XML 46 R30.htm IDEA: XBRL DOCUMENT
v3.21.1

Employment Benefits | 12 Months Ended
--- | ---
Dec. 31, 2020
Employment Benefits [Abstract] |
Employment Benefits |
25. | Employment Benefits
(1) | Employment benefit obligations as of December 31, 2019 and 2020 are as follows:
|  |  |  |  | 2019 |  |  | 2020 |
|  |  |  |  | In millions of won |
Net defined benefit asset |  | ￦ |  |  |  |  | 1,047 |  |  |  | 7,231 |
Net defined benefit obligations |  |  |  |  |  |  | 1,925,134 |  |  |  | 1,907,013 |
Other long-term employee benefit obligations |  |  |  |  |  |  | 4,720 |  |  |  | 3,847 |
(2) | Principal assumptions on actuarial valuation as of December 31, 2019 and 2020 are as follows:
|  | 2019 |  |  | 2020 |
Discount rate |  |  | 1.92%~2.05% |  |  |  | 1.87%~2.12% |
Future salary and benefit levels |  |  | 4.39% |  |  |  | 4.28% |
Weighted average duration |  |  | 10.95 years |  |  |  | 10.77 years |
(3) | Details of expense relating to defined benefit plans for the years ended December 31, 2018, 2019 and 2020 are as follows:
|  |  |  |  | 2018 |  |  | 2019 |  |  | 2020 |
|  |  |  |  | In millions of won |
Current service cost |  | ￦ |  |  |  |  | 369,899 |  |  |  | 440,300 |  |  |  | 509,520 |
Interest cost |  |  |  |  |  |  | 87,687 |  |  |  | 83,619 |  |  |  | 83,248 |
Expected return on plan assets |  |  |  |  |  |  | (42,135 | ) |  |  | (41,597 | ) |  |  | (42,742 | )
Past service cost |  |  |  |  |  |  | — |  |  |  | 301,442 |  |  |  | (2,027 | )
Loss from settlement |  |  |  |  |  |  | (767 | ) |  |  | (2,017 | ) |  |  | — |
|  | ￦ |  |  |  |  | 414,684 |  |  |  | 781,747 |  |  |  | 547,999 |
Expenses described above are recognized in those items below in the consolidated financial statements.
|  |  |  |  | 2018 |  |  | 2019 |  |  | 2020 |
|  |  |  |  | In millions of won |
Cost of sales |  | ￦ |  |  |  |  | 308,672 |  |  |  | 580,623 |  |  |  | 397,442 |
Selling and administrative expenses |  |  |  |  |  |  | 51,903 |  |  |  | 120,455 |  |  |  | 94,846 |
Others (Construction-in-progress and others) |  |  |  |  |  |  | 54,109 |  |  |  | 80,669 |  |  |  | 55,711 |
|  | ￦ |  |  |  |  | 414,684 |  |  |  | 781,747 |  |  |  | 547,999 |
In addition, for the years ended December 31, 2018, 2019 and 2020, employee benefit obligations expenses of ￦66,833 million, ￦71,844 million and ￦60,587million, respectively, are recognized as cost of sales, and ￦13,204 million, ￦12,775 million and ￦9,121 million, respectively, are recognized as selling and administrative expenses, and ￦14,189 million, ￦13,893 million and ￦11,861 million, respectively, are recognized as construction-in-progress and others, relates to the Company’s defined contribution plans.
