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Government Grants (Tables) | 12 Months Ended
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Dec. 31, 2024
Government grants [Abstract] |
Summary of Government Grants |
(1) | Government grants as of December 31, 2023 and 2024 are as follows:
|  |  |  |  | 2023 |  |  | 2024 |
|  |  |  |  | In millions of won |
Land |  |  | ￦ |  |  |  | 27,404 |  |  |  | 27,403 |
Buildings |  |  |  |  |  |  | 46,227 |  |  |  | 41,718 |
Structures |  |  |  |  |  |  | 157,881 |  |  |  | 149,737 |
Machinery |  |  |  |  |  |  | 119,824 |  |  |  | 105,546 |
Vehicles |  |  |  |  |  |  | 2,837 |  |  |  | 2,745 |
Equipment |  |  |  |  |  |  | 5,932 |  |  |  | 3,915 |
Tools |  |  |  |  |  |  | 62 |  |  |  | 1,306 |
Construction-in-progress |  |  |  |  |  |  | 173,474 |  |  |  | 223,566 |
Investment properties |  |  |  |  |  |  | 22 |  |  |  | 22 |
Software |  |  |  |  |  |  | 413 |  |  |  | 844 |
Development expenditures |  |  |  |  |  |  | 2,121 |  |  |  | 939 |
Intangible assets under development |  |  |  |  |  |  | 2,458 |  |  |  | 3,473 |
Other intangible assets |  |  |  |  |  |  | 322 |  |  |  | 229 |
|  |  | ￦ |  |  |  | 538,977 |  |  |  | 561,443 |
Summary of Changes in Government Grants |
(2) | Changes in government grants for the years ended December 31, 2023 and 2024 are as follows:
|  |  |  |  | 2023 |
|  |  |  |  | Beginning balance |  |  | Receipt |  |  | Acquisition |  |  | Offset the items of depreciation expense and others |  |  | Disposal |  |  | Revenue |  |  | Others |  |  | Ending balance |
|  |  |  |  | In millions of won |
Cash |  | ￦ |  |  |  |  | — |  |  |  | 57,207 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 239 |  |  |  | (57,446 | ) |  |  | — |
Land |  |  |  |  |  |  | 27,405 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | 27,404 |
Buildings |  |  |  |  |  |  | 50,437 |  |  |  | — |  |  |  | — |  |  |  | (5,070 | ) |  |  | — |  |  |  | — |  |  |  | 860 |  |  |  | 46,227 |
Structures |  |  |  |  |  |  | 165,608 |  |  |  | — |  |  |  | — |  |  |  | (9,562 | ) |  |  | (1,611 | ) |  |  | — |  |  |  | 3,446 |  |  |  | 157,881 |
Machinery |  |  |  |  |  |  | 127,126 |  |  |  | — |  |  |  | — |  |  |  | (17,413 | ) |  |  | (1,230 | ) |  |  | — |  |  |  | 11,341 |  |  |  | 119,824 |
Vehicles |  |  |  |  |  |  | 2,045 |  |  |  | — |  |  |  | — |  |  |  | (960 | ) |  |  | — |  |  |  | — |  |  |  | 1,752 |  |  |  | 2,837 |
Equipment |  |  |  |  |  |  | 6,608 |  |  |  | — |  |  |  | — |  |  |  | (2,011 | ) |  |  | — |  |  |  | — |  |  |  | 1,335 |  |  |  | 5,932 |
Tools |  |  |  |  |  |  | 99 |  |  |  | — |  |  |  | — |  |  |  | (38 | ) |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 62 |
Construction-in-progress |  |  |  |  |  |  | 135,926 |  |  |  | — |  |  |  | (5,544 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 43,092 |  |  |  | 173,474 |
Investment properties |  |  |  |  |  |  | 21 |  |  |  | — |  |  |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | 22 |
Software |  |  |  |  |  |  | 174 |  |  |  | — |  |  |  | — |  |  |  | (85 | ) |  |  | — |  |  |  | — |  |  |  | 324 |  |  |  | 413 |
Development expenditures |  |  |  |  |  |  | 3,477 |  |  |  | — |  |  |  | — |  |  |  | (1,356 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,121 |
Intangible assets under development |  |  |  |  |  |  | 2,108 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 350 |  |  |  | 2,458 |
Other intangible assets |  |  |  |  |  |  | 67 |  |  |  | — |  |  |  | — |  |  |  | (93 | ) |  |  | — |  |  |  | — |  |  |  | 348 |  |  |  | 322 |
