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Segment, Geographic and Other Information
 12 Months Ended
Dec. 31, 2020
Segment, Geographic and Other Information [Abstract]  
Segment, Geographic and Other Information
4.

Segment, Geographic and Other Information

 

(1)

Segment determination and explanation of the measurements

The Company’s operating segments are its business components that generate discrete financial information that is reported to and regularly reviewed by chief operating decision makers of the Company including but not limited to the Chief Executive Officer, for the purpose of resource allocation and assessment of segment performance. The Company’s reportable segments are ‘Transmission and distribution’, ‘Electric power generation (Nuclear)’, ‘Electric power generation (Non-nuclear)’, ‘Plant maintenance & engineering service’ and ‘Others’; others mainly represent the business unit that manages the Company’s foreign operations.

Segment operating profit (loss) is determined the same way that consolidated operating profit is determined under IFRS without any adjustment for corporate allocations. The accounting policies used by each segment are consistent with the accounting policies used in the preparation of the consolidated financial statements. Segment assets and liabilities are determined based on separate financial statements of the entities instead of on a consolidated basis. There are various transactions between the reportable segments, including sales of property, plant and equipment and so on, that are conducted on an arm’s-length basis at market prices that would be applicable to an independent third party. For subsidiaries which are in a different segment from that of its immediate parent company, their carrying amount in separate financial statements is eliminated in the consolidating adjustments in the tables below. In addition, consolidation adjustments in the table below include adjustments of the amount of investment in associates and joint ventures from the cost basis amount reflected in segment assets to that determined using equity method in the consolidated financial statements.

(2)

Financial information of the segments for the years ended December 31, 2018, 2019 and 2020, respectively, are as follows:

 

          2018  

Segment

         Total
segment
revenue		     Intersegment
revenue		     Revenue
from
external
customers		     Depreciation
and
amortization		     Interest
income		     Interest
expense		     Profit
related to
associates,
joint
ventures and
subsidiaries		     Employee
benefit
expense		     Loss on
abandonment
of property,
plant and
equipment		     Increase in
provisions, net		           Operating
profit (loss)		  
          In millions of won  

Transmission and distribution

     W       59,676,952       1,393,120       58,283,832       3,555,158       77,925       708,329       287,268       144,180       424,774       580,931         (1,814,363 ) 

Electric power generation (Nuclear)

       8,858,717       8,833,787       24,930       3,088,019       30,422       503,161       9,946       76,467       38,886       520,167         357,401  

Electric power generation (Non-nuclear)

       25,204,085       24,389,816       814,269       3,269,023       29,313       577,441       58,993       91,140       17,516       (227,234 )        482,418  

Plant maintenance & engineering service

       2,526,126       2,170,959       355,167       114,030       12,505       4,126       1,956       77,526       —         174,785         314,755  

Others

       996,300       441,436       554,864       55,513       117,878       119,037       —         1,742       —         356         102,421  

Consolidation adjustments

       (37,229,118 )      (37,229,118 )      —         (56,949 )      (44,276 )      (43,636 )      —         (30,480 )      —         7,989         (127,741 ) 
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

      

 

 

  
    W       60,033,062       —         60,033,062       10,024,794       223,767       1,868,458       358,163       360,575       481,176       1,056,994         (685,109 ) 
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

      

 

 

  

Finance income

                             796,870  
                         

 

 

  

Finance expense

                             (2,470,743 ) 
                         

 

 

  

Gain related to associates, joint ventures and subsidiaries

                             358,163  
                         

 

 

  

Loss before income tax

                           W       (2,000,819 ) 
                         

 

 

  
          2019  

Segment

         Total
segment
revenue		     Intersegment
revenue		     Revenue
from
external
customers		     Depreciation
and
amortization		     Interest
income		     Interest
expense		     Profit (loss)
related to
associates,
joint
ventures and
subsidiaries		     Employee
benefit
expense		     Loss on
abandonment
of property,
plant and
equipment		     Increase in
provisions, net		           Operating
profit (loss)		  
          In millions of won  

Transmission and distribution

     W       58,328,372       1,336,725       56,991,647       3,814,428       73,478       777,120       140,757       298,144       350,865       987,828         (2,568,529 ) 

Electric power generation (Nuclear)

       8,937,026       8,908,803       28,223       3,227,695       37,277       511,864       (5,497 )      132,283       —         672,134         782,511  

Electric power generation (Non-nuclear)

       24,254,957       23,472,153       782,804       3,955,333       35,626       655,466       77,641       163,626       13,364       766,407         551,287  

Plant maintenance & engineering service

       2,627,539       2,254,841       372,698       125,546       14,214       2,861       1,237       124,745       —         124,242         312,341  

Others

       1,049,324       656,614       392,710       127,364       141,262       134,248       —         18,409       4       2,408         (489,585 ) 

Consolidation adjustments

       (36,629,136 )      (36,629,136 )      —         (121,626 )      (33,739 )      (34,748 )      —         (12,087 )      —         (251,804 )        (295,552 ) 
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

      

 

 

  
    W       58,568,082       —         58,568,082       11,128,740       268,118       2,046,811       214,138       725,120       364,233       2,301,215         (1,707,527 ) 
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

      

 

 

  

Finance income

                             1,009,706  
                         

 

 

  

Finance expense

                             (2,782,156 ) 
                         

 

 

  

Gain related to associates, joint ventures and subsidiaries

                             214,139  
                         

 

 

  

Loss before income tax

                           W       (3,265,838 ) 
                         

 

 

  
          2020  

Segment

         Total
segment
revenue		     Intersegment
revenue		     Revenue
from
external
customers		     Depreciation
and
amortization		     Interest
income		     Interest
expense		     Profit (loss)
related to
associates,
joint
ventures and
subsidiaries		     Employee
benefit
expense		     Loss on
abandonment
of property,
plant and
equipment		     Increase in
provisions, net		           Operating
profit (loss)		  
          In millions of won  

