[Edaily Reporter SOYEON KIM ] Jeong Cheol-dong, President and CEO of LG Display, received compensation totaling 14.5 billion won in the first half of this year. Additionally, LG Display’s workforce decreased by more than 1,500 employees in the first half as the company implemented a voluntary retirement program.

According to the interim report disclosed by LG Display on the 14th, President Jeong received a total of 1.457 billion won in the first half, consisting of 727 million won in salary, 726 million won in bonuses, and 4 million won in other employment income.

LG Display explained that the compensation was determined in light of the company’s return to profitability for the first time in four years through the enhancement of its OLED-centered business structure, despite uncertainties in the domestic and international business environment, including a slowdown in demand in the IT and TV markets in 2025.

The company also took into account contributions to strengthening mid- to long-term competitiveness through cost innovation, enhancing the competitiveness of the OLED business, and preparing for future technologies. In fact, OLED products accounted for 58% of LG Display’s total revenue by product category, an increase of 3 percentage points compared to the same period last year (55%).

The total number of employees in the first half of the year was 23,490, a decrease of 1,567 compared to the same period last year (25,057). Personnel expenses for the second quarter of this year totaled 1.053164 trillion won, a 27.5% increase compared to the same period last year (825.598 billion won). This is interpreted as the result of implementing a voluntary retirement program. The average salary for these employees was 52 million won.

LG Display’s research and development (R&D) expenses for the first half of the year totaled 1.1745 trillion won. R&D expenses accounted for 10.5% of revenue.