted estimate of credit losses. Credit losses are measured using the present value of the difference between the contractual cash flows and the expected contractual cash flows. The expected credit losses are discounted using effective interest rate of the financial assets. Credit-impaired financial assets At each reporting period-end, the Group assesses whether financial assets carried at amortized cost and debt instruments at FVOCI are credit-impaired. A financial asset is ‘credit-impaired’ when one or more events that have a detrimental impact on the estimated future cash flows of the financial asset have occurred. Evidence that a financial asset is credit-impaired includes the following observable data: - significant financial difficulty of the issuer or the borrower; - the lender(s) of the borrower, for economic or contractual reasons relating to the borrower’s financial difficulty, having granted to the borrower a concession(s) that the lender(s) would not otherwise consider; - it is probable that the borrower will enter bankruptcy or other financial reorganization; or - the disappearance of an active market for a security because of financial difficulties. Presentation of loss allowance for ECL in the consolidated statement of financial position Loss allowances for financial assets measured at amortized cost are deducted from the gross carrying amount of the assets. For debt instruments at FVOCI, the loss allowance is charged to profit or loss and is recognized in OCI instead of reducing the carrying amount of financial assets in the consolidated statement of financial position. Write-off The gross carrying amount of a financial asset is written off when the Group has no reasonable expectations for recovering the financial asset in its entirety or a portion thereof. The Group assess whether there are reasonable expectations of recovering the contractual cash flows from customers and individually assess the timing and amount of write-off. The Group expects no significant recovery from the amount written-off. However, financial assets that are written off could still be subject to enforcement activities in order to comply with the Group’s procedures for recovery of amounts due. 3. Material Accounting Policies, Continued (l) Impairment, Continued (ii) Non-financial assets The carrying amounts of the Group’s non-financial assets, other than assets arising from employee benefits, inventories and deferred tax assets, are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated. For goodwill, and intangible assets that have indefinite useful lives or that are not yet available for use, irrespective of whether there is any indication of impairment, the recoverable amount is estimated each year. Recoverable amount is estimated for the individual asset. If it is not possible to estimate the recoverable amount of the individual asset, the Group determines the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit (“CGU”) is the smallest group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. In identifying whether cash inflows from an asset or group of assets are largely independent of the cash inflows from other assets or groups of assets, the Group considers various factors including how management monitors the entity’s operations or how management makes decisions about continuing or disposing of the entity’s assets and operations. Goodwill arising from a business combination is allocated to CGUs or groups of CGUs that are expected to benefit from the synergies of the combination. The recoverable amount of an asset or cash-generating unit is determined as the greater of its value in use and its fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or CGU. Fair value less costs to sell is based on the best information available to reflect the amount that the Group could obtain from the disposal of the asset in an arm's length transaction between knowledgeable, willing parties, after deducting the costs of disposal. An impairment loss is recognized if the carrying amount of an asset or its CGU exceeds its estimated recoverable amount. Impairment losses are recognized in profit or loss. Impairment losses recognized in respect of a CGU are allocated first to reduce the carrying amount of any goodwill allocated to the unit, and then to reduce the carrying amounts of the other assets in the unit on a pro rata basis. In respect of assets other than goodwill, impairment losses recognized in prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of accumulated depreciation or amortization, if no impairment loss had been recognized from the acquisition cost. An impairment loss in respect of goodwill is not reversed. 3. Material Accounting Policies, Continued |
Leases | (m) Leases A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. (i) As a lessee At commencement or on modification of a contract that contains a lease component, the Group allocates the consideration in the contract to each lease and non-lease component on the basis of its relative stand-alone price. For certain leases, the Group accounts for the lease and non-lease components as a single lease component by applying the practical expedient not to separate non-lease components. The Group recognizes a right-of-use asset and lease liability at the lease commencement date. The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at of before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located less any lease incentives received. The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the end of the lease term, unless the lease transfers ownership of the underlying asset to the Group by the end of the lease term or the cost of the right-of-use asset reflects that the Group will exercise a purchase option. In that case, the right-of-use asset will be depreciated over the useful life of the underlying asset, which is determined on the same basis as those of property and equipment. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Group’s incremental borrowing rate. Generally, the Group uses its incremental borrowing rate as the discount rate. The Group determines its incremental borrowing rate by obtaining interest rates from various external financing sources and makes certain adjustments to reflect the terms of the lease and type of the asset leased. Lease payments included in the measurement of the lease liability comprise the following: - fixed payments, including in-substance fixed payments; - variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date; - amounts expected to be payable under a residual value guarantee; and - the exercise price under a purchase option that the Group is reasonably certain to exercise, lease payments in an optional renewal period if the Group is reasonably certain to exercise an extension option, and penalties for early termination of a lease unless the Group is reasonably certain not to terminate early. The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a change in the Group’s estimate of the amount expected to be payable under a residual value guarantee, if the Group changes its assessment of whether it will exercise a purchase, extension or termination option or if there is a revised in-substance fixed lease payment. When the lease liability is remeasured, the Group recognizes the amount of the remeasurement of the lease liability as an adjustment to the right-of-use asset. However, if the carrying amount of the right-of-use asset is reduced to zero and there is a further reduction in the measurement of the lease liability, the Group recognizes any remaining amount of the remeasurement in profit or loss. 3. Material Accounting Policies, Continued (m) Leases, Continued (i) As a lessee, Continued The Group presents right-of-use assets that do not meet the definition of investment property in ‘property, plant and equipment’ and lease liabilities in ‘financial liabilities’ in the consolidated statement of financial position. The Group has elected not to recognize right-of-use assets and lease liabilities for leases of low-value assets and short-term leases. The Group recognizes the lease payments associated with these leases as an expense on a straight-line basis over the lease term. (ii) As a lessor When the Group acts as a lessor, it determines at lease inception whether each lease is a finance lease or an operating lease. To classify each lease, the Group makes an overall assessment of whether the lease transfers substantially all of the risks and rewards incidental to ownership of the underlying asset. If the lease transfers substantially all of the risks and rewards incidental to ownership of the underlying asset, then the lease is a finance lease; if not, then it is an operating lease. As part of this assessment, the Group considers certain indicators such as whether the lease is for the major part of the economic life of the asset. When the Group is an intermediate lessor, it accounts for its interests in the head lease and the sub-lease separately. It assesses the lease classification of a sub-lease with reference to the right-of-use asset arising from the head lease, not with reference to the underlying asset. If a head lease is a short-term lease to which the Group applies the exemption described above, then it classifies the sub-lease as an operating lease. If an arrangement contains lease and non-lease components, then the Group applies IFRS 15 to allocate the consideration in the contract. At the commencement date, the Group recognizes assets held under a finance lease in its statement of financial position and present them as a receivable at an amount equal to the net investment in the lease and recognize finance income over the lease term, based on a pattern reflecting a constant periodic rate of return on the lessor’s net investment in the lease. The Group recognizes lease payments received under operating leases as income on a straight-line basis over the lease term as part of ‘other revenue’. 3. Material Accounting Policies, Continued |
Provisions | (n) Provisions A provision is recognized as a result of a past event, if the Group has a present legal or constructive obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. The risks and uncertainties that inevitably surround events and circumstances are taken into account in reaching the best estimate of a provision. Where the effect of the time value of money is material, provisions are determined at the present value of the expected future cash flows. The unwinding of the discount is recognized as finance cost. Provisions are reviewed at the end of each reporting period and adjusted to reflect the current best estimate. If it is no longer probable that an outflow of resources embodying economic benefits will be required to settle the obligation, the provision is reversed. The Group recognizes a liability for warranty obligations based on the estimated costs expected to be incurred under its basic limited warranty. This warranty covers defective products and is normally applicable for a warranty period from the date of purchase. These liabilities are recognized when product revenues are recognized. Factors that affect the Group’s warranty liability include historical and anticipated rates of warranty claims on those repairs and cost per claim to satisfy the Group’s warranty obligation. Warranty costs primarily include raw materials and labor costs. As these factors are impacted by actual experience and future expectations, management periodically assesses the adequacy of its recorded warranty provisions and adjusts the amounts as necessary. Warranty provisions are included in the current and non-current provisions. Liabilities for loss contingencies arising from claims, assessments, litigation, fines, penalties and other sources, are recorded when it is probable that a liability has been incurred and the amount of the assessment and/or remediation can be reasonably estimated. |
Non-current Assets Held for Sale | (o) Non-current Assets Held for Sale Non-current assets, or disposal groups comprising assets and liabilities, are classified as held-for-sale if it is highly probable that they will be recovered primarily from sale rather than through continuing use. In order to be classified as held for sale, the asset (or disposal group) is available for immediate sale in its present condition and its sale is highly probable. The assets (or disposal groups) that are classified as non-current assets held for sale are measured at the lower of their carrying amount and fair value less costs to sell on initial classification. The Group recognizes an impairment loss for any subsequent decrease in fair value of the asset (or disposal group) for which an impairment loss was recognized on initial classification as held-for-sale and a gain for any subsequent increase in fair value in profit or losses, up to the cumulative impairment loss previously recognized. The Group does not depreciate a non-current asset while it is classified as held for sale or while it is part of a disposal group classified as held for sale. |
Employee Benefits | (p) Employee Benefits (i) Short-term employee benefits Short-term employee benefits that are due to be settled within twelve months after the end of the period in which the employees render the related service are recognized in profit or loss on an undiscounted basis. The expected cost of profit-sharing and bonus plans and others are recognized when the Group has a present legal or constructive obligation to make payments as a result of past events and a reliable estimate of the obligation can be made. (ii) Other long-term employee benefits The Group’s net obligation in respect of long-term employee benefits other than pension plans is the amount of future benefit that employees have earned in return for their service in the current and prior periods. 3. Material Accounting Policies, Continued (p) Employee Benefits, Continued (iii) Defined contribution plan A defined contribution plan is a post-employment benefit plan under which an entity pays fixed contributions into a separate entity and will have no legal or constructive obligation to pay further amounts. Obligations for contributions to defined contribution pension plans are recognized as an employee benefit expense in profit or loss in the period during which services are rendered by employees. (iv) Defined benefit plan A defined benefit plan is a post-employment benefit plan other than defined contribution plans. The Group’s net obligation in respect of its defined benefit plan is calculated by estimating the amount of future benefit that employees have earned in return for their service in the current and prior periods; that benefit is discounted to determine its present value. The fair value of any plan assets is deducted. The calculation is performed annually by an independent actuary using the projected unit credit method. The discount rate is the yield at the reporting date on high quality corporate bonds that have maturity dates approximating the terms of the Group’s obligations and that are denominated in the same currency in which the benefits are expected to be paid. The underlying key assumptions may differ from actual developments due to changing market and economic conditions, and may lead to significant changes in our defined benefit plan. The Group recognizes all actuarial gains and losses arising from defined benefit plans in retained earnings immediately. The Group determines the net interest expense (income) on the net defined benefit liability (asset) for the period by applying the discount rate used to measure the defined benefit obligation at the beginning of the annual period to the then-net defined benefit liability (asset), taking into account any changes in the net defined benefit liability (asset) during the period as a result of contributions and benefit payments. Consequently, the net interest on the net defined benefit liability (asset) now comprises: interest cost on the defined benefit obligation, interest income on plan assets, and interest on the effect on the asset ceiling. When the benefits of a plan are changed or when a plan is curtailed, the resulting change in benefit that relates to past service or the gain or loss on curtailment is recognized immediately in profit or loss. The Group recognizes gains and losses on the settlement of a defined benefit plan when the settlement occurs. (v) Termination benefits The Group recognizes expense for termination benefits at the earlier of the date when the entity can no longer withdraw the offer of those benefits and when the entity recognizes costs for a restructuring involving the payment of termination benefits. If the termination benefits are not expected to be settled wholly before twelve months after the end of the annual reporting period, the Group measures the termination benefit with present value of future cash payments. 3. Material Accounting Policies, Continued |
Revenue from contracts with customers | (q) Revenue from contracts with customers Revenue from the sale of goods in the course of ordinary activities is measured at the fair value of the consideration received or receivable, net of estimated returns, trade discounts, volume rebates and other cash incentives paid to customers. The Group recognizes revenue according to the five stage revenue recognition model (① Identifying the contract→② Identifying performance obligations→③ Determining transaction price→④ Allocating the transaction price to performance obligations →⑤ Recognizing revenue for performance obligations). The Group generates revenue primarily from sale of display panels. Product revenue is recognized when a customer obtains control over the Group’s products, which typically occurs upon shipment or delivery depending on the terms of the contracts with the customer. The Group includes return option in the sales contract of display panels with its customers and the consideration receivable from the customer is subject to change due to returns. The Group estimates an amount of variable consideration by using the expected value method which the Group expects to better predict the amount of consideration. The Group includes in the transaction price an amount of variable consideration estimated only to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur during the return period when the uncertainty associated with the variable consideration is subsequently resolved. The Group recognizes a refund liability and an asset for its right to recover products from customers if the Group receives consideration from a customer and expects to refund some or all of that consideration to the customer. Sales taxes or value-added taxes collected from customers and remitted to governmental authorities are accounted for on a net basis and are excluded from revenues in the consolidated statement of comprehensive income (loss). |
Operating Segments | (r) Operating Segments An operating segment is a component of the Group that: 1) engages in business activities from which it may earn revenues and incur expenses, including revenues and expenses that relate to transactions with other components of the group, 2) whose operating results are reviewed regularly by the Group’s chief operating decision maker (“CODM”) in order to allocate resources and assess its performance, and 3) for which discrete financial information is available. Management has determined that the CODM of the Group is the Board of Directors. The CODM does not receive and therefore does not review discrete financial information for any component of the Group. Consequently, no operating segment information is included in these consolidated financial statements. Entity wide disclosures of geographic and product revenue information are provided in Note 17 to these consolidated financial statements. |
Finance Income and Finance Costs | (s) Finance Income and Finance Costs Finance income comprises interest income on funds invested (including debt instruments measured at FVOCI), dividend income, gains on disposal of debt instruments measured at FVOCI and changes in fair value of financial instruments at FVTPL. Interest income is recognized as it accrues in profit or loss, using the effective interest method. Dividend income is recognized in profit or loss on the date that the Group’s right to receive payment is established. Finance costs comprise interest expense on borrowings, unwinding of the discount on provisions, gain and losses from financial instruments measured at FVTPL and impairment losses recognized on financial assets. Borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset are capitalized as part of the cost of that asset. |
Income Tax | (t) Income Tax Income tax expense comprises current and deferred tax. Current tax and deferred tax are recognized in profit or loss except to the extent that it relates to a business combination, or items recognized directly in equity or in other comprehensive income. (i) Current tax Current tax comprises the expected tax payable or receivable on the taxable profit or loss for the year, using tax rates enacted or substantively enacted at the reporting date and any adjustment to tax payable in respect of previous years. The amount of current tax payable or receivable is the best estimate of the tax amount expected to be paid or received that reflects uncertainty related to income taxes, if any. The taxable profit is different from the accounting profit for the period since the taxable profit is calculated excluding the temporary differences, which will be taxable or deductible in determining taxable profit (tax loss) of future periods, and non-taxable or non-deductible items from the accounting profit. (ii) Deferred tax Deferred tax is recognized, using the asset and liability method, in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realized or the liability is settled, based on tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period. The measurement of deferred tax liabilities and deferred tax assets reflects the tax consequences that would follow from the manner in which the Group expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. The Group recognizes a deferred tax liability for all taxable temporary differences associated with investments in subsidiaries, associates, and interests in joint ventures, except to the extent that the Group is able to control the timing of the reversal of the temporary differences and it is probable that the temporary differences will not reverse in the foreseeable future. A deferred tax asset is recognized for all deductible temporary differences to the extent that it is probable that the differences relating to investments in subsidiaries, associates and joint ventures will reverse in the foreseeable future and taxable profit will be available against which the temporary difference can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized. The Group offsets deferred tax assets and deferred tax liabilities if, and only if the Group has a legally enforceable right to set off current tax assets against current tax liabilities and the deferred tax assets and the deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously. 3. Material Accounting Policies, Continued (t) Income Tax, Continued (ii) Deferred tax, Continued The changes in estimates of the ability to realize the deferred tax assets are generally recognized in profit or loss as a component of the income tax expense. At each reporting date, the Group reviews the deferred tax assets for recoverability considering historical profitability, projected future taxable income, the expected timing of reversals of existing temporary differences and expiration of unused tax losses and tax credits. |
Earnings Per Share | (u) Earnings (Loss) Per Share The Controlling Company presents basic and diluted earnings (loss) per share (“EPS”) data for its common shares. Basic EPS is calculated by dividing the profit or loss attributable to common shareholders of the Controlling Company by the weighted average number of common shares outstanding during the period. Diluted EPS is determined by adjusting the profit or loss attributable to common shareholders and the weighted average number of common shares outstanding, adjusted for the effects of all dilutive potential common shares such as convertible bonds and others. |
Accounting standards issued but not yet effective | (v) Accounting standards issued but not yet effective A number of new accounting standards are effective for annual periods beginning after January 1, 2023 and earlier application is permitted; However, the Group has not early adopted the following new or amended accounting standards in preparing these consolidated financial statements. (i) Classification of Liabilities as Current or Non-Current Liabilities with Covenants (Amendments to IAS 1, ‘ Presentation of Financial Statements ’) The amendments aim to clarify the requirements in determining whether a liability is current or non-current and require new disclosure for non-current liabilities that are subject to future covenants. The amendments are effective for annual reporting periods beginning on or after January 1, 2024. The Group has borrowings that are subject to specific covenants. The Group is in the process of assessing the impact of the amendments to meet the new disclosure requirements. (ii) Supplier Finance Arrangements (Amendments to IAS 7 ‘Statement of Cash Flows’ and IFRS 7 ‘Financial Instruments: Disclosures’) The amendments introduce new disclosure relating to supplier finance arrangements that assist users of the financial statements to assess the effects of these arrangements on an entity’s liabilities and cash flows and on the entity’s exposure to liquidity risk. The amendments are effective for annual reporting periods beginning on or after January 1, 2024. The Group participates in supply chain financing arrangements for which the new disclosures will apply. The Group is in the process of assessing the impact of the amendments to meet the new disclosure requirements. (iii) IFRS 18, ‘Presentation and Disclosure in Financial Statements’ On April 9, 2024, the IASB published IFRS 18 'Presentation and Disclosure in Financial Statements'.IFRS 18, which replaces IAS 1, ‘Presentation of Financial Statements’, introduces new disclosure requirements regarding the required presentation of 'operating profit', management performance measures and improvement on grouping information within the financial statements. IFRS 18 is effective for annual reporting periods beginning on or after January 1, 2027, with early adoption permitted. The Group is in the process of assessing the impact from meeting the new disclosure requirements. (iv) The following new and amended standards are not expected to have a significant impact on the Group’s consolidated financial statements. - Lease Liability in a Sale and Leaseback (Amendments to IFRS No. 16, ‘Lease’ .) - Lack of Exchangeability (Amendments to IAS No. 21, ‘The Effects of Changes in Foreign Exchange Rates’ .) |
Reporting Entity (Tables)
Reporting Entity (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Summary of Consolidated Subsidiaries | 1. Reporting Entity, Continued (b) Consolidated Subsidiaries as of Decembe r 31, 2023 Subsidiaries Location Percentage Fiscal Date of Business Capital stocks LG Display America, Inc. San Jose, 100 % December 31 September 24, 1999 Sell display products USD 411 LG Display Germany GmbH Eschborn, Germany 100 % December 31 October 15, 1999 Sell display products EUR 1 LG Display Japan Co., Ltd. Tokyo, Japan 100 % December 31 October 12, 1999 Sell display products JPY 95 LG Display Taiwan Co., Ltd. Taipei, Taiwan 100 % December 31 April 12,1999 Sell display products TWD 116 LG Display Nanjing Co., Ltd. Nanjing, China 100 % December 31 July 15, 2002 Manufacture display products CNY 3,020 LG Display Shanghai Co., Ltd. Shanghai, China 100 % December 31 January 16, 2003 Sell display products CNY 4 LG Display Guangzhou Guangzhou, China 100 % December 31 June 30, 2006 Manufacture display products CNY 1,655 LG Display Shenzhen Co., Ltd. Shenzhen, China 100 % December 31 July 27, 2007 Sell display products CNY 4 LG Display Singapore Pte. Ltd. Singapore 100 % December 31 November 4, 2008 Sell display products USD 1 L&T Display Technology Fujian, 51 % December 31 December 7, 2009 Manufacture and sell LCD module and LCD monitor sets CNY 116 LG Display Yantai Co., Ltd. Yantai, 100 % December 31 March 17, 2010 Manufacture display products CNY 1,008 Nanumnuri Co., Ltd. Gumi, 100 % December 31 March 21, 2012 Provide janitorial services KRW 800 LG Display (China) Co., Ltd. Guangzhou, China 70 % December 31 December 10, 2012 Manufacture and sell display products CNY 8,232 Unified Innovative Wilmington, U.S.A. 100 % December 31 March 12, 2014 Manage intellectual property USD 9 LG Display Guangzhou Guangzhou, China 100 % December 31 April 28, 2015 Sell display products CNY 1 Global OLED Technology, Sterling, U.S.A. 100 % December 31 December 18, 2009 Manage OLED intellectual property USD 138 LG Display Vietnam Haiphong Haiphong, 100 % December 31 May 5, 2016 Manufacture and sell display products USD 600 Suzhou Lehui Display Suzhou, China 100 % December 31 July 1, 2016 Manufacture and sell LCD module and LCD monitor sets CNY 637 LG DISPLAY FUND I LLC(*) Wilmington, U.S.A. 100 % December 31 May 1, 2018 Invest in venture business and acquire technologies USD 75 LG Display High-Tech (China) Guangzhou, China 70 % December 31 July 11, 2018 Manufacture and sell display products CNY 15,600 (*) For the year ended December 31, 2023, the Controlling Company contributed W 5,839 million in cash for the capital increase of LG DISPLAY FUND I LLC. There was no change in the Controlling 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 Controlling Company has invested W 92,900 million in MMT (Money Market Trust), which is controlled by the Controlling Company. 1. Reporting Entity, Continued |
Summary of Information of Subsidiaries having Significant Non controlling Interests | (c) Information of subsidiaries (before elimination of intercompany transactions) which have significant non-controlling interests as of and for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 LG Display (China) Co., Ltd. LG Display High-Tech Percentage of ownership in non-controlling interest(%) 30 30 Current assets ₩ 1,987,880 1,551,346 Non-current assets 663,181 5,252,614 Current liabilities 324,075 1,261,412 Non-current liabilities 31,466 2,452,327 Net assets 2,295,520 3,090,221 Book value of non-controlling interests 680,757 925,848 Revenue ₩ 2,175,878 2,817,308 Profit for the year 380,788 125,446 Profit attributable to non-controlling interests 114,301 37,803 Cash flows from operating activities ₩ 890,435 709,243 Cash flows from investing activities ( 619,615 ) ( 315,176 ) Cash flows from financing activities ( 439,390 ) ( 665,170 ) Effect of exchange rate fluctuations on cash held 23,538 19,972 Net decrease in cash and cash equivalents ( 145,032 ) ( 251,131 ) Cash and cash equivalents at January 1 276,802 290,461 Cash and cash equivalents at December 31 131,770 39,330 Dividends distributed to non-controlling interests ₩ — — (In millions of won) 2022 LG Display (China) Co., Ltd. LG Display High-Tech Percentage of ownership in non-controlling interest(%) 30 30 Current assets ₩ 1,916,867 2,112,295 Non-current assets 575,020 3,546,253 Current liabilities 336,575 820,041 Non-current liabilities 1,419 2,323,249 Net assets 2,153,893 2,515,258 Book value of non-controlling interests 646,199 753,191 Revenue ₩ 1,921,939 2,766,043 Profit(Loss) for the year 133,486 ( 561,016 ) Profit(Loss) attributable to non-controlling interests 39,981 ( 168,474 ) Cash flows from operating activities ₩ 486,103 153,043 Cash flows from investing activities ( 371,454 ) 424,405 Cash flows from financing activities ( 223,222 ) ( 455,746 ) Effect of exchange rate fluctuations on cash held 2,347 ( 7,471 ) Net increase (decrease) in cash and cash equivalents ( 106,226 ) 114,231 Cash and cash equivalents at January 1 131,770 39,330 Cash and cash equivalents at December 31 25,544 153,561 Dividends distributed to non-controlling interests ₩ 56,056 — 1. Reporting Entity, Continued (In millions of won) 2023 LG Display (China) Co., Ltd. LG Display High-Tech Percentage of ownership in non-controlling interest(%) 30 30 Current assets ₩ 1,908,790 3,796,310 Non-current assets 501,340 2,621,361 Current liabilities 275,264 978,596 Non-current liabilities 560 2,586,633 Net assets 2,134,306 2,852,442 Book value of non-controlling interests 640,322 854,346 Revenue ₩ 1,145,472 2,432,838 Profit for the year 108,801 374,836 Profit attributable to non-controlling interests 32,640 112,451 Cash flows from operating activities ₩ 426,643 777,354 Cash flows from investing activities ( 225,456 ) ( 979,167 ) Cash flows from financing activities ( 153,664 ) 365,898 Effect of exchange rate fluctuations on cash held ( 972 ) ( 3,571 ) Net increase in cash and cash equivalents 46,551 160,514 Cash and cash equivalents at January 1 25,544 153,561 Cash and cash equivalents at December 31 72,095 314,075 Dividends distributed to non-controlling interests ₩ 34,098 - |
Summary of Material Accounting
Summary of Material Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Estimated Useful Lives of Property, Plant and Equipment | Estimated useful lives of the assets are as follows: Estimated useful lives (years) Buildings and structures 20 ~ 40 Machinery 4 , 5 Furniture and fixtures 4 Equipment, tools and vehicles 2 , 4 , 12 Right-of-use assets (*) (*) The Group depreciates the right-of-use assets from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. |
Estimated Useful Lives of Intangible Assets, Other Than Goodwill | Estimated useful lives (years) Intellectual property rights 5 , 10 , (*1) Rights to use electricity, water and gas supply facilities 10 Software 4 , (*1) Customer relationships 7 , 10 Technology 10 Development costs (*2) Condominium and golf club memberships Indefinite (*1) Patent royalty (included in intellectual property rights) and software license are amortized over the useful lives considering the contract period. (*2) Capitalized development costs are amortized over the useful lives considering the life cycle of the developed products. Amortization of capitalized development costs are recognized in research and development expenses in the consolidated statement of comprehensive income (loss). |
Cash and Cash Equivalents and_2
Cash and Cash Equivalents and Deposits in Banks (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Summary of Cash and Cash Equivalents and Deposits in Banks | Cash and cash equivalents and deposits in banks as of December 31, 2022 and December 31, 2023 are as follows: (In millions of won) December 31, 2022 December 31, 2023 Current assets Cash and cash equivalents Cash ₩ 1,076 3 Deposits 1,823,573 2,257,519 ₩ 1,824,649 2,257,522 Deposits in banks Time deposits ₩ 267,163 900 Restricted deposits(*) 1,455,444 905,071 ₩ 1,722,607 905,971 Non-current assets Deposits in banks Restricted deposits(*) ₩ 11 11 (*) Includes funds deposited under agreements on mutually beneficial cooperation to aid LG Group companies’ suppliers, restricted deposits pledged to guarantee the Controlling Company and subsidiary’s borrowings and others. |
