Investment Properties

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about investment property [abstract]

19.	Investment Properties

(1)	Investment properties as of December 31, 2022 and 2023 are as follows:


		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


		2023
		Acquisition cost		Government grants			Accumulated depreciation			Book value

		In millions of won
Land	￦		172,594		—			—			172,594
Buildings			20,043		(22	)		(7,088	)		12,933

	￦		192,637		(22	)		(7,088	)		185,527

(2)	Changes in investment properties for the years ended December 31, 2022 and 2023 are as follows:


		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


		2023
		Beginning balance			Disposal		Depreciation			Others			Ending balance

		In millions of won
Land	￦		194,417			—		—			(21,823	)		172,594
Buildings			13,890			—		(494	)		(441	)		12,955
(Government grants)			(21	)		—		1			(2	)		(22	)

	￦		208,286			—		(493	)		(22,266	)		185,527

(3)	Income and expenses related to investment properties for the years ended December 31, 2022 and 2023 are as follows:


		2022			2023

		In millions of won
Rental income	￦		9,775			10,519
Operating and maintenance expenses related to rental income			(587	)		(507	)

	￦		9,188			10,012

(4)	Fair value of investment properties as of December 31, 2022 and 2023 are as follows:


		2022				2023

		Book value		Fair value		Book value		Fair value
		In millions of won
Land	￦		194,417		292,827		172,594		258,478
Buildings			13,869		15,626		12,933		13,437

	￦		208,286		308,453		185,527		271,915

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.