A field sequential liquid crystal display (FS-LCD) capable of obtaining desired chromaticity and luminance by setting driving conditions of light emitting diodes (LEDs) having a large driving current distribution per LED product, and driving a backlight including R, G, and B LEDs according to a corresponding driving condition. An LCD driving circuit prestores driving conditions for a liquid crystal and driving conditions for each of a plurality of LEDs. A liquid crystal panel in the FS-LCD is driven based on a corresponding prestored driving condition for the liquid crystal, and the R, G, and B LEDs forming the backlight are driven based on a corresponding driving condition for each LED. The liquid crystal panel also includes a temperature sensor and a luminance and chromaticity sensor. The driving conditions may vary based on sensed temperature, chromaticity, and luminance.