Trade Accounts and Notes Rece_2
Trade Accounts and Notes Receivable, Other Accounts Receivable and Others (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Summary of Trade Accounts and Notes Receivable | (a) Trade accounts and notes receivable as of December 31, 2022 and December 31, 2023 are as follows: (In millions of won) December 31, 2022 December 31, 2023 Due from third parties ₩ 2,042,746 2,827,163 Due from related parties 316,168 390,930 ₩ 2,358,914 3,218,093 |
Summary of Other Accounts Receivable | (b) Other accounts receivable as of December 31, 2022 and December 31, 2023 are as follows: (In millions of won) December 31, 2022 December 31, 2023 Current assets Non-trade receivables, net ₩ 146,921 112,739 Accrued income 22,505 14,246 ₩ 169,426 126,985 |
Aging of Trade Accounts and Notes Receivable, Other Accounts Receivable and Long-term Non-trade Receivable | (c) The aging of trade accounts and notes receivable, and other accounts receivable as of December 31, 2022 and December 31, 2023 are as follows: (In millions of won) December 31, 2022 Book value Allowance for impairment Trade accounts Other Trade accounts Other Current ₩ 2,332,769 166,067 ( 841 ) ( 1,721 ) 1-15 days past due 12,019 1,000 ( 4 ) ( 9 ) 16-30 days past due 2,256 - ( 1 ) - 31-60 days past due 391 201 - ( 1 ) More than 60 days past due 12,354 3,936 ( 29 ) ( 47 ) ₩ 2,359,789 171,204 ( 875 ) ( 1,778 ) (In millions of won) December 31, 2023 Book value Allowance for impairment Trade accounts Other Trade accounts Other Current ₩ 3,212,514 123,919 ( 932 ) ( 191 ) 1-15 days past due 3,077 1,357 ( 1 ) - 16-30 days past due 3,435 156 - ( 2 ) 31-60 days past due - 168 - ( 2 ) More than 60 days past due - 1,592 - ( 12 ) ₩ 3,219,026 127,192 ( 933 ) ( 207 ) |
Summary of Allowance for Impairment in Respect Of Trade Accounts and Notes Receivable and Other Accounts Receivable | The movement in the allowance for impairment in respect of trade accounts and notes receivable and other accounts receivable for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) Trade accounts and notes receivable 2021 2022 2023 Balance at the beginning of the year ₩ 1,047 1,204 875 (Reversal of) bad debt expense 157 ( 329 ) 58 Balance at the end of the year ₩ 1,204 875 933 (In millions of won) Other accounts receivable 2021 2022 2023 Balance at the beginning of the year ₩ 1,778 2,005 1,778 (Reversal of) bad debt expense 227 ( 227 ) ( 239 ) Write-off - - ( 1,332 ) Balance at the end of the year ₩ 2,005 1,778 207 |
Summary of Other Assets | (d) Other current assets as of December 31, 2022 and 2023 are as follows: (In millions of won) December 31, 2022 December 31, 2023 Advanced payments ₩ 22,134 1,675 Prepaid expenses 74,420 103,355 Value added tax refundable 220,182 143,608 Right to recover returned goods 8,155 5,121 ₩ 324,891 253,759 |
Other Financial Assets (Tables)
Other Financial Assets (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Summary of Other Financial Assets | Other financial assets as of December 31, 2022 and 2023 are as follows: (In millions of won) December 31, 2022 December 31, 2023 Current assets Financial assets at fair value through profit or loss Derivatives(*) ₩ 119,417 136,762 Financial assets carried at amortized cost Deposits ₩ 8,962 1,356 Short-term loans 30,062 26,375 Lease receivables 6,914 4,130 ₩ 45,938 31,861 ₩ 165,355 168,623 Non-current assets Financial assets at fair value through profit or loss Equity instruments ₩ 96,064 87,027 Convertible securities 1,797 3,127 Derivatives(*) 110,663 32,941 ₩ 208,524 123,095 Financial assets carried at amortized cost Deposits ₩ 17,624 17,022 Long-term loans 58,806 33,509 Lease receivables 4,144 — ₩ 80,574 50,531 ₩ 289,098 173,626 (*) Represents cross currency interest rate swap contracts and others entered into by the Group to hedge currency and interest rate risks with respect to foreign currency denominated borrowings and bonds. The contracts are not designated as hedging instruments. |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Summary of Inventories | Inventories as of December 31, 2022 and 2023 are as follows: (In millions of won) December 31, 2022 December 31, 2023 Finished goods ₩ 822,177 750,775 Work-in-process 1,235,363 1,145,606 Raw materials 651,602 457,356 Supplies 163,776 173,991 ₩ 2,872,918 2,527,728 |
Inventories Recognized as Cost of Sales and Inventory Write-downs Included in Cost of Sales and Usage of Inventory Write-downs | For the years ended December 31, 2021, 2022 and 2023, the amount of inventories recognized as cost of sales and inventory write-downs included in cost of sales and usage of inventory write-downs are as follows: (In millions of won) 2021 2022 2023 Inventories recognized as cost of sales ₩ 24,572,939 25,027,703 20,985,643 Including: Inventory write-downs 224,576 245,619 192,627 Usage of inventory write-downs 213,932 224,576 245,619 |
Investments in Equity Account_2
Investments in Equity Accounted Investees (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Summary of Consolidated Associates | (a) Associates as of December 31, 2022 and 2023 are as follows: (In millions of won) 2022 2023 Associates Location Fiscal year end Date of incorporation Business Percentage of ownership Carrying Percentage of ownership Carrying Paju Electric Paju, December 31 January Manufacture glass for display 40 % ₩ 42,784 40 % ₩ 24,200 WooRee E&L Ansan, December 31 June Manufacture LED back light unit packages 13 % 13,576 13 % 7,106 YAS Co., Ltd. Paju, December 31 April Develop and manufacture deposition equipment for OLEDs 15 % 28,976 16 % 28,564 AVATEC Co., Daegu, December 31 August Process and sell glass for display 14 % 20,133 14 % 20,871 Arctic Sentinel, Los Angeles, U.S.A. March 31 June Develop and manufacture 10 % — 10 % — Cynora GmbH Bruchsal, December 31 March Develop organic emitting materials for displays and lighting devices 11 % — 10 % — (In millions of won) 2022 2023 Associates Location Fiscal year end Date of incorporation Business Percentage of ownership Carrying Percentage of ownership Carrying Material Seoul, December 31 January Develop, manufacture, and sell materials for display 10 % ₩ 3,650 16 % ₩ 3,588 ₩ 109,119 ₩ 84,329 (*1) During 2023, the Controlling Company recognized an impairment loss of W 5,662 million as finance cost for the difference between the carrying amount and the recoverable amount of investments in WooRee E&L Co., Ltd. (*2) During 2023, the Controlling Company recognized an impairment loss of W 1,146 million as finance cost for the difference between the carrying amount and the recoverable amount of investments in Material Science Co., Ltd. (*3) During 2023, due to the investee’s acquisition of treasury shares, the Group's shareholding ratio increased from 10 % to 16 %. |
Summary of Financial Information of Significant Associates | (b) Summary of financial information of Paju Electric Glass Co., Ltd., a significant associate of the Group, as of December 31, 2022 and 2023 and for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) December 31, 2022 December 31, 2023 Total assets ₩ 136,784 109,992 Current assets 98,490 94,705 Non-current assets 38,294 15,287 Total liabilities 29,118 47,875 Current liabilities 28,332 47,459 Non-current liabilities 786 416 (In millions of won) 2021 2022 2023 Revenue ₩ 425,516 319,264 184,880 Profit(loss) for the year 13,364 6,192 ( 2,655 ) Other comprehensive loss ( 1,258 ) ( 10,216 ) ( 4,894 ) Total comprehensive income (loss) 12,106 ( 4,024 ) ( 7,549 ) |
Reconciliation from Financial Information of Significant Associate to its Carrying Value in Consolidated Financial Statements | (c) Reconciliation from financial information of the significant associate to its carrying value in the consolidated financial statements as of December 31, 2022 and 2023 are as follows: (i) As of December 31, 2022 (In millions of won) Net asset Ownership interest Net asset (applying ownership interest) Goodwill Intra-group transaction Impairment loss Book value Paju Electric ₩ 107,666 40 % 43,066 — ( 282 ) — 42,784 (ii) As of December 31, 2023 (In millions of won) Net asset Ownership interest Net asset (applying ownership interest) Goodwill Intra-group transaction Impairment loss Book value Paju Electric ₩ 62,117 40 % 24,847 — ( 647 ) — 24,200 (d) Book value of other associates, in aggregate, as of December 31, 2022 and 2023 are as follows: (i) As of December 31, 2022 (In millions of won) Net profit (loss) of associates (applying ownership interest) Book value Profit for the year Other comprehensive loss Total comprehensive loss Other associates ₩ 66,335 2,724 ( 7,516 ) ( 4,792 ) (ii) As of December 31, 2023 (In millions of won) Net profit (loss) of associates (applying ownership interest) Book value Profit for the year Other comprehensive loss Total comprehensive loss Other associates ₩ 60,129 ( 1,634 ) ( 722 ) ( 2,356 ) |
Changes in Investments in Associates and a Joint Venture Accounted for Using Equity Method | (e) Changes in investments in associates accounted for using the equity method for the years ended December 31, 2022 and 2023 are as follows: (In millions of won) 2022 Company January 1 Reclassification(*) Dividends received Equity income on investments Other comprehensive loss Other gain December 31 Associates Paju Electric ₩ 48,398 — ( 4,361 ) 2,834 ( 4,087 ) — 42,784 Others 78,321 ( 10,620 ) ( 100 ) 2,724 ( 7,516 ) 3,526 66,335 ₩ 126,719 ( 10,620 ) ( 4,461 ) 5,558 ( 11,603 ) 3,526 109,119 (*) During 2022, certain investment was reclassified into the financial asset at fair value through profit or loss as the Group lost its right to appoint members of the board of directors due to the changes in contractual arrangement. (In millions of won) 2023 Company January 1 Dividends received Equity income on investments Other comprehensive loss Other gain December 31 Associates Paju Electric Glass ₩ 42,784 ( 15,200 ) ( 1,427 ) ( 1,957 ) — 24,200 Others 66,335 — ( 1,634 ) ( 722 ) ( 3,850 ) 60,129 ₩ 109,119 ( 15,200 ) ( 3,061 ) ( 2,679 ) ( 3,850 ) 84,329 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Capitalized Borrowing Costs and Capitalization Rate | (c) Capitalized borrowing costs and capitalization rate for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 2022 2023 Capitalized borrowing costs ₩ 64,606 152,074 258,168 Capitalization rate 3.69 % 3.11 % 5.18 % |
Changes in Property, Plant and Equipment | (a) Changes in property, plant and equipment for the year ended December 31, 2022 are as follows: (In millions of won) Land Buildings and Machinery Furniture Construction-in- Right-of-use Others Total Acquisition cost ₩ 433,847 8,583,015 50,288,095 863,241 6,867,667 235,436 1,184,889 68,456,190 Accumulated depreciation — ( 4,068,333 ) ( 40,637,254 ) ( 675,638 ) — ( 111,382 ) ( 853,778 ) ( 46,346,385 ) Accumulated impairment — ( 209,152 ) ( 1,230,974 ) ( 8,484 ) ( 76,069 ) ( 4,188 ) ( 22,492 ) ( 1,551,359 ) Book value ₩ 433,847 4,305,530 8,419,867 179,119 6,791,598 119,866 308,619 20,558,446 Additions — — — — 5,709,828 72,567 — 5,782,395 Depreciation — ( 373,089 ) ( 3,182,783 ) ( 83,747 ) — ( 76,370 ) ( 269,796 ) ( 3,985,785 ) Disposals ( 3,573 ) — ( 172,547 ) ( 477 ) — — ( 36,958 ) ( 213,555 ) Impairment loss (*3) — ( 252,997 ) ( 672,061 ) ( 6,912 ) ( 292,564 ) ( 3,439 ) ( 29,282 ) ( 1,257,255 ) Others (*4) 45,771 196,747 1,732,712 78,497 ( 2,425,047 ) ( 420 ) 334,931 ( 36,809 ) Government grants received — — ( 57,503 ) — — — — ( 57,503 ) Effect of movements — 27,755 116,514 2,738 5,895 454 3,643 156,999 Book value as of ₩ 476,045 3,903,946 6,184,199 169,218 9,789,710 112,658 311,157 20,946,933 Acquisition cost as of ₩ 476,045 8,699,292 50,722,745 902,477 10,145,865 271,761 1,299,892 72,518,077 Accumulated depreciation ₩ — ( 4,348,201 ) ( 42,744,139 ) ( 719,862 ) — ( 151,550 ) ( 962,598 ) ( 48,926,350 ) Accumulated impairment ₩ — ( 447,145 ) ( 1,794,407 ) ( 13,397 ) ( 356,155 ) ( 7,553 ) ( 26,137 ) ( 2,644,794 ) (*1) As of December 31, 2022, construction-in-progress mainly relates to construction of manufacturing facilities. (*2) Others mainly consist of tools and equipment. (*3) During 2022, Display (Large OLED) CGU was assessed for impairment, and impairment losses amounting to W 1,236,563 million are recognized as other expenses (*4) Others mainly represent the reclassification of construction-in-progress to other property, plant and equipment. 9. Property, Plant and Equipment, Continued (b) Changes in property, plant and equipment for the year ended December 31, 2023 are as follows: (In millions of won) Land Buildings and Machinery Furniture Construction-in- Right-of-use Others Total Acquisition cost ₩ 476,045 8,699,292 50,722,745 902,477 10,145,865 271,761 1,299,892 72,518,077 Accumulated depreciation — ( 4,348,201 ) ( 42,744,139 ) ( 719,862 ) — ( 151,550 ) ( 962,598 ) ( 48,926,350 ) Accumulated impairment — ( 447,145 ) ( 1,794,407 ) ( 13,397 ) ( 356,155 ) ( 7,553 ) ( 26,137 ) ( 2,644,794 ) Book value ₩ 476,045 3,903,946 6,184,199 169,218 9,789,710 112,658 311,157 20,946,933 Additions — — — — 3,392,876 74,611 — 3,467,487 Depreciation — ( 376,264 ) ( 2,837,242 ) ( 75,727 ) — ( 68,349 ) ( 279,200 ) ( 3,636,782 ) Disposals ( 330 ) ( 758 ) ( 506,420 ) ( 1,896 ) — — ( 43,368 ) ( 552,772 ) Impairment loss (*3) — 8 ( 53,513 ) ( 6 ) — — ( 6,554 ) ( 60,065 ) Others (*4) ( 2,902 ) 1,494,070 3,963,010 60,585 ( 5,900,151 ) — 374,182 ( 11,206 ) Government grants received — — ( 7,417 ) — — — — ( 7,417 ) Effect of movements — 9,189 39,066 964 3,626 326 983 54,154 Book value as of ₩ 472,813 5,030,191 6,781,683 153,138 7,286,061 119,246 357,200 20,200,332 Acquisition cost as of ₩ 472,813 10,192,281 52,107,890 942,376 7,571,687 245,149 1,448,688 72,980,884 Accumulated depreciation ₩ — ( 4,715,087 ) ( 43,466,025 ) ( 775,953 ) — ( 119,804 ) ( 1,062,377 ) ( 50,139,246 ) Accumulated impairment ₩ — ( 447,003 ) ( 1,860,182 ) ( 13,285 ) ( 285,626 ) ( 6,099 ) ( 29,111 ) ( 2,641,306 ) (*1) As of December 31, 2023, construction-in-progress mainly relates to construction of manufacturing facilities. (*2) Others mainly consist of tools and equipment. (*3) Impairment losses of W 60,065 million are recognized for the difference between the carrying amount and the recoverable amount of property, plant and equipment. (*4) Others mainly represent the reclassification of construction-in-progress to other property, plant and equipment. 9. Property, Plant and Equipment, Continued |
Intangible Assets and Non-fin_2
Intangible Assets and Non-financial Assets Impairment (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Changes in Intangible Assets | (a) Changes in intangible assets for the year ended December 31, 2022 are as follows: (In millions of won) Intellectual Software Member- Development Construction- Customer Technology Good- Others Total Acquisition cost as of January 1, 2022 ₩ 1,873,027 1,261,232 30,742 1,771,383 19,562 59,176 12,763 106,334 13,081 5,147,300 Accumulated amortization as of ( 915,764 ) ( 1,023,062 ) — ( 1,318,476 ) — ( 37,491 ) ( 11,243 ) — ( 13,081 ) ( 3,319,117 ) Accumulated impairment loss as of ( 28,945 ) ( 9,309 ) ( 1,659 ) ( 63,692 ) — ( 21,685 ) — ( 57,995 ) — ( 183,285 ) Book value as of January 1, 2022 ₩ 928,318 228,861 29,083 389,215 19,562 — 1,520 48,339 — 1,644,898 Additions - internally developed — — — 502,755 — — — — — 502,755 Additions - external purchases 187,114 24,741 7,004 — 95,179 — — — — 314,038 Amortization (*1) ( 192,983 ) ( 105,615 ) — ( 272,102 ) — — ( 168 ) — — ( 570,868 ) Disposals — ( 977 ) ( 10,608 ) — — — — — — ( 11,585 ) Impairment loss (*3)(*4) ( 34,901 ) ( 17,799 ) ( 42 ) ( 54,649 ) — — ( 43 ) ( 26,963 ) — ( 134,397 ) Transfer from construction-in-progress — 85,319 — — ( 85,319 ) — — — — — Effect of movements in exchange rates 10,108 ( 2,957 ) 33 — ( 1,253 ) — — 2,185 — 8,116 Book value as of December 31, 2022 ₩ 897,656 211,573 25,470 565,219 28,169 — 1,309 23,561 — 1,752,957 Acquisition cost as of December 31, 2022 ₩ 2,074,083 1,340,637 27,170 2,016,477 28,169 59,176 12,763 108,519 13,081 5,680,075 Accumulated amortization as of ₩ ( 1,115,014 ) ( 1,108,459 ) — ( 1,358,446 ) — ( 37,491 ) ( 11,411 ) — ( 13,081 ) ( 3,643,902 ) Accumulated impairment loss as of ₩ ( 61,413 ) ( 20,605 ) ( 1,700 ) ( 92,812 ) — ( 21,685 ) ( 43 ) ( 84,958 ) — ( 283,216 ) (*1) The Group has classified the amortization as manufacturing overhead costs, selling expenses, administrative expenses and research and development expenses. (*2) Others mainly consist of rights to use electricity and gas supply facilities. (*3) During 2022, Display (Large OLED) CGU was assessed for impairment, and impairment losses amounting to W 93,966 million are recognized as other expenses. The impairment amount is allocated to goodwill, development costs, intellectual property rights and others. (*4) The Group recognized an impairment loss amounting to W 33,386 million for development projects which are not likely to generate revenue. 10. Intangible Assets and Non-financial Assets Impairment, Continued (b) Changes in intangible assets for the year ended December 31, 2023 are as follows: (In millions of won) Intellectual Software Member- Development Construction- Customer Technology Good- Others Total Acquisition cost as of January 1, 2023 ₩ 2,074,083 1,340,637 27,170 2,016,477 28,169 59,176 12,763 108,519 13,081 5,680,075 Accumulated amortization as of ( 1,115,014 ) ( 1,108,459 ) — ( 1,358,446 ) — ( 37,491 ) ( 11,411 ) — ( 13,081 ) ( 3,643,902 ) Accumulated impairment loss as of ( 61,413 ) ( 20,605 ) ( 1,700 ) ( 92,812 ) — ( 21,685 ) ( 43 ) ( 84,958 ) — ( 283,216 ) Book value as of January 1, 2023 ₩ 897,656 211,573 25,470 565,219 28,169 — 1,309 23,561 — 1,752,957 Additions - internally developed — — — 493,608 — — — — — 493,608 Additions - external purchases 118,344 — — — 117,443 — — — — 235,787 Amortization (*1) ( 187,819 ) ( 105,285 ) — ( 363,162 ) — — ( 163 ) — — ( 656,429 ) Disposals ( 202 ) ( 396 ) ( 3,796 ) — — — — — — ( 4,394 ) Impairment loss (*3) ( 1,633 ) ( 425 ) — ( 52,775 ) — — — — — ( 54,833 ) Reversal of impairment loss — — 242 — — — — — — 242 Transfer from construction-in-progress — 115,275 — ( 1,429 ) ( 112,568 ) — — — — 1,278 Effect of movements in exchange rates 2,433 2,712 6 — ( 8 ) — — 596 — 5,739 Book value as of December 31, 2023 ₩ 828,779 223,454 21,922 641,461 33,036 — 1,146 24,157 — 1,773,955 Acquisition cost as of December 31, 2023 ₩ 2,189,071 1,403,157 23,463 2,295,468 33,036 59,176 12,763 109,115 13,081 6,138,330 Accumulated amortization as of ₩ ( 1,299,655 ) ( 1,160,702 ) — ( 1,509,575 ) — ( 37,491 ) ( 11,574 ) — ( 13,081 ) ( 4,032,078 ) Accumulated impairment loss as of ₩ ( 60,637 ) ( 19,001 ) ( 1,541 ) ( 144,432 ) — ( 21,685 ) ( 43 ) ( 84,958 ) — ( 332,297 ) (*1) The Group has classified the amortization as manufacturing overhead costs, selling expenses, administrative expenses and research and development expenses. (*2) Others mainly consist of rights to use electricity and gas supply facilities. (*3) The Group recognized an impairment loss amounting to W 52,775 million for development projects which are not likely to generate revenue. |
Summary of Development Costs and Intellectual Property Rights | (c) Development costs and Intellectual property rights as of December 31, 2022 and 2023 are as follows: Development costs (i) As of December 31, 2022 (In millions of won) Classification Product type Book Value TV ₩ 55,187 Development completed IT 24,684 Mobile and others 199,552 ₩ 279,423 TV ₩ 60,376 Development in process IT 100,380 Mobile and others 125,040 ₩ 285,796 ₩ 565,219 (ii) As of December 31, 2023 (In millions of won) Classification Product type Book Value TV ₩ 43,956 Development completed IT 63,049 Mobile and others 190,487 ₩ 297,492 TV ₩ 46,368 Development in process IT 175,023 Mobile and others 122,578 ₩ 343,969 ₩ 641,461 10. Intangible Assets and Non-financial Assets Impairment, Continued Intellectual property rights (i) As of December 31, 2022 (In millions of won and in years) Classification Category Book Value Remaining Direct additions ₩ 198,136 7.2 Patent Licenses agreement(*2) 697,605 6.0 ₩ 895,741 Other 1,915 3.6 ₩ 897,656 (*1) Weighted average of the remaining useful life at the end of the reporting period as each patent has a different remaining amortization period. (*2) The Group’s rights under contracts with the patent company. (ii) As of December 31, 2023 (In millions of won and in years) Classification Category Book Value Remaining Direct additions ₩ 214,634 7.1 Patent Licenses agreement(*2) 611,801 5.5 ₩ 826,435 Other 2,344 3.6 ₩ 828,779 (*1) Weighted average of the remaining useful life at the end of the reporting period as each patent has a different remaining amortization period. (*2) The Group’s rights under contracts with the patent company. |
Schedule of inputs used in measurement of CGU | As of December 31, 2022, the Group’s cash-generating units consist of Display CGU, Display (Large OLED) CGU and Display (AD PO) CGU. Changes in the carrying amount of goodwill allocated to the related CGUs are as follows: (In millions of won) 2022 December 31, 2021 Effect of movements Changes in CGU (*) Impairment December 31, 2022 Display CGU ₩ 48,339 2,185 ( 26,963 ) — 23,561 Display (Large OLED) CGU — — 26,963 ( 26,963 ) — ₩ 48,339 2,185 — ( 26,963 ) 23,561 (*) During 2022, a portion of goodwill allocated to Display CGU as of December 31, 2021 was re-allocated to Display (Large OLED) CGU. (ii) Impairment assessment on CGU As of December 31, 2022, the Group performed impairment tests for Display CGU and Display (Large OLED) CGU. No impairment test was performed for Display (AD PO) CGU, impairment loss for which was initially recognized in 2019, as there was no indicator of impairment or reversal identified during 2022. 10. Intangible Assets and Non-financial Assets Impairment, Continued (d) Impairment assessment on CGU as of December 31, 2022, Continued The recoverable amount of each CGU is determined based on its value in use. Value in use is calculated using the estimated cash flow based on 5-year business plan approved by management. The estimated revenue and operating expenditures of the Group’s products used in the forecast was determined considering external sources and the Group’s past experience. Management estimated the future cash flows based on its past performance and forecasts on market growth. The key assumptions used in the estimation of value in use for Display CGU and Display (Large OLED) CGU include revenue and operating expenditures for the forecast period, growth rates for subsequent years (“terminal growth rate”), and discount rate. Terminal growth rate and the discount rate used in the estimation of value in use are as follows. Pre-tax Post-tax Terminal 2021 Display CGU 10.5 % 8.4 % 1.0 % 2022 Display CGU 10.8 % 9.0 % 1.0 % Display (Large OLED) CGU 10.5 % 9.0 % 1.0 % (*) The discount rate was calculated using the weighted average cost of equity capital and debt and the beta of equity capital was calculated as the average of five global listed companies in the same industry and the Group. Cost of debt was calculated using the yield rate of non-guaranteed corporate bond considering the Group's credit rating and debt ratio was determined using the average of the debt ratios of the five global listed companies in the same industry and the Group. The Group calculates the value in use of each CGU using post-tax cash flows and a post-tax discount rate, and the result is not significantly different from the value in use calculated using pre-tax cash flows and pre-tax discount rate. As of December 31, 2023, the Group’s cash-generating units consist of Display CGU, Display (Large OLED) CGU and Display (AD PO) CGU. As of December 31, 2023, the Group performed impairment assessment for Display CGU. All the goodwill balance as of December 31, 2023 is allocated to the Display CGU. The recoverable amount of Display CGU is determined based on its value in use. Value in use is calculated using the estimated cash flow based on 5-year business plan approved by management. The estimated revenue and operating expenditures of the Group’s products used in the forecast was determined considering external sources and the Group’s historical experience. Management estimated the future cash flows based on its past performance and forecasts on market growth. The key assumptions used in the estimation of value in use for Display CGU include revenue and operating expenditures for the forecast period and discount rate. Growth rates for subsequent years(“Terminal growth rate”) and the discount rate used in the estimation of value in use are as follows. Pre-tax Post-tax Terminal 2022 Display CGU 10.8 % 9.0 % 1.0 % 2023 Display CGU 10.9 % 9.0 % 1.0 % (*) The discount rate was calculated using the weighted average cost of equity capital and debt and the beta of equity capital was calculated as the average of five global listed companies in the same industry and the Group. Cost of debt was calculated using the yield rate of non-guaranteed corporate bond considering the Group's credit rating and debt ratio was determined using the average of the debt ratios of the five global listed companies in the same industry and the Group. The Group calculates the value in use of the CGU using post-tax cash flows and a post-tax discount rate, and the result is not significantly different from the value in use calculated using pre-tax cash flows and pre-tax discount rate. |
Investment Property (Tables)
Investment Property (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Summary of Changes in Investment Property | (a) Changes in investment property for the year ended December 31, 2022 and 2023 are as follows: (In millions of won) 2022 2023 Book value as of January 1 ₩ — 28,269 Transfer from property, plant and equipment 36,809 9,928 Depreciation ( 804 ) ( 4,962 ) Impairment loss ( 7,736 ) — Others — ( 240 ) Book value as of December 31 ₩ 28,269 32,995 |
Financial Liabilities (Tables)
Financial Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of financial liabilities [line items] | |
Summary of Financial Liabilities | (a) Financial liabilities as of December 31, 2022 and 2023 are as follows: (In millions of won) December 31, 2022 December 31, 2023 Current Short-term borrowings ₩ 2,578,552 1,875,635 Current portion of long-term borrowings 2,538,917 2,934,693 Current portion of bonds 316,648 369,716 Derivatives(*1) 14,443 26,193 Fair value hedging derivatives(*2) — 7,392 Lease liabilities 40,694 48,666 ₩ 5,489,254 5,262,295 Non-current Long-term borrowings ₩ 8,425,195 10,230,658 Bonds 1,132,098 1,118,427 Derivatives (*1) 32,965 37,333 Fair value hedging derivatives (*2) — 28,660 Lease liabilities 32,094 24,698 ₩ 9,622,352 11,439,776 (*1) Represents cross currency interest rate swap contracts and others entered into by the Group to hedge currency and interest rate risks with respect to foreign currency denominated borrowings and bonds. The contracts are not designated as hedging instruments. (*2) Represents forward exchange contracts entered into by the Group to hedge exchange rate risks with respect to advances received in foreign currency. The contracts are designated as hedging instruments. |
Bonds issued and outstanding [member] | |
Disclosure of financial liabilities [line items] | |
Summary of Debt Instrument | (e) Details of bonds issued and outstanding as of December 31, 2022 and 2023 are as follows: (In millions of won and USD) Maturity Annual interest rate December 31, December 31, Won denominated bonds at Publicly issued bonds February 2024 ~ February 2027 2.29 ~ 3.66 ₩ 1,215,000 1,025,000 Privately issued bonds January 2025 ~ January 2026 7.20 ~ 7.25 110,000 337,000 Less discount on bonds ( 2,927 ) ( 2,120 ) Less current portion ( 189,975 ) ( 369,716 ) ₩ 1,132,098 990,164 Foreign currency denominated Privately issued bonds April 2026 7.29 ₩ 126,730 128,940 Foreign currency equivalent (contractual USD 100 USD 100 Less discount on bonds ( 57 ) ( 677 ) Foreign currency equivalent (discount USD ( 0 ) USD ( 1 ) Less current portion ( 126,673 ) — ₩ — 128,263 ₩ 1,132,098 1,118,427 (*1) Principal of the won denominated bonds is to be repaid at maturity and interests are paid quarterly. (*2) Principal of the foreign currency denominated bonds is to be repaid at maturity and interests are paid quarterly. |
Long-term borrowings [Member] | |
Disclosure of financial liabilities [line items] | |
Summary of Debt Instrument | (c) Won denominated long-term borrowings as of December 31, 2022 and 2023 are as follows: (In millions of won) Lender Annual December 31, 2022 December 31, 2023 LG Electronics Inc. 6.06 ₩ — 1,000,000 Korea Development Bank and others 1.90 ~ 7.50 2,986,102 3,490,967 Less current portion of long-term borrowings ₩ ( 1,341,500 ) ( 776,000 ) ₩ 1,644,602 3,714,967 (d) Foreign currency denominated long-term borrowings as of December 31, 2022 and 2023 are as follows: (In millions of won, USD and CNY) Lender Annual December 31, 2022 December 31, 2023 KEB Hana Bank and others 1.82 ~ 8.60 ₩ 7,978,010 8,674,384 Foreign currency equivalent USD 3,494 USD 3,222 CNY 19,569 CNY 24,991 Less current portion of long-term borrowings ₩ ( 1,197,417 ) ( 2,158,693 ) ₩ 6,780,593 6,515,691 |
Short-term borrowings [member] | |
Disclosure of financial liabilities [line items] | |
Summary of Debt Instrument | (b) Short-term borrowings as of December 31, 2022 and 2023 are as follows. (In millions of won, USD and CNY) Lender Annual December 31, December 31, Standard Chartered Bank Korea Limited and others 3.40 ~ 6.95 ₩ 2,578,552 1,875,635 Foreign currency equivalent USD 1,252 USD 747 CNY 1,000 CNY 345 |
Employee Benefits (Tables)
Employee Benefits (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of defined benefit plans [line items] | |
Net Defined Benefit Liabilities, Changes in Present Value of Defined Benefit Obligations and Changes in Fair Value of Plan Assets | (a) Net defined benefit liabilities (defined benefit assets) recognized as of December 31, 2022 and 2023 are as follows: (In millions of won) December 31, 2022 December 31, 2023 Present value of partially funded defined benefit obligations ₩ 1,602,697 1,491,146 Fair value of plan assets ( 2,048,687 ) ( 1,897,025 ) ₩ ( 445,990 ) ( 405,879 ) Defined benefit liabilities, net ₩ 1,531 1,559 Defined benefit assets, net ₩ 447,521 407,438 |
Details of Plan Assets | (d) Plan assets as of December 31, 2022 and 2023 are as follows: (In millions of won) December 31, 2022 December 31, 2023 Guaranteed deposits in banks ₩ 2,048,687 1,897,025 |
Expenses Recognized in Profit or Loss and Line Items Included in Consolidated Statements of Comprehensive Income | (e) Expenses related to defined benefit plans recognized in profit or loss for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 2022 2023 Current service cost ₩ 150,136 173,534 173,879 Net interest cost ( 5,895 ) ( 5,274 ) ( 23,942 ) ₩ 144,241 168,260 149,937 Expenses are recognized in the consolidated statements of comprehensive income (loss) as follows: (In millions of won) 2021 2022 2023 Cost of sales ₩ 110,750 128,706 114,226 Selling expenses 6,631 8,017 7,138 Administrative expenses 16,496 18,780 16,865 Research and development expenses 10,364 12,757 11,708 ₩ 144,241 168,260 149,937 |
Remeasurements of Net Defined Benefit Liabilities (Assets) Included in Other Comprehensive Income (Loss) | (f) Remeasurements of net defined benefit liabilities (assets) included in other comprehensive income (loss) for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 2022 2023 Balance at January 1 ₩ 38,154 ( 125,293 ) ( 2,900 ) Remeasurements Actuarial profit or loss arising from: Experience adjustment ( 124,974 ) ( 83,376 ) 66,461 Demographic assumptions ( 7,206 ) ( 8,020 ) ( 85 ) Financial assumptions ( 73,138 ) 287,304 ( 871 ) Return on plan assets ( 15,483 ) ( 30,044 ) ( 870 ) Group’s share of associates regarding remeasurements ( 84 ) 32 170 ₩ ( 220,885 ) 165,896 64,805 Income tax ₩ 57,438 ( 43,503 ) ( 14,818 ) Balance at December 31 ₩ ( 125,293 ) ( 2,900 ) 47,087 13. Employee Benefits, Continued |
Principal Actuarial Assumptions | December 31, 2022 December 31, 2023 Expected rate of salary increase 4.7 % 4.0 % Discount rate for defined benefit obligations 5.4 % 4.6 % Assumptions regarding future mortality are based on published statistics and mortality tables. The current mortality underlying the values of the liabilities in the defined benefit plans are as follows: December 31, 2022 December 31, 2023 Teens Males 0.00 % 0.00 % Females 0.00 % 0.00 % Twenties Males 0.01 % 0.01 % Females 0.00 % 0.00 % Thirties Males 0.01 % 0.01 % Females 0.00 % 0.00 % Forties Males 0.02 % 0.02 % Females 0.01 % 0.01 % Fifties Males 0.04 % 0.04 % Females 0.02 % 0.02 % |
Amounts of Defined Benefit Obligations Affected by Reasonably Possible Changes to Respective Relevant Actuarial Assumptions | (In millions of won) Defined benefit obligations 1% increase 1% decrease Discount rate for defined benefit obligations ₩ ( 157,102 ) 184,374 Expected rate of salary increase 192,107 ( 165,703 ) |
Defined benefit obligations [member] | |
Disclosure of defined benefit plans [line items] | |
Net Defined Benefit Liabilities, Changes in Present Value of Defined Benefit Obligations and Changes in Fair Value of Plan Assets | (b) Changes in the present value of the defined benefit obligations for the years ended December 31, 2022 and 2023 are as follows: (In millions of won) 2022 2023 Defined benefit obligations at January 1 ₩ 1,684,096 1,602,697 Current service cost 173,534 173,879 Interest cost 59,104 83,793 Remeasurements (before tax) ( 195,908 ) ( 65,505 ) Benefit payments ( 116,472 ) ( 287,100 ) Net transfers from (to) related parties ( 1,363 ) ( 16,551 ) Others ( 294 ) ( 67 ) Defined benefit obligations at December 31 ₩ 1,602,697 1,491,146 |
Fair value of plan assets [member] | |
Disclosure of defined benefit plans [line items] | |
