A luminance compensation device can include a luminance compensator configured to: receive a pixel driving voltage from a host system, the pixel driving voltage being supplied to both the luminance compensator and a display panel, receive a reference pixel driving voltage generated by a drive IC, compare the pixel driving voltage with the reference pixel driving voltage to detect a voltage drop in the pixel driving voltage, the voltage drop being a difference between the pixel driving voltage and the reference pixel driving voltage, amplify the voltage drop of the pixel driving voltage by a predetermined weighted value to generate an amplified voltage drop, and adjust a gamma reference voltage based on the amplified voltage drop to generate an adjusted gamma reference voltage.