[Concall] LGD "The Reason for the Capital Increase Decision is to Strengthen OLED Business Competitiveness"

On the 24th, LG Display announced during its annual and fourth-quarter earnings conference call that it has decided to conduct a paid-in capital increase "to strengthen the competitiveness of its organic light-emitting diode (OLED) business, further solidify the foundation for sustainable future growth, and enhance financial stability." The company stated, "The current number of issued shares is 357,815,700, and the number of new shares to be issued is 142,184,300." It also added, "The total number of issued shares corresponds to the maximum of 500 million shares allowed under our articles of incorporation," and "the capital increase ratio corresponding to the new issuance is 39.74%."

Kim Seong-hyun, Vice President and Chief Financial Officer (CFO) of LG Display, said, "It is clear that the paid-in capital increase was an action to restore market confidence," and added, "As in the past, we are currently not facing any difficulties in raising necessary funds in the financial market." Vice President Kim also stated, "Through activities to advance our business structure and reduce costs, we aim to establish a healthy system within this year," and "Our goal for this year is not to increase borrowings."

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