Net Defined Benefit Liabilities, Changes in Present Value of Defined Benefit Obligations and Changes in Fair Value of Plan Assets | (c) Changes in fair value of plan assets for the years ended December 31, 2022 and 2023 are as follows: (In millions of won) 2022 2023 Fair value of plan assets at January 1 ₩ 1,750,783 2,048,687 Expected return on plan assets 64,378 107,735 Remeasurements (before tax) ( 30,044 ) ( 870 ) Contributions by employer directly to plan assets 371,398 2,219 Benefit payments ( 107,828 ) ( 260,528 ) Net transfers from (to) related parties — ( 218 ) Fair value of plan assets at December 31 ₩ 2,048,687 1,897,025 |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Changes in Provisions | (a) Changes in provisions for the year ended December 31, 2022 are as follows: (In millions of won) Litigation Warranties (*) Others Total Balance at January 1, 2022 ₩ — 257,126 9,247 266,373 Additions (reversal) 1,680 251,395 ( 816 ) 252,259 Usage — ( 259,153 ) — ( 259,153 ) Balance at December 31, 2022 ₩ 1,680 249,368 8,431 259,479 Current ₩ 1,680 163,211 8,431 173,322 Non-current ₩ — 86,157 — 86,157 (*) Product warranties on defective products are normally applicable for warranty periods from the date of customer’s purchase. The provision is calculated by using historical and anticipated rates of warranty claims, and costs per claim to satisfy the Group’s warranty obligation. (b) Changes in provisions for the year ended December 31, 2023 are as follows: (In millions of won) Litigation Warranties (*) Others Total Balance at January 1, 2023 ₩ 1,680 249,368 8,431 259,479 Additions (reversal) 126 101,846 ( 2,551 ) 99,421 Usage — ( 177,419 ) — ( 177,419 ) Balance at December 31, 2023 ₩ 1,806 173,795 5,880 181,481 Current ₩ 1,806 109,990 5,880 117,676 Non-current ₩ — 63,805 — 63,805 (*) Product warranties on defective products are normally applicable for warranty periods from the date of customer’s purchase. The provision is calculated by using historical and anticipated rates of warranty claims, and costs per claim to satisfy the Group’s warranty obligation. |
Contingent Liabilities and Co_2
Contingent Liabilities and Commitments (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Maximum Amount of Accounts Receivables Sales and Amount of Sold Accounts Receivables before Maturity by Contract | (In millions of USD and won) Classification Financial institutions Credit limit Not yet due Contractual amount KRW equivalent Contractual amount KRW equivalent Controlling Company Sumitomo Mitsui Banking USD 20 25,788 — — MUFG Bank USD 180 232,092 USD 3 3,815 BNP Paribas USD 15 19,341 — — ING Bank USD 40 51,576 USD 7 9,026 USD 255 328,797 USD 10 12,841 Subsidiaries LG Display Singapore Standard Chartered Bank USD 100 128,940 — — United Overseas Bank USD 150 193,410 USD 50 64,478 JPMorgan Chase Bank, USD 50 64,470 — — Credit Agricole Corporate USD 300 386,820 — — ING Bank USD 50 64,470 — — LG Display Taiwan BNP Paribas USD 15 19,341 — — Australia and New USD 160 206,304 USD 39 50,159 LG Display Germany BNP Paribas USD 135 174,069 USD 55 70,906 LG Display America, Hong Kong & Shanghai USD 400 515,760 USD 200 257,881 Standard Chartered Bank USD 1,000 1,289,400 USD 868 1,119,287 ING Bank USD 150 193,410 USD 30 38,735 LG Display Japan Co., Standard Chartered Bank USD 120 154,728 USD 20 25,790 Chelsea Capital USD 20 25,788 — — LG Display Guangzhou KEB Hana Bank (China) USD 30 38,682 USD 20 25,797 USD 2,680 3,455,592 USD 1,282 1,653,033 USD 2,935 3,784,389 USD 1,292 1,665,874 |
Letters of Credit from Financial Institutions and Respective Credit Limits | As of December 31, 2023, the Group entered into agreements with financial institutions in relation to the opening of letters of credit and the respective credit limits under the agreements are as follows: (In millions of USD and won) Contractual amount KRW equivalent KEB Hana Bank USD 450 ₩ 580,230 Industrial Bank of Korea USD 450 580,230 Industrial and Commercial Bank of China USD 200 257,880 Shinhan Bank USD 70 90,258 KB Kookmin Bank USD 700 902,580 MUFG Bank USD 100 128,940 The Export–Import Bank of Korea USD 100 128,940 USD 2,070 ₩ 2,669,058 |
Summary of Pledged Assets | The pledged assets has provided by the Group are as follows: (In millions of won, USD and CNY) Pledged Assets Carrying Maximum bond Secured creditor Borrowing Property, plant and equipment and others ₩ 507,234 1,200,000 LG Electronics Inc. 1,000,000 89,703 326,400 Korea Development Bank and others 272,000 264,335 780,000 Korea Development Bank and others 200,000 711,885 — China Construction Bank Corporation and others CNY 9,330 Deposits in banks and others CNY 5,825 1,053,338 Shinhan Bank and others USD 400 450,000 |
Share Capital, Share Premium _2
Share Capital, Share Premium and Reserves (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Summary of Reserves at Reporting Date | Reserves as of December 31, 2022 and 2023 are as follows: (In millions of won) December 31, 2022 December 31, 2023 Foreign currency translation differences for ₩ 509,620 548,792 Other comprehensive loss from associates ( 29,992 ) ( 32,816 ) ₩ 479,628 515,976 16. Share Capital, Share Premium and Reserves, Continued |
Change in Reserves | The movement in reserves for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) Loss on valuation of derivatives Foreign currency translation differences for foreign operations Other comprehensive income (loss) from associates (excluding remeasurements) Total January 1, 2021 ₩ — ( 138,667 ) ( 24,779 ) ( 163,446 ) Change in reserves ( 9,227 ) 705,318 4,497 700,588 December 31, 2021 ( 9,227 ) 566,651 ( 20,282 ) 537,142 January 1, 2022 ( 9,227 ) 566,651 ( 20,282 ) 537,142 Change in reserves 9,227 ( 57,031 ) ( 9,710 ) ( 57,514 ) December 31, 2022 — 509,620 ( 29,992 ) 479,628 January 1, 2023 — 509,620 ( 29,992 ) 479,628 Change in reserves — 39,172 ( 2,824 ) 36,348 December 31, 2023 ₩ — 548,792 ( 32,816 ) 515,976 |
Geographic and Other Informat_2
Geographic and Other Information (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Revenue and Non-current Assets by Geography | The following is a summary of the Group’s operation by region based on the location of customers for the years ended December 31, 2021, 2022 and 2023. (a) Revenue by geography (In millions of won) 2021 2022(*) 2023 Domestic ₩ 632,531 678,246 633,529 Foreign China 19,866,707 17,434,407 14,704,357 Asia (excluding China) 3,256,126 2,796,648 2,397,980 Americas 3,263,055 3,078,924 2,079,628 Europe (excluding Poland) 1,159,669 988,566 613,924 Poland 1,699,955 1,387,946 901,401 ₩ 29,245,512 25,686,491 20,697,290 ₩ 29,878,043 26,364,737 21,330,819 (*) Revenue for 2022 excludes W 212,956 million of forward exchange hedging loss which was reclassified from accumulated other comprehensive income to revenue when the sales from the hedged forecast transactions are recognized. Sales to Company A and Company B amount to W 11,119,769 million and W 3,371,229 million, respectively, for the year ended December 31, 2023 (2021: W 12,019,534 million and W 5,924,262 million, 2022: W 11,731,702 million and W 4,699,282 million, respectively). The Group’s top ten end-brand customers together accounted for 87 % of sales for the year ended December 31, 2023 (2021: 86 %, 2022: 86 %). 17. Geographic and Other Information, Continued (b) Non-current assets by geography (In millions of won) December 31, 2022 December 31, 2023 Property, plant and equipment Intangible Investment Property Property, plant and equipment Intangible Investment Property Domestic ₩ 14,042,794 1,633,866 28,269 13,583,136 1,683,116 32,995 Foreign China 4,302,527 53,388 — 3,358,395 32,009 — Vietnam 2,590,438 20,315 — 3,244,729 31,472 — Others 11,174 45,388 — 14,072 27,358 — ₩ 6,904,139 119,091 — 6,617,196 90,839 — ₩ 20,946,933 1,752,957 28,269 20,200,332 1,773,955 32,995 |
Revenue by Product and Services | (c) Revenue by product and services (In millions of won) 2021 2022(*) 2023 TV ₩ 9,466,192 6,975,269 4,331,474 IT 12,458,740 11,197,954 7,853,034 Mobile and others 7,953,111 8,191,514 9,146,311 ₩ 29,878,043 26,364,737 21,330,819 (*) Revenue for 2022 excludes W 212,956 million of forward exchange hedging loss which was reclassified from accumulated other comprehensive income to revenue when the sales from the hedged forecast transactions are recognized. The proportion of revenue from OLED products to total revenue disclosed above was 36 %, 40 % and 48 % for the years ended December 31, 2021, 2022 and 2023, respectively. |
The Nature of Expenses and Ot_2
The Nature of Expenses and Others (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Classification of Expenses by Nature | The classification of expenses by nature for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 2022 2023 Changes in inventories ₩ ( 1,179,232 ) 477,457 345,190 Purchases of raw materials, merchandise 15,207,659 13,521,132 10,810,985 Depreciation and amortization 4,500,701 4,557,457 4,213,742 Outsourcing 776,755 1,096,681 922,565 Labor 3,795,943 3,669,275 3,439,608 Supplies and others 1,235,473 1,212,142 938,568 Utility 1,029,953 1,189,105 1,193,025 Fees and commissions 789,885 834,449 704,763 Shipping 345,204 276,253 124,770 Advertising 126,335 108,315 76,404 Warranty 216,873 251,395 101,846 Travel 59,519 66,428 66,201 Taxes and dues 141,131 144,038 129,784 Others 720,467 2,322,067 1,043,238 ₩ 27,766,666 29,726,194 24,110,689 Total expenses consist of cost of sales, selling and administrative expenses, research and development expenses and other expenses, excluding foreign exchange differences. |
Selling and Administrative Ex_2
Selling and Administrative Expenses (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Details of Selling and Administrative Expenses | Details of selling and administrative expenses for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 2022 2023 Salaries ₩ 387,414 354,709 372,966 Expenses related to defined benefit plans 22,859 26,872 24,822 Other employee benefits 86,757 91,396 86,692 Shipping 298,684 213,613 91,960 Fees and commissions 248,478 272,337 253,495 Depreciation 267,042 263,739 264,982 Taxes and dues 74,542 69,851 65,528 Advertising 126,335 108,315 76,404 Warranty 216,873 251,395 101,846 Insurance 16,654 15,100 13,610 Travel 6,935 17,912 18,421 Training 15,556 15,458 9,775 Others 84,323 126,022 95,186 ₩ 1,852,452 1,826,719 1,475,687 |
Personnel Expenses (Tables)
Personnel Expenses (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Details of Personnel Expenses | Details of personnel expenses for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 2022 2023 Salaries and wages ₩ 3,138,798 2,975,325 2,850,927 Other employee benefits 589,598 652,915 613,072 Contributions to National Pension plan 68,962 77,062 81,625 Expenses related to defined benefit plans 144,739 169,362 158,756 ₩ 3,942,097 3,874,664 3,704,380 |
Other Income and Other Expens_2
Other Income and Other Expenses (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Summary of Other Income | (a) Details of other income for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 2022 2023 Foreign currency gain ₩ 1,210,689 3,098,553 1,398,181 Gain on disposal of property, plant and 19,367 25,737 34,961 Gain on disposal of intangible assets 196 — 1,989 Reversal of impairment loss on property, plant 1,121 3,181 7 Reversal of impairment loss on intangible assets 1,152 1,975 242 Rental income 1,978 2,806 2,271 Others 17,632 53,585 34,607 ₩ 1,252,135 3,185,837 1,472,258 |
Summary of Other Expenses | (b) Details of other expenses for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 2022 2023 Foreign currency loss ₩ 1,161,628 2,957,048 1,516,528 Loss on disposal of property, plant and 64,350 54,432 102,453 Impairment loss on property, plant and 19,085 1,260,436 60,072 Loss on disposal of intangible assets — 193 55 Impairment loss on intangible assets 29,488 136,372 54,833 Impairment loss on investments — 7,736 — Others 6,308 30,197 52,293 ₩ 1,280,859 4,446,414 1,786,234 |
Finance Income and Finance Co_2
Finance Income and Finance Costs (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Finance Income and Costs Recognized in Profit or Loss | (a) Finance income and costs recognized in profit or loss for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 2022 2023 Finance income Interest income ₩ 88,888 85,624 134,664 Foreign currency gain 81,600 308,665 560,633 Gain on disposal of investments in equity — 2,993 2,994 Reversal of impairment loss on investments in 4,701 613 — Gain on transaction of derivatives 9,393 49,503 178,610 Gain on valuation of derivatives 234,742 193,570 239,973 Gain on disposal of financial assets at fair value — 173 132 Gain on valuation of financial assets at fair value 6,511 11,678 5,288 Gain on valuation of financial liabilities at fair — 220,240 — ₩ 425,835 873,059 1,122,294 Finance costs Interest expense ₩ 434,089 414,521 723,429 Foreign currency loss 381,132 440,604 512,456 Loss on disposal of investments in equity — 80 37 Impairment loss on investments in equity 2,609 — 6,808 Loss on repayment of borrowings and bonds 250 2,672 167 Loss on sale of trade accounts and notes receivable 4,877 37,087 48,600 Loss on transaction of derivatives 1,049 359 — Loss on valuation of derivatives 21,795 65,585 316,467 Loss on valuation of financial assets at fair value 704 5,205 18,562 Loss on valuation of financial liabilities at fair 68,421 — — Others 1,688 250 8,008 ₩ 916,614 966,363 1,634,534 |
Income Tax Expense (Benefit) (T
Income Tax Expense (Benefit) (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Details of Income Tax Expense (Benefit) | (a) Details of income tax expense (benefit) for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 2022 2023 Current tax expense (benefit) Current year ₩ 199,591 206,465 260,556 Adjustment for prior years 163,570 ( 59,484 ) ( 67,985 ) ₩ 363,161 146,981 192,571 Deferred tax expense (benefit) Origination and reversal of temporary differences ₩ 60,233 ( 842,529 ) ( 1,112,066 ) Change in unrecognized deferred tax assets(*) ( 38,053 ) 457,763 156,783 ₩ 22,180 ( 384,766 ) ( 955,283 ) Income tax expense (benefit) ₩ 385,341 ( 237,785 ) ( 762,712 ) (*) Due to the impact of the changes in estimates of future taxable income, change in unrecognized deferred tax assets consist of effect from reducing deferred tax assets in relation to tax credit carryforwards. |
Income Taxes Recognized Directly in Other Comprehensive Income | (b) Income taxes recognized directly in other comprehensive income or loss for the years ended December 31, 2021, 2022, and 2023 are as follows: (In millions of won) 2021 Before tax Tax benefit Net of tax Remeasurements of net defined benefit liabilities ₩ ( 220,801 ) 57,438 ( 163,363 ) Gain (loss) on valuation of derivatives ( 12,495 ) 3,268 ( 9,227 ) Foreign currency translation differences for foreign 871,292 ( 1,503 ) 869,789 Change in equity of equity method investee 6,364 ( 1,951 ) 4,413 ₩ 644,360 57,252 701,612 (In millions of won) 2022 Before tax Tax benefit Net of tax Remeasurements of net defined benefit liabilities ₩ 165,864 ( 43,503 ) 122,361 Gain (loss) on valuation of derivatives 12,495 ( 3,268 ) 9,227 Foreign currency translation differences for foreign ( 80,718 ) ( 245 ) ( 80,963 ) Change in equity of equity method investee ( 11,603 ) 1,925 ( 9,678 ) ₩ 86,038 ( 45,091 ) 40,947 (In millions of won) 2023 Before tax Tax benefit Net of tax Remeasurements of net defined benefit liabilities ₩ 64,635 ( 14,818 ) 49,817 Foreign currency translation differences for foreign 43,572 ( 20,429 ) 23,143 Change in equity of equity method investee ( 2,679 ) 25 ( 2,654 ) ₩ 105,528 ( 35,222 ) 70,306 |
Reconciliation of Actual Effective Tax Rate | (c) Reconciliation of the actual effective tax rate for the years ended December 31, 2021, 2022, and 2023 are as follows: (In millions of won) 2021 2022 2023 Profit (loss) for the year ₩ 1,333,544 ( 3,195,585 ) ( 2,576,729 ) Income tax expense 385,341 ( 237,785 ) ( 762,712 ) Profit (loss) before ₩ 1,718,885 ( 3,433,370 ) ( 3,339,441 ) Income tax expense 30.37 % 521,954 21.51 % ( 738,403 ) 23.65 % ( 789,941 ) Non-deductible expenses 1.01 % 17,354 ( 0.55 %) 18,742 ( 0.59 %) 19,759 Tax credits ( 3.28 %) ( 56,439 ) 4.23 % ( 145,189 ) 6.22 % ( 207,745 ) Change in unrecognized ( 2.21 %) ( 38,053 ) ( 13.33 %) 457,763 ( 4.69 %) 156,783 Adjustment for prior ( 0.49 %) ( 8,349 ) 0.06 % ( 2,072 ) 0.32 % ( 10,726 ) Effect on change in ( 2.29 %) ( 39,338 ) ( 4.90 %) 168,372 ( 1.80 %) 60,134 Others ( 0.69 %) ( 11,788 ) ( 0.09 %) 3,002 ( 0.27 %) 9,024 Income tax expense ₩ 385,341 ( 237,785 ) ( 762,712 ) Effective tax rate 22.42 % (*3) (*3) (*1) Due to the impact of the changes in estimates of future taxable income, change in unrecognized deferred tax assets consist of effect from reducing deferred tax assets in relation to tax credit carry forwards. (*2) Adjustment for prior years consists of expected amount adjusted for transfer price investigation for prior periods and others. (*3) Actual effective tax rate is not calculated due to income tax benefit. |
Deferred Tax Assets and Liabi_2
Deferred Tax Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Summary Of Unused Tax Credit Carryforwards | As of December 31, 2023, the amount of unused tax credit carryforwards for which no deferred tax asset is recognized and their expiration dates are as follows: (In millions of won) Total December 31, 2025 December 31, 2026 December 31, 2027 December 31, 2028 December 31, 2029 December 31, 2030 December 31, 2031 December 31, 2032 December 31, 2033 Tax credit ₩ 869,364 7,302 18,476 114,435 90,124 99,937 60,401 79,543 159,552 239,594 |
Details of Deferred Tax Assets and Liabilities | Deferred tax assets and liabilities are attributable to the following: (In millions of won) Assets Liabilities Total December 31, 2022 December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2022 December 31, 2023 Other accounts ₩ — — ( 2,009 ) ( 61 ) ( 2,009 ) ( 61 ) Inventories, net 62,014 51,728 — — 62,014 51,728 Defined benefit — — ( 95,850 ) ( 89,753 ) ( 95,850 ) ( 89,753 ) Investments in — — ( 252,375 ) ( 89,649 ) ( 252,375 ) ( 89,649 ) Accrued expenses 111,293 97,867 — — 111,293 97,867 Property, plant and 704,117 609,345 ( 17,322 ) ( 43,282 ) 686,795 566,063 Intangible assets 25,340 13,314 ( 4,042 ) ( 2,069 ) 21,298 11,245 Provisions 57,210 39,586 — — 57,210 39,586 Other temporary 112,771 70,182 ( 26,519 ) ( 11,451 ) 86,252 58,731 Tax loss 1,795,132 2,766,820 — — 1,795,132 2,766,820 Tax credit 170,971 148,215 — — 170,971 148,215 Deferred tax assets ₩ 3,038,848 3,797,057 ( 398,117 ) ( 236,265 ) 2,640,731 3,560,792 |
Changes in Deferred Tax Assets and Liabilities | (d) Changes in deferred tax assets and liabilities for the years ended December 31, 2022 and 2023 are as follows: (In millions of won) January 1, 2022 Profit or loss Other comprehensive Income(loss) December 31, 2022 Profit or loss Other comprehensive loss December 31, 2023 Other accounts ₩ ( 17 ) ( 1,992 ) — ( 2,009 ) 1,948 — ( 61 ) Inventories, net 68,679 ( 6,665 ) — 62,014 ( 10,286 ) — 51,728 Defined benefit ( 26,642 ) ( 25,705 ) ( 43,503 ) ( 95,850 ) 20,915 ( 14,818 ) ( 89,753 ) Subsidiaries and ( 233,552 ) ( 20,503 ) 1,680 ( 252,375 ) 183,130 ( 20,404 ) ( 89,649 ) Accrued expenses 250,582 ( 139,289 ) — 111,293 ( 13,426 ) — 97,867 Property, plant and 603,492 83,303 — 686,795 ( 120,732 ) — 566,063 Intangible assets 10,814 10,484 — 21,298 ( 10,053 ) — 11,245 Provisions 68,893 ( 11,683 ) — 57,210 ( 17,624 ) — 39,586 Other temporary 110,678 ( 21,158 ) ( 3,268 ) 86,252 ( 27,521 ) — 58,731 Tax loss 958,624 836,508 — 1,795,132 971,688 — 2,766,820 Tax credit 489,505 ( 318,534 ) — 170,971 ( 22,756 ) — 148,215 Deferred tax assets ₩ 2,301,056 384,766 ( 45,091 ) 2,640,731 955,283 ( 35,222 ) 3,560,792 |
Earnings (Loss) per Share Att_2
Earnings (Loss) per Share Attributable to Owners of the Controlling Company (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Summary of Basic Earnings per Share | (a) Basic earnings (loss) per share for the years ended December 31, 2021, 2022 and 2023 are as follows: (In won and number of shares) 2021 2022 2023 Profit (loss) attributable to owners of the ₩ 1,186,182,126,952 ( 3,071,564,667,651 ) ( 2,733,741,837,803 ) Weighted-average number of common stocks 357,815,700 357,815,700 357,815,700 Basic earnings (loss) per share ₩ 3,315 ( 8,584 ) ( 7,640 ) |
Summary of Diluted Earnings Per Share Explanatory | (In won and number of shares) 2021 Profit attributable to owners of the Controlling Company ₩ 1,186,182,126,952 Adjustments: Interest expenses of convertible bond, net of income tax 11,382,390,353 Loss on fair value valuation of convertible bond, net of income tax 50,521,798,972 Diluted profit attributable to owners of the Controlling Company ₩ 1,248,086,316,277 Weighted-average number of common stocks outstanding, after adjustment 398,804,698 Diluted earnings per share ₩ 3,130 |
Summary of Weighted Average Number of Common Stocks Outstanding after Adjustment Explanatory | Weighted-average number of common stocks outstanding, after adjustment, for measurement of diluted earnings per share is determined as follows: (Number of shares) 2021 Weighted-average number of common stocks outstanding 357,815,700 Adjustment : Number of common stocks to be issued from conversion 40,988,998 Weighted-average number of common stocks outstanding, after adjustment 398,804,698 Diluted loss per share is not different from basic loss per share as there are no dilution effects of potential common stocks for the years ended December 31, 2022 and 2023. |
Financial Risk Management (Tabl
Financial Risk Management (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Financial Risk Management [Line Items] | |
Exposure to currency risk | The Group’s exposure to foreign currency risk based on notional amounts as of December 31, 2022 and 2023 are as follows: (In millions) December 31, 2022 USD JPY CNY TWD EUR PLN VND Cash and cash equivalents 1,040 228 1,984 25 1 1 151,912 Deposits in banks 69 — 8,888 — — — — Trade accounts and notes 1,725 103 703 — — — — Other accounts receivables 26 114 253 10 21 — 15,800 Other assets denominated in foreign 30 191 82 7 — — 11,353 Trade accounts and notes payable ( 1,824 ) ( 4,987 ) ( 1,306 ) — — — ( 478,926 ) Other accounts payable ( 565 ) ( 19,084 ) ( 1,711 ) ( 8 ) ( 10 ) — ( 2,681,508 ) Financial liabilities ( 4,846 ) — ( 20,569 ) — — — — ( 4,345 ) ( 23,435 ) ( 11,676 ) 34 12 1 ( 2,981,369 ) Cross currency interest rate swap 2,430 — — — — — — Net exposure ( 1,915 ) ( 23,435 ) ( 11,676 ) 34 12 1 ( 2,981,369 ) (In millions) December 31, 2023 USD JPY CNY TWD EUR PLN VND Cash and cash equivalents 1,074 654 1,695 38 2 1 226,342 Deposits in banks — — 7,411 — — — — Trade accounts and notes 2,442 — 430 — ( 2 ) — — Other accounts receivables 6 186 294 20 — — 13,969 Other assets denominated in foreign 23 188 34 7 — — 13,146 Trade accounts and notes payable ( 1,721 ) ( 9,837 ) ( 1,765 ) — 2 — ( 740,674 ) Other accounts payable ( 545 ) ( 14,589 ) ( 2,151 ) ( 6 ) ( 5 ) — ( 1,309,118 ) Financial liabilities ( 4,068 ) — ( 25,336 ) — — — — Advances received ( 1,200 ) — — — — — — ( 3,989 ) ( 23,398 ) ( 19,388 ) 59 ( 3 ) 1 ( 1,796,335 ) Cross currency interest rate swap 1,930 — 345 — — — — Forward exchange 1,200 — — — — — — Net exposure ( 859 ) ( 23,398 ) ( 19,043 ) 59 ( 3 ) 1 ( 1,796,335 ) |
Average Exchange Rates Applied during Reporting Periods | Average exchange rates applied for the years ended December 31, 2021, 2022 and 2023 and the exchange rates at December 31, 2022 and 2023 are as follows: (In won) Average rate (year-to-date) Reporting date spot rate 2021 2022 2023 December 31, 2022 December 31, 2023 USD ₩ 1,144.10 1,291.15 1,306.12 1,267.30 1,289.40 JPY 10.42 9.85 9.32 9.53 9.13 CNY 177.36 191.60 184.28 181.44 180.84 TWD 40.99 43.36 41.94 41.27 41.98 EUR 1,353.25 1,357.29 1,412.67 1,351.20 1,426.59 PLN 296.51 289.78 311.36 288.70 329.11 VND 0.0499 0.0551 0.0548 0.0537 0.0532 |
Interest Rate Risk | The interest rate profile of the Group’s interest-bearing financial instruments as of December 31, 2022 and 2023 is as follows: (In millions of won) December 31, 2022 December 31, 2023 Fixed rate instruments Financial assets ₩ 3,547,256 3,163,490 Financial liabilities ( 6,025,365 ) ( 6,333,238 ) ₩ ( 2,478,109 ) ( 3,169,748 ) Variable rate instruments Financial liabilities ₩ ( 8,966,045 ) ( 10,195,891 ) |
Maximum Exposure to Credit Risk of Financial Assets | The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk as of December 31, 2022 and 2023 are as follows: (In millions of won) December 31, 2022 December 31, 2023 Financial assets carried at amortized cost Cash equivalents ₩ 1,823,573 2,257,519 Deposits in banks 1,722,618 905,982 Trade accounts and notes receivable, net 2,358,914 3,218,093 Non-trade receivables 146,921 112,739 Accrued income 22,505 14,246 Deposits 26,586 18,378 Loans 88,868 59,884 Lease receivables 11,058 4,130 ₩ 6,201,043 6,590,971 Financial assets at fair value through profit or loss Convertible securities ₩ 1,797 3,127 Derivatives 230,080 169,703 ₩ 231,877 172,830 ₩ 6,432,920 6,763,801 |
Contractual Maturities of Financial Liabilities, Including Estimated Interest Payments | The following are the contractual maturities of financial liabilities, including estimated interest payments, as of December 31, 2022 and 2023. 2022 (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 ₩ 13,542,664 14,674,463 4,329,345 1,266,247 3,135,925 5,591,303 351,643 Bonds 1,448,746 1,570,630 338,815 16,956 400,764 727,752 86,343 Trade accounts and notes payable 4,061,684 4,061,684 3,523,098 538,586 — — — Other accounts payable 2,307,190 2,309,929 2,231,832 78,097 — — — Other accounts payable (enterprise 935,739 935,739 935,739 — — — — Long-term other accounts payable 435,232 508,194 — — 103,450 245,064 159,680 Security deposits received 146,788 191,735 — 2,262 8,463 181,010 — Lease liabilities 72,788 77,803 26,733 16,995 18,552 10,743 4,780 Derivative financial liabilities Derivatives ₩ 47,408 29,418 ( 1,637 ) 10,741 3,024 17,290 — ₩ 22,998,239 24,359,595 11,383,925 1,929,884 3,670,178 6,773,162 602,446 (*) Represents liabilities payable to credit card companies for utility expenses and others paid using enterprise procurement cards. The Group presented the payable to credit card companies as other accounts payable and disclosed related cash flows as operating activities since the Group is using the enterprise procurement cards through agreements with suppliers for transactions arising from purchasing of goods and services, the payment term is within a year from the purchase, as part of the normal operating cycle, and no security is provided. |
Summary of Other Accounts Payable | Change in liabilities related to procurement cards for the year ended December 31, 2022 is as follows: (In millions of won) January 1, 2022 Change December 31, 2022 Other accounts payable (enterprise procurement cards) ₩ 1,074,089 ( 138,350 ) 935,739 |
Summary of Capital Management | (In millions of won) December 31, 2022 December 31, 2023 Total liabilities ₩ 24,366,792 26,988,754 Total equity 11,319,227 8,770,544 Cash and deposits in banks(*1) 3,547,256 3,163,493 Borrowings (including bonds) 14,991,410 16,529,129 Total liabilities to equity ratio 215 % 308 % Net borrowings to equity ratio(*2) 101 % 152 % (*1) Cash and deposits in banks consist of cash and cash equivalents and current deposits in banks. (*2) Net borrowings to equity ratio is calculated by dividing total borrowings (including bonds and excluding lease liabilities and others) less cash and current deposits in banks by total equity. 26. Financial Risk Management, Continued |
Fair Values of Financial Assets and Liabilities, Together with Carrying Amounts Shown in Consolidated Statement of Financial Position | The fair values of financial assets and liabilities, together with the carrying amounts shown in the consolidated statements of financial position as of December 31, 2022 and 2023 are as follows: (In millions of won) December 31, 2022 December 31, 2023 Carrying amounts Fair values Carrying amounts Fair values Financial assets carried at amortized cost Cash and cash equivalents ₩ 1,824,649 (*) 2,257,522 (*) Deposits in banks 1,722,618 (*) 905,982 (*) Trade accounts and notes receivable 2,358,914 (*) 3,218,093 (*) Non-trade receivables 146,921 (*) 112,739 (*) Accrued income 22,505 (*) 14,246 (*) Deposits 26,586 (*) 18,378 (*) Loans 88,868 (*) 59,884 (*) Lease receivables 11,058 (*) 4,130 (*) Financial assets at fair value through profit or loss Equity instruments ₩ 96,064 96,064 87,027 87,027 Convertible securities 1,797 1,797 3,127 3,127 Derivatives 230,080 230,080 169,703 169,703 Financial liabilities at fair value through profit or Derivatives ₩ 47,408 47,408 63,526 63,526 Financial liabilities effective for fair value hedging Derivatives ₩ — — 36,052 36,052 Financial liabilities carried at amortized cost Borrowings ₩ 13,542,664 13,521,494 15,040,986 15,101,258 Bonds 1,448,746 1,377,696 1,488,143 1,479,725 Trade accounts and notes payable 4,061,684 (*) 4,175,064 (*) Other accounts payable 3,678,161 (*) 3,276,810 (*) Security deposits received 146,788 (*) 153,370 (*) Lease liabilities 72,788 (*) 73,364 (*) (*) Excluded from disclosures as the carrying amount approximates fair value. |
Fair Value Hierarchy Classifications,Valuation Techniques and Inputs of Financial Instruments Measured at Fair Value | (In millions of won) December 31, 2022 Classification Level 1 Level 2 Level 3 Valuation technique Input Financial assets at fair value through Equity instruments ₩ — — 96,064 Discounted cash flow, etc. Discount rate and Estimated cash flow, etc. Convertible securities — — 1,797 Blended discount model and binominal option pricing model Discount rate, stock price and volatility Derivatives — 230,080 — Discounted cash flow Discount rate and Exchange rate Financial liabilities at fair value Derivatives ₩ — 47,408 — Discounted cash flow Discount rate and Exchange rate (In millions of won) December 31, 2023 Level 1 Level 2 Level 3 Valuation technique Input Financial assets at fair value through Equity instruments ₩ — — 87,027 Discounted cash flow, etc. Discount rate and Estimated cash flow, etc. Convertible securities — — 3,127 Blended discount model and binominal option pricing model Discount rate, stock price and volatility Derivatives — 169,703 — Discounted cash flow Discount rate and Exchange rate Financial liabilities at fair value Derivatives ₩ — 63,526 — Discounted cash flow Discount rate and Exchange rate Financial liabilities effective for Derivatives ₩ — 36,052 — Discounted cash flow Discount rate and Exchange rate |
Fair Value Hierarchy Classifications, Valuation Technique and Inputs for Fair Value Measurements of Financial Instruments not Measured at Fair Value | 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 December 31, 2022 and December 31, 2023 are as follows: (In millions of won) December 31, 2022 Classification Level 1 Level 2 Level 3 Valuation technique Input Liabilities Borrowings ₩ — — 13,521,494 Discounted cash flow Discount rate Bonds — — 1,377,696 Discounted cash flow Discount rate (In millions of won) December 31, 2023 Classification Level 1 Level 2 Level 3 Valuation technique Input Liabilities Borrowings ₩ — — 15,101,258 Discounted cash flow Discount rate Bonds — — 1,479,725 Discounted cash flow Discount rate iv) The interest rates applied for determination of the above fair value as of December 31, 2022 and 2023 are as follows: December 31, 2022 December 31, 2023 Borrowings, bonds and others 5.11 ~ 6.68 % 4.60 ~ 5.02 % |
Changes in Financial Assets Classified as Level 3 of Fair Value Measurements | v) There is no transfer between Level 1, Level 2 and Level 3 for the years ended December 31, 2023, and the changes in financial assets classified as Level 3 of fair value measurements for the years ended December 31, 2022 and 2023 are as follows: (In millions of won) Classification January 1, 2022 Acquisition Disposal Valuation Changes in Foreign Exchange Rates Replacement December 31, 2022 Equity securities ₩ 48,805 27,261 ( 775 ) 6,248 2,720 11,805 96,064 Convertible securities 2,758 — — 224 — ( 1,185 ) 1,797 (In millions of won) Classification January 1, 2023 Acquisition Disposal Valuation Changes in Foreign Exchange Rates December 31, 2023 Equity securities ₩ 96,064 3,286 ( 414 ) ( 13,315 ) 1,406 87,027 Convertible securities 1,797 1,329 — 41 ( 40 ) 3,127 |
Net Gains and Losses by Category of Financial Instruments | The net gains and losses by category of financial instruments as of December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 Financial assets at amortized cost Financial liabilities at amortized cost Financial assets at FVTPL Financial liabilities at FVTPL Other financial instruments (*) Total Interest income ₩ 88,888 - - - - 88,888 Interest expense - ( 418,674 ) - ( 15,415 ) - ( 434,089 ) Foreign currency differences 668,140 ( 848,072 ) - ( 70,249 ) - ( 250,181 ) (Reversal of) Bad debt expense ( 273 ) - - - - ( 273 ) Gain or loss on disposal ( 4,877 ) - ( 1,242 ) - - ( 6,119 ) Gain or loss on valuation - ( 250 ) 5,808 ( 68,421 ) - ( 62,863 ) Gain or loss on derivative - - - - 221,292 221,292 Others - - - ( 14 ) - ( 14 ) ₩ 751,878 ( 1,266,996 ) 4,566 ( 154,099 ) 221,292 ( 443,359 ) (*) Other financial instruments exclude cash flow hedging derivatives. (In millions of won) 2022 Financial assets at amortized cost Financial liabilities at amortized cost Financial assets at FVTPL Financial liabilities at FVTPL Derivatives (*) Total Interest income ₩ 85,624 — — — — 85,624 Interest expense — ( 403,415 ) — ( 11,106 ) — ( 414,521 ) Foreign currency differences 1,061,416 ( 946,650 ) — ( 105,492 ) — 9,274 Reversal of bad debt expense 569 — — — — 569 Gain or loss on disposal ( 37,087 ) — 171 ( 2,672 ) — ( 39,588 ) Gain or loss on valuation — — 6,473 220,240 — 226,713 Gain or loss on derivative — — — — 177,130 177,130 Others — — — ( 43 ) — ( 43 ) ₩ 1,110,522 ( 1,350,065 ) 6,644 100,927 177,130 45,158 (*) Other financial instruments exclude cash flow hedging derivatives. (In millions of won) 2023 Financial assets at amortized cost Financial liabilities at amortized cost Financial assets at FVTPL Financial assets at FVOCI Derivatives Total Interest income ₩ 134,664 — — — — 134,664 Interest expense — ( 723,429 ) — — — ( 723,429 ) Foreign currency differences 108,546 ( 176,376 ) — — ( 36,052 ) ( 103,882 ) Reversal of bad debt expense 181 — — — — 181 Gain or loss on disposal ( 48,600 ) ( 167 ) 132 ( 329 ) — ( 48,964 ) Gain or loss on valuation — — ( 13,274 ) — — ( 13,274 ) Gain or loss on derivative — — — — 102,116 102,116 ₩ 194,791 ( 899,972 ) ( 13,142 ) ( 329 ) 66,064 ( 652,588 ) |
Currency risk [member] | |
Financial Risk Management [Line Items] | |
Sensitivity Analysis for Each Type of Market Risk | 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 December 31, 2022 and 2023, would have increased (decreased) equity and profit or loss by the amounts shown below. This analysis is based on foreign currency exchange rate variances that the Group considers to be reasonably possible at the end of the reporting period. The analysis assumes that all other variables, in particular interest rates, would remain constant. The changes in equity and profit or loss would have been as follows: (In millions of won) December 31, 2022 December 31, 2023 Equity Profit or loss Equity Profit or loss USD (5 percent weakening) ₩ ( 114,317 ) ( 23,215 ) ( 68,615 ) 44,361 JPY (5 percent weakening) ( 8,614 ) ( 8,541 ) ( 8,160 ) ( 8,480 ) CNY (5 percent weakening) ( 105,926 ) ( 5 ) ( 172,198 ) ( 2 ) TWD (5 percent weakening) 68 3 122 9 EUR (5 percent weakening) 896 ( 281 ) ( 208 ) ( 52 ) PLN (5 percent weakening) 11 11 8 8 VND (5 percent weakening) ( 6,161 ) ( 6,161 ) ( 3,683 ) ( 3,683 ) |
Interest rate risk [Member] | |
Financial Risk Management [Line Items] | |
