Good morning, and good afternoon. Thank you for joining LG Electronics earnings release conference call for the second quarter of 2022. This conference call will start with a presentation on the earnings results, followed by a Q&A session, at which time, if you wish to ask a question, you will need to press star and one on your telephone. I would now like to hand the conference over to the first speaker. Good afternoon. My name is Sangb o Sim from Investor Relations. Thank you for joining LG Electronics earnings release conference call for the second quarter of 2022. With me are representatives of each business management division, Mr. Young Won Seo from Home Appliance & Air Solution, Mr. Jung-Il Lee from Home Entertainment Company, Mr. Ju Yong Kim from Vehicle Component Solutions Company, Mr. Choong Hyun Park from Business Solutions Company. We are also joined by Mr. Sang Ho Park from Global Business Management Group, Mr. Hong Su Lee from Accounting Division, and Mr. Chong Hyun Park from Finance Division. Please note that all statements we will be making today regarding the financial results of the second quarter are subject to change in accordance with the results of the external review. I would also like to remind you that uncertainties in the market and changes in strategies may cause our results to be different from the outlooks and forward-looking statements made today. Today, I will outline the overall performance results of the second quarter of 2022 and the outlook for the third quarter. After that, each division will take turns to deliver its business results and outlook. Now let me start with the consolidated financial results of the second quarter of 2022 and the outlook for the third quarter. Consolidated sales of the second quarter was KRW 19.5 trillion, and operating profit was KRW 792.2 billion. Despite the decline in global TV demand, sales grew 15% year-on-year on the back of increased sales in premium appliances and revenue growth in vehicle component business with easing of OEM production disruptions. Though there was upward pressure on expense with rising raw material and logistics costs, we maintained solid profitability attributable to the turnaround in VS and top-line growth in the appliance business. I will now briefly review the second quarter performance of each business. H&A recorded KRW 8.1 trillion in sales, KRW 432.2 billion in operating profit, and 5.4% in profitability. HE recorded KRW 3.5 trillion in sales and KRW 18.9 billion in operating loss. VS recorded KRW 2 trillion in sales, KRW 50 billion in operating profit, and 2.5% in profitability. BS recorded KRW 1.5 trillion in sales, KRW 14.3 billion in operating profit, and 0.9% in profitability. Each business will later share its respective business results and outlook in detail. Let's move on to the profit and loss and cash flow of the second quarter. In terms of profit and loss, reflecting financial income and expense, equity method gain and loss, other non-operating income and expense, corporate income tax, and income and loss from discontinued operations, we posted KRW 338 billion in net income. Next, on cash flow. Q2 cash flow from operating activities was KRW 1.8 trillion, and cash flow from investment activities was negative KRW 922.7 billion, resulting in net cash flow of KRW 984.8 billion. When reflecting cash flow from financial activities of negative KRW 121.3 billion, cash balance at the end of Q2 came to stand at KRW 6.5 trillion, or KRW 863.5 billion increase from the previous quarter. Next is the key financial position and indicators for the second quarter of 2022. As of the end of the second quarter, assets stood at KRW 55.4 trillion, liability at KRW 32.1 trillion, and equity at KRW 23.3 trillion. In terms of leverage ratios, net debt to equity, liability to equity, and debt to equity all decreased quarter-over-quarter and year-over-year, and we continue to maintain a healthy financial condition. Next is the outlook for the third quarter. In terms of the business environment, uncertainties are expected to persist due to geopolitical risks stemming from the prolonged Russia-Ukraine conflict, worsening inflation, and declining consumer sentiment. Amidst this environment, we will actively address the polarized demand through improved product mix with focus on premium products