UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K/A
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of April 2025
LG Display Co., Ltd.
(Translation of Registrant’s name into English)
LG Twin Towers, 128 Yeoui-dearo, Youngdungpo-gu,Seoul 07336, The Republic of Korea
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submission to furnish a report or other document that the registration foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ☐ No ☒
EXPLANATORY NOTE
This Report of Foreign Private Issuer on Form 6-K/A amends the Report of Foreign Private Issuer on Form 6-K furnished by LG Display Co., Ltd. (the “Company”) to the Securities and Exchange Commission on September 26, 2024 (the “Original Report”), regarding the sale of the Company’s equity interest in its TFT-LCD TV display panel manufacturing facilities located in Guangzhou, China.
On April 11, 2025, the Company filed with the Korea Exchange an Amended Report of “Decision on Transfer of Shares or Investment Certificates of Other Corporations" (the “Amended Report”), reflecting the following amendments to the Original Report following the determination of the final sale price:
|
|
|
Item |
Prior to amendment |
As amended |
1. Subject of Sale |
a. 51% equity interest in LG Display (China) Co., Ltd. (“LGD CA”) held by LG Display Headquarters
b. 8.5% equity interest in LGD CA held by LG Display Guangzhou Trading Co., Ltd. (“LGD GT”)
c. 100% equity interest in LG Display Guangzhou Co., Ltd. (“LGD GZ”) held by LG Display Headquarters
|
a. 51% equity interest in LG Display (China) Co., Ltd. (“LGD CA”) held by LG Display Headquarters
b. 8.5% equity interest in LGD CA held by LG Display Guangzhou Trading Co., Ltd. (“LGD GT”)
c. 100% equity interest in LG Display Guangzhou Co., Ltd. (“LGD GZ”) held by LG Display Headquarters
|
2. Total Amount of Sale |
KRW 2,025,648,000,000(sum of a + b + c)
|
KRW 2,246,583,105,475(sum of a + b + c)
|
Information relating to LG Display (China) Co., Ltd.
|
|
|
2. Details of the Sale of Equity Interest |
ii. Sale Price: KRW 1,184,937,612,862
iv. Ratio of Sale Price to Total Equity: 13.5%
|
b. Sale Price: KRW 1,334,172,996,013
d. Ratio of Sale Price to Total Equity: 15.2%
|
7. Other Considerations for Investment Decision |
b) The final amount of the sale price may be subject to change during the purchaser’s settlement process, foreign exchange approval and registration procedures.
e) The sale price set forth above in item 2.a. has been translated from CNY to KRW at the initial exchange rate in effect on August 30, 2024 (CNY 1 to KRW 187.56).
|
* The Total Amount of Sale in this report refers to the closing sale price, which has been agreed upon by both companies.
d) The sale price and ratio of sale price to total equity set forth have been translated from CNY to KRW at the initial exchange rate in effect on April 10, 2025 (CNY 1 to KRW 200.82). |
|
f) The expected date of the completion of sale in item 5 may be subject to change depending on the completion of various conditions precedent, including the approval of export of national core technologies by the Ministry of Trade, Industry and Energy of Korea and government approvals for business combinations in relevant jurisdictions.
|
** The expected date of the completion of sale in item 5 refers to the business closure date, which has been agreed upon by both companies, and as of April 1, 2025, the financial statements of this entity were separated from those of the Company. |
Information relating to LG Display Guangzhou Co., Ltd.
|
|
|
2. Details of the Sale of Equity Interest |
b. Sale Price: KRW 643,220,784,994
d. Ratio of Sale Price to Total Equity: 7.3%
|
b. Sale Price: KRW 690,047,943,427
d. Ratio of Sale Price to Total Equity: 7.9%
|
7. Other Considerations for Investment Decision |
a) This transaction involves the sale of LG Display Headquarters’ 100% equity interest in LGD GZ to TCL CSOT. As LGD GZ currently holds a 20.5% equity interest in LGD CA, the sale will also involve the transfer of the 20.5% equity interest in LGD CA to TCL CSOT. The sale price of KRW 643,220,784,994 indicated under item 2.b. above includes the value of the 20.5% equity interest in LGD CA.
b) The final amount of the sale price may be subject to change during the purchaser’s settlement process, foreign exchange approval and registration procedures.
e) The sale price set forth above in item 2.a. has been translated from CNY to KRW at the initial exchange rate in effect on August 30, 2024 (CNY 1 to KRW 187.56).
f) The expected date of the completion of sale in item 5 may be subject to change depending on the completion of various conditions precedent, including the approval of export of national core technologies by the Ministry of Trade, Industry and Energy of Korea and government approvals for business combinations in relevant jurisdictions.
|
a) This transaction involves the sale of LG Display Headquarters’ 100% equity interest in LGD GZ to TCL CSOT. As LGD GZ currently holds a 20.5% equity interest in LGD CA, the sale will also involve the transfer of the 20.5% equity interest in LGD CA to TCL CSOT. The sale price of KRW 690,047,943,427 indicated under item 2.b. above includes the value of the 20.5% equity interest in LGD CA.