Sensitivity Analysis for Each Type of variable rate instruments | (In millions of won) Equity Profit or loss 1 %p 1 %p 1 %p 1 %p December 31, 2022 Variable rate instruments (*) ₩ ( 49,885 ) 49,885 ( 49,885 ) 49,885 December 31, 2023 Variable rate instruments (*) ₩ ( 56,829 ) 56,829 ( 56,829 ) 56,829 (*) Financial instruments related to non-hedging interest rate swap are excluded from the calculation. |
Leases - (Tables)
Leases - (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Disclosure of lease related income and expenses | (ii) Amounts recognized in profit or loss from leases other than leases recorded as right-of-use assets for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 2022 2023 Interest on lease liabilities ₩ ( 3,664 ) ( 3,656 ) ( 3,343 ) Income from sub-leasing right-of-use assets 712 541 276 Expenses relating to short-term leases ( 824 ) ( 785 ) ( 241 ) Expenses relating to leases of low-value assets ( 577 ) ( 632 ) ( 942 ) |
Schedule of lease liabilities | (iii) Changes in lease liabilities for the years ended December 31, 2022 and 2023 are as follows: (In millions of won) 2022 2023 Balance at January 1 ₩ 84,326 72,788 Additions and others 67,102 70,716 Interest expense 3,656 3,343 Repayment of liabilities ( 82,296 ) ( 73,483 ) Balance at December 31 ₩ 72,788 73,364 |
Schedule Of Maturity Analysis Of Leases Receivable | The following table sets out a maturity analysis of lease receivables, showing the undiscounted lease payments to be received after the reporting date. (In millions of won) December 31, 2022 December 31, 2023 6 months or less ₩ 3,593 3,580 6-12 months 3,593 597 1-2 years 4,191 — 2-5 years — — Total undiscounted lease receivable ₩ 11,377 4,177 Unearned finance income ( 319 ) ( 47 ) Net Investment in the lease ₩ 11,058 4,130 |
Right-of-use assets [member] | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Disclosure of quantitative information about right-of-use assets [text block] | Right-of-use assets related to leased properties that do not meet the definition of investment property are presented as property, plant and equipment as of December 31, 2022 and 2023 (see Note 9(a)). Changes in right-of-use assets for the years ended December 31, 2022 and 2023 are as follows: (In millions of won) 2022 Buildings and structures Land Machinery Vehicles Others Total Balance at January 1, 2022 ₩ 56,167 54,417 1,330 7,062 890 119,866 Additions and others 60,515 460 456 11,033 103 72,567 Depreciation ( 63,494 ) ( 3,014 ) ( 1,136 ) ( 8,288 ) ( 438 ) ( 76,370 ) Impairments ( 2,175 ) ( 721 ) ( 3 ) ( 501 ) ( 39 ) ( 3,439 ) Others — ( 420 ) — — — ( 420 ) Gain or loss on foreign currency translation 20 1,082 ( 49 ) ( 804 ) 205 454 Balance at December 31, 2022 ₩ 51,033 51,804 598 8,502 721 112,658 (In millions of won) 2023 Buildings and structures Land Machinery Vehicles Others Total Balance at January 1, 2023 ₩ 51,033 51,804 598 8,502 721 112,658 Additions and others 65,133 — 881 6,698 1,899 74,611 Depreciation ( 56,471 ) ( 2,846 ) ( 770 ) ( 7,482 ) ( 780 ) ( 68,349 ) Gain or loss on foreign currency translation ( 1,749 ) 2,291 5 ( 279 ) 58 326 Balance at December 31, 2023 ₩ 57,946 51,249 714 7,439 1,898 119,246 27. Leases , Continued |
Changes in liabilities arisin_2
Changes in liabilities arising from financing activities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Changes in liabilities arising from financing activities | Changes in liabilities arising from financing activities for the years ended December 31, 2022 and 2023 are as follows: (In millions of won) Non-cash transactions January 1, Cash flows from financing activities Gain or loss on foreign currency translation Effective interest adjustment Others December 31, Short-term borrowings ₩ 613,733 1,922,283 42,536 — — 2,578,552 Long-term borrowings 9,438,512 1,470,383 59,657 — ( 4,440 ) 10,964,112 Bonds (*) 2,611,561 ( 1,071,560 ) 113,669 12,644 ( 217,568 ) 1,448,746 Lease liabilities 84,326 ( 82,296 ) ( 1,806 ) — 72,564 72,788 Dividend payable 3,679 ( 292,786 ) — — 289,107 — ₩ 12,751,811 1,946,024 214,056 12,644 139,663 15,064,198 (*) Others include W 220,240 million of gain on valuation of financial liabilities at fair value through profit or loss and W 2,672 million of loss on early repayment of borrowings and bonds. (In millions of won) Non-cash transactions January 1, Cash flows from financing activities Gain or loss on foreign currency translation Effective interest adjustment Others December 31, Short-term borrowings ₩ 2,578,552 ( 716,386 ) 13,469 — — 1,875,635 Long-term borrowings 10,964,112 2,139,554 50,174 3,271 8,240 13,165,351 Bonds 1,448,746 35,276 2,237 1,717 167 1,488,143 Lease liabilities 72,788 ( 73,483 ) ( 312 ) — 74,371 73,364 Dividend payable — ( 34,098 ) ( 44 ) — 41,444 7,302 ₩ 15,064,198 1,350,863 65,524 4,988 124,222 16,609,795 |
Related Parties and Others (Tab
Related Parties and Others (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Significant Transactions, Trade Accounts and Notes Receivable and Payable Occurred in Normal Course of Business with Related Parties | (b) Significant transactions such as sales of goods and purchases of raw material and outsourcing service and others, which occurred in the normal course of business with related parties for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 Purchase and others Sales Dividend income Purchase of raw material and others Acquisition of property, plant and equipment Outsourcing fees Other costs Associates AVATEC Co., Ltd. ₩ — 200 713 — 72,156 1,485 Paju Electric Glass Co., Ltd. — 3,668 365,400 — — 2,734 WooRee E&L Co., Ltd. — — 13,541 — — 79 YAS Co., Ltd. — 200 10,337 54,071 — 9,824 Cynora GmbH — — 10 — — — Material Science Co., Ltd. — — 187 — — — ₩ — 4,068 390,188 54,071 72,156 14,122 Entity that has significant influence LG Electronics Inc. ₩ 270,396 — 19,805 395,654 — 130,924 Subsidiaries of the entity that has LG Electronics India Pvt. Ltd. ₩ 97,475 — — — — 418 LG Electronics Vietnam Haiphong 414,806 — — 607 — 1,445 LG Electronics Nanjing New 449,390 — — — — 1,263 LG Electronics RUS, LLC 98,812 — — — — 1,141 29. Related Parties and Others, Continued (In millions of won) 2021 Purchase and others Sales Dividend income Purchase of raw material and others Acquisition of property, plant and equipment Outsourcing fees Other costs LG Electronics do Brasil Ltda. ₩ 154,565 — — — — 543 LG Innotek Co., Ltd. 3,753 — 26,874 451 — 85,471 HI-M Solutek Co., Ltd — — 44 — — 5,662 LG Electronics Mexicalli, S.A. DE 269,305 — — — — 89 LG Electronics Mlawa Sp. z o.o. 1,254,164 — — — — 577 LG Electronics Reynosa, S.A. DE 1,256,107 — — — — 1,011 LG Electronics Egypt S.A.E. 106,469 — — — — 159 LG Electronics Japan, Inc. — — — 10 — 5,334 P.T. LG Electronics Indonesia 537,944 — — — — 574 LG Electronics Taiwan Taipei Co., Ltd. 5,046 — — — — 659 LG Electronics Nanjing Vehicle 2,009 — — — — — LG Technology Ventures LLC — — — — — 4,411 Others 5 — 739 602 — 968 ₩ 4,649,850 — 27,657 1,670 — 109,725 ₩ 4,920,246 4,068 437,650 451,395 72,156 254,771 29. Related Parties and Others, Continued (In millions of won) 2022 Purchase and others Sales Dividend income Purchase of raw material and others Acquisition of property, plant and equipment Outsourcing fees Other costs Associates AVATEC Co., Ltd. ₩ — — 58 — 64,492 3,617 Paju Electric Glass Co., Ltd. — 4,361 245,962 — — 2,942 WooRee E&L Co., Ltd. — — 12,321 — — 2 YAS Co., Ltd. — 100 14,291 29,951 — 8,038 Material Science Co., Ltd. — — 17 — — — ₩ — 4,461 272,649 29,951 64,492 14,599 Entity that has significant influence LG Electronics Inc. ₩ 238,358 — 19,808 517,476 — 137,703 Subsidiaries of the entity that has LG Electronics India Pvt. Ltd. ₩ 70,514 — — — — 519 LG Electronics Vietnam Haiphong 468,380 — — — — 882 LG Electronics Nanjing New 334,099 — — — — 1,178 LG Electronics RUS, LLC 23,458 — — — — 414 29. Related Parties and Others, Continued (In millions of won) 2022 Purchase and others Sales Dividend income Purchase of raw material and others Acquisition of property, plant and equipment Outsourcing fees Other costs LG Electronics do Brasil Ltda. ₩ 88,835 — — — — 200 LG Innotek Co., Ltd. 27,698 — 10,122 — — 79,515 LG Electronics Mlawa Sp. z o.o. 1,178,140 — — — — 1,089 LG Electronics Reynosa, S.A. DE C.V. 1,195,146 — — — — 958 LG Electronics Egypt S.A.E. 72,055 — — — — 372 LG Electronics Japan, Inc. — — — 16 — 7,307 P.T. LG Electronics Indonesia 531,543 — — — — 1,415 LG Electronics Taiwan Taipei Co., Ltd. 3,433 — — — — 615 LG Technology Ventures LLC — — — — — 4,922 HI-M Solutek Co., Ltd — — 58 — — 9,258 LG Electronics U.S.A., Inc. — — — — — 2,315 Others 572 — 592 608 — 913 ₩ 3,993,873 — 10,772 624 — 111,872 ₩ 4,232,231 4,461 303,229 548,051 64,492 264,174 29. Related Parties and Others, Continued (In millions of won) 2023 Purchase and others Sales Dividend income Purchase of raw material and others Acquisition of property, plant and equipment Outsourcing fees Other costs Associates AVATEC Co., Ltd. ₩ — — 452 — 43,210 11,003 Paju Electric Glass Co., Ltd. — 15,200 176,831 — — 4,341 WooRee E&L Co., Ltd. — — 7,853 — — 513 YAS Co., Ltd. — — 9,832 17,447 — 5,755 Material Science Co., Ltd. — — — — — 179 ₩ — 15,200 194,968 17,447 43,210 21,791 Entity that has significant influence LG Electronics Inc. ₩ 231,935 — 22,370 320,555 — 180,539 Subsidiaries of the entity that has LG Electronics India Pvt. Ltd. ₩ 47,031 — — — — 270 LG Electronics Vietnam Haiphong 434,789 — — 6,108 — 982 29. Related Parties and Others, Continued (In millions of won) 2023 Purchase and others Sales Dividend income Purchase of raw material and others Acquisition of property, plant and equipment Outsourcing fees Other costs LG Electronics Nanjing New ₩ 350,207 — — — — 451 LG Electronics do Brasil Ltda. 29,249 — — — — 316 LG Innotek Co., Ltd. 7,754 — 14,970 — — 100,272 LG Electronics Mlawa Sp. z o.o. 811,880 — — — — 1,611 LG Electronics Reynosa S.A. DE C.V. 826,547 — — — — 810 LG Electronics Egypt S.A.E 20,225 — — — — 66 LG Electronics Japan, Inc. 114 — — 24 — 6,254 LG Electronics RUS, LLC 360 — — — — 2,359 LG Electronics U.S.A., Inc. — — — — — 2,177 P.T. LG Electronics Indonesia 448,528 — — — — 2,231 LG Electronics Nanjing Vehicle 1,414 — — — — — LG Technology Ventures LLC — — — — — 2,596 HI-M Solutek Co., Ltd — — 9 — — 7,316 Others 15 — 142 55 — 1,447 ₩ 2,978,113 — 15,121 6,187 — 129,158 ₩ 3,210,048 15,200 232,459 344,189 43,210 331,488 29. Related Parties and Others, Continued (c) Trade accounts and notes receivable and payable as of December 31, 2022 and 2023 are as follows: (In millions of won) Trade accounts and notes receivable and others Trade accounts and notes payable and others December 31, December 31, December 31, December 31, Associates ₩ — AVATEC Co., Ltd. — — 3,756 4,775 Paju Electric Glass Co., Ltd. — — 30,431 56,136 WooRee E&L Co., Ltd. 878 695 1,502 2,219 YAS Co., Ltd. — — 7,680 12,483 Material Science Co., Ltd. — — — 118 ₩ 878 695 43,369 75,731 Entity that has significant influence over the LG Electronics Inc. (*1) ₩ 69,447 63,284 99,934 1,140,260 Subsidiaries of the entity that has significant LG Electronics India Pvt. Ltd. ₩ 5,669 2,013 15 35 LG Electronics Vietnam Haiphong Co., Ltd. 50,173 76,952 53 1,403 LG Electronics Nanjing New Technology Co., Ltd. 30,018 38,502 — 27 LG Electronics do Brasil Ltda. 10,997 6,252 — 32 LG Innotek Co., Ltd. (*2) 3,838 3,002 209,032 216,049 29. Related Parties and Others, Continued (In millions of won) Trade accounts and notes receivable and others Trade accounts and notes payable and others December 31, December 31, December 31, December 31, LG Electronics Mlawa Sp. z o.o. ₩ 94,346 101,357 155 — LG Electronics Reynosa, S.A. DE C.V. 16,760 64,208 167 109 LG Electronics Japan, Inc. — 114 566 632 P.T. LG Electronics Indonesia 45,617 46,146 195 108 LG Electronics Taiwan Taipei Co., Ltd. — — 77 115 LG Electronics Egypt S.A.E — 369 — 1 Others 2,260 251 4,574 2,184 ₩ 259,678 339,166 214,834 220,695 ₩ 330,003 403,145 358,137 1,436,686 (*1) Trade accounts and note payable and others for LG Electronics Inc. as of December 31, 2023 includes long-term borrowings of W 1,000,000 million. (see note 12(c)) (*2) Trade accounts and note payable and others for LG Innotek Co., Ltd. as of December 31, 2023 and 2022 Includes deposits received amount W 180,000 million from lease agreement. |
Details of Significant Financing Transactions with Related Parties | (In millions of won) 2021 Associates Loans Collection of loans WooRee E&L Co., Ltd. ₩ 878 — (In millions of won) 2023 Entity that has significant influence Borrowings LG Electronics Inc.(*) ₩ 1,000,000 Associates Collection of loans WooRee E&L Co., Ltd. ₩ 183 (*) The Group entered into a loan agreement with LG Electronics Inc. on March 27, 2023 for a total borrowing amount of W 1,000,000 million, and received W 650,000 million on March 30, 2023 and W 350,000 million on April 20, 2023. The repayment plan is instalment payment for a period of one year, granting grace period of two years and the maturity date is March 30, 2026 (see note 12(c) ). There were no significant financing transactions with related parties for the year ended December 31, 2022. |
Compensation Costs of Key Management | Compensation costs of key management for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 2022 2023 Short-term benefits ₩ 3,747 2,305 2,291 Expenses related to the defined benefit plan 366 417 355 ₩ 4,113 2,722 2,646 Key management refers to the registered directors who have significant control and responsibilities over the Controlling Company’s operations and business. |
Supplemental Cash Flow Inform_2
Supplemental Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Textblock 1 [Abstract] | |
Summary of Non-cash Investing and Financing Activities | Supplemental cash flow information for the years ended December 31, 2021, 2022 and 2023 are as follows: (In millions of won) 2021 2022 2023 Non-cash investing and financing activities: Changes in other accounts payable arising from the ₩ 445,028 480,322 ( 348,046 ) Changes in other accounts payable arising from the 529,826 ( 113,185 ) ( 27,918 ) Recognition of right-of-use assets and lease liabilities 63,655 54,927 74,611 |
Reporting Entity - Additional I
Reporting Entity - Additional Information (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of reporting entity [line items] | ||
Capital stocks | ₩ 1,789,079 | ₩ 1,789,079 |
Common Stock [member] | ||
Disclosure of reporting entity [line items] | ||
Common stock outstanding | 357,815,700 | |
American depository shares (one represents one-half of one share of common stock) [member] | ||
Disclosure of reporting entity [line items] | ||
Common stock outstanding | 18,672,956 | |
Money Market Trust [member] | ||
Disclosure of reporting entity [line items] | ||
Capital stocks | ₩ 92,900 | |
Entity that has significant influence over the controlling company [member] | LG Electronics Inc. [member] | ||
Disclosure of reporting entity [line items] | ||
Percentage of Controlling Company's equity interests held by a major shareholder | 37.90% | |
Common stock shares of Controlling Company held by a major shareholder | 135,625,000 |
Reporting Entity - Summary of C
Reporting Entity - Summary of Consolidated Subsidiaries (Detail) € in Millions, ₩ in Millions, ¥ in Millions, ¥ in Millions, $ in Millions, $ in Millions | 12 Months Ended | |||||||
Dec. 31, 2023 KRW (₩) | Dec. 31, 2023 USD ($) | Dec. 31, 2023 EUR (€) | Dec. 31, 2023 JPY (¥) | Dec. 31, 2023 TWD ($) | Dec. 31, 2023 CNY (¥) | Dec. 31, 2022 KRW (₩) | ||
Disclosure of subsidiaries [line items] | ||||||||
Fiscal year end | --12-31 | |||||||
Capital stocks | ₩ | ₩ 1,789,079 | ₩ 1,789,079 | ||||||
LG Display America, Inc. [member] | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Location | San Jose,U.S.A. | |||||||
Percentage of ownership | 100% | |||||||
Fiscal year end | --12-31 | |||||||
Date of incorporation | Sep. 24, 1999 | |||||||
Business | Sell display products | |||||||
Capital stocks | $ | $ 411 | |||||||
LG Display Germany GmbH [member] | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Location | Eschborn, Germany | |||||||
Percentage of ownership | 100% | |||||||
Fiscal year end | --12-31 | |||||||
Date of incorporation | Oct. 15, 1999 | |||||||
Business | Sell display products | |||||||
Capital stocks | € | € 1 | |||||||
LG Display Japan Co., Ltd. [member] | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Location | Tokyo, Japan | |||||||
Percentage of ownership | 100% | |||||||
Fiscal year end | --12-31 | |||||||
Date of incorporation | Oct. 12, 1999 | |||||||
Business | Sell display products | |||||||
Capital stocks | ¥ 95 | |||||||
LG Display Taiwan Co., Ltd. [member] | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Location | Taipei, Taiwan | |||||||
Percentage of ownership | 100% | |||||||
Fiscal year end | --12-31 | |||||||
Date of incorporation | Apr. 12, 1999 | |||||||
Business | Sell display products | |||||||
Capital stocks | $ | $ 116 | |||||||
LG Display Nanjing Co., Ltd. [member] | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Location | Nanjing, China | |||||||
Percentage of ownership | 100% | |||||||
Fiscal year end | --12-31 | |||||||
Date of incorporation | Jul. 15, 2002 | |||||||
Business | Manufacture display products | |||||||
Capital stocks | ¥ 3,020 | |||||||
LG Display Shanghai Co., Ltd. [member] | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Location | Shanghai, China | |||||||
Percentage of ownership | 100% | |||||||
Fiscal year end | --12-31 | |||||||
Date of incorporation | Jan. 16, 2003 | |||||||
Business | Sell display products | |||||||
Capital stocks | 4 | |||||||
LG Display Guangzhou Co., Ltd. [member] | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Location | Guangzhou, China | |||||||
Percentage of ownership | 100% | |||||||
Fiscal year end | --12-31 | |||||||
Date of incorporation | Jun. 30, 2006 | |||||||
Business | Manufacture display products | |||||||
Capital stocks | 1,655 | |||||||
LG Display Shenzhen Co., Ltd. [member] | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Location | Shenzhen, China | |||||||
Percentage of ownership | 100% | |||||||
Fiscal year end | --12-31 | |||||||
Date of incorporation | Jul. 27, 2007 | |||||||
Business | Sell display products | |||||||
Capital stocks | 4 | |||||||
LG Display Singapore Pte. Ltd. [member] | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Location | Singapore | |||||||
Percentage of ownership | 100% | |||||||
Fiscal year end | --12-31 | |||||||
Date of incorporation | Nov. 04, 2008 | |||||||
Business | Sell display products | |||||||
Capital stocks | $ | 1 | |||||||
L&T Display Technology (Fujian) Limited [member] | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Location | Fujian,China | |||||||
Percentage of ownership | 51% | |||||||
Fiscal year end | --12-31 | |||||||
Date of incorporation | Dec. 07, 2009 | |||||||
Business | Manufacture and sell LCD module and LCD monitor sets | |||||||
Capital stocks | 116 | |||||||
LG Display Yantai Co., Ltd. [member] | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Location | Yantai,China | |||||||
Percentage of ownership | 100% | |||||||
Fiscal year end | --12-31 | |||||||
Date of incorporation | Mar. 17, 2010 | |||||||
Business | Manufacture display products | |||||||
Capital stocks | 1,008 | |||||||
Nanumnuri Co., Ltd. [member] | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Location | Gumi,South Korea | |||||||
Percentage of ownership | 100% | |||||||
Fiscal year end | --12-31 | |||||||
Date of incorporation | Mar. 21, 2012 | |||||||
Business | Provide janitorial services | |||||||
Capital stocks | ₩ | ₩ 800 | |||||||
LG Display (China) Co., Ltd. [member] | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Location | Guangzhou, China | |||||||
Percentage of ownership | 70% | |||||||
Fiscal year end | --12-31 | |||||||
Date of incorporation | Dec. 10, 2012 | |||||||
Business | Manufacture and sell display products | |||||||
Capital stocks | 8,232 | |||||||
Unified Innovative Technology, LLC [member] | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Location | Wilmington, U.S.A. | |||||||
Percentage of ownership | 100% | |||||||
Fiscal year end | --12-31 | |||||||
Date of incorporation | Mar. 12, 2014 | |||||||
Business | Manage intellectual property | |||||||
Capital stocks | $ | 9 | |||||||
LG Display Guangzhou Trading Co., Ltd. [member] | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Location | Guangzhou, China | |||||||
Percentage of ownership | 100% | |||||||
Fiscal year end | --12-31 | |||||||
Date of incorporation | Apr. 28, 2015 | |||||||
Business | Sell display products | |||||||
Capital stocks | 1 | |||||||
Global OLED Technology, LLC [member] | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Location | Sterling, U.S.A. | |||||||
Percentage of ownership | 100% | |||||||
Fiscal year end | --12-31 | |||||||
Date of incorporation | Dec. 18, 2009 | |||||||
Business | Manage OLED intellectual property | |||||||
Capital stocks | $ | 138 | |||||||
LG Display Vietnam Haiphong Co., Ltd. [member] | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Location | Haiphong,Vietnam | |||||||
Percentage of ownership | 100% | |||||||
Fiscal year end | --12-31 | |||||||
Date of incorporation | May 05, 2016 | |||||||
Business | Manufacture and sell display products | |||||||
Capital stocks | $ | 600 | |||||||
Suzhou Lehui Display Co., Ltd. [member] | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Location | Suzhou, China | |||||||
Percentage of ownership | 100% | |||||||
Fiscal year end | --12-31 | |||||||
Date of incorporation | Jul. 01, 2016 | |||||||
Business | Manufacture and sell LCD module and LCD monitor sets | |||||||
Capital stocks | 637 | |||||||
LG DISPLAY FUND I LLC [member] | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Location | [1] | Wilmington, U.S.A. | ||||||
Percentage of ownership | [1] | 100% | ||||||
Fiscal year end | [1] | --12-31 | ||||||
Date of incorporation | [1] | May 01, 2018 | ||||||
Business | [1] | Invest in venture business and acquire technologies | ||||||
Capital stocks | $ | [1] | $ 75 | ||||||
LG Display High-Tech (China) Co., Ltd. [member] | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Location | Guangzhou, China | |||||||
Percentage of ownership | 70% | |||||||
Fiscal year end | --12-31 | |||||||
Date of incorporation | Jul. 11, 2018 | |||||||
Business | Manufacture and sell display products | |||||||
Capital stocks | ¥ 15,600 | |||||||
[1] (*) For the year ended December 31, 2023, the Controlling Company contributed W 5,839 million in cash for the capital increase of LG DISPLAY FUND I LLC. There was no change in the Controlling Company’s percentage of ownership in LG DISPLAY FUND I LLC as a result of this additional investment. |
Reporting Entity - Summary of_2
Reporting Entity - Summary of Consolidated Subsidiaries (Parenthetical) (Detail) ₩ in Millions | 12 Months Ended |
Dec. 31, 2023 KRW (₩) | |
LG DISPLAY FUND I LLC [member] | |
Disclosure of subsidiaries [line items] | |
Cash contribution for capital increase in consolidated subsidiaries | ₩ 5,839 |
Reporting Entity - Summary of I
Reporting Entity - Summary of Information of Subsidiaries having Significant Non controlling Interests (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Interests In Subsidiaries Explanatory [Line Items] | |||
Current assets | ₩ 9,503,186 | ₩ 9,444,035 | |
Non-current assets | 26,256,112 | 26,241,984 | |
Current liabilities | 13,885,028 | 13,961,520 | |
Non-current liabilities | 13,103,726 | 10,405,272 | |
Book value of non-controlling interests | 1,538,362 | 1,439,638 | |
Revenue | 21,330,819 | 26,151,781 | ₩ 29,878,043 |
Profit (loss) for the year | (2,576,729) | (3,195,585) | 1,333,544 |
Profit(Loss) attributable to non-controlling interests | 157,013 | (124,020) | 147,362 |
Cash flows from operating activities | 1,682,748 | 3,011,020 | 5,753,446 |
Cash flows from investing activities | (2,589,336) | (6,700,169) | (4,263,080) |
Cash flows from financing activities | 1,350,863 | 1,946,024 | (2,466,136) |
Effect of exchange rate fluctuations on cash held | (11,402) | 26,177 | 299,268 |
Beginning Balance | 1,824,649 | 3,541,597 | 4,218,099 |
Ending Balance | 2,257,522 | 1,824,649 | 3,541,597 |
Dividends distributed to non-controlling interests | (34,098) | (60,206) | |
Non-controlling interests [member] | |||
Disclosure Of Interests In Subsidiaries Explanatory [Line Items] | |||
Profit (loss) for the year | ₩ 157,013 | ₩ (124,020) | ₩ 147,362 |
Non-controlling interests [member] | L G Display China Co Ltd [member] | |||
Disclosure Of Interests In Subsidiaries Explanatory [Line Items] | |||
Percentage of ownership in non-controlling interest(%) | 30% | 30% | 30% |
Current assets | ₩ 1,908,790 | ₩ 1,916,867 | ₩ 1,987,880 |
Non-current assets | 501,340 | 575,020 | 663,181 |
Current liabilities | 275,264 | 336,575 | 324,075 |
Non-current liabilities | 560 | 1,419 | 31,466 |
Net assets | 2,134,306 | 2,153,893 | 2,295,520 |
Book value of non-controlling interests | 640,322 | 646,199 | 680,757 |
Revenue | 1,145,472 | 1,921,939 | 2,175,878 |
Profit (loss) for the year | 108,801 | 133,486 | 380,788 |
Profit(Loss) attributable to non-controlling interests | 32,640 | 39,981 | 114,301 |
Cash flows from operating activities | 426,643 | 486,103 | 890,435 |
Cash flows from investing activities | (225,456) | (371,454) | (619,615) |
Cash flows from financing activities | (153,664) | (223,222) | (439,390) |
Effect of exchange rate fluctuations on cash held | (972) | 2,347 | 23,538 |
Net increase (decrease) in cash and cash equivalents | 46,551 | (106,226) | (145,032) |
Beginning Balance | 25,544 | 131,770 | 276,802 |
Ending Balance | 72,095 | 25,544 | 131,770 |
Dividends distributed to non-controlling interests | ₩ 34,098 | ₩ 56,056 | ₩ 0 |
Non-controlling interests [member] | LG Display High Tech China Co Ltd [Member] | |||
Disclosure Of Interests In Subsidiaries Explanatory [Line Items] | |||
Percentage of ownership in non-controlling interest(%) | 30% | 30% | 30% |
Current assets | ₩ 3,796,310 | ₩ 2,112,295 | ₩ 1,551,346 |
Non-current assets | 2,621,361 | 3,546,253 | 5,252,614 |
Current liabilities | 978,596 | 820,041 | 1,261,412 |
Non-current liabilities | 2,586,633 | 2,323,249 | 2,452,327 |
Net assets | 2,852,442 | 2,515,258 | 3,090,221 |
Book value of non-controlling interests | 854,346 | 753,191 | 925,848 |
Revenue | 2,432,838 | 2,766,043 | 2,817,308 |
Profit (loss) for the year | 374,836 | (561,016) | 125,446 |
Profit(Loss) attributable to non-controlling interests | 112,451 | (168,474) | 37,803 |
Cash flows from operating activities | 777,354 | 153,043 | 709,243 |
Cash flows from investing activities | (979,167) | 424,405 | (315,176) |
Cash flows from financing activities | 365,898 | (455,746) | (665,170) |
Effect of exchange rate fluctuations on cash held | (3,571) | (7,471) | 19,972 |
Net increase (decrease) in cash and cash equivalents | 160,514 | 114,231 | (251,131) |
Beginning Balance | 153,561 | 39,330 | 290,461 |
Ending Balance | ₩ 314,075 | ₩ 153,561 | ₩ 39,330 |
Summary of Material Accountin_2
Summary of Material Accounting Policies - Estimated Useful Lives of Property, Plant and Equipment (Detail) | 12 Months Ended |
Dec. 31, 2023 | |
Buildings and structures [member] | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [Line Items] | |
Estimated useful lives of the assets | 20 |
Buildings and structures [member] | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [Line Items] | |
Estimated useful lives of the assets | 40 |
Machinery [member] | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [Line Items] | |
Estimated useful lives of the assets | 4 |
Machinery [member] | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [Line Items] | |
Estimated useful lives of the assets | 5 |
Furniture and fixtures [member] | |
Disclosure of detailed information about property, plant and equipment [Line Items] | |
Estimated useful lives of the assets | 4 |
Equipment, tools and vehicles [member] | |
Disclosure of detailed information about property, plant and equipment [Line Items] | |
Estimated useful lives of the assets | 4 |
Equipment, tools and vehicles [member] | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [Line Items] | |
Estimated useful lives of the assets | 2 |
Equipment, tools and vehicles [member] | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [Line Items] | |
Estimated useful lives of the assets | 12 |
Summary of Material Accountin_3
Summary of Material Accounting Policies - Estimated Useful Lives of Intangible Assets, Other Than Goodwill (Detail) | 12 Months Ended | |
Dec. 31, 2023 | ||
Intellectual property rights [member] | Bottom of range [member] | ||
Disclosure of detailed information about intangible assets [Line Items] | ||
Estimated useful lives of intangible assets, other than goodwill | 5 | [1] |
Intellectual property rights [member] | Top of range [member] | ||
Disclosure of detailed information about intangible assets [Line Items] | ||
Estimated useful lives of intangible assets, other than goodwill | 10 | [1] |
Rights to use electricity, water and gas supply facilities [member] | ||
Disclosure of detailed information about intangible assets [Line Items] | ||
Estimated useful lives of intangible assets, other than goodwill | 10 | |
Software [member] | ||
Disclosure of detailed information about intangible assets [Line Items] | ||
Estimated useful lives of intangible assets, other than goodwill | 4 | [1] |
Customer relationships [member] | Bottom of range [member] | ||
Disclosure of detailed information about intangible assets [Line Items] | ||
Estimated useful lives of intangible assets, other than goodwill | 7 | |
Customer relationships [member] | Top of range [member] | ||
Disclosure of detailed information about intangible assets [Line Items] | ||
Estimated useful lives of intangible assets, other than goodwill | 10 | |
Technology [member] | ||
Disclosure of detailed information about intangible assets [Line Items] | ||
Estimated useful lives of intangible assets, other than goodwill | 10 | |
Condominium and golf club memberships [member] | ||
Disclosure of detailed information about intangible assets [Line Items] | ||
Estimated useful lives of intangible assets, other than goodwill | Indefinite | |
[1] (*1) Patent royalty (included in intellectual property rights) and software license are amortized over the useful lives considering the contract period. |
Cash and Cash Equivalents and_3
Cash and Cash Equivalents and Deposits in Banks - Summary of Cash and Cash Equivalents and Deposits in Bank (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Cash and cash equivalents | ||||
Cash | ₩ 3 | ₩ 1,076 | ||
Deposits | 2,257,519 | 1,823,573 | ||
Cash and cash equivalents | 2,257,522 | 1,824,649 | ₩ 3,541,597 | ₩ 4,218,099 |
Deposits in banks | ||||
Deposits in banks, Time deposits | 900 | 267,163 | ||
Deposits in banks, Restricted deposits | 905,071 | 1,455,444 | ||
Deposits in banks | 905,971 | 1,722,607 | ||
Non-current assets | ||||
Deposits in banks, Restricted deposits | ₩ 11 | ₩ 11 |
Trade Accounts and Notes Rece_3
Trade Accounts and Notes Receivable, Other Accounts Receivable and Others - Summary of Trade Accounts and Notes Receivable (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [Line Items] | ||
Trade accounts and notes receivable, net | ₩ 3,218,093 | ₩ 2,358,914 |
Third parties [member] | ||
Disclosure of financial assets [Line Items] | ||
Trade accounts and notes receivable, net | 2,827,163 | 2,042,746 |
Related parties [member] | ||
Disclosure of financial assets [Line Items] | ||
Trade accounts and notes receivable, net | ₩ 390,930 | ₩ 316,168 |
Trade Accounts and Notes Rece_4
Trade Accounts and Notes Receivable, Other Accounts Receivable and Others - Summary of Other Accounts Receivable (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [abstract] | ||
Non-trade receivables, net | ₩ 112,739 | ₩ 146,921 |
Accrued income | 14,246 | 22,505 |
Other accounts receivable, net | ₩ 126,985 | ₩ 169,426 |
Trade Accounts and Notes Rece_5
Trade Accounts and Notes Receivable, Other Accounts Receivable and Others - Additional Information (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Related parties [member] | ||
Disclosure of financial assets [Line Items] | ||
Other accounts receivable, net | ₩ 11,520 | ₩ 12,957 |
Trade Accounts and Notes Rece_6
Trade Accounts and Notes Receivable, Other Accounts Receivable and Others - Aging of Trade Accounts and Notes Receivable, Other Accounts Receivable and Long-term Non-trade Receivable (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Trade accounts and notes receivable | ₩ 3,218,093 | ₩ 2,358,914 |
Other accounts receivable | 126,985 | 169,426 |
Gross carrying amount [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Trade accounts and notes receivable | 3,219,026 | 2,359,789 |
Other accounts receivable | 127,192 | 171,204 |
Gross carrying amount [member] | Current [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Trade accounts and notes receivable | 3,212,514 | 2,332,769 |
Other accounts receivable | 123,919 | 166,067 |
Gross carrying amount [member] | Current [member] | 1-15 days past due [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Trade accounts and notes receivable | 3,077 | 12,019 |
Other accounts receivable | 1,357 | 1,000 |
Gross carrying amount [member] | Current [member] | 16-30 days past due [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Trade accounts and notes receivable | 3,435 | 2,256 |
Other accounts receivable | 156 | |
Gross carrying amount [member] | Current [member] | 31-60 days past due [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Trade accounts and notes receivable | 391 | |
Other accounts receivable | 168 | 201 |
Gross carrying amount [member] | Current [member] | More than 60 days past due [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Trade accounts and notes receivable | 12,354 | |
Other accounts receivable | 1,592 | 3,936 |
Accumulated impairment [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Trade accounts and notes receivable | (933) | (875) |
Other accounts receivable | (207) | (1,778) |
Accumulated impairment [member] | Current [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Trade accounts and notes receivable | (932) | (841) |
Other accounts receivable | (191) | (1,721) |
Accumulated impairment [member] | Current [member] | 1-15 days past due [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Trade accounts and notes receivable | (1) | (4) |
Other accounts receivable | (9) | |
Accumulated impairment [member] | Current [member] | 16-30 days past due [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Trade accounts and notes receivable | (1) | |
Other accounts receivable | (2) | |
Accumulated impairment [member] | Current [member] | 31-60 days past due [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Other accounts receivable | (2) | (1) |
Accumulated impairment [member] | Current [member] | More than 60 days past due [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Trade accounts and notes receivable | (29) | |