and expansion of cost-competitive mass-tier products. We will drive profitable growth by enhancing sales in VS and boosting contents and advertisement revenue. We predict third quarter revenue to grow year-over-year on the back of solid sales of appliances and top-line growth in vehicle components. We seek to secure profitability through efficient resource management and product mix improvement. We will move on to the second quarter results and third quarter outlook by business. Before that, I would like to state that upon closing the solar panel business at the end of June, following our announcement on discontinuing operations last February, all related profit and loss has been reflected in income and loss from discontinued operations from the Q2 earnings release, in line with accounting guidelines on discontinued operations, and past performance results have also been restated. Now the business results and outlook, starting with H&A. Let me share the second quarter results of H&A. We recorded sales of KRW 8 trillion, up 18% year-over-year, led by growth in overseas markets, notably North America. Though the revenue growth in overseas markets acted as an upside factor for profitability, operating profit decreased year-over-year due to rising raw material and logistics costs. Next is the outlook for the third quarter. With worsening inflation and waning consumption of consumer goods in the market, demand for home appliances is expected to slow, causing the competition among market players to further intensify. Amidst this environment, we seek to expand premium model sales and strengthen the competitiveness of our volume zone models to continuously scale the business. We will raise selling prices and reduce costs to secure profitability. I will share the second quarter results of HE. Sales declined year-on-year due to sluggish sales in major advanced markets impacted by the decrease in global TV demand. Despite improved material cost with panel price drops, operating profit decreased year-on-year due to declining revenue and increased marketing spending to address the intensifying competition. Now let me share the outlook for the third quarter. In the market, as concerns of a global recession continue to shrink market consumption, competition is projected to further intensify. Accordingly, we will enhance revenue by expanding sales of premium products, such as OLED TVs, and proactively capturing opportunities provided by the upcoming World Cup. We plan to secure profitability through efficient marketing spending. Let me share the second quarter results of VS. Sales grew year-on-year to stand at KRW 2 trillion, thanks to proactive efforts to address additional demand from OEMs by effectively managing the supply chain. We moved into profit on a quarterly basis on the back of revenue growth and ongoing efforts to improve cost structure. Next, the outlook for the third quarter. While the automotive chip shortage is expected to gradually ease, uncertainties in the external market stemming from inflationary pressures and geopolitical risks are expected to persist. By strengthening cooperation with automotive OEMs and better managing the supply chain, we will actively respond to rising demand, and we will continuously improve cost structure and minimize risk from uncertainties in the market to maintain top line growth and profitability. I will share the second quarter results of BS. Q2 sales increased year-on-year, led by recovery in B2B demand and consequent top line growth in information display. Sales decreased somewhat against the previous quarter due to slowing sales following the peak season for PCs in Q1. Despite the strong performance in ID, operating profit decreased year-on-year, impacted by the intensifying competition due to reduced IT demand and a hike in major components and logistics costs. Now let me share the outlook for the third quarter. IT demand is expected to decline with concerns of a global recession and COVID entering the endemic phase. B2B demand is expected to rise, supported by the base effect from last year, though growth may slow compared to past projections. We will build on the sales growth momentum and continue to secure profitability by continuously identifying potential B2B projects in diverse verticals and gaining more project wins. That brings