Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2019shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Transition Report | false |
Document Annual Report | true |
Document Shell Company Report | false |
Document Period End Date | Dec. 31, 2019 |
Document Fiscal Year Focus | 2019 |
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 Common Stock, Shares Outstanding | 357,815,700 |
Entity Voluntary Filers | No |
Entity Interactive Data Current | Yes |
Entity Address, Country | KR |
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, 2019 | Dec. 31, 2018 |
Assets | ||
Cash and cash equivalents | ₩ 3,336,003 | ₩ 2,365,022 |
Deposits in banks | 78,757 | 78,400 |
Trade accounts and notes receivable, net | 3,154,080 | 2,829,163 |
Other accounts receivable, net | 474,048 | 169,313 |
Other current financial assets | 70,945 | 46,301 |
Inventories | 2,051,155 | 2,691,203 |
Prepaid income taxes | 114,143 | 4,516 |
Non-current assets held for sale | 70,161 | |
Other current assets | 969,184 | 546,048 |
Total current assets | 10,248,315 | 8,800,127 |
Deposits in banks | 11 | 11 |
Investments in equity accounted investees | 109,611 | 113,989 |
Other non-current accounts receivable, net | 9,072 | 11,448 |
Other non-current financial assets | 111,510 | 144,214 |
Property, plant and equipment, net | 22,087,645 | 21,600,130 |
Intangible assets, net | 873,448 | 987,642 |
Deferred tax assets | 1,727,122 | 1,136,166 |
Defined benefit assets, net | 127,252 | |
Other non-current assets | 280,577 | 381,983 |
Total non-current assets | 25,326,248 | 24,375,583 |
Total assets | 35,574,563 | 33,175,710 |
Liabilities | ||
Trade accounts and notes payable | 2,618,261 | 3,087,461 |
Current financial liabilities | 1,977,084 | 1,553,907 |
Other accounts payable | 4,397,121 | 3,566,629 |
Accrued expenses | 675,270 | 633,346 |
Income tax payable | 120,034 | 105,900 |
Provisions | 189,525 | 98,254 |
Advances received | 925,662 | 834,010 |
Other current liabilities | 82,019 | 74,976 |
Total current liabilities | 10,984,976 | 9,954,483 |
Non-current financial liabilities | 11,612,910 | 7,030,628 |
Non-current provisions | 67,118 | 32,764 |
Defined benefit liabilities, net | 1,338 | 45,360 |
Long-term advances received | 320,582 | 1,114,316 |
Deferred tax liabilities | 11,210 | 15,087 |
Other non-current liabilities | 88,148 | 96,826 |
Total non-current liabilities | 12,101,306 | 8,334,981 |
Total liabilities | 23,086,282 | 18,289,464 |
Equity | ||
Share capital | 1,789,079 | 1,789,079 |
Share premium | 2,251,113 | 2,251,113 |
Retained earnings | 7,503,312 | 10,239,965 |
Reserves | (203,021) | (300,968) |
Total equity attributable to owners of the Controlling Company | 11,340,483 | 13,979,189 |
Non-controlling interests | 1,147,798 | 907,057 |
Total equity | 12,488,281 | 14,886,246 |
Total liabilities and equity | ₩ 35,574,563 | ₩ 33,175,710 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of comprehensive income [abstract] | |||
Revenue | ₩ 23,475,567 | ₩ 24,336,571 | ₩ 27,790,216 |
Cost of sales | (21,607,240) | (21,251,305) | (22,424,661) |
Gross profit | 1,868,327 | 3,085,266 | 5,365,555 |
Selling expenses | (1,057,753) | (834,062) | (994,483) |
Administrative expenses | (947,978) | (938,214) | (696,022) |
Research and development expenses | (1,221,978) | (1,221,198) | (1,213,432) |
Other income | 1,267,251 | 1,004,137 | 1,081,746 |
Other expenses | (3,097,743) | (1,115,233) | (1,230,455) |
Finance income | 276,732 | 254,131 | 279,019 |
Finance costs | (443,247) | (326,893) | (268,856) |
Equity in income of equity accounted investees, net | 12,147 | 700 | 9,560 |
Profit (loss) before income tax | (3,344,242) | (91,366) | 2,332,632 |
Income tax expense (benefit) | (472,164) | 88,077 | 395,580 |
Profit (loss) for the year | (2,872,078) | (179,443) | 1,937,052 |
Other comprehensive income (loss) Items that will never be reclassified to profit or loss | |||
Remeasurements of net defined benefit liabilities | 128,640 | 5,690 | (16,260) |
Other comprehensive income (loss) from associates | 238 | 20 | 441 |
Related income tax | (35,235) | (1,169) | 9,259 |
Items that will never be reclassified to profit or loss | 93,643 | 4,541 | (6,560) |
Other comprehensive income (loss), Items that are or may be reclassified to profit or loss | |||
Foreign currency translation differences for foreign operations | 106,690 | (19,987) | (231,738) |
Other comprehensive income from associates | 3,925 | 37 | 905 |
Items that are or may be reclassified to profit or loss | 110,615 | (19,950) | (230,833) |
Other comprehensive income (loss) for the year, net of income tax | 204,258 | (15,409) | (237,393) |
Total comprehensive income (loss) for the year | (2,667,820) | (194,852) | 1,699,659 |
Profit (loss) attributable to: | |||
Owners of the Controlling Company | (2,829,705) | (207,239) | 1,802,756 |
Non-controlling interests | (42,373) | 27,796 | 134,296 |
Profit (loss) for the year | (2,872,078) | (179,443) | 1,937,052 |
Total comprehensive income (loss) attributable to: | |||
Owners of the Controlling Company | (2,636,948) | (215,386) | 1,596,394 |
Non-controlling interests | (30,872) | 20,534 | 103,265 |
Total comprehensive income (loss) for the year | ₩ (2,667,820) | ₩ (194,852) | ₩ 1,699,659 |
Earnings (loss) per share (in won) | |||
Basic and diluted earnings (loss) per share | ₩ (7,908) | ₩ (579) | ₩ 5,038 |
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, 2016 | ₩ 13,462,388 | ₩ 1,789,079 | ₩ 2,251,113 | ₩ 9,004,283 | ₩ (88,478) | ₩ 12,955,997 | ₩ 506,391 |
Total comprehensive income (loss) for the year | |||||||
Profit (loss) for the year | 1,937,052 | 1,802,756 | 1,802,756 | 134,296 | |||
Other comprehensive income (loss) | |||||||
Other comprehensive income (loss) | (237,393) | (6,560) | (199,802) | (206,362) | (31,031) | ||
Total comprehensive income (loss) for the year | 1,699,659 | 1,796,196 | (199,802) | 1,596,394 | 103,265 | ||
Dividends to share holders | (178,908) | (178,908) | (178,908) | ||||
Subsidiaries' dividends distributed to non-controlling interests | (5,929) | (5,929) | |||||
Capital contribution from non-controlling interests | 4,300 | 4,300 | |||||
Ending Balance at Dec. 31, 2017 | 14,981,510 | 1,789,079 | 2,251,113 | 10,621,571 | (288,280) | 14,373,483 | 608,027 |
Total comprehensive income (loss) for the year | |||||||
Profit (loss) for the year | (179,443) | (207,239) | (207,239) | 27,796 | |||
Other comprehensive income (loss) | |||||||
Other comprehensive income (loss) | (15,409) | 4,541 | (12,688) | (8,147) | (7,262) | ||
Total comprehensive income (loss) for the year | (194,852) | (202,698) | (12,688) | (215,386) | 20,534 | ||
Dividends to share holders | (178,908) | (178,908) | (178,908) | ||||
Subsidiaries' dividends distributed to non-controlling interests | (53,107) | (53,107) | |||||
Capital contribution from non-controlling interests | 331,603 | 331,603 | |||||
Ending Balance at Dec. 31, 2018 | 14,886,246 | 1,789,079 | 2,251,113 | 10,239,965 | (300,968) | 13,979,189 | 907,057 |
Total comprehensive income (loss) for the year | |||||||
Profit (loss) for the year | (2,872,078) | (2,829,705) | (2,829,705) | (42,373) | |||
Other comprehensive income (loss) | |||||||
Other comprehensive income (loss) | 204,258 | 93,643 | 99,114 | 192,757 | 11,501 | ||
Total comprehensive income (loss) for the year | (2,667,820) | (2,736,062) | 99,114 | (2,636,948) | (30,872) | ||
Subsidiaries' dividends distributed to non-controlling interests | (6,541) | (6,541) | |||||
Capital contribution from non-controlling interests | 276,396 | (591) | (1,167) | (1,758) | 278,154 | ||
Ending Balance at Dec. 31, 2019 | ₩ 12,488,281 | ₩ 1,789,079 | ₩ 2,251,113 | ₩ 7,503,312 | ₩ (203,021) | ₩ 11,340,483 | ₩ 1,147,798 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flows from operating activities: | |||
Profit (loss) for the year | ₩ (2,872,078) | ₩ (179,443) | ₩ 1,937,052 |
Adjustments for: | |||
Income tax expense (benefit) | (472,164) | 88,077 | 395,580 |
Depreciation and amortization | 3,695,051 | 3,554,565 | 3,214,576 |
Gain on foreign currency translation | (103,460) | (84,643) | (187,558) |
Loss on foreign currency translation | 171,966 | 138,452 | 174,919 |
Expenses related to defined benefit plans | 162,997 | 179,880 | 198,241 |
Gain on disposal of property, plant and equipment | (35,788) | (6,620) | (101,227) |
Loss on disposal of property, plant and equipment | 40,897 | 15,048 | 20,030 |
Impairment loss on property, plant and equipment | 1,550,430 | 43,601 | |
Impairment loss on inventories | 472,885 | 313,180 | 206,127 |
Bad debt expense (reversal) | (17) | (1,155) | 144 |
Gain on disposal of intangible assets | (552) | (239) | (308) |
Loss on disposal of intangible assets | 139 | 30 | |
Impairment loss on intangible assets | 249,450 | 82 | 1,809 |
Reversal of impairment loss on intangible assets | (960) | (348) | (35) |
Impairment loss on other assets | 3,602 | ||
Gain on disposal of non-current assets held for sale | (8,353) | ||
Expense on increase of provisions | 419,720 | 234,928 | 251,131 |
Finance income | (186,707) | (101,313) | (202,591) |
Finance costs | 338,419 | 173,975 | 142,591 |
Equity in income of equity method accounted investees, net | (12,147) | (700) | (9,560) |
Other income | (20,416) | (3,310) | (16,812) |
Other expenses | 4,451 | 593 | 1,870 |
Adjustments for reconcile of profit and loss | 3,397,365 | 4,364,610 | 6,026,009 |
Changes in Trade accounts and notes receivable | (1,007,356) | 1,306,118 | 484,448 |
Other accounts receivable | (49,443) | (56,870) | (3,004) |
Inventories | 159,474 | (763,081) | (262,106) |
Lease receivables | 6,617 | ||
Other current assets | (288,770) | (249,968) | 180,844 |
Other non-current assets | (38,608) | (61,164) | (119,002) |
Trade accounts and notes payable | (394,564) | 267,358 | 113,590 |
Other accounts payable | 2,035,750 | (111,053) | 106,930 |
Accrued expenses | 11,787 | (194,394) | 181,509 |
Provisions | (294,096) | (217,984) | (210,973) |
Other current liabilities | (214,675) | 78,849 | (585) |
Defined benefit liabilities, net | (65,681) | (224,335) | (261,966) |
Long-term advances received | 63,672 | 948,276 | 1,020,470 |
Other non-current liabilities | 7,045 | 24,510 | 5,974 |
Cash generated from operating activities | 3,328,517 | 5,110,872 | 7,262,138 |
Income taxes paid | (252,812) | (486,549) | (416,794) |
Interests received | 47,276 | 71,819 | 55,340 |
Interests paid | (416,436) | (212,019) | (136,483) |
Net cash provided by operating activities | 2,706,545 | 4,484,123 | 6,764,201 |
Cash flows from investing activities: | |||
Dividends received | 7,502 | 5,272 | 8,639 |
Increase in deposits in banks | (114,557) | (775,239) | (1,803,718) |
Proceeds from withdrawal of deposits in banks | 114,200 | 1,454,561 | 2,206,148 |
Acquisition of financial assets at fair value through profit or loss | (708) | (431) | |
Proceeds from disposal of financial asset at fair value through profit or loss | 452 | ||
Acquisition of financial assets at fair value through other comprehensive income | (21) | ||
Proceeds from disposal of financial assets at fair value through other comprehensive income | 107 | 6 | |
Acquisition of available-for-sale financial assets | (273) | ||
Proceeds from disposal of available-for-sale financial assets | 917 | ||
Acquisition of investments in equity accounted investees | (14,732) | (20,309) | |
Proceeds from disposal of investments in equity accounted investees | 16,738 | 4,527 | 13,128 |
Acquisition of property, plant and equipment | (6,926,985) | (7,942,210) | (6,592,435) |
Proceeds from disposal of property, plant and equipment | 335,446 | 142,088 | 160,252 |
Acquisition of intangible assets | (540,996) | (480,607) | (454,448) |
Proceeds from disposal of intangible assets | 2,468 | 960 | 1,674 |
Government grants received | 248,124 | 1,210 | 1,859 |
Proceeds from disposal of non-current assets held for sale | 81,351 | ||
Receipt from settlement of derivatives | 21,752 | 2,026 | 2,592 |
Increase in short-term loans | (8,725) | (7,700) | |
Proceeds from collection of short-term loans | 19,881 | 15,968 | 1,118 |
Increase in long-term loans | (6,465) | (36,580) | (13,930) |
Increase in deposits | (30,680) | (58,794) | (2,648) |
Proceeds from disposal of emission rights | 20,416 | 10,200 | 6,090 |
Decrease in deposits | 5,307 | 4,136 | 4,272 |
Net cash used in investing activities | (6,755,393) | (7,675,339) | (6,481,072) |
Cash flows from financing activities: | |||
Proceeds from short-term borrowings | 1,841,008 | 552,164 | |
Repayments of short-term borrowings | (1,154,911) | (552,884) | (105,864) |
Proceeds from issuance of bonds | 1,323,251 | 828,169 | 497,959 |
Proceeds from long-term borrowings | 4,341,087 | 3,882,958 | 1,195,415 |
Repayments of current portion of long-term borrowings and bonds | (1,567,818) | (1,859,098) | (544,731) |
Payment of lease liabilities | (64,570) | ||
Capital contribution from non-controlling interests | 276,396 | 331,603 | 4,300 |
Subsidiaries' dividends distributed to non-controlling interests | (6,541) | (51,085) | (5,929) |
Dividends paid | (178,908) | (178,908) | |
Net cash provided by financing activities | 4,987,902 | 2,952,919 | 862,242 |
Net increase (decrease) in cash and cash equivalents | 939,054 | (238,297) | 1,145,371 |
Beginning Balance | 2,365,022 | 2,602,560 | 1,558,696 |
Effect of exchange rate fluctuations on cash held | 31,927 | 759 | (101,507) |
Ending Balance | ₩ 3,336,003 | ₩ 2,365,022 | ₩ 2,602,560 |
Reporting Entity
Reporting Entity | 12 Months Ended |
Dec. 31, 2019 | |
Text block [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, 2019, the Group is operating Thin Film Transistor Liquid Crystal Display (“TFT-LCD”) TFT-LCD Yeouidae-ro, Yeongdeungpo-gu, The Controlling Company’s common stock is listed on the Korea Exchange under the identifying code 034220. As of December 31, 2019, 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 (b) Consolidated Subsidiaries as of December 31, 2019 (In millions) Subsidiaries Location Percentage Fiscal year end Date of incorporation Business Capital stocks LG Display America, Inc. San Jose, U.S.A. 100 % December 31 September 24, 1999 Sell display products USD 411 LG Display Germany GmbH Eschborn, Germany 100 % December 31 November 5, 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 NTD 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 Poland Sp. z o.o.(*1). Wroclaw, Poland 100 % December 31 September 6, 2005 Manufacture display products PLN 511 LG Display Guangzhou Co., Ltd. Guangzhou, China 100 % December 31 June 30, 2006 Manufacture display products CNY 1,655 LG Display Shenzhen Co., Ltd. Shenzhen, China 100 % December 31 August 28, 2007 Sell display products CNY 4 LG Display Singapore Pte. Ltd. Singapore 100 % December 31 January 12, 2009 Sell display products USD 1.1 L&T Display Technology (Fujian) Limited Fujian, China 51 % December 31 January 5, 2010 Manufacture and sell LCD module and LCD monitor sets CNY 116 LG Display Yantai Co., Ltd. Yantai, China 100 % December 31 April 19, 2010 Manufacture display products CNY 1,008 Nanumnuri Co., Ltd. Gumi, South Korea 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 Technology, LLC Wilmington, U.S.A. 100 % December 31 March 12, 2014 Manage intellectual property USD 9 LG Display Guangzhou Trading Co., Ltd. Guangzhou, China 100 % December 31 April 28, 2015 Sell display products CNY 1.2 Global OLED Technology, LLC Sterling , U.S.A. 100 % December 31 December 18, 2009 Manage OLED intellectual property USD 138 LG Display Vietnam Haiphong Co., Ltd. (*2) Haiphong Vietnam 100 % December 31 May 5, 2016 Manufacture display products USD 600 Suzhou Lehui Display Co., Ltd. Suzhou, China 100 % December 31 July 1, 2016 Manufacture and sell LCD module and LCD monitor sets CNY 637 LG DISPLAY FUND I LLC(*3) Wilmington, U.S.A. 100 % December 31 May 1, 2018 Invest in venture business and acquire technologies USD 6 LG Display High-Tech (China) Co., Ltd.(*4) Guangzhou, China 75 % December 31 July 11, 2018 Manufacture and sell display products CNY 14,570 Money Market Trust Seoul, South Korea 100 % December 31 — Money market trust KRW 34,700 (*1) On July 1, 2019, LG Display Poland Sp. z o.o. commenced the liquidation process. (*2) For the year ended December 31, 2019, the Controlling Company contributed W (*3) For the year ended December 31, 2019, the Controlling Company contributed W (*4) For the year ended December 31, 2019, the Controlling Company contributed W non-controlling W W W W W |
Basis of Presenting Financial S
Basis of Presenting Financial Statements | 12 Months Ended |
Dec. 31, 2019 | |
Text block [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 Board of Directors on January 30, 2020. (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 statements 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 critical judgments in applying accounting policies that have the most significant effect on the amounts recognized in the consolidated financial statements is included in the following notes: • Financial instruments (note 3(f)) • Intangible assets (note 3( j Information about assumptions and estimation uncertainties that have a significant risk of resulting in a material adjustment within the next 12 months is included in the following notes: • Provisions (note 3(m), 13) • Inventories (note 3(e), 7) • Property, Plant and Equipment (note 9) • Intangible assets (note 10) • Employee benefits (note 12) • Deferred tax assets and liabilities (note 24) |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Significant Accounting Policies | 3. Summary of Significant Accounting Policies The significant accounting policies followed by the Group in the preparation of its consolidated financial statements are as follows: (a) Changes in Accounting Policies The Group has initially applied IFRS 16, Leases In application of IFRS 16, Leases right-of-use i) Definition of a lease Previously, the Group determined at contract inception whether an arrangement was or contained a lease under IFRIC 4, Determining Whether an Arrangement contains a Lease On adoption of IFRS 16, as of January 1, 2019, the Group applied the practical expedient to grandfather the assessment of which transactions are leases for existing contracts. The Group applied IFRS 16 only to contracts that were previously identified as leases. ii) Accounting as a lessee As a lessee, the Group leases buildings, vehicles, machinery, equipment and others. The Group previously classified leases as operating or finance leases based on its assessment of whether the lease transferred significantly all of the risks and rewards incidental to ownership of the underlying asset to the Group. Under IFRS 16, the Group recognizes right-of-use 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 Leases classified as operating lease under IAS 17 The Group classified its leases of buildings, vehicles, machinery, equipment and others as operating leases under IAS 17. On adoption of IFRS 16, for these leases, lease liabilities were measured at the present value of the remaining lease payments, discounted at the Group’s incremental borrowing rate as at January 1, 2019 (see note 27). Right-of-use The Group used following practical expedients when applying IFRS 16 to leases previously classified as operating leases under IAS 17: • did not recognize right-of-use • did not recognize right-of-use • excluded initial direct costs from the measurement of the right-of-use • used hindsight when determining the remaining lease term. iii) Accounting as a lessor The Group leases out its own property and right-of-use The Group is not required to make any adjustments on transition for leases as a lessor, except for sub-lease right-of-use Under IAS 17, the head lease and sub-lease right-of-use sub-lease The Group applied IFRS 15 to allocate consideration in the contract to each lease and non-lease iv) Impact on the consolidated financial statements Impacts on adoption On adoption of IFRS 16, the Group recognized additional right-of-use ( In millions of won ) January 1, 2019 Right-of-use W 142,040 Prepaid expenses (61,570 ) Lease receivable 34,649 Lease liabilities 115,119 When measuring lease liabilities at January 1, 2019 for leases that were classified as operating leases in accordance with IAS 17, the Group discounted lease payments using its incremental borrowing rate at January 1, 2019. The weighted-average discount rate applied is 3.36%. ( In millions of won ) January 1, 2019 Amount of operating lease commitments at December 31, 2018 W 119,659 Discounted using the incremental borrowing rate at January 1, 2019 115,614 Finance lease liabilities recognized as at December 31, 2018 — - Recognition exemption for lease of low-value (262 ) - Recognition exemption for leases with less than 12 months of lease term at adoption (233 ) Lease liabilities recognized at January 1, 2019 115,119 v) Enforceable period and determination of the lease term In December 2019, International Financial Reporting Interpretations Committee (“IFRIC”) issued its final agenda decision with interpretations that the concept of loss or penalty that should be considered in determining the enforceable period of a lease contract under IFRS 16, Leases, shall be determined considering the broader economic losses of the lease contract, and not only contractual termination payments. Such agenda decision also makes an interpretation that a lease is no longer enforceable when each of the parties has the right to terminate the lease without permission from the other party by making no more than an insignificant amount of termination payment. As of December 31, 2019, the Group assesses the lease term based on the assumption that the right to extend or terminate the lease is no longer enforceable if a lease contract requires the counterparty’s consent to be extended. Applying the foregoing interpretations by IFRIC may change the judgment on enforceable period for certain of the Group’s lease contracts. The Group determined that there has not been sufficient time or information to analyze and apply the impact of the foregoing interpretations by IFRIC in these consolidated financial statements, given the number and complexity of lease contracts to which the Group is a party. Therefore, as permitted under the related agenda decision by the Due Process Oversight Committee, the Group plans to analyze and apply the impact of the foregoing interpretations by IFRIC in 2020, if any, as changes in accounting policies. (b) Consolidation (i) Business Combinations The Group accounts for business combinations using the acquisition method except for a combination of entities or businesses under common control. The consideration transferred in the acquisition is generally measured at fair value, as are the identifiable net assets acquired. If the aggregate sum of consideration transferred and non-controlling pre-existing (ii) 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. (iii) Non-controlling interests Non-controlling non-controlling Changes in the Group’s interest in subsidiaries that do not result in a loss of control are accounted for as equity transactions. (iv) 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. (v) 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 has 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. (vi) 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. (c) Foreign Currency Transaction and Translation Transactions in foreign currencies are translated to the respective functional currencies of the Group 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 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 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. (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. (f) Financial Instruments (i) Non-derivative Recognition and initial measurement Trade receivables and debt securities 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: Policy applicable from January 1, 2018 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. 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 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: Policy applicable from January 1, 2018 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: Policy applicable from January 1, 2018 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. 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 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: Policy applicable from January 1, 2018 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. v) Financial assets: Policy applicable before January 1, 2018 The Group has classified financial assets into one of the following categories • loans and receivables • available-for-sale • at FVTPL vi) Financial assets: subsequent measurement, gains and losses: Policy applicable before January 1, 2018 Financial assets at FVTPL Measured at fair value and changes therein, including any interest or dividend income, were recognized in profit or loss. Loans and receivables Measured at amortized cost using the effective interest method. Available-for-sale Measured at fair value and changes therein, other than impairment losses, interest income and foreign currency differences on debt instruments, were recognized in OCI and accumulated in the fair value reserves. When these assets were derecognized, the gain or loss accumulated in equity was classified 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. Offset Financial assets and liabilities are offset and the net amount is presented in the consolidated statement of financial position when, and only when, the Group has a legal right to offset the amounts and intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously. (ii) Non-derivative 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 non-derivative 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. 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. 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. (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 (iii) Depreciation Depreciation 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: 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 (*) (*) The Group depreciates the right-of-use right-of-use (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: (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 investments in subsidiaries, associates and joint ventures over the Group’s share of 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. 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. (iii) Other intangible assets Other intangible assets include intellectual property rights, software, customer relationships, technology, memberships and others. (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 Rights to use electricity, water and gas supply facilities 10 Software 4 Customer relationships 7, 10 Technology 10 Development costs (*) Condominium and golf club memberships Not amortized (*) 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. (k) 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 • debt securities that are determined to have low credit risk at the reporting date; |
Cash and Cash Equivalents and D
Cash and Cash Equivalents and Deposits in Banks | 12 Months Ended |
Dec. 31, 2019 | |
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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, 2018 and December 31, 2019 are as follows: ( In millions of won December 31, 2018 December 31, 2019 Current assets Cash and cash equivalents Demand deposits W 2,365,022 3,336,003 Deposits in banks Time deposits W 4,318 1,500 Restricted deposits(*) 74,082 77,257 W 78,400 78,757 Non-current Deposits in banks Restricted deposits(*) W 11 11 W 2,443,433 3,414,771 (*) Includes funds deposited under agreements on mutually beneficial cooperation to aid LG Group companies’ suppliers, restricted deposits pledged to enforce the Group’s investment plans upon the receipt of grants from Gumi city and Gyeongsangbuk-do, |
Receivables and Other Assets
Receivables and Other Assets | 12 Months Ended |
Dec. 31, 2019 | |
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Receivables and Other Assets | 5. Receivables and Other Assets (a) Trade accounts and notes receivable as of December 31, 2018 and December 31, 2019 are as follows: ( In millions of won December 31, 2018 December 31, 2019 Due from third parties W 2,305,368 2,576,391 Due from related parties 523,795 577,689 W 2,829,163 3,154,080 (b) Other accounts receivable as of December 31, 2018 and December 31, 2019 are as follows: ( In millions of won December 31, 2018 December 31, 2019 Current assets Non-trade W 159,238 463,614 Accrued income 10,075 10,434 W 169,313 474,048 Non-current assets Long-term non-trade 11,448 9,072 W 180,761 483,120 Due from related parties included in other accounts receivable, as of December 31, 2018 and 2019 are W W (c) The aging of trade accounts and notes receivable, and other accounts receivable as of December 31, 2018 and December 31, 2019 are as follows: (In millions of won) December 31, 2018 Book value Allowance for impairment Trade accounts and notes receivable Other accounts receivable Trade accounts and notes receivable Other accounts receivable Current W 2,807,598 177,689 (473 ) (816 ) Past due 1-15 21,558 3,148 (4 ) (26 ) Past due 16-30 days 454 441 — (4 ) Past due 31-60 30 96 — (1 ) Past due more than 60 days — 668 — (434 ) W 2,829,640 182,042 (477 ) (1,281 ) (In millions of won) December 31, 2019 Book value Allowance for impairment Trade accounts and notes receivable Other accounts receivable Trade accounts and notes receivable Other accounts receivable Current W 3,119,914 208,086 (454 ) (3,292 ) Past due 1-15 34,626 3,512 (6 ) (1 ) Past due 16-30 days — 598 — (4 ) Past due 31-60 — 61 — — Past due more than 60 days — 274,185 — (25 ) W 3,154,540 486,442 (460 ) (3,322 ) 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, 2017, 2018 and 2019 are as follows: ( In millions of won ) Trade accounts and notes receivable 2017 2018 2019 Balance at the beginning of the year W 1,488 1,632 477 (Reversal of) bad debt expense 144 (1,155 ) (17 ) Balance at the end of the year W 1,632 477 460 ( In millions of won Other accounts receivable 2017 2018 2019 Balance at the beginning of the year W 1,116 1,311 1,281 (Reversal of) bad debt expense 195 (30 ) 2,041 Balance at the end of the year W 1,311 1,281 3,322 (d) Other assets as of December 31, 2018 and December 31, 2019 are as follows: (In millions of won) December 31, 2018 December 31, 2019 Current assets Advanced payments W 13,259 6,203 Prepaid expenses 89,110 114,145 Value added tax refundable 436,190 826,730 Right to recover returned goods 7,489 22,106 W 546,048 969,184 Non-current Long-term prepaid expenses W 381,983 272,835 Long-term advanced payments — 7,742 W 381,983 280,577 |
Other Financial Assets
Other Financial Assets | 12 Months Ended |
Dec. 31, 2019 | |
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Other Financial Assets | 6. Other Financial Assets Other financial assets as of December 31, 2018 and 2019 are as follows: ( In millions of won December 31, 2018 December 31, 2019 Current assets Financial assets at fair value through profit or loss Derivatives(*) W 13,059 34,036 Financial assets at fair value through other comprehensive income Debt instruments Government bonds W 106 6 Financial asset carried at amortized cost Deposits W 17,020 9,585 Short-term loans 16,116 21,623 Lease receivables — 5,695 W 33,136 36,903 W 46,301 70,945 Non-current Financial assets at fair value through profit or loss Equity instruments Intellectual Discovery, Ltd. W 4,598 1,104 Kyulux, Inc. 2,460 1,889 Fineeva Co., Ltd. 286 4 ARCH Venture Fund Vlll, L.P. 6,337 6,302 Sierra Ventures Fund XII, L.P. — 580 W 13,681 9,879 Convertible bonds W 1,327 1,544 Derivatives(*) — 15,640 W 15,008 27,063 Financial assets at fair value through other comprehensive income Debt instruments Government bonds W 55 70 Financial assets carried at amortized cost Deposits W 74,103 21,451 Long-term loans 55,048 40,827 Lease receivables — 22,099 W 129,151 84,377 W 144,214 111,510 (*) Represents valuation gain from currency interest rate swap contracts related to foreign currency denominated borrowings and bonds. The contracts are not designated as hedging instruments. Other financial assets of related parties as of December 31, 2018 is W |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2019 | |
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Inventories | 7. Inventories Inventories as of December 31, 2018 and 2019 are as follows: (In millions of won) December 31, 2018 December 31, 2019 Finished goods W 1,084,297 730,009 Work-in-process 856,388 756,744 Raw materials 554,720 405,854 Supplies 195,798 158,548 W 2,691,203 2,051,155 For the years ended December 31, 2017, 2018 and 2019, the amount of inventories recognized as cost of sales and inventory write-downs included in cost of sales are as follows: (In millions of won) 2017 2018 2019 Inventories recognized as cost of sales W 22,424,661 21,251,305 21,607,240 Including: inventory write-downs 206,127 313,180 472,885 There were no significant reversals of inventory write-downs recognized during 2017, 2018 and 2019. |
Investments in Equity Accounted
Investments in Equity Accounted Investees | 12 Months Ended |
Dec. 31, 2019 | |
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Investments in Equity Accounted Investees | 8. Investments in Equity Accounted Investees (a) Associates at the reporting date are as follows: (In millions of won) Associates Location Fiscal year end Date of incorporation Business 2018 2019 Percentage Carrying amount Percentage Carrying amount Paju Electric Glass Co., Ltd. Paju, South Korea December 31 January 2005 Manufacture glass for display 40 % W 47,823 40 % W 50,697 INVENIA Co., Ltd.(*1) Seongnam, South Korea December 31 January 2001 Develop and manufacture equipment for display manufacture 13 % 4,166 — — WooRee E&L Co., Ltd.(*2) Ansan, South Korea December 31 June 2008 Manufacture LED back light unit packages 14 % 4,746 14 % 7,310 YAS Co., Ltd. Paju, South Korea December 31 April 2002 Develop and manufacture deposition equipment for OLEDs 15 % 16,308 15 % 19,424 AVATEC Co., Ltd.(*3) Daegu, South Korea December 31 August 2000 Process and sell glass for display 17 % 23,441 14 % 19,929 Arctic Sentinel, Inc. Los Angeles, U.S.A. March 31 June 2008 Develop and manufacture tablet for kids 10 % — 10 % — Cynora GmbH (*4) Bruchsal, Germany December 31 March 2003 Develop organic emitting materials for displays and lighting devices 14 % 8,668 12 % 4,714 Material Science Co., Ltd.(*5) Seoul, South Korea December 31 January 2014 Develop, manufacture, and sell materials for display 10 % W 3,346 10 % W 2,354 Nanosys Inc.(*6) Milpitas, U.S.A. December 31 July 2001 Develop, manufacture, and sell materials for display 4 % 5,491 4 % 5,183 W 113,989 W 109,611 (*1) During 2019, the Controlling Company disposed of the entire investments, 3,000,000 shares of common stock, in INVENIA Co., Ltd and recognized W (*2) During 2019, the Controlling Company recognized a reversal of impairment loss of W (*3) During 2019, the Controlling Company disposed of 650,000 shares of common stock in AVATEC Co., Ltd. As of December 31, 2019, the Controlling Company’s ownership percentage in AVATEC Co., LTD. is 14% and the Controlling Company recognized W (*4) During 2019, the Controlling Company recognized an impairment loss of W Cynora GmbH. As of December 31, 2019, the Controlling Company’s ownership percentage in Cynora GmbH decreased from 14% to 12% as the Controlling Company did not participate in the capital increase of Cynora GmbH. (*5) During 2019, the Controlling Company recognized an impairment loss of W (*6) During 2019, the Controlling Company recognized a reversal of impairment loss of W Although the Controlling Company’s respective share interests in WooRee E&L Co., Ltd., YAS Co., Ltd., AVATEC Co., Ltd., Arctic Sentinel, Inc., Cynora As of December 31, 2019, 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 W W Dividends income recognized from equity method investees for the years ended December 31, 2017, 2018 and 2019 amounted to W W W (b) Summary of financial information of the significant associate as of December 31, 2018 and 2019 and for the years ended December 31, 2017, 2018 and 2019 is as follows: (i) Paju Electric Glass Co., Ltd. (In millions of won) December 31, 2018 December 31, 2019 Total assets W 194,021 195,815 Current assets 128,788 126,314 Non-current 65,233 69,501 Total liabilities 72,686 66,017 Current liabilities 66,797 51,625 Non-current 5,889 14,392 (In millions of won) 2017 2018 2019 Revenue W 408,846 384,144 346,434 Profit for the year 12,327 12,744 13,672 Other comprehensive income (loss) (9,366 ) 2,612 9,933 Total comprehensive income 2,961 15,356 23,605 (c) Reconciliation from financial information of the significant associate to its carrying value in the consolidated financial statements as of December 31, 2018 and 2019 is as follows: (i) As of December 31, 2018 (In millions of won) Company Net asset Ownership Net asset Goodwill Intra-group Book value Paju Electric Glass Co., Ltd. W 121,335 40 % 48,534 — (711 ) 47,823 (ii) As of December 31, 2019 (In millions of won) Company Net asset Ownership Net asset Goodwill Intra-group Impairment Book Paju Electric Glass Co., Ltd. W 129,798 40 % 51,919 — (789 ) (433 ) 50,697 (d) Book value of other associates, in aggregate, as of December 31, 2018 and 2019 is as follows: (i) As of December 31, 2018 (In millions of won) Book value Net profit of associates (applying ownership interest) Profit for the Other comprehensive Total comprehensive Other associates W 66,166 (3,739 ) (988 ) (4,727 ) (ii) As of December 31, 2019 (In millions of won) Book value Net profit (loss) of associates (applying ownership interest) Profit (loss) for the year Other comprehensive Total comprehensive Other associates W 58,914 6,756 190 6,946 (e) Changes in investments in associates accounted for using the equity method for the years ended December 31, 2018 and 2019 are as follows: (In millions of won) 2018 Company January 1 Acquisition/ Disposal Dividends Equity income Other Other gain (loss) December 31 Associates Paju Electric Glass Co., Ltd. W 46,511 — (4,172 ) 4,439 1,045 — 47,823 Others 75,996 12,592 (1,100 ) (3,739 ) (988 ) (16,595 ) 66,166 W 122,507 12,592 (5,272 ) 700 57 (16,595 ) 113,989 (In millions of won) 2019 Company January 1 Acquisition/ Disposal Dividends Equity income Other Other December 31 Associates Paju Electric Glass Co., Ltd. W 47,823 — (6,057 ) 5,391 3,973 (433 ) 50,697 Others 66,166 (9,807 ) (1,445 ) 6,756 190 (2,946 ) 58,914 W 113,989 (9,807 ) (7,502 ) 12,147 4,163 (3,379 ) 109,611 |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Property, Plant and Equipment | 9. Property, Plant and Equipment (a) Changes in property, plant and equipment for the year ended December 31, 2018 are as follows: (In millions of won) Land Buildings Machinery and equipment Furniture and fixtures Construction -in-progress (*1) Others Total Acquisition cost as of January 1, 2018 W 460,511 6,539,506 38,901,158 772,824 5,971,856 205,475 52,851,330 Accumulated depreciation as of January 1, 2018 — (2,678,970 ) (33,186,118 ) (631,482 ) — (148,753 ) (36,645,323 ) Accumulated impairment loss as of January 1, 2018 — (1,757 ) (2,290 ) — — — (4,047 ) Book value as of January 1, 2018 W 460,511 3,858,779 5,712,750 141,342 5,971,856 56,722 16,201,960 Additions — — — — 8,605,551 — 8,605,551 Depreciation — (318,311 ) (2,568,335 ) (67,274 ) — (169,739 ) (3,123,659 ) Disposals (15 ) (161 ) (112,752 ) (311 ) — (2,971 ) (116,210 ) Impairment loss — — (25,711 ) — (17,890 ) — (43,601 ) Others(*2) 1,332 55,430 1,959,645 68,177 (2,357,412 ) 380,278 107,450 Effect of movements in exchange rates — 9,809 14,520 359 15,010 312 40,010 Government grants received — — (1,029 ) — (181 ) — (1,210 ) Reclassification to assets held-for-sale — (69,758 ) (1 ) (37 ) — (365 ) (70,161 ) Book value as of December 31, 2018 W 461,828 3,535,788 4,979,087 142,256 12,216,934 264,237 21,600,130 Acquisition cost as of December 31, 2018 W 461,828 6,528,939 39,825,070 834,628 12,234,824 633,220 60,518,509 Accumulated depreciation as of December 31, 2018 W — (2,991,445 ) (34,817,982 ) (692,372 ) — (368,983 ) (38,870,782 ) Accumulated impairment loss as of December 31, 2018 W — (1,706 ) (28,001 ) — (17,890 ) — (47,597 ) (*1) As of December 31, 2018, construction-in-progress mainly relates to construction of manufacturing facilities. (*2) Others are mainly amounts transferred from construction-in-progress. (b) Changes in property, plant and equipment for the year ended December 31, 2019 are as follows: (In millions of won) Land Buildings Machinery and equipment Furniture and fixtures Construction -in-progress (*1) Right-of- use asset Others Total Acquisition cost as of January 1, 2019 W 461,828 6,528,939 39,825,070 834,628 12,234,824 — 633,220 60,518,509 Accumulated depreciation as of January 1, 2019 — (2,991,445 ) (34,817,982 ) (692,372 ) — — (368,983 ) (38,870,782 ) Accumulated impairment loss as of January 1, 2019 — (1,706 ) (28,001 ) — (17,890 ) — — (47,597 ) Book value as of January 1, 2019 W 461,828 3,535,788 4,979,087 142,256 12,216,934 — 264,237 21,600,130 Recognition of right-of-use — — — — — 142,040 — 142,040 Adjusted book value as of January 1, 2019 W 461,828 3,535,788 4,979,087 142,256 12,216,934 142,040 264,237 21,742,170 Additions — — — — 5,878,369 29,733 — 5,908,102 Depreciation — (302,157 ) (2,609,205 ) (66,592 ) — (51,063 ) (239,762 ) (3,268,779 ) Disposals (7,861 ) (4,958 ) (559,616 ) (1,622 ) — (3,594 ) (16,953 ) (594,604 ) Impairment loss (*2) — (125,687 ) (1,212,215 ) (8,278 ) (171,439 ) (4,302 ) (28,509 ) (1,550,430 ) Others (*3) 68 1,064,123 6,958,793 70,140 (8,373,047 ) — 279,923 — Government grants received — (83,200 ) (17,028 ) — (180,448 ) — — (280,676 ) Effect of movements in exchange rates — 21,984 30,957 884 75,958 436 1,643 131,862 Book value as of December 31, 2019 W 454,035 4,105,893 7,570,773 136,788 9,446,327 113,250 260,579 22,087,645 Acquisition cost as of December 31, 2019 W 454,035 7,381,156 43,604,721 899,053 9,618,256 169,133 823,101 62,949,455 Accumulated depreciation as of December 31, 2019 W — (3,154,387 ) (34,810,300 ) (753,987 ) — (51,581 ) (534,013 ) (39,304,268 ) Accumulated impairment loss as of December 31, 2019 W — (120,876 ) (1,223,648 ) (8,278 ) (171,929 ) (4,302 ) (28,509 ) (1,557,542 ) (*1) As of December 31, 2019, construction-in-progress mainly relates to construction of manufacturing facilities. (*2) During 2019, Display (AD PO) and Lighting CGUs were assessed for impairment, and impairment losses amounting to W W W we are (*3) Others are mainly amounts transferred from construction-in-progress. (c) Capitalized borrowing costs and capitalization rate for the years ended December 31, 2017, 2018 and 2019 are as follows: (In millions of won) 2017 2018 2019 Capitalized borrowing costs W 47,686 146,607 283,525 Capitalization rate 1.92 % 2.80 % 3.74 % |
