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Employment Benefits (Tables)

12 Months Ended

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	)

X

- Definition

The disclosure of defined benefit plans. [Refer: Defined benefit plans [member]]

+ References

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The disclosure of the fair value of defined benefit plan assets. [Refer: Plan assets [member]; Defined benefit plans [member]]

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The disclosure of a net defined benefit liability (asset). [Refer: Net defined benefit liability (asset)]

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