Other accounts receivable | ₩ (12) | ₩ (47) |
Trade Accounts and Notes Rece_7
Trade Accounts and Notes Receivable, Other Accounts Receivable and Others - Movement in Allowance for Impairment in Respect of Trade Accounts and Notes Receivable and Other Accounts Receivable (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Other accounts receivable [member] | |||
Disclosure of financial assets that are either past due or impaired [Line Items] | |||
Balance at the beginning of the year | ₩ 1,778 | ₩ 2,005 | ₩ 1,778 |
(Reversal of) bad debt expense | (239) | (227) | 227 |
Write-off | (1,332) | ||
Balance at the end of the year | 207 | 1,778 | 2,005 |
Trade accounts and notes receivable [member] | |||
Disclosure of financial assets that are either past due or impaired [Line Items] | |||
Balance at the beginning of the year | 875 | 1,204 | 1,047 |
(Reversal of) bad debt expense | 58 | (329) | 157 |
Balance at the end of the year | ₩ 933 | ₩ 875 | ₩ 1,204 |
Trade Accounts and Notes Rece_8
Trade Accounts and Notes Receivable, Other Accounts Receivable and Others - Summary of Other Assets (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Current assets | ||
Advanced payments | ₩ 1,675 | ₩ 22,134 |
Prepaid expenses | 103,355 | 74,420 |
Value added tax refundable | 143,608 | 220,182 |
Right to recover returned goods | 5,121 | 8,155 |
Total other current assets | ₩ 253,759 | ₩ 324,891 |
Other Financial Assets - Summar
Other Financial Assets - Summary of Other Financial Assets (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | |
Current assets | |||
Current financial assets at amortised cost | ₩ 31,861 | ₩ 45,938 | |
Other current financial assets | 168,623 | 165,355 | |
Non-current assets | |||
Financial asset at fair value through profit or loss | 123,095 | 208,524 | |
Non-current financial assets at amortised cost | 50,531 | 80,574 | |
Other non-current financial assets | 173,626 | 289,098 | |
Derivatives [member] | |||
Current assets | |||
Current financial assets at fair value through profit or loss | [1] | 136,762 | 119,417 |
Non-current assets | |||
Financial asset at fair value through profit or loss | [1] | 32,941 | 110,663 |
Short term Loans And Receivables[member] | |||
Current assets | |||
Current financial assets at amortised cost | 26,375 | 30,062 | |
Equity securities [member] | |||
Non-current assets | |||
Financial asset at fair value through profit or loss | 87,027 | 96,064 | |
Convertible securities [member] | |||
Non-current assets | |||
Financial asset at fair value through profit or loss | 3,127 | 1,797 | |
Long term Loans And Receivables [member] | |||
Non-current assets | |||
Non-current financial assets at amortised cost | 33,509 | 58,806 | |
Deposits [member] | |||
Current assets | |||
Current financial assets at amortised cost | 1,356 | 8,962 | |
Non-current assets | |||
Non-current financial assets at amortised cost | 17,022 | 17,624 | |
Lease receivables [member] | |||
Current assets | |||
Current financial assets at amortised cost | ₩ 4,130 | 6,914 | |
Non-current assets | |||
Non-current financial assets at amortised cost | ₩ 4,144 | ||
[1] Represents cross currency interest rate swap contracts and others entered into by the Group to hedge currency and interest rate risks with respect to foreign currency denominated borrowings and bonds. The contracts are not designated as hedging instruments. |
Inventories - Summary of Invent
Inventories - Summary of Inventories (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Classes of current inventories [abstract] | ||
Finished goods | ₩ 750,775 | ₩ 822,177 |
Work-in-process | 1,145,606 | 1,235,363 |
Raw materials | 457,356 | 651,602 |
Supplies | 173,991 | 163,776 |
Inventories | ₩ 2,527,728 | ₩ 2,872,918 |
Inventories - Inventories Recog
Inventories - Inventories Recognized as Cost of Sales and Inventory Write-downs Included in Cost of Sales and Usage of Inventory Write-downs (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Write-downs (reversals of write-downs) of inventories [abstract] | |||
Inventories recognized as cost of sales | ₩ 20,985,643 | ₩ 25,027,703 | ₩ 24,572,939 |
Including: Inventory write-downs | 192,627 | 245,619 | 224,576 |
Usage of inventory write-downs | ₩ 245,619 | ₩ 224,576 | ₩ 213,932 |
Investments in Equity Account_3
Investments in Equity Accounted Investees - Summary of Associates (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of associates and joint ventures [Line Items] | |||
Fiscal year end | --12-31 | ||
Carrying amount | ₩ 84,329 | ₩ 109,119 | ₩ 126,719 |
Paju Electric Glass Co., Ltd. [member] | |||
Disclosure of associates and joint ventures [Line Items] | |||
Location | Paju,South Korea | ||
Fiscal year end | --12-31 | ||
Date of incorporation | 2005-01 | ||
Business | Manufacture glass for display | ||
Percentage of ownership | 40% | 40% | |
Carrying amount | ₩ 24,200 | ₩ 42,784 | ₩ 48,398 |
WooRee E&L Co., Ltd. [member] | |||
Disclosure of associates and joint ventures [Line Items] | |||
Location | Ansan,South Korea | ||
Fiscal year end | --12-31 | ||
Date of incorporation | 2008-06 | ||
Business | Manufacture LED back light unit packages | ||
Percentage of ownership | 13% | 13% | |
Carrying amount | ₩ 7,106 | ₩ 13,576 | |
YAS Co., Ltd. [member] | |||
Disclosure of associates and joint ventures [Line Items] | |||
Location | Paju,South Korea | ||
Fiscal year end | --12-31 | ||
Date of incorporation | 2002-04 | ||
Business | Develop and manufacture deposition equipment for OLEDs | ||
Percentage of ownership | 16% | 15% | |
Carrying amount | ₩ 28,564 | ₩ 28,976 | |
AVATEC Co., Ltd. [member] | |||
Disclosure of associates and joint ventures [Line Items] | |||
Location | Daegu,South Korea | ||
Fiscal year end | --12-31 | ||
Date of incorporation | 2000-08 | ||
Business | Process and sell glass for display | ||
Percentage of ownership | 14% | 14% | |
Carrying amount | ₩ 20,871 | ₩ 20,133 | |
Arctic Sentinel, Inc. (Fuhu, Inc.) [member] | |||
Disclosure of associates and joint ventures [Line Items] | |||
Location | Los Angeles, U.S.A. | ||
Fiscal year end | --03-31 | ||
Date of incorporation | 2008-06 | ||
Business | Develop and manufacturetablet for kids | ||
Percentage of ownership | 10% | 10% | |
Cynora GmbH [member] | |||
Disclosure of associates and joint ventures [Line Items] | |||
Location | Bruchsal,Germany | ||
Fiscal year end | --12-31 | ||
Date of incorporation | 2003-03 | ||
Business | Develop organic emitting materials for displays and lighting devices | ||
Percentage of ownership | 10% | 11% | |
Material Science Co Ltd [member] | |||
Disclosure of associates and joint ventures [Line Items] | |||
Location | Seoul,South Korea | ||
Fiscal year end | --12-31 | ||
Date of incorporation | 2014-01 | ||
Business | Develop, manufacture, and sell materials for display | ||
Percentage of ownership | 16% | 10% | |
Carrying amount | ₩ 3,588 | ₩ 3,650 |
Investments in Equity Account_4
Investments in Equity Accounted Investees - Summary of Associates (Parenthetical) (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
WooRee E&L Co., Ltd. [member] | ||
Disclosure of associates and joint ventures [Line Items] | ||
Percentage of ownership | 13% | 13% |
Impairment loss | ₩ 5,662 | |
YAS Co., Ltd. [member] | ||
Disclosure of associates and joint ventures [Line Items] | ||
Percentage of ownership | 16% | 15% |
AVATEC Co., Ltd. [member] | ||
Disclosure of associates and joint ventures [Line Items] | ||
Percentage of ownership | 14% | 14% |
Arctic Sentinel, Inc. (Fuhu, Inc.) [member] | ||
Disclosure of associates and joint ventures [Line Items] | ||
Percentage of ownership | 10% | 10% |
Cynora GmbH [member] | ||
Disclosure of associates and joint ventures [Line Items] | ||
Percentage of ownership | 10% | 11% |
Material Science Co Ltd [member] | ||
Disclosure of associates and joint ventures [Line Items] | ||
Percentage of ownership | 16% | 10% |
Impairment loss | ₩ 1,146 | |
Bottom of range [member] | ||
Disclosure of associates and joint ventures [Line Items] | ||
Investment, shareholding ratio | 10% | |
Top of range [member] | ||
Disclosure of associates and joint ventures [Line Items] | ||
Investment, shareholding ratio | 16% | |
Entity that has significant influence over the controlling company [member] | Top of range [member] | WooRee E&L Co., Ltd. [member] | ||
Disclosure of associates and joint ventures [Line Items] | ||
Percentage of ownership | 20% | |
Entity that has significant influence over the controlling company [member] | Top of range [member] | YAS Co., Ltd. [member] | ||
Disclosure of associates and joint ventures [Line Items] | ||
Percentage of ownership | 20% | |
Entity that has significant influence over the controlling company [member] | Top of range [member] | AVATEC Co., Ltd. [member] | ||
Disclosure of associates and joint ventures [Line Items] | ||
Percentage of ownership | 20% | |
Entity that has significant influence over the controlling company [member] | Top of range [member] | Arctic Sentinel, Inc. (Fuhu, Inc.) [member] | ||
Disclosure of associates and joint ventures [Line Items] | ||
Percentage of ownership | 20% | |
Entity that has significant influence over the controlling company [member] | Top of range [member] | Cynora GmbH [member] | ||
Disclosure of associates and joint ventures [Line Items] | ||
Percentage of ownership | 20% | |
Entity that has significant influence over the controlling company [member] | Top of range [member] | Material Science Co Ltd [member] | ||
Disclosure of associates and joint ventures [Line Items] | ||
Percentage of ownership | 20% |
Investments in Equity Account_5
Investments in Equity Accounted Investees - Additional Information (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of associates and joint ventures [Line Items] | |||
Dividends received from a joint venture and equity method investees | ₩ 15,200 | ₩ 4,461 | ₩ 4,068 |
WooRee E&L Co., Ltd. [member] | |||
Disclosure of associates and joint ventures [Line Items] | |||
Market value for Controlling Company's investments | 7,106 | ||
YAS Co., Ltd. [member] | |||
Disclosure of associates and joint ventures [Line Items] | |||
Market value for Controlling Company's investments | 21,320 | ||
AVATEC Co., Ltd. [member] | |||
Disclosure of associates and joint ventures [Line Items] | |||
Market value for Controlling Company's investments | ₩ 29,160 |
Investments in Equity Account_6
Investments in Equity Accounted Investees - Summary of Financial Information of Significant Associate (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of associates [Line Items] | |||
Total assets | ₩ 35,759,298 | ₩ 35,686,019 | |
Current assets | 9,503,186 | 9,444,035 | |
Non-current assets | 26,256,112 | 26,241,984 | |
Total liabilities | 26,988,754 | 24,366,792 | |
Current liabilities | 13,885,028 | 13,961,520 | |
Non-current liabilities | 13,103,726 | 10,405,272 | |
Revenue | 21,330,819 | 26,151,781 | ₩ 29,878,043 |
Profit (loss) for the year | (2,576,729) | (3,195,585) | 1,333,544 |
Other comprehensive loss | 70,306 | 40,947 | 701,612 |
Total comprehensive income (loss) for the year | (2,506,423) | (3,154,638) | 2,035,156 |
Paju Electric Glass Co., Ltd. [member] | |||
Disclosure of associates [Line Items] | |||
Total assets | 109,992 | 136,784 | |
Current assets | 94,705 | 98,490 | |
Non-current assets | 15,287 | 38,294 | |
Total liabilities | 47,875 | 29,118 | |
Current liabilities | 47,459 | 28,332 | |
Non-current liabilities | 416 | 786 | |
Revenue | 184,880 | 319,264 | 425,516 |
Profit (loss) for the year | (2,655) | 6,192 | 13,364 |
Other comprehensive loss | (4,894) | (10,216) | (1,258) |
Total comprehensive income (loss) for the year | ₩ (7,549) | ₩ (4,024) | ₩ 12,106 |
Investments in Equity Account_7
Investments in Equity Accounted Investees - Reconciliation from Financial Information of Significant Associate to its Carrying Value in Consolidated Financial Statements (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of associates [Line Items] | |||
Book value | ₩ 84,329 | ₩ 109,119 | ₩ 126,719 |
Paju Electric Glass Co., Ltd. [member] | |||
Disclosure of associates [Line Items] | |||
Net asset | ₩ 62,117 | ₩ 107,666 | |
Ownership interest | 40% | 40% | |
Net asset (applying ownership interest) | ₩ 24,847 | ₩ 43,066 | |
Intra-group transaction | (647) | (282) | |
Book value | ₩ 24,200 | ₩ 42,784 | ₩ 48,398 |
Investments in Equity Account_8
Investments in Equity Accounted Investees - Summary of Financial Information of Other Associates, in Aggregate (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of associates [Line Items] | |||
Investments in equity accounted investees | ₩ 84,329 | ₩ 109,119 | ₩ 126,719 |
Profit (loss) for the year | (2,576,729) | (3,195,585) | 1,333,544 |
Other comprehensive income (loss) | 70,306 | 40,947 | 701,612 |
Total comprehensive income (loss) for the year | (2,506,423) | (3,154,638) | 2,035,156 |
Other associates [member] | |||
Disclosure of associates [Line Items] | |||
Investments in equity accounted investees | 60,129 | 66,335 | ₩ 78,321 |
Profit (loss) for the year | (1,634) | 2,724 | |
Other comprehensive income (loss) | (722) | (7,516) | |
Total comprehensive income (loss) for the year | ₩ (2,356) | ₩ (4,792) |
Investments in Equity Account_9
Investments in Equity Accounted Investees - Changes in Investments in Associates and a Joint Venture Accounted for Using The Equity Method (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of associates [Line Items] | |||
Beginning balance | ₩ 109,119 | ₩ 126,719 | |
Reclassification | (10,620) | ||
Dividends received | (15,200) | (4,461) | ₩ (4,068) |
Equity income on investments | (3,061) | 5,558 | 7,780 |
Other comprehensive income (loss) | (2,679) | (11,603) | |
Other gain (loss) | (3,850) | 3,526 | |
Ending balance | 84,329 | 109,119 | 126,719 |
Paju Electric Glass Co., Ltd. [member] | |||
Disclosure of associates [Line Items] | |||
Beginning balance | 42,784 | 48,398 | |
Dividends received | (15,200) | (4,361) | |
Equity income on investments | (1,427) | 2,834 | |
Other comprehensive income (loss) | (1,957) | (4,087) | |
Ending balance | 24,200 | 42,784 | 48,398 |
Other associates [member] | |||
Disclosure of associates [Line Items] | |||
Beginning balance | 66,335 | 78,321 | |
Reclassification | (10,620) | ||
Dividends received | 0 | (100) | |
Equity income on investments | (1,634) | 2,724 | |
Other comprehensive income (loss) | (722) | (7,516) | |
Other gain (loss) | (3,850) | 3,526 | |
Ending balance | ₩ 60,129 | ₩ 66,335 | ₩ 78,321 |
Property, Plant and Equipment -
Property, Plant and Equipment - Changes in Property, Plant and Equipment (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | ₩ 20,946,933 | ₩ 20,558,446 |
Additions and others | 3,467,487 | 5,782,395 |
Depreciation | (3,636,782) | (3,985,785) |
Disposals | (552,772) | (213,555) |
Impairment loss | (60,065) | (1,257,255) |
Others | (11,206) | (36,809) |
Government grants received | (7,417) | (57,503) |
Gain or loss on foreign currency translation | 54,154 | 156,999 |
Ending Balance | 20,200,332 | 20,946,933 |
Gross carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | 72,518,077 | 68,456,190 |
Ending Balance | 72,980,884 | 72,518,077 |
Accumulated depreciation and amortisation [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | (48,926,350) | (46,346,385) |
Ending Balance | (50,139,246) | (48,926,350) |
Accumulated impairment [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | (2,644,794) | (1,551,359) |
Ending Balance | (2,641,306) | (2,644,794) |
Land [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | 476,045 | |
Disposals | (330) | (3,573) |
Others | (2,902) | 45,771 |
Ending Balance | 472,813 | 476,045 |
Land [member] | Previously stated [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | 476,045 | 433,847 |
Ending Balance | 476,045 | |
Land [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | 476,045 | 433,847 |
Ending Balance | 472,813 | 476,045 |
Buildings and structures [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | 3,903,946 | |
Depreciation | (376,264) | (373,089) |
Disposals | (758) | 0 |
Impairment loss | 8 | (252,997) |
Others | 1,494,070 | 196,747 |
Gain or loss on foreign currency translation | 9,189 | 27,755 |
Ending Balance | 5,030,191 | 3,903,946 |
Buildings and structures [member] | Previously stated [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | 3,903,946 | 4,305,530 |
Ending Balance | 3,903,946 | |
Buildings and structures [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | 8,699,292 | 8,583,015 |
Ending Balance | 10,192,281 | 8,699,292 |
Buildings and structures [member] | Accumulated depreciation and amortisation [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | (4,348,201) | (4,068,333) |
Ending Balance | (4,715,087) | (4,348,201) |
Buildings and structures [member] | Accumulated impairment [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | (447,145) | (209,152) |
Ending Balance | (447,003) | (447,145) |
Machinery And Equipment1 [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | 6,184,199 | |
Depreciation | (2,837,242) | (3,182,783) |
Disposals | (506,420) | (172,547) |
Impairment loss | (53,513) | (672,061) |
Others | 3,963,010 | 1,732,712 |
Government grants received | (7,417) | (57,503) |
Gain or loss on foreign currency translation | 39,066 | 116,514 |
Ending Balance | 6,781,683 | 6,184,199 |
Machinery And Equipment1 [member] | Previously stated [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | 6,184,199 | 8,419,867 |
Ending Balance | 6,184,199 | |
Machinery And Equipment1 [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | 50,722,745 | 50,288,095 |
Ending Balance | 52,107,890 | 50,722,745 |
Machinery And Equipment1 [member] | Accumulated depreciation and amortisation [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | (42,744,139) | (40,637,254) |
Ending Balance | (43,466,025) | (42,744,139) |
Machinery And Equipment1 [member] | Accumulated impairment [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | (1,794,407) | (1,230,974) |
Ending Balance | (1,860,182) | (1,794,407) |
Furniture and fixtures [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | 169,218 | |
Depreciation | (75,727) | (83,747) |
Disposals | (1,896) | (477) |
Impairment loss | (6) | (6,912) |
Others | 60,585 | 78,497 |
Gain or loss on foreign currency translation | 964 | 2,738 |
Ending Balance | 153,138 | 169,218 |
Furniture and fixtures [member] | Previously stated [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | 169,218 | 179,119 |
Ending Balance | 169,218 | |
Furniture and fixtures [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | 902,477 | 863,241 |
Ending Balance | 942,376 | 902,477 |
Furniture and fixtures [member] | Accumulated depreciation and amortisation [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | (719,862) | (675,638) |
Ending Balance | (775,953) | (719,862) |
Furniture and fixtures [member] | Accumulated impairment [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | (13,397) | (8,484) |
Ending Balance | (13,285) | (13,397) |
Construction-in-progress [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | 9,789,710 | |
Additions and others | 3,392,876 | 5,709,828 |
Impairment loss | (292,564) | |
Others | (5,900,151) | (2,425,047) |
Gain or loss on foreign currency translation | 3,626 | 5,895 |
Ending Balance | 7,286,061 | 9,789,710 |
Construction-in-progress [member] | Previously stated [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | 9,789,710 | 6,791,598 |
Ending Balance | 9,789,710 | |
Construction-in-progress [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | 10,145,865 | 6,867,667 |
Ending Balance | 7,571,687 | 10,145,865 |
Construction-in-progress [member] | Accumulated impairment [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | (356,155) | (76,069) |
Ending Balance | (285,626) | (356,155) |
Others [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | 311,157 | |
Depreciation | (279,200) | (269,796) |
Disposals | (43,368) | (36,958) |
Impairment loss | (6,554) | (29,282) |
Others | 374,182 | 334,931 |
Gain or loss on foreign currency translation | 983 | 3,643 |
Ending Balance | 357,200 | 311,157 |
Others [member] | Previously stated [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | 311,157 | 308,619 |
Ending Balance | 311,157 | |
Others [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | 1,299,892 | 1,184,889 |
Ending Balance | 1,448,688 | 1,299,892 |
Others [member] | Accumulated depreciation and amortisation [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | (962,598) | (853,778) |
Ending Balance | (1,062,377) | (962,598) |
Others [member] | Accumulated impairment [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | (26,137) | (22,492) |
Ending Balance | (29,111) | (26,137) |
Right-of-use assets [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | 112,658 | |
Additions and others | 74,611 | 72,567 |
Depreciation | (68,349) | (76,370) |
Impairment loss | (3,439) | |
Others | (420) | |
Gain or loss on foreign currency translation | 326 | 454 |
Ending Balance | 119,246 | 112,658 |
Right-of-use assets [member] | Previously stated [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | 112,658 | 119,866 |
Ending Balance | 112,658 | |
Right-of-use assets [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | 271,761 | 235,436 |
Ending Balance | 245,149 | 271,761 |
Right-of-use assets [member] | Accumulated depreciation and amortisation [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | (151,550) | (111,382) |
Ending Balance | (119,804) | (151,550) |
Right-of-use assets [member] | Accumulated impairment [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Beginning Balance | (7,553) | (4,188) |
Ending Balance | ₩ (6,099) | ₩ (7,553) |
Property, Plant and Equipment_2
Property, Plant and Equipment - Changes in Property, Plant and Equipment (Parenthetical) (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Impairment losses | ₩ 60,065 | ||
Impairment loss on property, plant and equipment | ₩ 60,072 | ₩ 1,260,436 | ₩ 19,085 |
Display CGU [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Impairment loss on property, plant and equipment | ₩ 1,236,563 |
Property, Plant and Equipment_3
Property, Plant and Equipment - Capitalized Borrowing Costs and Capitalization Rate (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Borrowing costs [abstract] | |||
Capitalized borrowing costs | ₩ 258,168 | ₩ 152,074 | ₩ 64,606 |
Capitalization rate | 5.18% | 3.11% | 3.69% |
Property, Plant and Equipment_4
Property, Plant and Equipment - Additional information (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |||
Rental income from property plant and equipment | ₩ 2,271 | ₩ 2,806 | ₩ 1,978 |
Intangible Assets and Non-fin_3
Intangible Assets and Non-financial Assets Impairment - Changes in Intangible Assets (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | ₩ 1,752,957 | ₩ 1,644,898 | |
Amortization | (656,429) | (570,868) | |
Disposals | (4,394) | (11,585) | |
Impairment loss | (54,833) | (134,397) | |
Reversal of impairment loss on intangible assets | 242 | 1,975 | ₩ 1,152 |
Transfer from construction-in-progress | 1,278 | ||
Effect of movements in exchange rates | 5,739 | 8,116 | |
Ending balance | 1,773,955 | 1,752,957 | 1,644,898 |
Internally developed [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Additions | 493,608 | 502,755 | |
External purchases [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Additions | 235,787 | 314,038 | |
Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 5,680,075 | 5,147,300 | |
Ending balance | 6,138,330 | 5,680,075 | 5,147,300 |
Accumulated depreciation and amortisation [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | (3,643,902) | (3,319,117) | |
Ending balance | (4,032,078) | (3,643,902) | (3,319,117) |
Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | (283,216) | (183,285) | |
Ending balance | (332,297) | (283,216) | (183,285) |
Intellectual property rights [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 897,656 | 928,318 | |
Amortization | (187,819) | (192,983) | |
Disposals | (202) | ||
Impairment loss | (1,633) | (34,901) | |
Effect of movements in exchange rates | 2,433 | 10,108 | |
Ending balance | 828,779 | 897,656 | 928,318 |
Intellectual property rights [member] | External purchases [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Additions | 118,344 | 187,114 | |
Intellectual property rights [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 2,074,083 | 1,873,027 | |
Ending balance | 2,189,071 | 2,074,083 | 1,873,027 |
Intellectual property rights [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | (1,115,014) | (915,764) | |
Ending balance | (1,299,655) | (1,115,014) | (915,764) |
Intellectual property rights [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | (61,413) | (28,945) | |
Ending balance | (60,637) | (61,413) | (28,945) |
Software [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 211,573 | 228,861 | |
Amortization | (105,285) | (105,615) | |
Disposals | (396) | (977) | |
Impairment loss | (425) | (17,799) | |
Transfer from construction-in-progress | 115,275 | 85,319 | |
Effect of movements in exchange rates | 2,712 | (2,957) | |
Ending balance | 223,454 | 211,573 | 228,861 |
Software [member] | External purchases [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Additions | 24,741 | ||
Software [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 1,340,637 | 1,261,232 | |
Ending balance | 1,403,157 | 1,340,637 | 1,261,232 |
Software [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | (1,108,459) | (1,023,062) | |
Ending balance | (1,160,702) | (1,108,459) | (1,023,062) |
Software [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | (20,605) | (9,309) | |
Ending balance | (19,001) | (20,605) | (9,309) |
Memberships [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 25,470 | 29,083 | |
Disposals | (3,796) | (10,608) | |
Impairment loss | (42) | ||
Reversal of impairment loss on intangible assets | 242 | ||
Effect of movements in exchange rates | 6 | 33 | |
Ending balance | 21,922 | 25,470 | 29,083 |
Memberships [member] | External purchases [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Additions | 7,004 | ||
Memberships [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 27,170 | 30,742 | |
Ending balance | 23,463 | 27,170 | 30,742 |
Memberships [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | (1,700) | (1,659) | |
Ending balance | (1,541) | (1,700) | (1,659) |
Development costs [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 565,219 | 389,215 | |
Amortization | (363,162) | (272,102) | |
Impairment loss | (52,775) | (54,649) | |
Transfer from construction-in-progress | (1,429) | ||
Ending balance | 641,461 | 565,219 | 389,215 |
Development costs [member] | Internally developed [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Additions | 493,608 | 502,755 | |
Development costs [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 2,016,477 | 1,771,383 | |
Ending balance | 2,295,468 | 2,016,477 | 1,771,383 |
Development costs [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | (1,358,446) | (1,318,476) | |
Ending balance | (1,509,575) | (1,358,446) | (1,318,476) |
Development costs [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | (92,812) | (63,692) | |
Ending balance | (144,432) | (92,812) | (63,692) |
Construction -in-progress [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 28,169 | 19,562 | |
Transfer from construction-in-progress | (112,568) | (85,319) | |
Effect of movements in exchange rates | (8) | (1,253) | |
Ending balance | 33,036 | 28,169 | 19,562 |
Construction -in-progress [member] | External purchases [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Additions | 117,443 | 95,179 | |
Construction -in-progress [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 28,169 | 19,562 | |
Ending balance | 33,036 | 28,169 | 19,562 |
Customer relationships [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 59,176 | 59,176 | |
Ending balance | 59,176 | 59,176 | 59,176 |
Customer relationships [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | (37,491) | (37,491) | |
Ending balance | (37,491) | (37,491) | (37,491) |
Customer relationships [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | (21,685) | (21,685) | |
Ending balance | (21,685) | (21,685) | (21,685) |
Technology [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 1,309 | 1,520 | |
Amortization | (163) | (168) | |
Impairment loss | (43) | ||
Ending balance | 1,146 | 1,309 | 1,520 |
Technology [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 12,763 | 12,763 | |
Ending balance | 12,763 | 12,763 | 12,763 |
Technology [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | (11,411) | (11,243) | |
Ending balance | (11,574) | (11,411) | (11,243) |
Technology [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | (43) | ||
Ending balance | (43) | (43) | |
Goodwill [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 23,561 | 48,339 | |
Impairment loss | (26,963) | ||
Effect of movements in exchange rates | 596 | 2,185 | |
Ending balance | 24,157 | 23,561 | 48,339 |
Goodwill [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 108,519 | 106,334 | |
Ending balance | 109,115 | 108,519 | 106,334 |
Goodwill [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | (84,958) | (57,995) | |
Ending balance | (84,958) | (84,958) | (57,995) |
Others [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 13,081 | 13,081 | |
Ending balance | 13,081 | 13,081 | 13,081 |
Others [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | (13,081) | (13,081) | |
Ending balance | ₩ (13,081) | ₩ (13,081) | ₩ (13,081) |
Intangible Assets and Non-fin_4
Intangible Assets and Non-financial Assets Impairment - Changes in Intangible Assets (Parenthetical) (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Development Projects [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||
Impairment loss on intangible assets | ₩ 52,775 | ₩ 33,386 |
Other Expenses [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||
Impairment loss on intangible assets | ₩ 93,966 |
Intangible Assets and Non-fin_5
Intangible Assets and Non-financial Assets Impairment - Summary of Development Costs (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of development costs of intangible assets [line items] | ||
Development completed | ₩ 297,492 | ₩ 279,423 |
Development in process | 343,969 | 285,796 |
Development costs | 641,461 | 565,219 |
Televisions [member] | ||
Disclosure of development costs of intangible assets [line items] | ||
Development completed | 43,956 | 55,187 |
Development in process | 46,368 | 60,376 |
I T [Member] | ||
Disclosure of development costs of intangible assets [line items] | ||
Development completed | 63,049 | 24,684 |
Development in process | 175,023 | 100,380 |
Mobile and Others [member] | ||
Disclosure of development costs of intangible assets [line items] | ||
Development completed | 190,487 | 199,552 |
Development in process | ₩ 122,578 | ₩ 125,040 |
Intangible Assets and Non-fin_6
Intangible Assets and Non-financial Assets Impairment - Summary of Intellectual Property Rights (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Intellectual property rights [line items] | ||
Patent | ₩ 826,435 | ₩ 895,741 |
Other | 2,344 | 1,915 |
Intellectual property rights, net | ₩ 828,779 | ₩ 897,656 |
Remaining amortaization period | 3 years 7 months 6 days | 3 years 7 months 6 days |
Direct additions | ||
Intellectual property rights [line items] | ||
Patent | ₩ 214,634 | ₩ 198,136 |
Remaining amortaization period | 7 years 1 month 6 days | 7 years 2 months 12 days |
Licenses agreement | ||
Intellectual property rights [line items] | ||
Patent | ₩ 611,801 | ₩ 697,605 |
Remaining amortaization period | 5 years 6 months | 6 years |
Intangible Assets and Non-fin_7
Intangible Assets and Non-financial Assets Impairment - Summary of carrying amount of goodwill (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of information for cash-generating units [line items] | |||
Goodwill Allocated To CGU | ₩ 23,561 | ₩ 48,339 | |
Effect of movements in exchange rates | 2,185 | ||
Impairment | (26,963) | ||
Display CGU [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill Allocated To CGU | 23,561 | ₩ 48,339 | |
Effect of movements in exchange rates | 2,185 | ||
Changes in Cash Generating Unit | ₩ (26,963) | ||
Pre-tax discount rate | 10.90% | 10.80% | 10.50% |
Post-tax discount rate | 9% | 9% | 8.40% |
Terminal growth rate | 1% | 1% | 1% |
Display Large OLED CGU [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Changes in Cash Generating Unit | ₩ 26,963 | ||
Impairment | ₩ (26,963) | ||
Pre-tax discount rate | 10.50% | ||
Post-tax discount rate | 9% | ||
Terminal growth rate | 1% |
Intangible Assets and Non-fin_8
Intangible Assets and Non-financial Assets Impairment - Additional Information (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Display CGU [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Percentage Increase In Discount Rate | 0.92% | 0.28% |
Percentage Decrease In Terminal Growth Rate | 0.31% | |
Amount by which units recoverable amount exceeds its carrying amount | ₩ 975,459 | ₩ 365,774 |
Display Large OLED CGU [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Percentage Increase In Discount Rate | 0.50% | |
Percentage of decrease in discount rate value in use | (8.80%) | |
Percentage of decrease in terminal growth rate value in use | (6.70%) | |
Percentage Decrease In Terminal Growth Rate | 0.50% | |
Decreased Amount Of Value In Use | ₩ 262,590 | |
Decreased amount of value in use by changing of terminal growth rate | 201,256 | |
Amount by which units recoverable amount exceeds its carrying amount | 2,999,393 | |
Impairment losses | ₩ 1,330,529 |
Investment Property - Summary o
Investment Property - Summary of Changes in Investment Property (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Changes in investment property [abstract] | ||
Investment property at beginning of period | ₩ 28,269 | |
Transfer from property, plant and equipment | 9,928 | ₩ 36,809 |
Depreciation | (4,962) | (804) |
Impairment loss | (7,736) | |
Others | (240) | |
Investment property at end of period | ₩ 32,995 | ₩ 28,269 |
Investment Property - Additiona
Investment Property - Additional Information (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of detailed information about investment property [abstract] | ||
Rental income from investment property | ₩ 5,478 | ₩ 358 |
Financial Liabilities - Summary
Financial Liabilities - Summary of Financial Liabilities (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | |
Current | |||
Short-term borrowings | ₩ 1,875,635 | ₩ 2,578,552 | |
Current portion of long-term borrowings | 2,934,693 | 2,538,917 | |
Current portion of bonds | 369,716 | 316,648 | |
Derivatives | [1] | 26,193 | 14,443 |
Fair value hedging derivatives | [2] | 7,392 | 0 |
Lease liabilities | 48,666 | 40,694 | |