Intangible Assets and Non-curre
Intangible Assets and Non-current Asset Impairment | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Intangible Assets and Non-current Asset Impairment | 10. Intangible Assets and Non-current (a) Changes in intangible assets for the year ended December 31, 2018 are as follows: (In millions of won) Intellectual property Software Member- Development Construction -in-progress Customer relationships Technology Good- will Others (*2) Total Acquisition cost as of January 1, 2018 W 895,721 898,278 54,985 1,769,998 30,933 59,176 11,074 103,048 13,077 3,836,290 Accumulated amortization as of January 1, 2018 (648,755 ) (736,788 ) — (1,473,238 ) — (31,337 ) (8,490 ) — (13,076 ) (2,911,684 ) Accumulated impairment loss as of January 1, 2018 — — (11,785 ) — — — — — — (11,785 ) Book value as of January 1, 2018 W 246,966 161,490 43,200 296,760 30,933 27,839 2,584 103,048 1 912,821 Additions - internally developed — — — 372,835 — — — — — 372,835 Additions - external purchases 24,596 — 2,844 — 100,820 — — — — 128,260 Amortization(*1) (43,437 ) (80,159 ) — (302,685 ) — (3,517 ) (1,107 ) — (1 ) (430,906 ) Disposals — — (721 ) — — — — — — (721 ) Impairment loss — — (82 ) — — — — — — (82 ) Reversal of impairment loss — — 348 — — — — — — 348 Transfer from construction-in-progress — 95,028 449 — (95,028 ) — — — — 449 Effect of movements in exchange rates 1,896 1,240 1 — 238 — — 1,263 — 4,638 Book value as of December 31, 2018 W 230,021 177,599 46,039 366,910 36,963 24,322 1,477 104,311 — 987,642 Acquisition cost as of December 31, 2018 W 926,969 992,139 57,560 2,142,832 36,963 59,176 11,075 104,311 13,077 4,344,102 Accumulated amortization as of December 31, 2018 W (696,948 ) (814,540 ) — (1,775,922 ) — (34,854 ) (9,598 ) — (13,077 ) (3,344,939 ) Accumulated impairment loss as of December 31, 2018 W — — (11,521 ) — — — — — — (11,521 ) (*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. (b) Changes in intangible assets for the year ended December 31, 2019 are as follows: (In millions of won) Intellectual property Software Member- Development Construction -in-progress Customer relationships Technology Good- will Others (*2) Total Acquisition cost as of January 1, 2019 W 926,969 992,139 57,560 2,142,832 36,963 59,176 11,075 104,311 13,077 4,344,102 Accumulated amortization as of January 1, 2019 (696,948 ) (814,540 ) — (1,775,922 ) — (34,854 ) (9,598 ) — (13,077 ) (3,344,939 ) Accumulated impairment loss as of January 1, 2019 — — (11,521 ) — — — — — — (11,521 ) Book value as of January 1, 2019 W 230,021 177,599 46,039 366,910 36,963 24,322 1,477 104,311 — 987,642 Additions - internally developed — — — 437,945 — — — — — 437,945 Additions - external purchases 28,397 — 846 — 90,369 — — — 3 119,615 Amortization (*1) (42,550 ) (82,016 ) — (297,959 ) — (2,637 ) (1,108 ) — (2 ) (426,272 ) Disposals — (239 ) (1,816 ) — — — — — — (2,055 ) Impairment loss (*3)(*4) (29,152 ) (8,905 ) — (131,713 ) — (21,685 ) — (57,995 ) — (249,450 ) Reversal of impairment loss — — 960 — — — — — — 960 Transfer from construction-in-progress — 111,359 — — (112,159 ) — — — — (800 ) Effect of movements in exchange rates 4,318 347 23 — 72 — — 1,103 — 5,863 Book value as of December 31, 2019 W 191,034 198,145 46,052 375,183 15,245 — 369 47,419 1 873,448 Acquisition cost as of December 31, 2019 W 959,683 1,097,290 56,612 2,580,777 15,245 59,176 11,074 105,414 13,080 4,898,351 Accumulated amortization as of December 31, 2019 W (739,498 ) (890,281 ) — (2,073,881 ) — (37,491 ) (10,705 ) — (13,079 ) (3,764,935 ) Accumulated impairment loss as of December 31, 2019 W (29,151 ) (8,864 ) (10,560 ) (131,713 ) — (21,685 ) — (57,995 ) — (259,968 ) (*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 2019, Display(AD PO) and Lighting CGUs were assessed for impairment, and the impairment losses amounting to W W W (*4) The Group recognized an impairment loss amounting to W (c) Development of new projects are divided into research activities and development activities. Expenditures on research activities are recognized in profit or loss and qualifying development expenditures are capitalized, respectively. (d) Development costs as of December 31, 2018 and 2019 are as follows: (i) As of December 31, 2018 (In millions of won and in years) Classification Product Book Value Remaining Useful life Development completed Mobile W 108,467 0.5 TV 28,001 0.5 Notebook 4,458 0.6 Others 9,475 0.5 W 150,401 Development in process Mobile W 144,679 — TV 55,580 — Notebook 9,639 — Others 6,611 — W 216,509 W 366,910 (ii) As of December 31, 2019 (In millions of won and in years) Classification Product Book Value Remaining Useful life Development completed Mobile W 53,350 0.4 TV 22,597 0.4 Notebook 14,464 0.4 Others 12,370 0.7 W 102,781 Development in process Mobile W 157,483 — TV 42,587 — Notebook 46,167 — Others 26,165 — W 272,402 W 375,183 (e) Impairment assessment (i) During 2019, the Group has distinguished Display (AD PO) and Lighting businesses as separate CGUs from the existing Display CGU due to the initiation of independent factory production of Display (AD PO) business and the decision of Lighting business planned discontinuance in response to business environmental changes. As of December 31, 2019, goodwill allocated to the Display CGU amounts to W (ii) Impairment on assets belonging to all of the CGUs was assessed due to the decision of planned discontinuance of Lighting business and adverse changes in the business environment of Display (AD PO). The recoverable amount of each CGU is estimated based on its value in use. Value in use is calculated using the estimated pre-tax cash flow based on 5-year business plan approved by management. The estimated sales of the Group’s products used in the forecast was determined considering external sources and the Group’s past experience. Management estimated the future pre- tax cash flow based on its past performance and forecasts on market growth. The key assumptions used in the estimation of value in use for Display (AD PO) CGU and Display CGU include revenue and operating expenditures for the forecast period, growth rates for subsequent years (“terminal growth rate”), and discount rate. For all of the CGUs, the terminal growth rate and the discount rate in the estimation of value in use as of December 31, 2019 are as follows. Lighting(*2) Display (AD PO)(*3) Display(*4) Discount rate(*1) 6.1 % 6.1 % 6.1 % Terminal growth rate N/A 0.0 % 1.0 % (*1) 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 by the interest rate of the Group’s publicly issued bonds and debt ratio was determined using the average of the debt ratios of the five global listed companies in the same industry with (*2) As a result of impairment test, the carrying amount of Lighting CGU which produces OLED lighting products was fully impaired with impairment loss of W (*3) As a result of impairment test, the carrying amount of Display(AD PO) CGU which produces plastic OLED mobile products and commenced mass production in 2019, exceeds the recoverable amount of W W and terminal growth rate W W (*4) As a result of impairment test for Display CGU, the recoverable amount exceeds the carrying amount by W |
Financial Liabilities
Financial Liabilities | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Financial Liabilities | 11. Financial Liabilities (a) Financial liabilities at the reporting date are as follows: ( In millions of won December 31, 2018 December 31, 2019 Current Short-term borrowings W — 696,793 Current portion of long-term borrowings and bonds 1,553,907 1,242,904 Lease liabilities — 37,387 W 1,553,907 1,977,084 Non-current Won denominated borrowings W 2,700,608 2,692,560 Foreign currency denominated borrowings 2,531,663 6,107,117 Bonds 1,772,599 2,741,516 Derivatives(*) 25,758 20,592 Lease liabilities — 51,125 W 7,030,628 11,612,910 (*) Represents currency interest rate swap contracts entered by the Group to hedge interest rate risks with respect to foreign currency denominated borrowings and bonds . (b) Foreign currency denominated short-term borrowings as of December 31, 2019 are as follows. There are none as of December 31, 2018. (In millions of won and USD, CNY) Lender Annual interest rate as of December 31, 2019 (%)(*) December 31, 2019 Standard Chartered Bank Korea Limited 12ML + 0.78~0.88 W 347,340 Standard Chartered Bank Vietnam and others 3ML + 0.80~0.90 61,613 Standard Chartered Bank (China) Limited and others PBOC x 1.05 PBOC - 0.05 287,840 Foreign currency equivalent USD 353 CNY 1,737 W 696,793 (*) ML represents Month LIBOR (London Inter-Bank Offered Rates) and PBOC represents the benchmark interest rate of People’s Bank of China. (c) Won denominated long-term borrowings at the reporting date are as follows: (In millions of won) Lender Annual interest rate as of December 31, 2019 (%)(*) December 31, December 31, Woori Bank 2.75 W 1,259 608 Korea Development Bank and others CD rate (91days) + 2,850,000 3,330,000 Less current portion of long-term borrowings (150,651 ) (638,048 ) W 2,700,608 2,692,560 (*) CD represents Certificate of Deposit. (d) Foreign currency denominated long-term borrowings at the reporting date are as follows: (In millions of won and USD, CNY) Lender Annual interest rate as of December 31, 2019 (%) December 31, December 31, The Export-Import Bank of Korea 3ML+0.75~1.70 6ML+1.25~1.35 W 955,975 1,696,177 China Construction Bank and others USD: 3ML+0.80~1.43 CNY: PBOC X (0.95~1.05) 2,419,286 4,606,094 Foreign currency equivalent USD 2,262 USD 2,767 CNY 5,198 CNY 18,699 Less current portion of long-term borrowings (843,598 ) (195,154 ) W 2,531,663 6,107,117 (e) Details of bonds issued and outstanding at the reporting date are as follows: (In millions of won) Maturity Annual interest rate as of December 31, 2019 (%) December 31, 2018 December 31, 2019 Won denominated bonds(*1) Publicly issued bonds May 2020 ~ February 2024 1.95~2.95 W 1,900,000 1,730,000 Privately issued bonds May 2025 ~ May 2033 3.25~4.25 110,000 110,000 Less discount on bonds (3,949 ) (3,404 ) Less current portion (559,658 ) (409,702 ) W 1,446,393 1,426,894 Foreign currency denominated bonds(*2) Publicly issued bonds November 2021 3.88 W 335,430 347,340 Privately issued bonds April 2023 3ML + 1.47 — 115,780 Foreign currency equivalent USD 300 USD 400 Less discount on bonds (9,224 ) (6,883 ) W 326,206 456,237 Financial liabilities at fair value through profit or loss Foreign currency convertible bonds August 2024 1.50 W — 858,385 Foreign currency equivalent — USD 741 W 1,772,599 2,741,516 (*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 or semi-annually. (f) Details of the convertible bonds issued and outstanding as of December 31, 2019 are as follows: (In won, USD) Description Type Unsecured foreign currency denominated convertible bonds Issuance amount USD 687,800,000 Annual interest rate (%) 1.50 Issuance date August 22, 2019 Maturity date August 22, 2024 Interest payment Payable semi-annually in arrear until maturity date in equal installments commencing on issuance Principal redemption 1. Redemption at maturity : Redeemed on the maturity date, at their outstanding principal amount, which has not been early redeemed or converted. 2. Advanced redemption : The Controlling Company has a right to redeem in advance (call option) and the bondholders have a right to require the Controlling Company to redeem in advance (put option). At exercise, the outstanding principal amount together with accrued but unpaid interest are to be redeemed. Conversion price W Conversion period From August 23, 2020 to August 12, 2024 Redemption at the option of the issuer (Call option) • On or at any time after 3 years from the issuance, if the closing price of the shares for any 20 trading days out of the 30 consecutive trading days is at least 130% of the applicable conversion price • The aggregate principal amount of the convertible bonds outstanding is less than 10% of the aggregate principal amount originally issued, or • In the event of certain changes in laws and other directives resulting in additional taxes for the holders Redemption at the option of the bondholders (Put option) On the day of 3 years from the issuance The Controlling Company designated the convertible bonds as financial liabilities at fair value through profit of loss and recognized the change in fair value in profit or loss. The Controlling Company measures the convertible bond at fair value using the market price of convertible bonds disclosed on Bloomberg. The number of convertible shares as of December 31, 2019 is as follows: (In won and No. of shares) December 31, 2019 Aggregate outstanding amount of the convertible bonds W 813,426,670,000 Conversion price W 19,845 Number of common shares to be issued at conversion 40,988,998 |
Employee Benefits
Employee Benefits | 12 Months Ended |
Dec. 31, 2019 | |
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Employee Benefits | 12. Employee Benefits The Controlling Company and certain subsidiaries’ defined benefit plans provide a lump-sum 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 at the reporting date are as follows: (In millions of won) December 31, 2018 December 31, 2019 Present value of partially funded defined benefit obligations W 1,595,423 1,481,339 Fair value of plan assets (1,550,063 ) (1,607,253 ) W 45,360 (125,914 ) Defined benefit liabilities, net W 45,360 1,338 Defined benefit assets W — 127,252 (b) Changes in the present value of the defined benefit obligations for the years ended December 31, 2018 and 2019 are as follows: (In millions of won) 2018 2019 Opening defined benefit obligations W 1,562,424 1,595,423 Current service cost 204,668 194,469 Past service cost (25,749 ) (32,006 ) Interest cost 49,145 42,360 Remeasurements (before tax) (27,885 ) (137,464 ) Benefit payments (88,562 ) (95,675 ) Curtailment of plans (74,459 ) (80,470 ) Net transfers from (to) related parties (4,217 ) (5,349 ) Others 58 51 Closing defined benefit obligations W 1,595,423 1,481,339 Weighted average remaining maturity of defined benefit obligations as of December 31, 2018 and 2019 are 14.4 years and 15.1 years, respectively. (c) Changes in fair value of plan assets for the years ended December 31, 2018 and 2019 are as follows: (In millions of won) 2018 2019 Opening fair value of plan assets W 1,466,977 1,550,063 Expected return on plan assets 48,184 41,826 Remeasurements (before tax) (22,195 ) (8,824 ) Contributions by employer directly to plan assets 212,224 186,641 Benefit payments (80,690 ) (82,266 ) Net transfers from (to) related parties — 280 Curtailment of plans (74,437 ) (80,467 ) Closing fair value of plan assets W 1,550,063 1,607,253 (d) Plan assets at the reporting date are as follows: (In millions of won) December 31, 2018 December 31, 2019 Guaranteed deposits in banks W 1,550,063 1,607,253 As of December 31, 2019, the Group maintains the plan assets primarily with Mirae Asset Daewoo Co., Ltd., KB Insurance Co., Ltd. and others. (e) Expenses recognized in profit or loss for the years ended December 31, 2017, 2018 and 2019 are as follows: (In millions of won) 2017 2018 2019 Current service cost W 195,850 204,668 194,469 Past service cost — (25,749 ) (32,006 ) Net interest cost 2,391 961 534 W 198,241 179,880 162,997 Expenses are recognized in the following line items in the consolidated statements of comprehensive income (loss): (In millions of won) 2017 2018 2019 Cost of sales W 158,418 134,879 119,147 Selling expenses 11,114 11,045 10,600 Administrative expenses 16,287 19,472 18,360 Research and development expenses 12,422 14,484 14,890 W 198,241 179,880 162,997 (f) Remeasurements of net defined benefit liabilities (assets) included in other comprehensive income (loss) for the years ended December 31, 2017, 2018 and 2019 are as follows: (In millions of won) 2017 2018 2019 Balance at January 1 W (163,950 ) (170,510 ) (165,969 ) Remeasurements Actuarial profit or loss arising from: Experience adjustment (48,890 ) 56,225 43,644 Demographic assumptions (7,702 ) (15,379 ) (19,952 ) Financial assumptions 56,706 (12,961 ) 113,772 Return on plan assets (16,374 ) (22,195 ) (8,824 ) Group’s share of associates regarding remeasurements 441 20 238 W (15,819 ) 5,710 128,878 Income tax W 9,259 (1,169 ) (35,235 ) Balance at December 31 W (170,510 ) (165,969 ) (72,326 ) (g) Principal actuarial assumptions at the reporting date (expressed as weighted averages) are as follows: 2018 2019 Expected rate of salary increase 4.3 % 3.4 % Discount rate for defined benefit obligations 2.8 % 2.4 % 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, December 31, Teens Males 0.01 % 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 0.01 % 0.00 % Forties Males 0.03 % 0.02 % Females 0.02 % 0.01 % Fifties Males 0.05 % 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, 2019: (In millions of won) Defined benefit obligation 1% increase 1% decrease Discount rate for defined benefit obligations W (194,432 ) 237,364 Expected rate of salary increase 233,106 (194,965 ) |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Provisions | 13. Provisions (a) Changes in provisions for the year ended December 31, 2018 are as follows: (In millions of won) Litigations and claims Warranties(*) Others Total Balance at January 1, 2018 W 43 102,450 1,835 104,328 Adjustment from adoption of IFRS 15 — — 9,789 9,789 Additions (reversals) — 234,928 (2,694 ) 232,234 Usage (43 ) (215,290 ) — (215,333 ) Balance at December 31, 2018 W — 122,088 8,930 131,018 Current W — 89,324 8,930 98,254 Non-current W — 32,764 — 32,764 (b) Changes in provisions for the year ended December 31, 2019 are as follows: (In millions of won) Litigations Warranties (*) Others Total Balance at January 1, 2019 W — 122,088 8,930 131,018 Additions 3,073 418,942 17,451 439,466 Usage (3,073 ) (310,768 ) — (313,841 ) Balance at December 31, 2019 W — 230,262 26,381 256,643 Current W — 163,144 26,381 189,525 Non-current W — 67,118 — 67,118 (*) The provision for warranties on defective products is normally applicable for 18~36 months from the date of 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. |
Other Liabilities
Other Liabilities | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Other Liabilities | 14. Other Liabilities Other liabilities at the reporting date are as follows: (In millions of won) December 31, 2018 December 31, 2019 Current liabilities Withholdings W 30,970 28,376 Unearned revenues 43,841 44,333 Security deposits 165 9,310 W 74,976 82,019 Non-current Long-term accrued expenses W 80,817 78,537 Long-term other accounts payable 3,103 1,069 Long-term advances received 2,116 6,852 Security deposits 10,790 1,690 W 96,826 88,148 |
Contingent Liabilities and Comm
Contingent Liabilities and Commitments | 12 Months Ended |
Dec. 31, 2019 | |
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Contingent Liabilities and Commitments | 15. Contingent Liabilities and Commitments (a) Legal Proceedings Anti-trust litigations Some individual claimants filed “follow-on” TFT-LCD Solas OLED Ltd. Litigations In April 2019, Solas OLED Ltd. filed patent infringement actions against the Controlling Company and television manufacturers in the United States District Court for the Western District of Texas as well as the Controlling Company and its subsidiary, LG Display Germany GmbH, and television manufactures in Mannheim District Court in Germany. As of December 31, 2019, 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 disputes in addition to pending proceedings described above. The Group cannot reliably estimate the timing and amount of outflows of resources embodying economic benefits relating to the disputes. (b) Commitments Factoring and securitization of accounts receivable The 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 1,360 million ( W The Controlling Company and overseas subsidiaries entered into 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 KRW) Classification Financial institutions Credit limit Not yet due Contractual KRW Contractual KRW Controlling Company Shinhan Bank KRW USD 90,000 25 90,000 28,945 — — — — Sumitomo Mitsui Banking Corporation USD 20 23,156 — — Bank of Tokyo-Mitsubishi UFJ KRW 130,000 130,000 — — USD 70 81,046 USD 4 4,640 BNP Paribas USD 125 144,725 USD 18 20,888 ING Bank USD 150 173,670 — — USD 390 USD 22 KRW 220,000 671,542 — 25,528 Subsidiaries LG Display Singapore Pte. Ltd. Standard Chartered Bank USD 300 347,340 — — LG Display Taiwan Co., Ltd. BNP Paribas USD 15 17,367 — — Australia and New Zealand Banking Group Ltd. USD 70 81,046 — — Taishin International Bank USD 280 324,184 USD 20 23,157 LG Display Germany GmbH Citibank USD 80 92,624 — — BNP Paribas USD 75 86,835 — — DZ Bank AG USD 4 4,229 USD 2 1,859 Commerzbank AG USD 3 4,030 USD 4 4,142 UniCredit Bank USD 23 26,099 USD 3 3,827 LG Display America, Inc. Hong Kong & Shanghai Banking Corp. USD 800 926,240 USD 749 867,424 Standard Chartered Bank USD 600 694,680 — — Sumitomo Mitsui Banking Corporation USD 200 231,560 — — USD 2,450 2,836,234 USD 778 900,409 USD 2,840 USD 800 KRW 220,000 3,507,776 — 925,937 In connection with all of the contracts in the above table, the Group has sold its accounts receivable without recourse. Letters of credit As of December 31, 2019, the Controlling Company has agreements in relation to the opening of letters of credit up to USD 150 million ( W W W W Payment guarantees The Controlling Company obtained payment guarantees amounting to USD 1,075 million ( W . W LG Display (China) Co., Ltd. and others are provided with payment guarantees from the China Construction Bank and other various banks amounting to CNY 778 million ( W W W W W License agreements As of December 31, 2019, the Group has technical license agreements with Hitachi Display, Ltd. and others in relation to its LCD business and patent cross license agreement with Universal Display Corporation in relation to its OLED business. Also, the Group has a trademark license agreement with LG Corp. as of December 31, 2019. Long-term supply agreement As of December 31, 2019, in connection with long-term W W n 5 |
Capital and Reserves
Capital and Reserves | 12 Months Ended |
Dec. 31, 2019 | |
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Capital and Reserves | 16. Capital and Reserves (a) Share capital The Controlling Company is authorized to issue 500,000,000 shares of capital stock (par value W (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 at the reporting date are as follows: (In millions of won) December 31, 2018 December 31, 2019 Foreign currency translation differences for foreign operations W (272,474 ) (178,452 ) Other comprehensive loss from associates (excluding remeasurements of net defined benefit liabilities) (28,494 ) (24,569 ) W (300,968 ) (203,021 ) The movement in reserves for the years ended December 31, 2017, 2018 and 2019 are as follows: (In millions of won) Foreign currency Other comprehensive income Total January 1, 2017 W (59,042 ) (29,436 ) (88,478 ) Change in reserves (200,707 ) 905 (199,802 ) December 31, 2017 (259,749 ) (28,531 ) (288,280 ) January 1, 2018 (259,749 ) (28,531 ) (288,280 ) Change in reserves (12,725 ) 37 (12,688 ) December 31, 2018 (272,474 ) (28,494 ) (300,968 ) January 1, 2019 (272,474 ) (28,494 ) (300,968 ) Change in reserves 94,022 3,925 97,947 December 31, 2019 (178,452 ) (24,569 ) (203,021 ) |
Geographic and Other Informatio
Geographic and Other Information | 12 Months Ended |
Dec. 31, 2019 | |
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Geographic and Other Information | 17. Geographic and Other Information The following is a summary of the Group’s revenue by region based on the location of customers for the years ended December 31, 2017, 2018 and 2019. (a) Revenue by geography (In millions of won) 2017 2018 2019 Domestic W 1,996,183 1,589,452 1,264,639 Foreign China 18,090,974 15,242,533 15,432,503 Asia (excluding China) 2,383,390 2,481,112 2,404,739 United States 2,724,714 2,462,918 1,940,321 Europe (excluding Poland) 1,433,126 1,496,138 1,475,942 Poland 1,161,829 1,064,418 957,423 25,794,033 22,747,119 22,210,928 W 27,790,216 24,336,571 23,475,567 Sales to Company A and Company B amount to W W W W W W end-brand (b) Non-current (In millions of won) December 31, 2018 December 31, 2019 Property, plant Intangible assets Property, plant Intangible assets Domestic W 14,984,688 816,808 12,764,240 708,047 Foreign China 5,049,216 12,332 7,391,279 34,337 Others 1,566,226 158,502 1,932,126 131,064 W 6,615,442 170,834 9,323,405 165,401 W 21,600,130 987,642 22,087,645 873,448 (c) Revenue by product and services (In millions of won) 2017 2018 2019 Televisions W 11,717,982 9,727,260 7,998,137 Desktop monitors 4,393,482 4,040,025 4,028,007 Tablet products 2,369,634 1,990,766 2,251,049 Notebook computers 2,244,088 2,836,888 2,783,718 Mobile and others 7,065,030 5,741,632 6,414,656 W 27,790,216 24,336,571 23,475,567 |
The Nature of Expenses and Othe
The Nature of Expenses and Others | 12 Months Ended |
Dec. 31, 2019 | |
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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, 2017, 2018 and 2019 are as follows: (In millions of won) 2017 2018 2019 Changes in inventories W (62,299 ) (341,120 ) 640,048 Purchases of raw materials, merchandise and others 13,548,848 12,863,812 12,580,796 Depreciation and amortization 3,214,576 3,554,565 3,695,051 Outsourcing 771,697 825,393 865,935 Labor 3,258,427 3,222,110 3,072,877 Supplies and others 1,239,915 1,010,352 813,262 Utility 865,347 899,075 896,112 Fees and commissions 692,125 722,134 695,245 Shipping 249,820 240,288 196,002 Advertising 236,440 112,400 193,436 Warranty 251,131 234,928 418,942 Travel 92,976 104,009 95,074 Taxes and dues 91,806 123,210 109,473 Impairment loss on property, plant, and equipment — 43,601 1,550,430 Impairment loss on intangible assets 1,809 82 249,450 Others 917,242 713,990 625,504 W 25,369,860 24,328,829 26,697,637 Total expenses consist of cost of sales, selling, administrative, research and development expenses and other expenses, excluding foreign exchange differences. |
Selling and Administrative Expe
Selling and Administrative Expenses | 12 Months Ended |
Dec. 31, 2019 | |
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Selling and Administrative Expenses | 19. Selling and Administrative Expenses Details of selling and administrative expenses for the years ended December 31, 2017, 2018, and 2019 are as follows: (In millions of won) 2017 2018 2019 Salaries(*1) W 327,288 500,610 514,736 Expenses related to defined benefit plans(*2) 27,401 30,724 29,018 Other employee benefits 94,740 90,348 77,690 Shipping 214,866 200,434 162,509 Fees and commissions 197,070 221,050 219,784 Depreciation 138,711 174,575 225,909 Taxes and dues 46,317 65,621 49,826 Advertising 236,440 112,400 193,436 Warranty 251,131 234,928 418,942 Rent 26,711 26,691 2,887 Insurance 12,459 11,584 11,386 Travel 27,879 24,659 23,594 Training 16,311 13,309 12,215 Others 73,181 65,343 63,799 W 1,690,505 1,772,276 2,005,731 (*1) Expenses recognized in relation to employee termination benefits for the years ended December 31, 2018 and 2019 amount to W W (*2) Expenses recognized in relation to employee defined contribution plan for the years ended December 31, 2018 and 2019 amount to W W |
Personnel Expenses
Personnel Expenses | 12 Months Ended |
Dec. 31, 2019 | |
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Personnel Expenses | 20. Personnel Expenses Details of personnel expenses for the years ended December 31, 2017, 2018 and 2019 are as follows: (In millions of won) 2017 2018 2019 Salaries and wages W 2,704,217 2,720,014 2,553,485 Other employee benefits 483,704 500,169 473,916 Contributions to National Pension plan 73,061 75,668 73,148 Expenses related to defined benefit plan and defined contribution plan(*) 198,241 180,737 163,757 W 3,459,223 3,476,588 3,264,306 (*) Expenses recognized in relation to employee defined contribution plan for the years ended December 31, 2018 and 2019 amount to W W |
Other Income and Other Expenses
Other Income and Other Expenses | 12 Months Ended |
Dec. 31, 2019 | |
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Other Income and Other Expenses | 21. Other Income and Other Expenses (a) Details of other income for the years ended December 31, 2017, 2018 and 2019 are as follows: (In millions of won) 2017 2018 2019 Foreign currency gain W 969,425 970,306 1,174,376 Gain on disposal of property, plant and equipment 101,227 6,620 35,788 Gain on disposal of intangible assets 308 239 552 Reversal of impairment loss on intangible assets 35 348 960 Rental income 2,212 3,584 3,098 Gain on disposal of non-current — — 8,353 Others 8,539 23,040 44,124 W 1,081,746 1,004,137 1,267,251 (b) Details of other expenses for the years ended December 31, 2017, 2018 and 2019 are as follows: (In millions of won) 2017 2018 2019 Foreign currency loss W 1,189,193 1,030,084 1,235,054 Other bad debt expenses 1,798 4 1,379 Loss on disposal of property, plant and equipment 20,030 15,048 40,897 Impairment loss on property, plant and equipment — 43,601 1,550,430 Loss on disposal of intangible assets 30 — 139 Impairment loss on intangible assets 1,809 82 249,450 Donations 17,152 7,698 693 Others 443 18,716 19,701 W 1,230,455 1,115,233 3,097,743 |
Finance Income and Finance Cost
Finance Income and Finance Costs | 12 Months Ended |
Dec. 31, 2019 | |
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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, 2017, 2018 and 2019 are as follows: (In millions of won) 2017 2018 2019 Finance income Interest income W 60,106 69,020 53,378 Foreign currency gain 210,890 160,989 135,006 Gain on disposal of investments in equity accounted investees 3,669 — 4,531 Reversal of impairment loss of investments in equity accounted investees — 802 1,744 Gain on transaction of derivatives 3,106 2,075 21,752 Gain on valuation of derivatives 1,070 13,059 59,781 Gain on disposal of available-for-sale 8 — — Gain on disposal of financial asset at fair value through profit or loss — — 138 Gain on valuation of financial asset at fair value through profit or loss 170 8,186 402 W 279,019 254,131 276,732 Finance costs Interest expense W 90,538 80,517 172,750 Foreign currency loss 126,642 184,309 154,421 Loss on disposal of investments in equity accounted investees 42,112 595 — Loss on impairment of investments in equity accounted investees 4,234 17,397 5,123 Loss on sale of trade accounts and notes receivable 784 13,361 19,728 Loss on transaction of derivatives 514 49 — Loss on valuation of derivatives — 26,600 17,999 Loss on impairment of available-for-sale 1,948 — — Loss on valuation of financial asset at fair value through profit or loss — 225 4,630 Loss on valuation of financial liabilities at fair value through profit or loss — — 56,384 Others 2,084 3,840 12,212 W 268,856 326,893 443,247 (b) Finance income and costs recognized in other comprehensive income or loss for the years ended December 31, 2017, 2018 and 2019 are as follows: (In millions of won) 2017 2018 2019 Foreign currency translation differences for foreign operations W (231,738 ) (19,987 ) 106,690 Finance income (costs) recognized in other comprehensive income (loss) after tax W (231,738 ) (19,987 ) 106,690 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
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Income Taxes | 23. Income Taxes (a) Details of income tax expense (benefit) for the years ended December 31, 2017, 2018 and 2019 are as follows: (In millions of won) 2017 2018 2019 Current tax expense Current year W 512,123 167,394 193,691 Adjustment for prior years — 82,225 (35,787 ) W 512,123 249,619 157,904 Deferred tax expense (benefit) Origination and reversal of temporary differences W (104,835 ) (226,360 ) (963,385 ) Change in unrecognized deferred tax assets (11,708 ) 64,818 333,317 W (116,543 ) (161,542 ) (630,068 ) Income tax expense (benefit) W 395,580 88,077 (472,164 ) (b) Income taxes recognized directly in other comprehensive income or loss for the years ended December 31, 2017, 2018, and 2019 are as follows: (In millions of won) 2017 Before tax Tax benefit Net of tax Remeasurements of net defined benefit liabilities (assets) W (16,260 ) 9,259 (7,001 ) Foreign currency translation differences for foreign operations (231,738 ) — (231,738 ) Change in equity of equity method investee 1,346 — 1,346 W (246,652 ) 9,259 (237,393 ) (In millions of won) 2018 Before tax Tax expense Net of tax Remeasurements of net defined benefit liabilities (assets) W 5,690 (1,169 ) 4,521 Foreign currency translation differences for foreign operations (19,987 ) — (19,987 ) Change in equity of equity method investee 57 — 57 W (14,240 ) (1,169 ) (15,409 ) (In millions of won) 2019 Before tax Tax expense Net of tax Remeasurements of net defined benefit liabilities (assets) W 128,640 (35,235 ) 93,405 Foreign currency translation differences for foreign operations 106,690 — 106,690 Change in equity of equity method investee 4,163 — 4,163 W 239,493 (35,235 ) 204,258 (c) Reconciliation of the actual effective tax rate for the years ended December 31, 2017, 2018, and 2019 is as follows: (In millions of won) 2017 2018 2019 Profit (loss) before income taxes W 2,332,632 (91,366 ) (3,344,242 ) Income tax expense ( benefit 28.54 % 665,733 (33.60 %) 30,695 23.94 % (800,660 ) Non-deductible 2.72 % 63,416 (40.07 %) 36,608 (0.95 %) 31,649 Tax credits (10.64 %) (248,191 ) 117.27 % (107,146 ) 1.47 % (49,269 ) Change in unrecognized deferred tax assets (0.50 %) (11,708 ) (70.94 %) 64,818 (9.97 %) 333,318 Adjustment for prior years(*1) — — (90.00 %) 82,225 1.07 % (35,787 ) Effect on change in tax rate (3.10 %) (72,376 ) 15.68 % (14,326 ) (0.40 %) 13,353 Others (0.06 %) (1,294 ) 5.25 % (4,797 ) (1.05 %) 35,232 Actual income tax expense (benefit) W 395,580 88,077 (472,164 ) Actual effective tax rate 16.96 % (*2 ) (*2 ) (*1) Consist of changes in tax credits in amended tax returns and expected amount of income tax adjustment in relation to the transfer price investigation and others (*2) Actual effective tax rate are not calculated due to loss before income tax for 2018 and 2019. (d) Tax uncertainties In June 2019, LG Display Guangzhou Co., Ltd, LG Display Yantai Co., Ltd. and LG Display Nanjing Co., Ltd., subsidiaries of the Controlling Company, were imposed of additional taxes amounting to W OECD Guidelines, the Korea-China tax treaty, and the domestic tax laws of both countries stipulate mutual agreements to resolve double taxation. In July 2019, the Controlling Company registered an application form to initiate a mutual agreement on the estimated amount of W Meanwhile, the Controlling Company expects that the mutual agreement between tax authorities will be processed and be resolved within a reasonable period and the Controlling Company recognized the estimated income tax refund as current tax asset as of December 31, 2019. |
Deferred Tax Assets and Liabili
Deferred Tax Assets and Liabilities | 12 Months Ended |
Dec. 31, 2019 | |
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Deferred Tax Assets and Liabilities | 24. Deferred Tax Assets and Liabilities (a) Unrecognized deferred tax liabilities As of December 31, 2019, in relation to the taxable temporary differences on investments in subsidiaries amounting to W (b) Unused tax credit carryforwards for which no deferred tax asset is recognized Realization of deferred tax assets related to tax credit carryforwards which are primarily related to Korea is dependent on whether sufficient taxable income will be generated prior to their expiration. As of December 31, 2019, 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, December 31, December 31, December 31, December 31, Tax credit carryforwards W 549,056 44,692 70,646 220,135 114,845 98,738 (c) Deferred tax assets and liabilities are attributable to the following: (In millions of won) Assets Liabilities Total December 31, December 31, December 31, December 31, December 31, December 31, Other accounts receivable, net W — — (1,013 ) (4,364 ) (1,013 ) (4,364 ) Inventories, net 60,606 89,522 — — 60,606 89,522 Investments in subsidiaries and associates 13,404 — — (20,015 ) 13,404 (20,015 ) Accrued expenses 126,072 131,196 — — 126,072 131,196 Property, plant and equipment 445,721 691,599 (1,495 ) (21,690 ) 444,226 669,909 Intangible assets 3,468 21,886 (14,588 ) (10,759 ) (11,120 ) 11,127 Provisions 32,468 59,875 — (4,446 ) 32,468 55,429 Gain or loss on foreign currency translation, net 13 — — — 13 — Others 20,850 137,667 (7,665 ) (328 ) 13,185 137,339 Tax loss carryforwards 134,845 607,432 — — 134,845 607,432 Tax credit carryforwards 308,393 38,337 — — 308,393 38,337 Deferred tax assets (liabilities) W 1,145,840 1,777,514 (24,761 ) (61,602 ) 1,121,079 1,715,912 (d) Changes in deferred tax assets and liabilities for the years ended December 31, 2018 and 2019 are as follows: (In millions of won) January 1, Profit or Other December 31, Profit or Other December 31, Other accounts receivable, net W (1,441 ) 428 — (1,013 ) (3,351 ) — (4,364 ) Inventories, net 34,550 26,056 — 60,606 28,916 — 89,522 Defined benefit liabilities, net 2,375 (1,206 ) (1,169 ) — 35,235 (35,235 ) — Subsidiaries and associates 29,061 (15,657 ) — 13,404 (33,419 ) — (20,015 ) Accrued expenses 183,903 (57,831 ) — 126,072 5,124 — 131,196 Property, plant and equipment 409,928 34,298 — 444,226 225,683 — 669,909 Intangible assets (21,189 ) 10,069 — (11,120 ) 22,247 — 11,127 Provisions 27,018 5,450 — 32,468 22,961 — 55,429 Gain or loss on foreign currency translation, net 13 — — 13 (13 ) — — Others 27,562 (14,377 ) — 13,185 124,154 — 137,339 Tax loss carryforwards — 134,845 — 134,845 472,587 — 607,432 Tax credit carryforwards 268,926 39,467 — 308,393 (270,056 ) — 38,337 Deferred tax assets (liabilities) W 960,706 161,542 (1,169 ) 1,121,079 630,068 (35,235 ) 1,715,912 |
Earnings (Loss) Per Share Attri
Earnings (Loss) Per Share Attributable to Owners of the Controlling Company | 12 Months Ended |
Dec. 31, 2019 | |
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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, 2017, 2018 and 2019 are as follows: (In won and No. of shares) 2017 2018 2019 Profit (loss) attributable to owners of the Controlling Company W 1,802,756,119,275 (207,239,484,774 ) (2,829,705,069,665 ) Weighted-average number of common stocks outstanding 357,815,700 357,815,700 357,815,700 Earnings (loss) per share W 5,038 (579 ) (7,908 ) For the years ended December 31, 2017, 2018 and 2019, there were no events or transactions that resulted in changes in the number of common stocks used for calculating earnings (loss) per share. (b) The Controlling Company issued the convertible bonds on August 22, 2019. Diluted loss per share is not different from basic loss per share due to loss for the year ended December 31, 2019. As of December 31, 2019, 40,988,998 shares of potential common stock were excluded from the calculation of weighted-average number of common stocks due to antidilution. |
Financial Risk Management
Financial Risk Management | 12 Months Ended |
Dec. 31, 2019 | |
