A liquid crystal display includes a lower substrate and an upper substrate facing each other, a liquid crystal layer disposed between the lower substrate and the upper substrate, a color conversion layer disposed on the liquid crystal layer, a first polarizing layer and a first phase difference layer disposed between the liquid crystal layer and the color conversion layer, and a second polarizing layer and a second phase difference layer disposed between a light source and the lower substrate, wherein the first phase difference layer has a refractive index satisfying Inequality 1 and the second phase difference layer has refractive indexes satisfying Inequality 2. nx1≥ny1≥nz1  [Inequality 1] nx2>nz2>ny2  [Inequality 2] In Inequalities 1 and 2, nx1, nx2, ny1, ny2, nz1, and nz2 are the same in the detailed description.