us to the end of the second quarter earnings release and outlook for the third quarter. We will now take questions. Operator, please commence with the Q&A session. Now, Q&A session will begin. Please press star and one if you have any questions. Questions will be taken according to the order you have pressed the star and one. For cancellation, please press star and two on your phone. The first question will be provided by Dongwon Kim from KB Securities. Please go ahead with your question. Thank you for taking my questions. I have two questions to VS. First, I would like to ask for your mid to long-term projections on the vehicle component business. Could you elaborate in detail on infotainment, LG Magna and ZKW? My second question is also to the VS business. I understand that recently LG Magna e-Powertrain, together with ZKW, it decided to establish plants in Mexico, and they are making active investments at the moment. Could you tell us about the background of such investments? Is it because you have secured new clients in North America or because you expect the order intake growth to remain high? Yeah. I would like to answer your first question. VS Company is confident that we are equipped with a sound foundation of growth based on over KRW 60 trillion worth order backlog as of last year. Based on the mid- to long-term strategy of each business, we will work to strengthen our position as a global vehicle component provider. To start with infotainment, we have developed integrated cockpit based on software capabilities and enhanced our cybersecurity-related business. As a result, we are expecting growth of mid- to high-teens% based on strategy to expand products with high added value. Next, the EV component business will accelerate growth by approximately 50% level through securing business capability and diversifying customer and product portfolio based on cooperation with Magna. Last but not least, the vehicle lamp business. We are working to achieve continuous growth based on sound profitability with large volume consumer or product mix structure and better operating capabilities. Expected growth rate is in the mid to high teens. Thank you. I would like to answer your second question regarding investment in the Mexico plant. The United States is asking OEMs and Tier 1 suppliers to satisfy their United States-Mexico-Canada Agreement or USMCA conditions in order to invigorate their EV industry and create jobs. We have decided to build a plant in Mexico in order to have a competitive edge in winning orders in the future and to secure more business opportunities. We are currently expecting our investment in building the Mexico plant to bring greater chances of supplying not only to North American OEMs, but also to Korean and Japanese OEMs that are targeting the U.S. market. Thank you. Next question, please. The following question will be presented by Jisan Kim from Kiwoom Securities. Please go ahead with your question. Thank you for taking my questions. I have two questions to HE and H&A. My first question regards to home entertainment. The global TV demand is remaining low, leading to high level of channel inventory. What are your projections on sales and profitability of TV market overall and of HE company on the second half of this year, especially with expectations regarding the major sports events? My second question regards to H&A. It seems that your revenue is higher than competitors. However, your profitability fell more sharply versus your competitors. In this context, how do you manage to maintain the revenue gap with competitors? On the other hand, why is it that your profitability fall more sharply compared to your competitors? Yeah. I would like to answer your question regarding Home Entertainment. Ever since we've enjoyed profitability during the pandemic, now we are seeing greater inventory level as TV demand went down because of inflation and rise in interest rates. As we are seeing higher channel inventory, especially in advanced markets including North America and Europe, we have taken timely actions following the global economic situation and TV market trends, adjusting our production volume in the second quarter. In other words, we have normalized the channel inventory level so far. Because of greater global inflation, the consumption sentiment is