|  | ￦ |  |  |  |  | 521,101 |  |  |  | 57,207 |  |  |  | (5,544 | ) |  |  | (36,589 | ) |  |  | (2,842 | ) |  |  | 239 |  |  |  | 5,405 |  |  |  | 538,977 |
|  |  |  |  | 2024 |
|  |  |  |  | Beginning balance |  |  | Receipt |  |  | Acquisition |  |  | Offset the items of depreciation expense and others |  |  | Disposal |  |  | Revenue |  |  | Others |  |  | Ending balance |
|  |  |  |  | In millions of won |
Cash |  | ￦ |  |  |  |  | — |  |  |  | 59,503 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,789 |  |  |  | (64,292 | ) |  |  | — |
Land |  |  |  |  |  |  | 27,404 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | 27,403 |
Buildings |  |  |  |  |  |  | 46,227 |  |  |  | — |  |  |  | — |  |  |  | (4,508 | ) |  |  | — |  |  |  | — |  |  |  | (1 | ) |  |  | 41,718 |
Structures |  |  |  |  |  |  | 157,881 |  |  |  | — |  |  |  | — |  |  |  | (9,458 | ) |  |  | (1,330 | ) |  |  | — |  |  |  | 2,644 |  |  |  | 149,737 |
Machinery |  |  |  |  |  |  | 119,824 |  |  |  | — |  |  |  | — |  |  |  | (16,076 | ) |  |  | (522 | ) |  |  | — |  |  |  | 2,320 |  |  |  | 105,546 |
Vehicles |  |  |  |  |  |  | 2,837 |  |  |  | — |  |  |  | — |  |  |  | (1,233 | ) |  |  | (8 | ) |  |  | — |  |  |  | 1,149 |  |  |  | 2,745 |
Equipment |  |  |  |  |  |  | 5,932 |  |  |  | — |  |  |  | — |  |  |  | (2,118 | ) |  |  | — |  |  |  | — |  |  |  | 101 |  |  |  | 3,915 |
Tools |  |  |  |  |  |  | 62 |  |  |  | — |  |  |  | — |  |  |  | (341 | ) |  |  | — |  |  |  | — |  |  |  | 1,585 |  |  |  | 1,306 |
Construction-in-progress |  |  |  |  |  |  | 173,474 |  |  |  | — |  |  |  | (6,806 | ) |  |  | — |  |  |  | (75 | ) |  |  | — |  |  |  | 56,973 |  |  |  | 223,566 |
Investment properties |  |  |  |  |  |  | 22 |  |  |  | — |  |  |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 22 |
Software |  |  |  |  |  |  | 413 |  |  |  | — |  |  |  | — |  |  |  | (229 | ) |  |  | — |  |  |  | — |  |  |  | 660 |  |  |  | 844 |
Development expenditures |  |  |  |  |  |  | 2,121 |  |  |  | — |  |  |  | — |  |  |  | (1,364 | ) |  |  | — |  |  |  | — |  |  |  | 182 |  |  |  | 939 |
Intangible assets under development |  |  |  |  |  |  | 2,458 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,015 |  |  |  | 3,473 |
Other intangible assets |  |  |  |  |  |  | 322 |  |  |  | — |  |  |  | — |  |  |  | (93 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 229 |
|  | ￦ |  |  |  |  | 538,977 |  |  |  | 59,503 |  |  |  | (6,806 | ) |  |  | (35,421 | ) |  |  | (1,936 | ) |  |  | 4,789 |  |  |  | 2,337 |  |  |  | 561,443 |
Summary of Changes in Government Grants for Specific Business Projects |
(3) | Changes in government grants for specific business projects for the years ended December 31, 2023 and 2024 are as follows:
|  |  |  |  |  |  |  |  |  |  | 2023 |
Department |  | Business Name |  | Description |  | Period |  | Budget |  |  | Beginning Balance |  |  | Received |  |  | Interest |  |  | Used |  |  | Return |  |  | Others |  |  | Ending Balance |
|  |  |  |  |  |  |  | In millions of won |
Ministry of Trade, Industry and Energy |  | Temporary electricity bill support for small business owners |  | Temporary electricity bill support for small business owners |  | 2021.04.01 ~ 2022.06.30 |  |  | 211,235 |  |  |  | 1,120 |  |  |  | — |  |  |  | — |  |  |  | (51 | ) |  |  | — |  |  |  | — |  |  |  | 1,069 |
Ministry of Trade, Industry and Energy |  | Construction of the Integrated Control System for Renewable Energy in Transmission Area |  | Construction of the Integrated Control System for Renewable Energy in Transmission Area |  | 2022.01.01 ~ 2023.09.30 |  |  | 940 |  |  |  | — |  |  |  | 798 |  |  |  | — |  |  |  | (798 | ) |  |  | — |  |  |  | — |  |  |  | — |
