LG Display CEO Jeong Cheol-dong stated that the company achieved a real profit in the second quarter when excluding one-time costs related to voluntary retirement. He expressed strong confidence that performance will significantly improve in the second half of the year, which is typically a peak season.
Speaking to reporters on July 22 after the 2026 Korea Display Industry Exhibition in Seoul, Jeong acknowledged that some may have been disappointed with the Q2 results, but emphasized that the one-time costs from workforce efficiency measures, including voluntary retirement, were reflected in the figures. He noted, "Even considering this, we are maintaining a profit trend for the first half of the year," indicating that the proactive costs for business improvement have led to solid results.
LG Display reported a consolidated revenue of 5.6121 trillion won and an operating loss of 107.7 billion won for the second quarter. Revenue remained similar to the same period last year, while the operating loss decreased by about 7% compared to the previous year, narrowing the deficit.
For the first half of the year, the company recorded a revenue of 11.1461 trillion won and an operating profit of 39 billion won, marking a return to profitability compared to the same period last year.
Jeong stated, "Even when looking at the entire first half, we are clearly on a path of recovery in performance," confirming that the efforts to strengthen the business are yielding results.
Regarding the outlook for the second half, he conveyed an even more positive message. Jeong said, "Due to the seasonal characteristics of the display industry, we expect the second half's performance to be significantly better than the first half," and pledged to focus the company's capabilities to meet market expectations with excellent results.
He also addressed the increased external uncertainties due to rising memory semiconductor prices, which have raised cost pressures for finished product manufacturers and led to downward pressure on panel prices.
Jeong acknowledged, "It is true that there are some effects from the surge in memory prices on the display market," but he expressed confidence, stating, "We have been continuously engaged in cost improvement activities based on technology, so we can sufficiently endure and overcome the current level of external variables."
He also discussed advancements in next-generation technologies and new business plans, stating, "We are fully prepared to expand tandem OLED technology, which significantly improves the lifespan and power efficiency of organic light-emitting diodes (OLED), beyond existing IT and automotive products into the mobile sector, including smartphones."
Additionally, he mentioned ongoing reviews of investments in 8.6-generation OLED and research and development of advanced technologies such as glass interposers, reinforcing the company's technological differentiation. Jeong emphasized, "In the future, we will continue to provide differentiated value to customers based on a transition to a high-value-added business structure and our unique technological capabilities."
* This article has been translated by AI.
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