expected to maintain weak and other uncertainties are expected to remain in the TV market in the second half of this year. However, we do expect sales leverage to recover in the second half, thanks to upcoming events such as the Qatar World Cup, planned in November and Black Friday seasons. Based on in-depth understandings and taking a look at the opportunities that lie in front of us in the second half, we would like to fully leverage our leadership in the premium market, and as a result, we will focus on achieving higher sales in premium TVs, efficiently making investments and managing the inventory level compared to the second quarter in order to gradually enhance profitability. Thank you. Let me answer your second question on H&A. Last year, for the first time, we were ahead of Whirlpool, our major competitor, in terms of sales revenue and the revenue gap in Q1 is widening further. We expect this gap to remain in our Q2 results as well. We're going to continue to focus on enhancing our premium models, and we are going to also focus on the volume zone. Also, we will continue to enhance business capabilities for not only essential home appliances such as refrigerators and washers, but also for products with hygienic features such as dryers and dishwashers. We will constantly work on differentiating ourselves by offering new products and services, including the upgradable home appliances that we have launched early this year. Despite revenue growth, the impact of soaring raw material and logistics costs was not sufficiently offset, leading to a decline in profitability year-over-year. That said, our profit margin still remains above the average profit margin of our key competitors. Next question, please. The following question will be presented by Loco Kim from Hana Financial Investment. Please go ahead with your question. Thank you for taking my questions. I have two questions. My first question is on corporate wide operations. The cost pressure and the sluggish demand for key products are expected to persist into the second half. In this context, what is your outlook and can you share your response measures? My second question is on H&A. As retailers inventory days increase, there are growing concerns over the company's profitability in the second half. In relation to this, can you give us an update on your inventory levels and how much of an impact will it have on your profitability? Ne. On the raw material side, uncertainty persists, partly driven by an extended conflict in Ukraine. We're continuously hedging risk through futures trading and enhanced partnerships with key channels. At the same time, we're working on improving the fundamental cost structure, for example, by adopting more cost-saving materials. On the demand side, there are concerns over slowing demand for home appliances and TVs as rising inflation weighs on consumers' purchasing power. In response to this, based on detailed strategy for each region and segment, we will continue to expand sales of premium home appliance products in advanced markets such as North America, where robust growth is expected. At the same time, we're going to continue the growth momentum by enhancing the competitiveness of mass-tier products in emerging markets. We will be fully prepared to respond to the peak season, including the World Cup, through the expansion of OLED TV lineup and aggressive promotions. As for the vehicle component business, we expect to see additional demand as the shortage of automotive semiconductors is showing signs of easing. Also driven by increased investments in infrastructure, the B2B business environment, including digital signage, is expected to improve. We're going to leverage this to drive corporate-wide revenue growth and profitability. Let me answer your second question on H&A. The distribution inventory of the first half of 2022 remains at appropriate levels and is being managed at stable levels. As the sales forecast of retailers for the second half vary by region, we are adjusting the supply volume in a timely manner, in line with changing sales projections. We are exercising sound inventory management by expanding supply for regions that have the growth momentum, while reducing supply in regions where sales are expected to decline. Therefore, we believe excess inventory will have little impact on our profitability. Next question, please. The following question will be presented by SK Kim from Daiwa Capital Markets. Please go ahead with your question. 