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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 denominated 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. In respect of other monetary assets and liabilities denominated in foreign currencies, the Group adopts policies to ensure that its net exposure is kept to an acceptable level by buying or selling foreign currencies at spot rates when necessary to address short-term imbalances. Meanwhile, the Group entered into currency interest rate swap contracts to hedge currency risk with respect to foreign currency borrowings and bonds. i) Exposure to currency risk The Group’s exposure to foreign currency risk based on notional amounts at the reporting date is as follows: (In millions) December 31, 2018 USD JPY CNY TWD EUR PLN VND Cash and cash equivalents 790 83 5,515 121 8 206 2,070,889 Trade accounts and notes receivable 2,175 7 1,098 — — — — Non-trade 21 852 201 3 4 — 23,182 Other assets denominated in foreign currencies 33 220 11,157 108 12 23 2,782 Trade accounts and notes payable (863 ) (12,501 ) (2,862 ) — — — (355,390 ) Other accounts payable (928 ) (20,326 ) (4,762 ) (6 ) (3 ) (4 ) (1,585,130 ) Financial liabilities (2,571 ) — (5,198 ) — — — — Aggregate notional amounts in the consolidated statements of financial position (1,343 ) (31,665 ) 5,149 226 21 225 156,333 Currency swap contracts 780 — — — — — — Net exposure (563 ) (31,665 ) 5,149 226 21 225 156,333 (In millions) December 31, 2019 USD JPY CNY TWD EUR PLN VND Cash and cash equivalents 1,594 68 8,360 33 5 25 28,663 Trade accounts and notes receivable 2,485 19 550 — — — — Non-trade 276 455 230 3 2 — 13,131 Other assets denominated in foreign currencies 29 526 5,668 369 5 503 4,032 Trade accounts and notes payable (628 ) (9,043 ) (2,289 ) — — — (291,891 ) Other accounts payable (488 ) (12,396 ) (3,239 ) (4 ) (10 ) — (786,356 ) Financial liabilities (4,255 ) — (20,436 ) — — — — Aggregate notional amounts in the consolidated statements of financial position (987 ) (20,371 ) (11,156 ) 401 2 528 (1,032,421 ) Currency swap contracts 2,085 — — — — — — Net exposure 1,098 (20,371 ) (11,156 ) 401 2 528 (1,032,421 ) Average exchange rates applied for the years ended December 31, 2017, 2018 and 2019 and the exchange rates at December 31, 2018 and 2019 are as follows: (In won) Average rate Reporting date spot rate 2017 2018 2019 December 31, December 31, USD W 1,131.08 1,100.21 1,165.46 1,118.10 1,157.80 JPY 10.09 9.96 10.70 10.13 10.63 CNY 167.52 166.41 168.56 162.76 165.74 TWD 37.16 36.51 37.74 36.58 38.48 EUR 1,277.01 1,298.53 1,304.52 1,279.16 1,297.43 PLN 299.98 304.87 303.62 297.33 304.87 VND 0.0498 0.0478 0.0502 0.0482 0.0500 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, 2018 and 2019, 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 as of 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, 2018 December 31, 2019 Equity Profit or loss Equity Profit or loss USD (5 percent weakening) W (46,136 ) 38,725 23,570 105,398 JPY (5 percent weakening) (12,060 ) (10,497 ) (8,397 ) (6,418 ) CNY (5 percent weakening) 41,779 318 (92,454 ) 11 TWD (5 percent weakening) 413 1 772 — EUR (5 percent weakening) 1,197 390 221 (278 ) PLN (5 percent weakening) 3,451 (236 ) 8,036 28 VND (5 percent weakening) 273 273 (1,871 ) (1,871 ) A stronger won against the above currencies as of December 31, 2018 and 2019 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. (ii) Interest Rate Risk Interest rate risk arises principally from the Group’s bonds and borrowings. The Group establishes and applies its policy to reduce uncertainty arising from fluctuations of interest rates and to minimize finance cost and manages interest rate risk by monitoring of trends of fluctuations in interest rates and establishing plan for countermeasures. Meanwhile, the Group entered into currency interest rate swap contracts amount of USD 1,785 million ( W i) Profile The interest rate profile of the Group’s interest-bearing financial instruments at the reporting date is as follows: (In millions of won) December 31, 2018 December 31, 2019 Fixed rate instruments Financial assets W 2,443,583 3,414,838 Financial liabilities (5,033,515 ) (6,066,554 ) W (2,589,932 ) (2,651,716 ) Variable rate instruments Financial liabilities W (3,525,262 ) (7,414,336 ) ii) Equity and profit or loss sensitivity analysis for variable rate instruments For the years ended December 31, 2018 and 2019 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 years. This analysis assumes that all other variables, in particular foreign currency rates, remain constant. (In millions of won) Equity Profit or loss 1%p increase 1%p decrease 1%p increase 1%p decrease December 31, 2018 Variable rate instruments(*) W (25,558 ) 25,558 (25,558 ) 25,558 December 31, 2019 Variable rate instruments(*) W (38,774 ) 38,774 (38,774 ) 38,774 (*) Financial instruments related to interest rate swap not qualified for hedging are excluded. (b) Credit risk Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Group’s receivables from customers. The Group’s exposure to credit risk of trade and other receivables is influenced mainly by the individual characteristics of each customer. However, management believes that the default risk of the country in which each customer operates, do not have a significant influence on credit risk since the majority of the customers are global electronic appliance manufacturers operating in global markets The Group establishes credit limits for each customer and each new customer is analyzed quantitatively and qualitatively before determining whether to utilize third party guarantees, insurance or factoring as appropriate. In relation to the impairment of financial assets subsequent to initial recognition, the Group recognizes the changes in expected credit loss (“ECL”) at each reporting date in order to reflect changes in the credit risks based on ECL model. The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk as of December 31, 2018 and 2019 are as follows: (In millions of won) December 31, 2018 December 31, 2019 Financial assets carried at amortized cost Cash and cash equivalents W 2,365,022 3,336,003 Deposits in banks 78,411 78,768 Trade accounts and notes receivable, net 2,829,163 3,154,080 Non-trade 159,238 463,614 Accrued income 10,075 10,434 Deposits 91,123 31,036 Short-term loans 16,116 21,623 Long-term 55,048 40,827 Long-term non-trade 11,448 9,072 Lease receivables — 27,794 W 5,615,644 7,173,251 Financial assets at fair value through profit or loss Convertible bonds W 1,327 1,544 Derivatives 13,059 49,676 W 14,386 51,220 Financial assets at fair value through other comprehensive income Debt instruments W 161 76 W 5,630,191 7,224,547 Trade accounts and notes receivables are insured in order to manage credit risk if it does not meet the Group’s internal credit ratings. Uninsured trade accounts and notes receivables are managed by continuous monitoring of internal credit ratings and seeking insurance coverage, if necessary. (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 another financial asset. 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 securities, equity-linked and other debt securities. 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, 2019. (In millions of won) Contractual cash flows in Carrying Total 6 months 6-12 1-2 2-5 More than Non-derivative Borrowings W 10,329,671 11,514,568 1,174,941 723,363 2,173,444 6,471,876 970,944 Bonds 3,151,218 3,306,729 297,649 184,878 908,281 1,780,014 135,907 Trade accounts and notes payable 2,618,261 2,618,261 2,618,261 — — — — Other accounts payable 2,069,105 2,069,105 2,068,039 1,066 — — — Other accounts payable (enterprise procurement cards)(*) 2,328,016 2,353,355 1,287,023 1,066,332 — — — Long-term other accounts payable 1,069 1,069 — — 1,069 — — Security deposits received 11,000 11,000 3,980 5,330 1,690 — — Lease liabilities 88,512 97,562 26,702 14,543 22,931 23,096 10,290 Derivative financial liabilities Derivatives W 20,592 (13,101 ) — — (4,870 ) (8,231 ) — W 20,617,444 21,958,548 7,476,595 1,995,512 3,102,545 8,266,755 1,117,141 (*) Represents the amount of utility expenses and others paid by the enterprise procurement cards and the outstanding payables are settled at the end of the billing cycle. The payments to the card company arises from operating activities of purchasing of goods and services thus the related cash flow is disclosed as operating activities. 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, 2018 December 31, 2019 Total liabilities W 18,289,464 23,086,282 Total equity 14,886,246 12,488,281 Cash and deposits in banks(*1) 2,443,422 3,414,760 Borrowings (including bonds) 8,558,777 13,480,889 Total liabilities to equity ratio 123 % 185 % Net borrowings to equity ratio(*2) 41 % 81 % (*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) less cash and current deposits in banks by total equity. (e) Determination of fair value (i) Measurement of fair value A number of the Group’s accounting policies and disclosures require the determination of fair value, for both financial and non-financial 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 at FVOCI is determined by reference to their quoted closing bid price at the reporting date. The fair value of non-marketable iv) Non-derivative 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. (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, 2018 and 2019 are as follows: (In millions of won) December 31, 2018 December 31, 2019 Carrying Fair values Carrying Fair values Financial assets carried at amortized cost Cash and cash equivalents W 2,365,022 (*) 3,336,003 (*) Deposits in banks 78,411 (*) 78,768 (*) Trade accounts and notes receivable 2,829,163 (*) 3,154,080 (*) Non-trade 159,238 (*) 463,614 (*) Accrued income 10,075 (*) 10,434 (*) Deposits 91,123 (*) 31,036 (*) Short-term loans 16,116 (*) 21,623 (*) Long-term 55,048 (*) 40,827 (*) Long-term non-trade 11,448 (*) 9,072 (*) Lease receivables — — 27,794 (*) Financial assets at fair value through profit or loss Equity instruments W 13,681 13,681 9,879 9,879 Convertible bonds 1,327 1,327 1,544 1,544 Derivatives 13,059 13,059 49,676 49,676 Financial assets at fair value through other comprehensive income Debt instruments W 161 161 76 76 Financial liabilities at fair value through profit or loss Derivatives W 25,758 25,758 20,592 20,592 Convertible bonds — — 858,385 858,385 Financial liabilities carried at amortized cost Borrowings W 6,226,520 6,281,996 10,329,671 10,394,498 Bonds 2,332,257 2,384,987 2,292,833 2,345,867 Trade accounts and notes payable 3,087,461 (*) 2,618,261 (*) Other accounts payable 3,566,629 (*) 4,397,121 (*) Long-term other accounts payable 3,103 (*) 1,069 (*) Security deposits received 10,955 (*) 11,000 (*) Lease liabilities — — 88,512 (*) (*) Excluded from disclosures as the carrying amount approximates fair value. (iii) Fair values of financial assets and liabilities i) Fair value hierarchy The table below analyzes financial instruments carried at fair value based on the input variables used in the valuation method to measure fair value of assets and liabilities. 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) Financial instruments measured at fair value Fair value hierarchy classifications of the financial instruments that are measured at fair value as of December 31, 2018 and 2019 are as follows: (In millions of won) Level 1 Level 2 Level 3 Total December 31, 2018 Financial assets at fair value through profit or loss Equity instruments W — — 13,681 13,681 Convertible bonds — — 1,327 1,327 Derivatives — — 13,059 13,059 Financial asset at fair value through other comprehensive income Debt instruments W 161 — — 161 Financial liabilities at fair value through profit or loss Derivatives W — — 25,758 25,758 (In millions of won) Level 1 Level 2 Level 3 Total December 31, 2019 Financial assets at fair value through profit or loss Equity instruments W — — 9,879 9,879 Convertible bonds — — 1,544 1,544 Derivatives — — 49,676 49,676 Financial asset at fair value through other comprehensive income Debt instruments W 76 — — 76 Financial liabilities at fair value through profit or loss Derivatives W — — 20,592 20,592 Convertible bonds 858,385 — — 858,385 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, 2018 and December 31, 2019 are as follows: (In millions of won) December 31, 2018 Valuation Input Classification Level 1 Level 2 Level 3 Liabilities Borrowings W — — 6,281,996 Discounted cash Discount Bonds — — 2,384,987 Discounted cash Discount (In millions of won) December 31, 2019 Valuation Input Classification Level 1 Level 2 Level 3 Liabilities Borrowings W — — 10,394,498 Discounted cash Discount Bonds — — 2,345,867 Discounted cash Discount The interest rates applied for determination of the above fair value at the reporting date are as follows: December 31, 2018 December 31, 2019 Borrowings, bonds and others 2.09~3.37 % 1.87~3.56 % |
Leases
Leases | 12 Months Ended |
Dec. 31, 2019 | |
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 Right-of-use (In millions of won) Buildings Land Machinery and Vehicles Others Total Balance at January 1, 2019 W 75,777 53,960 1,111 10,800 392 142,040 Addition 19,743 1,890 2,882 4,971 247 29,733 Depreciation (39,376 ) (2,272 ) (1,305 ) (7,760 ) (350 ) (51,063 ) Derecognition of right-of-use (3,056 ) — (538 ) — — (3,594 ) Impairment (248 ) (3,833 ) (20 ) (193 ) (8 ) (4,302 ) Gain or loss on foreign currency translation 373 9 17 30 7 436 Balance at December 31, 2019 W 53,213 49,754 2,147 7,848 288 113,250 (ii) Amounts recognized in profit or loss other than right-of-use (In millions of won) December 31, 2019 Interest on lease liabilities W (4,085 ) Income from sub-leasing right-of-use 1,079 Expenses relating to short-term leases (1,783 ) Expenses relating to leases of low-value low-value (1,188 ) (iii) Lease liabilities (In millions of won) December 31, 2019 Balance at January 1, 2019 W 115,119 Additions 33,878 Interest expense 4,085 Repayment of liabilities (64,570 ) Balance at December 31, 2019 88,512 (b) Leases as lessor During 2019, the Group sub-leased W right-of-use The Group recognized interest income on lease receivables of W in The following table sets out a maturity analysis of lease receivables, showing the undiscounted lease payments to be received after the reporting date. Under IAS 17, the Group did not have any finance leases as a lessor. (In millions of won) December 31, 2019 6 months or less W 3,282 6-12 3,282 1-2 6,563 2-5 16,956 Total undiscounted lease receivable 30,083 Unearned finance income (2,289 ) Net Investment in the lease 27,794 |
Changes in liabilities arising
Changes in liabilities arising from financing activities | 12 Months Ended |
Dec. 31, 2019 | |
Text block [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 year ended December 31, 2019 are as follows: (In millions of won) January 1, Non-cash Cash flows Reclassification Gain or loss on Effective Others December 31, 2019 Short-term borrowings W — 686,097 — 10,696 — — 696,793 Current portion of long-term borrowings and bonds 1,553,907 (1,567,818 ) 1,237,344 18,887 584 — 1,242,904 Long-term borrowings 5,232,271 4,341,087 (827,883 ) 54,202 — — 8,799,677 Bonds 1,772,599 1,323,251 (409,461 ) (20,351 ) 10,568 64,910 2,741,516 Lease liabilities 115,119 (64,570 ) — 1,849 4,085 32,029 88,512 W 8,673,896 4,718,047 — 65,283 15,237 96,939 13,569,402 |
Related Parties and Others
Related Parties and Others | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Related Parties and Others | 29. Related Parties and Others (a) Related parties Related parties as of December 31, 2019 are as follows: Classification Description Associates(*) Paju Electric Glass Co., Ltd. and others Entity that has significant influence over the Controlling Company LG Electronics Inc. Subsidiaries of the entity that has significant influence over the Controlling Company Subsidiaries of LG Electronics Inc. (*) Details of associates are described in note 8. (b) Significant transactions such as sales of goods and purchases of raw material and outsourcing service and others, which occurred in the normal course of business with related parties for the years ended December 31, 2017, 2018 and 2019 are as follows: (In millions of won) 2017 Sales and others Purchase and others Dividend Purchase of Acquisition of Outsourcing Other Associates and their subsidiaries New Optics Ltd.(*) W 1 — — — 4 6 INVENIA Co., Ltd. — — 1,862 66,548 — 2,259 AVATEC Co., Ltd. — 530 — — 90,785 720 Paju Electric Glass Co., Ltd. — 8,109 380,815 — — 4,225 Shinbo Electric Co., Ltd.(*) 15,812 — — — — 21 Narenanotech Corporation(*) — — 279 21,727 — 244 WooRee E&L Co., Ltd. — — — — — 175 YAS Co., Ltd. — — 6,347 69,243 — 2,474 W 15,813 8,639 389,303 157,518 90,789 10,124 Entity that has significant influence over the Controlling Company LG Electronics Inc. W 1,689,381 — 47,898 906,427 — 109,865 Subsidiaries of the entity that has significant influence over the Controlling Company LG Electronics India Pvt. Ltd. W 71,597 — — — — 163 LG Electronics Vietnam Haiphong Co., Ltd. 205,934 — — 8,892 — 198 LG Electronics Nanjing New Technology Co., Ltd. W 300,785 — — 245 — 379 LG Electronics RUS, LLC 103,479 — — — — 963 LG Electronics do Brasil Ltda. 228,821 — — — — 430 LG Innotek Co., Ltd. 14,836 — 199,896 — — 5,692 Qingdao LG Inspur Digital Communication Co., Ltd. 77,787 — — — — — Inspur LG Digital Mobile Communications Co., Ltd. 230,832 — — — — — LG Electronics Mexicalli, S.A. DE C.V. 319,772 — — — — 186 LG Electronics Mlawa Sp. z o.o. 847,565 — — — — 985 LG Electronics Taiwan Taipei Co., Ltd. 13,693 — — — — 164 LG Hitachi Water Solutions Co., Ltd. — — — 318,978 — 1,532 LG Electronics Reynosa, S.A. DE C.V. 1,287,340 — — — — 1,926 LG Electronics Almaty Kazakhstan 14,079 — — — — 53 LG Electronics Air-Conditioning — — 255 3,744 — 2,621 HiEntech Co., Ltd. — — — 6,991 — 34,432 Hientech (Tianjin) Co., Ltd. — — — 21,838 — 11,822 LG Electronics S.A. (Pty) Ltd. 14,155 — — — — 25 Others 857 — 3 14 — 7,264 W 3,731,532 — 200,154 360,702 — 68,835 W 5,436,726 8,639 637,355 1,424,647 90,789 188,824 (*) Represents transactions occurred prior to disposal of the entire investments. 2018 Purchase and others (In millions of won) Sales and others Dividend Purchase of Acquisition of Outsourcing Other costs Associates and their subsidiaries INVENIA Co., Ltd. — 30 1,608 58,111 — 896 AVATEC Co., Ltd. — 530 — — 71,403 905 Paju Electric Glass Co., Ltd. — 4,172 364,183 — — 4,411 WooRee E&L Co., Ltd. — — 58 — — 144 YAS Co., Ltd. — — 5,281 143,192 — 3,391 LB Gemini New Growth Fund No. 16(*) 1,112 540 — — — — W 1,112 5,272 371,130 201,303 71,403 9,747 Entity that has significant influence over the Controlling Company LG Electronics Inc. W 1,215,153 — 36,522 1,041,563 — 127,775 Subsidiaries of the entity that has significant influence over the Controlling Company LG Electronics India Pvt. Ltd. W 71,798 — — — — 103 LG Electronics Vietnam Haiphong Co., Ltd. 173,051 — — 4,541 — 166 LG Electronics Nanjing New Technology Co., Ltd. W 223,524 — — 424 — 1,528 LG Electronics RUS, LLC 106,631 — — — — 2,673 LG Electronics do Brasil Ltda. 192,775 — — — — 350 LG Innotek Co., Ltd. 29,267 — 147,453 — — 39,136 Qingdao LG Inspur Digital Communication Co., Ltd. 37,738 — — — — — Inspur LG Digital Mobile Communications Co., Ltd. 131,970 — — — — 1 LG Electronics Mexicalli, S.A. DE C.V. 187,844 — — — — 210 LG Electronics Mlawa Sp. z o.o. 740,784 — — — — 631 LG Electronics Taiwan Taipei Co., Ltd. 12,746 — — — — 330 LG Hitachi Water Solutions Co., Ltd. 9,100 — — 304,365 — 8,980 LG Electronics Reynosa, S.A. DE C.V. 1,030,414 — — — — 2,021 LG Electronics Almaty Kazakhstan 3,759 — — — — 42 LG Electronics Air-Conditioning — — 330 26,871 — 7,264 HiEntech Co., Ltd. — — — 22,378 — 29,215 Hientech (Tianjin) Co., Ltd. — — — 92,900 — 23,880 LG Electronics S.A. (Pty) Ltd. 7,244 — — — — 20 LG Electronics Egypt S.A.E. 25,491 — — — — 16 Others 5,195 — 28 15 — 11,480 W 2,989,331 — 147,811 451,494 — 128,046 W 4,205,596 5,272 555,463 1,694,360 71,403 265,568 (*) Represents transactions occurred prior to the Group’s disposal of the entire investments. 2019 Purchase and others (In millions of won) Sales and others Dividend Purchase of Acquisition of Outsourcing Other costs Associates and their subsidiaries INVENIA Co., Ltd.(*1) W — 180 1,024 45,580 — 297 AVATEC Co., Ltd. 2,639 265 — — 73,323 891 Paju Electric Glass Co., Ltd. — 6,057 342,958 — — 4,416 WooRee E&L Co., Ltd. — — 6,441 — — 5 YAS Co., Ltd. — 1,000 6,764 102,316 — 3,655 Material Science Co., Ltd. — — 59 — — 313 W 2,639 7,502 357,246 147,896 73,323 9,577 Entity that has significant influence over the Controlling Company LG Electronics Inc. W 947,409 — 13,240 815,629 — 153,212 Subsidiaries of the entity that has significant influence over the Controlling Company LG Electronics India Pvt. Ltd. W 87,116 — — — — 194 LG Electronics Vietnam Haiphong Co., Ltd. 277,743 — — 3,019 — 924 LG Electronics Nanjing New Technology Co., Ltd. 297,033 — — 31 — 486 LG Electronics RUS, LLC 100,894 — — — — 1,972 LG Electronics do Brasil Ltda. W 145,546 — — — — 289 LG Innotek Co., Ltd. 7,572 — 53,886 — — 79,162 Qingdao LG Inspur Digital Communication Co., Ltd. 22,563 — — — — — Inspur LG Digital Mobile Communications Co., Ltd. 41,858 — — — — — LG Electronics Mexicalli, S.A. DE C.V. 114,520 — — — — 85 LG Electronics Mlawa Sp. z o.o. 618,715 — — — — 1,967 LG Hitachi Water Solutions Co., Ltd.(*2) — — — 79,986 — — LG Electronics Reynosa, S.A. DE C.V. 722,194 — — — — 1,155 LG Electronics Air-Conditioning — — 444 14,527 — 88 HiEntech Co., Ltd.(*2) 47 — — 7,264 — 21,576 HiEntech (Tianjin) Co., Ltd.(*2) — — — 32,335 — 15,423 LG Electronics Egypt S.A.E. 97,359 — — — — 241 LG Electronics Alabama Inc. 12,869 — — — — — LG Electronics Japan, Inc. — — — 14 — 6,236 P.T. LG Electronics Indonesia 11,200 — — — — 176 Others 12,564 — — 33 — 6,996 W 2,569,793 — 54,330 137,209 — 136,970 W 3,519,841 7,502 424,816 1,100,734 73,323 299,759 (*1) Represents transactions occurred prior to the Group’s disposal of the entire investments (*2) Represents transactions occurred prior to LG Electronics Inc.’s disposal of the entire investments. (c) Trade accounts and notes receivable and payable as of December 31, 2018 and 2019 are as follows: Trade accounts and notes receivable and others Trade accounts and notes payable and others (In millions of won) December 31, 2018 December 31, 2019 December 31, 2018 December 31, 2019 Associates INVENIA Co., Ltd.(*) 2,000 — 30,179 — AVATEC Co., Ltd. — — 4,382 1,029 Paju Electric Glass Co., Ltd. — — 60,566 62,853 WooRee E&L Co., Ltd. — — 7 1,888 YAS Co., Ltd. — — 6,145 27,489 Material Science Co., Ltd. — — — 8 W 2,000 — 101,279 93,267 Entity that has significant influence over the Controlling Company LG Electronics Inc. W 247,679 209,939 430,677 157,713 Subsidiaries of the entity that has significant influence over the Controlling Company LG Electronics India Pvt. Ltd. W 9,047 6,113 29 — LG Electronics Vietnam Haiphong Co., Ltd. 25,544 47,740 — 75 LG Electronics Nanjing New Technology Co., Ltd. 43,463 55,343 139 49 LG Electronics RUS, LLC 22,570 17,600 90 83 LG Electronics do Brasil Ltda. 15,608 14,805 62 26 LG Innotek Co., Ltd. 2,885 267 47,382 36,426 LG Electronics Mexicali, S.A. DE C.V. W 15,305 11,195 — 17 ( In millions of won ) Trade accounts and notes receivable and others Trade accounts and notes payable and others December 31, 2018 December 31, 2019 December 31, 2018 December 31, 2019 LG Electronics Mlawa Sp. z o.o. W 70,236 124,390 33 75 LG Electronics Reynosa, S.A. DE C.V. 69,189 82,927 134 62 LG Electronics Egypt S.A.E. 10,296 9,432 — — Qingdao LG Inspur Digital Communication Co., Ltd. 3,530 7,221 — — P.T. LG Electronics Indonesia — 7,696 — 16 Others 27,535 2,452 102,486 3,548 W 315,208 387,181 150,355 40,377 W 564,887 597,120 682,311 291,357 (*) Excluded from related parties due to disposal of equity investments during the year ended December 31, 2019. (d) Details of significant cash transactions such as loans and collection of loans, which occurred in the normal course of business with related parties for the years ended December 31, 2018 and 2019 are as follows: (In millions of won) Loans(*) Associates January 1, 2018 Increase Decrease December 31, 2018 INVENIA Co., Ltd. W 2,375 — (375 ) 2,000 YAS Co., Ltd. 375 — (375 ) — W 2,750 — (750 ) 2,000 (*) Loans are presented based on nominal amounts. (In millions of won) Loans(*1) Associates January 1, 2019 Increase Decrease(*2) December 31, 2019 INVENIA Co., Ltd. W 2,000 1,000 (3,000 ) — (*1) Loans are presented based on nominal amounts. (*2) Excluded from related parties due to disposal of equity investments during the year ended December 31, 2019. (e) Key management personnel compensation Compensation costs of key management for the years ended December 31, 2017, 2018 and 2019 are as follows: (In millions of won) 2017 2018 2019 Short-term benefits W 3,724 2,622 2,664 Expenses related to the defined benefit plan 488 794 553 W 4,212 3,416 3,217 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, 2019 | |
Text block [abstract] | |
Supplemental Cash Flow Information | 30. Supplemental Cash Flow Information Supplemental cash flow information for the years ended December 31, 2017, 2018 and 2019 is as follows: (In millions of won) 2017 2018 2019 Non-cash Changes in other accounts payable arising from the purchase of property, plant and equipment W 632,355 516,734 (1,333,967 ) Recognition of right - - — — 29,733 |
Non-current Assets Held for Sal
Non-current Assets Held for Sale | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Non-current Assets Held for Sale | 31. Non-current In prior years, the Group decided to dispose certain tangible assets of LG Display Poland Sp. z o.o. based on the management’s approval and began effort to sell the disposal group. During the year ended December 31, 2019, the Group completed the sale of these assets to LG Chem Poland Sp. z o.o. Gain from disposal of non-current W |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Change in Accounting Policies | (a) Changes in Accounting Policies The Group has initially applied IFRS 16, Leases In application of IFRS 16, Leases right-of-use i) Definition of a lease Previously, the Group determined at contract inception whether an arrangement was or contained a lease under IFRIC 4, Determining Whether an Arrangement contains a Lease On adoption of IFRS 16, as of January 1, 2019, the Group applied the practical expedient to grandfather the assessment of which transactions are leases for existing contracts. The Group applied IFRS 16 only to contracts that were previously identified as leases. ii) Accounting as a lessee As a lessee, the Group leases buildings, vehicles, machinery, equipment and others. The Group previously classified leases as operating or finance leases based on its assessment of whether the lease transferred significantly all of the risks and rewards incidental to ownership of the underlying asset to the Group. Under IFRS 16, the Group recognizes right-of-use 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 Leases classified as operating lease under IAS 17 The Group classified its leases of buildings, vehicles, machinery, equipment and others as operating leases under IAS 17. On adoption of IFRS 16, for these leases, lease liabilities were measured at the present value of the remaining lease payments, discounted at the Group’s incremental borrowing rate as at January 1, 2019 (see note 27). Right-of-use The Group used following practical expedients when applying IFRS 16 to leases previously classified as operating leases under IAS 17: • did not recognize right-of-use • did not recognize right-of-use • excluded initial direct costs from the measurement of the right-of-use • used hindsight when determining the remaining lease term. iii) Accounting as a lessor The Group leases out its own property and right-of-use The Group is not required to make any adjustments on transition for leases as a lessor, except for sub-lease right-of-use Under IAS 17, the head lease and sub-lease right-of-use sub-lease The Group applied IFRS 15 to allocate consideration in the contract to each lease and non-lease iv) Impact on the consolidated financial statements Impacts on adoption On adoption of IFRS 16, the Group recognized additional right-of-use ( In millions of won ) January 1, 2019 Right-of-use W 142,040 Prepaid expenses (61,570 ) Lease receivable 34,649 Lease liabilities 115,119 When measuring lease liabilities at January 1, 2019 for leases that were classified as operating leases in accordance with IAS 17, the Group discounted lease payments using its incremental borrowing rate at January 1, 2019. The weighted-average discount rate applied is 3.36%. ( In millions of won ) January 1, 2019 Amount of operating lease commitments at December 31, 2018 W 119,659 Discounted using the incremental borrowing rate at January 1, 2019 115,614 Finance lease liabilities recognized as at December 31, 2018 — - Recognition exemption for lease of low-value (262 ) - Recognition exemption for leases with less than 12 months of lease term at adoption (233 ) Lease liabilities recognized at January 1, 2019 115,119 v) Enforceable period and determination of the lease term In December 2019, International Financial Reporting Interpretations Committee (“IFRIC”) issued its final agenda decision with interpretations that the concept of loss or penalty that should be considered in determining the enforceable period of a lease contract under IFRS 16, Leases, shall be determined considering the broader economic losses of the lease contract, and not only contractual termination payments. Such agenda decision also makes an interpretation that a lease is no longer enforceable when each of the parties has the right to terminate the lease without permission from the other party by making no more than an insignificant amount of termination payment. As of December 31, 2019, the Group assesses the lease term based on the assumption that the right to extend or terminate the lease is no longer enforceable if a lease contract requires the counterparty’s consent to be extended. Applying the foregoing interpretations by IFRIC may change the judgment on enforceable period for certain of the Group’s lease contracts. The Group determined that there has not been sufficient time or information to analyze and apply the impact of the foregoing interpretations by IFRIC in these consolidated financial statements, given the number and complexity of lease contracts to which the Group is a party. Therefore, as permitted under the related agenda decision by the Due Process Oversight Committee, the Group plans to analyze and apply the impact of the foregoing interpretations by IFRIC in 2020, if any, as changes in accounting policies. |
Consolidation | (b) Consolidation (i) Business Combinations The Group accounts for business combinations using the acquisition method except for a combination of entities or businesses under common control. The consideration transferred in the acquisition is generally measured at fair value, as are the identifiable net assets acquired. If the aggregate sum of consideration transferred and non-controlling pre-existing (ii) 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. (iii) Non-controlling interests Non-controlling non-controlling Changes in the Group’s interest in subsidiaries that do not result in a loss of control are accounted for as equity transactions. (iv) 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. (v) 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 has 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. (vi) 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. |
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 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 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 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. |
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. |
Financial Instruments | (f) Financial Instruments (i) Non-derivative Recognition and initial measurement Trade receivables and debt securities 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: Policy applicable from January 1, 2018 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. 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 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: Policy applicable from January 1, 2018 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: Policy applicable from January 1, 2018 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. 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 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: Policy applicable from January 1, 2018 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. v) Financial assets: Policy applicable before January 1, 2018 The Group has classified financial assets into one of the following categories • loans and receivables • available-for-sale • at FVTPL vi) Financial assets: subsequent measurement, gains and losses: Policy applicable before January 1, 2018 Financial assets at FVTPL Measured at fair value and changes therein, including any interest or dividend income, were recognized in profit or loss. Loans and receivables Measured at amortized cost using the effective interest method. Available-for-sale Measured at fair value and changes therein, other than impairment losses, interest income and foreign currency differences on debt instruments, were recognized in OCI and accumulated in the fair value reserves. When these assets were derecognized, the gain or loss accumulated in equity was classified 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. Offset Financial assets and liabilities are offset and the net amount is presented in the consolidated statement of financial position when, and only when, the Group has a legal right to offset the amounts and intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously. (ii) Non-derivative 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 non-derivative 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. 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. 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. |
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 (iii) Depreciation Depreciation 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: 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 (*) (*) The Group depreciates the right-of-use right-of-use |
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: (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 investments in subsidiaries, associates and joint ventures over the Group’s share of 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. 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. (iii) Other intangible assets Other intangible assets include intellectual property rights, software, customer relationships, technology, memberships and others. (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 Rights to use electricity, water and gas supply facilities 10 Software 4 Customer relationships 7, 10 Technology 10 Development costs (*) Condominium and golf club memberships Not amortized (*) 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. |
Impairment | (k) 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 • debt securities that are determined to have low credit risk at the reporting date; and • other debt securities 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 The maximum period considered when estimating ECLs is the maximum contractual period over which the Group is exposed to credit risk. Estimation of expected credit losses: Policy applicable from January 1, 2018 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: Policy applicable from January 1, 2018 At each reporting period-end, 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 statement of financial position: Policy applicable from January 1, 2018 Loss allowances for financial assets measured at amortized cost are deducted from the gross carrying amount of the assets. For debt securities 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: 1, 2018 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. written-off. Non-derivative financial assets: Policy applicable before January 1, 2018 Financial assets not classified as at FVTPL were assessed at each reporting date to determine whether there was objective evidence of impairment. Objective evidence that financial assets were impaired included: • default or delinquency by a debtor; • restructuring of an amount due to the Group on terms that the Group would not consider otherwise • indications that a debtor or issuer would enter bankruptcy • adverse changes in the payment status of borrowers or issuers; • the disappearance of an active market for a security because of financial difficulties • observable data indicating that there was measurable decrease in the expected cash flows from a group of financial assets. For an investment in an equity instrument, objective evidence of impairment include a significant or prolonged decline in its fair value below its cost. Financial assets at amortized cost The Group considered evidence of impairment for these assets at both collective level and individual asset. All individual significant assets were individually assessed for impairment. Those found not to be impaired were then collectively assessed for any impairment that had been incurred but not yet individually identified. Assets that were not individually significant were collectively assessed for impairment. Collective assessment was carried out by grouping together assets with similar risk characteristics. In assessing collective impairment, the Group used historical information on the timing of recoveries and the amount of loss incurred and made an adjustment if current economic and credit conditions were such that the actual losses were likely to be greater or lesser than suggested by historical trends. An impairment loss was calculated as the difference between an asset’s carrying amount and the present value of the estimated future cash flows discounted at the asset’s original effective interest rate. Losses were recognized in profit or loss and reflected in an allowance account. For financial assets such as equity instruments which the carrying amount would be the cost, the impairment loss is the difference between the carrying value and the present value of estimated future cash receipts of a similar financial instruments discounted at current market rate. The impairment loss is recognized as profit and losses and would be not reversed as profit and losses. Available-for-sale financial assets For the financial assets classified as available-for-sale If the fair value of an impaired available-for-sale available-for-sale (ii) Non-financial The carrying amounts of the Group’s non-financial 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. 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 pre-tax 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. |
Leases | (l) Leases The Group applied IFRS 16 using the modified retrospective approach and therefore the comparative information is not restated and continues to be reported applying IAS 17 and IFRIC 4. At inception of a contract, the Group assesses whether a contract is, or contains, a lease. 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. To assess whether a contract conveys the right to control the use of an identified asset, the Group uses the definition of a lease in IFRS 16. The policy is applied to contracts entered into or changed, on or after January 1, 2019. (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 non-lease non-lease The Group recognizes a right-of-use right-of-use The right-of-use right-of-use right-of-use right-of-use 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 • 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 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 right-of-use The Group presents right-of-use The Group has elected not to recognize right-of-use low-value (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 sub-lease right-of-use sub-lease If an arrangement contains lease and non-lease 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’. The accounting policies applicable to the Group as a lessor in the comparative period are not different from IFRS 16 except for the classification of the sub-lease |
Provisions | (m) 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 18~36 months from the date of purchase. These liabilities are accrued 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 liabilities and adjusts the amounts as necessary. Accrued warranty obligations are included in the current and non-current 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 | (n) Non-current Non-current held-for-sale non-current held-for-sale The Group does not depreciate a non-current |
Employee Benefits | (o) 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. (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 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 (defined benefit 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 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. |
Revenue from contracts with customers | (p) 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 g g g g 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 | (q) 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 | (r) 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, changes in fair value of financial assets at FVTPL, and gains on hedging instruments that are recognized in profit or loss. 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 assets measured at FVTPL, impairment losses recognized on financial assets, and losses on hedging instruments that are recognized in profit or loss. 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 | (s) 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 non-deductible (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. The deferred tax assets are recognized to the extent that it is probable that future taxable income will be available against which the deductible temporary differences, unused tax losses and unrecognized tax credit carryforwards can be utilized. 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. |
Earnings Per Share | (t) Earnings (Loss) Per Share The Controlling Company presents basic and diluted earnings (loss) per share (“EPS”) data for its common stocks. Basic EPS is calculated by dividing the profit or loss attributable to ordinary shareholders of the Controlling Company by the weighted average number of common stocks outstanding during the period. Diluted EPS is determined by adjusting the profit or loss attributable to ordinary shareholders and the weighted average number of common stocks outstanding, adjusted for the effects of all dilutive potential common stocks such as convertible bonds and others. |
New Standards and Amendments Not Yet Adopted | (u) New Standards and Amendments Not Yet Adopted A number of new standards are effective for annual periods beginning after January 1, 2019 and earlier application is permitted; however, the Group has not early adopted the new or amended standards in preparing these consolidated financial statements: The following amended standards and interpretations are not expected to have a significant impact on the Group’s consolidated financial statements: • Amendments to References to Conceptual Framework in IFRS Standards.; • Definition of a Business (Amendments to IFRS 3, Business Combinations • Definition of Material (Amendments to IAS 1, Presentation of Financial Statements Accounting Policies, Changes in Accounting Estimates and Errors • IFRS 17, Insurance Contracts |
Reporting Entity (Tables)
Reporting Entity (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Consolidated Subsidiaries | (b) Consolidated Subsidiaries as of December 31, 2019 (In millions) Subsidiaries Location Percentage Fiscal year end Date of incorporation Business Capital stocks LG Display America, Inc. San Jose, U.S.A. 100 % December 31 September 24, 1999 Sell display products USD 411 LG Display Germany GmbH Eschborn, Germany 100 % December 31 November 5, 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 NTD 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 Poland Sp. z o.o.(*1). Wroclaw, Poland 100 % December 31 September 6, 2005 Manufacture display products PLN 511 LG Display Guangzhou Co., Ltd. Guangzhou, China 100 % December 31 June 30, 2006 Manufacture display products CNY 1,655 LG Display Shenzhen Co., Ltd. Shenzhen, China 100 % December 31 August 28, 2007 Sell display products CNY 4 LG Display Singapore Pte. Ltd. Singapore 100 % December 31 January 12, 2009 Sell display products USD 1.1 L&T Display Technology (Fujian) Limited Fujian, China 51 % December 31 January 5, 2010 Manufacture and sell LCD module and LCD monitor sets CNY 116 LG Display Yantai Co., Ltd. Yantai, China 100 % December 31 April 19, 2010 Manufacture display products CNY 1,008 Nanumnuri Co., Ltd. Gumi, South Korea 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 Technology, LLC Wilmington, U.S.A. 100 % December 31 March 12, 2014 Manage intellectual property USD 9 LG Display Guangzhou Trading Co., Ltd. Guangzhou, China 100 % December 31 April 28, 2015 Sell display products CNY 1.2 Global OLED Technology, LLC Sterling , U.S.A. 100 % December 31 December 18, 2009 Manage OLED intellectual property USD 138 LG Display Vietnam Haiphong Co., Ltd. (*2) Haiphong Vietnam 100 % December 31 May 5, 2016 Manufacture display products USD 600 Suzhou Lehui Display Co., Ltd. Suzhou, China 100 % December 31 July 1, 2016 Manufacture and sell LCD module and LCD monitor sets CNY 637 LG DISPLAY FUND I LLC(*3) Wilmington, U.S.A. 100 % December 31 May 1, 2018 Invest in venture business and acquire technologies USD 6 LG Display High-Tech (China) Co., Ltd.(*4) Guangzhou, China 75 % December 31 July 11, 2018 Manufacture and sell display products CNY 14,570 Money Market Trust Seoul, South Korea 100 % December 31 — Money market trust KRW 34,700 (*1) On July 1, 2019, LG Display Poland Sp. z o.o. commenced the liquidation process. (*2) For the year ended December 31, 2019, the Controlling Company contributed W (*3) For the year ended December 31, 2019, the Controlling Company contributed W (*4) For the year ended December 31, 2019, the Controlling Company contributed W non-controlling W W W W W |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Schedule of Impacts on condensed consolidated interim financial statements | On adoption of IFRS 16, the Group recognized additional right-of-use ( In millions of won ) January 1, 2019 Right-of-use W 142,040 Prepaid expenses (61,570 ) Lease receivable 34,649 Lease liabilities 115,119 |
