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Leases (Tables)

12 Months Ended

Dec. 31, 2023

Presentation of leases for lessee [abstract]

Summary of Right-of-Use Assets

(2) Right-of-use assets as of December 31, 2022 and 2023 are as follows:

						2022
						Acquisition cost				Accumulated depreciation				Book value
						In millions of won
Land		￦					886,076				(224,277	)			661,799
Buildings							135,290				(60,434	)			74,856
Structures							30,879				(6,914	)			23,965
Machinery							1,737				(902	)			835
Ships							4,151,460				(1,554,597	)			2,596,863
Vehicles							35,712				(20,996	)			14,716
Others (*)							751,570				(413,479	)			338,091
		￦					5,992,724				(2,281,599	)			3,711,125

(*) Including a power purchase agreement (“PPA”) with CGN Yulchon Generation Co., Ltd.

						2023
						Acquisition cost				Accumulated depreciation				Book value
						In millions of won
Land		￦					937,481				(281,621	)			655,860
Buildings							188,017				(97,444	)			90,573
Structures							46,573				(9,217	)			37,356
Machinery							26,453				(20,510	)			5,943
Ships							4,137,168				(1,823,863	)			2,313,305
Vehicles							59,208				(33,717	)			25,491
Others (*)							646,894				(411,679	)			235,215
		￦					6,041,794				(2,678,051	)			3,363,743

(*) Including a power purchase agreement (“PPA”) with CGN Yulchon Generation Co., Ltd.

Summary of Changes in Right-of-Use Assets

(3) Changes in right-of-use assets for the years ended December 31, 2022 and 2023 are as follows:

						2022
						Beginning balance				Increase				Depreciation				Decrease				Others				Ending balance
						In millions of won
Land		￦					652,795				63,654				(41,260	)			—				(13,390	)			661,799
Buildings							62,884				42,399				(30,243	)			(1,042	)			858				74,856
Structures							21,148				4,256				(1,758	)			—				319				23,965
Machinery							565				429				(159	)			—				—				835
Ships							3,029,219				—				(393,677	)			—				(38,679	)			2,596,863
Vehicles							13,618				13,475				(8,673	)			(962	)			(2,742	)			14,716
Others							279,168				72,803				(33,298	)			(834	)			20,252				338,091
		￦					4,059,397				197,016				(509,068	)			(2,838	)			(33,382	)			3,711,125

						2023
						Beginning balance				Increase				Depreciation				Decrease				Others				Ending balance
						In millions of won
Land		￦					661,799				2,696				(57,461	)			(126	)			48,952				655,860
Buildings							74,856				24,622				(32,591	)			(904	)			24,590				90,573
Structures							23,965				49				(2,471	)			(273	)			16,086				37,356
Machinery							835				—				(94	)			—				5,202				5,943
Ships							2,596,863				199,538				(382,298	)			—				(100,798	)			2,313,305
Vehicles							14,716				21,097				(10,464	)			(1,008	)			1,150				25,491
Others							338,091				13,860				(51,138	)			(302	)			(65,296	)			235,215
		￦					3,711,125				261,862				(536,517	)			(2,613	)			(70,114	)			3,363,743

Summary of Lease liabilities

(4) Lease liabilities as of December 31, 2022 and 2023 are as follows:

						2022				2023
						In millions of won
Less than 1 year		￦					639,756				641,525
1 ~ 5 years							2,047,584				1,898,846
More than 5 years							1,925,012				1,694,729
							4,612,352				4,235,100
Less: Discount							(449,209	)			(427,220	)
Present value of lease payment		￦					4,163,143				3,807,880

Summary of Liquidity Classification of Lease Liabilities

(5) The details of the liquidity classification of lease liabilities as of December 31, 2022 and 2023 are as follows:

						2022				2023
						In millions of won
Current lease liabilities		￦					614,037				612,765
Non-current lease liabilities							3,549,106				3,195,115
		￦					4,163,143				3,807,880

Summary of Changes in lease liabilities

(6) Changes in lease liabilities for the years ended December 31, 2022 and 2023 are as follows:

						2022
						Beginning balance				Increase				Decrease				Interest expenses				Others(*)				Ending balance
						In millions of won
Lease liabilities		￦					4,410,503				109,019				(654,236	)			91,590				206,267				4,163,143

(*) Including translation effect of foreign currency lease liabilities and others.

						2023
						Beginning balance				Increase				Decrease				Interest expenses				Others(*)				Ending balance
						In millions of won
Lease liabilities		￦					4,163,143				253,495				(661,665	)			87,426				(34,519	)			3,807,880

(*) Including translation effect of foreign currency lease liabilities and others.

Summary of Details of Expense Relating to Lease Contracts As Lessee

(7) Details of expense relating to lease contracts as lessee for the years ended December 31, 2022 and 2023 are as follows:

						2022				2023
						In millions of won
Depreciation of right-of-use assets		￦					509,068				536,517
Interest expenses of lease liabilities							91,590				87,426
Leases expenses for short-term leases							235,473				172,711
Leases expenses for leases of low-value assets							3,147				4,659
Variable lease payments							112,158				62,006
		￦					951,436				863,319

Summary of Profit and Loss Related To Finance Lease

(2) Profit and loss related to finance lease for the years ended December 31, 2022 and 2023 are as follows:

						2022				2023
						In millions of won
Finance income on the net investment in the lease		￦					122,355				118,695

Summary of Maturity Analysis of Finance Lease Payments Receivable

(3) Maturity analysis of the lease payments receivable and reconciliation of the undiscounted lease payments to the net investment in the lease as of December 31, 2022 and 2023 are as follows:

						2022				2023
						In millions of won
Less than 1 year		￦					181,930				189,779
1 ~ 2 years							169,693				182,743
2 ~ 3 years							166,787				179,428
3 ~ 4 years							166,196				178,074
4 ~ 5 years							166,965				168,221
More than 5 years							1,527,093				1,408,350
							2,378,664				2,306,595
Less: Unearned finance income							(1,139,274	)			(1,057,434	)
Net investment in the lease (*)		￦					1,239,390				1,249,161

(*) Including the present value of unguaranteed residual value amounting to ￦22,910 million and ￦25,521 million, as of December 31, 2022 and 2023, respectively.

Summary of Changes in Allowance For Doubtful Accounts of Finance Lease Receivables

(4) Changes in the allowance for doubtful accounts of finance lease receivables for the years ended December 31, 2022 and 2023 are as follows:

						2022				2023
						In millions of won
Beginning balance		￦					768				4,505
Bad debt expense							3,737				751
Ending balance		￦					4,505				5,256

X

- Definition

The disclosure of additional information about leasing activities of a lessee.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 16
-IssueDate 2023-01-01
-Paragraph 59
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-Name IFRS
-Number 16
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-Paragraph 92
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The disclosure of a maturity analysis of finance lease payments receivable. Finance lease is a lease that transfers substantially all the risks and rewards incidental to ownership of an underlying asset.

+ References

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-Name IFRS
-Number 16
-IssueDate 2023-01-01
-Paragraph 94
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