두 번째는 전사 쪽 질문이 될 것입니다. 첫 번째 질문은 이 코로나, 코로나19 상황으로 TV 등 컨슈머 제품에 대한 펜업 수요가 지난 이 년간 굉장히 강해서 우리 회사는 호실적을 계속 달성해 왔는데요. 올해부터는 이런 리오프닝 트렌드랑 그리고 지금 글로벌 인플레이션 상황이 이렇게 맞물리면서, 지금 상황이 내년까지도 우리 주력 사업인 컨슈머 분야, 컨슈머 섹터의 실적 하락이 계속 지속될 것이라는 우려가 높은 상황입니다. 이에 대한 회사의 의견과 대응 전략이 무엇인지 좀 말씀 부탁드리고요. 두 번째는 올해 지금 이 분기까지 실적을 보면, 1분기에 일회성 효과가 상당히 크게 반영된 게 있었고, 올해는 또 실적 연결되는 LG Innotek이 실적이 상당히 호실적을 보이고 있는데요. 이 부분을 사실 제외하면 올해 연간 실적은 작년 대비해서 좀 저조할 것으로 지금 예상이 됩니다, 현재로 봤을 때. 그런 상황에서 하반기 그리고 내년 실적을 봤을 때 회사 측면에서 좀 업사이드로 기대할 수 있는 부분이 있는지, 이 부분에 대해서 말씀해 주시면 감사하겠습니다. 감사합니다. Thank you for taking my question. My first question is on home entertainment. I understand that LG Electronics witnessed high performance during the past two years under the COVID-19 pandemic, thanks to the strong pent-up demand in the consumer electronics such as home appliances and TV. With both reopening trends and global inflation in the market, there are heightened concerns of your performance in the consumer sector declining from this year into 2023. Could you share your projections and countermeasures? My second question is on corporate-wide operations. Taking a look at the results until the second quarter, we have witnessed one-off effect in the Q1 and a strong performance of LG Innotek. Excluding the two, the performance for the year 2022 is expected to be weaker compared to last year. In this context, can we expect any sort of upside in terms of the company's performance in the second half and beyond? 네, HE본부 답변드리도록 하겠습니다. 코로나19로 인해 지난 이 년간 수요 증가로 인해, 팬데믹 증가로 인해 저희들이 상당히 호실적을 보인 건 사실이고요. 팬데믹 종료 및 글로벌 경제 위기로 인해 올해 같은 경우에는 당장 수요도 감소하고, 이 수요도 내년까지는 어느 정도 감소할 것으로 저희들도 예상하고 있습니다. I would like to ask you a question on home entertainment. It is true that the market demand is projected to go down until 2023 due to the end of the pandemic and global economic slowdown, despite the rising demand trend that we had witnessed during the past two years. 이런 상황에서 당사는 이제까지 계속 이야기하고 있지만, OLED TV를 중심으로 한 프리미엄 시장에서의 지위를 강화하는 측면 하나와 그리고 요즘에 다변화되어 있는 고객의 경험에 대해서 차별화를 하는 부분, 그리고 하드웨어가 아닌 플랫폼 사업 강화라는 측면에서 크게 세 가지 축을 가지고 사업의 질적 성장을 추진하고자 합니다. Under these circumstances, we have three major pillars to bring qualitative growth to our business. First, strengthening our stance in the premium market with our OLED TV lineup. Next, differentiating customer experience. Lastly, strengthening platform business. 먼저 OLED TV를 중심으로 한 프리미엄 시장 지위 강화와 관련되어서는 이미 경쟁사도 QD-OLED를 올해 출시하였지만, 가면 갈수록 프리미엄 시장의 수요는 올해도 어느 정도 증가하고 있고, 지속적으로 증가할 것으로 저희들은 보고 있습니다. 그래서 당사는 OLED TV의 종주 브랜드로서 그간 쌓아놓은 노하우를 바탕으로 다른 OLED TV와 차별화되는 LG OLED TV만의 가치를 소비자들에게 제공하여 프리미엄 TV 시장에서 지위를 확대하고 유지해 나갈 계획입니다. To start with, we would like to maintain strong leadership in the OLED TV market that is expected to show rapid growth thanks to our competitor's entry with its QD-OLED into this market. As a pioneer of OLED TVs, LG Electronics would like to provide a differentiated LG OLED TV experience to our customers so that they can actually experience the difference. We believe that this will enable us to strengthen our stance in the premium market. 두 번째로는 그 다양한 고객의 열망에 대응하는 제품과 서비스를 통해서 차별화를 지속해 나갈 것입니다. Next, we will continue to differentiate our product and services so that it satisfies our customer needs. TV를 단순히 시청하는 것이 아니라 사용하는 고객 경험의 변화에 대응하기 위해서 고객의 의견을 제품, 서비스에 반영할 수 있는 프로세스 등 근본적인 변화를 현재 추진 중에 있습니다. We are working on to bring fundamental changes that can reflect our customers' opinion and thoughts to our product and services in order to go hand in hand with the customer experience transition from simply viewing to make actual use of TVs. We will bring LG's innovative form factors such as StanbyME and content and services to fit in the super personalized era and lock in our fans. Lastly, we will take a software-centric perspective to boost platform business growth. We have been nurturing our revenue growth in content and services through webOS-based Smart TVs. Our plan is to integrate all sort of screen experience from various devices as well as TVs, and to further expand our business portfolio with enhanced business model, adding advertisement and so on. Thank you. Let me answer your question on corporate-wide operations. As you