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Property, Plant and Equipment

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

18.

Property, Plant and Equipment

(1)

Property, plant and equipment as of December 31, 2019 and 2020 are as follows:


		2019
		Acquisition cost		Government grants			Accumulated depreciation			Accumulated impairment losses			Book value
		In millions of won
Land	￦		13,848,063		(21,817	)		—			—			13,826,246
Buildings			20,756,351		(61,920	)		(8,305,683	)		(4,962	)		12,383,786
Structures			70,900,343		(186,554	)		(25,711,840	)		(9,633	)		44,992,316
Machinery			89,224,339		(158,907	)		(38,865,392	)		(451,647	)		49,748,393
Ships			3,104		—			(2,903	)		—			201
Vehicles			309,829		(2,275	)		(239,128	)		(116	)		68,310
Equipment			1,716,210		(241	)		(1,342,053	)		(42	)		373,874
Tools			1,098,127		(403	)		(934,023	)		(40	)		163,661
Construction-in- progress			28,584,806		(61,211	)		—			(165,336	)		28,358,259
Right-of-use assets			7,574,010		—			(2,790,437	)		—			4,783,573
Asset retirement costs			11,690,188		—			(4,169,238	)		(146,423	)		7,374,527
Others			12,955,782		—			(10,327,101	)		—			2,628,681

	￦		258,661,152		(493,328	)		(92,687,798	)		(778,199	)		164,701,827


		2020
		Acquisition cost		Government grants			Accumulated depreciation			Accumulated impairment losses			Book value
		In millions of won
Land	￦		13,970,098		(23,475	)		—			(26,772	)		13,919,851
Buildings			21,773,824		(57,231	)		(9,150,218	)		(7,074	)		12,559,301
Structures			74,136,523		(180,009	)		(27,864,461	)		(13,207	)		46,078,846
Machinery			94,295,027		(157,785	)		(43,740,838	)		(515,402	)		49,881,002
Ships			2,482		—			(2,227	)		—			255
Vehicles			338,386		(632	)		(259,288	)		(115	)		78,351
Equipment			1,895,528		(227	)		(1,487,643	)		(42	)		407,616
Tools			1,195,721		(239	)		(1,003,295	)		(39	)		192,148
Construction-in-progress			31,121,255		(79,126	)		—			(157,530	)		30,884,599
Right-of-use assets			7,905,214		—			(3,363,048	)		—			4,542,166
Asset retirement costs			12,260,732		—			(4,701,138	)		(146,423	)		7,413,171
Others			13,979,980		—			(11,227,899	)		—			2,752,081

	￦		272,874,770		(498,724	)		(102,800,055	)		(866,604	)		168,709,387

(2)

Changes in property, plant and equipment for the years ended December 31, 2019 and 2020 are as follows:


		2019
		Beginning balance			Effect of change in accounting policy			Acquisition			Disposal			Depreciation			Impairment *(1,4)*			Others *(2,3)*			Ending balance
		In millions of won
Land	￦		13,554,292			—			40,752			(29,205	)		—			(25,626	)		307,850			13,848,063
(Government grants)			(21,968	)		—			—			151			—			—			—			(21,817	)
Buildings			11,933,691			—			3,195			(23,409	)		(821,680	)		(1,293	)		1,355,202			12,445,706
(Government grants)			(63,189	)		—			(592	)		—			6,214			—			(4,353	)		(61,920	)
Structures			42,711,795			—			1,663			(470,230	)		(2,399,283	)		(1,234	)		5,336,159			45,178,870
(Government grants)			(190,854	)		—			—			2,405			9,373			—			(7,478	)		(186,554	)
Machinery			47,456,595			—			326,606			(248,951	)		(5,452,669	)		(12,247	)		7,837,966			49,907,300
(Government grants)			(173,242	)		—			(1,050	)		635			17,993			—			(3,243	)		(158,907	)
Ships			302			—			—			—			(100	)		—			(1	)		201
Vehicles			72,189			—			3,789			4,558			(33,650	)		—			23,699			70,585
(Government grants)			(4,220	)		—			(228	)		5			2,170			—			(2	)		(2,275	)
Equipment			382,859			—			47,532			(162	)		(199,376	)		(227	)		143,489			374,115
(Government grants)			(418	)		—			(81	)		—			262			—			(4	)		(241	)
Tools			192,675			—			20,956			(31	)		(87,708	)		—			38,172			164,064
(Government grants)			(675	)		—			—			—			281			—			(9	)		(403	)
Construction-in-progress			28,821,167			—			13,544,091			(199,853	)		—			(8,828	)		(13,737,107	)		28,419,470
(Government grants)			(54,740	)		—			12,338			—			—			—			(18,809	)		(61,211	)
Finance lease assets			195,730			(195,730	)		—			—			—			—			—			—
(Government grants)			(26	)		26			—			—			—			—			—			—
Right-of-use assets			—			5,143,651			220,996			—			(581,074	)		—			—			4,783,573
Asset retirement costs			5,571,754			—			—			—			(626,856	)		—			2,429,629			7,374,527
Others			2,359,477			—			1,388			(221	)		(800,653	)		(581	)		1,069,271			2,628,681