Current financial liabilities | 5,262,295 | 5,489,254 | |
Non-current | |||
Long-term borrowings | 10,230,658 | 8,425,195 | |
Bonds | 1,118,427 | 1,132,098 | |
Derivatives | [1] | 37,333 | 32,965 |
Fair value hedging derivatives | [2] | 28,660 | 0 |
Lease liabilities | 24,698 | 32,094 | |
Non-current financial liabilities | ₩ 11,439,776 | ₩ 9,622,352 | |
[1] (*1) Represents cross currency interest rate swap contracts and others entered into by the Group to hedge currency and interest rate risks with respect to foreign currency denominated borrowings and bonds. The contracts are not designated as hedging instruments. (*2) Represents forward exchange contracts entered into by the Group to hedge exchange rate risks with respect to advances received in foreign currency. The contracts are designated as hedging instruments. |
Financial Liabilities - Summa_2
Financial Liabilities - Summary of Short-term Borowings (Detail) ₩ in Millions, ¥ in Millions, $ in Millions | 12 Months Ended | |||||
Dec. 31, 2023 KRW (₩) | Dec. 31, 2023 USD ($) | Dec. 31, 2023 CNY (¥) | Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2022 CNY (¥) | |
Disclosure of detailed information about borrowings [Line Items] | ||||||
Short-term borrowings | ₩ 1,875,635 | ₩ 2,578,552 | ||||
Standard Chartered Bank Korea Limited and others [member] | Bottom of range [member] | ||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||
Short term borrowings, annual interest rate description | 3.40 | |||||
Standard Chartered Bank Korea Limited and others [member] | Top of range [member] | ||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||
Short term borrowings, annual interest rate description | 6.95 | |||||
Won [member] | Standard Chartered Bank Korea Limited and others [member] | ||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||
Short-term borrowings | ₩ 1,875,635 | ₩ 2,578,552 | ||||
Foreign currencies [member] | ||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||
Short-term borrowings | $ 747 | ¥ 345 | $ 1,252 | ¥ 1,000 |
Financial Liabilities - Summa_3
Financial Liabilities - Summary of Long-term Borrowings (Detail) ₩ in Millions, ¥ in Millions, $ in Millions | 12 Months Ended | |||||
Dec. 31, 2023 KRW (₩) | Dec. 31, 2023 USD ($) | Dec. 31, 2023 CNY (¥) | Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2022 CNY (¥) | |
Disclosure of detailed information about borrowings [Line Items] | ||||||
Long-term borrowings | ₩ 16,529,129 | ₩ 14,991,410 | ||||
Noncurrent portion of long-term borrowings | 10,230,658 | 8,425,195 | ||||
Less current portion of long-term borrowings | ₩ (2,934,693) | (2,538,917) | ||||
KEB Hana Bank and others [Member] | Bottom of range [member] | ||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||
Long-term borrowings, annual interest rate description | 1.82 | |||||
KEB Hana Bank and others [Member] | Top of range [member] | ||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||
Long-term borrowings, annual interest rate description | 8.60 | |||||
LG Electronics Inc. [member] | ||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||
Long-term borrowings, annual interest rate description | 6.06 | |||||
Korea development bank and others [member] | Bottom of range [member] | ||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||
Long-term borrowings, annual interest rate description | 1.90 | |||||
Korea development bank and others [member] | Top of range [member] | ||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||
Long-term borrowings, annual interest rate description | 7.50 | |||||
Foreign currencies [member] | ||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||
Long-term borrowings | $ 3,222 | ¥ 24,991 | $ 3,494 | ¥ 19,569 | ||
Less current portion of long-term borrowings | ₩ (2,158,693) | (1,197,417) | ||||
Noncurrent portion of long-term borrowings | 6,515,691 | 6,780,593 | ||||
Foreign currencies [member] | KEB Hana Bank and others [Member] | ||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||
Long-term borrowings | 8,674,384 | 7,978,010 | ||||
Won [member] | ||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||
Noncurrent portion of long-term borrowings | 3,714,967 | 1,644,602 | ||||
Less current portion of long-term borrowings | (776,000) | (1,341,500) | ||||
Won [member] | LG Electronics Inc. [member] | ||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||
Long-term borrowings | 1,000,000 | |||||
Won [member] | Korea development bank and others [member] | ||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||
Long-term borrowings | ₩ 3,490,967 | ₩ 2,986,102 |
Financial Liabilities - Details
Financial Liabilities - Details of Bonds Issued and Outstanding (Detail) ₩ in Millions, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2023 KRW (₩) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | ||
Disclosure of detailed information about borrowings [Line Items] | |||||
Less current portion | ₩ (369,716) | ₩ (316,648) | |||
Bonds, non-current | 1,118,427 | 1,132,098 | |||
Won [member] | |||||
Disclosure of detailed information about borrowings [Line Items] | |||||
Less current portion | [1] | (369,716) | (189,975) | ||
Bonds, non-current | [1] | 990,164 | 1,132,098 | ||
Gross carrying amount [member] | Won [member] | Publicly issued bonds [Member] | |||||
Disclosure of detailed information about borrowings [Line Items] | |||||
Bonds | [1] | 1,025,000 | 1,215,000 | ||
Gross carrying amount [member] | Won [member] | Privately issued bonds [member] | |||||
Disclosure of detailed information about borrowings [Line Items] | |||||
Bonds | [1] | 337,000 | 110,000 | ||
Gross carrying amount [member] | Foreign currencies [member] | Privately issued bonds [member] | |||||
Disclosure of detailed information about borrowings [Line Items] | |||||
Bonds issued | [2] | (128,940) | (126,730) | ||
Discount on bonds [member] | Won [member] | |||||
Disclosure of detailed information about borrowings [Line Items] | |||||
Bonds | [1] | ₩ (2,120) | (2,927) | ||
Bonds issued and outstanding [member] | Denominated bonds at amortized costs [Member] | Foreign currencies [member] | Privately issued bonds [member] | |||||
Disclosure of detailed information about borrowings [Line Items] | |||||
Bonds issued and outstanding, maturity period | [2] | April 2026 | |||
Bonds issued and outstanding, annual interest rate | [2] | 7.29% | 7.29% | ||
Bonds issued and outstanding [member] | Bottom of range [member] | Won [member] | Publicly issued bonds [Member] | |||||
Disclosure of detailed information about borrowings [Line Items] | |||||
Bonds issued and outstanding, maturity period | [1] | February 2024 | |||
Bonds issued and outstanding, annual interest rate | [1] | 2.29% | 2.29% | ||
Bonds issued and outstanding [member] | Bottom of range [member] | Won [member] | Privately issued bonds [member] | |||||
Disclosure of detailed information about borrowings [Line Items] | |||||
Bonds issued and outstanding, maturity period | [1] | January 2025 | |||
Bonds issued and outstanding, annual interest rate | [1] | 7.20% | 7.20% | ||
Bonds issued and outstanding [member] | Top of range [member] | Won [member] | Publicly issued bonds [Member] | |||||
Disclosure of detailed information about borrowings [Line Items] | |||||
Bonds issued and outstanding, maturity period | [1] | February 2027 | |||
Bonds issued and outstanding, annual interest rate | [1] | 3.66% | 3.66% | ||
Bonds issued and outstanding [member] | Top of range [member] | Won [member] | Privately issued bonds [member] | |||||
Disclosure of detailed information about borrowings [Line Items] | |||||
Bonds issued and outstanding, maturity period | [1] | January 2026 | |||
Bonds issued and outstanding, annual interest rate | [1] | 7.25% | 7.25% | ||
Denominated bonds at amortized cost [Member] | Foreign currencies [member] | |||||
Disclosure of detailed information about borrowings [Line Items] | |||||
Less current portion | (126,673) | ||||
Bonds, non-current | [2] | ₩ 128,263 | |||
Denominated bonds at amortized cost [Member] | Gross carrying amount [member] | Foreign currencies [member] | Contractual par amount [member] | |||||
Disclosure of detailed information about borrowings [Line Items] | |||||
Bonds issued | $ | [2] | $ (100) | $ (100) | ||
Denominated bonds at amortized cost [Member] | Gross carrying amount [member] | Foreign currencies [member] | Discount on bonds [member] | |||||
Disclosure of detailed information about borrowings [Line Items] | |||||
Bonds issued | $ | [2] | $ (1) | $ 0 | ||
Denominated bonds at amortized cost [Member] | Discount on bonds [member] | Foreign currencies [member] | |||||
Disclosure of detailed information about borrowings [Line Items] | |||||
Bonds | [2] | ₩ (677) | ₩ (57) | ||
[1] (*1) Principal of the won denominated bonds is to be repaid at maturity and interests are paid quarterly. (*2) Principal of the foreign currency denominated bonds is to be repaid at maturity and interests are paid quarterly. |
Employee Benefits - Net Defined
Employee Benefits - Net Defined Benefit Liabilities (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of defined benefit plans [abstract] | ||
Present value of partially funded defined benefit obligations | ₩ 1,491,146 | ₩ 1,602,697 |
Fair value of plan assets | (1,897,025) | (2,048,687) |
Total | (405,879) | (445,990) |
Defined benefit liabilities, net | 1,559 | 1,531 |
Defined benefit assets, net | ₩ 407,438 | ₩ 447,521 |
Employee Benefits - Changes in
Employee Benefits - Changes in Present Value of Defined Benefit Obligations (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of net defined benefit liability (asset) [Line Items] | |||
Current service cost | ₩ 173,879 | ₩ 173,534 | ₩ 150,136 |
Net Interest cost | (23,942) | (5,274) | (5,895) |
Defined benefit obligations [member] | |||
Disclosure of net defined benefit liability (asset) [Line Items] | |||
Defined benefit obligations at January 1 | 1,602,697 | 1,684,096 | |
Current service cost | 173,879 | 173,534 | |
Net Interest cost | 83,793 | 59,104 | |
Remeasurements (before tax) | (65,505) | (195,908) | |
Benefit payments | (287,100) | (116,472) | |
Net transfers from (to) related parties | (16,551) | (1,363) | |
Others | (67) | (294) | |
Defined benefit obligations at December 31 | ₩ 1,491,146 | ₩ 1,602,697 | ₩ 1,684,096 |
Employee Benefits - Additional
Employee Benefits - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of defined benefit plans [abstract] | ||
Weighted average remaining maturity of defined benefit obligations | 12 years 2 months 12 days | 12 years 11 months 12 days |
Employee Benefits - Changes i_2
Employee Benefits - Changes in Fair Value of Plan Assets (Detail) - Fair value of plan assets [member] - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of net defined benefit liability (asset) [Line Items] | ||
Fair value of plan assets at January 1 | ₩ 2,048,687 | ₩ 1,750,783 |
Expected return on plan assets | 107,735 | 64,378 |
Remeasurements (before tax) | (870) | (30,044) |
Contributions by employer directly to plan assets | 2,219 | 371,398 |
Benefit payments | (260,528) | (107,828) |
Participation In Transfers Of Plan Asset Between Group Entities Related Party Transactions | (218) | |
Fair value of plan assets at December 31 | ₩ 1,897,025 | ₩ 2,048,687 |
Employee Benefits - Details of
Employee Benefits - Details of Plan Assets (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of fair value of plan assets [abstract] | ||
Guaranteed deposits in banks | ₩ 1,897,025 | ₩ 2,048,687 |
Employee Benefits - Expenses Re
Employee Benefits - Expenses Related to Defined Benefit Plans Recognized in Profit or Loss and Line Items Included in Consolidated Statements of Comprehensive Income (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of net defined benefit liability (asset) [Line Items] | |||
Current service cost | ₩ 173,879 | ₩ 173,534 | ₩ 150,136 |
Net interest cost | (23,942) | (5,274) | (5,895) |
Expenses related to defined benefit plans | 149,937 | 168,260 | 144,241 |
Cost of sales [member] | |||
Disclosure of net defined benefit liability (asset) [Line Items] | |||
Expenses related to defined benefit plans | 114,226 | 128,706 | 110,750 |
Selling expenses [member] | |||
Disclosure of net defined benefit liability (asset) [Line Items] | |||
Expenses related to defined benefit plans | 7,138 | 8,017 | 6,631 |
Administrative expenses [member] | |||
Disclosure of net defined benefit liability (asset) [Line Items] | |||
Expenses related to defined benefit plans | 16,865 | 18,780 | 16,496 |
Research and development expenses [member] | |||
Disclosure of net defined benefit liability (asset) [Line Items] | |||
Expenses related to defined benefit plans | ₩ 11,708 | ₩ 12,757 | ₩ 10,364 |
Employee Benefits - Remeasureme
Employee Benefits - Remeasurements of Net Defined Benefit Liabilities (Assets) Included in Other Comprehensive Income (Loss) (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of net defined benefit liability (asset) [Line Items] | |||
Group's share of associates regarding remeasurements | ₩ 170 | ₩ 32 | ₩ (84) |
Related income tax | (14,818) | (43,503) | 57,438 |
Remeasurements of net defined benefit liabilities (assets) [member] | |||
Disclosure of net defined benefit liability (asset) [Line Items] | |||
Beginning balance | (2,900) | (125,293) | 38,154 |
Actuarial profit or loss arising from: Experience adjustment | 66,461 | (83,376) | (124,974) |
Actuarial profit or loss arising from: Demographic assumptions | (85) | (8,020) | (7,206) |
Actuarial profit or loss arising from: Financial assumptions | (871) | 287,304 | (73,138) |
Return on plan assets | (870) | (30,044) | (15,483) |
Group's share of associates regarding remeasurements | 170 | 32 | (84) |
Remeasurements | 64,805 | 165,896 | (220,885) |
Related income tax | (14,818) | (43,503) | 57,438 |
Ending balance | ₩ 47,087 | ₩ (2,900) | ₩ (125,293) |
Employee Benefits - Principal A
Employee Benefits - Principal Actuarial Assumptions (Detail) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | ||
Expected rate of salary increase | 4% | 4.70% |
Discount rate for defined benefit obligations | 4.60% | 5.40% |
Males [member] | ||
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | ||
Actuarial assumption of expected rates of mortality at teenage | 0% | 0% |
Actuarial assumption of expected rates of mortality at twenties | 0.01% | 0.01% |
Actuarial assumption of expected rates of mortality at thirties | 0.01% | 0.01% |
Actuarial assumption of expected rates of mortality at forties | 0.02% | 0.02% |
Actuarial assumption of expected rates of mortality at fifties | 0.04% | 0.04% |
Females [member] | ||
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | ||
Actuarial assumption of expected rates of mortality at teenage | 0% | 0% |
Actuarial assumption of expected rates of mortality at twenties | 0% | 0% |
Actuarial assumption of expected rates of mortality at thirties | 0% | 0% |
Actuarial assumption of expected rates of mortality at forties | 0.01% | 0.01% |
Actuarial assumption of expected rates of mortality at fifties | 0.02% | 0.02% |
Employee Benefits - Amounts of
Employee Benefits - Amounts of Defined Benefit Obligations Affected by Reasonably Possible Changes to Respective Relevant Actuarial Assumptions (Detail) ₩ in Millions | Dec. 31, 2023 KRW (₩) |
Discount rate for defined benefit obligations [member] | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |
Defined benefit obligation 1% increase | ₩ (157,102) |
Defined benefit obligation 1% decrease | 184,374 |
Expected rate of salary increase [member] | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |
Defined benefit obligation 1% increase | 192,107 |
Defined benefit obligation 1% decrease | ₩ (165,703) |
Provisions - Changes in Provisi
Provisions - Changes in Provisions (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of other provisions [Line Items] | ||
Beginning balance | ₩ 259,479 | ₩ 266,373 |
Additions (reversals) | 99,421 | 252,259 |
Usage | (177,419) | (259,153) |
Ending balance | 181,481 | 259,479 |
Current | 117,676 | 173,322 |
Non-current | 63,805 | 86,157 |
Litigation and claims [member] | ||
Disclosure of other provisions [Line Items] | ||
Beginning balance | 1,680 | |
Additions (reversals) | 126 | 1,680 |
Ending balance | 1,806 | 1,680 |
Current | 1,806 | 1,680 |
Warranties [member] | ||
Disclosure of other provisions [Line Items] | ||
Beginning balance | 249,368 | 257,126 |
Additions (reversals) | 101,846 | 251,395 |
Usage | (177,419) | (259,153) |
Ending balance | 173,795 | 249,368 |
Current | 109,990 | 163,211 |
Non-current | 63,805 | 86,157 |
Others [member] | ||
Disclosure of other provisions [Line Items] | ||
Beginning balance | 8,431 | 9,247 |
Additions (reversals) | (2,551) | (816) |
Ending balance | 5,880 | 8,431 |
Current | ₩ 5,880 | ₩ 8,431 |
Contingent Liabilities and Co_3
Contingent Liabilities and Commitments - Additional Information (Detail) ₫ in Millions, ₩ in Millions, ¥ in Millions, ¥ in Millions, $ in Millions | Dec. 31, 2023 KRW (₩) | Dec. 31, 2023 USD ($) | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 JPY (¥) | Dec. 31, 2023 VND (₫) | Dec. 31, 2022 KRW (₩) |
Disclosure of contingent liabilities [Line Items] | ||||||
Maximum aggregate accounts receivable sales negotiating facilities entered into with several banks | ₩ 1,289,400 | $ 1,000 | ||||
Short-term borrowings | 1,875,635 | ₩ 2,578,552 | ||||
Capital expenditures on property plant and equipment and intangible assets | 838,126 | |||||
KB Kookmin Bank [Member] | ||||||
Disclosure of contingent liabilities [Line Items] | ||||||
Payment guarantees obtained from banks for certain tax payments and settlement of litigation | 1,547,280 | 1,200 | ||||
KB Kookmin Bank [Member] | USD [member] | ||||||
Disclosure of contingent liabilities [Line Items] | ||||||
Payment guarantees obtained from banks for certain tax payments and settlement of litigation | 1,547,280 | 1,200 | ||||
Korea Development Bank and others [member] | Property, plant and equipment and others [member] | ||||||
Disclosure of contingent liabilities [Line Items] | ||||||
Carrying amount | 89,703 | |||||
Borrowing amount | 272,000 | |||||
Korea Development Bank and others [member] | Property, plant and equipment and others [member] | ||||||
Disclosure of contingent liabilities [Line Items] | ||||||
Carrying amount | 264,335 | |||||
Borrowing amount | 200,000 | |||||
Bank of China [member] | LG Display (China) Co., Ltd. and other subsidiaries [member] | CNY [member] | ||||||
Disclosure of contingent liabilities [Line Items] | ||||||
Payment guarantees obtained from banks for certain tax payments and settlement of litigation | 153,714 | ¥ 850 | ||||
Bank of China [member] | LG Display (China) Co., Ltd. and other subsidiaries [member] | JPY [member] | ||||||
Disclosure of contingent liabilities [Line Items] | ||||||
Payment guarantees obtained from banks for certain tax payments and settlement of litigation | 8,214 | ¥ 900 | ||||
Bank of China [member] | LG Display (China) Co., Ltd. and other subsidiaries [member] | USD [member] | ||||||
Disclosure of contingent liabilities [Line Items] | ||||||
Payment guarantees obtained from banks for certain tax payments and settlement of litigation | 689 | 0.5 | ||||
Bank of China [member] | LG Display (China) Co., Ltd. and other subsidiaries [member] | VND [member] | ||||||
Disclosure of contingent liabilities [Line Items] | ||||||
Payment guarantees obtained from banks for certain tax payments and settlement of litigation | 3,898 | ₫ 73,279 | ||||
Long-term supply agreement [member] | ||||||
Disclosure of contingent liabilities [Line Items] | ||||||
Advances Received For Long-Term Supply Agreement | ₩ 1,547,280 | $ 1,200 |
Contingent Liabilities and Co_4
Contingent Liabilities and Commitments - Maximum Amount of Accounts Receivables Sales and Amount of Sold Accounts Receivables before Maturity by Contract (Detail) - Dec. 31, 2023 ₩ in Millions, $ in Millions | USD ($) | KRW (₩) |
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | ₩ | ₩ 3,784,389 | |
Not yet due contractual amount of sold accounts receivables before maturity | ₩ | 1,665,874 | |
USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | $ | $ 2,935 | |
Not yet due contractual amount of sold accounts receivables before maturity | $ | 1,292 | |
Parent [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | ₩ | 328,797 | |
Not yet due contractual amount of sold accounts receivables before maturity | 10 | 12,841 |
Parent [member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | $ | 255 | |
Parent [member] | MUFG Bank [Member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 180 | 232,092 |
Not yet due contractual amount of sold accounts receivables before maturity | 3 | 3,815 |
Parent [member] | BNP Paribas [member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 15 | 19,341 |
Parent [member] | ING Bank [member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 40 | 51,576 |
Not yet due contractual amount of sold accounts receivables before maturity | 7 | 9,026 |
Parent [member] | Sumitomo Mitsui Banking Corporation [member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 20 | 25,788 |
Consolidated subsidiaries [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 2,680 | 3,455,592 |
Not yet due contractual amount of sold accounts receivables before maturity | 1,282 | 1,653,033 |
Consolidated subsidiaries [member] | LG Display Singapore Pte. Ltd. [member] | ING Bank [member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 50 | 64,470 |
Consolidated subsidiaries [member] | LG Display Singapore Pte. Ltd. [member] | Standard Chartered Bank [member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 100 | 128,940 |
Consolidated subsidiaries [member] | LG Display Singapore Pte. Ltd. [member] | Credit Agricole Corporate & Investment Bank, Singapore Branch [Member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 300 | 386,820 |
Consolidated subsidiaries [member] | LG Display Singapore Pte. Ltd. [member] | United Overseas Bank Limited [Member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 150 | 193,410 |
Not yet due contractual amount of sold accounts receivables before maturity | 50 | 64,478 |
Consolidated subsidiaries [member] | LG Display Singapore Pte. Ltd. [member] | JPMorgan Chase Bank, N.A., Singapore Branch [member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 50 | 64,470 |
Consolidated subsidiaries [member] | LG Display Taiwan Co., Ltd. [member] | BNP Paribas [member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 15 | 19,341 |
Consolidated subsidiaries [member] | LG Display Taiwan Co., Ltd. [member] | Austrailia and New Zealand Banking Group Ltd [member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 160 | 206,304 |
Not yet due contractual amount of sold accounts receivables before maturity | 39 | 50,159 |
Consolidated subsidiaries [member] | LG Display Germany GmbH [member] | BNP Paribas [member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 135 | 174,069 |
Not yet due contractual amount of sold accounts receivables before maturity | 55 | 70,906 |
Consolidated subsidiaries [member] | LG Display America, Inc. [member] | ING Bank [member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 150 | 193,410 |
Not yet due contractual amount of sold accounts receivables before maturity | 30 | 38,735 |
Consolidated subsidiaries [member] | LG Display America, Inc. [member] | Standard Chartered Bank [member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 1,000 | 1,289,400 |
Not yet due contractual amount of sold accounts receivables before maturity | 868 | 1,119,287 |
Consolidated subsidiaries [member] | LG Display America, Inc. [member] | Hong Kong & Shanghai Banking Corp. [member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 400 | 515,760 |
Not yet due contractual amount of sold accounts receivables before maturity | 200 | 257,881 |
Consolidated subsidiaries [member] | LG Display Japan Co., Ltd. [member] | Standard Chartered Bank [member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 120 | 154,728 |
Not yet due contractual amount of sold accounts receivables before maturity | 20 | 25,790 |
Consolidated subsidiaries [member] | LG Display Japan Co., Ltd. [member] | Chelsea Capital Corporation [Member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 20 | 25,788 |
Consolidated subsidiaries [member] | LG Display Guangzhou Trading Co., Ltd. [member] | KEB Hana Bank (China) Company Limited [member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 30 | 38,682 |
Not yet due contractual amount of sold accounts receivables before maturity | $ 20 | ₩ 25,797 |
Contingent Liabilities and Co_5
Contingent Liabilities and Commitments - Letters of Credit from Financial Institutions and Respective Credit Limits (Detail) - Dec. 31, 2023 - USD [member] ₩ in Millions, $ in Millions | USD ($) | KRW (₩) |
Disclosure of detailed information about borrowings [line items] | ||
Letters of credit and credit limits | $ 2,070 | ₩ 2,669,058 |
KEB Hana Bank [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Letters of credit and credit limits | 450 | 580,230 |
Industrial Bank of Korea [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Letters of credit and credit limits | 450 | 580,230 |
Industrial And Commerical Bank Of China [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Letters of credit and credit limits | 200 | 257,880 |
Shinhan bank [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Letters of credit and credit limits | 70 | 90,258 |
KB Kookmin Bank [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Letters of credit and credit limits | 700 | 902,580 |
MUFG Bank [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Letters of credit and credit limits | 100 | 128,940 |
Export Import Bank Of Korea [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Letters of credit and credit limits | $ 100 | ₩ 128,940 |
Contingent Liabilities and Co_6
Contingent Liabilities and Commitments - Summary of Pledged Assets (Detail) - Dec. 31, 2023 ₩ in Millions, ¥ in Millions, $ in Millions | KRW (₩) | CNY (¥) | USD ($) |
LG Electronics Inc. [member] | Property, plant and equipment and others [member] | |||
Disclosure of contingent liabilities [line items] | |||
Carrying amount | ₩ 507,234 | ||
Maximum bond amount | 1,200,000 | ||
Borrowing amount | 1,000,000 | ||
Korea development bank and others [member] | Property, plant and equipment and others [member] | |||
Disclosure of contingent liabilities [line items] | |||
Carrying amount | 89,703 | ||
Maximum bond amount | 326,400 | ||
Borrowing amount | 272,000 | ||
Korea Development Bank and others [member] | Property, plant and equipment and others [member] | |||
Disclosure of contingent liabilities [line items] | |||
Carrying amount | 264,335 | ||
Maximum bond amount | 780,000 | ||
Borrowing amount | 200,000 | ||
China Construction Bank Corporation and others [member] | Property, plant and equipment and others [member] | |||
Disclosure of contingent liabilities [line items] | |||
Carrying amount | 711,885 | ||
Borrowing amount | ¥ | ¥ 9,330 | ||
Shinhan Bank and others [member] | |||
Disclosure of contingent liabilities [line items] | |||
Borrowing amount | 450,000 | ||
Shinhan Bank and others [member] | Deposits in banks and others [member] | |||
Disclosure of contingent liabilities [line items] | |||
Carrying amount | ¥ | ¥ 5,825 | ||
Maximum bond amount | ₩ 1,053,338 | ||
Borrowing amount | $ | $ 400 |
Share Capital, Share Premium _3
Share Capital, Share Premium and Reserves - Additional Information (Detail) - ₩ / shares | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of reserves within equity [abstract] | ||
Number of shares authorized | 500,000,000 | 500,000,000 |
Par value per share | ₩ 5,000 | ₩ 5,000 |
Number of issued common shares | 357,815,700 | 357,815,700 |
Share Capital, Share Premium _4
Share Capital, Share Premium and Reserves - Summary of Reserves at Reporting Date (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of reserves within equity [abstract] | ||||
Foreign currency translation differences for foreign operations | ₩ 548,792 | ₩ 509,620 | ||
Other comprehensive loss from associates | (32,816) | (29,992) | ||
Reserves | ₩ 515,976 | ₩ 479,628 | ₩ 537,142 | ₩ (163,446) |
Share Capital, Share Premium _5
Share Capital, Share Premium and Reserves - Movement in Reserves (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of reserves within equity [Line Items] | |||
Beginning balance | ₩ 479,628 | ₩ 537,142 | ₩ (163,446) |
Change in reserves | 36,348 | (57,514) | 700,588 |
Ending balance | 515,976 | 479,628 | 537,142 |
Loss on valuation of derivatives [member] | |||
Disclosure of reserves within equity [Line Items] | |||
Beginning balance | (9,227) | ||
Change in reserves | 9,227 | (9,227) | |
Ending balance | (9,227) | ||
Foreign currency translation differences for foreign operations [member] | |||
Disclosure of reserves within equity [Line Items] | |||
Beginning balance | 509,620 | 566,651 | (138,667) |
Change in reserves | 39,172 | (57,031) | 705,318 |
Ending balance | 548,792 | 509,620 | 566,651 |
Amount recognized in other comprehensive income loss from associates excluding remeasurements [member] | |||
Disclosure of reserves within equity [Line Items] | |||
Beginning balance | (29,992) | (20,282) | (24,779) |
Change in reserves | (2,824) | (9,710) | 4,497 |
Ending balance | ₩ (32,816) | ₩ (29,992) | ₩ (20,282) |
Geographic and Other Informat_3
Geographic and Other Information - Revenue and Non-current Assets by Geography (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Disclosure of geographical areas [Line Items] | ||||
Revenue | ₩ 21,330,819 | ₩ 26,151,781 | ₩ 29,878,043 | |
Revenue included in forward exchange hedging loss | 21,330,819 | 26,364,737 | [1],[2] | 29,878,043 |
Property, plant and equipment | 20,200,332 | 20,946,933 | 20,558,446 | |
Intangible assets | 1,773,955 | 1,752,957 | 1,644,898 | |
Investment property | 32,995 | 28,269 | ||
Domestic [member] | ||||
Disclosure of geographical areas [Line Items] | ||||
Revenue | 633,529 | 678,246 | [1] | 632,531 |
Property, plant and equipment | 13,583,136 | 14,042,794 | ||
Intangible assets | 1,683,116 | 1,633,866 | ||
Investment property | 32,995 | 28,269 | ||
China [member] | ||||
Disclosure of geographical areas [Line Items] | ||||
Revenue | 14,704,357 | 17,434,407 | [1] | 19,866,707 |
Property, plant and equipment | 3,358,395 | 4,302,527 | ||
Intangible assets | 32,009 | 53,388 | ||
Vietnam [member] | ||||
Disclosure of geographical areas [Line Items] | ||||
Property, plant and equipment | 3,244,729 | 2,590,438 | ||
Intangible assets | 31,472 | 20,315 | ||
Other countries [member] | ||||
Disclosure of geographical areas [Line Items] | ||||
Property, plant and equipment | 14,072 | 11,174 | ||
Intangible assets | 27,358 | 45,388 | ||
Foreign countries [member] | ||||
Disclosure of geographical areas [Line Items] | ||||
Revenue | 20,697,290 | 25,686,491 | [1] | 29,245,512 |
Property, plant and equipment | 6,617,196 | 6,904,139 | ||
Intangible assets | 90,839 | 119,091 | ||
Asia (excluding China) [member] | ||||
Disclosure of geographical areas [Line Items] | ||||
Revenue | 2,397,980 | 2,796,648 | [1] | 3,256,126 |
Americas [member] | ||||
Disclosure of geographical areas [Line Items] | ||||
Revenue | 2,079,628 | 3,078,924 | [1] | 3,263,055 |
Europe (excluding Poland) [member] | ||||
Disclosure of geographical areas [Line Items] | ||||
Revenue | 613,924 | 988,566 | [1] | 1,159,669 |
Poland [member] | ||||
Disclosure of geographical areas [Line Items] | ||||
Revenue | ₩ 901,401 | ₩ 1,387,946 | [1] | ₩ 1,699,955 |
[1] Revenue for 2022 excludes W 212,956 million of forward exchange hedging loss which was reclassified from accumulated other comprehensive income to revenue when the sales from the hedged forecast transactions are recognized. Revenue for 2022 excludes W 212,956 million of forward exchange hedging loss which was reclassified from accumulated other comprehensive income to revenue when the sales from the hedged forecast transactions are recognized. |
Geographic and Other Informat_4
Geographic and Other Information - Revenue and Non-current Assets by Geography (Parenthetical) (Details) ₩ in Millions | 12 Months Ended |
Dec. 31, 2022 KRW (₩) | |
Disclosure of geographical areas [abstract] | |
Forward exchange hedging loss | ₩ 212,956 |
Geographic and Other Informat_5
Geographic and Other Information - Additional Information (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of geographical areas [Line Items] | |||
Sales revenue | ₩ 21,330,819 | ₩ 26,151,781 | ₩ 29,878,043 |
OLED Products [member] | |||
Disclosure of geographical areas [Line Items] | |||
Percentage of revenue from products | 48% | 40% | 36% |
Company A [member] | |||
Disclosure of geographical areas [Line Items] | |||
Sales revenue | ₩ 11,119,769 | ₩ 11,731,702 | ₩ 12,019,534 |
Company B [member] | |||
Disclosure of geographical areas [Line Items] | |||
Sales revenue | ₩ 3,371,229 | ₩ 4,699,282 | ₩ 5,924,262 |
Top 10 Companies [member] | |||
Disclosure of geographical areas [Line Items] | |||
Percentage of sales revenue | 87% | 86% | 86% |
Geographic and Other Informat_6
Geographic and Other Information - Revenue by Product and Services (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Disclosure of products and services [Line Items] | ||||
Revenue | ₩ 21,330,819 | ₩ 26,151,781 | ₩ 29,878,043 | |
Revenue included in forward exchange hedging loss | 21,330,819 | 26,364,737 | [1],[2] | 29,878,043 |
TV [member] | ||||
Disclosure of products and services [Line Items] | ||||
Revenue | 4,331,474 | 6,975,269 | [2] | 9,466,192 |
IT [Member] | ||||
Disclosure of products and services [Line Items] | ||||
Revenue | 7,853,034 | 11,197,954 | [2] | 12,458,740 |
Mobile and others [member] | ||||
Disclosure of products and services [Line Items] | ||||
Revenue | ₩ 9,146,311 | ₩ 8,191,514 | [2] | ₩ 7,953,111 |
[1] Revenue for 2022 excludes W 212,956 million of forward exchange hedging loss which was reclassified from accumulated other comprehensive income to revenue when the sales from the hedged forecast transactions are recognized. Revenue for 2022 excludes W 212,956 million of forward exchange hedging loss which was reclassified from accumulated other comprehensive income to revenue when the sales from the hedged forecast transactions are recognized. |
Geographic and Other Informat_7
Geographic and Other Information - Revenue by Product and Services (Parenthetical) (Details) ₩ in Millions | 12 Months Ended |
Dec. 31, 2022 KRW (₩) | |
Disclosure of geographical areas [abstract] | |
Forward exchange hedging loss | ₩ 212,956 |
The Nature of Expenses and Ot_3
The Nature of Expenses and Others - Classification of Expenses by Nature (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Expenses by nature [abstract] | |||
Changes in inventories | ₩ 345,190 | ₩ 477,457 | ₩ (1,179,232) |
Purchases of raw materials, merchandise and others | 10,810,985 | 13,521,132 | 15,207,659 |