Summary of Measuring Lease Liabilities | ( In millions of won ) January 1, 2019 Amount of operating lease commitments at December 31, 2018 W 119,659 Discounted using the incremental borrowing rate at January 1, 2019 115,614 Finance lease liabilities recognized as at December 31, 2018 — - Recognition exemption for lease of low-value (262 ) - Recognition exemption for leases with less than 12 months of lease term at adoption (233 ) Lease liabilities recognized at January 1, 2019 115,119 |
Estimated Useful Lives of Property, Plant and Equipment | Estimated useful lives of the assets are as follows: 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 (*) (*) The Group depreciates the right-of-use right-of-use |
Estimated Useful Lives of Intangible Assets, Other Than Goodwill | Estimated useful lives (years) Intellectual property rights 5, 10 Rights to use electricity, water and gas supply facilities 10 Software 4 Customer relationships 7, 10 Technology 10 Development costs (*) Condominium and golf club memberships Not amortized (*) 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, 2019 | |
Text block [abstract] | |
Summary of Cash and Cash Equivalents and Deposits in Banks | Cash and cash equivalents and deposits in banks as of December 31, 2018 and December 31, 2019 are as follows: ( In millions of won December 31, 2018 December 31, 2019 Current assets Cash and cash equivalents Demand deposits W 2,365,022 3,336,003 Deposits in banks Time deposits W 4,318 1,500 Restricted deposits(*) 74,082 77,257 W 78,400 78,757 Non-current Deposits in banks Restricted deposits(*) W 11 11 W 2,443,433 3,414,771 (*) Includes funds deposited under agreements on mutually beneficial cooperation to aid LG Group companies’ suppliers, restricted deposits pledged to enforce the Group’s investment plans upon the receipt of grants from Gumi city and Gyeongsangbuk-do, |
Receivables and Other Assets (T
Receivables and Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Trade Accounts and Notes Receivable | (a) Trade accounts and notes receivable as of December 31, 2018 and December 31, 2019 are as follows: ( In millions of won December 31, 2018 December 31, 2019 Due from third parties W 2,305,368 2,576,391 Due from related parties 523,795 577,689 W 2,829,163 3,154,080 |
Summary of Other Accounts Receivable | (b) Other accounts receivable as of December 31, 2018 and December 31, 2019 are as follows: ( In millions of won December 31, 2018 December 31, 2019 Current assets Non-trade W 159,238 463,614 Accrued income 10,075 10,434 W 169,313 474,048 Non-current assets Long-term non-trade 11,448 9,072 W 180,761 483,120 |
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, 2018 and December 31, 2019 are as follows: (In millions of won) December 31, 2018 Book value Allowance for impairment Trade accounts and notes receivable Other accounts receivable Trade accounts and notes receivable Other accounts receivable Current W 2,807,598 177,689 (473 ) (816 ) Past due 1-15 21,558 3,148 (4 ) (26 ) Past due 16-30 days 454 441 — (4 ) Past due 31-60 30 96 — (1 ) Past due more than 60 days — 668 — (434 ) W 2,829,640 182,042 (477 ) (1,281 ) (In millions of won) December 31, 2019 Book value Allowance for impairment Trade accounts and notes receivable Other accounts receivable Trade accounts and notes receivable Other accounts receivable Current W 3,119,914 208,086 (454 ) (3,292 ) Past due 1-15 34,626 3,512 (6 ) (1 ) Past due 16-30 days — 598 — (4 ) Past due 31-60 — 61 — — Past due more than 60 days — 274,185 — (25 ) W 3,154,540 486,442 (460 ) (3,322 ) |
Movement in Allowance for Impairment in Respect of Trade Accounts and Notes Receivable, 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, 2017, 2018 and 2019 are as follows: ( In millions of won ) Trade accounts and notes receivable 2017 2018 2019 Balance at the beginning of the year W 1,488 1,632 477 (Reversal of) bad debt expense 144 (1,155 ) (17 ) Balance at the end of the year W 1,632 477 460 ( In millions of won Other accounts receivable 2017 2018 2019 Balance at the beginning of the year W 1,116 1,311 1,281 (Reversal of) bad debt expense 195 (30 ) 2,041 Balance at the end of the year W 1,311 1,281 3,322 |
Summary of Other Assets | (d) Other assets as of December 31, 2018 and December 31, 2019 are as follows: (In millions of won) December 31, 2018 December 31, 2019 Current assets Advanced payments W 13,259 6,203 Prepaid expenses 89,110 114,145 Value added tax refundable 436,190 826,730 Right to recover returned goods 7,489 22,106 W 546,048 969,184 Non-current Long-term prepaid expenses W 381,983 272,835 Long-term advanced payments — 7,742 W 381,983 280,577 |
Other Financial Assets (Tables)
Other Financial Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Other Financial Assets | Other financial assets as of December 31, 2018 and 2019 are as follows: ( In millions of won December 31, 2018 December 31, 2019 Current assets Financial assets at fair value through profit or loss Derivatives(*) W 13,059 34,036 Financial assets at fair value through other comprehensive income Debt instruments Government bonds W 106 6 Financial asset carried at amortized cost Deposits W 17,020 9,585 Short-term loans 16,116 21,623 Lease receivables — 5,695 W 33,136 36,903 W 46,301 70,945 Non-current Financial assets at fair value through profit or loss Equity instruments Intellectual Discovery, Ltd. W 4,598 1,104 Kyulux, Inc. 2,460 1,889 Fineeva Co., Ltd. 286 4 ARCH Venture Fund Vlll, L.P. 6,337 6,302 Sierra Ventures Fund XII, L.P. — 580 W 13,681 9,879 Convertible bonds W 1,327 1,544 Derivatives(*) — 15,640 W 15,008 27,063 Financial assets at fair value through other comprehensive income Debt instruments Government bonds W 55 70 Financial assets carried at amortized cost Deposits W 74,103 21,451 Long-term loans 55,048 40,827 Lease receivables — 22,099 W 129,151 84,377 W 144,214 111,510 (*) Represents valuation gain from currency interest rate swap contracts related to foreign currency denominated borrowings and bonds. The contracts are not designated as hedging instruments. Other financial assets of related parties as of December 31, 2018 is W |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Inventories | Inventories as of December 31, 2018 and 2019 are as follows: (In millions of won) December 31, 2018 December 31, 2019 Finished goods W 1,084,297 730,009 Work-in-process 856,388 756,744 Raw materials 554,720 405,854 Supplies 195,798 158,548 W 2,691,203 2,051,155 |
Inventories Recognized as Cost of Sales and Inventory Write-downs Included in Cost of Sales | For the years ended December 31, 2017, 2018 and 2019, the amount of inventories recognized as cost of sales and inventory write-downs included in cost of sales are as follows: (In millions of won) 2017 2018 2019 Inventories recognized as cost of sales W 22,424,661 21,251,305 21,607,240 Including: inventory write-downs 206,127 313,180 472,885 |
Investments in Equity Account_2
Investments in Equity Accounted Investees (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Statement [line Items] | |
Summary of Consolidated Associates | (a) Associates at the reporting date are as follows: (In millions of won) Associates Location Fiscal year end Date of incorporation Business 2018 2019 Percentage Carrying amount Percentage Carrying amount Paju Electric Glass Co., Ltd. Paju, South Korea December 31 January 2005 Manufacture glass for display 40 % W 47,823 40 % W 50,697 INVENIA Co., Ltd.(*1) Seongnam, South Korea December 31 January 2001 Develop and manufacture equipment for display manufacture 13 % 4,166 — — WooRee E&L Co., Ltd.(*2) Ansan, South Korea December 31 June 2008 Manufacture LED back light unit packages 14 % 4,746 14 % 7,310 YAS Co., Ltd. Paju, South Korea December 31 April 2002 Develop and manufacture deposition equipment for OLEDs 15 % 16,308 15 % 19,424 AVATEC Co., Ltd.(*3) Daegu, South Korea December 31 August 2000 Process and sell glass for display 17 % 23,441 14 % 19,929 Arctic Sentinel, Inc. Los Angeles, U.S.A. March 31 June 2008 Develop and manufacture tablet for kids 10 % — 10 % — Cynora GmbH (*4) Bruchsal, Germany December 31 March 2003 Develop organic emitting materials for displays and lighting devices 14 % 8,668 12 % 4,714 Material Science Co., Ltd.(*5) Seoul, South Korea December 31 January 2014 Develop, manufacture, and sell materials for display 10 % W 3,346 10 % W 2,354 Nanosys Inc.(*6) Milpitas, U.S.A. December 31 July 2001 Develop, manufacture, and sell materials for display 4 % 5,491 4 % 5,183 W 113,989 W 109,611 (*1) During 2019, the Controlling Company disposed of the entire investments, 3,000,000 shares of common stock, in INVENIA Co., Ltd and recognized W (*2) During 2019, the Controlling Company recognized a reversal of impairment loss of W (*3) During 2019, the Controlling Company disposed of 650,000 shares of common stock in AVATEC Co., Ltd. As of December 31, 2019, the Controlling Company’s ownership percentage in AVATEC Co., LTD. is 14% and the Controlling Company recognized W (*4) During 2019, the Controlling Company recognized an impairment loss of W Cynora GmbH. As of December 31, 2019, the Controlling Company’s ownership percentage in Cynora GmbH decreased from 14% to 12% as the Controlling Company did not participate in the capital increase of Cynora GmbH. (*5) During 2019, the Controlling Company recognized an impairment loss of W (*6) During 2019, the Controlling Company recognized a reversal of impairment loss of W |
Summary of Financial Information of Significant Associates | (b) Summary of financial information of the significant associate as of December 31, 2018 and 2019 and for the years ended December 31, 2017, 2018 and 2019 is as follows: (i) Paju Electric Glass Co., Ltd. (In millions of won) December 31, 2018 December 31, 2019 Total assets W 194,021 195,815 Current assets 128,788 126,314 Non-current 65,233 69,501 Total liabilities 72,686 66,017 Current liabilities 66,797 51,625 Non-current 5,889 14,392 (In millions of won) 2017 2018 2019 Revenue W 408,846 384,144 346,434 Profit for the year 12,327 12,744 13,672 Other comprehensive income (loss) (9,366 ) 2,612 9,933 Total comprehensive income 2,961 15,356 23,605 |
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, 2018 and 2019 is as follows: (i) As of December 31, 2018 (In millions of won) Company Net asset Ownership Net asset Goodwill Intra-group Book value Paju Electric Glass Co., Ltd. W 121,335 40 % 48,534 — (711 ) 47,823 (ii) As of December 31, 2019 (In millions of won) Company Net asset Ownership Net asset Goodwill Intra-group Impairment Book Paju Electric Glass Co., Ltd. W 129,798 40 % 51,919 — (789 ) (433 ) 50,697 (d) Book value of other associates, in aggregate, as of December 31, 2018 and 2019 is as follows: (i) As of December 31, 2018 (In millions of won) Book value Net profit of associates (applying ownership interest) Profit for the Other comprehensive Total comprehensive Other associates W 66,166 (3,739 ) (988 ) (4,727 ) (ii) As of December 31, 2019 (In millions of won) Book value Net profit (loss) of associates (applying ownership interest) Profit (loss) for the year Other comprehensive Total comprehensive Other associates W 58,914 6,756 190 6,946 |
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, 2018 and 2019 are as follows: (In millions of won) 2018 Company January 1 Acquisition/ Disposal Dividends Equity income Other Other gain (loss) December 31 Associates Paju Electric Glass Co., Ltd. W 46,511 — (4,172 ) 4,439 1,045 — 47,823 Others 75,996 12,592 (1,100 ) (3,739 ) (988 ) (16,595 ) 66,166 W 122,507 12,592 (5,272 ) 700 57 (16,595 ) 113,989 (In millions of won) 2019 Company January 1 Acquisition/ Disposal Dividends Equity income Other Other December 31 Associates Paju Electric Glass Co., Ltd. W 47,823 — (6,057 ) 5,391 3,973 (433 ) 50,697 Others 66,166 (9,807 ) (1,445 ) 6,756 190 (2,946 ) 58,914 W 113,989 (9,807 ) (7,502 ) 12,147 4,163 (3,379 ) 109,611 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Changes in Property, Plant and Equipment | (a) Changes in property, plant and equipment for the year ended December 31, 2018 are as follows: (In millions of won) Land Buildings Machinery and equipment Furniture and fixtures Construction -in-progress (*1) Others Total Acquisition cost as of January 1, 2018 W 460,511 6,539,506 38,901,158 772,824 5,971,856 205,475 52,851,330 Accumulated depreciation as of January 1, 2018 — (2,678,970 ) (33,186,118 ) (631,482 ) — (148,753 ) (36,645,323 ) Accumulated impairment loss as of January 1, 2018 — (1,757 ) (2,290 ) — — — (4,047 ) Book value as of January 1, 2018 W 460,511 3,858,779 5,712,750 141,342 5,971,856 56,722 16,201,960 Additions — — — — 8,605,551 — 8,605,551 Depreciation — (318,311 ) (2,568,335 ) (67,274 ) — (169,739 ) (3,123,659 ) Disposals (15 ) (161 ) (112,752 ) (311 ) — (2,971 ) (116,210 ) Impairment loss — — (25,711 ) — (17,890 ) — (43,601 ) Others(*2) 1,332 55,430 1,959,645 68,177 (2,357,412 ) 380,278 107,450 Effect of movements in exchange rates — 9,809 14,520 359 15,010 312 40,010 Government grants received — — (1,029 ) — (181 ) — (1,210 ) Reclassification to assets held-for-sale — (69,758 ) (1 ) (37 ) — (365 ) (70,161 ) Book value as of December 31, 2018 W 461,828 3,535,788 4,979,087 142,256 12,216,934 264,237 21,600,130 Acquisition cost as of December 31, 2018 W 461,828 6,528,939 39,825,070 834,628 12,234,824 633,220 60,518,509 Accumulated depreciation as of December 31, 2018 W — (2,991,445 ) (34,817,982 ) (692,372 ) — (368,983 ) (38,870,782 ) Accumulated impairment loss as of December 31, 2018 W — (1,706 ) (28,001 ) — (17,890 ) — (47,597 ) (*1) As of December 31, 2018, construction-in-progress mainly relates to construction of manufacturing facilities. (*2) Others are mainly amounts transferred from construction-in-progress. (b) Changes in property, plant and equipment for the year ended December 31, 2019 are as follows: (In millions of won) Land Buildings Machinery and equipment Furniture and fixtures Construction -in-progress (*1) Right-of- use asset Others Total Acquisition cost as of January 1, 2019 W 461,828 6,528,939 39,825,070 834,628 12,234,824 — 633,220 60,518,509 Accumulated depreciation as of January 1, 2019 — (2,991,445 ) (34,817,982 ) (692,372 ) — — (368,983 ) (38,870,782 ) Accumulated impairment loss as of January 1, 2019 — (1,706 ) (28,001 ) — (17,890 ) — — (47,597 ) Book value as of January 1, 2019 W 461,828 3,535,788 4,979,087 142,256 12,216,934 — 264,237 21,600,130 Recognition of right-of-use — — — — — 142,040 — 142,040 Adjusted book value as of January 1, 2019 W 461,828 3,535,788 4,979,087 142,256 12,216,934 142,040 264,237 21,742,170 Additions — — — — 5,878,369 29,733 — 5,908,102 Depreciation — (302,157 ) (2,609,205 ) (66,592 ) — (51,063 ) (239,762 ) (3,268,779 ) Disposals (7,861 ) (4,958 ) (559,616 ) (1,622 ) — (3,594 ) (16,953 ) (594,604 ) Impairment loss (*2) — (125,687 ) (1,212,215 ) (8,278 ) (171,439 ) (4,302 ) (28,509 ) (1,550,430 ) Others (*3) 68 1,064,123 6,958,793 70,140 (8,373,047 ) — 279,923 — Government grants received — (83,200 ) (17,028 ) — (180,448 ) — — (280,676 ) Effect of movements in exchange rates — 21,984 30,957 884 75,958 436 1,643 131,862 Book value as of December 31, 2019 W 454,035 4,105,893 7,570,773 136,788 9,446,327 113,250 260,579 22,087,645 Acquisition cost as of December 31, 2019 W 454,035 7,381,156 43,604,721 899,053 9,618,256 169,133 823,101 62,949,455 Accumulated depreciation as of December 31, 2019 W — (3,154,387 ) (34,810,300 ) (753,987 ) — (51,581 ) (534,013 ) (39,304,268 ) Accumulated impairment loss as of December 31, 2019 W — (120,876 ) (1,223,648 ) (8,278 ) (171,929 ) (4,302 ) (28,509 ) (1,557,542 ) (*1) As of December 31, 2019, construction-in-progress mainly relates to construction of manufacturing facilities. (*2) During 2019, Display (AD PO) and Lighting CGUs were assessed for impairment, and impairment losses amounting to W W W we are (*3) Others are mainly amounts transferred from construction-in-progress. |
Capitalized Borrowing Costs and Capitalization Rate | (c) Capitalized borrowing costs and capitalization rate for the years ended December 31, 2017, 2018 and 2019 are as follows: (In millions of won) 2017 2018 2019 Capitalized borrowing costs W 47,686 146,607 283,525 Capitalization rate 1.92 % 2.80 % 3.74 % |
Intangible Assets and Non-cur_2
Intangible Assets and Non-current Asset Impairment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Changes in Intangible Assets | (a) Changes in intangible assets for the year ended December 31, 2018 are as follows: (In millions of won) Intellectual property Software Member- Development Construction -in-progress Customer relationships Technology Good- will Others (*2) Total Acquisition cost as of January 1, 2018 W 895,721 898,278 54,985 1,769,998 30,933 59,176 11,074 103,048 13,077 3,836,290 Accumulated amortization as of January 1, 2018 (648,755 ) (736,788 ) — (1,473,238 ) — (31,337 ) (8,490 ) — (13,076 ) (2,911,684 ) Accumulated impairment loss as of January 1, 2018 — — (11,785 ) — — — — — — (11,785 ) Book value as of January 1, 2018 W 246,966 161,490 43,200 296,760 30,933 27,839 2,584 103,048 1 912,821 Additions - internally developed — — — 372,835 — — — — — 372,835 Additions - external purchases 24,596 — 2,844 — 100,820 — — — — 128,260 Amortization(*1) (43,437 ) (80,159 ) — (302,685 ) — (3,517 ) (1,107 ) — (1 ) (430,906 ) Disposals — — (721 ) — — — — — — (721 ) Impairment loss — — (82 ) — — — — — — (82 ) Reversal of impairment loss — — 348 — — — — — — 348 Transfer from construction-in-progress — 95,028 449 — (95,028 ) — — — — 449 Effect of movements in exchange rates 1,896 1,240 1 — 238 — — 1,263 — 4,638 Book value as of December 31, 2018 W 230,021 177,599 46,039 366,910 36,963 24,322 1,477 104,311 — 987,642 Acquisition cost as of December 31, 2018 W 926,969 992,139 57,560 2,142,832 36,963 59,176 11,075 104,311 13,077 4,344,102 Accumulated amortization as of December 31, 2018 W (696,948 ) (814,540 ) — (1,775,922 ) — (34,854 ) (9,598 ) — (13,077 ) (3,344,939 ) Accumulated impairment loss as of December 31, 2018 W — — (11,521 ) — — — — — — (11,521 ) (*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. (b) Changes in intangible assets for the year ended December 31, 2019 are as follows: (In millions of won) Intellectual property Software Member- Development Construction -in-progress Customer relationships Technology Good- will Others (*2) Total Acquisition cost as of January 1, 2019 W 926,969 992,139 57,560 2,142,832 36,963 59,176 11,075 104,311 13,077 4,344,102 Accumulated amortization as of January 1, 2019 (696,948 ) (814,540 ) — (1,775,922 ) — (34,854 ) (9,598 ) — (13,077 ) (3,344,939 ) Accumulated impairment loss as of January 1, 2019 — — (11,521 ) — — — — — — (11,521 ) Book value as of January 1, 2019 W 230,021 177,599 46,039 366,910 36,963 24,322 1,477 104,311 — 987,642 Additions - internally developed — — — 437,945 — — — — — 437,945 Additions - external purchases 28,397 — 846 — 90,369 — — — 3 119,615 Amortization (*1) (42,550 ) (82,016 ) — (297,959 ) — (2,637 ) (1,108 ) — (2 ) (426,272 ) Disposals — (239 ) (1,816 ) — — — — — — (2,055 ) Impairment loss (*3)(*4) (29,152 ) (8,905 ) — (131,713 ) — (21,685 ) — (57,995 ) — (249,450 ) Reversal of impairment loss — — 960 — — — — — — 960 Transfer from construction-in-progress — 111,359 — — (112,159 ) — — — — (800 ) Effect of movements in exchange rates 4,318 347 23 — 72 — — 1,103 — 5,863 Book value as of December 31, 2019 W 191,034 198,145 46,052 375,183 15,245 — 369 47,419 1 873,448 Acquisition cost as of December 31, 2019 W 959,683 1,097,290 56,612 2,580,777 15,245 59,176 11,074 105,414 13,080 4,898,351 Accumulated amortization as of December 31, 2019 W (739,498 ) (890,281 ) — (2,073,881 ) — (37,491 ) (10,705 ) — (13,079 ) (3,764,935 ) Accumulated impairment loss as of December 31, 2019 W (29,151 ) (8,864 ) (10,560 ) (131,713 ) — (21,685 ) — (57,995 ) — (259,968 ) (*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 2019, Display(AD PO) and Lighting CGUs were assessed for impairment, and the impairment losses amounting to W W W (*4) The Group recognized an impairment loss amounting to W |
Summary of Development Costs | (d) Development costs as of December 31, 2018 and 2019 are as follows: (i) As of December 31, 2018 (In millions of won and in years) Classification Product Book Value Remaining Useful life Development completed Mobile W 108,467 0.5 TV 28,001 0.5 Notebook 4,458 0.6 Others 9,475 0.5 W 150,401 Development in process Mobile W 144,679 — TV 55,580 — Notebook 9,639 — Others 6,611 — W 216,509 W 366,910 (ii) As of December 31, 2019 (In millions of won and in years) Classification Product Book Value Remaining Useful life Development completed Mobile W 53,350 0.4 TV 22,597 0.4 Notebook 14,464 0.4 Others 12,370 0.7 W 102,781 Development in process Mobile W 157,483 — TV 42,587 — Notebook 46,167 — Others 26,165 — W 272,402 W 375,183 |
Schedule of inputs used in measurement of CGU | The key assumptions used in the estimation of value in use of each CGU as of December 31, 2019 are as follows. Lighting(*2) Display (AD PO)(*3) Display(*4) Discount rate(*1) 6.1 % 6.1 % 6.1 % Terminal growth rate N/A 0.0 % 1.0 % (*1) 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 by the interest rate of the Group’s publicly issued bonds and debt ratio was determined using the average of the debt ratios of the five global listed companies in the same industry with (*2) As a result of impairment test, the carrying amount of Lighting CGU which produces OLED lighting products was fully impaired with impairment loss of W (*3) As a result of impairment test, the carrying amount of Display(AD PO) CGU which produces plastic OLED mobile products and commenced mass production in 2019, exceeds the recoverable amount of W W and terminal growth rate W W (*4) As a result of impairment test for Display CGU, the recoverable amount exceeds the carrying amount by W |
Financial Liabilities (Tables)
Financial Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Statement [line Items] | |
Summary of Financial Liabilities | (a) Financial liabilities at the reporting date are as follows: ( In millions of won December 31, 2018 December 31, 2019 Current Short-term borrowings W — 696,793 Current portion of long-term borrowings and bonds 1,553,907 1,242,904 Lease liabilities — 37,387 W 1,553,907 1,977,084 Non-current Won denominated borrowings W 2,700,608 2,692,560 Foreign currency denominated borrowings 2,531,663 6,107,117 Bonds 1,772,599 2,741,516 Derivatives(*) 25,758 20,592 Lease liabilities — 51,125 W 7,030,628 11,612,910 |
Summary of Debt Instrument | The number of convertible shares as of December 31, 2019 is as follows: (In won and No. of shares) December 31, 2019 Aggregate outstanding amount of the convertible bonds W 813,426,670,000 Conversion price W 19,845 Number of common shares to be issued at conversion 40,988,998 |
Bonds issued and outstanding [member] | |
Statement [line Items] | |
Summary of Debt Instrument | (e) Details of bonds issued and outstanding at the reporting date are as follows: (In millions of won) Maturity Annual interest rate as of December 31, 2019 (%) December 31, 2018 December 31, 2019 Won denominated bonds(*1) Publicly issued bonds May 2020 ~ February 2024 1.95~2.95 W 1,900,000 1,730,000 Privately issued bonds May 2025 ~ May 2033 3.25~4.25 110,000 110,000 Less discount on bonds (3,949 ) (3,404 ) Less current portion (559,658 ) (409,702 ) W 1,446,393 1,426,894 Foreign currency denominated bonds(*2) Publicly issued bonds November 2021 3.88 W 335,430 347,340 Privately issued bonds April 2023 3ML + 1.47 — 115,780 Foreign currency equivalent USD 300 USD 400 Less discount on bonds (9,224 ) (6,883 ) W 326,206 456,237 Financial liabilities at fair value through profit or loss Foreign currency convertible bonds August 2024 1.50 W — 858,385 Foreign currency equivalent — USD 741 W 1,772,599 2,741,516 (*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 or semi-annually. |
Long-term borrowings [Member] | |
Statement [line Items] | |
Summary of Debt Instrument | (c) Won denominated long-term borrowings at the reporting date are as follows: (In millions of won) Lender Annual interest rate as of December 31, 2019 (%)(*) December 31, December 31, Woori Bank 2.75 W 1,259 608 Korea Development Bank and others CD rate (91days) + 2,850,000 3,330,000 Less current portion of long-term borrowings (150,651 ) (638,048 ) W 2,700,608 2,692,560 (*) CD represents Certificate of Deposit. (d) Foreign currency denominated long-term borrowings at the reporting date are as follows: (In millions of won and USD, CNY) Lender Annual interest rate as of December 31, 2019 (%) December 31, December 31, The Export-Import Bank of Korea 3ML+0.75~1.70 6ML+1.25~1.35 W 955,975 1,696,177 China Construction Bank and others USD: 3ML+0.80~1.43 CNY: PBOC X (0.95~1.05) 2,419,286 4,606,094 Foreign currency equivalent USD 2,262 USD 2,767 CNY 5,198 CNY 18,699 Less current portion of long-term borrowings (843,598 ) (195,154 ) W 2,531,663 6,107,117 |
Short-term borrowings [member] | |
Statement [line Items] | |
Summary of Debt Instrument | (b) Foreign currency denominated short-term borrowings as of December 31, 2019 are as follows. There are none as of December 31, 2018. (In millions of won and USD, CNY) Lender Annual interest rate as of December 31, 2019 (%)(*) December 31, 2019 Standard Chartered Bank Korea Limited 12ML + 0.78~0.88 W 347,340 Standard Chartered Bank Vietnam and others 3ML + 0.80~0.90 61,613 Standard Chartered Bank (China) Limited and others PBOC x 1.05 PBOC - 0.05 287,840 Foreign currency equivalent USD 353 CNY 1,737 W 696,793 (*) ML represents Month LIBOR (London Inter-Bank Offered Rates) and PBOC represents the benchmark interest rate of People’s Bank of China. |
Convertible bonds [member] | |
Statement [line Items] | |
Summary of Debt Instrument | (f) Details of the convertible bonds issued and outstanding as of December 31, 2019 are as follows: (In won, USD) Description Type Unsecured foreign currency denominated convertible bonds Issuance amount USD 687,800,000 Annual interest rate (%) 1.50 Issuance date August 22, 2019 Maturity date August 22, 2024 Interest payment Payable semi-annually in arrear until maturity date in equal installments commencing on issuance Principal redemption 1. Redemption at maturity : Redeemed on the maturity date, at their outstanding principal amount, which has not been early redeemed or converted. 2. Advanced redemption : The Controlling Company has a right to redeem in advance (call option) and the bondholders have a right to require the Controlling Company to redeem in advance (put option). At exercise, the outstanding principal amount together with accrued but unpaid interest are to be redeemed. Conversion price W Conversion period From August 23, 2020 to August 12, 2024 Redemption at the option of the issuer (Call option) • On or at any time after 3 years from the issuance, if the closing price of the shares for any 20 trading days out of the 30 consecutive trading days is at least 130% of the applicable conversion price • The aggregate principal amount of the convertible bonds outstanding is less than 10% of the aggregate principal amount originally issued, or • In the event of certain changes in laws and other directives resulting in additional taxes for the holders Redemption at the option of the bondholders (Put option) On the day of 3 years from the issuance |
Employee Benefits (Tables)
Employee Benefits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Statement [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 at the reporting date are as follows: (In millions of won) December 31, 2018 December 31, 2019 Present value of partially funded defined benefit obligations W 1,595,423 1,481,339 Fair value of plan assets (1,550,063 ) (1,607,253 ) W 45,360 (125,914 ) Defined benefit liabilities, net W 45,360 1,338 Defined benefit assets W — 127,252 |
Details of Plan Assets | (d) Plan assets at the reporting date are as follows: (In millions of won) December 31, 2018 December 31, 2019 Guaranteed deposits in banks W 1,550,063 1,607,253 As of December 31, 2019, the Group maintains the plan assets primarily with Mirae Asset Daewoo Co., Ltd., KB Insurance Co., Ltd. and others. |
Expenses Recognized in Profit or Loss and Line Items Included in Consolidated Statements of Comprehensive Income | (e) Expenses recognized in profit or loss for the years ended December 31, 2017, 2018 and 2019 are as follows: (In millions of won) 2017 2018 2019 Current service cost W 195,850 204,668 194,469 Past service cost — (25,749 ) (32,006 ) Net interest cost 2,391 961 534 W 198,241 179,880 162,997 Expenses are recognized in the following line items in the consolidated statements of comprehensive income (loss): (In millions of won) 2017 2018 2019 Cost of sales W 158,418 134,879 119,147 Selling expenses 11,114 11,045 10,600 Administrative expenses 16,287 19,472 18,360 Research and development expenses 12,422 14,484 14,890 W 198,241 179,880 162,997 |
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, 2017, 2018 and 2019 are as follows: (In millions of won) 2017 2018 2019 Balance at January 1 W (163,950 ) (170,510 ) (165,969 ) Remeasurements Actuarial profit or loss arising from: Experience adjustment (48,890 ) 56,225 43,644 Demographic assumptions (7,702 ) (15,379 ) (19,952 ) Financial assumptions 56,706 (12,961 ) 113,772 Return on plan assets (16,374 ) (22,195 ) (8,824 ) Group’s share of associates regarding remeasurements 441 20 238 W (15,819 ) 5,710 128,878 Income tax W 9,259 (1,169 ) (35,235 ) Balance at December 31 W (170,510 ) (165,969 ) (72,326 ) |
Principal Actuarial Assumptions | (g) Principal actuarial assumptions at the reporting date (expressed as weighted averages) are as follows: 2018 2019 Expected rate of salary increase 4.3 % 3.4 % Discount rate for defined benefit obligations 2.8 % 2.4 % 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, December 31, Teens Males 0.01 % 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 0.01 % 0.00 % Forties Males 0.03 % 0.02 % Females 0.02 % 0.01 % Fifties Males 0.05 % 0.04 % Females 0.02 % 0.02 % |
Amounts of Defined Benefit Obligations Affected by Reasonably Possible Changes to Respective Relevant Actuarial Assumptions | (h) Reasonably possible changes to respective relevant actuarial assumptions would have affected the defined benefit obligations by the following amounts as of December 31, 2019: (In millions of won) Defined benefit obligation 1% increase 1% decrease Discount rate for defined benefit obligations W (194,432 ) 237,364 Expected rate of salary increase 233,106 (194,965 ) |
Defined benefit obligations [member] | |
Statement [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, 2018 and 2019 are as follows: (In millions of won) 2018 2019 Opening defined benefit obligations W 1,562,424 1,595,423 Current service cost 204,668 194,469 Past service cost (25,749 ) (32,006 ) Interest cost 49,145 42,360 Remeasurements (before tax) (27,885 ) (137,464 ) Benefit payments (88,562 ) (95,675 ) Curtailment of plans (74,459 ) (80,470 ) Net transfers from (to) related parties (4,217 ) (5,349 ) Others 58 51 Closing defined benefit obligations W 1,595,423 1,481,339 Weighted average remaining maturity of defined benefit obligations as of December 31, 2018 and 2019 are 14.4 years and 15.1 years, respectively. |
Fair value of plan assets [member] | |
Statement [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, 2018 and 2019 are as follows: (In millions of won) 2018 2019 Opening fair value of plan assets W 1,466,977 1,550,063 Expected return on plan assets 48,184 41,826 Remeasurements (before tax) (22,195 ) (8,824 ) Contributions by employer directly to plan assets 212,224 186,641 Benefit payments (80,690 ) (82,266 ) Net transfers from (to) related parties — 280 Curtailment of plans (74,437 ) (80,467 ) Closing fair value of plan assets W 1,550,063 1,607,253 |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Changes in Provisions | (a) Changes in provisions for the year ended December 31, 2018 are as follows: (In millions of won) Litigations and claims Warranties(*) Others Total Balance at January 1, 2018 W 43 102,450 1,835 104,328 Adjustment from adoption of IFRS 15 — — 9,789 9,789 Additions (reversals) — 234,928 (2,694 ) 232,234 Usage (43 ) (215,290 ) — (215,333 ) Balance at December 31, 2018 W — 122,088 8,930 131,018 Current W — 89,324 8,930 98,254 Non-current W — 32,764 — 32,764 (b) Changes in provisions for the year ended December 31, 2019 are as follows: (In millions of won) Litigations Warranties (*) Others Total Balance at January 1, 2019 W — 122,088 8,930 131,018 Additions 3,073 418,942 17,451 439,466 Usage (3,073 ) (310,768 ) — (313,841 ) Balance at December 31, 2019 W — 230,262 26,381 256,643 Current W — 163,144 26,381 189,525 Non-current W — 67,118 — 67,118 |
Other Liabilities (Tables)
Other Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Other Liabilities | Other liabilities at the reporting date are as follows: (In millions of won) December 31, 2018 December 31, 2019 Current liabilities Withholdings W 30,970 28,376 Unearned revenues 43,841 44,333 Security deposits 165 9,310 W 74,976 82,019 Non-current Long-term accrued expenses W 80,817 78,537 Long-term other accounts payable 3,103 1,069 Long-term advances received 2,116 6,852 Security deposits 10,790 1,690 W 96,826 88,148 |
Contingent Liabilities and Co_2
Contingent Liabilities and Commitments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Maximum Amount of Accounts Receivables Sales and Amount of Sold Accounts Receivables before Maturity by Contract | 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 KRW) Classification Financial institutions Credit limit Not yet due Contractual KRW Contractual KRW Controlling Company Shinhan Bank KRW USD 90,000 25 90,000 28,945 — — — — Sumitomo Mitsui Banking Corporation USD 20 23,156 — — Bank of Tokyo-Mitsubishi UFJ KRW 130,000 130,000 — — USD 70 81,046 USD 4 4,640 BNP Paribas USD 125 144,725 USD 18 20,888 ING Bank USD 150 173,670 — — USD 390 USD 22 KRW 220,000 671,542 — 25,528 Subsidiaries LG Display Singapore Pte. Ltd. Standard Chartered Bank USD 300 347,340 — — LG Display Taiwan Co., Ltd. BNP Paribas USD 15 17,367 — — Australia and New Zealand Banking Group Ltd. USD 70 81,046 — — Taishin International Bank USD 280 324,184 USD 20 23,157 LG Display Germany GmbH Citibank USD 80 92,624 — — BNP Paribas USD 75 86,835 — — DZ Bank AG USD 4 4,229 USD 2 1,859 Commerzbank AG USD 3 4,030 USD 4 4,142 UniCredit Bank USD 23 26,099 USD 3 3,827 LG Display America, Inc. Hong Kong & Shanghai Banking Corp. USD 800 926,240 USD 749 867,424 Standard Chartered Bank USD 600 694,680 — — Sumitomo Mitsui Banking Corporation USD 200 231,560 — — USD 2,450 2,836,234 USD 778 900,409 USD 2,840 USD 800 KRW 220,000 3,507,776 — 925,937 |
Capital and Reserves (Tables)
Capital and Reserves (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Reserves at Reporting Date | Reserves at the reporting date are as follows: (In millions of won) December 31, 2018 December 31, 2019 Foreign currency translation differences for foreign operations W (272,474 ) (178,452 ) Other comprehensive loss from associates (excluding remeasurements of net defined benefit liabilities) (28,494 ) (24,569 ) W (300,968 ) (203,021 ) |
Change in Reserves | The movement in reserves for the years ended December 31, 2017, 2018 and 2019 are as follows: (In millions of won) Foreign currency Other comprehensive income Total January 1, 2017 W (59,042 ) (29,436 ) (88,478 ) Change in reserves (200,707 ) 905 (199,802 ) December 31, 2017 (259,749 ) (28,531 ) (288,280 ) January 1, 2018 (259,749 ) (28,531 ) (288,280 ) Change in reserves (12,725 ) 37 (12,688 ) December 31, 2018 (272,474 ) (28,494 ) (300,968 ) January 1, 2019 (272,474 ) (28,494 ) (300,968 ) Change in reserves 94,022 3,925 97,947 December 31, 2019 (178,452 ) (24,569 ) (203,021 ) |
Geographic and Other Informat_2
Geographic and Other Information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Revenue and Non-current Assets by Geography | The following is a summary of the Group’s revenue by region based on the location of customers for the years ended December 31, 2017, 2018 and 2019. (a) Revenue by geography (In millions of won) 2017 2018 2019 Domestic W 1,996,183 1,589,452 1,264,639 Foreign China 18,090,974 15,242,533 15,432,503 Asia (excluding China) 2,383,390 2,481,112 2,404,739 United States 2,724,714 2,462,918 1,940,321 Europe (excluding Poland) 1,433,126 1,496,138 1,475,942 Poland 1,161,829 1,064,418 957,423 25,794,033 22,747,119 22,210,928 W 27,790,216 24,336,571 23,475,567 Sales to Company A and Company B amount to W W W W W W end-brand (b) Non-current (In millions of won) December 31, 2018 December 31, 2019 Property, plant Intangible assets Property, plant Intangible assets Domestic W 14,984,688 816,808 12,764,240 708,047 Foreign China 5,049,216 12,332 7,391,279 34,337 Others 1,566,226 158,502 1,932,126 131,064 W 6,615,442 170,834 9,323,405 165,401 W 21,600,130 987,642 22,087,645 873,448 |
Revenue by Product and Services | (c) Revenue by product and services (In millions of won) 2017 2018 2019 Televisions W 11,717,982 9,727,260 7,998,137 Desktop monitors 4,393,482 4,040,025 4,028,007 Tablet products 2,369,634 1,990,766 2,251,049 Notebook computers 2,244,088 2,836,888 2,783,718 Mobile and others 7,065,030 5,741,632 6,414,656 W 27,790,216 24,336,571 23,475,567 |
The Nature of Expenses and Ot_2
The Nature of Expenses and Others (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Classification of Expenses by Nature | The classification of expenses by nature for the years ended December 31, 2017, 2018 and 2019 are as follows: (In millions of won) 2017 2018 2019 Changes in inventories W (62,299 ) (341,120 ) 640,048 Purchases of raw materials, merchandise and others 13,548,848 12,863,812 12,580,796 Depreciation and amortization 3,214,576 3,554,565 3,695,051 Outsourcing 771,697 825,393 865,935 Labor 3,258,427 3,222,110 3,072,877 Supplies and others 1,239,915 1,010,352 813,262 Utility 865,347 899,075 896,112 Fees and commissions 692,125 722,134 695,245 Shipping 249,820 240,288 196,002 Advertising 236,440 112,400 193,436 Warranty 251,131 234,928 418,942 Travel 92,976 104,009 95,074 Taxes and dues 91,806 123,210 109,473 Impairment loss on property, plant, and equipment — 43,601 1,550,430 Impairment loss on intangible assets 1,809 82 249,450 Others 917,242 713,990 625,504 W 25,369,860 24,328,829 26,697,637 Total expenses consist of cost of sales, selling, administrative, 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, 2019 | |
Text block [abstract] | |
Details of Selling and Administrative Expenses | Details of selling and administrative expenses for the years ended December 31, 2017, 2018, and 2019 are as follows: (In millions of won) 2017 2018 2019 Salaries(*1) W 327,288 500,610 514,736 Expenses related to defined benefit plans(*2) 27,401 30,724 29,018 Other employee benefits 94,740 90,348 77,690 Shipping 214,866 200,434 162,509 Fees and commissions 197,070 221,050 219,784 Depreciation 138,711 174,575 225,909 Taxes and dues 46,317 65,621 49,826 Advertising 236,440 112,400 193,436 Warranty 251,131 234,928 418,942 Rent 26,711 26,691 2,887 Insurance 12,459 11,584 11,386 Travel 27,879 24,659 23,594 Training 16,311 13,309 12,215 Others 73,181 65,343 63,799 W 1,690,505 1,772,276 2,005,731 (*1) Expenses recognized in relation to employee termination benefits for the years ended December 31, 2018 and 2019 amount to W W (*2) Expenses recognized in relation to employee defined contribution plan for the years ended December 31, 2018 and 2019 amount to W W |
Personnel Expenses (Tables)
Personnel Expenses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Details of Personnel Expenses | Details of personnel expenses for the years ended December 31, 2017, 2018 and 2019 are as follows: (In millions of won) 2017 2018 2019 Salaries and wages W 2,704,217 2,720,014 2,553,485 Other employee benefits 483,704 500,169 473,916 Contributions to National Pension plan 73,061 75,668 73,148 Expenses related to defined benefit plan and defined contribution plan(*) 198,241 180,737 163,757 W 3,459,223 3,476,588 3,264,306 (*) Expenses recognized in relation to employee defined contribution plan for the years ended December 31, 2018 and 2019 amount to W W |
Other Income and Other Expens_2
Other Income and Other Expenses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Other Income | (a) Details of other income for the years ended December 31, 2017, 2018 and 2019 are as follows: (In millions of won) 2017 2018 2019 Foreign currency gain W 969,425 970,306 1,174,376 Gain on disposal of property, plant and equipment 101,227 6,620 35,788 Gain on disposal of intangible assets 308 239 552 Reversal of impairment loss on intangible assets 35 348 960 Rental income 2,212 3,584 3,098 Gain on disposal of non-current — — 8,353 Others 8,539 23,040 44,124 W 1,081,746 1,004,137 1,267,251 |
Summary of Other Expenses | (b) Details of other expenses for the years ended December 31, 2017, 2018 and 2019 are as follows: (In millions of won) 2017 2018 2019 Foreign currency loss W 1,189,193 1,030,084 1,235,054 Other bad debt expenses 1,798 4 1,379 Loss on disposal of property, plant and equipment 20,030 15,048 40,897 Impairment loss on property, plant and equipment — 43,601 1,550,430 Loss on disposal of intangible assets 30 — 139 Impairment loss on intangible assets 1,809 82 249,450 Donations 17,152 7,698 693 Others 443 18,716 19,701 W 1,230,455 1,115,233 3,097,743 |
Finance Income and Finance Co_2
