Board of Directors

LG Display's Board of Directors has the authority to make decisions and control the company's major management matters in accordance with relevant laws and Articles of Incorporation. A total of seven board members, consisting of two inside directors, one other non-executive director, and four outside directors, perform management decision-making and supervision functions. No outside directors serve for more than six years in accordance with the law. In order to efficiently establish the internal accounting management system, the Chief Financial Officer(CFO), an internal accounting manager, participates in the Board as an inside director, strengthening the effectiveness of the internal accounting management system and the transparency of governance. In consideration of the changing business environment, the CEO serves as the chairman of the Board to enhance their expertise in the business.

In accordance with the requirements for the independence of outside directors, we ensure that a majority (57%) of the board members are independent for effective supervision of management's duties. The Outside Director Nomination Committee conducts a comprehensive evaluation to verify the independence, expertise, and diversity of candidates for outside directors, ensuring the selection of suitable candidates. The ESG Committee meeting held in April 2023 has introduced guidelines for the independence of outside directors. Additionally, we consider other factors of independence not specified in these guidelines, such as following sentence. We allow outside directors to concurrently serve in one company excluding LG Display, as long as there is no competition with LG Display, and only within the scope permitted by our criteria, following to Commercial Act and related laws, for disqualification of outside directors to ensure their effective performance of duties.

We aim to form a board of directors that prioritizes diversity and expertise, aiming to enhance corporate value, achieve sustainable growth, and protect shareholders' rights and interests. In April 2023, the ESG Committee introduced the Guidelines for the Board Expertise and Diversity, which emphasizes the importance of diverse expertise and does not impose restrictions based on gender, race, nationality, politics, or cultural background during the director appointment process and by appointing outside directors with various expertise in industrial technology, finance/accounting, law, management consulting, etc., it was declared that we would secure expertise in overall corporate management. As part of our commitment to diversity, we have appointed female outside directors in recent years, including a legal expert in 2022 and an industrial technology expert in 2023.
To enhance the expertise and accountability of our outside directors in their management activities, we organize annual workshops covering various topics such as the current status of major businesses, investment directions, industrial technology, product production processes, revised laws, and feedback from investors. We also facilitate visits for outside directors to our domestic and international business sites enabling them to gain a deeper understanding of the display industry, its technology, and its operational processes. As outlined in Article 12 of our Regulations of the Board of Directors, the Board may seek support from external experts through a resolution when deemed necessary.