Board of Directors

The LG Display Board of Directors has the authority to make decisions and take control over major management matters in accordance with relevant laws and regulations and the Articles of Incorporation. A total of 7 directors, consisting of 2 Executive Directors, 1 Non-Executive Director, and 4 Independent Directors, perform management decision-making and supervision functions. In accordance with relevant laws and regulations, Independent Directors do not serve for more than 6 years. In addition, the Chief Financial Officer (CFO), who is the internal accounting manager, participates in the Board of Directors as an Executive Director, thereby strengthening the effectiveness of the internal accounting management system and the transparency of the corporate governance structure. The Chairman of the Board of Directors is elected by a resolution of the Board of Directors in accordance with the Articles of Incorporation and the Board of Directors Regulations, and the CEO also serves as the Chairman of the Board of Directors in order to respond to the changing business environment and enhance business expertise.

LG Display's directors are appointed by a resolution of shareholders at a shareholders' meeting in accordance with relevant laws and regulations, such as the Commercial Act, and the company's bylaws and other regulations. Executive Directors and other non-executive directors are appointed at a shareholders' meeting following a resolution by the Board of Directors, while Independent Directors are appointed at a shareholders' meeting following a recommendation by the Independent Director Nomination Committee and a resolution by the Board of Directors. During this process, the Board of Directors and the Independent Director Nomination Committee rigorously review each candidate's independence, expertise, suitability for the position, and whether they serve as a director at two or more other companies.

The Board of Directors supervises resolutions on major matters and the execution of duties by directors and management in accordance with relevant laws and regulations and internal company rules. To enhance the transparency of the Board of Directors, the rules of the Board of Directors and committees are disclosed. The company's management, including the CEO, reports on major management issues such as business performance, outlook, and tasks to be promoted to the Board of Directors at least once every quarter, and the Board of Directors meets as needed when major issues requiring a resolution by the Board arise.
The Articles of Incorporation, Board of Directors Regulations, and Committee Regulations stipulate that the agenda, date, and location of Board of Directors meetings must be notified to directors and committee members at least 12 hours in advance. However, LG Display notifies directors and committee members 3 to 7 days in advance so that they have sufficient time to consider the agenda items.
LG Display recommends that all directors and committee members attend Board of Directors and Committee meetings. In 2024, the attendance rate for the Board of Directors was 91% for Executive Directors and other non-executive directors, and 96% for Independent Directors. Meanwhile, we have taken out directors' liability insurance to ensure the smooth performance of duties and responsible management by our directors.

Doocheol Moon Director is a professor of accounting at Yonsei University's Department of Business Administration. He has served as the president of the Korea Small and Medium Business Association, vice president of the Korea Government Accounting Association, and member of the Cooperation Benefit Sharing System Review Committee of the Large and Small Business Cooperation Foundation. As a financial and accounting expert, he is also an authority in ESG areas such as capital markets, corporate governance, and corporate social responsibility. He contributes to the company's development by leveraging his expertise in overall management and finance and accounting.
Sangwoo Lee Director, a non-executive director, has contributed to the company's development through his broad understanding, experience, and expertise in corporate management, having served for a long time as an organizational leader in management, business strategy, content, and new business at LG Corporation and LG Electronics.
Chunghae Kang Director has served as Vice President of the Korean Environmental Law Association, member of the Ministry of Environment's Environmental Pollution Damage Compensation Policy Committee, and attorney at law firm Gwangjang. Currently a professor at Seoul City University's Law School, she is a legal expert with both specialized knowledge and practical experience in environmental-related fields, contributing to the company's compliance management.
Jungsuk Oh Director has eight years of experience as a display drive engineering researcher at Sambo Computer, an IT company, and is currently a professor at Seoul National University's College of Business Administration, a director of the Content Management Association, and an auditor of the Korean Big Data Association. He provides appropriate advice in the field of management consulting and contributes to the company's business development based on his knowledge and experience in his field of expertise.
Sanghee Park Director is a display industry technology expert who served as a researcher at the Korea Electronics and Telecommunications Research Institute and president of the Korean Information Display Society, and is currently a professor at the Department of Materials Science and Engineering at KAIST. He contributes to business development based on his practical experience and knowledge in the display industry and academia.

LG Display strengthens the expertise and management responsibilities of independent directors by holding annual workshops on major business statuses, investment directions, industrial technology and product manufacturing processes, changes in directors’ roles due to legal amendments, and investor feedback. In addition, LG Display supports independent directors by enabling them to visit domestic and overseas business sites, thereby enhancing their understanding of the display industry, technology, processes, and business operations. Furthermore, in accordance with Article 12 of the Board Regulations, the LG Display Board of Directors may, if necessary, receive support from external experts through a resolution of the Board.

LG Display ensures that the majority (57%) of its board members are independent directors who meet the requirements, thereby facilitating the smooth supervision of management's execution of duties. In addition, the Independent Director Nomination Committee, established in accordance with relevant laws and regulations to conduct comprehensive reviews of independent director candidates, taking into consideration their independence, expertise, and diversity, and recommends suitable candidates. The ESG Committee introduced the “Guidelines for the Independence of Independent Directors” in April 2023 and verifies the independence of independent directors by considering various factors, including those specified in the guidelines. The main contents of the guidelines and other considerations are managed as “Factors to Consider for the Independence of Independent Directors.” For independent directors to perform their duties effectively, they are restricted from concurrently serving as directors, executive officers, or auditors of LG Display's competitors or two or more companies other than LG Display.

• Whether Independent Director has served as an officer or employee of the Company during the past 5 years
• Whether Independent Director's immediate family members have served as officers of the Company, its parent company, or its subsidiaries during the past 3 years
• Whether Independent Director has family members who have received payments exceeding $60,000 from the company, its parent company, or its subsidiaries during the current fiscal year or the past three fiscal years, except as permitted by Securities and Exchange Commission (SEC) Regulation 4200.
• Whether Independent Director is employed by the Company's external audit firm
• Whether Independent Director is an officer or employee of a corporation that has entered into a major advisory or technology partnership agreement with the Company
• Whether Independent Director is an advisor or consultant to the Company or its management
• Whether Independent Director is an employee of a corporation whose total transaction amount with the company during the last 3 fiscal years is 10% or more of the company's total assets or total sales
• Whether Independent Director is affiliated with an important customer or supplier of the company
• Whether Independent Director is affiliated with a non-profit organization that receives significant contributions from the company
• Whether there is a significant interest in matters decided by the Board of Directors

LG Display evaluates management performance based on financial indicators (such as sales and operating profit) and other indicators (such as long-term and business tasks). Management compensation is determined by the board of directors based on position and duties within the amount approved by the shareholders' meeting, and performance-based compensation is paid based on performance evaluation results and performance-based compensation funds after approval by the board of directors. However, in order to maintain fairness and independence, Independent Directors are not paid separate performance-based compensation in addition to their basic compensation, nor are their performance evaluations linked to their compensation. All Independent Directors are paid the same amount within the limits of the director compensation approved by the shareholders' meeting, and there is no differentiation in the compensation of Independent Directors. LG Display discloses the compensation of all directors, including the CEO, in its business report.
Management performance is evaluated using quantitative and qualitative indicators. Quantitative indicators, such as the company's sales and operating profit from the previous year, and qualitative indicators, such as the fulfillment of the company's mid- to long-term expectations, leadership, and contribution to the company, are evaluated, and bonuses are paid at a level of 0 to 150% of the total compensation. The criteria and methods for determining executive compensation are transparently disclosed, and compensation is executed in accordance with board standards within the budget approved by the shareholders' meeting, taking into account factors such as position and duties.