Finance Income and Finance Costs (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [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, 2017, 2018 and 2019 are as follows: (In millions of won) 2017 2018 2019 Finance income Interest income W 60,106 69,020 53,378 Foreign currency gain 210,890 160,989 135,006 Gain on disposal of investments in equity accounted investees 3,669 — 4,531 Reversal of impairment loss of investments in equity accounted investees — 802 1,744 Gain on transaction of derivatives 3,106 2,075 21,752 Gain on valuation of derivatives 1,070 13,059 59,781 Gain on disposal of available-for-sale 8 — — Gain on disposal of financial asset at fair value through profit or loss — — 138 Gain on valuation of financial asset at fair value through profit or loss 170 8,186 402 W 279,019 254,131 276,732 Finance costs Interest expense W 90,538 80,517 172,750 Foreign currency loss 126,642 184,309 154,421 Loss on disposal of investments in equity accounted investees 42,112 595 — Loss on impairment of investments in equity accounted investees 4,234 17,397 5,123 Loss on sale of trade accounts and notes receivable 784 13,361 19,728 Loss on transaction of derivatives 514 49 — Loss on valuation of derivatives — 26,600 17,999 Loss on impairment of available-for-sale 1,948 — — Loss on valuation of financial asset at fair value through profit or loss — 225 4,630 Loss on valuation of financial liabilities at fair value through profit or loss — — 56,384 Others 2,084 3,840 12,212 W 268,856 326,893 443,247 |
Finance Income and Costs Recognized in Other Comprehensive Income or Loss | (b) Finance income and costs recognized in other comprehensive income or loss for the years ended December 31, 2017, 2018 and 2019 are as follows: (In millions of won) 2017 2018 2019 Foreign currency translation differences for foreign operations W (231,738 ) (19,987 ) 106,690 Finance income (costs) recognized in other comprehensive income (loss) after tax W (231,738 ) (19,987 ) 106,690 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Details of Income Tax Expense (Benefit) | (a) Details of income tax expense (benefit) for the years ended December 31, 2017, 2018 and 2019 are as follows: (In millions of won) 2017 2018 2019 Current tax expense Current year W 512,123 167,394 193,691 Adjustment for prior years — 82,225 (35,787 ) W 512,123 249,619 157,904 Deferred tax expense (benefit) Origination and reversal of temporary differences W (104,835 ) (226,360 ) (963,385 ) Change in unrecognized deferred tax assets (11,708 ) 64,818 333,317 W (116,543 ) (161,542 ) (630,068 ) Income tax expense (benefit) W 395,580 88,077 (472,164 ) |
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, 2017, 2018, and 2019 are as follows: (In millions of won) 2017 Before tax Tax benefit Net of tax Remeasurements of net defined benefit liabilities (assets) W (16,260 ) 9,259 (7,001 ) Foreign currency translation differences for foreign operations (231,738 ) — (231,738 ) Change in equity of equity method investee 1,346 — 1,346 W (246,652 ) 9,259 (237,393 ) (In millions of won) 2018 Before tax Tax expense Net of tax Remeasurements of net defined benefit liabilities (assets) W 5,690 (1,169 ) 4,521 Foreign currency translation differences for foreign operations (19,987 ) — (19,987 ) Change in equity of equity method investee 57 — 57 W (14,240 ) (1,169 ) (15,409 ) (In millions of won) 2019 Before tax Tax expense Net of tax Remeasurements of net defined benefit liabilities (assets) W 128,640 (35,235 ) 93,405 Foreign currency translation differences for foreign operations 106,690 — 106,690 Change in equity of equity method investee 4,163 — 4,163 W 239,493 (35,235 ) 204,258 |
Reconciliation of Actual Effective Tax Rate | (c) Reconciliation of the actual effective tax rate for the years ended December 31, 2017, 2018, and 2019 is as follows: (In millions of won) 2017 2018 2019 Profit (loss) before income taxes W 2,332,632 (91,366 ) (3,344,242 ) Income tax expense ( benefit 28.54 % 665,733 (33.60 %) 30,695 23.94 % (800,660 ) Non-deductible 2.72 % 63,416 (40.07 %) 36,608 (0.95 %) 31,649 Tax credits (10.64 %) (248,191 ) 117.27 % (107,146 ) 1.47 % (49,269 ) Change in unrecognized deferred tax assets (0.50 %) (11,708 ) (70.94 %) 64,818 (9.97 %) 333,318 Adjustment for prior years(*1) — — (90.00 %) 82,225 1.07 % (35,787 ) Effect on change in tax rate (3.10 %) (72,376 ) 15.68 % (14,326 ) (0.40 %) 13,353 Others (0.06 %) (1,294 ) 5.25 % (4,797 ) (1.05 %) 35,232 Actual income tax expense (benefit) W 395,580 88,077 (472,164 ) Actual effective tax rate 16.96 % (*2 ) (*2 ) (*1) Consist of changes in tax credits in amended tax returns and expected amount of income tax adjustment in relation to the transfer price investigation and others (*2) Actual effective tax rate are not calculated due to loss before income tax for 2018 and 2019. |
Deferred Tax Assets and Liabi_2
Deferred Tax Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary Of Unused Tax Credit Carryforwards | As of December 31, 2019, 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, December 31, December 31, December 31, December 31, Tax credit carryforwards W 549,056 44,692 70,646 220,135 114,845 98,738 |
Details of Deferred Tax Assets and Liabilities | (c) Deferred tax assets and liabilities are attributable to the following: (In millions of won) Assets Liabilities Total December 31, December 31, December 31, December 31, December 31, December 31, Other accounts receivable, net W — — (1,013 ) (4,364 ) (1,013 ) (4,364 ) Inventories, net 60,606 89,522 — — 60,606 89,522 Investments in subsidiaries and associates 13,404 — — (20,015 ) 13,404 (20,015 ) Accrued expenses 126,072 131,196 — — 126,072 131,196 Property, plant and equipment 445,721 691,599 (1,495 ) (21,690 ) 444,226 669,909 Intangible assets 3,468 21,886 (14,588 ) (10,759 ) (11,120 ) 11,127 Provisions 32,468 59,875 — (4,446 ) 32,468 55,429 Gain or loss on foreign currency translation, net 13 — — — 13 — Others 20,850 137,667 (7,665 ) (328 ) 13,185 137,339 Tax loss carryforwards 134,845 607,432 — — 134,845 607,432 Tax credit carryforwards 308,393 38,337 — — 308,393 38,337 Deferred tax assets (liabilities) W 1,145,840 1,777,514 (24,761 ) (61,602 ) 1,121,079 1,715,912 |
Changes in Deferred Tax Assets and Liabilities | (d) Changes in deferred tax assets and liabilities for the years ended December 31, 2018 and 2019 are as follows: (In millions of won) January 1, Profit or Other December 31, Profit or Other December 31, Other accounts receivable, net W (1,441 ) 428 — (1,013 ) (3,351 ) — (4,364 ) Inventories, net 34,550 26,056 — 60,606 28,916 — 89,522 Defined benefit liabilities, net 2,375 (1,206 ) (1,169 ) — 35,235 (35,235 ) — Subsidiaries and associates 29,061 (15,657 ) — 13,404 (33,419 ) — (20,015 ) Accrued expenses 183,903 (57,831 ) — 126,072 5,124 — 131,196 Property, plant and equipment 409,928 34,298 — 444,226 225,683 — 669,909 Intangible assets (21,189 ) 10,069 — (11,120 ) 22,247 — 11,127 Provisions 27,018 5,450 — 32,468 22,961 — 55,429 Gain or loss on foreign currency translation, net 13 — — 13 (13 ) — — Others 27,562 (14,377 ) — 13,185 124,154 — 137,339 Tax loss carryforwards — 134,845 — 134,845 472,587 — 607,432 Tax credit carryforwards 268,926 39,467 — 308,393 (270,056 ) — 38,337 Deferred tax assets (liabilities) W 960,706 161,542 (1,169 ) 1,121,079 630,068 (35,235 ) 1,715,912 |
Earnings (Loss) Per Share Att_2
Earnings (Loss) Per Share Attributable to Owners of the Controlling Company (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Basic Earnings per Share | (a) Basic earnings (loss) per share for the years ended December 31, 2017, 2018 and 2019 are as follows: (In won and No. of shares) 2017 2018 2019 Profit (loss) attributable to owners of the Controlling Company W 1,802,756,119,275 (207,239,484,774 ) (2,829,705,069,665 ) Weighted-average number of common stocks outstanding 357,815,700 357,815,700 357,815,700 Earnings (loss) per share W 5,038 (579 ) (7,908 ) |
Financial Risk Management (Tabl
Financial Risk Management (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Statement [line Items] | |
Exposure to Market Risks | The Group’s exposure to foreign currency risk based on notional amounts at the reporting date is as follows: (In millions) December 31, 2018 USD JPY CNY TWD EUR PLN VND Cash and cash equivalents 790 83 5,515 121 8 206 2,070,889 Trade accounts and notes receivable 2,175 7 1,098 — — — — Non-trade 21 852 201 3 4 — 23,182 Other assets denominated in foreign currencies 33 220 11,157 108 12 23 2,782 Trade accounts and notes payable (863 ) (12,501 ) (2,862 ) — — — (355,390 ) Other accounts payable (928 ) (20,326 ) (4,762 ) (6 ) (3 ) (4 ) (1,585,130 ) Financial liabilities (2,571 ) — (5,198 ) — — — — Aggregate notional amounts in the consolidated statements of financial position (1,343 ) (31,665 ) 5,149 226 21 225 156,333 Currency swap contracts 780 — — — — — — Net exposure (563 ) (31,665 ) 5,149 226 21 225 156,333 (In millions) December 31, 2019 USD JPY CNY TWD EUR PLN VND Cash and cash equivalents 1,594 68 8,360 33 5 25 28,663 Trade accounts and notes receivable 2,485 19 550 — — — — Non-trade 276 455 230 3 2 — 13,131 Other assets denominated in foreign currencies 29 526 5,668 369 5 503 4,032 Trade accounts and notes payable (628 ) (9,043 ) (2,289 ) — — — (291,891 ) Other accounts payable (488 ) (12,396 ) (3,239 ) (4 ) (10 ) — (786,356 ) Financial liabilities (4,255 ) — (20,436 ) — — — — Aggregate notional amounts in the consolidated statements of financial position (987 ) (20,371 ) (11,156 ) 401 2 528 (1,032,421 ) Currency swap contracts 2,085 — — — — — — Net exposure 1,098 (20,371 ) (11,156 ) 401 2 528 (1,032,421 ) |
Average Exchange Rates Applied during Reporting Periods | Average exchange rates applied for the years ended December 31, 2017, 2018 and 2019 and the exchange rates at December 31, 2018 and 2019 are as follows: (In won) Average rate Reporting date spot rate 2017 2018 2019 December 31, December 31, USD W 1,131.08 1,100.21 1,165.46 1,118.10 1,157.80 JPY 10.09 9.96 10.70 10.13 10.63 CNY 167.52 166.41 168.56 162.76 165.74 TWD 37.16 36.51 37.74 36.58 38.48 EUR 1,277.01 1,298.53 1,304.52 1,279.16 1,297.43 PLN 299.98 304.87 303.62 297.33 304.87 VND 0.0498 0.0478 0.0502 0.0482 0.0500 |
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, 2018 and 2019 are as follows: (In millions of won) December 31, 2018 December 31, 2019 Financial assets carried at amortized cost Cash and cash equivalents W 2,365,022 3,336,003 Deposits in banks 78,411 78,768 Trade accounts and notes receivable, net 2,829,163 3,154,080 Non-trade 159,238 463,614 Accrued income 10,075 10,434 Deposits 91,123 31,036 Short-term loans 16,116 21,623 Long-term 55,048 40,827 Long-term non-trade 11,448 9,072 Lease receivables — 27,794 W 5,615,644 7,173,251 Financial assets at fair value through profit or loss Convertible bonds W 1,327 1,544 Derivatives 13,059 49,676 W 14,386 51,220 Financial assets at fair value through other comprehensive income Debt instruments W 161 76 W 5,630,191 7,224,547 |
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, 2019. (In millions of won) Contractual cash flows in Carrying Total 6 months 6-12 1-2 2-5 More than Non-derivative Borrowings W 10,329,671 11,514,568 1,174,941 723,363 2,173,444 6,471,876 970,944 Bonds 3,151,218 3,306,729 297,649 184,878 908,281 1,780,014 135,907 Trade accounts and notes payable 2,618,261 2,618,261 2,618,261 — — — — Other accounts payable 2,069,105 2,069,105 2,068,039 1,066 — — — Other accounts payable (enterprise procurement cards)(*) 2,328,016 2,353,355 1,287,023 1,066,332 — — — Long-term other accounts payable 1,069 1,069 — — 1,069 — — Security deposits received 11,000 11,000 3,980 5,330 1,690 — — Lease liabilities 88,512 97,562 26,702 14,543 22,931 23,096 10,290 Derivative financial liabilities Derivatives W 20,592 (13,101 ) — — (4,870 ) (8,231 ) — W 20,617,444 21,958,548 7,476,595 1,995,512 3,102,545 8,266,755 1,117,141 |
Summary of 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, 2018 December 31, 2019 Total liabilities W 18,289,464 23,086,282 Total equity 14,886,246 12,488,281 Cash and deposits in banks(*1) 2,443,422 3,414,760 Borrowings (including bonds) 8,558,777 13,480,889 Total liabilities to equity ratio 123 % 185 % Net borrowings to equity ratio(*2) 41 % 81 % (*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) less cash and current deposits in banks by total equity. |
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, 2018 and 2019 are as follows: (In millions of won) December 31, 2018 December 31, 2019 Carrying Fair values Carrying Fair values Financial assets carried at amortized cost Cash and cash equivalents W 2,365,022 (*) 3,336,003 (*) Deposits in banks 78,411 (*) 78,768 (*) Trade accounts and notes receivable 2,829,163 (*) 3,154,080 (*) Non-trade 159,238 (*) 463,614 (*) Accrued income 10,075 (*) 10,434 (*) Deposits 91,123 (*) 31,036 (*) Short-term loans 16,116 (*) 21,623 (*) Long-term 55,048 (*) 40,827 (*) Long-term non-trade 11,448 (*) 9,072 (*) Lease receivables — — 27,794 (*) Financial assets at fair value through profit or loss Equity instruments W 13,681 13,681 9,879 9,879 Convertible bonds 1,327 1,327 1,544 1,544 Derivatives 13,059 13,059 49,676 49,676 Financial assets at fair value through other comprehensive income Debt instruments W 161 161 76 76 Financial liabilities at fair value through profit or loss Derivatives W 25,758 25,758 20,592 20,592 Convertible bonds — — 858,385 858,385 Financial liabilities carried at amortized cost Borrowings W 6,226,520 6,281,996 10,329,671 10,394,498 Bonds 2,332,257 2,384,987 2,292,833 2,345,867 Trade accounts and notes payable 3,087,461 (*) 2,618,261 (*) Other accounts payable 3,566,629 (*) 4,397,121 (*) Long-term other accounts payable 3,103 (*) 1,069 (*) Security deposits received 10,955 (*) 11,000 (*) Lease liabilities — — 88,512 (*) |
Fair Value Hierarchy Classifications of Financial Instruments Measured at Fair Value | Fair value hierarchy classifications of the financial instruments that are measured at fair value as of December 31, 2018 and 2019 are as follows: (In millions of won) Level 1 Level 2 Level 3 Total December 31, 2018 Financial assets at fair value through profit or loss Equity instruments W — — 13,681 13,681 Convertible bonds — — 1,327 1,327 Derivatives — — 13,059 13,059 Financial asset at fair value through other comprehensive income Debt instruments W 161 — — 161 Financial liabilities at fair value through profit or loss Derivatives W — — 25,758 25,758 (In millions of won) Level 1 Level 2 Level 3 Total December 31, 2019 Financial assets at fair value through profit or loss Equity instruments W — — 9,879 9,879 Convertible bonds — — 1,544 1,544 Derivatives — — 49,676 49,676 Financial asset at fair value through other comprehensive income Debt instruments W 76 — — 76 Financial liabilities at fair value through profit or loss Derivatives W — — 20,592 20,592 Convertible bonds 858,385 — — 858,385 |
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, 2018 and December 31, 2019 are as follows: (In millions of won) December 31, 2018 Valuation Input Classification Level 1 Level 2 Level 3 Liabilities Borrowings W — — 6,281,996 Discounted cash Discount Bonds — — 2,384,987 Discounted cash Discount (In millions of won) December 31, 2019 Valuation Input Classification Level 1 Level 2 Level 3 Liabilities Borrowings W — — 10,394,498 Discounted cash Discount Bonds — — 2,345,867 Discounted cash Discount The interest rates applied for determination of the above fair value at the reporting date are as follows: December 31, 2018 December 31, 2019 Borrowings, bonds and others 2.09~3.37 % 1.87~3.56 % |
Currency risk [member] | |
Statement [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, 2018 and 2019, 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 as of 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, 2018 December 31, 2019 Equity Profit or loss Equity Profit or loss USD (5 percent weakening) W (46,136 ) 38,725 23,570 105,398 JPY (5 percent weakening) (12,060 ) (10,497 ) (8,397 ) (6,418 ) CNY (5 percent weakening) 41,779 318 (92,454 ) 11 TWD (5 percent weakening) 413 1 772 — EUR (5 percent weakening) 1,197 390 221 (278 ) PLN (5 percent weakening) 3,451 (236 ) 8,036 28 VND (5 percent weakening) 273 273 (1,871 ) (1,871 ) |
Interest rate risk [Member] | |
Statement [line Items] | |
Exposure to Market Risks | The interest rate profile of the Group’s interest-bearing financial instruments at the reporting date is as follows: (In millions of won) December 31, 2018 December 31, 2019 Fixed rate instruments Financial assets W 2,443,583 3,414,838 Financial liabilities (5,033,515 ) (6,066,554 ) W (2,589,932 ) (2,651,716 ) Variable rate instruments Financial liabilities W (3,525,262 ) (7,414,336 ) |
Sensitivity Analysis for Each Type of Market Risk | For the years ended December 31, 2018 and 2019 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 years. This analysis assumes that all other variables, in particular foreign currency rates, remain constant. (In millions of won) Equity Profit or loss 1%p increase 1%p decrease 1%p increase 1%p decrease December 31, 2018 Variable rate instruments(*) W (25,558 ) 25,558 (25,558 ) 25,558 December 31, 2019 Variable rate instruments(*) W (38,774 ) 38,774 (38,774 ) 38,774 |
Leases - (Tables)
Leases - (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Disclosure of quantitative information about right-of-use assets [text block] | On adoption of IFRS 16, the Group recognized additional right-of-use ( In millions of won ) January 1, 2019 Right-of-use W 142,040 Prepaid expenses (61,570 ) Lease receivable 34,649 Lease liabilities 115,119 |
Disclosure of lease related income and expenses | (ii) Amounts recognized in profit or loss other than right-of-use (In millions of won) December 31, 2019 Interest on lease liabilities W (4,085 ) Income from sub-leasing right-of-use 1,079 Expenses relating to short-term leases (1,783 ) Expenses relating to leases of low-value low-value (1,188 ) |
Schedule of lease liabilities | (iii) Lease liabilities (In millions of won) December 31, 2019 Balance at January 1, 2019 W 115,119 Additions 33,878 Interest expense 4,085 Repayment of liabilities (64,570 ) Balance at December 31, 2019 88,512 |
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. Under IAS 17, the Group did not have any finance leases as a lessor. (In millions of won) December 31, 2019 6 months or less W 3,282 6-12 3,282 1-2 6,563 2-5 16,956 Total undiscounted lease receivable 30,083 Unearned finance income (2,289 ) Net Investment in the lease 27,794 |
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 (In millions of won) Buildings Land Machinery and Vehicles Others Total Balance at January 1, 2019 W 75,777 53,960 1,111 10,800 392 142,040 Addition 19,743 1,890 2,882 4,971 247 29,733 Depreciation (39,376 ) (2,272 ) (1,305 ) (7,760 ) (350 ) (51,063 ) Derecognition of right-of-use (3,056 ) — (538 ) — — (3,594 ) Impairment (248 ) (3,833 ) (20 ) (193 ) (8 ) (4,302 ) Gain or loss on foreign currency translation 373 9 17 30 7 436 Balance at December 31, 2019 W 53,213 49,754 2,147 7,848 288 113,250 |
Changes in liabilities arisin_2
Changes in liabilities arising from financing activities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Changes in liabilities arising from financing activities | Changes in liabilities arising from financing activities for the year ended December 31, 2019 are as follows: (In millions of won) January 1, Non-cash Cash flows Reclassification Gain or loss on Effective Others December 31, 2019 Short-term borrowings W — 686,097 — 10,696 — — 696,793 Current portion of long-term borrowings and bonds 1,553,907 (1,567,818 ) 1,237,344 18,887 584 — 1,242,904 Long-term borrowings 5,232,271 4,341,087 (827,883 ) 54,202 — — 8,799,677 Bonds 1,772,599 1,323,251 (409,461 ) (20,351 ) 10,568 64,910 2,741,516 Lease liabilities 115,119 (64,570 ) — 1,849 4,085 32,029 88,512 W 8,673,896 4,718,047 — 65,283 15,237 96,939 13,569,402 |
Related Parties and Others (Tab
Related Parties and Others (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [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, 2017, 2018 and 2019 are as follows: (In millions of won) 2017 Sales and others Purchase and others Dividend Purchase of Acquisition of Outsourcing Other Associates and their subsidiaries New Optics Ltd.(*) W 1 — — — 4 6 INVENIA Co., Ltd. — — 1,862 66,548 — 2,259 AVATEC Co., Ltd. — 530 — — 90,785 720 Paju Electric Glass Co., Ltd. — 8,109 380,815 — — 4,225 Shinbo Electric Co., Ltd.(*) 15,812 — — — — 21 Narenanotech Corporation(*) — — 279 21,727 — 244 WooRee E&L Co., Ltd. — — — — — 175 YAS Co., Ltd. — — 6,347 69,243 — 2,474 W 15,813 8,639 389,303 157,518 90,789 10,124 Entity that has significant influence over the Controlling Company LG Electronics Inc. W 1,689,381 — 47,898 906,427 — 109,865 Subsidiaries of the entity that has significant influence over the Controlling Company LG Electronics India Pvt. Ltd. W 71,597 — — — — 163 LG Electronics Vietnam Haiphong Co., Ltd. 205,934 — — 8,892 — 198 LG Electronics Nanjing New Technology Co., Ltd. W 300,785 — — 245 — 379 LG Electronics RUS, LLC 103,479 — — — — 963 LG Electronics do Brasil Ltda. 228,821 — — — — 430 LG Innotek Co., Ltd. 14,836 — 199,896 — — 5,692 Qingdao LG Inspur Digital Communication Co., Ltd. 77,787 — — — — — Inspur LG Digital Mobile Communications Co., Ltd. 230,832 — — — — — LG Electronics Mexicalli, S.A. DE C.V. 319,772 — — — — 186 LG Electronics Mlawa Sp. z o.o. 847,565 — — — — 985 LG Electronics Taiwan Taipei Co., Ltd. 13,693 — — — — 164 LG Hitachi Water Solutions Co., Ltd. — — — 318,978 — 1,532 LG Electronics Reynosa, S.A. DE C.V. 1,287,340 — — — — 1,926 LG Electronics Almaty Kazakhstan 14,079 — — — — 53 LG Electronics Air-Conditioning — — 255 3,744 — 2,621 HiEntech Co., Ltd. — — — 6,991 — 34,432 Hientech (Tianjin) Co., Ltd. — — — 21,838 — 11,822 LG Electronics S.A. (Pty) Ltd. 14,155 — — — — 25 Others 857 — 3 14 — 7,264 W 3,731,532 — 200,154 360,702 — 68,835 W 5,436,726 8,639 637,355 1,424,647 90,789 188,824 (*) Represents transactions occurred prior to disposal of the entire investments. 2018 Purchase and others (In millions of won) Sales and others Dividend Purchase of Acquisition of Outsourcing Other costs Associates and their subsidiaries INVENIA Co., Ltd. — 30 1,608 58,111 — 896 AVATEC Co., Ltd. — 530 — — 71,403 905 Paju Electric Glass Co., Ltd. — 4,172 364,183 — — 4,411 WooRee E&L Co., Ltd. — — 58 — — 144 YAS Co., Ltd. — — 5,281 143,192 — 3,391 LB Gemini New Growth Fund No. 16(*) 1,112 540 — — — — W 1,112 5,272 371,130 201,303 71,403 9,747 Entity that has significant influence over the Controlling Company LG Electronics Inc. W 1,215,153 — 36,522 1,041,563 — 127,775 Subsidiaries of the entity that has significant influence over the Controlling Company LG Electronics India Pvt. Ltd. W 71,798 — — — — 103 LG Electronics Vietnam Haiphong Co., Ltd. 173,051 — — 4,541 — 166 LG Electronics Nanjing New Technology Co., Ltd. W 223,524 — — 424 — 1,528 LG Electronics RUS, LLC 106,631 — — — — 2,673 LG Electronics do Brasil Ltda. 192,775 — — — — 350 LG Innotek Co., Ltd. 29,267 — 147,453 — — 39,136 Qingdao LG Inspur Digital Communication Co., Ltd. 37,738 — — — — — Inspur LG Digital Mobile Communications Co., Ltd. 131,970 — — — — 1 LG Electronics Mexicalli, S.A. DE C.V. 187,844 — — — — 210 LG Electronics Mlawa Sp. z o.o. 740,784 — — — — 631 LG Electronics Taiwan Taipei Co., Ltd. 12,746 — — — — 330 LG Hitachi Water Solutions Co., Ltd. 9,100 — — 304,365 — 8,980 LG Electronics Reynosa, S.A. DE C.V. 1,030,414 — — — — 2,021 LG Electronics Almaty Kazakhstan 3,759 — — — — 42 LG Electronics Air-Conditioning — — 330 26,871 — 7,264 HiEntech Co., Ltd. — — — 22,378 — 29,215 Hientech (Tianjin) Co., Ltd. — — — 92,900 — 23,880 LG Electronics S.A. (Pty) Ltd. 7,244 — — — — 20 LG Electronics Egypt S.A.E. 25,491 — — — — 16 Others 5,195 — 28 15 — 11,480 W 2,989,331 — 147,811 451,494 — 128,046 W 4,205,596 5,272 555,463 1,694,360 71,403 265,568 (*) Represents transactions occurred prior to the Group’s disposal of the entire investments. 2019 Purchase and others (In millions of won) Sales and others Dividend Purchase of Acquisition of Outsourcing Other costs Associates and their subsidiaries INVENIA Co., Ltd.(*1) W — 180 1,024 45,580 — 297 AVATEC Co., Ltd. 2,639 265 — — 73,323 891 Paju Electric Glass Co., Ltd. — 6,057 342,958 — — 4,416 WooRee E&L Co., Ltd. — — 6,441 — — 5 YAS Co., Ltd. — 1,000 6,764 102,316 — 3,655 Material Science Co., Ltd. — — 59 — — 313 W 2,639 7,502 357,246 147,896 73,323 9,577 Entity that has significant influence over the Controlling Company LG Electronics Inc. W 947,409 — 13,240 815,629 — 153,212 Subsidiaries of the entity that has significant influence over the Controlling Company LG Electronics India Pvt. Ltd. W 87,116 — — — — 194 LG Electronics Vietnam Haiphong Co., Ltd. 277,743 — — 3,019 — 924 LG Electronics Nanjing New Technology Co., Ltd. 297,033 — — 31 — 486 LG Electronics RUS, LLC 100,894 — — — — 1,972 LG Electronics do Brasil Ltda. W 145,546 — — — — 289 LG Innotek Co., Ltd. 7,572 — 53,886 — — 79,162 Qingdao LG Inspur Digital Communication Co., Ltd. 22,563 — — — — — Inspur LG Digital Mobile Communications Co., Ltd. 41,858 — — — — — LG Electronics Mexicalli, S.A. DE C.V. 114,520 — — — — 85 LG Electronics Mlawa Sp. z o.o. 618,715 — — — — 1,967 LG Hitachi Water Solutions Co., Ltd.(*2) — — — 79,986 — — LG Electronics Reynosa, S.A. DE C.V. 722,194 — — — — 1,155 LG Electronics Air-Conditioning — — 444 14,527 — 88 HiEntech Co., Ltd.(*2) 47 — — 7,264 — 21,576 HiEntech (Tianjin) Co., Ltd.(*2) — — — 32,335 — 15,423 LG Electronics Egypt S.A.E. 97,359 — — — — 241 LG Electronics Alabama Inc. 12,869 — — — — — LG Electronics Japan, Inc. — — — 14 — 6,236 P.T. LG Electronics Indonesia 11,200 — — — — 176 Others 12,564 — — 33 — 6,996 W 2,569,793 — 54,330 137,209 — 136,970 W 3,519,841 7,502 424,816 1,100,734 73,323 299,759 (*1) Represents transactions occurred prior to the Group’s disposal of the entire investments (*2) Represents transactions occurred prior to LG Electronics Inc.’s disposal of the entire investments. (c) Trade accounts and notes receivable and payable as of December 31, 2018 and 2019 are as follows: Trade accounts and notes receivable and others Trade accounts and notes payable and others (In millions of won) December 31, 2018 December 31, 2019 December 31, 2018 December 31, 2019 Associates INVENIA Co., Ltd.(*) 2,000 — 30,179 — AVATEC Co., Ltd. — — 4,382 1,029 Paju Electric Glass Co., Ltd. — — 60,566 62,853 WooRee E&L Co., Ltd. — — 7 1,888 YAS Co., Ltd. — — 6,145 27,489 Material Science Co., Ltd. — — — 8 W 2,000 — 101,279 93,267 Entity that has significant influence over the Controlling Company LG Electronics Inc. W 247,679 209,939 430,677 157,713 Subsidiaries of the entity that has significant influence over the Controlling Company LG Electronics India Pvt. Ltd. W 9,047 6,113 29 — LG Electronics Vietnam Haiphong Co., Ltd. 25,544 47,740 — 75 LG Electronics Nanjing New Technology Co., Ltd. 43,463 55,343 139 49 LG Electronics RUS, LLC 22,570 17,600 90 83 LG Electronics do Brasil Ltda. 15,608 14,805 62 26 LG Innotek Co., Ltd. 2,885 267 47,382 36,426 LG Electronics Mexicali, S.A. DE C.V. W 15,305 11,195 — 17 ( In millions of won ) Trade accounts and notes receivable and others Trade accounts and notes payable and others December 31, 2018 December 31, 2019 December 31, 2018 December 31, 2019 LG Electronics Mlawa Sp. z o.o. W 70,236 124,390 33 75 LG Electronics Reynosa, S.A. DE C.V. 69,189 82,927 134 62 LG Electronics Egypt S.A.E. 10,296 9,432 — — Qingdao LG Inspur Digital Communication Co., Ltd. 3,530 7,221 — — P.T. LG Electronics Indonesia — 7,696 — 16 Others 27,535 2,452 102,486 3,548 W 315,208 387,181 150,355 40,377 W 564,887 597,120 682,311 291,357 |
Details of Significant Cash Transactions of Loans and Collection of Loans Occurred in Normal Course of Business with Related Parties | (d) Details of significant cash transactions such as loans and collection of loans, which occurred in the normal course of business with related parties for the years ended December 31, 2018 and 2019 are as follows: (In millions of won) Loans(*) Associates January 1, 2018 Increase Decrease December 31, 2018 INVENIA Co., Ltd. W 2,375 — (375 ) 2,000 YAS Co., Ltd. 375 — (375 ) — W 2,750 — (750 ) 2,000 (*) Loans are presented based on nominal amounts. (In millions of won) Loans(*1) Associates January 1, 2019 Increase Decrease(*2) December 31, 2019 INVENIA Co., Ltd. W 2,000 1,000 (3,000 ) — (*1) Loans are presented based on nominal amounts. (*2) Excluded from related parties due to disposal of equity investments during the year ended December 31, 2019. |
Compensation Costs of Key Management | Compensation costs of key management for the years ended December 31, 2017, 2018 and 2019 are as follows: (In millions of won) 2017 2018 2019 Short-term benefits W 3,724 2,622 2,664 Expenses related to the defined benefit plan 488 794 553 W 4,212 3,416 3,217 |
Supplemental Cash Flow Inform_2
Supplemental Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Non-cash Investing and Financing Activities | Supplemental cash flow information for the years ended December 31, 2017, 2018 and 2019 is as follows: (In millions of won) 2017 2018 2019 Non-cash Changes in other accounts payable arising from the purchase of property, plant and equipment W 632,355 516,734 (1,333,967 ) Recognition of right - - — — 29,733 |
Non-current Assets Held for S_2
Non-current Assets Held for Sale (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Schedule of Non-current Assets as Held for Sale | Non-current (In millions of won) December 31, 2019 Property, plant and equipment W 0 |
Reporting Entity - Additional I
Reporting Entity - Additional Information (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of reporting entity [line items] | |||
Distributed dividends from consolidated subsidiaries | ₩ 178,908 | ₩ 178,908 | |
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 | 19,545,920 | ||
Consolidated subsidiaries [member] | |||
Disclosure of reporting entity [line items] | |||
Distributed dividends from consolidated subsidiaries | ₩ 11,120 | ₩ 90,281 | ₩ 603,493 |
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, zł in Millions, $ in Millions, $ in Millions | 12 Months Ended | |||||||||
Dec. 31, 2019KRW (₩) | Dec. 31, 2018KRW (₩) | Dec. 31, 2019USD ($) | Dec. 31, 2019JPY (¥) | Dec. 31, 2019CNY (¥) | Dec. 31, 2019TWD ($) | Dec. 31, 2019EUR (€) | Dec. 31, 2019PLN (zł) | |||
Disclosure of subsidiaries [line items] | ||||||||||
Fiscal year end | --12-31 | |||||||||
Date of incorporation | [1] | Jul. 11, 2018 | ||||||||
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 | 100.00% | |||||||||
Fiscal year end | --12-31 | |||||||||
Date of incorporation | Sep. 24, 1999 | |||||||||
Business | Sell display products | |||||||||
Capital stocks | $ | $ 411 | |||||||||
LG Display Japan Co., Ltd. [member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Location | Tokyo, Japan | |||||||||
Percentage of ownership | 100.00% | |||||||||
Fiscal year end | --12-31 | |||||||||
Date of incorporation | Oct. 12, 1999 | |||||||||
Business | Sell display products | |||||||||
Capital stocks | ¥ 95 | |||||||||
LG Display Germany GmbH [member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Location | Eschborn, Germany | |||||||||
Percentage of ownership | 100.00% | |||||||||
Fiscal year end | --12-31 | |||||||||
Date of incorporation | Nov. 5, 1999 | |||||||||
Business | Sell display products | |||||||||
Capital stocks | € | € 1 | |||||||||
LG Display Taiwan Co., Ltd. [member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Location | Taipei, Taiwan | |||||||||
Percentage of ownership | 100.00% | |||||||||
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 | 100.00% | |||||||||
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 | 100.00% | |||||||||
Fiscal year end | --12-31 | |||||||||
Date of incorporation | Jan. 16, 2003 | |||||||||
Business | Sell display products | |||||||||
Capital stocks | 4 | |||||||||
LG Display Poland Sp. z o.o. [member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Location | [2] | Wroclaw, Poland | ||||||||
Percentage of ownership | [2] | 100.00% | ||||||||
Fiscal year end | [2] | --12-31 | ||||||||
Date of incorporation | [2] | Sep. 6, 2005 | ||||||||
Business | [2] | Manufacture display products | ||||||||
Capital stocks | zł | [2] | zł 511 | ||||||||
LG Display Guangzhou Co., Ltd. [member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Location | Guangzhou, China | |||||||||
Percentage of ownership | 100.00% | |||||||||
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 | 100.00% | |||||||||
Fiscal year end | --12-31 | |||||||||
Date of incorporation | Aug. 28, 2007 | |||||||||
Business | Sell display products | |||||||||
Capital stocks | 4 | |||||||||
LG Display Singapore Pte. Ltd. [member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Location | Singapore | |||||||||
Percentage of ownership | 100.00% | |||||||||
Fiscal year end | --12-31 | |||||||||
Date of incorporation | Jan. 12, 2009 | |||||||||
Business | Sell display products | |||||||||
Capital stocks | $ | 1.1 | |||||||||
L&T Display Technology (Fujian) Limited [member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Location | Fujian, China | |||||||||
Percentage of ownership | 51.00% | |||||||||
Fiscal year end | --12-31 | |||||||||
Date of incorporation | Jan. 5, 2010 | |||||||||
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 | 100.00% | |||||||||
Fiscal year end | --12-31 | |||||||||
Date of incorporation | Apr. 19, 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 | 100.00% | |||||||||
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 | 70.00% | |||||||||
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 | 100.00% | |||||||||
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 | 100.00% | |||||||||
Fiscal year end | --12-31 | |||||||||
Date of incorporation | Apr. 28, 2015 | |||||||||
Business | Sell display products | |||||||||
Capital stocks | 1.2 | |||||||||
Global OLED Technology, LLC [member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Location | Sterling, U.S.A. | |||||||||
Percentage of ownership | 100.00% | |||||||||
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 | [3] | Haiphong Vietnam | ||||||||
Percentage of ownership | [3] | 100.00% | ||||||||
Fiscal year end | [3] | --12-31 | ||||||||
Date of incorporation | [3] | May 5, 2016 | ||||||||
Business | [3] | Manufacture display products | ||||||||
Capital stocks | $ | [3] | 600 | ||||||||
Suzhou Lehui Display Co., Ltd. [member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Location | Suzhou, China | |||||||||
Percentage of ownership | 100.00% | |||||||||
Fiscal year end | --12-31 | |||||||||
Date of incorporation | Jul. 1, 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 | [4] | Wilmington, U.S.A. | ||||||||
Percentage of ownership | [4] | 100.00% | ||||||||
Fiscal year end | [4] | --12-31 | ||||||||
Date of incorporation | [4] | May 1, 2018 | ||||||||
Business | [4] | Invest in venture business and obtain technologies | ||||||||
Capital stocks | $ | [4] | $ 6 | ||||||||
LG Display High-Tech (China) Co., Ltd. [member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Location | [1] | Guangzhou, China | ||||||||
Percentage of ownership | 75.00% | [1] | 69.00% | |||||||
Fiscal year end | [1] | --12-31 | ||||||||
Business | [1] | Manufacture and sell display products | ||||||||
Capital stocks | [1] | ¥ 14,570 | ||||||||
Money market trust [member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Location | Seoul, South Korea | |||||||||
Percentage of ownership | 100.00% | |||||||||
Fiscal year end | --12-31 | |||||||||
Business | Money market trust | |||||||||
Capital stocks | ₩ | ₩ 34,700 | |||||||||
[1] | For the year ended December 31, 2019, the Controlling Company contributed W1,045,393 million in cash for the capital increase of LG Display High-Tech (China) Co., Ltd. (“LGDCO”). Meanwhile, additional contribution from LG Display Guangzhou Co., Ltd. and non-controlling interest amounted to W32,329 million and W276,396 million, respectively. The Group’s ownership percentage in LGDCO increased from 69% to 75% as a result of these additional investments. | |||||||||
[2] | On July 1, 2019, LG Display Poland Sp. z o.o. commenced the liquidation process. | |||||||||
[3] | For the year ended December 31, 2019, the Controlling Company contributed W342,680 million in cash for the capital increase of LG Display Vietnam Haiphong Co., Ltd. (“LGDVN”). | |||||||||
[4] | For the year ended December 31, 2019, the Controlling Company contributed W4,073 million in cash for the capital increase of LG DISPLAY FUND I LLC. |
Reporting Entity - Summary of_2
Reporting Entity - Summary of Consolidated Subsidiaries (Parenthetical) (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | |||
Disclosure of subsidiaries [line items] | ||||
Date of commencement of liquidation | Jul. 1, 2019 | |||
Cash contribution for capital increase in consolidated subsidiaries | ₩ 342,680 | |||
LG Display High-Tech (China) Co., Ltd. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Percentage of ownership | 75.00% | [1] | 69.00% | |
Cash contribution for capital increase in consolidated subsidiaries | ₩ 1,045,393 | |||
Contribution from non controlling interest | ₩ 276,396 | |||
LG DISPLAY FUND I LLC [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Percentage of ownership | [2] | 100.00% | ||
Cash contribution for capital increase in consolidated subsidiaries | ₩ 4,073 | |||
LG Display Guangzhou Co., Ltd. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Contributin from subsidiaries | ₩ 32,329 | |||
[1] | For the year ended December 31, 2019, the Controlling Company contributed W1,045,393 million in cash for the capital increase of LG Display High-Tech (China) Co., Ltd. (“LGDCO”). Meanwhile, additional contribution from LG Display Guangzhou Co., Ltd. and non-controlling interest amounted to W32,329 million and W276,396 million, respectively. The Group’s ownership percentage in LGDCO increased from 69% to 75% as a result of these additional investments. | |||
[2] | For the year ended December 31, 2019, the Controlling Company contributed W4,073 million in cash for the capital increase of LG DISPLAY FUND I LLC. |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Schedule of Impacts on condensed consolidated interim financial statements (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Disclosure of quantitative information about right-of-use assets [line items] | |||
Right-of-use assets presented in property, plant and equipment | ₩ 142,040 | ||
Prepaid expenses | (61,570) | ||
Lease receivables | 34,649 | ||
Lease liabilities | ₩ 88,512 | ₩ 115,119 | ₩ 115,119 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Summary of measuring lease liabilities (Details) - KRW (₩) ₩ in Millions | Jan. 01, 2019 | Dec. 31, 2019 | Dec. 31, 2018 |
Lease liabilities [abstract] | |||
Operating Lease Commitments | ₩ 119,659 | ||
Lease Commitments Discounted | 115,614 | ||
Recognition exemption for lease of low-value assets | (262) | ₩ (1,188) | |
Recognition exemption for leases with less than 12 months of lease term at adoption | (233) | (1,783) | |
Lease liabilities | ₩ 115,119 | ₩ 88,512 | ₩ 115,119 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Additional Information (Detail) | Jan. 01, 2019 |
Disclosure of detailed information about financial instruments [Line Items] | |
Weighted average incremental borrowing rate operatin leases | 3.36% |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies - Estimated Useful Lives of Property, Plant and Equipment (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
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 | 2 |
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 | 4 |
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 Significant Accoun_8
Summary of Significant Accounting Policies - Estimated Useful Lives of Intangible Assets, Other Than Goodwill (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of detailed information about intangible assets [Line Items] | |
Estimated useful lives of intangible assets, other than goodwill | |
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 |
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 |
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 |
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 | Not amortized |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Current assets | ||||
Cash and cash equivalents, Demand deposits | ₩ 3,336,003 | ₩ 2,365,022 | ₩ 2,602,560 | ₩ 1,558,696 |
Deposits in banks, Time deposits | 1,500 | 4,318 | ||
Deposits in banks, Restricted deposits | 77,257 | 74,082 | ||
Deposits in banks | 78,757 | 78,400 | ||
Non-current assets | ||||
Deposits in banks, Restricted deposits | 11 | 11 | ||
Cash and cash equivalents and deposits in banks | ₩ 3,414,771 | ₩ 2,443,433 |
Receivables and Other Assets -
Receivables and Other Assets - Summary of Trade Accounts and Notes Receivable (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [Line Items] | ||
Trade accounts and notes receivable, net | ₩ 3,154,080 | ₩ 2,829,163 |
Related parties [member] | ||
Disclosure of financial assets [Line Items] | ||
Trade accounts and notes receivable, net | 577,689 | 523,795 |
Trade, net [member] | ||
Disclosure of financial assets [Line Items] | ||
Trade accounts and notes receivable, net | ₩ 2,576,391 | ₩ 2,305,368 |
Receivables and Other Assets _2
Receivables and Other Assets - Summary of Other Accounts Receivable (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [abstract] | ||
Non-trade receivable, net | ₩ 463,614 | ₩ 159,238 |
Accrued income | 10,434 | 10,075 |
Other accounts receivable, net | 474,048 | 169,313 |
Long-term non-trade receivable | 9,072 | 11,448 |
Other non-current accounts receivable, net | ₩ 483,120 | ₩ 180,761 |
Receivables and Other Assets _3
Receivables and Other Assets - Additional Information (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [Line Items] | ||
Other accounts receivable, net | ₩ 474,048 | ₩ 169,313 |
Related parties [member] | ||
Disclosure of financial assets [Line Items] | ||
Other accounts receivable, net | ₩ 19,431 | ₩ 39,092 |
Receivables and Other Assets _4
Receivables and Other Assets - Aging of Trade Accounts and Notes Receivable, Other Accounts Receivable and Long-term Non-trade Receivable (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Trade accounts and notes receivable | ₩ 3,154,080 | ₩ 2,829,163 |
Other accounts receivable | 474,048 | 169,313 |
Gross carrying amount [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Trade accounts and notes receivable | 3,154,540 | 2,829,640 |
Other accounts receivable | 486,442 | 182,042 |
Gross carrying amount [member] | Current [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Trade accounts and notes receivable | 3,119,914 | 2,807,598 |
