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LG Display Co., Ltd.

For the period ended Dec 31, 2024. Filed Apr 28, 2025.

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About this filing

The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.

FY2024 · Filed Apr 28, 2025

LPL$2.54+2.0%Stored close · as of Nov 6, 2026
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As filed with the Securities and Exchange Commission on April 28, 2025

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 20-F

(Mark One)

☐REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

For the fiscal year ended December 31,2024

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

☐SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of event requiring this shell company report

For the transition period from to

Commission file number 1-32238

(Exact name of Registrant as specified in its charter)

(Translation of Registrant’s name into English)

The Republic of Korea

(Jurisdiction of incorporation or organization)

LG Twin Towers,128 Yeoui-daero, Yeongdeungpo-gu, Seoul 07336, Republic of Korea

(Address of principal executive offices)

Jinjoo Kim

LG Twin Towers,128 Yeoui-daero, Yeongdeungpo-gu, Seoul 07336, Republic of Korea

Telephone No.: +82-2-3777-0748

Facsimile No.: +82-2-3777-0797

(Name, telephone, e-mail and/or facsimile number and address of company contact person)

Securities registered or to be registered pursuant to Section 12(b) of the Act.

Title of each classTrading SymbolName of each exchange on which registered
American Depositary Shares, each representing one-half of one share of Common StockLPLNew York StockExchange
Common Stock, par valueW5,000 per shareLPLNew York StockExchange*
  • Not for trading, but only in connection with the registration of the American Depositary Shares.

Securities registered or to be registered pursuant to Section 12(g) of the Act.

None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act.

None

Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report.

500,000,000 shares of common stock, par value W 5,000 per share

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

☒ Yes ☐ No

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934.¨ Yesx No

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.☒ Yes ☐ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). x Yes ¨No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☒Accelerated filer☐
Non-accelerated filer☐Emerging growth company☐

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 13(a) of the Exchange Act.☐

† The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☒ Yes☐ No

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to § 240.10D-1(b).☐

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing: U.S. GAAP☐ International Financial Reporting Standards as issued by the International Accounting Standards Board☒ Other ☐

Auditor Name: Samil PricewaterhouseCoopers Auditor Location: Seoul, Korea Auditor Firm ID:1103

If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow.☐ Item 17☐Item 18

If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).☐Yes☒ No

TABLE OF CONTENTS

Page
Presentation of Financial and Other Information4
Forward-Looking Statements5
PART I
Item 1.Identity of Directors, Senior Management and Advisers6
Item 2.Offer Statistics and Expected Timetable6
Item 3.Key Information6
Item 3.A. [RESERVED]6
Item 3.B. Capitalization and Indebtedness6
Item 3.C. Reasons for the Offer and Use of Proceeds6
Item 3.D. Risk Factors6
Item 4.Information on the Company28
Item 4.A. History and Development of the Company28
Item 4.B. Business Overview30
Item 4.C. Organizational Structure42
Item 4.D. Property, Plants and Equipment43
Item 4A.Unresolved Staff Comments44
Item 5.Operating and Financial Review and Prospects44
Item 5.A. Operating Results44
Item 5.B. Liquidity and Capital Resources58
Item 5.C. Research and Development, Patents and Licenses, etc.63
Item 5.D. Trend Information65
Item 5.E. Critical Accounting Estimates65
Item 6.Directors, Senior Management and Employees65
Item 6.A. Directors and Senior Management65
Item 6.B. Compensation68
Item 6.C. Board Practices68
Item 6.D. Employees70
Item 6.E. Share Ownership71
Item 6.F. Disclosure of a Registrant’s Action to Recover Erroneously Awarded Compensation71
Item 7.Major Shareholders and Related Party Transactions71
Item 7.A. Major Shareholders71
Item 7.B. Related Party Transactions71
Item 7.C. Interests of Experts and Counsel73
Item 8.Financial Information73
Item 8.A. Consolidated Statements and Other Financial Information73
Item 8.B. Significant Changes74
Item 9.The Offer and Listing74
Item 9.A. Offer and Listing Details74
Item 9.B. Plan of Distribution74

(i)

Item 9.C. Markets75
Item 9.D. Selling Shareholders75
Item 9.E. Dilution75
Item 9.F. Expenses of the Issue75
Item 10.Additional Information75
Item 10.A. Share Capital75
Item 10.B. Memorandum and Articles of Association75
Item 10.C. Material Contracts80
Item 10.D. Exchange Controls80
Item 10.E. Taxation84
Item 10.F. Dividends and Paying Agents89
Item 10.G. Statements by Experts89
Item 10.H. Documents on Display89
Item 10.I. Subsidiary Information89
Item 11.Quantitative and Qualitative Disclosures about Market Risk90
Item 12.Description of Securities Other than Equity Securities93
PART II
Item 13.Defaults, Dividend Arrearages and Delinquencies94
Item 14.Material Modifications to the Rights of Security Holders and Use of Proceeds94
Item 15.Controls and Procedures94
Item 16.[RESERVED]95
Item 16A.Audit Committee Financial Expert95
Item 16B.Code of Ethics95
Item 16C.Principal Accountant Fees and Services95
Item 16D.Exemptions from the Listing Standards for Audit Committees95
Item 16E.Purchases of Equity Securities by the Issuer and Affiliated Purchasers96
Item 16F.Change in Registrant’s Certifying Accountant96
Item 16G.Corporate Governance96
Item 16H.Mine Safety Disclosure98
Item 16I.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections98
Item 16J.Insider Trading Policies98
Item 16K.Cybersecurity98
PART III
Item 17.Financial Statements100
Item 18.Financial Statements100
Item 19.Exhibits101

(ii)

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.