Depreciation and amortization | 4,213,742 | 4,557,457 | 4,500,701 |
Outsourcing | 922,565 | 1,096,681 | 776,755 |
Labor | 3,439,608 | 3,669,275 | 3,795,943 |
Supplies and others | 938,568 | 1,212,142 | 1,235,473 |
Utility | 1,193,025 | 1,189,105 | 1,029,953 |
Fees and commissions | 704,763 | 834,449 | 789,885 |
Shipping | 124,770 | 276,253 | 345,204 |
Advertising | 76,404 | 108,315 | 126,335 |
Warranty | 101,846 | 251,395 | 216,873 |
Travel | 66,201 | 66,428 | 59,519 |
Taxes and dues | 129,784 | 144,038 | 141,131 |
Others | 1,043,238 | 2,322,067 | 720,467 |
Expenses by nature | ₩ 24,110,689 | ₩ 29,726,194 | ₩ 27,766,666 |
Selling and Administrative Ex_3
Selling and Administrative Expenses - Details of Selling and Administrative Expenses (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Statement of comprehensive income [Line Items] | |||
Others | ₩ 1,043,238 | ₩ 2,322,067 | ₩ 720,467 |
Selling general and administrative expenses [member] | |||
Statement of comprehensive income [Line Items] | |||
Salaries | 372,966 | 354,709 | 387,414 |
Expenses related to defined benefit plans | 24,822 | 26,872 | 22,859 |
Other employee benefits | 86,692 | 91,396 | 86,757 |
Shipping | 91,960 | 213,613 | 298,684 |
Fees and commissions | 253,495 | 272,337 | 248,478 |
Depreciation | 264,982 | 263,739 | 267,042 |
Taxes and dues | 65,528 | 69,851 | 74,542 |
Advertising | 76,404 | 108,315 | 126,335 |
Warranty | 101,846 | 251,395 | 216,873 |
Insurance | 13,610 | 15,100 | 16,654 |
Travel | 18,421 | 17,912 | 6,935 |
Training | 9,775 | 15,458 | 15,556 |
Others | 95,186 | 126,022 | 84,323 |
Selling, general and administrative expenses | ₩ 1,475,687 | ₩ 1,826,719 | ₩ 1,852,452 |
Personnel Expenses - Disclosure
Personnel Expenses - Disclosure of Details of Personnel Expenses (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Statement of comprehensive income [Line Items] | |||
Personnel expenses | ₩ 3,704,380 | ₩ 3,874,664 | ₩ 3,942,097 |
Personnel expenses [member] | |||
Statement of comprehensive income [Line Items] | |||
Salaries and wages | 2,850,927 | 2,975,325 | 3,138,798 |
Other employee benefits | 613,072 | 652,915 | 589,598 |
Contributions to National Pension plan | 81,625 | 77,062 | 68,962 |
Expenses related to defined benefit plans and defined contribution plans | ₩ 158,756 | ₩ 169,362 | ₩ 144,739 |
Other Income and Other Expens_3
Other Income and Other Expenses - Summary of Other Income (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Analysis of income and expense [abstract] | |||
Foreign currency gain | ₩ 1,398,181 | ₩ 3,098,553 | ₩ 1,210,689 |
Gain on disposal of property, plant and equipment | 34,961 | 25,737 | 19,367 |
Gain on disposal of intangible assets | 1,989 | 196 | |
Reversal of impairment loss on property, plant and equipment | 7 | 3,181 | 1,121 |
Reversal of impairment loss on intangible assets | 242 | 1,975 | 1,152 |
Rental income | 2,271 | 2,806 | 1,978 |
Others | 34,607 | 53,585 | 17,632 |
Other income | ₩ 1,472,258 | ₩ 3,185,837 | ₩ 1,252,135 |
Other Income and Other Expens_4
Other Income and Other Expenses - Summary of Other Expenses (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Analysis of income and expense [abstract] | |||
Foreign currency loss | ₩ 1,516,528 | ₩ 2,957,048 | ₩ 1,161,628 |
Loss on disposal of property, plant and equipment | 102,453 | 54,432 | 64,350 |
Impairment loss on property, plant and equipment | 60,072 | 1,260,436 | 19,085 |
Loss on disposal of intangible assets | 55 | 193 | |
Impairment loss on intangible assets | 54,833 | 136,372 | 29,488 |
Impairment loss on investments | 7,736 | ||
Others | 52,293 | 30,197 | 6,308 |
Other expenses | ₩ 1,786,234 | ₩ 4,446,414 | ₩ 1,280,859 |
Finance Income and Finance Co_3
Finance Income and Finance Costs - Summary of Finance Income and Finance Costs recognized in Profit or Loss (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Finance income | |||
Interest income | ₩ 134,664 | ₩ 85,624 | ₩ 88,888 |
Foreign currency gain | 560,633 | 308,665 | 81,600 |
Gain on disposal of investments in equity accounted investees | 2,994 | 2,993 | |
Reversal of impairment loss on investments in equity accounted investees | 613 | 4,701 | |
Gain on transaction of derivatives | 178,610 | 49,503 | 9,393 |
Gain on valuation of derivatives | 239,973 | 193,570 | 234,742 |
Gain on disposal of financial assets at fair value through profit or loss | 132 | 173 | |
Gain on valuation of financial assets at fair value through profit or loss | 5,288 | 11,678 | 6,511 |
Gain on valuation of financial liabilities at fair value through profit or loss | 220,240 | ||
Finance income | 1,122,294 | 873,059 | 425,835 |
Finance costs | |||
Interest expense | 723,429 | 414,521 | 434,089 |
Foreign currency loss | 512,456 | 440,604 | 381,132 |
Loss on disposal of investments in equity accounted investees | 37 | 80 | |
Impairment loss on investments in equity accounted investees | 6,808 | 2,609 | |
Loss on repayment of borrowings and bonds | 167 | 2,672 | 250 |
Loss on sale of trade accounts and notes receivable | 48,600 | 37,087 | 4,877 |
Loss on transaction of derivatives | 359 | 1,049 | |
Loss on valuation of derivatives | 316,467 | 65,585 | 21,795 |
Loss on valuation of financial assets at fair value through profit or loss | 18,562 | 5,205 | 704 |
Loss on valuation of financial liabilities at fair value through profit or loss | 68,421 | ||
Others | 8,008 | 250 | 1,688 |
Finance costs | ₩ 1,634,534 | ₩ 966,363 | ₩ 916,614 |
Income Tax Expense (Benefit) -
Income Tax Expense (Benefit) - Details of Income Tax Expense (Benefit) Recognized in Profit (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Current tax expense (benefit) | |||
Current year | ₩ 260,556 | ₩ 206,465 | ₩ 199,591 |
Adjustment for prior years | (67,985) | (59,484) | 163,570 |
Current tax expense (benefit) | 192,571 | 146,981 | 363,161 |
Deferred tax expense (benefit) | |||
Origination and reversal of temporary differences and others | (1,112,066) | (842,529) | 60,233 |
Change in unrecognized deferred tax assets | 156,783 | 457,763 | (38,053) |
Deferred tax expense (benefit) | (955,283) | (384,766) | 22,180 |
Income tax expense (benefit) | ₩ (762,712) | ₩ (237,785) | ₩ 385,341 |
Income Tax Expense (Benefit) _2
Income Tax Expense (Benefit) - Income Taxes Recognized Directly in Other Comprehensive Income (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Income tax relating to components of other comprehensive income [abstract] | |||
Remeasurements of net defined benefit liabilities (assets), before tax | ₩ 64,635 | ₩ 165,864 | ₩ (220,801) |
Gain (loss) on valuation of derivatives, before tax | 12,495 | (12,495) | |
Foreign currency translation differences for foreign operations, before tax | 43,572 | (80,718) | 871,292 |
Change in equity of equity method investee, before tax | (2,679) | (11,603) | 6,364 |
Other comprehensive income, before tax | 105,528 | 86,038 | 644,360 |
Related income tax | (14,818) | (43,503) | 57,438 |
Gain (loss) on valuation of derivatives, Tax benefit (expense) | (3,268) | 3,268 | |
Foreign currency translation differences for foreign operations, tax benefit (expense) | (20,429) | (245) | (1,503) |
Change in equity of equity method investee, tax benefit (expense) | 25 | 1,925 | (1,951) |
Other comprehensive income, tax benefit (expense) | (35,222) | (45,091) | 57,252 |
Remeasurements of net defined benefit liabilities (assets), net of tax | 49,817 | 122,361 | (163,363) |
Gain (loss) on valuation of derivatives, Net of Tax | 9,227 | (9,227) | |
Foreign currency translation differences for foreign operations, net of tax | 23,143 | (80,963) | 869,789 |
Change in equity of equity method investee, net of tax | (2,654) | (9,678) | 4,413 |
Other comprehensive income for the year, net of income tax | ₩ 70,306 | ₩ 40,947 | ₩ 701,612 |
Income Tax Expense (Benefit) _3
Income Tax Expense (Benefit) - Reconciliation of Actual Effective Tax Rate (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Income tax relating to components of other comprehensive income [abstract] | |||
Profit (loss) for the year | ₩ (2,576,729) | ₩ (3,195,585) | ₩ 1,333,544 |
Income tax expense (benefit) | ₩ (762,712) | ₩ (237,785) | ₩ 385,341 |
Income tax expense (benefit) using the statutory tax rate of each country | 23.65% | 21.51% | 30.37% |
Non-deductible expenses, percentage | (0.59%) | (0.55%) | 1.01% |
Tax credits, percentage | 6.22% | 4.23% | (3.28%) |
Change in unrecognized deferred tax assets | (4.69%) | (13.33%) | (2.21%) |
Adjustment for prior years | 0.32% | 0.06% | (0.49%) |
Effect on change in tax rate, percentage | (1.80%) | (4.90%) | (2.29%) |
Others, percentage | (0.27%) | (0.09%) | (0.69%) |
Profit(loss) before income tax | ₩ (3,339,441) | ₩ (3,433,370) | ₩ 1,718,885 |
Income tax expense (benefit) using the statutory tax rate of each country | (789,941) | (738,403) | 521,954 |
Non-deductible expenses, amount | 19,759 | 18,742 | 17,354 |
Tax credits, amount | (207,745) | (145,189) | (56,439) |
Change in unrecognized deferred tax assets, amount | 156,783 | 457,763 | (38,053) |
Adjustment for prior years | (10,726) | (2,072) | (8,349) |
Effect on change in tax rate | 60,134 | 168,372 | (39,338) |
Others | 9,024 | 3,002 | (11,788) |
Income tax expense (benefit) | ₩ (762,712) | ₩ (237,785) | ₩ 385,341 |
Effective tax rate | 22.42% |
Income Tax Expense (Benefit) _4
Income Tax Expense (Benefit) - Additional Information (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Revenue | ₩ 21,330,819 | ₩ 26,151,781 | ₩ 29,878,043 |
Deferred Tax Assets and Liabi_3
Deferred Tax Assets and Liabilities - Additional Information (Detail) ₩ in Millions | Dec. 31, 2023 KRW (₩) |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |
Temporary differences on investments in subsidiaries the Controlling Company did not recognize deferred tax liabilities | ₩ 523,448 |
Deferred Tax Assets and Liabi_4
Deferred Tax Assets and Liabilities - Tax Credit Carryforwards Expiration Dates (Detail) - Tax credit carryforwards [member] ₩ in Millions | Dec. 31, 2023 KRW (₩) |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |
Tax credit carryforwards | ₩ 869,364 |
December 31, 2025 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |
Tax credit carryforwards | 7,302 |
December 31, 2026 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |
Tax credit carryforwards | 18,476 |
December 31, 2027 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |
Tax credit carryforwards | 114,435 |
December 31, 2028 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |
Tax credit carryforwards | 90,124 |
December 31, 2029 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |
Tax credit carryforwards | 99,937 |
December 31, 2030 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |
Tax credit carryforwards | 60,401 |
December 31, 2031 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |
Tax credit carryforwards | 79,543 |
December 31, 2032 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |
Tax credit carryforwards | 159,552 |
December 31, 2033 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |
Tax credit carryforwards | ₩ 239,594 |
Deferred Tax Assets and Liabi_5
Deferred Tax Assets and Liabilities - Details of Deferred Tax Assets and Liabilities (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Assets | ₩ 3,562,861 | ₩ 2,645,077 | |
Liabilities | (2,069) | (4,346) | |
Gross carrying amount [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Assets | 3,797,057 | 3,038,848 | |
Liabilities | (236,265) | (398,117) | |
Total | 3,560,792 | 2,640,731 | ₩ 2,301,056 |
Gross carrying amount [member] | Other accounts receivable, net [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Liabilities | (61) | (2,009) | |
Total | (61) | (2,009) | (17) |
Gross carrying amount [member] | Inventories, net [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Assets | 51,728 | 62,014 | |
Total | 51,728 | 62,014 | 68,679 |
Gross carrying amount [member] | Defined benefit liabilities, net [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Liabilities | (89,753) | (95,850) | |
Total | (89,753) | (95,850) | (26,642) |
Gross carrying amount [member] | Investments in subsidiaries and associates [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Liabilities | (89,649) | (252,375) | |
Total | (89,649) | (252,375) | |
Gross carrying amount [member] | Accrued expenses [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Assets | 97,867 | 111,293 | |
Total | 97,867 | 111,293 | 250,582 |
Gross carrying amount [member] | Property, plant and equipment [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Assets | 609,345 | 704,117 | |
Liabilities | (43,282) | (17,322) | |
Total | 566,063 | 686,795 | 603,492 |
Gross carrying amount [member] | Intangible assets [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Assets | 13,314 | 25,340 | |
Liabilities | (2,069) | (4,042) | |
Total | 11,245 | 21,298 | 10,814 |
Gross carrying amount [member] | Provisions [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Assets | 39,586 | 57,210 | |
Total | 39,586 | 57,210 | 68,893 |
Gross carrying amount [member] | Other temporary differences [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Assets | 70,182 | 112,771 | |
Liabilities | (11,451) | (26,519) | |
Total | 58,731 | 86,252 | 110,678 |
Gross carrying amount [member] | Tax loss carryforwards [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Assets | 2,766,820 | 1,795,132 | |
Total | 2,766,820 | 1,795,132 | 958,624 |
Gross carrying amount [member] | Tax credit carryforwards [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Assets | 148,215 | 170,971 | |
Total | ₩ 148,215 | ₩ 170,971 | ₩ 489,505 |
Deferred Tax Assets and Liabi_6
Deferred Tax Assets and Liabilities - Changes in Deferred Tax Assets and Liabilities (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Other comprehensive Income (loss) | ₩ (35,222) | ₩ (45,091) | ₩ 57,252 |
Gross carrying amount [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Beginning balance | 2,640,731 | 2,301,056 | |
Profit or loss | 955,283 | 384,766 | |
Other comprehensive Income (loss) | (35,222) | (45,091) | |
Ending balance | 3,560,792 | 2,640,731 | 2,301,056 |
Gross carrying amount [member] | Other accounts receivable, net [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Beginning balance | (2,009) | (17) | |
Profit or loss | 1,948 | (1,992) | |
Ending balance | (61) | (2,009) | (17) |
Gross carrying amount [member] | Inventories, net [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Beginning balance | 62,014 | 68,679 | |
Profit or loss | (10,286) | (6,665) | |
Ending balance | 51,728 | 62,014 | 68,679 |
Gross carrying amount [member] | Defined benefit liabilities, net [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Beginning balance | (95,850) | (26,642) | |
Profit or loss | 20,915 | (25,705) | |
Other comprehensive Income (loss) | (14,818) | (43,503) | |
Ending balance | (89,753) | (95,850) | (26,642) |
Gross carrying amount [member] | Subsidiaries and associates [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Beginning balance | (252,375) | (233,552) | |
Profit or loss | 183,130 | (20,503) | |
Other comprehensive Income (loss) | (20,404) | 1,680 | |
Ending balance | (89,649) | (252,375) | (233,552) |
Gross carrying amount [member] | Accrued expenses [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Beginning balance | 111,293 | 250,582 | |
Profit or loss | (13,426) | (139,289) | |
Ending balance | 97,867 | 111,293 | 250,582 |
Gross carrying amount [member] | Property, plant and equipment [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Beginning balance | 686,795 | 603,492 | |
Profit or loss | (120,732) | 83,303 | |
Ending balance | 566,063 | 686,795 | 603,492 |
Gross carrying amount [member] | Intangible assets [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Beginning balance | 21,298 | 10,814 | |
Profit or loss | (10,053) | 10,484 | |
Ending balance | 11,245 | 21,298 | 10,814 |
Gross carrying amount [member] | Provisions [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Beginning balance | 57,210 | 68,893 | |
Profit or loss | (17,624) | (11,683) | |
Ending balance | 39,586 | 57,210 | 68,893 |
Gross carrying amount [member] | Other temporary differences [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Beginning balance | 86,252 | 110,678 | |
Profit or loss | (27,521) | (21,158) | |
Other comprehensive Income (loss) | (3,268) | ||
Ending balance | 58,731 | 86,252 | 110,678 |
Gross carrying amount [member] | Tax loss carryforwards [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Beginning balance | 1,795,132 | 958,624 | |
Profit or loss | 971,688 | 836,508 | |
Ending balance | 2,766,820 | 1,795,132 | 958,624 |
Gross carrying amount [member] | Tax credit carryforwards [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Beginning balance | 170,971 | 489,505 | |
Profit or loss | (22,756) | (318,534) | |
Ending balance | ₩ 148,215 | ₩ 170,971 | ₩ 489,505 |
Earnings (Loss) per Share Att_3
Earnings (Loss) per Share Attributable to Owners of the Controlling Company - Summary of Basic Earnings per Share (Detail) - KRW (₩) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Basic earnings per share [abstract] | |||
Profit (loss) attributable to owners of the Controlling Company for the year | ₩ (2,733,741,837,803) | ₩ (3,071,564,667,651) | ₩ 1,186,182,126,952 |
Weighted-average number of common stocks outstanding | 357,815,700 | 357,815,700 | 357,815,700 |
Basic loss per share | ₩ (7,640) | ₩ (8,584) | ₩ 3,315 |
Earnings (Loss) per Share Att_4
Earnings (Loss) per Share Attributable to Owners of the Controlling Company - Summary of Diluted Earnings Per Share Explanatory (Details) - KRW (₩) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Diluted earnings per share [abstract] | |||
Profit Attributable To Owners Of Controlling Company | ₩ (2,733,741,837,803) | ₩ (3,071,564,667,651) | ₩ 1,186,182,126,952 |
Adjustments: Interest expenses of convertible bond, net of income tax | 11,382,390,353 | ||
Loss on fair value valuation of convertible bond, net of income tax | 50,521,798,972 | ||
Diluted profit attributable to owners of the Controlling Company | ₩ 1,248,086,316,277 | ||
Weighted-average number of common stocks outstanding, after adjustment | 398,804,698 | ||
Diluted earnings per share | ₩ 3,130 |
Earnings (Loss) per Share Att_5
Earnings (Loss) per Share Attributable to Owners of the Controlling Company - Summary of Weighted Average Number of Common Stocks Outstanding after Adjustment Explanatory (Details) - shares | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Weighted average ordinary shares used in calculating basic and diluted earnings per share [abstract] | |||
Weighted-average number of common stocks outstanding | 357,815,700 | 357,815,700 | 357,815,700 |
Adjustment : Number of common stocks to be issued from conversion | 40,988,998 | ||
Weighted-average number of common stocks outstanding, after adjustment | 398,804,698 |
Earnings (Loss) per Share Att_6
Earnings (Loss) per Share Attributable to Owners of the Controlling Company - Additional Information (Details) - KRW (₩) ₩ / shares in Units, ₩ in Millions | Mar. 14, 2024 | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of non-adjusting events after reporting period [line items] | |||
Number of issued shares of common stock | 357,815,700 | 357,815,700 | |
Issuance price per share | ₩ 5,000 | ₩ 5,000 | |
New shares of common stock [member] | |||
Disclosure of non-adjusting events after reporting period [line items] | |||
Number of issued shares of common stock | 142,184,300 | ||
Total issuance amount | ₩ 1,292,455 | ||
Issuance price per share | ₩ 9,090 |
Financial Risk Management - Exp
Financial Risk Management - Exposure to Foreign Currency Risk Based on Notional Amounts (Detail) € in Millions, ₫ in Millions, ₩ in Millions, ¥ in Millions, ¥ in Millions, zł in Millions, $ in Millions, $ in Millions | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2023 KRW (₩) | Dec. 31, 2023 EUR (€) | Dec. 31, 2022 KRW (₩) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2023 USD ($) | Dec. 31, 2023 JPY (¥) | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 TWD ($) | Dec. 31, 2023 EUR (€) | Dec. 31, 2023 PLN (zł) | Dec. 31, 2023 VND (₫) | Dec. 31, 2022 USD ($) | Dec. 31, 2022 JPY (¥) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 TWD ($) | Dec. 31, 2022 EUR (€) | Dec. 31, 2022 PLN (zł) | Dec. 31, 2022 VND (₫) | Dec. 31, 2020 KRW (₩) | |
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||||||||||||||||||
Cash and cash equivalents | ₩ 2,257,522 | ₩ 1,824,649 | ₩ 3,541,597 | ₩ 4,218,099 | |||||||||||||||
Deposits in banks | 905,982 | 1,722,618 | |||||||||||||||||
Trade accounts and notes receivable | 3,218,093 | 2,358,914 | |||||||||||||||||
Trade accounts and notes receivable | (1,013,938) | 1,833,491 | (964,130) | ||||||||||||||||
Trade accounts and notes payable | (1,092,180) | (935,739) | (1,074,089) | ||||||||||||||||
Trade accounts and notes payable | 323,548 | (282,082) | ₩ 1,037,950 | ||||||||||||||||
Other accounts payable | (2,918,903) | (3,242,929) | |||||||||||||||||
Financial liabilities | 25,766,147 | ₩ 24,359,595 | |||||||||||||||||
Advances received | ₩ (967,050) | ||||||||||||||||||
Currency risk [member] | |||||||||||||||||||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||||||||||||||||||
Cash and cash equivalents | $ 1,074 | ¥ 654 | ¥ 1,695 | $ 38 | € 2 | zł 1 | ₫ 226,342 | $ 1,040 | ¥ 228 | ¥ 1,984 | $ 25 | € 1 | zł 1 | ₫ 151,912 | |||||
Deposits in banks | 7,411 | 69 | 8,888 | ||||||||||||||||
Trade accounts and notes receivable | 2,442 | 430 | 1,725 | 103 | 703 | ||||||||||||||
Trade accounts and notes receivable | € | € (2) | ||||||||||||||||||
Other accounts receivables | 6 | 186 | 294 | 20 | 13,969 | 26 | 114 | 253 | 10 | 21 | 15,800 | ||||||||
Other assets denominated in foreign currencies | 23 | 188 | 34 | 7 | 13,146 | 30 | 191 | 82 | 7 | 11,353 | |||||||||
Trade accounts and notes payable | (1,721) | (9,837) | (1,765) | (740,674) | (1,824) | (4,987) | (1,306) | (478,926) | |||||||||||
Trade accounts and notes payable | € | € 2 | ||||||||||||||||||
Other accounts payable | (545) | (14,589) | (2,151) | (6) | (5) | (1,309,118) | (565) | (19,084) | (1,711) | (8) | (10) | (2,681,508) | |||||||
Financial liabilities | (4,068) | (25,336) | (4,846) | (20,569) | |||||||||||||||
Advances received | $ | (1,200) | ||||||||||||||||||
Aggregate notional amounts in the consolidated statements of financial position | (3,989) | (23,398) | (19,388) | 59 | (3) | 1 | (1,796,335) | (4,345) | (23,435) | (11,676) | 34 | 12 | 1 | (2,981,369) | |||||
Cross currency interest rate swap contracts | 1,930 | 345 | 2,430 | ||||||||||||||||
Forward exchange contracts | $ | 1,200 | ||||||||||||||||||
Net exposure | $ (859) | ¥ (23,398) | ¥ (19,043) | $ 59 | € (3) | zł 1 | ₫ (1,796,335) | $ (1,915) | ¥ (23,435) | ¥ (11,676) | $ 34 | € 12 | zł 1 | ₫ (2,981,369) |
Financial Risk Management - E_2
Financial Risk Management - Exposure to Foreign Currency Risk Based on Notional Amounts (Parenthetical) (Detail) ¥ in Millions, $ in Millions | Dec. 31, 2023 USD ($) | Dec. 31, 2023 CNY (¥) | Dec. 31, 2022 USD ($) |
Hedge Currency Risk [Member] | |||
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
Cross currency interest rate swap contracts | $ 500 | ¥ 345 | $ 700 |
Hedge Currency and Interest Rate Risk [Member] | |||
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
Cross currency interest rate swap contracts | $ 1,430 | $ 1,730 |
Financial Risk Management - Ave
Financial Risk Management - Average Exchange Rates Applied during Reporting Periods (Detail) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
USD [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Average rate | 1,306.12 | 1,291.15 | 1,144.1 |
Reporting date spot rate | 1,289.4 | 1,267.3 | |
JPY [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Average rate | 9.32 | 9.85 | 10.42 |
Reporting date spot rate | 9.13 | 9.53 | |
CNY [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Average rate | 184.28 | 191.6 | 177.36 |
Reporting date spot rate | 180.84 | 181.44 | |
TWD [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Average rate | 41.94 | 43.36 | 40.99 |
Reporting date spot rate | 41.98 | 41.27 | |
EUR [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Average rate | 1,412.67 | 1,357.29 | 1,353.25 |
Reporting date spot rate | 1,426.59 | 1,351.2 | |
PLN [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Average rate | 311.36 | 289.78 | 296.51 |
Reporting date spot rate | 329.11 | 288.7 | |
VND [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Average rate | 0.0548 | 0.0551 | 0.0499 |
Reporting date spot rate | 0.0532 | 0.0537 |
Financial Risk Management - Sum
Financial Risk Management - Summary of Changes in Equity and Profit or Loss (Detail) - 5 percent weakening in exchange rate [member] - KRW (₩) ₩ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Equity [member] | USD [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Increase (decrease) due to a change in the exchange rate | ₩ (68,615) | ₩ (114,317) |
Equity [member] | JPY [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Increase (decrease) due to a change in the exchange rate | (8,160) | (8,614) |
Equity [member] | CNY [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Increase (decrease) due to a change in the exchange rate | (172,198) | (105,926) |
Equity [member] | TWD [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Increase (decrease) due to a change in the exchange rate | 122 | 68 |
Equity [member] | EUR [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Increase (decrease) due to a change in the exchange rate | (208) | 896 |
Equity [member] | PLN [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Increase (decrease) due to a change in the exchange rate | 8 | 11 |
Equity [member] | VND [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Increase (decrease) due to a change in the exchange rate | (3,683) | (6,161) |
Profit and loss [member] | USD [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Increase (decrease) due to a change in the exchange rate | 44,361 | (23,215) |
Profit and loss [member] | JPY [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Increase (decrease) due to a change in the exchange rate | (8,480) | (8,541) |
Profit and loss [member] | CNY [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Increase (decrease) due to a change in the exchange rate | (2) | (5) |
Profit and loss [member] | TWD [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Increase (decrease) due to a change in the exchange rate | 9 | 3 |
Profit and loss [member] | EUR [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Increase (decrease) due to a change in the exchange rate | (52) | (281) |
Profit and loss [member] | PLN [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Increase (decrease) due to a change in the exchange rate | 8 | 11 |
Profit and loss [member] | VND [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Increase (decrease) due to a change in the exchange rate | ₩ (3,683) | ₩ (6,161) |
Financial Risk Management - Add
Financial Risk Management - Additional Information (Detail) ₩ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2023 KRW (₩) Rate | Dec. 31, 2022 KRW (₩) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2023 USD ($) | |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Gain loss on hedge ineffectiveness recognised in other comprehensive income | ₩ (3,268) | ₩ 3,268 | ||
Fair value hedges [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Financial assets effective fo fair value hedging | ₩ 36,052 | |||
Derivative instrument held for hedging, Contracted selling amount | $ | $ 1,200 | |||
Fair value hedges [member] | Bottom of range [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Derivative instrument held for hedging, Contracted exchange rate | Rate | 128,911% | |||
Fair value hedges [member] | Top of range [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Derivative instrument held for hedging, Contracted exchange rate | Rate | 131,008% | |||
Interest rate swap contract [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Notional amount | ₩ 98,000 | |||
Currency interest rate swap contract [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Notional amount | ₩ 1,843,842 | $ 1,430 |
Financial Risk Management - Int
Financial Risk Management - Interest Rate Profile of Interest-bearing Financial Instruments (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial instruments by type of interest rate [Line Items] | ||
Financial liabilities | ₩ (25,766,147) | ₩ (24,359,595) |
Fixed rate instruments [member] | ||
Disclosure of financial instruments by type of interest rate [Line Items] | ||
Financial assets | 3,163,490 | 3,547,256 |
Financial liabilities | (6,333,238) | (6,025,365) |
Financial assets and liabilities | (3,169,748) | (2,478,109) |
Variable rate instruments [member] | ||
Disclosure of financial instruments by type of interest rate [Line Items] | ||
Financial liabilities | ₩ (10,195,891) | ₩ (8,966,045) |
Financial Risk Management - Equ
Financial Risk Management - Equity and Profit or Loss Sensitivity Analysis for Variable Rate Instruments (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
1% increase in interest rates [member] | Equity [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
(Increase) decrease due to a change in the interest rate | ₩ (56,829) | ₩ (49,885) |
Percentage change in interest rate | 1% | 1% |
1% increase in interest rates [member] | Profit and loss [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
(Increase) decrease due to a change in the interest rate | ₩ (56,829) | ₩ (49,885) |
Percentage change in interest rate | 1% | 1% |
1% decrease in interest rates [member] | Equity [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
(Increase) decrease due to a change in the interest rate | ₩ 56,829 | ₩ 49,885 |
Percentage change in interest rate | 1% | 1% |
1% decrease in interest rates [member] | Profit and loss [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
(Increase) decrease due to a change in the interest rate | ₩ 56,829 | ₩ 49,885 |
Percentage change in interest rate | 1% | 1% |
Financial Risk Management - Max
Financial Risk Management - Maximum Exposure to Credit Risk of Financial Assets (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||||
Cash and cash equivalents | ₩ 2,257,522 | ₩ 1,824,649 | ₩ 3,541,597 | ₩ 4,218,099 |
Deposits in banks | 905,982 | 1,722,618 | ||
Trade accounts and notes receivable | 3,218,093 | 2,358,914 | ||
Non-trade receivables | 112,739 | 146,921 | ||
Accrued income | 14,246 | 22,505 | ||
Deposits | 18,378 | 26,586 | ||
Loans | 59,884 | 88,868 | ||
Lease receivables | 4,130 | 11,058 | ||
Credit risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||||
Cash and cash equivalents | 2,257,519 | 1,823,573 | ||
Deposits in banks | 905,982 | 1,722,618 | ||
Trade accounts and notes receivable | 3,218,093 | 2,358,914 | ||
Non-trade receivables | 112,739 | 146,921 | ||
Accrued income | 14,246 | 22,505 | ||
Deposits | 18,378 | 26,586 | ||
Loans | 59,884 | 88,868 | ||
Lease receivables | 4,130 | 11,058 | ||
Financial assets carried at amortized cost | 6,590,971 | 6,201,043 | ||
Financial assets at fair value through profit or loss | 172,830 | 231,877 | ||
Financial assets | 6,763,801 | 6,432,920 | ||
Convertible securities [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||||
Financial assets at fair value through profit or loss | 3,127 | 1,797 | ||
Convertible securities [member] | Credit risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||||
Financial assets at fair value through profit or loss | 3,127 | 1,797 | ||
Derivatives [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||||
Financial assets at fair value through profit or loss | 169,703 | 230,080 | ||
Derivatives [member] | Credit risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||||
Financial assets at fair value through profit or loss | ₩ 169,703 | ₩ 230,080 |
Financial Risk Management - Con
Financial Risk Management - Contractual Maturities of Financial Liabilities, Including Estimated Interest Payments (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Bonds | ₩ 1,597,741 | ₩ 1,570,630 |
Trade accounts and notes payable | 4,175,064 | 4,061,684 |
Other Accounts Payable | 1,829,539 | 2,309,929 |
Other accounts payable (enterprise procurement cards) | 1,092,180 | 935,739 |
Long-term other accounts payable | 413,255 | 508,194 |
Security deposits received | 190,329 | 191,735 |
Lease liabilities | 77,246 | 77,803 |
Derivatives | 45,705 | 29,418 |
Derivatives for fair value hedge | 36,052 | |
Financial liabilities | 25,766,147 | 24,359,595 |
6 months or less [member] | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Bonds | 111,169 | 338,815 |
Trade accounts and notes payable | 3,969,497 | 3,523,098 |
Other Accounts Payable | 1,750,080 | 2,231,832 |
Other accounts payable (enterprise procurement cards) | 938,899 | 935,739 |
Security deposits received | 3,120 | |
Lease liabilities | 29,980 | 26,733 |
Derivatives | 18,781 | (1,637) |
Derivatives for fair value hedge | 1,514 | |
Financial liabilities | 10,357,213 | 11,383,925 |
6-12 months [member] | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Bonds | 319,011 | 16,956 |
Trade accounts and notes payable | 205,567 | 538,586 |
Other Accounts Payable | 79,459 | 78,097 |
Other accounts payable (enterprise procurement cards) | 153,281 | |
Security deposits received | 4,597 | 2,262 |
Lease liabilities | 21,335 | 16,995 |
Derivatives | 3,988 | 10,741 |
Derivatives for fair value hedge | 5,878 | |
Financial liabilities | 2,694,098 | 1,929,884 |
1-2 years [member] | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Bonds | 642,996 | 400,764 |
Long-term other accounts payable | 129,587 | 103,450 |
Security deposits received | 1,047 | 8,463 |
Lease liabilities | 11,848 | 18,552 |
Derivatives | 12,474 | 3,024 |
Derivatives for fair value hedge | 20,282 | |
Financial liabilities | 7,049,352 | 3,670,178 |
2-5 years [member] | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Bonds | 524,565 | 727,752 |
Long-term other accounts payable | 175,358 | 245,064 |
Security deposits received | 181,565 | 181,010 |
Lease liabilities | 11,461 | 10,743 |
Derivatives | 10,462 | 17,290 |
Derivatives for fair value hedge | 8,378 | |
Financial liabilities | 5,308,884 | 6,773,162 |
More than 5 years [member] | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Bonds | 86,343 | |
Long-term other accounts payable | 108,310 | 159,680 |
Lease liabilities | 2,622 | 4,780 |
Financial liabilities | 356,600 | 602,446 |
Unsecured bank borrowings [member] | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Borrowings | 16,309,036 | 14,674,463 |
Unsecured bank borrowings [member] | 6 months or less [member] | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Borrowings | 3,534,173 | 4,329,345 |
Unsecured bank borrowings [member] | 6-12 months [member] | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Borrowings | 1,900,982 | 1,266,247 |
