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Sales in the fourth quarter of 2008 increased by 8% to KRW 4,156 billion from sales of KRW 3,861 billion in the third quarter of 2008, and decreased by 4% compared to KRW 4,322 billion in the fourth quarter of 2007.

Operating loss in the fourth quarter of 2008 was KRW 288 billion compared to an operating profit of KRW 254 billion in the third quarter of 2008, and an operating profit of KRW 869 billion in the fourth quarter of 2007.

EBITDA in the fourth quarter of 2008 was KRW 250 billion, decreased from EBITDA of KRW 874 billion in the third quarter of 2008 and from KRW 1,614 billion in the fourth quarter of 2007.

Net loss in the fourth quarter of 2008 was KRW 684 billion compared to a profit of KRW 295 billion in the third quarter of 2008 and a profit of KRW 760 billion in the fourth quarter of 2007.

The company reflected in the net loss the entire fine amount of USD 400 million related to the antitrust investigation of the LCD industry in the US market. The fine will be paid over five years starting in 2009.

Annual sales and operating profit of 2008 both reached a record high. Annual sales was KRW 16,264 billion and operating profit was KRW 1,735 billion.

Young Soo Kwon, CEO of LG Display, said, “The industry has experienced drastic market environment changes in 2008. However, we built a strong business structure that can effectively deal with such changes and posted a record performance in sales and operating profit for 2008. We are committed to strengthen out strategic cooperative ties with global customers by providing differentiated customer value and will turn the current challenges into opportunity for future growth.”

The company shipped a total of 3.86 million square meters of net display area in the fourth quarter of 2008, an increase of 5% quarter-on-quarter even in the slow down of TV and IT markets which was effected by global economy recession. TFT-LCD panels for TVs, monitors, notebook PCs and mobile applications accounted for 57%, 20%, 18% and 5%, respectively, on a revenue basis in the fourth quarter of 2008.

The average selling price per square meter of net display area shipped was USD 766, which was a decrease of approximately 23% compared to the average of the third quarter of 2008.

The factory utilization rate averaged around 80% in the fourth quarter of 2008, which helped maintain healthy inventory levels. Production yield was managed in excellent level through quality enhancement and activities to eliminate particles in production lines. Cost reduction activities such as developing cost-innovative models, helped to lower the cost of goods sold per square meter of net display area shipped in USD basis by 7% from the third quarter of 2008.

On January 16, LG Display’s Board of Directors approved investment of the amount of KRW577 billion in a new LTPS LCD facility in Korea for premium LCDs primarily used in mobile devices.

Also LG Display’s Board of Directors decided to submit the agenda of Amendment to the Article of Incorporation, that adds ‘research, development, manufacturing, sales and marketing of products utilizing solar energy’ on the objectives of the company, to the Annual General Meeting for approval which is scheduled to be held March 13, 2009.

Outlook

The following expectations are based on information as of January 16, 2009. The Company does not expect to update its expectations until next quarter’s earnings announcement. However, the Company reserves the right to update its full business outlook, or any portion thereof, at any time and for any reason.

LG Display expects total net display area shipment to decrease by a low single digit percentage. The company expects that there is a limited possibility for further price decline compared to the end of 2008. Also, price rebound is expected in some product categories. COGS reduction per square meter is expected to be a low teens percentage in the first quarter.


Earnings Conference and Conference Call

LG Display will hold a Korean language earnings conference on January 16, 2008, at 4:00 p.m. Korea Standard Time at the LG Twin Tower Auditorium (East Tower, B1) in 20 Yoido-dong, Yeongdeungpo-gu, Seoul, Korea. An English language conference call will follow at 10:00 pm. Korea Standard Time, 8:00 am. New York and 1:00 pm. London. The call-in number is +82 (0)31-810-3001 both for callers in Korea and callers outside of Korea. The confirmation number is 9999. Corresponding slides will be available at the Investor Relations section of the LG Display web site: www.lgdisplay.com.

Investors can listen to the conference call via the Internet at www.lgdisplay.com. To listen to the live call, please go to the Investor Relations section of the web site at least 15 minutes prior to the call to register and install any necessary audio software.

For those who are unable to participate in the call, a replay will be available for 30 days after the call. The call-in number is 031-810-3100 for callers in Korea and +82-31-810-3100 for callers outside of Korea. The confirmation number for the replay is 109240#.


About LG Display

LG Display Co., Ltd [NYSE: LPL, KRX: 034220] is a leading manufacturer and supplier of thin-film transistor liquid crystal display (TFT-LCD) panels, OLEDs and flexible displays. The company provides TFT-LCD panels in a wide range of sizes and specifications for use in TVs, monitors, notebook PCs, and various applications. LG Display currently operates seven fabrication facilities and five back-end assembly facilities in Korea, China and Poland. The company has a total of 25,000 employees operating in ten countries around the world.
Please visit www.lgdisplay.com for more information.

Forward-Looking Statement Disclaimer

This press release contains forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Additional information as to factors that may cause actual results to differ materially from our forward-looking statements can be found in our filings with the United States Securities and Exchange Commission.


Investor Relations Contact:
C.H. Lee, Senior Manager, IR Team
LG Display
Tel: +822-3777-1010
Email: ir@lgdisplay.com

Media Contacts:
Bang-Soo Lee, VP, Public Affairs & PR
LG Display
Tel: +822-3777-1020
Email: bsleeb@lgdisplay.com

Claire Ohm, Manager, Corporate PR
LG Display
Tel: +822-3777-1004
Email: hcohm@lgdisplay.com