Ministry of Trade, Industry and Energy |  | 2023 Electricity supply business in rural areas (New Electricity Supply Construction Fees) |  | Electricity supply business in rural areas (New Electricity Supply Construction Fees) |  | 2023.01.01 ~ 2024.01.31 |  |  | 2 |  |  |  | — |  |  |  | 35 |  |  |  | — |  |  |  | (35 | ) |  |  | — |  |  |  | — |  |  |  | — |
Ministry of Trade, Industry and Energy |  | 2023 Electricity supply business in rural areas (Reservation of Financial Loans) |  | Electricity supply business in rural areas (Reservation of Financial Loans) |  | 2023.01.01 ~ 2024.01.31 |  |  | 166 |  |  |  | — |  |  |  | 166 |  |  |  | — |  |  |  | (166 | ) |  |  | — |  |  |  | — |  |  |  | — |
Ministry of Trade, Industry and Energy |  | 2023 Electricity supply business in rural areas (Support for operational deficits of electricity providers) |  | Electricity supply business in rural areas (Support for operational deficits of electricity providers) |  | 2023.01.01 ~ 2024.01.31 |  |  | 158,275 |  |  |  | — |  |  |  | 149,259 |  |  |  | — |  |  |  | (149,259 | ) |  |  | — |  |  |  | — |  |  |  | — |
Ministry of Trade, Industry and Energy |  | 2023 Electricity supply business in rural areas (Technical support for local governments and residents) |  | Electricity supply business in rural areas (Technical support for local governments and residents) |  | 2023.01.01 ~ 2024.01.31 |  |  | 1,176 |  |  |  | — |  |  |  | 1,862 |  |  |  | — |  |  |  | (1,862 | ) |  |  | — |  |  |  | — |  |  |  | — |
Ministry of Trade, Industry and Energy |  | 2023 Electricity supply business in rural areas (Support for Losses in Local Government Operations) |  | Electricity supply business in rural areas (Support for Losses in Local Government Operations) |  | 2023.01.01 ~ 2024.01.31 |  |  | 12,036 |  |  |  | — |  |  |  | 8,619 |  |  |  | — |  |  |  | (8,619 | ) |  |  | — |  |  |  | — |  |  |  | — |
Ministry of Trade, Industry and Energy |  | 2023 Establishment of eco-friendly microgrid in island areas |  | Establishment of eco-friendly microgrid in island areas |  | 2023.01.01 ~ 2024.01.31 |  |  | 3,871 |  |  |  | — |  |  |  | 26,091 |  |  |  | — |  |  |  | (26,091 | ) |  |  | — |  |  |  | — |  |  |  | — |
Ministry of Trade, Industry and Energy |  | 2023 Operating expenses for regional projects around the power plant |  | Operating expenses for regional projects around the power plant |  | 2023.01.01 ~ 2023.12.31 |  |  | 361 |  |  |  | — |  |  |  | 51 |  |  |  | — |  |  |  | (51 | ) |  |  | — |  |  |  | — |  |  |  | — |
Ministry of Trade, Industry and Energy |  | 2023 Renewable Energy Generation Difference Support |  | Renewable Energy Generation Difference Support |  | 2023.01.01 ~ 2023.12.31 |  |  | 78,311 |  |  |  | — |  |  |  | 69,599 |  |  |  | — |  |  |  | (69,599 | ) |  |  | — |  |  |  | — |  |  |  | — |
Ministry of Trade, Industry and Energy |  | Energy Cashback |  | Energy Cashback |  | 2023.01.01 ~ 2023.12.31 |  |  | 2,560 |  |  |  | — |  |  |  | 2,560 |  |  |  | — |  |  |  | (2,560 | ) |  |  | — |  |  |  | — |  |  |  | — |
Ministry of Trade, Industry and Energy |  | Safety inspection of general electrical equipment |  | Safety inspection of general electrical equipment |  | 2023.01.01 ~ 2023.04.18 |  |  | 495 |  |  |  | — |  |  |  | 635 |  |  |  | — |  |  |  | (635 | ) |  |  | — |  |  |  | — |  |  |  | — |