	￦		152,743,194			4,947,947			14,221,355			(964,308	)		(10,966,756	)		(50,036	)		4,770,431			164,701,827

(*1)	KEPCO Bylong Australia Pty., Ltd., 100% owned subsidiary, performed an impairment test over its land and others. The Company recognized the amount of the carrying amount in excess of its recoverable amount as an impairment loss.

(*2)	‘Others’ include the amounts of assets acquired by the business combination. (see Note 51)

(*3)	‘Others’ include the amounts reclassified from construction-in-progress to other assets during the prior year relating to the assets which became usable two years before but were considered immaterial.

(*4)	As described in Note 2, the Company recognized impairment loss of ￦3,819 million related to Wolsong unit 1, Shin-Hanul unit 3 & 4 and reversal of impairment loss of ￦16,693 million related to Wolsong unit 1.


		2020
		Beginning balance			Acquisition		Disposal			Depreciation			Impairment			Others			Ending balance
		In millions of won
Land	￦		13,848,063			5,330		(31,304	)		(273	)		—			121,510			13,943,326
(Government grants)			(21,817	)		—		2			—			—			(1,660	)		(23,475	)
Buildings			12,445,706			7,225		(16,015	)		(875,680	)		(2,107	)		1,057,403			12,616,532
(Government grants)			(61,920	)		—		—			5,206			—			(517	)		(57,231	)
Structures			45,178,870			36,091		(346,612	)		(2,313,920	)		(3,571	)		3,707,997			46,258,855
(Government grants)			(186,554	)		—		2,032			9,526			—			(5,013	)		(180,009	)
Machinery			49,907,300			407,521		(283,845	)		(5,526,816	)		(74,362	)		5,608,989			50,038,787
(Government grants)			(158,907	)		—		496			17,468			—			(16,842	)		(157,785	)
Ships			201			—		—			(106	)		—			160			255
Vehicles			70,585			3,880		(151	)		(35,036	)		—			39,705			78,983
(Government grants)			(2,275	)		—		4			2,064			—			(425	)		(632	)
Equipment			374,115			72,655		(86	)		(186,004	)		—			147,163			407,843
(Government grants)			(241	)		—		—			149			—			(135	)		(227	)
Tools			164,064			28,048		(193	)		(82,862	)		—			83,330			192,387
(Government grants)			(403	)		—		—			243			—			(79	)		(239	)
Construction-in-progress			28,419,470			12,726,469		(486	)		—			7,799			(10,189,527	)		30,963,725
(Government grants)			(61,211	)		8,783		—			—			—			(26,698	)		(79,126	)
Right-of-use assets			4,783,573			291,334		(827	)		(586,254	)		—			54,340			4,542,166
Asset retirement costs			7,374,527			131		(196	)		(819,708	)		—			858,417			7,413,171
Others			2,628,681			6,470		(8,145	)		(984,097	)		(366	)		1,109,538			2,752,081

	￦		164,701,827			13,593,937		(685,326	)		(11,376,100	)		(72,607	)		2,547,656			168,709,387