Other accounts receivable | 208,086 | 177,689 |
Gross carrying amount [member] | Current [member] | 1-15 days [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Trade accounts and notes receivable | 34,626 | 21,558 |
Other accounts receivable | 3,512 | 3,148 |
Gross carrying amount [member] | Current [member] | 16-30 days [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Trade accounts and notes receivable | 0 | 454 |
Other accounts receivable | 598 | 441 |
Gross carrying amount [member] | Current [member] | 31-60 days [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Trade accounts and notes receivable | 0 | 30 |
Other accounts receivable | 61 | 96 |
Gross carrying amount [member] | Current [member] | More than 60 days [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Trade accounts and notes receivable | 0 | |
Other accounts receivable | 274,185 | 668 |
Accumulated impairment [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Trade accounts and notes receivable | (460) | (477) |
Other accounts receivable | (3,322) | (1,281) |
Accumulated impairment [member] | Current [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Trade accounts and notes receivable | (454) | (473) |
Other accounts receivable | (3,292) | (816) |
Accumulated impairment [member] | Current [member] | 1-15 days [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Trade accounts and notes receivable | (6) | (4) |
Other accounts receivable | (1) | (26) |
Accumulated impairment [member] | Current [member] | 16-30 days [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Trade accounts and notes receivable | 0 | |
Other accounts receivable | (4) | (4) |
Accumulated impairment [member] | Current [member] | 31-60 days [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Trade accounts and notes receivable | 0 | |
Other accounts receivable | 0 | (1) |
Accumulated impairment [member] | Current [member] | More than 60 days [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Trade accounts and notes receivable | 0 | |
Other accounts receivable | ₩ (25) | ₩ (434) |
Receivables and Other Assets _5
Receivables and Other Assets - 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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Other accounts receivable [member] | |||
Disclosure of financial assets that are either past due or impaired [Line Items] | |||
Balance at the beginning of the year | ₩ 1,281 | ₩ 1,311 | ₩ 1,116 |
(Reversal of) bad debt expense | 2,041 | (30) | 195 |
Balance at the end of the year | 3,322 | 1,281 | 1,311 |
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 | 477 | 1,632 | 1,488 |
(Reversal of) bad debt expense | (17) | (1,155) | 144 |
Balance at the end of the year | ₩ 460 | ₩ 477 | ₩ 1,632 |
Receivables and Other Assets _6
Receivables and Other Assets - Summary of Other Assets (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Current assets | ||
Advanced payments | ₩ 6,203 | ₩ 13,259 |
Prepaid expenses | 114,145 | 89,110 |
Value added tax refundable | 826,730 | 436,190 |
Right to recover returned goods | 22,106 | 7,489 |
Total other current assets | 969,184 | 546,048 |
Non-current assets | ||
Long-term prepaid expenses | 272,835 | 381,983 |
Long-term advanced payments | 7,742 | |
Total other non-current assets | ₩ 280,577 | ₩ 381,983 |
Other Financial Assets - Summar
Other Financial Assets - Summary of Other Financial Assets (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Current assets | ||
Current financial assets at amortised cost | ₩ 36,903 | ₩ 33,136 |
Other current financial assets | 70,945 | 46,301 |
Non-current assets | ||
Financial asset at fair value through profit or loss | 27,063 | 15,008 |
Non-current financial assets at amortised cost | 84,377 | 129,151 |
Other non-current financial assets | 111,510 | 144,214 |
Derivatives [member] | ||
Current assets | ||
Current financial assets at fair value through profit or loss | 34,036 | 13,059 |
Non-current assets | ||
Financial asset at fair value through profit or loss | 15,640 | |
Debt securities [member] | Government bonds [member] | ||
Current assets | ||
Current financial assets measured at fair Value through Other Comprehensive Income | 6 | 106 |
Non-current assets | ||
Non-current financial assets measured at fair value through other comprehensive income | 70 | 55 |
Short term Loans And Receivables[member] | ||
Current assets | ||
Current financial assets at amortised cost | 21,623 | 16,116 |
Equity securities [member] | ||
Non-current assets | ||
Financial asset at fair value through profit or loss | 9,879 | 13,681 |
Equity securities [member] | Intellectual Discovery Co Ltd [member] | ||
Non-current assets | ||
Financial asset at fair value through profit or loss | 1,104 | 4,598 |
Equity securities [member] | Kyulux, Inc. [member] | ||
Non-current assets | ||
Financial asset at fair value through profit or loss | 1,889 | 2,460 |
Equity securities [member] | Fineeva Co., Ltd [member] | ||
Non-current assets | ||
Financial asset at fair value through profit or loss | 4 | 286 |
Equity securities [member] | ARCH Venture Fund Vill, L.P. [member] | ||
Non-current assets | ||
Financial asset at fair value through profit or loss | 6,302 | 6,337 |
Equity securities [member] | Sierra Ventures Fund XII LP [Member] | ||
Non-current assets | ||
Financial asset at fair value through profit or loss | 580 | |
Convertible bonds [member] | ||
Non-current assets | ||
Financial asset at fair value through profit or loss | 1,544 | 1,327 |
Long term Loans And Receivables [member] | ||
Non-current assets | ||
Non-current financial assets at amortised cost | 40,827 | 55,048 |
Deposits [member] | ||
Current assets | ||
Current financial assets at amortised cost | 9,585 | 17,020 |
Non-current assets | ||
Non-current financial assets at amortised cost | 21,451 | ₩ 74,103 |
Lease receivables [member] | ||
Current assets | ||
Current financial assets at amortised cost | 5,695 | |
Non-current assets | ||
Non-current financial assets at amortised cost | ₩ 22,099 |
Other Financial Assets - Additi
Other Financial Assets - Additional Information (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Related parties [member] | ||
Disclosure of financial assets [Line Items] | ||
Other financial assets | ₩ 2,000 | ₩ 2,750 |
Inventories - Summary of Invent
Inventories - Summary of Inventories (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Classes of current inventories [abstract] | ||
Finished goods | ₩ 730,009 | ₩ 1,084,297 |
Work-in-process | 756,744 | 856,388 |
Raw materials | 405,854 | 554,720 |
Supplies | 158,548 | 195,798 |
Inventories | ₩ 2,051,155 | ₩ 2,691,203 |
Inventories - Inventories Recog
Inventories - Inventories Recognized as Cost of Sales and Inventory Write-downs Included in Cost of Sales (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Write-downs (reversals of write-downs) of inventories [abstract] | |||
Inventories recognized as cost of sales | ₩ 21,607,240 | ₩ 21,251,305 | ₩ 22,424,661 |
Including: inventory write-downs | ₩ 472,885 | ₩ 313,180 | ₩ 206,127 |
Investments in Equity Account_3
Investments in Equity Accounted Investees - Summary of Associates (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of associates and joint ventures [Line Items] | |||
Fiscal year end | --12-31 | ||
Date of incorporation | 2000-08 | ||
Carrying amount | ₩ 109,611 | ₩ 113,989 | ₩ 122,507 |
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 | 40.00% | 40.00% | |
Carrying amount | ₩ 50,697 | ₩ 47,823 | ₩ 46,511 |
INVENIA Co., Ltd. (LIG INVENIA Co., Ltd.) [member] | |||
Disclosure of associates and joint ventures [Line Items] | |||
Location | Seongnam, South Korea | ||
Fiscal year end | --12-31 | ||
Date of incorporation | 2001-01 | ||
Business | Develop and manufacture equipment for display manufacture | ||
Percentage of ownership | 13.00% | ||
Carrying amount | ₩ 4,166 | ||
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 | 14.00% | 14.00% | |
Carrying amount | ₩ 7,310 | ₩ 4,746 | |
LB Gemini new growth fund no.16 [member] | |||
Disclosure of associates and joint ventures [Line Items] | |||
Fiscal year end | --12-31 | ||
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 | 15.00% | 15.00% | |
Carrying amount | ₩ 19,424 | ₩ 16,308 | |
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 | 14.00% | 17.00% | |
Carrying amount | ₩ 19,929 | ₩ 23,441 | |
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 manufacture tablet for kids | ||
Percentage of ownership | 10.00% | 10.00% | |
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 | 12.00% | 14.00% | |
Carrying amount | ₩ 4,714 | ₩ 8,668 | |
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 | 10.00% | 10.00% | |
Carrying amount | ₩ 2,354 | ₩ 3,346 | |
Nanosys Inc [member] | |||
Disclosure of associates and joint ventures [Line Items] | |||
Location | Milpitas, U.S.A. | ||
Fiscal year end | --12-31 | ||
Date of incorporation | 2001-07 | ||
Business | Develop, manufacture, and sell materials for display | ||
Percentage of ownership | 4.00% | 4.00% | |
Carrying amount | ₩ 5,183 | ₩ 5,491 |
Investments in Equity Account_4
Investments in Equity Accounted Investees - Summary of Associates (Parenthetical) (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of associates and joint ventures [Line Items] | ||
Impairment loss recognised in profit or loss | ₩ (3,379) | ₩ (16,595) |
INVENIA Co., Ltd. (LIG INVENIA Co., Ltd.) [member] | ||
Disclosure of associates and joint ventures [Line Items] | ||
Percentage of ownership | 13.00% | |
INVENIA Co., Ltd. (LIG INVENIA Co., Ltd.) [member] | Investments accounted for using equity method [member] | ||
Disclosure of associates and joint ventures [Line Items] | ||
Number of shares invested disposed off | 3,000,000 | |
Gain loss on disposal of investments in associates | ₩ 4,324 | |
WooRee E&L Co., Ltd. [member] | ||
Disclosure of associates and joint ventures [Line Items] | ||
Percentage of ownership | 14.00% | 14.00% |
Reversal of impairment loss recognised in profit or loss | ₩ 1,535 | |
YAS Co., Ltd. [member] | ||
Disclosure of associates and joint ventures [Line Items] | ||
Percentage of ownership | 15.00% | 15.00% |
AVATEC Co., Ltd. [member] | ||
Disclosure of associates and joint ventures [Line Items] | ||
Percentage of ownership | 14.00% | 17.00% |
AVATEC Co., Ltd. [member] | Investments accounted for using equity method [member] | ||
Disclosure of associates and joint ventures [Line Items] | ||
Percentage of ownership | 14.00% | |
Number of shares invested disposed off | 650,000 | |
Gain loss on disposal of investments in associates | ₩ 207 | |
Arctic Sentinel, Inc. (Fuhu, Inc.) [member] | ||
Disclosure of associates and joint ventures [Line Items] | ||
Percentage of ownership | 10.00% | 10.00% |
Cynora GmbH [member] | ||
Disclosure of associates and joint ventures [Line Items] | ||
Percentage of ownership | 12.00% | 14.00% |
Impairment loss recognised in profit or loss | ₩ 3,954 | |
Cynora GmbH [member] | Investments accounted for using equity method [member] | ||
Disclosure of associates and joint ventures [Line Items] | ||
Percentage of ownership | 12.00% | 14.00% |
Material Science Co Ltd [member] | ||
Disclosure of associates and joint ventures [Line Items] | ||
Percentage of ownership | 10.00% | 10.00% |
Impairment loss recognised in profit or loss | ₩ 736 | |
Nanosys Inc [member] | ||
Disclosure of associates and joint ventures [Line Items] | ||
Percentage of ownership | 4.00% | 4.00% |
Impairment loss recognised in profit or loss | ₩ 209 | |
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 | 20.00% | |
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 | 20.00% | |
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 | 20.00% | |
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 | 20.00% | |
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 | 20.00% | |
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 | 20.00% | |
Entity that has significant influence over the controlling company [member] | Top of range [member] | Nanosys Inc [member] | ||
Disclosure of associates and joint ventures [Line Items] | ||
Percentage of ownership | 20.00% |
Investments in Equity Account_5
Investments in Equity Accounted Investees - Additional Information (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of associates and joint ventures [Line Items] | |||
Dividends received from a joint venture and equity method investees | ₩ 7,502 | ₩ 5,272 | ₩ 8,639 |
WooRee E&L Co., Ltd. [member] | |||
Disclosure of associates and joint ventures [Line Items] | |||
Market value for Controlling Company's investments | 7,310 | ||
YAS Co., Ltd. [member] | |||
Disclosure of associates and joint ventures [Line Items] | |||
Market value for Controlling Company's investments | 39,300 | ||
AVATEC Co., Ltd. [member] | |||
Disclosure of associates and joint ventures [Line Items] | |||
Market value for Controlling Company's investments | ₩ 15,380 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of associates [Line Items] | |||
Total assets | ₩ 35,574,563 | ₩ 33,175,710 | |
Current assets | 10,248,315 | 8,800,127 | |
Non-current assets | 25,326,248 | 24,375,583 | |
Total liabilities | 23,086,282 | 18,289,464 | |
Current liabilities | 10,984,976 | 9,954,483 | |
Non-current liabilities | 12,101,306 | 8,334,981 | |
Revenue | 23,475,567 | 24,336,571 | ₩ 27,790,216 |
Profit for the year | (2,872,078) | (179,443) | 1,937,052 |
Other comprehensive income (loss) | 204,258 | (15,409) | (237,393) |
Total comprehensive income | (2,667,820) | (194,852) | 1,699,659 |
Paju Electric Glass Co., Ltd. [member] | |||
Disclosure of associates [Line Items] | |||
Total assets | 195,815 | 194,021 | |
Current assets | 126,314 | 128,788 | |
Non-current assets | 69,501 | 65,233 | |
Total liabilities | 66,017 | 72,686 | |
Current liabilities | 51,625 | 66,797 | |
Non-current liabilities | 14,392 | 5,889 | |
Revenue | 346,434 | 384,144 | 408,846 |
Profit for the year | 13,672 | 12,744 | 12,327 |
Other comprehensive income (loss) | 9,933 | 2,612 | (9,366) |
Total comprehensive income | ₩ 23,605 | ₩ 15,356 | ₩ 2,961 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of associates [Line Items] | |||
Book value | ₩ 109,611 | ₩ 113,989 | ₩ 122,507 |
Paju Electric Glass Co., Ltd. [member] | |||
Disclosure of associates [Line Items] | |||
Net asset | ₩ 129,798 | ₩ 121,335 | |
Ownership interest | 40.00% | 40.00% | |
Net asset (applying ownership interest) | ₩ 51,919 | ₩ 48,534 | |
Intra-group transaction | (789) | (711) | |
Book value | ₩ 50,697 | ₩ 47,823 | ₩ 46,511 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of associates [Line Items] | |||
Book value | ₩ 109,611 | ₩ 113,989 | ₩ 122,507 |
Profit (loss) for the year | (2,872,078) | (179,443) | 1,937,052 |
Other comprehensive income (loss) | 204,258 | (15,409) | (237,393) |
Total comprehensive income (loss) | (2,667,820) | (194,852) | 1,699,659 |
Other associates [member] | |||
Disclosure of associates [Line Items] | |||
Book value | 58,914 | 66,166 | ₩ 75,996 |
Profit (loss) for the year | 6,756 | (3,739) | |
Other comprehensive income (loss) | 190 | (988) | |
Total comprehensive income (loss) | ₩ 6,946 | ₩ (4,727) |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of associates [Line Items] | |||
Beginning balance | ₩ 113,989 | ₩ 122,507 | |
Acquisition/Disposal | (9,807) | 12,592 | |
Dividends received | (7,502) | (5,272) | ₩ (8,639) |
Equity income (loss) on investments | 12,147 | 700 | 9,560 |
Other comprehensive income (loss) | 4,163 | 57 | 1,346 |
Other gain (loss) | (3,379) | (16,595) | |
Ending balance | 109,611 | 113,989 | 122,507 |
Paju Electric Glass Co., Ltd. [member] | |||
Disclosure of associates [Line Items] | |||
Beginning balance | 47,823 | 46,511 | |
Dividends received | (6,057) | (4,172) | |
Equity income (loss) on investments | 5,391 | 4,439 | |
Other comprehensive income (loss) | 3,973 | 1,045 | |
Other gain (loss) | (433) | ||
Ending balance | 50,697 | 47,823 | 46,511 |
Other associates [member] | |||
Disclosure of associates [Line Items] | |||
Beginning balance | 66,166 | 75,996 | |
Acquisition/Disposal | (9,807) | 12,592 | |
Dividends received | (1,445) | (1,100) | |
Equity income (loss) on investments | 6,756 | (3,739) | |
Other comprehensive income (loss) | 190 | (988) | |
Other gain (loss) | (2,946) | (16,595) | |
Ending balance | ₩ 58,914 | ₩ 66,166 | ₩ 75,996 |
Property, Plant and Equipment -
Property, Plant and Equipment - Changes in Property, Plant and Equipment (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | ₩ 21,600,130 | ₩ 16,201,960 |
Adjusted book value as of January 1, 2019 | 21,742,170 | |
Additions | 5,908,102 | 8,605,551 |
Depreciation | (3,268,779) | (3,123,659) |
Disposals | (594,604) | (116,210) |
Impairment loss | (1,550,430) | (43,601) |
Others | 107,450 | |
Effect of movements in exchange rates | 131,862 | 40,010 |
Government grants received | (280,676) | (1,210) |
Reclassification to assets held-for-sale | (70,161) | |
Balance | 22,087,645 | 21,600,130 |
Previously stated [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | 21,600,130 | |
Balance | 113,250 | 21,600,130 |
Increase (decrease) due to changes in accounting policy and corrections of prior period errors [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Recognition of right-of-use assets on initial application of IFRS No. 1116 | 142,040 | |
Gross carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | 60,518,509 | 52,851,330 |
Balance | 62,949,455 | 60,518,509 |
Accumulated depreciation and amortisation [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | (38,870,782) | (36,645,323) |
Balance | (39,304,268) | (38,870,782) |
Accumulated impairment [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | (47,597) | (4,047) |
Balance | (1,557,542) | (47,597) |
Land [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | 461,828 | 460,511 |
Adjusted book value as of January 1, 2019 | 461,828 | |
Disposals | (7,861) | (15) |
Others | 68 | 1,332 |
Balance | 454,035 | 461,828 |
Land [member] | Previously stated [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | 461,828 | |
Balance | 461,828 | |
Land [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | 461,828 | 460,511 |
Balance | 454,035 | 461,828 |
Buildings and structures [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | 3,535,788 | 3,858,779 |
Adjusted book value as of January 1, 2019 | 3,535,788 | |
Depreciation | (302,157) | (318,311) |
Disposals | (4,958) | (161) |
Impairment loss | (125,687) | |
Others | 1,064,123 | 55,430 |
Effect of movements in exchange rates | 21,984 | 9,809 |
Government grants received | (83,200) | |
Reclassification to assets held-for-sale | (69,758) | |
Balance | 4,105,893 | 3,535,788 |
Buildings and structures [member] | Previously stated [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | 3,535,788 | |
Balance | 3,535,788 | |
Buildings and structures [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | 6,528,939 | 6,539,506 |
Balance | 7,381,156 | 6,528,939 |
Buildings and structures [member] | Accumulated depreciation and amortisation [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | (2,991,445) | (2,678,970) |
Balance | (3,154,387) | (2,991,445) |
Buildings and structures [member] | Accumulated impairment [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | (1,706) | (1,757) |
Balance | (120,876) | (1,706) |
Machinery And Equipment1 [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | 4,979,087 | 5,712,750 |
Adjusted book value as of January 1, 2019 | 4,979,087 | |
Depreciation | (2,609,205) | (2,568,335) |
Disposals | (559,616) | (112,752) |
Impairment loss | (1,212,215) | (25,711) |
Others | 6,958,793 | 1,959,645 |
Effect of movements in exchange rates | 30,957 | 14,520 |
Government grants received | (17,028) | (1,029) |
Reclassification to assets held-for-sale | (1) | |
Balance | 7,570,773 | 4,979,087 |
Machinery And Equipment1 [member] | Previously stated [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | 4,979,087 | |
Balance | 4,979,087 | |
Machinery And Equipment1 [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | 39,825,070 | 38,901,158 |
Balance | 43,604,721 | 39,825,070 |
Machinery And Equipment1 [member] | Accumulated depreciation and amortisation [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | (34,817,982) | (33,186,118) |
Balance | (34,810,300) | (34,817,982) |
Machinery And Equipment1 [member] | Accumulated impairment [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | (28,001) | (2,290) |
Balance | (1,223,648) | (28,001) |
Furniture and fixtures [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | 142,256 | 141,342 |
Adjusted book value as of January 1, 2019 | 142,256 | |
Depreciation | (66,592) | (67,274) |
Disposals | (1,622) | (311) |
Impairment loss | (8,278) | |
Others | 70,140 | 68,177 |
Effect of movements in exchange rates | 884 | 359 |
Reclassification to assets held-for-sale | (37) | |
Balance | 136,788 | 142,256 |
Furniture and fixtures [member] | Previously stated [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | 142,256 | |
Balance | 142,256 | |
Furniture and fixtures [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | 834,628 | 772,824 |
Balance | 899,053 | 834,628 |
Furniture and fixtures [member] | Accumulated depreciation and amortisation [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | (692,372) | (631,482) |
Balance | (753,987) | (692,372) |
Furniture and fixtures [member] | Accumulated impairment [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | 0 | |
Balance | (8,278) | |
Construction-in-progress [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | 12,216,934 | 5,971,856 |
Adjusted book value as of January 1, 2019 | 12,216,934 | |
Additions | 5,878,369 | 8,605,551 |
Impairment loss | (171,439) | (17,890) |
Others | (8,373,047) | (2,357,412) |
Effect of movements in exchange rates | 75,958 | 15,010 |
Government grants received | (180,448) | (181) |
Balance | 9,446,327 | 12,216,934 |
Construction-in-progress [member] | Previously stated [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | 12,216,934 | |
Balance | 12,216,934 | |
Construction-in-progress [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | 12,234,824 | 5,971,856 |
Balance | 9,618,256 | 12,234,824 |
Construction-in-progress [member] | Accumulated impairment [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | (17,890) | |
Balance | (171,929) | (17,890) |
Others [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | 264,237 | 56,722 |
Adjusted book value as of January 1, 2019 | 264,237 | |
Depreciation | (239,762) | (169,739) |
Disposals | (16,953) | (2,971) |
Impairment loss | (28,509) | |
Others | 279,923 | 380,278 |
Effect of movements in exchange rates | 1,643 | 312 |
Reclassification to assets held-for-sale | (365) | |
Balance | 260,579 | 264,237 |
Others [member] | Previously stated [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | 264,237 | |
Balance | 264,237 | |
Others [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | 633,220 | 205,475 |
Balance | 823,101 | 633,220 |
Others [member] | Accumulated depreciation and amortisation [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | (368,983) | (148,753) |
Balance | (534,013) | ₩ (368,983) |
Others [member] | Accumulated impairment [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | (28,509) | |
Right-of-use assets [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Adjusted book value as of January 1, 2019 | 142,040 | |
Additions | 29,733 | |
Depreciation | (51,063) | |
Disposals | (3,594) | |
Impairment loss | (4,302) | |
Effect of movements in exchange rates | 436 | |
Balance | 113,250 | |
Right-of-use assets [member] | Increase (decrease) due to changes in accounting policy and corrections of prior period errors [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Recognition of right-of-use assets on initial application of IFRS No. 1116 | 142,040 | |
Right-of-use assets [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | 169,133 | |
Right-of-use assets [member] | Accumulated depreciation and amortisation [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | 51,581 | |
Right-of-use assets [member] | Accumulated impairment [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
Balance | ₩ 4,302 |
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, 2019 | Dec. 31, 2018 | |
Disclosure of impairment loss and reversal of impairment loss [line items] | ||
Impairment loss on property, plant and equipment | ₩ 1,550,430 | ₩ 43,601 |
Entity's total for cash-generating units [member] | ||
Disclosure of impairment loss and reversal of impairment loss [line items] | ||
Impairment loss on property, plant and equipment | 1,491,292 | |
Display CGU [member] | ||
Disclosure of impairment loss and reversal of impairment loss [line items] | ||
Impairment loss on property, plant and equipment | 1,369,371 | |
Lighting CGU [member] | ||
Disclosure of impairment loss and reversal of impairment loss [line items] | ||
Impairment loss on property, plant and equipment | ₩ 121,921 |
Property, Plant and Equipment_3
Property, Plant and Equipment - Capitalized Borrowing Costs and Capitalization Rate (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Borrowing costs [abstract] | |||
Capitalized borrowing costs | ₩ 283,525 | ₩ 146,607 | ₩ 47,686 |
Capitalization rate | 3.74% | 2.80% | 1.92% |
Intangible Assets and Non-cur_3
Intangible Assets and Non-current Asset Impairment - Changes in Intangible Assets (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | ₩ 987,642 | ₩ 912,821 | |
Amortization | (426,272) | (430,906) | |
Disposals | (2,055) | (721) | |
Impairment loss | (249,450) | (82) | ₩ (1,809) |
Reversal of impairment loss | 960 | 348 | 35 |
Transfer from construction-in-progress | (800) | 449 | |
Effect of movements in exchange rates | 5,863 | 4,638 | |
Ending balance | 873,448 | 987,642 | 912,821 |
Internally developed [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Additions | 437,945 | 372,835 | |
External purchases [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Additions | 119,615 | 128,260 | |
Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 4,344,102 | 3,836,290 | |
Ending balance | 4,898,351 | 4,344,102 | 3,836,290 |
Accumulated depreciation and amortisation [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | (3,344,939) | (2,911,684) | |
Ending balance | (3,764,935) | (3,344,939) | (2,911,684) |
Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | (11,521) | (11,785) | |
Ending balance | (259,968) | (11,521) | (11,785) |
Intellectual property rights [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 230,021 | 246,966 | |
Amortization | (42,550) | (43,437) | |
Impairment loss | (29,152) | ||
Effect of movements in exchange rates | 4,318 | 1,896 | |
Ending balance | 191,034 | 230,021 | 246,966 |
Intellectual property rights [member] | External purchases [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Additions | 28,397 | 24,596 | |
Intellectual property rights [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 926,969 | 895,721 | |
Ending balance | 959,683 | 926,969 | 895,721 |
Intellectual property rights [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | (696,948) | (648,755) | |
Ending balance | (739,498) | (696,948) | (648,755) |
Intellectual property rights [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Ending balance | (29,151) | ||
Software [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 177,599 | 161,490 | |
Amortization | (82,016) | (80,159) | |
Disposals | (239) | ||
Impairment loss | (8,905) | ||
Transfer from construction-in-progress | 111,359 | 95,028 | |
Effect of movements in exchange rates | 347 | 1,240 | |
Ending balance | 198,145 | 177,599 | 161,490 |
Software [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 992,139 | 898,278 | |
Ending balance | 1,097,290 | 992,139 | 898,278 |
Software [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | (814,540) | (736,788) | |
Ending balance | (890,281) | (814,540) | (736,788) |
Software [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Ending balance | (8,864) | ||
Memberships [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 46,039 | 43,200 | |
Disposals | (1,816) | (721) | |
Impairment loss | (82) | ||
Reversal of impairment loss | 960 | 348 | |
Transfer from construction-in-progress | 449 | ||
Effect of movements in exchange rates | 23 | 1 | |
Ending balance | 46,052 | 46,039 | 43,200 |
Memberships [member] | External purchases [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Additions | 846 | 2,844 | |
Memberships [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 57,560 | 54,985 | |
Ending balance | 56,612 | 57,560 | 54,985 |
Memberships [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | (11,521) | (11,785) | |
Ending balance | (10,560) | (11,521) | (11,785) |
Development costs [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 366,910 | 296,760 | |
Amortization | (297,959) | (302,685) | |
Impairment loss | (131,713) | ||
Ending balance | 375,183 | 366,910 | 296,760 |
Development costs [member] | Internally developed [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Additions | 437,945 | 372,835 | |
Development costs [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 2,142,832 | 1,769,998 | |
Ending balance | 2,580,777 | 2,142,832 | 1,769,998 |
Development costs [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | (1,775,922) | (1,473,238) | |
Ending balance | (2,073,881) | (1,775,922) | (1,473,238) |
Development costs [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Ending balance | (131,713) | ||
Construction-in-progress (software) [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 36,963 | 30,933 | |
Transfer from construction-in-progress | (112,159) | (95,028) | |
Effect of movements in exchange rates | 72 | 238 | |
Ending balance | 15,245 | 36,963 | 30,933 |
Construction-in-progress (software) [member] | External purchases [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Additions | 90,369 | 100,820 | |
Construction-in-progress (software) [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 36,963 | 30,933 | |
Ending balance | 15,245 | 36,963 | 30,933 |
Customer relationships [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 24,322 | 27,839 | |
Amortization | (2,637) | (3,517) | |
Impairment loss | (21,685) | ||
Ending balance | 24,322 | 27,839 | |
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 | (34,854) | (31,337) | |
Ending balance | (37,491) | (34,854) | (31,337) |
Customer relationships [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Ending balance | (21,685) | ||
Technology [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 1,477 | 2,584 | |
Amortization | (1,108) | (1,107) | |
Ending balance | 369 | 1,477 | 2,584 |
Technology [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 11,075 | 11,074 | |
Ending balance | 11,074 | 11,075 | 11,074 |
Technology [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | (9,598) | (8,490) | |
Ending balance | (10,705) | (9,598) | (8,490) |
Goodwill [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 104,311 | 103,048 | |
Impairment loss | (57,995) | ||
Effect of movements in exchange rates | 1,103 | 1,263 | |
Ending balance | 47,419 | 104,311 | 103,048 |
Goodwill [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 104,311 | 103,048 | |
Ending balance | 105,414 | 104,311 | 103,048 |
Goodwill [member] | Accumulated impairment [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Ending balance | (57,995) | ||
Others [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 1 | ||
Amortization | (2) | (1) | |
Ending balance | 1 | 1 | |
Others [member] | External purchases [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Additions | 3 | ||
Others [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 13,077 | 13,077 | |
Ending balance | 13,080 | 13,077 | 13,077 |
Others [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | (13,077) | (13,076) | |
Ending balance | ₩ (13,079) | ₩ (13,077) | ₩ (13,076) |
Intangible Assets and Non-cur_4
Intangible Assets and Non-current Asset Impairment - Changes in Intangible Assets (Parenthetical) (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Impairment loss on intangible assets | ₩ 249,450 | ₩ 82 | ₩ 1,809 |
Development Projects [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Impairment loss on intangible assets | 117,822 | ||
Entity's total for cash-generating units [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Impairment loss on intangible assets | 131,628 | ||
Display CGU [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Impairment loss on intangible assets | 26,284 | ||
Lighting CGU [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Impairment loss on intangible assets | ₩ 105,344 |
Intangible Assets and Non-cur_5
Intangible Assets and Non-current Asset Impairment - Summary of Development Costs (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of development costs of intangible assets [line items] | ||
Development completed | ₩ 102,781 | ₩ 150,401 |
Development in process | 272,402 | 216,509 |
Development costs | ₩ 375,183 | 366,910 |
Remaining Useful life | ||
Mobile [member] | ||
Disclosure of development costs of intangible assets [line items] | ||
Development completed | ₩ 53,350 | 108,467 |
Development in process | ₩ 157,483 | ₩ 144,679 |
Remaining Useful life | 0.4 | 0.5 |
Televisions [member] | ||
Disclosure of development costs of intangible assets [line items] | ||
Development completed | ₩ 22,597 | ₩ 28,001 |
Development in process | ₩ 42,587 | ₩ 55,580 |
Remaining Useful life | 0.4 | 0.5 |
Notebook [member] | ||
Disclosure of development costs of intangible assets [line items] | ||
Development completed | ₩ 14,464 | ₩ 4,458 |
Development in process | ₩ 46,167 | ₩ 9,639 |
Remaining Useful life | 0.4 | 0.6 |
Other Products [member] | ||
Disclosure of development costs of intangible assets [line items] | ||
Development completed | ₩ 12,370 | ₩ 9,475 |
Development in process | ₩ 26,165 | ₩ 6,611 |
Remaining Useful life | 0.7 | 0.5 |
Intangible Assets and Non-cur_6
Intangible Assets and Non-current Asset Impairment - Additional Information (Detail) ₩ in Millions | 12 Months Ended |
Dec. 31, 2019KRW (₩) | |
Display CGU [member] | |
Statement [line Items] | |
Goodwill allocated to CGU | ₩ 47,419 |
Intangible Assets and Non-cur_7
Intangible Assets and Non-current Asset Impairment - Impairment assessment (Details) | 12 Months Ended |
Dec. 31, 2019 | |
Lighting CGU [member] | |
Disclosure of information for cash-generating units [line items] | |
Discount rate | 6.10% |
Display CGU [member] | |
Disclosure of information for cash-generating units [line items] | |
Discount rate | 6.10% |
Terminal growth rate | 0.00% |
Display Produces Plastic OLED [member] | |
Disclosure of information for cash-generating units [line items] | |
Discount rate | 6.10% |
Terminal growth rate | 1.00% |
Intangible Assets and Non-cur_8
Intangible Assets and Non-current Asset Impairment - Impairment assessment (Parenthetical) (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement [line Items] | |||
Impairment loss for intangible assets | ₩ 249,450 | ₩ 82 | ₩ 1,809 |
Lighting CGU Produce OLED Lighting Product [member] | |||
Statement [line Items] | |||
Impairment loss for intangible assets | 230,867 | ||
Display Produces Plastic OLED [member] | |||
Statement [line Items] | |||
Impairment loss for intangible assets | 1,395,655 | ||
Recoverable amount | ₩ 1,729,209 | ||
Decrease in discount rate | 0.50% | ||
Decrease in value in use | ₩ 259,221 | ||
Percentage increase in value in use | 15.00% | ||
Percentage decrease in terminal growth rate | 0.50% | ||
Decrease in value in use | ₩ 169,626 | ||
Percentage decrease in value in use | 9.80% | ||
Display CGU [member] | |||
Statement [line Items] | |||
Percentage decrease in terminal growth rate | 1.39% | ||
Recoverable amount exceeds its carrying amount | ₩ 3,568,588 | ||
Percentage increase in discount rate | 1.06% |
Financial Liabilities - Summary
Financial Liabilities - Summary of Financial Liabilities (Detail) ₩ in Millions, ¥ in Millions, $ in Millions | Dec. 31, 2019KRW (₩) | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018KRW (₩) |
Current | ||||
Short-term borrowings | ₩ 696,793 | |||
Current portion of long-term borrowings and bonds | 1,242,904 | ₩ 1,553,907 | ||
Lease liabilities | 37,387 | |||
Current financial liabilities | 1,977,084 | 1,553,907 | ||
Non-current | ||||
Bonds | 2,741,516 | 1,772,599 | ||
Derivatives | 20,592 | 25,758 | ||
Lease liabilities | 51,125 | |||
Non-current financial liabilities | 11,612,910 | 7,030,628 | ||
Won [member] | ||||
Current | ||||
Short-term borrowings | 696,793 | |||
Current portion of long-term borrowings and bonds | 638,048 | 150,651 | ||
Non-current | ||||
Non-current financial liabilities | 2,692,560 | 2,700,608 | ||
Bonds | 1,426,894 | 1,446,393 | ||
Foreign currencies [member] | ||||
Current | ||||
Short-term borrowings | $ 353 | ¥ 1,737 | ||
Non-current | ||||
Non-current financial liabilities | 6,107,117 | 2,531,663 | ||
Bonds | ₩ 456,237 | ₩ 326,206 |
Financial Liabilities - Summa_2
Financial Liabilities - Summary of Short-term Borowings (Detail) - 12 months ended Dec. 31, 2019 ₩ in Millions, ¥ in Millions, $ in Millions | KRW (₩) | USD ($) | CNY (¥) |
Disclosure of detailed information about borrowings [Line Items] | |||
Short-term borrowings | ₩ 696,793 | ||
Standard Chartered Bank Korea Limited [member] | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Short term borrowings, annual interest rate description | 12ML + 0.78~0.88 | ||
Standard Chartered Bank Vietnam And Others [member] | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Short term borrowings, annual interest rate description | 3ML + 0.80~0.90 | ||
Standard Chartered Bank China Limited And Others [member] | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Short term borrowings, annual interest rate description | PBOC x 1.05 PBOC - 0.05 | ||
Won [member] | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Short-term borrowings | ₩ 696,793 | ||
Won [member] | Standard Chartered Bank Korea Limited [member] | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Short-term borrowings | 347,340 | ||
Won [member] | Standard Chartered Bank Vietnam And Others [member] | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Short-term borrowings | 61,613 | ||
Won [member] | Standard Chartered Bank China Limited And Others [member] | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Short-term borrowings | ₩ 287,840 | ||
Foreign currencies [member] | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Short-term borrowings | $ 353 | ¥ 1,737 |
Financial Liabilities - Summa_3
Financial Liabilities - Summary of Long-term Borrowings (Detail) ₩ in Millions, ¥ in Millions, $ in Millions | 12 Months Ended | |||||
Dec. 31, 2019KRW (₩) | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | |
Disclosure of detailed information about borrowings [Line Items] | ||||||
Long-term borrowings | ₩ 13,480,889 | ₩ 8,558,777 | ||||
Less current portion of long-term borrowings | ₩ (1,242,904) | (1,553,907) | ||||
China Construction Bank [member] | ||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||
Long-term borrowings, annual interest rate description | USD: 3ML+0.80~1.43 CNY: PBOC X (0.95~1.05) | |||||
Woori bank [member] | ||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||
Long-term borrowings, annual interest rate description | 2.75 | |||||
Korea development bank and others [member] | ||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||
Long-term borrowings, annual interest rate description | CD rate (91days) +1.00~1.39, 2.21~3.25 | |||||
Foreign currencies [member] | ||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||
Long-term borrowings | $ 2,767 | ¥ 18,699 | $ 2,262 | ¥ 5,198 | ||
Noncurrent portion of long-term borrowings | ₩ 6,107,117 | 2,531,663 | ||||
Won [member] | ||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||
Less current portion of long-term borrowings | (195,154) | (843,598) | ||||
Noncurrent portion of long-term borrowings | 2,692,560 | 2,700,608 | ||||
Less current portion of long-term borrowings | (638,048) | (150,651) | ||||
Won [member] | The Export-Import Bank of Korea [member] | ||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||
Long-term borrowings | 1,696,177 | 955,975 | ||||
Won [member] | China Construction Bank [member] | ||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||
Long-term borrowings | 4,606,094 | 2,419,286 | ||||
Won [member] | Woori bank [member] | ||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||
Long-term borrowings | 608 | 1,259 | ||||
Won [member] | Korea development bank and others [member] | ||||||
Disclosure of detailed information about borrowings [Line Items] | ||||||
Long-term borrowings | ₩ 3,330,000 | ₩ 2,850,000 |
Financial Liabilities - Summa_4
Financial Liabilities - Summary of Long-term Borrowings (Parenthetical) (Detail) - Won [member] | 12 Months Ended |
Dec. 31, 2019 | |
Woori bank [member] | |
Disclosure of detailed information about borrowings [Line Items] | |
Long-term borrowings, maturity period | 3 |
Long-term borrowings, annual interest rate | 2.75% |
Korea development bank and others [member] | |
Disclosure of detailed information about borrowings [Line Items] | |
Long-term borrowings, maturity period | 91 |
Long-term borrowings, annual interest rate adjustment | 0.64% |
Korea development bank and others [member] | Bottom of range [member] | |
Disclosure of detailed information about borrowings [Line Items] | |
Long-term borrowings, annual interest rate adjustment | 2.43% |
Korea development bank and others [member] | Top of range [member] | |
Disclosure of detailed information about borrowings [Line Items] | |
Long-term borrowings, annual interest rate adjustment | 3.25% |
Financial Liabilities - Details
Financial Liabilities - Details of Bonds Issued and Outstanding (Detail) ₩ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2019KRW (₩) | Dec. 31, 2019USD ($) | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | |
Disclosure of detailed information about borrowings [Line Items] | ||||
Bonds | ₩ 3,151,218 | |||
Bonds | 3,151,218 | |||
Bonds | 2,741,516 | ₩ 1,772,599 | ||
Won [member] | ||||
Disclosure of detailed information about borrowings [Line Items] | ||||
Less current portion | (409,702) | (559,658) | ||
Bonds | 1,426,894 | 1,446,393 | ||
Won [member] | Privately issued bonds [member] | ||||
Disclosure of detailed information about borrowings [Line Items] | ||||
Bonds | 115,780 | |||
Bonds | 115,780 | |||
