LG Energy Solution Selected as 'Excellent Corporation for Financial Disclosure 2025' by Financial Supervisory Service

Recognized for Successful Implementation of XBRL,
an International Standard Data-Based Financial Disclosure System

LG Energy Solution announced on November 20 that it was selected as an 'Excellent Corporation for XBRL Financial Disclosure 2025' by the Financial Supervisory Service and received a certificate of appreciation.

LG Energy Solution was selected as an 'Excellent Corporation for Financial Disclosure 2025' by the Financial Supervisory Service and received a certificate of appreciation. From left, Seungwoo Lee, Deputy Director of the Financial Supervisory Service, and Seungkwon Jang, Executive Director and Head of the Finance Group at LG Energy Solution. LG Energy Solution

The 'Excellent Corporation for XBRL Financial Disclosure' award is given by the Financial Supervisory Service to companies that have successfully implemented international standard data-based financial disclosures. The Financial Supervisory Service stated, "The company was recognized for significantly enhancing information accessibility for both domestic and international investors through high-quality financial disclosures based on international standards, thereby contributing to the global competitiveness of Korea's capital market."

XBRL (eXtensible Business Reporting Language) is a computer language that digitizes corporate accounting and financial information into an internationally standardized data structure, enabling automated recognition and analysis by computers. By standardizing the various financial information formats used by different companies, it improves the efficiency of analysis and information accessibility for investors, while also enhancing the transparency and reliability of financial information.

In line with the Financial Supervisory Service's proactive digitalization efforts, LG Energy Solution rapidly transitioned its entire financial statements, including audit report notes, to an XBRL-based system starting at the end of 2023. This move has strengthened the consistency and comparability of disclosure data and has been recognized for advancing the financial data framework required by global investors.

Last year, LG Corporation was also selected as an 'Excellent Corporation for XBRL Financial Disclosure' by the Financial Supervisory Service. LG Corporation was highly praised for proactively managing potential risks by actively reflecting the opinions of internal and external accounting experts, including participating in the pilot operation of XBRL financial disclosure, and for establishing a disclosure system that meets global standards.

Changsil Lee, Executive Vice President and Chief Financial Officer of LG Energy Solution, stated, "We have continuously strived to provide investors with accurate and transparent information through systematic disclosures aligned with global standards," adding, "We will continue to build a more sophisticated disclosure system to further enhance shareholder value and market trust."

This content was produced with the assistance of AI translation services.