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Employment Benefits (Tables) | 12 Months Ended
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Dec. 31, 2021
Disclosure of information about defined benefit plans [abstract] |
Summary of Employment Benefits |
(1) | Employment benefit obligations as of December 31, 2020 and 2021 are as follows:
|  |  |  |  | 2020 |  |  | 2021 |
|  |  |  |  | In millions of won |
Net defined benefit asset |  | ￦ |  |  |  |  | 7,231 |  |  |  | 20,871 |
Net defined benefit obligations |  |  |  |  |  |  | 1,907,013 |  |  |  | 1,675,741 |
Other long-term employee benefit obligations |  |  |  |  |  |  | 3,847 |  |  |  | 3,417 |
Summary of Principal Assumptions on Actuarial Valuation |
(2) | Principal assumptions used for actuarial valuation as of December 31, 2020 and 2021 are as follows:
|  | 2020 |  |  | 2021 |
Discount rate |  |  | 1.87%~2.12% |  |  |  | 2.51% ~ 2.60% |
Future salary and benefit levels |  |  | 4.28% |  |  |  | 4.28% |
Weighted average duration |  |  | 10.77 years |  |  |  | 10.39 years |
Summary of Expense Relating to defined Benefit Plans |
(3) | Details of expense relating to defined benefit plans for the years ended December 31, 2019, 2020 and 2021 are as follows:
|  |  |  |  | 2019 |  |  | 2020 |  |  | 2021 |
|  |  |  |  | In millions of won |
Current service cost |  | ￦ |  |  |  |  | 440,300 |  |  |  | 509,520 |  |  |  | 524,942 |
Interest cost |  |  |  |  |  |  | 83,619 |  |  |  | 83,248 |  |  |  | 91,877 |
Expected return on plan assets |  |  |  |  |  |  | (41,597 | ) |  |  | (42,742 | ) |  |  | (52,782 | )
Past service cost |  |  |  |  |  |  | 301,442 |  |  |  | (2,027 | ) |  |  | 5,483 |
Loss from settlement |  |  |  |  |  |  | (2,017 | ) |  |  | — |  |  |  | — |
|  | ￦ |  |  |  |  | 781,747 |  |  |  | 547,999 |  |  |  | 569,520 |
Expenses described above are recognized in those items below in the consolidated financial statements.
|  |  |  |  | 2019 |  |  | 2020 |  |  | 2021 |
|  |  |  |  | In millions of won |
Cost of sales |  | ￦ |  |  |  |  | 580,623 |  |  |  | 397,442 |  |  |  | 415,959 |
Selling and administrative expenses |  |  |  |  |  |  | 120,455 |  |  |  | 94,846 |  |  |  | 95,983 |
Others (Construction-in-progress and others) |  |  |  |  |  |  | 80,669 |  |  |  | 55,711 |  |  |  | 57,578 |
|  | ￦ |  |  |  |  | 781,747 |  |  |  | 547,999 |  |  |  | 569,520 |
Summary of Defined Benefits |
(4) | Details of defined benefit obligations as of December 31, 2020 and 2021 are as follows:
|  |  |  |  | 2020 |  |  | 2021 |
|  |  |  |  | In millions of won |
Present value of defined benefit obligation from funded plans |  | ￦ |  |  |  |  | 4,570,614 |  |  |  | 4,564,417 |
Fair value of plan assets |  |  |  |  |  |  | (2,670,832 | ) |  |  | (2,909,547 | )
Net liabilities incurred from defined benefit plans |  | ￦ |  |  |  |  | 1,899,782 |  |  |  | 1,654,870 |
Summary of Changes in the Present Value of Defined Benefits |
(5) | Changes in the present value of defined benefit obligations for the years ended December 31, 2020 and 2021 are as follows:
|  |  |  |  | 2020 |  |  | 2021 |
|  |  |  |  | In millions of won |
Beginning balance |  | ￦ |  |  |  |  | 4,035,400 |  |  |  | 4,570,614 |
Current service cost |  |  |  |  |  |  | 509,520 |  |  |  | 524,942 |
Interest cost |  |  |  |  |  |  | 83,248 |  |  |  | 91,877 |
Remeasurement component |  |  |  |  |  |  | 84,385 |  |  |  | (345,755 | )
Past service cost |  |  |  |  |  |  | (2,027 | ) |  |  | 5,483 |
Actual payments |  |  |  |  |  |  | (139,956 | ) |  |  | (282,794 | )
Others |  |  |  |  |  |  | 44 |  |  |  | 50 |
Ending balance |  | ￦ |  |  |  |  | 4,570,614 |  |  |  | 4,564,417 |
Summary of Changes in the Fair Value of Plan Assets |
(6) | Changes in the fair value of plan assets for the years ended December 31, 2020 and 2021 are as follows:
|  |  |  |  | 2020 |  |  | 2021 |
|  |  |  |  | In millions of won |
Beginning balance |  | ￦ |  |  |  |  | 2,111,313 |  |  |  | 2,670,832 |
Expected return |  |  |  |  |  |  | 42,742 |  |  |  | 52,782 |
Remeasurement component |  |  |  |  |  |  | (390 | ) |  |  | (8,457 | )
Contributions by the employers |  |  |  |  |  |  | 582,275 |  |  |  | 317,707 |
Actual payments |  |  |  |  |  |  | (65,108 | ) |  |  | (123,317 | )
Ending balance |  | ￦ |  |  |  |  | 2,670,832 |  |  |  | 2,909,547 |
Summary of the Fair Value of Plan Assets |
(7) | Details of the fair value of plan assets as of December 31, 2020 and 2021 are as follows:
|  |  |  |  | 2020 |  |  | 2021 |
|  |  |  |  | In millions of won |
Equity instruments |  | ￦ |  |  |  |  | 253,358 |  |  |  | 344,002 |
Debt instruments |  |  |  |  |  |  | 822,582 |  |  |  | 744,167 |
Bank deposits |  |  |  |  |  |  | 284,655 |  |  |  | 407,809 |
Others |  |  |  |  |  |  | 1,310,237 |  |  |  | 1,413,569 |
|  | ￦ |  |  |  |  | 2,670,832 |  |  |  | 2,909,547 |
Summary of Remeasurement Components Recognized in Other Comprehensive Income (loss) |
(8) | Remeasurement components recognized in other comprehensive income (loss) for the years ended December 31, 2020 and 2021 are as follows:
|  |  |  |  | 2020 |  |  | 2021 |
|  |  |  |  | In millions of won |
Actuarial gain from changes in financial assumptions |  | ￦ |  |  |  |  | (2,979 | ) |  |  | (258,194 | )
Experience adjustments, etc. |  |  |  |  |  |  | 87,364 |  |  |  | (87,561 | )
Expected return |  |  |  |  |  |  | 390 |  |  |  | 8,457 |
|  | ￦ |  |  |  |  | 84,775 |  |  |  | (337,298 | )

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