know, uncertainties surrounding the business environment caused by global inflationary pressures, governments around the world raising interest rates and supply bottlenecks are likely to persist. On top of this, concerns over an extended conflict in Ukraine, slowing global economic recovery, are expected to heighten the already existing uncertainty. In response to this, from a B2B perspective, we are going to maximize leverage by solidifying our competitive presence, backed by premium products in core markets, including the North American region, where we're maintaining relatively robust growth. At the same time, as mentioned before, we're going to continue to explore additional sources of income, including content and ad revenue, based on our TV platform competitiveness. Also, from B2B perspective, with the shortage of automotive semiconductors showing signs of easing, we will be fully prepared to respond to additional orders from the OEMs, and thus expand sales. By actively responding to the new orders of digital signage and hotel TVs that are showing signs of full recovery, we aim to capture additional revenue opportunities. Next question, please. The following question will be presented by Simon Woo from Bank of America. Please go ahead with your question. Thank you for taking my questions. I have two questions. My first question is on corporate-wide operations. For the past several years, you had very strong results, but in spite of that, your debt amounts to KRW 10 trillion, and as the interest rates are soaring, it is likely that your finance costs will also increase in line with that. I have a follow-up. What is your response to this? Let me answer your first question on finance costs. As most of our debt has long-term fixed interest rates, there has been little increase in the finance costs triggered by rising interest rates. For new borrowing, though, we expect to see an increase in the interest expense driven by rising interest rates. We're going to minimize the increase in our finance costs through low interest funding, utilizing various sources of funding. On the other hand, as our deposits have variable interest rates, we expect rising interest rates to drive up the interest income, offsetting the increase in finance costs associated with new borrowing. My second question is on Home Entertainment. As you mentioned, the sales in second quarter dropped a lot, and this is leading to negative results. I know that you are in the market with premium OLED TVs with high ASP and margins. However, at a time when your competitor jumped in as a market player with their QD-OLED, and it seems to be a very high-end product. At a time when, as mentioned, the TV market is not so promising, could you tell us about your strategies and how to operate and how to countermeasure this situation? I would like to answer your question on HE. We focus on the fact that when our competitor first unveiled its QD-OLED TVs, they finally recognized the value of OLED and scrapped the strategy they used to proceed, and they scrapped to diminish OLED TVs that they were pursuing in order to secure the LCD TV market. Back then, we delivered our message that we do welcome their entry into the OLED TV market during the last IR calls. Taking a look at our competitors, they have very limited entry into the market. They only launched their models to North America and Europe, and they only have 65-inch and 55-inch model lineup. We can say that their market stance in the OLED market is very limited. To tell you about our strategy, I believe that our product is very, like, superior. We have launched OLED evo this year, and also we have launched various products with resolutions in 8K, 4K, and size from 42 inches to 97 inches. We are planning to launch these new sizes in the second half, and we have other form factors such as bendable gaming TVs and carrier TVs. I believe that our lineup will be strong enough to deal with the market, and we are trying to provide an array of options to our customers so that they can experience furthermore and feel the differentiated product. I do believe that our strategy will work. Thank you. Telling you about the market recovery sector, of course, the demand dropped dramatically. However, we also have impact from the high channel inventory level within the market. However, this is