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LPL » Topics » B. Hedge of fair value

This excerpt taken from the LPL 6-K filed Nov 6, 2009.

B. Hedge of fair value

We enter into foreign currency forward contracts to manage the exposure to changes in the value of foreign currency denominated accounts receivable and accounts payable in accordance with its foreign currency risk management policy. Hedge accounting is not applied to the abovementioned derivatives.

 

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Table of Contents

(1) Foreign currency forward contracts

Details of foreign currency forwards outstanding as of September 30, 2009 are as follows:

(In millions of Won and USD, except forward rate)

 

Bank

    Maturity date    Selling    Buying    Forward rate

Standard Chartered First Bank Korea and 4 others

    October 16, 2009 ~

October 21, 2009

    US$  70    (Won) 87,869    (Won)1,249.4:US$1 ~

(Won)1,263.4:US$1

(2) Unrealized gains and losses

Unrealized gains and losses related to the above derivatives as of September 30, 2009 are as follows:

(In millions of Won)

 

Type

    Unrealized gains    Unrealized losses

Foreign Currency Forwards

    (Won) 4,632    —  

The unrealized gains and losses are charged to operations as gains and losses on foreign currency translation for the nine months ended September 30, 2009.

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