Investment Properties

12 Months Ended

Dec. 31, 2021

Disclosure of detailed information about investment property [abstract]

19.	Investment Properties

(1)	Investment properties as of December 31, 2020 and 2021 are as follows:


		2020
		Acquisition cost		Government grants			Accumulated depreciation			Book value
		In millions of won
Land	￦		200,391		—			—			200,391
Buildings			59,347		(29	)		(34,514	)		24,804

	￦		259,738		(29	)		(34,514	)		225,195


		2021
		Acquisition cost		Government grants			Accumulated depreciation			Book value
		In millions of won
Land	￦		201,605		—			—			201,605
Buildings			19,543		(30	)		(8,334	)		11,179

	￦		221,148		(30	)		(8,334	)		212,784

(2)	Changes in investment properties for the years ended December 31, 2020 and 2021 are as follows:


		2020
		Beginning balance			Depreciation			Others			Ending balance
		In millions of won
Land	￦		129,897			—			70,494			200,391
Buildings			28,696			(1,454	)		(2,409	)		24,833
(Government grants)			(13	)		1			(17	)		(29	)

	￦		158,580			(1,453	)		68,068			225,195


		2021
		Beginning balance			Depreciation			Others			Ending balance
		In millions of won
Land	￦		200,391			—			1,214			201,605
Buildings			24,833			(1,387	)		(12,237	)		11,209
(Government grants)			(29	)		1			(2	)		(30	)

	￦		225,195			(1,386	)		(11,025	)		212,784

(3)	Income and expenses related to investment properties for the years ended December 31, 2020 and 2021 are as follows:


		2020			2021
		In millions of won
Rental income	￦		8,335			10,118
Operating and maintenance expenses related to rental income			(1,453	)		(1,386	)

	￦		6,882			8,732

(4)	Fair value of investment properties as of December 31, 2020 and 2021 are as follows:


		2020				2021
		Book value		Fair value		Book value		Fair value
		In millions of won
Land	￦		200,391		300,001		201,605		268,702
Buildings			24,804		44,597		11,179		13,636

	￦		225,195		344,598		212,784		282,338

The Company determined the fair value of investment property on the transition date based on valuations conducted by an independent valuation firm that is independent of the Company. The valuation firm has appropriate qualifications and experience in the valuation of real estate in the Republic of Korea, and the valuation was conducted using a comparison method, which is a method of obtaining economic value based on the marketability of the property. The fair values of the investment properties as of the reporting date were determined in consideration of the fluctuation on the publicly announced individual land price after the IFRS transition date (January 1, 2010).

(5)	All of the Company’s investment properties are held under freehold interests.