A video decoding method performed by a video decoding apparatus according to the present document may comprise the steps of: parsing a prediction weighted table syntax from a bitstream; parsing number information about weighted reference pictures in a reference picture list from the prediction weighted table syntax; deriving a weighting factor-related flag about the reference picture list on the basis of the number information; performing weighted prediction on a current block on the basis of the weighting factor-related flag so as to derive prediction samples of the current block; generating residual samples on the basis of residual information obtained from the bitstream; and reconstructing a current picture on the basis of the prediction samples and the residual samples, wherein the prediction weighted table syntax is parsed from a picture header of the bitstream.