Won [member] | Convertible bonds [member] | ||||
Disclosure of detailed information about borrowings [Line Items] | ||||
Bonds | 858,385 | |||
Bonds | 858,385 | |||
Foreign currencies [member] | ||||
Disclosure of detailed information about borrowings [Line Items] | ||||
Bonds | $ | $ 741 | |||
Bonds | $ | 741 | |||
Bonds | 456,237 | 326,206 | ||
Gross carrying amount [member] | Won [member] | Publicly issued bonds [Member] | ||||
Disclosure of detailed information about borrowings [Line Items] | ||||
Bonds | 1,730,000 | 1,900,000 | ||
Bonds | 1,730,000 | 1,900,000 | ||
Gross carrying amount [member] | Won [member] | Privately issued bonds [member] | ||||
Disclosure of detailed information about borrowings [Line Items] | ||||
Bonds | 110,000 | 110,000 | ||
Bonds | 110,000 | 110,000 | ||
Gross carrying amount [member] | Foreign currencies [member] | ||||
Disclosure of detailed information about borrowings [Line Items] | ||||
Bonds | $ | 400 | $ 300 | ||
Bonds | $ | $ 400 | $ 300 | ||
Gross carrying amount [member] | Foreign currencies [member] | Publicly issued bonds [Member] | ||||
Disclosure of detailed information about borrowings [Line Items] | ||||
Bonds | 347,340 | 335,430 | ||
Bonds | 347,340 | 335,430 | ||
Discount on bonds [member] | Won [member] | ||||
Disclosure of detailed information about borrowings [Line Items] | ||||
Bonds | 3,404 | 3,949 | ||
Bonds | 3,404 | 3,949 | ||
Discount on bonds [member] | Foreign currencies [member] | ||||
Disclosure of detailed information about borrowings [Line Items] | ||||
Bonds | 6,883 | 9,224 | ||
Bonds | ₩ 6,883 | ₩ 9,224 | ||
Bonds issued and outstanding [member] | Won [member] | Privately issued bonds [member] | ||||
Disclosure of detailed information about borrowings [Line Items] | ||||
Bonds issued and outstanding, maturity period | April 2023 | |||
Bonds issued and outstanding [member] | Won [member] | Convertible bonds [member] | ||||
Disclosure of detailed information about borrowings [Line Items] | ||||
Bonds issued and outstanding, maturity period | August 2024 | |||
Bonds issued and outstanding [member] | Gross carrying amount [member] | Privately issued bonds [member] | ||||
Disclosure of detailed information about borrowings [Line Items] | ||||
Bonds, interest rate basis, description | 3ML + 1.47 | |||
Bonds issued and outstanding [member] | Gross carrying amount [member] | Convertible bonds [member] | ||||
Disclosure of detailed information about borrowings [Line Items] | ||||
Bonds, adjustment to interest rate basis | 1.50% | 1.50% | ||
Bonds issued and outstanding [member] | Gross carrying amount [member] | Foreign currencies [member] | Publicly issued bonds [Member] | ||||
Disclosure of detailed information about borrowings [Line Items] | ||||
Bonds issued and outstanding, maturity period | November 2021 | |||
Bonds issued and outstanding, annual interest rate | 3.88% | 3.88% | ||
Bonds issued and outstanding [member] | Bottom of range [member] | Gross carrying amount [member] | Won [member] | Publicly issued bonds [Member] | ||||
Disclosure of detailed information about borrowings [Line Items] | ||||
Bonds issued and outstanding, maturity period | May 2020 | |||
Bonds issued and outstanding, annual interest rate | 1.95% | 1.95% | ||
Bonds issued and outstanding [member] | Bottom of range [member] | Gross carrying amount [member] | Won [member] | Privately issued bonds [member] | ||||
Disclosure of detailed information about borrowings [Line Items] | ||||
Bonds issued and outstanding, maturity period | May 2025 | |||
Bonds issued and outstanding, annual interest rate | 3.25% | 3.25% | ||
Bonds issued and outstanding [member] | Top of range [member] | Gross carrying amount [member] | Won [member] | Publicly issued bonds [Member] | ||||
Disclosure of detailed information about borrowings [Line Items] | ||||
Bonds issued and outstanding, maturity period | February 2024 | |||
Bonds issued and outstanding, annual interest rate | 2.95% | 2.95% | ||
Bonds issued and outstanding [member] | Top of range [member] | Gross carrying amount [member] | Won [member] | Privately issued bonds [member] | ||||
Disclosure of detailed information about borrowings [Line Items] | ||||
Bonds issued and outstanding, maturity period | May 2033 | |||
Bonds issued and outstanding, annual interest rate | 4.25% | 4.25% |
Financial Liabilities - Detai_2
Financial Liabilities - Details of the convertible Bonds Issued and Outstanding (Detail) | 12 Months Ended | ||
Dec. 31, 2019KRW (₩)₩ / sharesshares | Dec. 31, 2019USD ($)shares | Dec. 31, 2018KRW (₩) | |
Disclosure of detailed information about borrowings [Line Items] | |||
Issuance amount | ₩ 13,480,889,000,000 | ₩ 8,558,777,000,000 | |
Redemption at the option of the issuer (Call option) | •   On or at any time after 3 years from the issuance, if the closing price of the shares for any 20 trading days out of the 30 consecutive trading days is at least 130% of the applicable conversion price•   The aggregate principal amount of the convertible bonds outstanding is less than 10% of the aggregate principal amount originally issued, or•   In the event of certain changes in laws and other directives resulting in additional taxes for the holders | ||
Aggregate outstanding amount of the convertible bonds | ₩ 13,480,889,000,000 | ₩ 8,558,777,000,000 | |
Convertible bonds [member] | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Issuance amount | ₩ 813,426,670,000 | $ 687,800,000 | |
Annual interest rate | 1.50% | 1.50% | |
Issuance date | August 22, 2019 | ||
Maturity date | August 22, 2024 | ||
Interest payment | Payable semi-annually in arrear until maturity date in equal installments commencing on issuance | ||
Principal redemption | Redemption at maturity: Redeemed on the maturity date, at their outstanding principal amount, which has not been early redeemed or converted. Advanced redemption: The Controlling Company has a right to redeem in advance (call option) and the bondholders have a right to require the Controlling Company to redeem in advance (put option). At exercise, the outstanding principal amount together with accrued but unpaid interest are to be redeemed. | ||
Conversion price | 19,845 per ordinary share (subject to adjustment based on diluted effects of certain events) | ||
Conversion period | From August 23, 2020 to August 12, 2024 | ||
Redemption at the option of the bondholders (Put option) | On the day of 3 years from the issuance | ||
Aggregate outstanding amount of the convertible bonds | ₩ 813,426,670,000 | $ 687,800,000 | |
Conversion price | ₩ / shares | ₩ 19,845 | ||
Number of common shares to be issued at conversion | shares | 40,988,998 | 40,988,998 |
Employee Benefits - Net Defined
Employee Benefits - Net Defined Benefit Liabilities (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of defined benefit plans [abstract] | ||
Present value of partially funded defined benefit obligations | ₩ 1,481,339 | ₩ 1,595,423 |
Fair value of plan assets | (1,607,253) | (1,550,063) |
Defined benefit liabilities, net | 1,338 | ₩ 45,360 |
Employee benefits assets | ₩ 127,252 |
Employee Benefits - Changes in
Employee Benefits - Changes in Present Value of Defined Benefit Obligations (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of net defined benefit liability (asset) [Line Items] | |||
Current service cost | ₩ 194,469 | ₩ 204,668 | ₩ 195,850 |
Past service cost | (32,006) | (25,749) | |
Interest cost | 534 | 961 | 2,391 |
Defined benefit obligations [member] | |||
Disclosure of net defined benefit liability (asset) [Line Items] | |||
Opening defined benefit obligations | 1,595,423 | 1,562,424 | |
Current service cost | 194,469 | 204,668 | |
Past service cost | (32,006) | (25,749) | |
Interest cost | 42,360 | 49,145 | |
Remeasurements (before tax) | (137,464) | (27,885) | |
Benefit payments | (95,675) | (88,562) | |
Curtailment of plans | (80,470) | (74,459) | |
Net transfers from (to) related parties | (5,349) | (4,217) | |
Others | 51 | 58 | |
Closing defined benefit obligations | ₩ 1,481,339 | ₩ 1,595,423 | ₩ 1,562,424 |
Employee Benefits - Additional
Employee Benefits - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of defined benefit plans [abstract] | ||
Weighted average remaining maturity of defined benefit obligations | 15 years 1 month 6 days | 14 years 4 months 24 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, 2019 | Dec. 31, 2018 | |
Disclosure of net defined benefit liability (asset) [Line Items] | ||
Beginning balance | ₩ 1,550,063 | ₩ 1,466,977 |
Expected return on plan assets | 41,826 | 48,184 |
Remeasurements (before tax) | (8,824) | (22,195) |
Contributions by employer directly to plan assets | 186,641 | 212,224 |
Benefit payments | (82,266) | (80,690) |
Net transfers from (to) related parties | 280 | |
Curtailment of plans | (80,467) | (74,437) |
Ending balance | ₩ 1,607,253 | ₩ 1,550,063 |
Employee Benefits - Details of
Employee Benefits - Details of Plan Assets (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of fair value of plan assets [abstract] | ||
Guaranteed deposits in banks | ₩ 1,607,253 | ₩ 1,550,063 |
Employee Benefits - Expenses Re
Employee Benefits - Expenses Recognized in Profit or Loss and Line Items Included in Consolidated Statements of Comprehensive Income (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of net defined benefit liability (asset) [Line Items] | |||
Current service cost | ₩ 194,469 | ₩ 204,668 | ₩ 195,850 |
Past service cost | (32,006) | (25,749) | |
Net interest cost | 534 | 961 | 2,391 |
Expenses related to defined benefit plans | 162,997 | 179,880 | 198,241 |
Cost of sales [member] | |||
Disclosure of net defined benefit liability (asset) [Line Items] | |||
Expenses related to defined benefit plans | 119,147 | 134,879 | 158,418 |
Selling expenses [member] | |||
Disclosure of net defined benefit liability (asset) [Line Items] | |||
Expenses related to defined benefit plans | 10,600 | 11,045 | 11,114 |
Administrative expenses [member] | |||
Disclosure of net defined benefit liability (asset) [Line Items] | |||
Expenses related to defined benefit plans | 18,360 | 19,472 | 16,287 |
Research and development expenses [member] | |||
Disclosure of net defined benefit liability (asset) [Line Items] | |||
Expenses related to defined benefit plans | ₩ 14,890 | ₩ 14,484 | ₩ 12,422 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of net defined benefit liability (asset) [Line Items] | |||
Group's share of associates regarding remeasurements | ₩ 238 | ₩ 20 | ₩ 441 |
Related income tax | (35,235) | (1,169) | 9,259 |
Remeasurements of net defined benefit liabilities (assets) [member] | |||
Disclosure of net defined benefit liability (asset) [Line Items] | |||
Beginning balance | (165,969) | (170,510) | (163,950) |
Actuarial profit or loss arising from: Experience adjustment | 43,644 | 56,225 | (48,890) |
Actuarial profit or loss arising from: Demographic assumptions | (19,952) | (15,379) | (7,702) |
Actuarial profit or loss arising from: Financial assumptions | 113,772 | (12,961) | 56,706 |
Return on plan assets | (8,824) | (22,195) | (16,374) |
Group's share of associates regarding remeasurements | 238 | 20 | 441 |
Remeasurements | 128,878 | 5,710 | (15,819) |
Related income tax | (35,235) | (1,169) | 9,259 |
Ending balance | ₩ (72,326) | ₩ (165,969) | ₩ (170,510) |
Employee Benefits - Principal A
Employee Benefits - Principal Actuarial Assumptions (Detail) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | ||
Expected rate of salary increase | 3.40% | 4.30% |
Discount rate for defined benefit obligations | 2.40% | 2.80% |
Males [member] | ||
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | ||
Actuarial assumption of expected rates of mortality at teenage | 0.00% | 0.01% |
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% | 0.03% |
Actuarial assumption of expected rates of mortality at fifties | 0.04% | 0.05% |
Females [member] | ||
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | ||
Actuarial assumption of expected rates of mortality at teenage | 0.00% | 0.00% |
Actuarial assumption of expected rates of mortality at twenties | 0.00% | 0.00% |
Actuarial assumption of expected rates of mortality at thirties | 0.00% | 0.01% |
Actuarial assumption of expected rates of mortality at forties | 0.01% | 0.02% |
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, 2019KRW (₩) |
Discount rate for defined benefit obligations [member] | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |
Defined benefit obligation 1% increase | ₩ (194,432) |
Defined benefit obligation 1% decrease | 237,364 |
Expected rate of salary increase [member] | |
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |
Defined benefit obligation 1% increase | 233,106 |
Defined benefit obligation 1% decrease | ₩ (194,965) |
Provisions - Changes in Provisi
Provisions - Changes in Provisions (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of other provisions [Line Items] | ||
Beginning balance | ₩ 131,018 | ₩ 104,328 |
Adjustment from adoption of IFRS 15 | 9,789 | |
Additions (reversals) | 439,466 | 232,234 |
Usage and reclassification | (313,841) | (215,333) |
Ending balance | 256,643 | 131,018 |
Current | 189,525 | 98,254 |
Non-current | 67,118 | 32,764 |
Litigations and claims [member] | ||
Disclosure of other provisions [Line Items] | ||
Beginning balance | 43 | |
Additions (reversals) | 3,073 | |
Usage and reclassification | (3,073) | (43) |
Warranties [member] | ||
Disclosure of other provisions [Line Items] | ||
Beginning balance | 122,088 | 102,450 |
Additions (reversals) | 418,942 | 234,928 |
Usage and reclassification | (310,768) | (215,290) |
Ending balance | 230,262 | 122,088 |
Current | 163,144 | 89,324 |
Non-current | 67,118 | 32,764 |
Others [member] | ||
Disclosure of other provisions [Line Items] | ||
Beginning balance | 8,930 | 1,835 |
Adjustment from adoption of IFRS 15 | 9,789 | |
Additions (reversals) | 17,451 | (2,694) |
Ending balance | 26,381 | 8,930 |
Current | ₩ 26,381 | ₩ 8,930 |
Provisions - Changes in Provi_2
Provisions - Changes in Provisions (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of other provisions [abstract] | |
Applicable period from the date of purchase for warranties covering defective products | 18~36 months |
Other Liabilities - Summary of
Other Liabilities - Summary of Other Liabilities (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Current liabilities | ||
Withholdings | ₩ 28,376 | ₩ 30,970 |
Unearned revenues | 44,333 | 43,841 |
Security deposits | 9,310 | 165 |
Other current liabilities | 82,019 | 74,976 |
Non-current liabilities | ||
Long-term accrued expenses | 78,537 | 80,817 |
Long-term other accounts payable | 1,069 | 3,103 |
Long-term advances received | 6,852 | 2,116 |
Security deposits | 1,690 | 10,790 |
Other non-current liabilities | ₩ 88,148 | ₩ 96,826 |
Contingent Liabilities and Co_3
Contingent Liabilities and Commitments - Additional Information (Detail) € in Millions, ₫ in Millions, ₩ in Millions, ¥ in Millions, ¥ in Millions, $ in Millions | Dec. 31, 2019KRW (₩) | Dec. 31, 2019USD ($) | Dec. 31, 2019JPY (¥) | Dec. 31, 2019CNY (¥) | Dec. 31, 2019EUR (€) | Dec. 31, 2019VND (₫) | Dec. 31, 2018KRW (₩) |
Disclosure of contingent liabilities [Line Items] | |||||||
Maximum aggregate accounts receivable sales negotiating facilities entered into with several banks | ₩ 1,574,608 | $ 1,360 | |||||
Long-term advances | 320,582 | ₩ 1,114,316 | |||||
Long-term supply agreements [member] | |||||||
Disclosure of contingent liabilities [Line Items] | |||||||
Long-term advances | 1,013,075 | 875 | |||||
KEB Hana Bank [member] | |||||||
Disclosure of contingent liabilities [Line Items] | |||||||
Payment guarantees obtained from banks for certain tax payments and settlement of litigation | 1,244,635 | 1,075 | |||||
KEB Hana Bank [member] | Top of range [member] | |||||||
Disclosure of contingent liabilities [Line Items] | |||||||
Undrawn borrowing facilities | 173,670 | 150 | |||||
Bank of China [member] | Top of range [member] | |||||||
Disclosure of contingent liabilities [Line Items] | |||||||
Undrawn borrowing facilities | $ | 50 | ||||||
Bank of China [member] | LG Display (China) Co., Ltd. [member] | CNY [member] | |||||||
Disclosure of contingent liabilities [Line Items] | |||||||
Payment guarantees obtained from banks for certain tax payments and settlement of litigation | 128,863 | ¥ 778 | |||||
Bank of China [member] | LG Display (China) Co., Ltd. [member] | JPY [member] | |||||||
Disclosure of contingent liabilities [Line Items] | |||||||
Payment guarantees obtained from banks for certain tax payments and settlement of litigation | 9,571 | ¥ 900 | |||||
Bank of China [member] | LG Display (China) Co., Ltd. [member] | USD [member] | |||||||
Disclosure of contingent liabilities [Line Items] | |||||||
Payment guarantees obtained from banks for certain tax payments and settlement of litigation | $ | 0.5 | ||||||
Bank of China [member] | LG Display (China) Co., Ltd. [member] | EUR [member] | |||||||
Disclosure of contingent liabilities [Line Items] | |||||||
Payment guarantees obtained from banks for certain tax payments and settlement of litigation | 3,244 | € 2.5 | |||||
Bank of China [member] | LG Display (China) Co., Ltd. [member] | PLN [member] | |||||||
Disclosure of contingent liabilities [Line Items] | |||||||
Payment guarantees obtained from banks for certain tax payments and settlement of litigation | 579 | ||||||
Bank of China [member] | LG Display (China) Co., Ltd. [member] | VND [member] | |||||||
Disclosure of contingent liabilities [Line Items] | |||||||
Payment guarantees obtained from banks for certain tax payments and settlement of litigation | 2,320 | ₫ 46,394 | |||||
Sumitomo Mitsui Banking Corporation [member] | Top of range [member] | |||||||
Disclosure of contingent liabilities [Line Items] | |||||||
Undrawn borrowing facilities | 57,890 | ||||||
Korea Development Bank [member] | |||||||
Disclosure of contingent liabilities [Line Items] | |||||||
Payment guarantees obtained from banks for certain tax payments and settlement of litigation | 354,070 | 306 | |||||
KEB Hana Bank and Other Various Banks [member] | |||||||
Disclosure of contingent liabilities [Line Items] | |||||||
Payment guarantees obtained from banks for certain tax payments and settlement of litigation | 1,244,635 | 1,075 | |||||
Industrial Bank of Korea [Member] | Top of range [member] | |||||||
Disclosure of contingent liabilities [Line Items] | |||||||
Undrawn borrowing facilities | 115,780 | 100 | |||||
Industrial and Commercial Bank of China [Member] | Top of range [member] | |||||||
Disclosure of contingent liabilities [Line Items] | |||||||
Undrawn borrowing facilities | ₩ 115,780 | $ 100 |
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, 2019 ₩ in Millions, $ in Millions | KRW (₩) | USD ($) |
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | ₩ 3,507,776 | |
Won [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 220,000 | |
Not yet due contractual amount of sold accounts receivables before maturity | 925,937 | |
USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | $ | $ 2,840 | |
Not yet due contractual amount of sold accounts receivables before maturity | $ | 800 | |
Parent [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 220,000 | |
Parent [member] | Won [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 671,542 | |
Not yet due contractual amount of sold accounts receivables before maturity | 25,528 | |
Parent [member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | $ | 390 | |
Not yet due contractual amount of sold accounts receivables before maturity | $ | 22 | |
Parent [member] | Shinhan bank [member] | Won [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 90,000 | |
Parent [member] | Shinhan bank [member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 28,945 | 25 |
Parent [member] | Sumitomo Mitsui Banking Corporation [member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 23,156 | 20 |
Parent [member] | Bank of Tokyo-Mitsubishi UFJ [member] | Won [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 130,000 | |
Parent [member] | Bank of Tokyo-Mitsubishi UFJ [member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 81,046 | 70 |
Not yet due contractual amount of sold accounts receivables before maturity | 4,640 | 4 |
Parent [member] | BNP Paribas [member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 144,725 | 125 |
Not yet due contractual amount of sold accounts receivables before maturity | 20,888 | 18 |
Parent [member] | ING Bank [member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 173,670 | 150 |
Consolidated subsidiaries [member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 2,836,234 | 2,450 |
Not yet due contractual amount of sold accounts receivables before maturity | 900,409 | 778 |
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 | 347,340 | 300 |
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 | 17,367 | 15 |
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 | 81,046 | 70 |
Consolidated subsidiaries [member] | LG Display Taiwan Co., Ltd. [member] | Taishin International Bank [member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 324,184 | 280 |
Not yet due contractual amount of sold accounts receivables before maturity | 23,157 | 20 |
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 | 86,835 | 75 |
Consolidated subsidiaries [member] | LG Display Germany GmbH [member] | Commerzbank AG [Member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 4,030 | 3 |
Not yet due contractual amount of sold accounts receivables before maturity | 4,142 | 4 |
Consolidated subsidiaries [member] | LG Display Germany GmbH [member] | Citibank [member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 92,624 | 80 |
Consolidated subsidiaries [member] | LG Display Germany GmbH [member] | DZ Bank AG [Member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 4,229 | 4 |
Not yet due contractual amount of sold accounts receivables before maturity | 1,859 | 2 |
Consolidated subsidiaries [member] | LG Display Germany GmbH [member] | UniCreditBank [Member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 26,099 | 23 |
Not yet due contractual amount of sold accounts receivables before maturity | 3,827 | 3 |
Consolidated subsidiaries [member] | LG Display America, Inc. [member] | Sumitomo Mitsui Banking Corporation [member] | USD [member] | ||
Disclosure of contingent liabilities [Line Items] | ||
Maximum contractual amount of accounts receivables sales | 231,560 | 200 |
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 | 694,680 | 600 |
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 | 926,240 | 800 |
Not yet due contractual amount of sold accounts receivables before maturity | ₩ 867,424 | $ 749 |
Capital and Reserves - Addition
Capital and Reserves - Additional Information (Detail) - ₩ / shares | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
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 | 357,815,700 |
Capital and Reserves - Summary
Capital and Reserves - Summary of Reserves at Reporting Date (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of reserves within equity [abstract] | ||||
Foreign currency translation differences for foreign operations | ₩ (178,452) | ₩ (272,474) | ||
Other comprehensive loss from associates (excluding remeasurements of net defined benefit liabilities) | (24,569) | (28,494) | ||
Reserves | ₩ (203,021) | ₩ (300,968) | ₩ (288,280) | ₩ (88,478) |
Capital and Reserves - Movement
Capital and Reserves - Movement in Reserves (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of reserves within equity [Line Items] | |||
Beginning balance | ₩ (300,968) | ₩ (288,280) | ₩ (88,478) |
Change in reserves | 97,947 | (12,688) | (199,802) |
Ending balance | (203,021) | (300,968) | (288,280) |
Foreign currency translation differences for foreign operations [member] | |||
Disclosure of reserves within equity [Line Items] | |||
Beginning balance | (272,474) | (259,749) | (59,042) |
Change in reserves | 94,022 | (12,725) | (200,707) |
Ending balance | (178,452) | (272,474) | (259,749) |
Amount recognized in other comprehensive income loss from associates excluding remeasurements [member] | |||
Disclosure of reserves within equity [Line Items] | |||
Beginning balance | (28,494) | (28,531) | (29,436) |
Change in reserves | 3,925 | 37 | 905 |
Ending balance | ₩ (24,569) | ₩ (28,494) | ₩ (28,531) |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of geographical areas [Line Items] | |||
Revenue | ₩ 23,475,567 | ₩ 24,336,571 | ₩ 27,790,216 |
Property, plant and equipment | 22,087,645 | 21,600,130 | 16,201,960 |
Intangible assets | 873,448 | 987,642 | 912,821 |
Domestic [member] | |||
Disclosure of geographical areas [Line Items] | |||
Revenue | 1,264,639 | 1,589,452 | 1,996,183 |
Property, plant and equipment | 12,764,240 | 14,984,688 | |
Intangible assets | 708,047 | 816,808 | |
China [member] | |||
Disclosure of geographical areas [Line Items] | |||
Revenue | 15,432,503 | 15,242,533 | 18,090,974 |
Property, plant and equipment | 7,391,279 | 5,049,216 | |
Intangible assets | 34,337 | 12,332 | |
Other countries [member] | |||
Disclosure of geographical areas [Line Items] | |||
Property, plant and equipment | 1,932,126 | 1,566,226 | |
Intangible assets | 131,064 | 158,502 | |
Foreign countries [member] | |||
Disclosure of geographical areas [Line Items] | |||
Revenue | 22,210,928 | 22,747,119 | 25,794,033 |
Property, plant and equipment | 9,323,405 | 6,615,442 | |
Intangible assets | 165,401 | 170,834 | |
Asia (excluding China) [member] | |||
Disclosure of geographical areas [Line Items] | |||
Revenue | 2,404,739 | 2,481,112 | 2,383,390 |
United States [member] | |||
Disclosure of geographical areas [Line Items] | |||
Revenue | 1,940,321 | 2,462,918 | 2,724,714 |
Europe (excluding Poland) [member] | |||
Disclosure of geographical areas [Line Items] | |||
Revenue | 1,475,942 | 1,496,138 | 1,433,126 |
Poland [member] | |||
Disclosure of geographical areas [Line Items] | |||
Revenue | ₩ 957,423 | ₩ 1,064,418 | ₩ 1,161,829 |
Geographic and Other Informat_4
Geographic and Other Information - Additional Information (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of geographical areas [Line Items] | |||
Sales revenue | ₩ 23,475,567 | ₩ 24,336,571 | ₩ 27,790,216 |
Company A [member] | |||
Disclosure of geographical areas [Line Items] | |||
Sales revenue | 8,494,720 | 7,262,255 | 9,027,165 |
Company B [member] | |||
Disclosure of geographical areas [Line Items] | |||
Sales revenue | ₩ 4,501,790 | ₩ 5,171,354 | ₩ 6,511,961 |
Top 10 Companies [member] | |||
Disclosure of geographical areas [Line Items] | |||
Percentage of sales revenue | 80.00% | 77.00% | 81.00% |
Geographic and Other Informat_5
Geographic and Other Information - Revenue by Product and Services (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of products and services [Line Items] | |||
Revenue | ₩ 23,475,567 | ₩ 24,336,571 | ₩ 27,790,216 |
Televisions [member] | |||
Disclosure of products and services [Line Items] | |||
Revenue | 7,998,137 | 9,727,260 | 11,717,982 |
Desktop monitors [member] | |||
Disclosure of products and services [Line Items] | |||
Revenue | 4,028,007 | 4,040,025 | 4,393,482 |
Tablet products [member] | |||
Disclosure of products and services [Line Items] | |||
Revenue | 2,251,049 | 1,990,766 | 2,369,634 |
Notebook computers [member] | |||
Disclosure of products and services [Line Items] | |||
Revenue | 2,783,718 | 2,836,888 | 2,244,088 |
Mobile and others [member] | |||
Disclosure of products and services [Line Items] | |||
Revenue | ₩ 6,414,656 | ₩ 5,741,632 | ₩ 7,065,030 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Expenses by nature [abstract] | |||
Changes in inventories | ₩ 640,048 | ₩ (341,120) | ₩ (62,299) |
Purchases of raw materials, merchandise and others | 12,580,796 | 12,863,812 | 13,548,848 |
Depreciation and amortization | 3,695,051 | 3,554,565 | 3,214,576 |
Outsourcing | 865,935 | 825,393 | 771,697 |
Labor | 3,072,877 | 3,222,110 | 3,258,427 |
Supplies and others | 813,262 | 1,010,352 | 1,239,915 |
Utility | 896,112 | 899,075 | 865,347 |
Fees and commissions | 695,245 | 722,134 | 692,125 |
Shipping | 196,002 | 240,288 | 249,820 |
Advertising | 193,436 | 112,400 | 236,440 |
Warranty | 418,942 | 234,928 | 251,131 |
Travel | 95,074 | 104,009 | 92,976 |
Taxes and dues | 109,473 | 123,210 | 91,806 |
Impairment loss on property, plant and equipment | 1,550,430 | 43,601 | |
Impairment loss on intangible assets | 249,450 | 82 | 1,809 |
Others | 625,504 | 713,990 | 917,242 |
Expenses by nature | ₩ 26,697,637 | ₩ 24,328,829 | ₩ 25,369,860 |
Selling and Administrative Ex_3
Selling and Administrative Expenses - Details of Selling and Administrative Expenses (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of comprehensive income [Line Items] | |||
Expenses related to defined benefit plans | ₩ 162,997 | ₩ 179,880 | ₩ 198,241 |
Shipping | 196,002 | 240,288 | 249,820 |
Fees and commissions | 695,245 | 722,134 | 692,125 |
Taxes and dues | 109,473 | 123,210 | 91,806 |
Advertising | 193,436 | 112,400 | 236,440 |
Warranty | 418,942 | 234,928 | 251,131 |
Travel | 95,074 | 104,009 | 92,976 |
Others | 625,504 | 713,990 | 917,242 |
Selling, general and administrative expenses | 2,005,731 | 1,772,276 | 1,690,505 |
Selling general and administrative expenses [member] | |||
Statement of comprehensive income [Line Items] | |||
Salaries | 514,736 | 500,610 | 327,288 |
Expenses related to defined benefit plans | 29,018 | 30,724 | 27,401 |
Other employee benefits | 77,690 | 90,348 | 94,740 |
Shipping | 162,509 | 200,434 | 214,866 |
Fees and commissions | 219,784 | 221,050 | 197,070 |
Depreciation | 225,909 | 174,575 | 138,711 |
Taxes and dues | 49,826 | 65,621 | 46,317 |
Advertising | 193,436 | 112,400 | 236,440 |
Warranty | 418,942 | 234,928 | 251,131 |
Rent | 2,887 | 26,691 | 26,711 |
Insurance | 11,386 | 11,584 | 12,459 |
Travel | 23,594 | 24,659 | 27,879 |
Training | 12,215 | 13,309 | 16,311 |
Others | ₩ 63,799 | ₩ 65,343 | ₩ 73,181 |
Selling and Administrative Ex_4
Selling and Administrative Expenses - Details of Selling and Administrative Expenses (Parenthetical) (Detail) - Selling general and administrative expenses [member] - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Statement of comprehensive income [Line Items] | ||
Employee termination benefits | ₩ 218,826 | ₩ 184,941 |
Expense related to the define contribution plan | ₩ 58 | ₩ 111 |
Personnel Expenses - Disclosure
Personnel Expenses - Disclosure of Details of Personnel Expenses (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of comprehensive income [Line Items] | |||
Personnel expenses | ₩ 3,264,306 | ₩ 3,476,588 | ₩ 3,459,223 |
Personnel expenses [member] | |||
Statement of comprehensive income [Line Items] | |||
Salaries and wages | 2,553,485 | 2,720,014 | 2,704,217 |
Other employee benefits | 473,916 | 500,169 | 483,704 |
Contributions to National Pension plan | 73,148 | 75,668 | 73,061 |
Expenses related to defined benefit plan and defined contribution plan | ₩ 163,757 | ₩ 180,737 | ₩ 198,241 |
Personnel Expenses - Disclosu_2
Personnel Expenses - Disclosure of Details of Personnel Expenses (Parenthetical) (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Personnel expenses [member] | ||
Statement of comprehensive income [Line Items] | ||
Expense related to the define contribution plan | ₩ 760 | ₩ 857 |
Other Income and Other Expens_3
Other Income and Other Expenses - Summary of Other Income (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Analysis of income and expense [abstract] | |||
Foreign currency gain | ₩ 1,174,376 | ₩ 970,306 | ₩ 969,425 |
Gain on disposal of property, plant and equipment | 35,788 | 6,620 | 101,227 |
Gain on disposal of intangible assets | 552 | 239 | 308 |
Reversal of impairment loss on intangible assets | 960 | 348 | 35 |
Rental income | 3,098 | 3,584 | 2,212 |
Gain on disposal of non-current assets held for sales | 8,353 | ||
Others | 44,124 | 23,040 | 8,539 |
Other income | ₩ 1,267,251 | ₩ 1,004,137 | ₩ 1,081,746 |
Other Income and Other Expens_4
Other Income and Other Expenses - Summary of Other Expenses (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Analysis of income and expense [abstract] | |||
Foreign currency loss | ₩ 1,235,054 | ₩ 1,030,084 | ₩ 1,189,193 |
Other bad debt expenses | 1,379 | 4 | 1,798 |
Loss on disposal of property, plant and equipment | 40,897 | 15,048 | 20,030 |
Impairment loss on property, plant and equipment | 1,550,430 | 43,601 | |
Loss on disposal of intangible assets | 139 | 30 | |
Impairment loss on intangible assets | 249,450 | 82 | 1,809 |
Donations | 693 | 7,698 | 17,152 |
Others | 19,701 | 18,716 | 443 |
Other expenses | ₩ 3,097,743 | ₩ 1,115,233 | ₩ 1,230,455 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Finance income | |||
Interest income | ₩ 53,378 | ₩ 69,020 | ₩ 60,106 |
Foreign currency gain | 135,006 | 160,989 | 210,890 |
Gain on disposal of investments in equity accounted investees | 4,531 | 3,669 | |
Reversal of impairment loss of investments in equity accounted investees | 1,744 | 802 | |
Gain on transaction of derivatives | 21,752 | 2,075 | 3,106 |
Gain on valuation of derivatives | 59,781 | 13,059 | 1,070 |
Gain on disposal of available-for-sale financial assets | 8 | ||
Gain on disposal of financial asset at fair value through profit or loss | 138 | ||
Gain on valuation of financial asset at fair value through profit or loss | 402 | 8,186 | 170 |
Finance income | 276,732 | 254,131 | 279,019 |
Finance costs | |||
Interest expense | 172,750 | 80,517 | 90,538 |
Foreign currency loss | 154,421 | 184,309 | 126,642 |
Loss on disposal of investments in equity accounted investees | 595 | 42,112 | |
Loss on impairment of investments in equity accounted investees | 5,123 | 17,397 | 4,234 |
Loss on sale of trade accounts and notes receivable | 19,728 | 13,361 | 784 |
Loss on transaction of derivatives | 49 | 514 | |
Loss on valuation of derivatives | 17,999 | 26,600 | |
Loss on impairment of available-for-sale financial assets | 1,948 | ||
Loss on valuation of financial asset at fair value through profit or loss | 4,630 | 225 | |
Loss on valuation of financial liabilities at fair value through profit or loss | 56,384 | ||
Others | 12,212 | 3,840 | 2,084 |
Finance costs | ₩ 443,247 | ₩ 326,893 | ₩ 268,856 |
Finance Income and Finance Co_4
Finance Income and Finance Costs - Finance Income and Costs Recognized in Other Comprehensive Income or Loss (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Analysis of income and expense [abstract] | |||
Foreign currency translation differences for foreign operations | ₩ 106,690 | ₩ (19,987) | ₩ (231,738) |
Finance income (costs) recognized in other comprehensive income (loss) after tax | ₩ 106,690 | ₩ (19,987) | ₩ (231,738) |
Income Taxes - Details of Incom
Income Taxes - Details of Income Tax Expense (Benefit) Recognized in Profit (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Current tax expense | |||
Current year | ₩ 193,691 | ₩ 167,394 | ₩ 512,123 |
Adjustment for prior years | (35,787) | 82,225 | |
Current tax expense (income) and adjustments for current tax of prior periods | 157,904 | 249,619 | 512,123 |
Deferred tax expense (benefit) | |||
Origination and reversal of temporary differences | (963,385) | (226,360) | (104,835) |
Change in unrecognized deferred tax assets | 333,317 | 64,818 | (11,708) |
Deferred tax expense (benefit) | (630,068) | (161,542) | (116,543) |
Actual income tax expense | ₩ (472,164) | ₩ 88,077 | ₩ 395,580 |
Income Taxes - Income Taxes Rec
Income Taxes - Income Taxes Recognized Directly in Other Comprehensive Income (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income tax relating to components of other comprehensive income [abstract] | |||
Remeasurements of net defined benefit liabilities (assets), before tax | ₩ 128,640 | ₩ 5,690 | ₩ (16,260) |
Foreign currency translation differences for foreign operations, before tax | 106,690 | (19,987) | (231,738) |
Change in equity of equity method investee, before tax | 4,163 | 57 | 1,346 |
Other comprehensive income, before tax | 239,493 | (14,240) | (246,652) |
Related income tax | (35,235) | (1,169) | 9,259 |
Foreign currency translation differences for foreign operations, tax benefit (expense) | 0 | 0 | 0 |
Change in equity of equity method investee, tax benefit (expense) | 0 | 0 | 0 |
Other comprehensive income, tax benefit (expense) | (35,235) | (1,169) | 9,259 |
Remeasurements of net defined benefit liabilities (assets), net of tax | 93,405 | 4,521 | (7,001) |
Foreign currency translation differences for foreign operations, net of tax | 106,690 | (19,987) | (231,738) |
Change in equity of equity method investee, net of tax | 4,163 | 57 | 1,346 |
Other comprehensive income (loss) for the year, net of income tax | ₩ 204,258 | ₩ (15,409) | ₩ (237,393) |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Actual Effective Tax Rate (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income tax relating to components of other comprehensive income [abstract] | |||
Income tax expense (benefit) using each country's tax rate | 23.94% | (33.60%) | 28.54% |
Non-deductible expenses, percentage | (0.95%) | (40.07%) | 2.72% |
Tax credits, percentage | 1.47% | 117.27% | (10.64%) |
Change in unrecognized deferred tax assets | (9.97%) | (70.94%) | (0.50%) |
Adjustment for prior years | 1.07% | (90.00%) | |
Effect on change in tax rate, percentage | (0.40%) | 15.68% | (3.10%) |
Others, percentage | (1.05%) | 5.25% | (0.06%) |
Actual effective tax rate | 16.96% | ||
Profit (loss) before income taxes | ₩ (3,344,242) | ₩ (91,366) | ₩ 2,332,632 |
Income tax expense (benefit) using each country's tax rate, amount | (800,660) | 30,695 | 665,733 |
Non-deductible expenses, amount | 31,649 | 36,608 | 63,416 |
Tax credits, amount | (49,269) | (107,146) | (248,191) |
Change in unrecognized deferred tax assets, amount | 333,318 | 64,818 | (11,708) |
Adjustment for prior years | (35,787) | 82,225 | |
Effect on change in tax rate (Note 24(d)) | 13,353 | (14,326) | (72,376) |
Others | 35,232 | (4,797) | (1,294) |
Actual income tax expense | ₩ (472,164) | ₩ 88,077 | ₩ 395,580 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - KRW (₩) ₩ in Billions | 1 Months Ended | |
Jul. 31, 2019 | Jun. 30, 2019 | |
Major components of tax expense (income) [abstract] | ||
Additional tax expense | ₩ 127.1 | |
Amount involved in double taxation avoidance agreement | ₩ 109.2 |
Deferred Tax Assets and Liabi_3
Deferred Tax Assets and Liabilities - Additional Information (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
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 | ₩ 69,758 | ₩ 85,368 |
Deferred Tax Assets and Liabi_4
Deferred Tax Assets and Liabilities - Tax Credit Carryforwards Expiration Dates (Detail) - Tax credits carry forwards [member] ₩ in Millions | Dec. 31, 2019KRW (₩) |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |
Tax credit carryforwards | ₩ 549,056 |
December 31, 2020 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |
Tax credit carryforwards | 44,692 |
December 31, 2021 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |
Tax credit carryforwards | 70,646 |
December 31, 2022 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |
Tax credit carryforwards | 220,135 |
December 31, 2023 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |
Tax credit carryforwards | 114,845 |
December 31, 2024 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |
Tax credit carryforwards | ₩ 98,738 |
Deferred Tax Assets and Liabi_5
Deferred Tax Assets and Liabilities - Details of Deferred Tax Assets and Liabilities (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Assets | ₩ 1,727,122 | ₩ 1,136,166 | |
Liabilities | (11,210) | (15,087) | |
Gross carrying amount [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Assets | 1,777,514 | 1,145,840 | |
Liabilities | (61,602) | (24,761) | |
Total | 1,715,912 | 1,121,079 | ₩ 960,706 |
Gross carrying amount [member] | Other accounts receivable, net [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Liabilities | (4,364) | (1,013) | |
Total | (4,364) | (1,013) | (1,441) |
Gross carrying amount [member] | Inventories, net [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Assets | 89,522 | 60,606 | |
Total | 89,522 | 60,606 | 34,550 |
Gross carrying amount [member] | Investments in subsidiaries and associates [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Assets | 0 | 13,404 | |
Liabilities | (20,015) | ||
Total | (20,015) | 13,404 | |
Gross carrying amount [member] | Accrued expenses [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Assets | 131,196 | 126,072 | |
Total | 131,196 | 126,072 | 183,903 |
Gross carrying amount [member] | Property, plant and equipment [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Assets | 691,599 | 445,721 | |
Liabilities | (21,690) | (1,495) | |
Total | 669,909 | 444,226 | 409,928 |
Gross carrying amount [member] | Intangible assets [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Assets | 21,886 | 3,468 | |
Liabilities | (10,759) | (14,588) | |
Total | 11,127 | (11,120) | (21,189) |
Gross carrying amount [member] | provisions [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Assets | 59,875 | 32,468 | |
Liabilities | (4,446) | ||
Total | 55,429 | 32,468 | 27,018 |
Gross carrying amount [member] | Gain or loss on foreign currency translation, net [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Assets | 13 | ||
Total | 0 | 13 | 13 |
Gross carrying amount [member] | Others [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Assets | 137,667 | 20,850 | |
Liabilities | (328) | (7,665) | |
Total | 137,339 | 13,185 | 27,562 |
Gross carrying amount [member] | Tax credits carry forwards [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Assets | 38,337 | 308,393 | |
Total | 38,337 | 308,393 | |
Gross carrying amount [member] | Tax loss carry forwards [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Assets | 607,432 | 134,845 | |
Total | ₩ 607,432 | ₩ 134,845 | ₩ 268,926 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Other comprehensive loss | ₩ (35,235) | ₩ (1,169) | ₩ 9,259 |
Gross carrying amount [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Beginning balance | 1,121,079 | 960,706 | |
Profit or loss | 630,068 | 161,542 | |
Other comprehensive loss | (35,235) | (1,169) | |
Ending balance | 1,715,912 | 1,121,079 | 960,706 |
Gross carrying amount [member] | Other accounts receivable, net [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Beginning balance | (1,013) | (1,441) | |
Profit or loss | (3,351) | 428 | |
Ending balance | (4,364) | (1,013) | (1,441) |