(4) | Details of defined benefit obligations as of December 31, 2019 and 2020 are as follows:
|  |  |  |  | 2019 |  |  | 2020 |
|  |  |  |  | In millions of won |
Present value of defined benefit obligation from funded plans |  | ￦ |  |  |  |  | 4,035,400 |  |  |  | 4,570,614 |
Fair value of plan assets |  |  |  |  |  |  | (2,111,313 | ) |  |  | (2,670,832 | )
|  |  |  |  |  |  | 1,924,087 |  |  |  | 1,899,782 |
Present value of defined benefit obligation from unfunded plans |  |  |  |  |  |  | — |  |  |  | — |
Net liabilities incurred from defined benefit plans |  | ￦ |  |  |  |  | 1,924,087 |  |  |  | 1,899,782 |
(5) | Changes in the present value of defined benefit obligations for the years ended December 31, 2019 and 2020 are as follows:
|  |  |  |  | 2019 |  |  | 2020 |
|  |  |  |  | In millions of won |
Beginning balance |  | ￦ |  |  |  |  | 3,414,116 |  |  |  | 4,035,400 |
Current service cost |  |  |  |  |  |  | 440,300 |  |  |  | 509,520 |
Interest cost(*) |  |  |  |  |  |  | 83,619 |  |  |  | 83,248 |
Remeasurement component |  |  |  |  |  |  | (93,736 | ) |  |  | 84,385 |
Past service cost |  |  |  |  |  |  | 301,442 |  |  |  | (2,027 | )
Loss from settlement |  |  |  |  |  |  | (2,018 | ) |  |  | — |
Actual payments |  |  |  |  |  |  | (108,057 | ) |  |  | (139,956 | )
Others |  |  |  |  |  |  | (266 | ) |  |  | 44 |
Ending balance |  | ￦ |  |  |  |  | 4,035,400 |  |  |  | 4,570,614 |
| (*) | The Company decided to include a performance incentive for management evaluation in the average wage during the previous year and recognized it as past service cost.
(6) | Changes in the fair value of plan assets for the years ended December 31, 2019 and 2020 are as follows:
|  |  |  |  | 2019 |  |  | 2020 |
|  |  |  |  | In millions of won |
Beginning balance |  | ￦ |  |  |  |  | 1,775,331 |  |  |  | 2,111,313 |
Expected return |  |  |  |  |  |  | 41,597 |  |  |  | 42,742 |
Remeasurement component |  |  |  |  |  |  | (11,186 | ) |  |  | (390 | )
Contributions by the employers |  |  |  |  |  |  | 348,386 |  |  |  | 582,275 |
Actual payments |  |  |  |  |  |  | (42,815 | ) |  |  | (65,108 | )
Ending balance |  | ￦ |  |  |  |  | 2,111,313 |  |  |  | 2,670,832 |
In addition, loss on accumulated remeasurement component amounting to ￦117,779million and ￦169,234million has been recognized as other comprehensive income or loss for the years ended December 31, 2019 and 2020, respectively.
(7) | Details of the fair value of plan assets as of December 31, 2019 and 2020 are as follows:
|  |  |  |  | 2019 |  |  | 2020 |
|  |  |  |  | In millions of won |
Equity instruments |  | ￦ |  |  |  |  | 189,235 |  |  |  | 253,358 |
Debt instruments |  |  |  |  |  |  | 648,265 |  |  |  | 822,582 |
Bank deposit |  |  |  |  |  |  | 199,743 |  |  |  | 284,655 |
Others |  |  |  |  |  |  | 1,074,070 |  |  |  | 1,310,237 |
|  | ￦ |  |  |  |  | 2,111,313 |  |  |  | 2,670,832 |
For the years ended December 31, 2019 and 2020, actual returns on plan assets amounted to ￦30,411 million and ￦42,352 million, respectively.
(8) | Remeasurement component recognized in other comprehensive income (loss) for the years ended December 31, 2019 and 2020 are as follows:
|  |  |  |  | 2019 |  |  | 2020 |
|  |  |  |  | In millions of won |
Actuarial gain from changes in financial assumptions |  | ￦ |  |  |  |  | (2,916 | ) |  |  | (2,979 | )
Experience adjustments, etc. |  |  |  |  |  |  | (90,820 | ) |  |  | 87,364 |
Expected return |  |  |  |  |  |  | 11,186 |  |  |  | 390 |
|  | ￦ |  |  |  |  | (82,550 | ) |  |  | 84,775 |
Remeasurement component recognized as other comprehensive income or loss is included in retained earnings.

X
- Definition The entire disclosure for employee benefits. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2020-01-01 -Section Scope -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=19&code=ifrs-tx-2020-en-r&doctype=Standard&dita_xref=IAS19_g2-7_TI -URIDate 2020-01-01 + Details
Name: | ifrs-full_DisclosureOfEmployeeBenefitsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | kep_DisclosureOfEmploymentBenefitObligationsAbstract
Namespace Prefix: | kep_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration