Construction Contracts (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Changes in Total Contract Amount in Which Revenue is Not Yet Recognized

(1)	Changes in total contract amount in which revenue is not yet recognized for the years ended December 31, 2021, 2022 and 2023 are as follows:


		2021
		Beginning balance		Increase (decrease) (*)		Recognized as revenue			Ending balance

		In millions of won
Nuclear power plant construction in overseas and others	￦		3,152,725		386,208		(754,998	)		2,783,935

(*)

For the year ended December 31, 2021, the increased balance of contracts from new orders is ￦458,635 million and the decreased balance of contracts due to changes in scope of construction work and foreign exchange impact is ￦72,427 million.


		2022
		Beginning balance		Increase (decrease) (*)		Recognized as revenue			Ending balance

		In millions of won
Nuclear power plant construction in overseas and others	￦		2,783,935		3,457,964		(646,953	)		5,594,946

(*)

For the year ended December 31, 2022, the increased balance of contracts from new orders is ￦3,578,599 million and the decreased balance of contracts due to changes in scope of construction work and foreign exchange impact is ￦81,401 million.


		2023
		Beginning balance		Increase (decrease) (*)		Recognized as revenue			Ending balance

		In millions of won
Nuclear power plant construction in overseas and others	￦		5,594,946		986,049		(785,395	)		5,795,600

(*)

For the year ended December 31, 2023, the increased balance of contracts from new orders is ￦1,029,165 million and the decreased balance of contracts due to changes in scope of construction work and foreign exchange impact is ￦43,116 million.

Summary of Accumulated Earned Revenue, Expense and Others

(2)	Accumulated earned revenue, expense and others related to the Company’s construction contracts in progress as of December 31, 2022 and 2023 are as follows:


		2022
		Accumulated earned revenue		Accumulated expense		Accumulated profit		Unearned advance receipts

		In millions of won
Nuclear power plant construction in overseas and others	￦		22,507,004		21,666,552		840,452		29,877


		2023
		Accumulated earned revenue		Accumulated expense		Accumulated profit		Unearned advance receipts

		In millions of won
Nuclear power plant construction in overseas and others	￦		22,996,785		22,382,628		614,157		74,253

Summary of Gross Amount of Assets and Liabilities for Contract

(3)	Gross amount due from customers recognized as contract assets and due to customers recognized as contract liabilities for contract work as of December 31, 2022 and 2023 are as follows:


		2022				2023
		Contract assets (*1)		Contract liabilities (*2)		Contract assets (*1)		Contract liabilities (*2)

		In millions of won
Nuclear power plant construction in overseas and others	￦		118,983		120,952		183,204		270,789

(*1)

Included in trade and other receivables, net, in the consolidated statements of financial position. The balance of trade receivables from construction contracts are ￦85,757 million and ￦101,180 million, as of December 31, 2022 and 2023, respectively.

(*2)

Included in non-financial liabilities as advance received in the consolidated statements of financial position. The revenue recognized on December 31, 2023 from the amounts included in contract liabilities at the end of the prior year is ￦117,311 million.