not limited only to LG Electronics, but all TV market has experienced such difficulties. As mentioned previously, I believe that the channel inventory may be normalized soon, and we still can work with the premium strategy we have been working. We believe that this may lead to greater profitability. Next question, please. The following question will be presented by Sung-Yul Kwon from DB Financial Investment. Please go ahead with your question. Thank you for taking my question. I have one question on BS. The solar panel business is terminated as by the end of the first half of this year, and starting from the second half, the BS division will mainly operate in the IT and ID sector. My question is, what is your outlook after the closure of the solar panel business? Please share the strategy and outlook of the BS division. For example, what would be the appropriate level of margin and profitability after the closure of the solar panel business? Please share your outlook. Let me answer your question. In terms of products going forward, the BS division will continue to achieve above industry average profitability through high-end focused product portfolios, including gaming monitors, gram PCs and digital signage and hotel TVs. In terms of growth potential, as you mentioned, we will be focusing on our IT business and ID business, and I hope you understand that we are reaching a right balance between B2C and B2B. In terms of our B2C business, the IT business, we are going to focus on high-end products, and as the demand for high-end products is growing, we believe we will grow in line with that. In terms of our ID business in B2B, we will focus on providing tailored products for each vertical and thereby expanding our pipeline. Thank you. Next question, please. The following question will be presented by Jong Jin Park from JPMorgan. Please go ahead with your question. 질문 감사드립니다. VS Division에 질문 하나 있는데, 아까 전체적인 세일즈 그로스에 사업부별로 말씀을 드렸는데요. 여기 백로그 수주 잔고가 어느 정도 되는지, 올해 연말까지 어느 정도 되는지 말씀해 주시면 감사드리겠고요. 그리고 이 백로그라는 게 가장 궁금한 게, 이게 어떻게 되면 펌 오던가, 아니면 이 백로그라는 것도 커스터머에 따라서 좀 바뀔 수 있는 건지 그거 좀 확인시켜 주시면 감사드리겠습니다. I have one question to VS. You talked about sales growth, and I believe that you have backlogs until the end of this year. When talking about backlog, could you confirm whether this is a like already fixed figure or it may change according to customer requests? 예, VS 본부 답변드리겠습니다. 최근 배포된 기사와 같이 당사는 상반기에 총 8조 원 규모의 신규 프로젝트를 수주하면서 현재 60조 원 중반대 수주 잔고를 보유하고 있습니다. As covered in the media recently, we have one new project that amounts to KRW 8 trillion in the first half of the year, and our order backlog level remains in the mid- KRW 60 trillion level. 제품별 비중은 인포테인먼트 제품이 잔고 수준의 약 60% 수준을 차지하고 있고, 전기차 부품과 차량용 램프가 각각 20%를 차지하고 있습니다. To tell you in detail, infotainment products account for 60%, while EV components and vehicle lamps account for 20% each. Building up the order backlog. 예, 그 백록의 그 건전성 관련된 질문으로 이해를 하고 있는데요. 저희 수주라고 하는 거의 특성을 보시면은 저희는 플랫폼 수주를 하고 있기 때문에 그 차량에 들어가는 인포테인먼트나 모터, 램프 등에서 공급하는 기본 계약을 맺는 부분이고, 그 물량에 대한 부분은 고객사의 차량 판매에 좀 연동된다고 보시면 될 것 같습니다. 결국 그 물량을 갖다 납품하는 부분은 확정이고요. 물량에 대한 부분들은 시장 변동성이라든가 고객사의 차량 판매 변동성에 따라서 좀 유동적이라고 보시면 될 것 같습니다. 이상입니다. I believe that you are asking questions about our soundness of the backlog. When we talk about order backlogs, we provide platform to our clients and we have confirmed contract in providing infotainment, motor, and lamps. About the detailed volume, it changes according to how much our OEM companies will sell afterwards. The confirmed factor is that we will provide the components to our OEM companies and about the detailed volume, it may change furthermore. Thank you. 네, 질문과 답변 감사드립니다. 혹시 다음 질문 대기하고 있으면 부탁드리겠습니다. Thank you. Do you have any further questions? 현재 질문을 요청하신 분은 없습니다. 질문을 하실 분은 전화기 버튼의 별표와 일번을 눌러주시기 바랍니다. Currently there are no participants with questions. Please press star one and one to give your question. 예, 혹시 질문하실 분 계시면 질문 부탁드리겠습니다. Please ask us any questions if any. 네, 추가적인 질문이 없는 것 같습니다. 그럼 이상으로 2022년 2분기 LG전자 실적 발표 컨퍼런스 콜을 마치도록 하겠습니다. 이 시간 이후 추가적인 질문이 있으신 분은 저희 LG전자 IR팀으로 연락을 주시면 자세하게 설명을 드리도록 하겠습니다. 컨퍼런스 콜에 참석해 주셔서 감사합니다. If there is no further questions, that brings us to the end of LG Electronics earnings release conference call for the second quarter of 2022. For further questions, please contact the IR team. Thank you.