Transmission and distribution

   ￦       57,345,933       1,224,602       56,121,331       3,836,355       48,220       737,973       169,176       190,302       236,727       731,194         3,045,912  

Electric power generation (Nuclear)

       9,938,941       9,817,147       121,794       3,564,120       25,581       503,485       (4,905 )      86,672       —         691,052         1,168,833  

Electric power generation (Non-nuclear)

       20,329,611       19,552,376       777,235       4,034,024       20,843       622,346       115,096       112,775       17,679       346,195         (172,884 ) 

Plant maintenance & engineering service

       2,703,472       2,283,333       420,139       119,056       11,789       1,250       1,740       101,255       —         230,264         197,553  

Others

       1,582,001       1,096,663       485,338       122,092       167,005       162,843       —         50,889       940       3,711         148,393  

Consolidation adjustments

       (33,974,121 )      (33,974,121 )      —         (127,628 )      (30,852 )      (32,472 )      —         (49,605 )      —         (169,651 )        (291,187 ) 
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

      

 

 

  
  ￦       57,925,837       —         57,925,837       11,548,019       242,586       1,995,425       281,107       492,288       255,346       1,832,765         4,096,620  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

      

 

 

  

Finance income

                             1,510,249  
                         

 

 

  

Finance expense

                             (2,896,443 ) 
                         

 

 

  

Gain related to associates, joint ventures and subsidiaries

                             281,107  
                         

 

 

  

Profit before income tax

                         ￦       2,991,533  
                         

 

 

  

 

(3)

Information related to segment assets and segment liabilities as of and for the years ended December 31, 2019 and 2020 are as follows:

 

          2019  

Segment

         Segment
assets		     Investments
in associates
and joint
ventures		     Acquisition of
non-current
assets		     Segment
liabilities		  
          In millions of won  

Transmission and distribution

   ￦       109,809,254       3,716,931       6,340,593       58,350,681  

Electric power generation (Nuclear)

       59,562,190       59,081       2,574,358       33,909,152  

Electric power generation (Non-nuclear)

       54,758,933       2,088,581       4,955,784       33,117,193  

Plant maintenance & engineering service

       3,528,879       50,238       95,810       1,124,855  

Others

       7,833,516       —         344,795       3,531,496  
   

 

 

    

 

 

    

 

 

    

 

 

  

Segment totals

       235,492,772       5,914,831       14,311,340       130,033,377  
   

 

 

    

 

 

    

 

 

    

 

 

  

Consolidation adjustments:

          

Elimination of inter-segment amounts

       (39,207,636 )      —         (81,555 )      (6,654,717 ) 

Equity method adjustment

       1,791,844       —         —         —    

Deferred taxes

       2,048       —         —         5,329,158  

Others

       (481,236 )      —         —         325  
   

 

 

    

 

 

    

 

 

    

 

 

  
      (37,894,980 )      —         (81,555 )      (1,325,234 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

Consolidated totals

   ￦       197,597,792       5,914,831       14,229,785       128,708,143  
   

 

 

    

 

 

    

 

 

    

 

 

  
          2020  

Segment

         Segment
assets		     Investments
in associates
and joint
ventures		     Acquisition of
non-current
assets		     Segment
liabilities		  
          In millions of won  

Transmission and distribution

   ￦       113,115,667       4,204,090       6,535,380       59,772,046  

Electric power generation (Nuclear)

       61,850,865       116,867       2,419,939       35,652,467  

Electric power generation (Non-nuclear)

       54,531,155       1,807,409       3,758,795       33,292,680  

Plant maintenance & engineering service

       3,492,571       42,167       141,226       1,061,949  

Others

       8,923,046       —         577,056       4,039,220  
   

 

 

    

 

 

    

 

 

    

 

 

  

Segment totals

       241,913,304       6,170,533       13,432,396       133,818,362  
   

 

 

    

 

 

    

 

 

    

 

 

  

Consolidation adjustments:

          

Elimination of inter-segment amounts

       (39,762,888 )      —         (30,731 )      (6,749,728 ) 

Equity method adjustment

       1,372,001       —         —         —    

Deferred taxes

       47,664       —         —         5,417,629  

Others

       (427,970 )      —         —         (10,998 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  
      (38,771,193 )      —         (30,731 )      (1,343,097 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

Consolidated totals

   ￦       203,142,111       6,170,533       13,401,665       132,475,265  
   

 

 

    

 

 

    

 

 

    

 

 

  
(4)

Geographic information

Electricity sales, the main operations of the Company, are conducted in the Republic of Korea. The following information on revenue from external customers and non-current assets is determined by the location of the customers and of the assets:

 

Geographical unit

          Revenue from external customers     Non-current assets(*2)  
         2018     2019     2020     2018     2019     2020  
           In millions of won  

Domestic

    ￦       57,799,991       56,942,128       56,774,577       157,037,428       169,366,365       173,673,478  

Overseas(*1)

        2,233,071       1,625,954       1,151,260       3,299,346       2,743,755       2,831,925  
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
   ￦       60,033,062       58,568,082       57,925,837       160,336,774       172,110,120       176,505,403  
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

  (*1)

Middle East and other Asian countries make up the majority of overseas revenue and non-current assets. Since the overseas revenue or non-current assets attributable to particular countries are not material, they are not disclosed individually.

 

  (*2)

The amounts exclude financial assets and deferred tax assets.

 

(5)

Information on significant customers

There is no single customer which accounts for 10% or more of the Company’s revenue for the years ended December 31, 2018, 2019 and 2020.