Investment Properties

12 Months Ended

Dec. 31, 2022

Disclosure of detailed information about investment property [abstract]

19.	Investment Properties

(1)	Investment properties as of December 31, 2021 and 2022 are as follows:


		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


		2022
		Acquisition cost		Government grants			Accumulated depreciation			Book value

		In millions of won
Land	￦		194,417		—			—			194,417
Buildings			20,241		(21	)		(6,351	)		13,869

	￦		214,658		(21	)		(6,351	)		208,286

(2)	Changes in investment properties for the years ended December 31, 2021 and 2022 are as follows:


		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


		2022
		Beginning balance			Disposal			Depreciation			Others			Ending balance

		In millions of won
Land	￦		201,605			(208	)		—			(6,980	)		194,417
Buildings			11,209			—			(487	)		3,168			13,890
(Government grants)			(30	)		—			1			8			(21	)

	￦		212,784			(208	)		(486	)		(3,804	)		208,286

(3)	Income and expenses related to investment properties for the years ended December 31, 2021 and 2022 are as follows:


		2021			2022

		In millions of won
Rental income	￦		10,118			9,775
Operating and maintenance expenses related to rental income			(1,386	)		(587	)

	￦		8,732			9,188

(4)	Fair value of investment properties as of December 31, 2021 and 2022 are as follows:


		2021				2022
		Book value		Fair value		Book value		Fair value

		In millions of won
Land	￦		201,605		268,702		194,417		292,827
Buildings			11,179		13,636		13,869		15,626

	￦		212,784		282,338		208,286		308,453

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.