Gross carrying amount [member] | Inventories, net [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Beginning balance | 60,606 | 34,550 | |
Profit or loss | 28,916 | 26,056 | |
Ending balance | 89,522 | 60,606 | 34,550 |
Gross carrying amount [member] | Defined benefit obligations [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Beginning balance | 2,375 | ||
Profit or loss | 35,235 | (1,206) | |
Other comprehensive loss | (35,235) | (1,169) | |
Ending balance | 0 | 2,375 | |
Gross carrying amount [member] | Accrued expenses [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Beginning balance | 126,072 | 183,903 | |
Profit or loss | 5,124 | (57,831) | |
Ending balance | 131,196 | 126,072 | 183,903 |
Gross carrying amount [member] | Property, plant and equipment [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Beginning balance | 444,226 | 409,928 | |
Profit or loss | 225,683 | 34,298 | |
Ending balance | 669,909 | 444,226 | 409,928 |
Gross carrying amount [member] | Intangible assets [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Beginning balance | (11,120) | (21,189) | |
Profit or loss | 22,247 | 10,069 | |
Ending balance | 11,127 | (11,120) | (21,189) |
Gross carrying amount [member] | provisions [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Beginning balance | 32,468 | 27,018 | |
Profit or loss | 22,961 | 5,450 | |
Ending balance | 55,429 | 32,468 | 27,018 |
Gross carrying amount [member] | Gain or loss on foreign currency translation, net [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Beginning balance | 13 | 13 | |
Profit or loss | (13) | ||
Ending balance | 0 | 13 | 13 |
Gross carrying amount [member] | Others [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Beginning balance | 13,185 | 27,562 | |
Profit or loss | 124,154 | (14,377) | |
Ending balance | 137,339 | 13,185 | 27,562 |
Gross carrying amount [member] | Tax credits carry forwards [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Beginning balance | 308,393 | ||
Profit or loss | 472,587 | 134,845 | |
Ending balance | 38,337 | 308,393 | |
Gross carrying amount [member] | Tax loss carry forwards [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Beginning balance | 134,845 | 268,926 | |
Profit or loss | (270,056) | 39,467 | |
Ending balance | 607,432 | 134,845 | 268,926 |
Gross carrying amount [member] | Subsidiaries and associates [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Beginning balance | 13,404 | 29,061 | |
Profit or loss | (33,419) | (15,657) | |
Ending balance | ₩ (20,015) | ₩ 13,404 | ₩ 29,061 |
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 (₩) ₩ / shares in Units, ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Basic earnings per share [abstract] | |||
Profit (loss) attributable to owners of the Controlling Company | ₩ (2,829,705) | ₩ (207,239) | ₩ 1,802,756 |
Weighted-average number of common stocks outstanding | 357,815,700 | 357,815,700 | 357,815,700 |
Earnings (loss) per share | ₩ (7,908) | ₩ (579) | ₩ 5,038 |
Earnings (Loss) Per Share Att_4
Earnings (Loss) Per Share Attributable to Owners of the Controlling Company - Additional Information (Detail) | Dec. 31, 2019shares |
Basic earnings per share [abstract] | |
Anti-dilution shares | 40,988,998 |
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 | Dec. 31, 2019KRW (₩) | Dec. 31, 2019USD ($) | Dec. 31, 2019JPY (¥) | Dec. 31, 2019CNY (¥) | Dec. 31, 2019TWD ($) | Dec. 31, 2019EUR (€) | Dec. 31, 2019PLN (zł) | Dec. 31, 2019VND (₫) | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2018JPY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2018TWD ($) | Dec. 31, 2018EUR (€) | Dec. 31, 2018PLN (zł) | Dec. 31, 2018VND (₫) | Dec. 31, 2017KRW (₩) | Dec. 31, 2016KRW (₩) |
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||||||||||||||||||
Cash and cash equivalents | ₩ 3,336,003 | ₩ 2,365,022 | ₩ 2,602,560 | ₩ 1,558,696 | ||||||||||||||
Trade accounts and notes receivable | 3,154,080 | 2,829,163 | ||||||||||||||||
Non-trade receivable | 463,614 | 159,238 | ||||||||||||||||
Trade accounts and notes payable | (2,353,355) | |||||||||||||||||
Other accounts payable | (4,397,121) | ₩ (3,566,629) | ||||||||||||||||
Financial liabilities | ₩ 20,617,444 | |||||||||||||||||
Currency risk [member] | ||||||||||||||||||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||||||||||||||||||
Cash and cash equivalents | $ 1,594 | ¥ 68 | ¥ 8,360 | $ 33 | € 5 | zł 25 | ₫ 28,663 | $ 790 | ¥ 83 | ¥ 5,515 | $ 121 | € 8 | zł 206 | ₫ 2,070,889 | ||||
Trade accounts and notes receivable | 2,485 | 19 | 550 | 2,175 | 7 | 1,098 | ||||||||||||
Non-trade receivable | 276 | 455 | 230 | 3 | 2 | 0 | 13,131 | 21 | 852 | 201 | 3 | 4 | 23,182 | |||||
Other assets denominated in foreign currencies | 29 | 526 | 5,668 | 369 | 5 | 503 | 4,032 | 33 | 220 | 11,157 | 108 | 12 | 23 | 2,782 | ||||
Trade accounts and notes payable | (628) | (9,043) | (2,289) | (291,891) | (863) | (12,501) | (2,862) | (355,390) | ||||||||||
Other accounts payable | (488) | (12,396) | (3,239) | (4) | (10) | 0 | (786,356) | (928) | (20,326) | (4,762) | (6) | (3) | (4) | (1,585,130) | ||||
Financial liabilities | (4,255) | (20,436) | (2,571) | (5,198) | ||||||||||||||
Aggregate notional amounts in the consolidated statements of financial position | (987) | (20,371) | (11,156) | 401 | 2 | 528 | (1,032,421) | (1,343) | (31,665) | 5,149 | 226 | 21 | 225 | 156,333 | ||||
Currency swap contracts | $ | 2,085 | 780 | ||||||||||||||||
Net exposure | $ 1,098 | ¥ (20,371) | ¥ (11,156) | $ 401 | € 2 | zł 528 | ₫ (1,032,421) | $ (563) | ¥ (31,665) | ¥ 5,149 | $ 226 | € 21 | zł 225 | ₫ 156,333 |
Financial Risk Management - Ave
Financial Risk Management - Average Exchange Rates Applied during Reporting Periods (Detail) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
USD [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Average rate | 1,165.46 | 1,100.21 | 1,131.08 |
Reporting date spot rate | 1,157.80 | 1,118.10 | |
JPY [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Average rate | 10.70 | 9.96 | 10.09 |
Reporting date spot rate | 10.63 | 10.13 | |
CNY [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Average rate | 168.56 | 166.41 | 167.52 |
Reporting date spot rate | 165.74 | 162.76 | |
TWD [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Average rate | 37.74 | 36.51 | 37.16 |
Reporting date spot rate | 38.48 | 36.58 | |
EUR [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Average rate | 1,304.52 | 1,298.53 | 1,277.01 |
Reporting date spot rate | 1,297.43 | 1,279.16 | |
PLN [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Average rate | 303.62 | 304.87 | 299.98 |
Reporting date spot rate | 304.87 | 297.33 | |
VND [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Average rate | 0.0502 | 0.0478 | 0.0498 |
Reporting date spot rate | 0.0500 | 0.0482 |
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, 2019 | Dec. 31, 2018 |
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 | ₩ 23,570 | ₩ (46,136) |
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 | (8,397) | (12,060) |
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 | (92,454) | 41,779 |
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 | 772 | 413 |
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 | 221 | 1,197 |
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 | 8,036 | 3,451 |
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 | (1,871) | 273 |
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 | 105,398 | 38,725 |
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 | (6,418) | (10,497) |
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 | 11 | 318 |
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 | 1 | |
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 | (278) | 390 |
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 | 28 | (236) |
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 | ₩ (1,871) | ₩ 273 |
Financial Risk Management - Add
Financial Risk Management - Additional Information (Detail) - Dec. 31, 2019 ₩ in Millions, $ in Millions | KRW (₩) | USD ($) |
Interest rate swap contract [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Notional amount | ₩ 2,066,673 | $ 1,785 |
Financial Risk Management - Int
Financial Risk Management - Interest Rate Profile of Interest-bearing Financial Instruments (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial instruments by type of interest rate [Line Items] | ||
Financial liabilities | ₩ (20,617,444) | |
Fixed rate instruments [member] | ||
Disclosure of financial instruments by type of interest rate [Line Items] | ||
Financial assets | 3,414,838 | ₩ 2,443,583 |
Financial liabilities | (6,066,554) | (5,033,515) |
Financial assets and liabilities | (2,651,716) | (2,589,932) |
Variable rate instruments [member] | ||
Disclosure of financial instruments by type of interest rate [Line Items] | ||
Financial liabilities | ₩ (7,414,336) | ₩ (3,525,262) |
Financial Risk Management - Equ
Financial Risk Management - Equity and Profit or Loss Sensitivity Analysis for Variable Rate Instruments (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
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 | ₩ (38,774) | ₩ (25,558) |
Percentage change in interest rate | 1.00% | 1.00% |
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 | ₩ (38,774) | ₩ (25,558) |
Percentage change in interest rate | 1.00% | 1.00% |
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 | ₩ 38,774 | ₩ 25,558 |
Percentage change in interest rate | 1.00% | 1.00% |
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 | ₩ 38,774 | ₩ 25,558 |
Percentage change in interest rate | 1.00% | 1.00% |
Financial Risk Management - Max
Financial Risk Management - Maximum Exposure to Credit Risk of Financial Assets (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||||
Cash and cash equivalents | ₩ 3,336,003 | ₩ 2,365,022 | ₩ 2,602,560 | ₩ 1,558,696 |
Deposits in banks | 78,768 | 78,411 | ||
Trade accounts and notes receivable | 3,154,080 | 2,829,163 | ||
Non-trade receivable | 463,614 | 159,238 | ||
Accrued income | 10,434 | 10,075 | ||
Deposits | 31,036 | 91,123 | ||
Short-term loans | 21,623 | 16,116 | ||
Long-term loans | 40,827 | 55,048 | ||
Long-term non-trade receivable | 9,072 | 11,448 | ||
Lease receivables | 27,794 | |||
Credit risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||||
Cash and cash equivalents | 3,336,003 | 2,365,022 | ||
Deposits in banks | 78,768 | 78,411 | ||
Trade accounts and notes receivable | 3,154,080 | 2,829,163 | ||
Non-trade receivable | 463,614 | 159,238 | ||
Accrued income | 10,434 | 10,075 | ||
Deposits | 31,036 | 91,123 | ||
Short-term loans | 21,623 | 16,116 | ||
Long-term loans | 40,827 | 55,048 | ||
Long-term non-trade receivable | 9,072 | 11,448 | ||
Lease receivables | 27,794 | |||
Financial assets carried at amortized cost | 7,173,251 | 5,615,644 | ||
Financial assets at fair value through profit or loss | 51,220 | 14,386 | ||
Financial assets at fair value through other comprehensive income | 7,224,547 | 5,630,191 | ||
Convertible bonds [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||||
Financial assets at fair value through profit or loss | 1,544 | 1,327 | ||
Convertible bonds [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 | 1,544 | 1,327 | ||
Derivatives [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||||
Financial assets at fair value through profit or loss | 49,676 | 13,059 | ||
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 | 49,676 | 13,059 | ||
Debt instrument [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||||
Financial assets at fair value through other comprehensive income | 76 | 161 | ||
Debt instrument [member] | Credit risk [member] | ||||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||||
Financial assets at fair value through other comprehensive income | ₩ 76 | ₩ 161 |
Financial Risk Management - Con
Financial Risk Management - Contractual Maturities of Financial Liabilities, Including Estimated Interest Payments (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Disclosure of maturity analysis for financial liabilities [Line Items] | |||
Borrowings | ₩ 10,329,671 | ₩ 6,226,520 | |
Bonds | 3,151,218 | ||
Trade accounts and notes payable | 2,618,261 | 3,087,461 | |
Other accounts payable | 4,397,121 | 3,566,629 | |
Other accounts payable (enterprise procurement cards) | 2,328,016 | ||
Long-term other accounts payable | 1,069 | 3,103 | |
Security deposits | 11,000 | ||
Lease liabilities | 88,512 | ₩ 115,119 | ₩ 115,119 |
Derivatives | 20,592 | ||
Financial liabilities | 20,617,444 | ||
Bonds | 3,306,729 | ||
Trade and other payables | 2,353,355 | ||
Lease liabilities | 97,562 | ||
Derivatives | (13,101) | ||
Contractual cash flows for financial liabilities | 21,958,548 | ||
6 months or less [member] | |||
Disclosure of maturity analysis for financial liabilities [Line Items] | |||
Bonds | 297,649 | ||
Lease liabilities | 26,702 | ||
Contractual cash flows for financial liabilities | 7,476,595 | ||
Payable For Utility Expenses | 1,287,023 | ||
6-12 months [member] | |||
Disclosure of maturity analysis for financial liabilities [Line Items] | |||
Bonds | 184,878 | ||
Lease liabilities | 14,543 | ||
Contractual cash flows for financial liabilities | 1,995,512 | ||
Payable For Utility Expenses | 1,066,332 | ||
1-2 years [member] | |||
Disclosure of maturity analysis for financial liabilities [Line Items] | |||
Bonds | 908,281 | ||
Lease liabilities | 22,931 | ||
Derivatives | (4,870) | ||
Contractual cash flows for financial liabilities | 3,102,545 | ||
2-5 years [member] | |||
Disclosure of maturity analysis for financial liabilities [Line Items] | |||
Bonds | 1,780,014 | ||
Lease liabilities | 23,096 | ||
Derivatives | (8,231) | ||
Contractual cash flows for financial liabilities | 8,266,755 | ||
More than 5 years [member] | |||
Disclosure of maturity analysis for financial liabilities [Line Items] | |||
Bonds | 135,907 | ||
Lease liabilities | 10,290 | ||
Contractual cash flows for financial liabilities | 1,117,141 | ||
Unsecured bank borrowings [member] | |||
Disclosure of maturity analysis for financial liabilities [Line Items] | |||
Bank borrowings | 11,514,568 | ||
Unsecured bank borrowings [member] | 6 months or less [member] | |||
Disclosure of maturity analysis for financial liabilities [Line Items] | |||
Bank borrowings | 1,174,941 | ||
Unsecured bank borrowings [member] | 6-12 months [member] | |||
Disclosure of maturity analysis for financial liabilities [Line Items] | |||
Bank borrowings | 723,363 | ||
Unsecured bank borrowings [member] | 1-2 years [member] | |||
Disclosure of maturity analysis for financial liabilities [Line Items] | |||
Bank borrowings | 2,173,444 | ||
Unsecured bank borrowings [member] | 2-5 years [member] | |||
Disclosure of maturity analysis for financial liabilities [Line Items] | |||
Bank borrowings | 6,471,876 | ||
Unsecured bank borrowings [member] | More than 5 years [member] | |||
Disclosure of maturity analysis for financial liabilities [Line Items] | |||
Bank borrowings | 970,944 | ||
Trade accounts and notes payable [member] | |||
Disclosure of maturity analysis for financial liabilities [Line Items] | |||
Trade and other payables | 2,618,261 | ||
Trade accounts and notes payable [member] | 6 months or less [member] | |||
Disclosure of maturity analysis for financial liabilities [Line Items] | |||
Trade and other payables | 2,618,261 | ||
Other accounts payable [member] | |||
Disclosure of maturity analysis for financial liabilities [Line Items] | |||
Other accounts payable | 2,069,105 | ||
Trade and other payables | 2,069,105 | ||
Other accounts payable [member] | 6 months or less [member] | |||
Disclosure of maturity analysis for financial liabilities [Line Items] | |||
Trade and other payables | 2,068,039 | ||
Other accounts payable [member] | 6-12 months [member] | |||
Disclosure of maturity analysis for financial liabilities [Line Items] | |||
Trade and other payables | 1,066 | ||
Long-term other accounts payable [member] | |||
Disclosure of maturity analysis for financial liabilities [Line Items] | |||
Trade and other payables | 1,069 | ||
Long-term other accounts payable [member] | 1-2 years [member] | |||
Disclosure of maturity analysis for financial liabilities [Line Items] | |||
Trade and other payables | 1,069 | ||
Security Deposits [member] | |||
Disclosure of maturity analysis for financial liabilities [Line Items] | |||
Trade and other payables | 11,000 | ||
Security Deposits [member] | 6 months or less [member] | |||
Disclosure of maturity analysis for financial liabilities [Line Items] | |||
Trade and other payables | 3,980 | ||
Security Deposits [member] | 6-12 months [member] | |||
Disclosure of maturity analysis for financial liabilities [Line Items] | |||
Trade and other payables | 5,330 | ||
Security Deposits [member] | 1-2 years [member] | |||
Disclosure of maturity analysis for financial liabilities [Line Items] | |||
Trade and other payables | ₩ 1,690 |
Financial Risk Management - S_2
Financial Risk Management - Summary of Capital Management (Detail) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of objectives, policies and processes for managing capital [abstract] | ||||
Total liabilities | ₩ 23,086,282 | ₩ 18,289,464 | ||
Total equity | 12,488,281 | 14,886,246 | ₩ 14,981,510 | ₩ 13,462,388 |
Cash and deposits in banks | 3,414,760 | 2,443,422 | ||
Borrowings (including bonds) | ₩ 13,480,889 | ₩ 8,558,777 | ||
Total liabilities to equity ratio | 185.00% | 123.00% | ||
Net borrowings to equity ratio | 81.00% | 41.00% |
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, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of detailed information about financial instruments [Line Items] | |||||
Cash and cash equivalents | ₩ 3,336,003 | ₩ 2,365,022 | ₩ 2,602,560 | ₩ 1,558,696 | |
Deposits in banks | 78,768 | 78,411 | |||
Trade accounts and notes receivable | 3,154,080 | 2,829,163 | |||
Non-trade receivable | 463,614 | 159,238 | |||
Accrued income | 10,434 | 10,075 | |||
Deposits | 31,036 | 91,123 | |||
Short-term loans | 21,623 | 16,116 | |||
Long-term loans | 40,827 | 55,048 | |||
Long-term non-trade receivable | 9,072 | 11,448 | |||
Derivatives | 20,592 | 25,758 | |||
Borrowings | 10,329,671 | 6,226,520 | |||
Bonds | 2,292,833 | 2,332,257 | |||
Trade accounts and notes payable | 2,618,261 | 3,087,461 | |||
Other accounts payable | 4,397,121 | 3,566,629 | |||
Long-term other accounts payable | 1,069 | 3,103 | |||
Security deposits | 11,000 | 10,955 | |||
Lease liabilities | 88,512 | ₩ 115,119 | 115,119 | ||
Finance lease receivables | 27,794 | ||||
Unsecured Convertible Bonds Fair Value Disclosure | 858,385 | ||||
Fair values [member] | |||||
Disclosure of detailed information about financial instruments [Line Items] | |||||
Derivatives | 20,592 | 25,758 | |||
Borrowings | 10,394,498 | 6,281,996 | |||
Bonds | 2,345,867 | 2,384,987 | |||
Unsecured Convertible Bonds Fair Value Disclosure | 858,385 | ||||
Equity instrument [member] | |||||
Disclosure of detailed information about financial instruments [Line Items] | |||||
Financial assets at fair value through profit or loss | 9,879 | 13,681 | |||
Equity instrument [member] | Fair values [member] | |||||
Disclosure of detailed information about financial instruments [Line Items] | |||||
Financial assets at fair value through profit or loss | 9,879 | 13,681 | |||
Convertible bonds [member] | |||||
Disclosure of detailed information about financial instruments [Line Items] | |||||
Financial assets at fair value through profit or loss | 1,544 | 1,327 | |||
Convertible bonds [member] | Fair values [member] | |||||
Disclosure of detailed information about financial instruments [Line Items] | |||||
Financial assets at fair value through profit or loss | 1,544 | 1,327 | |||
Derivatives [member] | |||||
Disclosure of detailed information about financial instruments [Line Items] | |||||
Financial assets at fair value through profit or loss | 49,676 | 13,059 | |||
Derivatives [member] | Fair values [member] | |||||
Disclosure of detailed information about financial instruments [Line Items] | |||||
Financial assets at fair value through profit or loss | 49,676 | 13,059 | |||
Debt instrument [member] | |||||
Disclosure of detailed information about financial instruments [Line Items] | |||||
Financial assets at fair value through other comprehensive income | 76 | 161 | |||
Debt instrument [member] | Fair values [member] | |||||
Disclosure of detailed information about financial instruments [Line Items] | |||||
Financial assets at fair value through other comprehensive income | ₩ 76 | ₩ 161 |
Financial Risk Management - F_2
Financial Risk Management - Fair Value Hierarchy Classifications of Financial Instruments Measured at Fair Value (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about financial instruments [Line Items] | ||
Derivatives, liabilities | ₩ 20,592 | ₩ 25,758 |
Fair values [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Equity instruments | 9,879 | 13,681 |
Convertible bonds | 1,544 | 1,327 |
Derivatives | 49,676 | 13,059 |
Debt instruments | 76 | 161 |
Derivatives, liabilities | 20,592 | 25,758 |
Convertible bonds | 858,385 | |
Fair values [member] | Level 1 [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Debt instruments | 76 | 161 |
Convertible bonds | 858,385 | |
Fair values [member] | Level 3 [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Equity instruments | 9,879 | 13,681 |
Convertible bonds | 1,544 | 1,327 |
Derivatives | 49,676 | 13,059 |
Derivatives, liabilities | ₩ 20,592 | ₩ 25,758 |
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, 2019 | Dec. 31, 2018 | |
Disclosure of fair value measurement of liabilities [Line Items] | ||
Borrowings | ₩ 10,329,671 | ₩ 6,226,520 |
Bonds | ₩ 3,151,218 | |
Borrowings, bonds and others [member] | Bottom of range [member] | ||
Disclosure of fair value measurement of liabilities [Line Items] | ||
Borrowings, bonds and others | 1.87% | 2.09% |
Borrowings, bonds and others [member] | Top of range [member] | ||
Disclosure of fair value measurement of liabilities [Line Items] | ||
Borrowings, bonds and others | 3.56% | 3.37% |
Not measured at fair value but for which the fair value is disclosed [member] | Borrowings [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] | 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] | ||
Borrowings | ₩ 10,394,498 | ₩ 6,281,996 |
Bonds | ₩ 2,345,867 | ₩ 2,384,987 |
Leases - Disclosure Of Quantita
Leases - Disclosure Of Quantitative Information About Right of use Assets Explanatory (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of quantitative information about right-of-use assets [line items] | ||
Balance | ₩ 21,600,130 | ₩ 16,201,960 |
Additions other than through business combinations, property, plant and equipment | 5,908,102 | 8,605,551 |
Depreciation | (3,268,779) | (3,123,659) |
Impairment loss | (1,550,430) | (43,601) |
Increase (decrease) through net exchange differences, property, plant and equipment | 131,862 | 40,010 |
Balance | 22,087,645 | 21,600,130 |
Land [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Balance | 461,828 | 460,511 |
Balance | 454,035 | 461,828 |
Other property, plant and equipment [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Balance | 264,237 | 56,722 |
Depreciation | (239,762) | (169,739) |
Impairment loss | (28,509) | |
Increase (decrease) through net exchange differences, property, plant and equipment | 1,643 | 312 |
Balance | 260,579 | 264,237 |
Right-of-use assets [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Balance | 142,040 | |
Additions other than through business combinations, property, plant and equipment | 29,733 | |
Depreciation | (51,063) | |
Retirements, property, plant and equipment | (3,594) | |
Impairment loss | (4,302) | |
Increase (decrease) through net exchange differences, property, plant and equipment | 436 | |
Balance | 113,250 | 142,040 |
Right-of-use assets [member] | Buildings And Structures [Member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Balance | 75,777 | |
Additions other than through business combinations, property, plant and equipment | 19,743 | |
Depreciation | (39,376) | |
Retirements, property, plant and equipment | (3,056) | |
Impairment loss | (248) | |
Increase (decrease) through net exchange differences, property, plant and equipment | 373 | |
Balance | 53,213 | 75,777 |
Right-of-use assets [member] | Land [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Balance | 53,960 | |
Additions other than through business combinations, property, plant and equipment | 1,890 | |
Depreciation | (2,272) | |
Impairment loss | (3,833) | |
Increase (decrease) through net exchange differences, property, plant and equipment | 9 | |
Balance | 49,754 | 53,960 |
Right-of-use assets [member] | Machinery [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Balance | 1,111 | |
Additions other than through business combinations, property, plant and equipment | 2,882 | |
Depreciation | (1,305) | |
Retirements, property, plant and equipment | (538) | |
Impairment loss | (20) | |
Increase (decrease) through net exchange differences, property, plant and equipment | 17 | |
Balance | 2,147 | 1,111 |
Right-of-use assets [member] | Vehicles [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Balance | 10,800 | |
Additions other than through business combinations, property, plant and equipment | 4,971 | |
Depreciation | (7,760) | |
Impairment loss | (193) | |
Increase (decrease) through net exchange differences, property, plant and equipment | 30 | |
Balance | 7,848 | 10,800 |
Right-of-use assets [member] | Other property, plant and equipment [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Balance | 392 | |
Additions other than through business combinations, property, plant and equipment | 247 | |
Depreciation | (350) | |
Impairment loss | (8) | |
Increase (decrease) through net exchange differences, property, plant and equipment | 7 | |
Balance | ₩ 288 | ₩ 392 |
Leases - Disclosure of lease re
Leases - Disclosure of lease related income and expenses (Details) - KRW (₩) ₩ in Millions | Jan. 01, 2019 | Dec. 31, 2019 |
Presentation of leases for lessee [abstract] | ||
Interest on lease liabilities | ₩ (4,085) | |
Income from sub-leasing right-of-use assets presented in ‘other revenue' | 1,079 | |
Expenses relating to short-term leases | ₩ (233) | (1,783) |
Expenses relating to leases of low-value assets, excluding short-term leases of low-value assets | ₩ (262) | ₩ (1,188) |
Leases - Schedule of lease liab
Leases - Schedule of lease liabilities (Details) ₩ in Millions | 12 Months Ended |
Dec. 31, 2019KRW (₩) | |
Lease liabilities [abstract] | |
Balance | ₩ 115,119 |
Additions | 33,878 |
Interest expense | 4,085 |
Repayment of liabilities | (64,570) |
Balance | ₩ 88,512 |
Leases - Schedule of maturity A
Leases - Schedule of maturity Analysis of leases receivable (Details) ₩ in Millions | Dec. 31, 2019KRW (₩) |
Disclosure of maturity analysis of finance lease payments receivable [line items] | |
Undiscounted finance lease payments to be received | ₩ 30,083 |
Unearned finance income relating to finance lease payments receivable | (2,289) |
Net investment in finance lease | 27,794 |
6 months or less [member] | |
Disclosure of maturity analysis of finance lease payments receivable [line items] | |
Undiscounted finance lease payments to be received | 3,282 |
6-12 months [member] | |
Disclosure of maturity analysis of finance lease payments receivable [line items] | |
Undiscounted finance lease payments to be received | 3,282 |
1-2 years [member] | |
Disclosure of maturity analysis of finance lease payments receivable [line items] | |
Undiscounted finance lease payments to be received | 6,563 |
2-5 years [member] | |
Disclosure of maturity analysis of finance lease payments receivable [line items] | |
Undiscounted finance lease payments to be received | ₩ 16,956 |
Leases - Additional Information
Leases - Additional Information (Details) ₩ in Millions | 12 Months Ended |
Dec. 31, 2019KRW (₩) | |
Leases [Abstract] | |
Gain Loss On Derecognition of Right Of Use Assets | ₩ 3,390 |
Income from sub-leasing right-of-use assets | ₩ 1,079 |
Changes in Liabilities Arisin_3
Changes in Liabilities Arising from Financing Activities - Summary of Changes in Liabilities Arising from Financing Activities (Detail) ₩ in Millions | 12 Months Ended |
Dec. 31, 2019KRW (₩) | |
Disclosure of reconciliation of liabilities arising from financing activities [Line Items] | |
Beginning balance | ₩ 8,673,896 |
Cash flows from financing activities | 4,718,047 |
Gain or loss on foreign currency translation | 65,283 |
Effective interest adjustment | 15,237 |
Others | 96,939 |
Ending balance | 13,569,402 |
Short-term borrowings [member] | |
Disclosure of reconciliation of liabilities arising from financing activities [Line Items] | |
Cash flows from financing activities | 686,097 |
Gain or loss on foreign currency translation | 10,696 |
Ending balance | 696,793 |
Current portion of long-term borrowings and bonds [member] | |
Disclosure of reconciliation of liabilities arising from financing activities [Line Items] | |
Beginning balance | 1,553,907 |
Cash flows from financing activities | (1,567,818) |
Reclassification | 1,237,344 |
Gain or loss on foreign currency translation | 18,887 |
Effective interest adjustment | 584 |
Ending balance | 1,242,904 |
Long-term borrowings [member] | |
Disclosure of reconciliation of liabilities arising from financing activities [Line Items] | |
Beginning balance | 5,232,271 |
Cash flows from financing activities | 4,341,087 |
Reclassification | (827,883) |
Gain or loss on foreign currency translation | 54,202 |
Ending balance | 8,799,677 |
Bonds [member] | |
Disclosure of reconciliation of liabilities arising from financing activities [Line Items] | |
Beginning balance | 1,772,599 |
Cash flows from financing activities | 1,323,251 |
Reclassification | (409,461) |
Gain or loss on foreign currency translation | (20,351) |
Effective interest adjustment | 10,568 |
Others | 64,910 |
Ending balance | 2,741,516 |
Lease liabilities [member] | |
Disclosure of reconciliation of liabilities arising from financing activities [Line Items] | |
Beginning balance | 115,119 |
Cash flows from financing activities | (64,570) |
Gain or loss on foreign currency translation | 1,849 |
Effective interest adjustment | 4,085 |
Others | 32,029 |
Ending balance | ₩ 88,512 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of transactions between related parties [Line Items] | |||
Sales and others | ₩ 3,519,841 | ₩ 4,205,596 | ₩ 5,436,726 |
Dividend income | 7,502 | 5,272 | 8,639 |
Purchase of raw material and others | 424,816 | 555,463 | 637,355 |
Acquisition of property, plant and equipment | 1,100,734 | 1,694,360 | 1,424,647 |
Outsourcing fees | 73,323 | 71,403 | 90,789 |
Other costs | 299,759 | 265,568 | 188,824 |
Trade accounts and notes receivable and others | 597,120 | 564,887 | |
Trade accounts and notes payable and others | 291,357 | 682,311 | |
Associates [Member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Sales and others | 2,639 | 1,112 | 15,813 |
Dividend income | 7,502 | 5,272 | 8,639 |
Purchase of raw material and others | 357,246 | 371,130 | 389,303 |
Acquisition of property, plant and equipment | 147,896 | 201,303 | 157,518 |
Outsourcing fees | 73,323 | 71,403 | 90,789 |
Other costs | 9,577 | 9,747 | 10,124 |
Trade accounts and notes receivable and others | 2,000 | ||
Trade accounts and notes payable and others | 93,267 | 101,279 | |
Associates [Member] | New Optics Ltd. [member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Sales and others | 1 | ||
Outsourcing fees | 4 | ||
Other costs | 6 | ||
Associates [Member] | INVENIA Co., Ltd. (LIG INVENIA Co., Ltd.) [member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Dividend income | 180 | 30 | |
Purchase of raw material and others | 1,024 | 1,608 | 1,862 |
Acquisition of property, plant and equipment | 45,580 | 58,111 | 66,548 |
Other costs | 297 | 896 | 2,259 |
Trade accounts and notes receivable and others | 2,000 | ||
Trade accounts and notes payable and others | 30,179 | ||
Associates [Member] | AVATEC Co., Ltd. [member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Sales and others | 2,639 | ||
Dividend income | 265 | 530 | 530 |
Outsourcing fees | 73,323 | 71,403 | 90,785 |
Other costs | 891 | 905 | 720 |
Trade accounts and notes payable and others | 1,029 | 4,382 | |
Associates [Member] | Paju Electric Glass Co., Ltd. [member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Dividend income | 6,057 | 4,172 | 8,109 |
Purchase of raw material and others | 342,958 | 364,183 | 380,815 |
Other costs | 4,416 | 4,411 | 4,225 |
Trade accounts and notes payable and others | 62,853 | 60,566 | |
Associates [Member] | Shinbo Electric Co., Ltd. [Member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Sales and others | 15,812 | ||
Other costs | 21 | ||
Associates [Member] | Narenanotech corporation [member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Purchase of raw material and others | 279 | ||
Acquisition of property, plant and equipment | 21,727 | ||
Other costs | 244 | ||
Associates [Member] | WooRee E&L Co Ltd [member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Purchase of raw material and others | 6,441 | 58 | |
Other costs | 5 | 144 | 175 |
Trade accounts and notes payable and others | 1,888 | 7 | |
Associates [Member] | YAS Co., Ltd. [member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Dividend income | 1,000 | ||
Purchase of raw material and others | 6,764 | 5,281 | 6,347 |
Acquisition of property, plant and equipment | 102,316 | 143,192 | 69,243 |
Other costs | 3,655 | 3,391 | 2,474 |
Trade accounts and notes payable and others | 27,489 | 6,145 | |
Associates [Member] | Material Science Co., Ltd. [member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Purchase of raw material and others | 59 | ||
Other costs | 313 | ||
Trade accounts and notes payable and others | 8 | ||
Associates [Member] | LB Gemini new growth fund no.16 [member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Sales and others | 1,112 | ||
Dividend income | 540 | ||
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 | 947,409 | 1,215,153 | 1,689,381 |
Purchase of raw material and others | 13,240 | 36,522 | 47,898 |
Acquisition of property, plant and equipment | 815,629 | 1,041,563 | 906,427 |
Other costs | 153,212 | 127,775 | 109,865 |
Trade accounts and notes receivable and others | 209,939 | 247,679 | |
Trade accounts and notes payable and others | 157,713 | 430,677 | |
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Sales and others | 2,569,793 | 2,989,331 | 3,731,532 |
Purchase of raw material and others | 54,330 | 147,811 | 200,154 |
Acquisition of property, plant and equipment | 137,209 | 451,494 | 360,702 |
Other costs | 136,970 | 128,046 | 68,835 |
Trade accounts and notes receivable and others | 387,181 | 315,208 | |
Trade accounts and notes payable and others | 40,377 | 150,355 | |
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 | 87,116 | 71,798 | 71,597 |
Other costs | 194 | 103 | 163 |
Trade accounts and notes receivable and others | 6,113 | 9,047 | |
Trade accounts and notes payable and others | 29 | ||
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 | 277,743 | 173,051 | 205,934 |
Acquisition of property, plant and equipment | 3,019 | 4,541 | 8,892 |
Other costs | 924 | 166 | 198 |
Trade accounts and notes receivable and others | 47,740 | 25,544 | |
Trade accounts and notes payable and others | 75 | ||
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 | 297,033 | 223,524 | 300,785 |
Acquisition of property, plant and equipment | 31 | 424 | 245 |
Other costs | 486 | 1,528 | 379 |
Trade accounts and notes receivable and others | 55,343 | 43,463 | |
Trade accounts and notes payable and others | 49 | 139 | |
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 | 100,894 | 106,631 | 103,479 |
Other costs | 1,972 | 2,673 | 963 |
Trade accounts and notes receivable and others | 17,600 | 22,570 | |
Trade accounts and notes payable and others | 83 | 90 | |
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 | 145,546 | 192,775 | 228,821 |
Other costs | 289 | 350 | 430 |
Trade accounts and notes receivable and others | 14,805 | 15,608 | |
Trade accounts and notes payable and others | 26 | 62 | |
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 | 7,572 | 29,267 | 14,836 |
Purchase of raw material and others | 53,886 | 147,453 | 199,896 |
Other costs | 79,162 | 39,136 | 5,692 |
Trade accounts and notes receivable and others | 267 | 2,885 | |
Trade accounts and notes payable and others | 36,426 | 47,382 | |
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | Qingdao LG Inspur Digital Communication Co., Ltd. [member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Sales and others | 22,563 | 37,738 | 77,787 |
Trade accounts and notes receivable and others | 7,221 | 3,530 | |
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | Inspur LG Digital Mobile Communications Co., Ltd. [member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Sales and others | 41,858 | 131,970 | 230,832 |
Other costs | 1 | ||
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | LG Electronics Mexicalli, S.A. DE C.V [member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Sales and others | 319,772 | ||
Other costs | 186 | ||
Trade accounts and notes receivable and others | 11,195 | 15,305 | |
Trade accounts and notes payable and others | 17 | ||
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 | 618,715 | 740,784 | 847,565 |
Other costs | 1,967 | 631 | 985 |
Trade accounts and notes receivable and others | 124,390 | 70,236 | |
Trade accounts and notes payable and others | 75 | 33 | |
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 | 12,746 | 13,693 | |
Other costs | 330 | 164 | |
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | LG Hitachi Water Solutions Co., Ltd. [member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Sales and others | 9,100 | ||
Acquisition of property, plant and equipment | 79,986 | 304,365 | 318,978 |
Other costs | 8,980 | 1,532 | |
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 | 722,194 | 1,030,414 | 1,287,340 |
Other costs | 1,155 | 2,021 | 1,926 |
Trade accounts and notes receivable and others | 82,927 | 69,189 | |
Trade accounts and notes payable and others | 62 | 134 | |
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | LG Electronics Almaty Kazakhstan [member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Sales and others | 3,759 | 14,079 | |
Other costs | 42 | 53 | |
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | LG Electronics Air-Conditioning (Shandong) Co., Ltd. [member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Purchase of raw material and others | 444 | 330 | 255 |
Acquisition of property, plant and equipment | 14,527 | 26,871 | 3,744 |
Other costs | 88 | 7,264 | 2,621 |
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | Hientech Co., Ltd. [member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Sales and others | 47 | ||
Acquisition of property, plant and equipment | 7,264 | 22,378 | 6,991 |
Other costs | 21,576 | 29,215 | 34,432 |
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | Hientech (Tianjin) Co., Ltd. [member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Acquisition of property, plant and equipment | 32,335 | 92,900 | 21,838 |
Other costs | 15,423 | 23,880 | 11,822 |
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | LG Electronics S.A. Pty Ltd [member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Sales and others | 7,244 | 14,155 | |
Other costs | 20 | 25 | |
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 | 114,520 | 187,844 | |
Other costs | 85 | 210 | |
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 | 97,359 | 25,491 | |
Other costs | 241 | 16 | |
Trade accounts and notes receivable and others | 9,432 | 10,296 | |
Subsidiaries of the entity that has significant influence over the Controlling Company [Member] | LG Electronics Alabama Inc. [member] | |||
Disclosure of transactions between related parties [Line Items] | |||
Sales and others | 12,869 | ||
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] | |||
Acquisition of property, plant and equipment | 14 | ||
Other costs | 6,236 | ||
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 | 11,200 | ||
Other costs | 176 | ||
Trade accounts and notes receivable and others | 7,696 | ||
Trade accounts and notes payable and others | 16 | ||
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 | 12,564 | 5,195 | 857 |
Purchase of raw material and others | 28 | 3 | |
Acquisition of property, plant and equipment | 33 | 15 | 14 |
Other costs | 6,996 | 11,480 | ₩ 7,264 |
Trade accounts and notes receivable and others | 2,452 | 27,535 | |
Trade accounts and notes payable and others | ₩ 3,548 | ₩ 102,486 |
Related Parties and Others - De
Related Parties and Others - Details of Significant Cash Transactions of Loans and Collection of Loans Occurred in Normal Course of Business with Related Parties (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
InveniaCoLtd And YasCoLtd [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Beginning balance | ₩ 2,000 | ₩ 2,750 |
Decrease | (750) | |
Ending balance | 2,000 | |
INVENIA Co., Ltd. (LIG INVENIA Co., Ltd.) [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Beginning balance | 2,000 | 2,375 |
Increase | 1,000 | |
Decrease | ₩ (3,000) | (375) |
Ending balance | 2,000 | |
YAS Co., Ltd. [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Beginning balance | 375 | |
Decrease | ₩ (375) |
Related Parties and Others - Co
Related Parties and Others - Compensation Costs of Key Management (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of transactions between related parties [abstract] | |||
Short-term benefits | ₩ 2,664 | ₩ 2,622 | ₩ 3,724 |
Expenses related to the defined benefit plan | 553 | 794 | 488 |
Key management personnel compensation | ₩ 3,217 | ₩ 3,416 | ₩ 4,212 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of cash flows [abstract] | |||
Changes in other accounts payable arising from the purchase of property, plant and equipment | ₩ (1,333,967) | ₩ 516,734 | ₩ 632,355 |
Recognition of right of use assets and lease liabilities | ₩ 29,733 |
Non-current Assets Held for S_3
Non-current Assets Held for Sale - Schedule of Non-current Assets as Held for Sale (Detail) ₩ in Millions | 12 Months Ended |
Dec. 31, 2019KRW (₩) | |
Non-current Assets Held for Sale [line items] | |
Gain Loss On Disposal Of Assets Held For Sale | ₩ 8,353 |