* The Total Amount of Sale in this report refers to the closing sale price, which has been agreed upon by both companies. (The purchase price may be further adjusted during post-closing review period.)
d) The sale price and ratio of sale price to total equity set forth have been translated from CNY to KRW at the initial exchange rate in effect on April 10, 2025 (CNY 1 to KRW 200.82).
** The expected date of the completion of sale in item 5 refers to the business closure date, which has been agreed upon by both companies, and as of April 1, 2025, the financial statements of this entity were separated from those of the Company. |
An English language summary of the Amended Report, reflecting the above amendments, is attached below.
Decision on Transfer of Shares or Investment Certificates of Other Corporations
This Report of Foreign Private Issuer on Form 6-K is furnished to update the information contained in the Report of Foreign Private Issuer on Form 6-K furnished by LG Display Co., Ltd. (the “Company”) to the Securities and Exchange Commission on August 1, 2024 under the title “Report of Material Business Matters Related to Investment Decisions,” regarding the Company’s selection of a Chinese display panel manufacturer to exclusively negotiate the sale of the Company’s equity interest in its TFT-LCD TV display panel manufacturing facilities located in Guangzhou, China. The key details of the report are as follows
(amount: Korean Won (“KRW”) 1,334,172,996,013)
(amount: KRW 222,362,166,036)
(amount: KRW 690,047,943,427)
Additional details of the sale of the Company’s equity interests in LGD GZ and LGD CA are as follows:
LG Display (China) Co., Ltd.
a) Number of Shares for Sale: not applicable
b) Sale Price: KRW 1,334,172,996,013
c) Total Equity of the Company: KRW 8,770,543,767,427
d) Ratio of Sale Price to Total Equity: 15.2%
i. Number of directors present: three
ii. Number of directors absent: one
* The Total Amount of Sale in this report refers to the closing sale price,
which has been agreed upon by both companies.
(The purchase price may be further adjusted during post-closing review period.)
* The expected date of the completion of sale in item 5 refers to the business closure date,
which has been agreed upon by both companies, and as of April 1, 2025,
the financial statements of this entity were separated from those of the Company.
Selected Financial Information of LGD CA
|
As of or for the year ended December 31, 2023 |
As of or for the year ended December 31, 2022 |
As of or for the year ended December 31, 2021 |
|
(in millions of KRW) |
||
Total Assets |
2,410,130 |
2,491,888 |
2,651,061 |
Total Liabilities |
275,824 |
337,994 |
355,541 |
Total Shareholders' Equity |
2,134,306 |
2,153,893 |
2,295,520 |
Total Equity |
1,419,241 |
1,419,241 |
1,419,241 |
Sales |
1,145,472 |
1,921,939 |
2,175,878 |
Net Profit |
108,801 |
133,486 |
380,788 |
Audit opinion |
Unqualified opinion |
Unqualified opinion |
Unqualified opinion |
Auditor |
KPMG |
KPMG |
KPMG |
LG Display Guangzhou Co., Ltd.
i. Number of directors present: three
ii. Number of directors absent: one
* The Total Amount of Sale in this report refers to the closing sale price,
which has been agreed upon by both companies.
(The purchase price may be further adjusted during post-closing review period.)
* The expected date of the completion of sale in item 5 refers to the business closure date,
which has been agreed upon by both companies, and as of April 1, 2025,
the financial statements of this entity were separated from those of the Company.
Selected Financial Information of LGD GZ
|
As of or for the year ended December 31, 2023 |
As of or for the year ended December 31, 2022 |
As of or for the year ended December 31, 2021 |
|
(in millions of KRW) |
||
Total Assets |
3,820,218 |
3,912,242 |
4,792,781 |
Total Liabilities |
3,306,879 |
2,497,036 |
3,480,019 |
Total Shareholders’ Equity |
513,339 |
1,415,206 |
1,312,763 |
Total Equity |
263,753 |
263,753 |
263,753 |
Sales |
2,144,773 |
3,063,485 |
3,371,505 |
Net Profit |
96,945 |
143,464 |
128,300 |
Audit opinion |
Unqualified opinion |
Unqualified opinion |
Unqualified opinion |
Auditor |
KPMG |
KPMG |
KPMG |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
LG Display Co., Ltd.
(Registrant)
Date: April 11, 2025 By: /s/ Kyu Dong Kim
(Signature)
Name: Kyu Dong Kim
Title: Vice President, Finance &
Risk Management Division