Unsecured bank borrowings [member] | 1-2 years [member] | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Borrowings | 6,231,118 | 3,135,925 |
Unsecured bank borrowings [member] | 2-5 years [member] | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Borrowings | 4,397,095 | 5,591,303 |
Unsecured bank borrowings [member] | More than 5 years [member] | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Borrowings | 245,668 | 351,643 |
Carrying amount [member] | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Borrowings | 15,040,986 | 13,542,664 |
Bonds | 1,488,143 | 1,448,746 |
Trade accounts and notes payable | 4,175,064 | 4,061,684 |
Other Accounts Payable | 1,826,723 | 2,307,190 |
Other accounts payable (enterprise procurement cards) | 1,092,180 | 935,739 |
Long-term other accounts payable | 357,907 | 435,232 |
Security deposits received | 153,370 | 146,788 |
Lease liabilities | 73,364 | 72,788 |
Derivatives | 63,526 | 47,408 |
Derivatives for fair value hedge | 36,052 | |
Financial liabilities | ₩ 24,307,315 | ₩ 22,998,239 |
Financial Risk Management - S_2
Financial Risk Management - Summary of Other Accounts Payable (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Textblock 1 [Abstract] | ||
Beginning balance | ₩ 935,739 | ₩ 1,074,089 |
Change (Cash flows from operation activities) | 156,441 | (138,350) |
Ending balance | ₩ 1,092,180 | ₩ 935,739 |
Financial Risk Management - S_3
Financial Risk Management - Summary of Capital Management (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of objectives, policies and processes for managing capital [abstract] | ||||
Total liabilities | ₩ 26,988,754 | ₩ 24,366,792 | ||
Total equity | 8,770,544 | 11,319,227 | ₩ 14,762,501 | ₩ 12,731,428 |
Cash and deposits in banks | 3,163,493 | 3,547,256 | ||
Borrowings (including bonds) | ₩ 16,529,129 | ₩ 14,991,410 | ||
Total liabilities to equity ratio | 308% | 215% | ||
Net borrowings to equity ratio | 152% | 101% |
Financial Risk Management - Fai
Financial Risk Management - Fair Values of Financial Assets and Liabilities, Together with Carrying Amounts Shown in Consolidated Statement of Financial Position (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about financial instruments [Line Items] | ||||
Cash and cash equivalents | ₩ 2,257,522 | ₩ 1,824,649 | ₩ 3,541,597 | ₩ 4,218,099 |
Deposits in banks | 905,982 | 1,722,618 | ||
Trade accounts and notes receivable | 3,218,093 | 2,358,914 | ||
Non-trade receivables | 112,739 | 146,921 | ||
Accrued income | 14,246 | 22,505 | ||
Deposits | 18,378 | 26,586 | ||
Loans | 59,884 | 88,868 | ||
Lease receivables | 4,130 | 11,058 | ||
Derivatives | 63,526 | 47,408 | ||
Borrowings | 15,040,986 | 13,542,664 | ||
Bonds | 1,488,143 | 1,448,746 | ||
Trade accounts and notes payable | 4,175,064 | 4,061,684 | ||
Other accounts payable | 3,276,810 | 3,678,161 | ||
Security deposits | 153,370 | 146,788 | ||
Lease liabilities | 73,364 | 72,788 | ₩ 84,326 | |
Fair values [member] | ||||
Disclosure of detailed information about financial instruments [Line Items] | ||||
Derivatives | 63,526 | 47,408 | ||
Borrowings | 15,101,258 | 13,521,494 | ||
Bonds | 1,479,725 | 1,377,696 | ||
Equity instrument [member] | ||||
Disclosure of detailed information about financial instruments [Line Items] | ||||
Financial assets at fair value through profit or loss | 87,027 | 96,064 | ||
Equity instrument [member] | Fair values [member] | ||||
Disclosure of detailed information about financial instruments [Line Items] | ||||
Financial assets at fair value through profit or loss | 87,027 | 96,064 | ||
Convertible securities [member] | ||||
Disclosure of detailed information about financial instruments [Line Items] | ||||
Financial assets at fair value through profit or loss | 3,127 | 1,797 | ||
Convertible securities [member] | Fair values [member] | ||||
Disclosure of detailed information about financial instruments [Line Items] | ||||
Financial assets at fair value through profit or loss | 3,127 | 1,797 | ||
Derivatives [member] | ||||
Disclosure of detailed information about financial instruments [Line Items] | ||||
Financial assets at fair value through profit or loss | 169,703 | 230,080 | ||
Financial liabilities effective for fair value hedging | 36,052 | |||
Derivatives [member] | Fair values [member] | ||||
Disclosure of detailed information about financial instruments [Line Items] | ||||
Financial assets at fair value through profit or loss | 169,703 | ₩ 230,080 | ||
Financial liabilities effective for fair value hedging | ₩ 36,052 |
Financial Risk Management - F_2
Financial Risk Management - Fair Value Hierarchy Classifications,Valuation Techniques and Inputs of Financial Instruments Measured at Fair Value (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | ||
Disclosure of detailed information about financial instruments [Line Items] | |||
Derivatives, liabilities | [1] | ₩ 37,333 | ₩ 32,965 |
Derivatives [member] | |||
Disclosure of detailed information about financial instruments [Line Items] | |||
Financial liabilities effective for fair value hedging | ₩ 36,052 | ||
Fair values [member] | Equity instrument [member] | |||
Disclosure of detailed information about financial instruments [Line Items] | |||
Valuation technique, assests | Discounted cash flow, etc. | Discounted cash flow, etc. | |
Input, assets | Discount rate and Estimated cash flow, etc. | Discount rate and Estimated cash flow, etc. | |
Fair values [member] | Convertible securities [member] | |||
Disclosure of detailed information about financial instruments [Line Items] | |||
Valuation technique, assests | Blended discount model and binominal option pricing model | Blended discount model and binominal option pricing model | |
Input, assets | Discount rate, stock price and volatility | Discount rate, stock price and volatility | |
Fair values [member] | Derivatives [member] | |||
Disclosure of detailed information about financial instruments [Line Items] | |||
Valuation technique, assests | Discounted cash flow | Discounted cash flow | |
Valuation technique, liabilities | Discounted cash flow | Discounted cash flow | |
Input, assets | Discount rate and Exchange rate | Discount rate and Exchange rate | |
Input, liabilities | Discount rate and Exchange rate | Discount rate and Exchange rate | |
Financial liabilities effective for fair value hedging | ₩ 36,052 | ||
Fair values [member] | Level 2 [member] | |||
Disclosure of detailed information about financial instruments [Line Items] | |||
Derivatives | 169,703 | ₩ 230,080 | |
Derivatives, liabilities | 63,526 | 47,408 | |
Financial liabilities effective for fair value hedging | 36,052 | ||
Fair values [member] | Level 3 [member] | |||
Disclosure of detailed information about financial instruments [Line Items] | |||
Equity instruments | 87,027 | 96,064 | |
Convertible securities | ₩ 3,127 | ₩ 1,797 | |
[1] (*1) Represents cross currency interest rate swap contracts and others entered into by the Group to hedge currency and interest rate risks with respect to foreign currency denominated borrowings and bonds. The contracts are not designated as hedging instruments. |
Financial Risk Management - F_3
Financial Risk Management - Fair Value Hierarchy Classifications, Valuation Technique and Inputs for Fair Value Measurements of Financial Instruments not Measured at Fair Value (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of fair value measurement of liabilities [Line Items] | ||
Unsecured bank loans received | ₩ 15,040,986 | ₩ 13,542,664 |
Borrowings, bonds and others [member] | Bottom of range [member] | ||
Disclosure of fair value measurement of liabilities [Line Items] | ||
Borrowings, bonds and others | 4.60% | 5.11% |
Borrowings, bonds and others [member] | Top of range [member] | ||
Disclosure of fair value measurement of liabilities [Line Items] | ||
Borrowings, bonds and others | 5.02% | 6.68% |
Not measured at fair value but for which the fair value is disclosed [member] | Borrowing [memeber] | ||
Disclosure of fair value measurement of liabilities [Line Items] | ||
Valuation technique | Discounted cash flow | Discounted cash flow |
Input | Discount rate | Discount rate |
Not measured at fair value but for which the fair value is disclosed [member] | Bonds [member] | ||
Disclosure of fair value measurement of liabilities [Line Items] | ||
Valuation technique | Discounted cash flow | Discounted cash flow |
Input | Discount rate | Discount rate |
Not measured at fair value but for which the fair value is disclosed [member] | Level 3 [member] | ||
Disclosure of fair value measurement of liabilities [Line Items] | ||
Unsecured bank loans received | ₩ 15,101,258 | ₩ 13,521,494 |
Bonds | ₩ 1,479,725 | ₩ 1,377,696 |
Financial Risk Management - Cha
Financial Risk Management - Changes in Financial Assets Classified as Level 3 of Fair Value Measurements (Details) - Level 3 [member] - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Equity Securities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Begining Balance | ₩ 96,064 | ₩ 48,805 |
Acquisition | 3,286 | 27,261 |
Disposal | (414) | (775) |
Valuation | (13,315) | 6,248 |
Changes in foreign exchange rates | 1,406 | 2,720 |
Replacement | 11,805 | |
Ending Balance | 87,027 | 96,064 |
Convertible securities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Begining Balance | 1,797 | 2,758 |
Acquisition | 1,329 | |
Valuation | 41 | 224 |
Changes in foreign exchange rates | (40) | |
Replacement | (1,185) | |
Ending Balance | ₩ 3,127 | ₩ 1,797 |
Financial Risk Management - Net
Financial Risk Management - Net Gains and Losses by Category of Financial Instruments (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Disclosure Of Financial Instruments At Fair Value Through Profit Or Loss Explanatory [Line Items] | ||||
Interest income | ₩ 134,664 | ₩ 85,624 | ₩ 88,888 | |
Interest expense | (723,429) | (414,521) | (434,089) | |
Forign currency differences | (103,882) | 9,274 | (250,181) | |
(Reversal of) Bad debt expense | 181 | 569 | (273) | |
Gain Or Loss On Disposal | (48,964) | (39,588) | (6,119) | |
Gain or loss on valuation | (13,274) | 226,713 | (62,863) | |
Gain or loss on derivative | 102,116 | 177,130 | 221,292 | |
Others | (43) | (14) | ||
Net gain loss on financial assets and liabilities | (652,588) | 45,158 | (443,359) | |
Financial Assets At Amortized Cost [member] | ||||
Disclosure Of Financial Instruments At Fair Value Through Profit Or Loss Explanatory [Line Items] | ||||
Interest income | 134,664 | 85,624 | 88,888 | |
Forign currency differences | 108,546 | 1,061,416 | 668,140 | |
(Reversal of) Bad debt expense | 181 | 569 | (273) | |
Gain Or Loss On Disposal | (48,600) | (37,087) | (4,877) | |
Net gain loss on financial assets and liabilities | 194,791 | 1,110,522 | 751,878 | |
Financial Liabilities At Amortised Cost [member] | ||||
Disclosure Of Financial Instruments At Fair Value Through Profit Or Loss Explanatory [Line Items] | ||||
Interest expense | (723,429) | (403,415) | (418,674) | |
Forign currency differences | (176,376) | (946,650) | (848,072) | |
Gain Or Loss On Disposal | (167) | |||
Gain or loss on valuation | (250) | |||
Net gain loss on financial assets and liabilities | (899,972) | (1,350,065) | (1,266,996) | |
Financial Assets At FVTPL [member] | ||||
Disclosure Of Financial Instruments At Fair Value Through Profit Or Loss Explanatory [Line Items] | ||||
Gain Or Loss On Disposal | 132 | 171 | (1,242) | |
Gain or loss on valuation | (13,274) | 6,473 | 5,808 | |
Net gain loss on financial assets and liabilities | (13,142) | 6,644 | 4,566 | |
Financial Liabilities At FVTPL [member] | ||||
Disclosure Of Financial Instruments At Fair Value Through Profit Or Loss Explanatory [Line Items] | ||||
Interest expense | (11,106) | (15,415) | ||
Forign currency differences | (105,492) | (70,249) | ||
Gain Or Loss On Disposal | (2,672) | |||
Gain or loss on valuation | 220,240 | (68,421) | ||
Others | (43) | (14) | ||
Net gain loss on financial assets and liabilities | 100,927 | (154,099) | ||
Financial Liabilities At FVOCI [member] | ||||
Disclosure Of Financial Instruments At Fair Value Through Profit Or Loss Explanatory [Line Items] | ||||
Gain Or Loss On Disposal | (329) | |||
Net gain loss on financial assets and liabilities | (329) | |||
Other Financial Instruments [Member] | ||||
Disclosure Of Financial Instruments At Fair Value Through Profit Or Loss Explanatory [Line Items] | ||||
Gain or loss on derivative | [1] | 221,292 | ||
Net gain loss on financial assets and liabilities | [1] | ₩ 221,292 | ||
Derivatives [member] | ||||
Disclosure Of Financial Instruments At Fair Value Through Profit Or Loss Explanatory [Line Items] | ||||
Forign currency differences | [2] | (36,052) | ||
Gain or loss on derivative | [2] | 102,116 | 177,130 | |
Net gain loss on financial assets and liabilities | [2] | ₩ 66,064 | ₩ 177,130 | |
[1] Other financial instruments exclude cash flow hedging derivatives. Other financial instruments exclude cash flow hedging derivatives. |
Leases - Disclosure Of Quantita
Leases - Disclosure Of Quantitative Information About Right of use Assets Explanatory (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning Balance | ₩ 20,946,933 | ₩ 20,558,446 | |
Additions and others | 3,467,487 | 5,782,395 | |
Depreciation | (3,636,782) | (3,985,785) | |
Impairments | (60,072) | (1,260,436) | ₩ (19,085) |
Others | (11,206) | (36,809) | |
Disposals | (102,453) | (54,432) | (64,350) |
Gain or loss on foreign currency translation | 54,154 | 156,999 | |
Ending Balance | 20,200,332 | 20,946,933 | 20,558,446 |
Land [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning Balance | 476,045 | ||
Others | (2,902) | 45,771 | |
Ending Balance | 472,813 | 476,045 | |
Other property, plant and equipment [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning Balance | 311,157 | ||
Depreciation | (279,200) | (269,796) | |
Others | 374,182 | 334,931 | |
Gain or loss on foreign currency translation | 983 | 3,643 | |
Ending Balance | 357,200 | 311,157 | |
Right-of-use assets [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning Balance | 112,658 | 119,866 | |
Additions and others | 74,611 | 72,567 | |
Depreciation | (68,349) | (76,370) | |
Impairments | (3,439) | ||
Disposals | (420) | ||
Gain or loss on foreign currency translation | 326 | 454 | |
Ending Balance | 119,246 | 112,658 | 119,866 |
Right-of-use assets [member] | Buildings And Structures [Member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning Balance | 51,033 | 56,167 | |
Additions and others | 65,133 | 60,515 | |
Depreciation | (56,471) | (63,494) | |
Impairments | (2,175) | ||
Gain or loss on foreign currency translation | (1,749) | 20 | |
Ending Balance | 57,946 | 51,033 | 56,167 |
Right-of-use assets [member] | Land [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning Balance | 51,804 | 54,417 | |
Additions and others | 460 | ||
Depreciation | (2,846) | (3,014) | |
Impairments | (721) | ||
Disposals | (420) | ||
Gain or loss on foreign currency translation | 2,291 | 1,082 | |
Ending Balance | 51,249 | 51,804 | 54,417 |
Right-of-use assets [member] | Machinery [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning Balance | 598 | 1,330 | |
Additions and others | 881 | 456 | |
Depreciation | (770) | (1,136) | |
Impairments | (3) | ||
Gain or loss on foreign currency translation | 5 | (49) | |
Ending Balance | 714 | 598 | 1,330 |
Right-of-use assets [member] | Vehicles [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning Balance | 8,502 | 7,062 | |
Additions and others | 6,698 | 11,033 | |
Depreciation | (7,482) | (8,288) | |
Impairments | (501) | ||
Gain or loss on foreign currency translation | (279) | (804) | |
Ending Balance | 7,439 | 8,502 | 7,062 |
Right-of-use assets [member] | Other property, plant and equipment [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning Balance | 721 | 890 | |
Additions and others | 1,899 | 103 | |
Depreciation | (780) | (438) | |
Impairments | (39) | ||
Gain or loss on foreign currency translation | 58 | 205 | |
Ending Balance | ₩ 1,898 | ₩ 721 | ₩ 890 |
Leases - Disclosure of lease re
Leases - Disclosure of lease related income and expenses (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Presentation of leases for lessee [abstract] | |||
Interest on lease liabilities | ₩ (3,343) | ₩ (3,656) | ₩ (3,664) |
Income from sub-leasing right-of-use assets | 276 | 541 | 712 |
Expenses relating to short-term leases | (241) | (785) | (824) |
Expenses relating to leases of low-value assets | ₩ (942) | ₩ (632) | ₩ (577) |
Leases - Schedule of lease liab
Leases - Schedule of lease liabilities (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Lease liabilities [abstract] | |||
Balance | ₩ 72,788 | ₩ 84,326 | |
Additions and others | 70,716 | 67,102 | |
Interest expense | 3,343 | 3,656 | ₩ 3,664 |
Repayment of liabilities | (73,483) | (82,296) | (66,941) |
Balance | ₩ 73,364 | ₩ 72,788 | ₩ 84,326 |
Leases - Schedule of maturity A
Leases - Schedule of maturity Analysis of leases receivable (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Undiscounted finance lease payments to be received | ₩ 4,177 | ₩ 11,377 |
Unearned finance income relating to finance lease payments receivable | (47) | (319) |
Net investment in finance lease | 4,130 | 11,058 |
6 months or less [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Undiscounted finance lease payments to be received | 3,580 | 3,593 |
6-12 months [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Undiscounted finance lease payments to be received | ₩ 597 | 3,593 |
1-2 years [member] | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Undiscounted finance lease payments to be received | ₩ 4,191 |
Leases - Additional Information
Leases - Additional Information (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Leases [Abstract] | ||
Interest income on lease receivables | ₩ 276 | ₩ 533 |
Changes in Liabilities Arisin_3
Changes in Liabilities Arising from Financing Activities - Summary of Changes in Liabilities Arising from Financing Activities (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of reconciliation of liabilities arising from financing activities [Line Items] | ||
Beginning balance | ₩ 15,064,198 | ₩ 12,751,811 |
Cash flows from financing activities | 1,350,863 | 1,946,024 |
Gain or loss on foreign currency translation | 65,524 | 214,056 |
Effective interest adjustment | 4,988 | 12,644 |
Others | 124,222 | 139,663 |
Ending balance | 16,609,795 | 15,064,198 |
Short-term borrowings [member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [Line Items] | ||
Beginning balance | 2,578,552 | 613,733 |
Cash flows from financing activities | (716,386) | 1,922,283 |
Gain or loss on foreign currency translation | 13,469 | 42,536 |
Ending balance | 1,875,635 | 2,578,552 |
Long-term borrowings [member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [Line Items] | ||
Beginning balance | 10,964,112 | 9,438,512 |
Cash flows from financing activities | 2,139,554 | 1,470,383 |
Gain or loss on foreign currency translation | 50,174 | 59,657 |
Effective interest adjustment | 3,271 | |
Others | 8,240 | (4,440) |
Ending balance | 13,165,351 | 10,964,112 |
Bonds [member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [Line Items] | ||
Beginning balance | 1,448,746 | 2,611,561 |
Cash flows from financing activities | 35,276 | (1,071,560) |
Gain or loss on foreign currency translation | 2,237 | 113,669 |
Effective interest adjustment | 1,717 | 12,644 |
Others | 167 | (217,568) |
Ending balance | 1,488,143 | 1,448,746 |
Lease liabilities [member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [Line Items] | ||
Beginning balance | 72,788 | 84,326 |
Cash flows from financing activities | (73,483) | (82,296) |
Gain or loss on foreign currency translation | (312) | (1,806) |
Others | 74,371 | 72,564 |
Ending balance | 73,364 | 72,788 |
Dividend payable [member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [Line Items] | ||
Beginning balance | 3,679 | |
Cash flows from financing activities | (34,098) | (292,786) |
Gain or loss on foreign currency translation | (44) | |
Others | 41,444 | ₩ 289,107 |
Ending balance | ₩ 7,302 |
Changes in Liabilities Arisin_4
Changes in Liabilities Arising from Financing Activities - Summary of Changes in Liabilities Arising from Financing Activities (Parenthetical) (Detail) ₩ in Millions | 12 Months Ended |
Dec. 31, 2022 KRW (₩) | |
Disclosure of reconciliation of liabilities arising from financing activities [abstract] | |
Loss On Valuation Of Financial Liabilities At Fair Value Through Profit Or Loss | ₩ 220,240 |
Repayment of borrowings and bonds | ₩ 2,672 |
Related Parties and Others - Si
Related Parties and Others - Significant Transactions, Trade Accounts and Notes Receivable and Payable Occurred in Normal Course of Business with Related Parties (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Disclosure of transactions between related parties [Line Items] | ||||
Sales and others | ₩ 3,210,048 | ₩ 4,232,231 | ₩ 4,920,246 | |
Dividend income | 15,200 | 4,461 | 4,068 | |
Purchase of raw material and others | 232,459 | 303,229 | 437,650 | |
Acquisition of property, plant and equipment | 344,189 | 548,051 | 451,395 | |
Outsourcing fees | 43,210 | 64,492 | 72,156 | |
Other costs | 331,488 | 264,174 | 254,771 | |
Trade accounts and notes receivable and others | 403,145 | 330,003 | ||
Trade accounts and notes payable and others | 1,436,686 | 358,137 | ||
Associates [Member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Dividend income | 15,200 | 4,461 | 4,068 | |
Purchase of raw material and others | 194,968 | 272,649 | 390,188 | |
Acquisition of property, plant and equipment | 17,447 | 29,951 | 54,071 | |
Outsourcing fees | 43,210 | 64,492 | 72,156 | |
Other costs | 21,791 | 14,599 | 14,122 | |
Trade accounts and notes receivable and others | 695 | 878 | ||
Trade accounts and notes payable and others | 75,731 | 43,369 | ||
Associates [Member] | AVATEC Co., Ltd. [member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Dividend income | 200 | |||
Purchase of raw material and others | 452 | 58 | 713 | |
Outsourcing fees | 43,210 | 64,492 | 72,156 | |
Other costs | 11,003 | 3,617 | 1,485 | |
Trade accounts and notes payable and others | 4,775 | 3,756 | ||
Associates [Member] | Paju Electric Glass Co., Ltd. [member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Dividend income | 15,200 | 4,361 | 3,668 | |
Purchase of raw material and others | 176,831 | 245,962 | 365,400 | |
Other costs | 4,341 | 2,942 | 2,734 | |
Trade accounts and notes payable and others | 56,136 | 30,431 | ||
Associates [Member] | WooRee E&L Co Ltd [member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Purchase of raw material and others | 7,853 | 12,321 | 13,541 | |
Other costs | 513 | 2 | 79 | |
Trade accounts and notes receivable and others | 695 | 878 | ||
Trade accounts and notes payable and others | 2,219 | 1,502 | ||
Associates [Member] | YAS Co., Ltd. [member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Dividend income | 100 | 200 | ||
Purchase of raw material and others | 9,832 | 14,291 | 10,337 | |
Acquisition of property, plant and equipment | 17,447 | 29,951 | 54,071 | |
Other costs | 5,755 | 8,038 | 9,824 | |
Trade accounts and notes payable and others | 12,483 | 7,680 | ||
Associates [Member] | Material Science Co., Ltd. [member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Purchase of raw material and others | 17 | 187 | ||
Other costs | 179 | |||
Trade accounts and notes payable and others | 118 | |||
Associates [Member] | Cynora GmbH [Member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Purchase of raw material and others | 10 | |||
Entity that has significant influence over the controlling company [member] | LG Electronics Inc. [member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Sales and others | 231,935 | 238,358 | 270,396 | |
Purchase of raw material and others | 22,370 | 19,808 | 19,805 | |
Acquisition of property, plant and equipment | 320,555 | 517,476 | 395,654 | |
Other costs | 180,539 | 137,703 | 130,924 | |
Trade accounts and notes receivable and others | [1] | 63,284 | 69,447 | |
Trade accounts and notes payable and others | [1] | 1,140,260 | 99,934 | |
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Sales and others | 2,978,113 | 3,993,873 | 4,649,850 | |
Purchase of raw material and others | 15,121 | 10,772 | 27,657 | |
Acquisition of property, plant and equipment | 6,187 | 624 | 1,670 | |
Other costs | 129,158 | 111,872 | 109,725 | |
Trade accounts and notes receivable and others | 339,166 | 259,678 | ||
Trade accounts and notes payable and others | 220,695 | 214,834 | ||
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | LG Electronics India Pvt. Ltd. [Member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Sales and others | 47,031 | 70,514 | 97,475 | |
Other costs | 270 | 519 | 418 | |
Trade accounts and notes receivable and others | 2,013 | 5,669 | ||
Trade accounts and notes payable and others | 35 | 15 | ||
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | LG Electronics Vietnam Haiphong Co., Ltd. [member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Sales and others | 434,789 | 468,380 | 414,806 | |
Acquisition of property, plant and equipment | 6,108 | 607 | ||
Other costs | 982 | 882 | 1,445 | |
Trade accounts and notes receivable and others | 76,952 | 50,173 | ||
Trade accounts and notes payable and others | 1,403 | 53 | ||
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | LG Electronics Nanjing New Technology Co., Ltd. [member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Sales and others | 350,207 | 334,099 | 449,390 | |
Other costs | 451 | 1,178 | 1,263 | |
Trade accounts and notes receivable and others | 38,502 | 30,018 | ||
Trade accounts and notes payable and others | 27 | |||
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | LG Electronics RUS, LLC [member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Sales and others | 360 | 23,458 | 98,812 | |
Other costs | 2,359 | 414 | 1,141 | |
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | LG Electronics do Brasil Ltda. [member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Sales and others | 29,249 | 88,835 | 154,565 | |
Other costs | 316 | 200 | 543 | |
Trade accounts and notes receivable and others | 6,252 | 10,997 | ||
Trade accounts and notes payable and others | 32 | |||
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | LG Innotek Co., Ltd. [member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Sales and others | 7,754 | 27,698 | 3,753 | |
Purchase of raw material and others | 14,970 | 10,122 | 26,874 | |
Acquisition of property, plant and equipment | 451 | |||
Other costs | 100,272 | 79,515 | 85,471 | |
Trade accounts and notes receivable and others | [2] | 3,002 | 3,838 | |
Trade accounts and notes payable and others | [2] | 216,049 | 209,032 | |
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | LG Electronics Mlawa Sp. z o.o. [member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Sales and others | 811,880 | 1,178,140 | 1,254,164 | |
Other costs | 1,611 | 1,089 | 577 | |
Trade accounts and notes receivable and others | 101,357 | 94,346 | ||
Trade accounts and notes payable and others | 155 | |||
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | LG Electronics Taiwan Taipei Co., Ltd. [member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Sales and others | 3,433 | 5,046 | ||
Other costs | 615 | 659 | ||
Trade accounts and notes payable and others | 115 | 77 | ||
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | LG Electronics Reynosa, S.A. DE C.V. [member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Sales and others | 826,547 | 1,195,146 | 1,256,107 | |
Other costs | 810 | 958 | 1,011 | |
Trade accounts and notes receivable and others | 64,208 | 16,760 | ||
Trade accounts and notes payable and others | 109 | 167 | ||
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | LG Electronics Mexicali, S.A. DE C.V. [Member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Sales and others | 269,305 | |||
Other costs | 89 | |||
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | LG Electronics Egypt S.A.E. [member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Sales and others | 20,225 | 72,055 | 106,469 | |
Other costs | 66 | 372 | 159 | |
Trade accounts and notes receivable and others | 369 | |||
Trade accounts and notes payable and others | 1 | |||
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | LG Electronics Nanjing Vehicle Components Co.,Ltd [member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Sales and others | 1,414 | 2,009 | ||
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | LG Technology Ventures LLC [Member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Other costs | 2,596 | 4,922 | 4,411 | |
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | LG Electronics Japan, Inc. [member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Sales and others | 114 | |||
Acquisition of property, plant and equipment | 24 | 16 | 10 | |
Other costs | 6,254 | 7,307 | 5,334 | |
Trade accounts and notes receivable and others | 114 | |||
Trade accounts and notes payable and others | 632 | 566 | ||
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | P.T. LG Electronics Indonesia [member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Sales and others | 448,528 | 531,543 | 537,944 | |
Other costs | 2,231 | 1,415 | 574 | |
Trade accounts and notes receivable and others | 46,146 | 45,617 | ||
Trade accounts and notes payable and others | 108 | 195 | ||
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | HI-M Solutek Co., Ltd [member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Purchase of raw material and others | 9 | 58 | 44 | |
Other costs | 7,316 | 9,258 | 5,662 | |
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | Other related parties [member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Sales and others | 15 | 572 | 5 | |
Purchase of raw material and others | 142 | 592 | 739 | |
Acquisition of property, plant and equipment | 55 | 608 | 602 | |
Other costs | 1,447 | 913 | ₩ 968 | |
Trade accounts and notes receivable and others | 251 | 2,260 | ||
Trade accounts and notes payable and others | 2,184 | 4,574 | ||
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | LG Electronics U.S.A. Inc. [Member] | ||||
Disclosure of transactions between related parties [Line Items] | ||||
Other costs | ₩ 2,177 | ₩ 2,315 | ||
[1] (*1) Trade accounts and note payable and others for LG Electronics Inc. as of December 31, 2023 includes long-term borrowings of W 1,000,000 million. (see note 12(c)) (*2) Trade accounts and note payable and others for LG Innotek Co., Ltd. as of December 31, 2023 and 2022 Includes deposits received amount W 180,000 million from lease agreement. |
Related Parties and Others - _2
Related Parties and Others - Significant Transactions, Trade Accounts and Notes Receivable and Payable Occurred in Normal Course of Business with Related Parties (Paranthetical) (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of transactions between related parties [line items] | ||
Long-term borrowings | ₩ 10,230,658 | ₩ 8,425,195 |
LG Innotek Co., Ltd. [member] | ||
Disclosure of transactions between related parties [line items] | ||
Deposits received from lease agreement | 180,000 | ₩ 180,000 |
LG Electronics Inc [member] | ||
Disclosure of transactions between related parties [line items] | ||
Long-term borrowings | ₩ 1,000,000 |
Related Parties and Others - De
Related Parties and Others - Details of Significant Financing Transactions with Related Parties (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |||||
Apr. 20, 2023 | Mar. 30, 2023 | Mar. 27, 2023 | Dec. 31, 2023 | Dec. 31, 2021 | ||
WooRee E&L Co Ltd [member] | ||||||
Disclosure of transactions between related parties [Line Items] | ||||||
Loans | ₩ 878 | |||||
Collection of loans | ₩ 183 | |||||
LG Electronics Inc [member] | ||||||
Disclosure of transactions between related parties [Line Items] | ||||||
Borrowings from related party | ₩ 350,000 | ₩ 650,000 | ₩ 1,000,000 | ₩ 1,000,000 | [1] | |
[1] (*) The Group entered into a loan agreement with LG Electronics Inc. on March 27, 2023 for a total borrowing amount of W 1,000,000 million, and received W 650,000 million on March 30, 2023 and W 350,000 million on April 20, 2023. The repayment plan is instalment payment for a period of one year, granting grace period of two years and the maturity date is March 30, 2026 (see note 12(c) |
Related Parties and Others - _3
Related Parties and Others - Details of Significant Financing Transactions with Related Parties (Paranthetical) (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||||
Apr. 20, 2023 | Mar. 30, 2023 | Mar. 27, 2023 | Dec. 31, 2023 | ||
LG Electronics Inc [member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Borrowings from related party | ₩ 350,000 | ₩ 650,000 | ₩ 1,000,000 | ₩ 1,000,000 | [1] |
[1] (*) The Group entered into a loan agreement with LG Electronics Inc. on March 27, 2023 for a total borrowing amount of W 1,000,000 million, and received W 650,000 million on March 30, 2023 and W 350,000 million on April 20, 2023. The repayment plan is instalment payment for a period of one year, granting grace period of two years and the maturity date is March 30, 2026 (see note 12(c) |
Related Parties and Others - Co
Related Parties and Others - Compensation Costs of Key Management (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of transactions between related parties [abstract] | |||
Short-term benefits | ₩ 2,291 | ₩ 2,305 | ₩ 3,747 |
Expenses related to the defined benefit plan | 355 | 417 | 366 |
Key management personnel compensation | ₩ 2,646 | ₩ 2,722 | ₩ 4,113 |
Supplemental Cash Flow Inform_3
Supplemental Cash Flow Information - Summary of Non-cash Investing and Financing Activities (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Statement of cash flows [abstract] | |||
Changes in other accounts payable arising from the purchase of property, plant and equipment | ₩ (348,046) | ₩ 480,322 | ₩ 445,028 |
Changes in other accounts payable arising from the purchase of intangible assets | (27,918) | (113,185) | 529,826 |
Recognition of right of use assets and lease liabilities | ₩ 74,611 | ₩ 54,927 | ₩ 63,655 |
Subsequent Event (Detail)
Subsequent Event (Detail) - KRW (₩) ₩ / shares in Units, ₩ in Millions | Mar. 14, 2024 | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of non-adjusting events after reporting period [line items] | |||
Number of issued shares of common stock | 357,815,700 | 357,815,700 | |
Issuance price per share | ₩ 5,000 | ₩ 5,000 | |
New shares of common stock [member] | |||
Disclosure of non-adjusting events after reporting period [line items] | |||
Number of issued shares of common stock | 142,184,300 | ||
Total issuance amount | ₩ 1,292,455 | ||
Issuance price per share | ₩ 9,090 |