Ministry of Trade, Industry and Energy |  | Establishment of Integrated Control System for Renewable Energy in the power distribution sector |  | Establishment of Integrated Control System for Renewable Energy in the Power Distribution Sector |  | 2023.01.01 ~ 2023.12.31 |  |  | 2,510 |  |  |  | — |  |  |  | 680 |  |  |  | 2 |  |  |  | (680 | ) |  |  | (1,832 | ) |  |  | 1,832 |  |  |  | 2 |
Ministry of Employment and Labor |  | Support for the installation of workplace daycare centers |  | Support for the installation of workplace daycare centers |  | 2023.01.01 ~ 2023.12.31 |  |  | 1,491 |  |  |  | — |  |  |  | 270 |  |  |  | — |  |  |  | (270 | ) |  |  | — |  |  |  | — |  |  |  | — |
|  |  |  |  |  |  |  |  |  |  | 2024 |
Department |  | Business Name |  | Description |  | Period |  | Budget |  |  | Beginning Balance |  |  | Received |  |  | Interest |  |  | Used |  |  | Return |  |  | Others |  |  | Ending Balance |
|  |  |  |  |  |  |  | In millions of won |
Ministry of Trade, Industry and Energy |  | Temporary electricity bill support for small business owners |  | Temporary electricity bill support for small business owners |  | 2021.04.01 ~ 2022.06.30 |  |  | 211,235 |  |  |  | 1,069 |  |  |  | — |  |  |  | — |  |  |  | (791 | ) |  |  | (278 | ) |  |  | — |  |  |  | — |
Ministry of Employment and Labor |  | Support for the installation of workplace daycare centers |  | Support for the installation of workplace daycare centers |  | 2023.01.01 ~ 2023.12.31 |  |  | 1,491 |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1 |
Ministry of Trade, Industry and Energy |  | Support for underground power line installation |  | Daebul Industrial Complex Underground Power Line Project (Phase 1) (Subsidy) |  | 2023.12.01 ~ 2025.12.31 |  |  | 3,492 |  |  |  | — |  |  |  | 3,492 |  |  |  | — |  |  |  | (3,492 | ) |  |  | — |  |  |  | — |  |  |  | — |
Ministry of Trade, Industry and Energy |  | Construction of the Integrated Control System for Renewable Energy in Transmission Area |  | Construction of the Integrated Control System for Renewable Energy in Transmission Area |  | 2023.01.01 ~ 2023.12.31 |  |  | 490 |  |  |  | — |  |  |  | 213 |  |  |  | — |  |  |  | (213 | ) |  |  | — |  |  |  | — |  |  |  | — |
Ministry of Trade, Industry and Energy |  | Construction of the Integrated Control System for Renewable Energy in Power Distribution Sector |  | Construction of the Integrated Control System for Renewable Energy in Power Distribution Sector |  | 2023.01.01 ~ 2023.12.31 |  |  | 2,510 |  |  |  | 2 |  |  |  | 203 |  |  |  | — |  |  |  | (205 | ) |  |  | — |  |  |  | — |  |  |  | — |
Ministry of SMEs and Startup |  | Temporary electricity bill support for small business owners |  | Temporary electricity bill support for small business owners (2024) |  | 2024.02.15 ~ 2024.12.31 |  |  | 178,753 |  |  |  | — |  |  |  | 156,058 |  |  |  | — |  |  |  | (127,984 | ) |  |  | — |  |  |  | — |  |  |  | 28,074 |
Ministry of Trade, Industry and Energy |  | Electricity supply business in rural areas |  | Electricity supply business in rural areas (Support for Losses in Local Government Operations) |  | 2024.01.01 ~ 2024.12.31 |  |  | 161,429 |  |  |  | — |  |  |  | 170,276 |  |  |  | — |  |  |  | (170,276 | ) |  |  | — |  |  |  | — |  |  |  | — |
Ministry of Trade, Industry and Energy |  | Renewable Energy Generation Difference Support |  | Renewable Energy Generation Difference Support (2024) |  | 2024.01.01 ~ 2024.12.31 |  |  | 52,170 |  |  |  | — |  |  |  | 51,413 |  |  |  | — |  |  |  | (51,413 | ) |  |  | — |  |  |  | — |  |  |  | — |
Ministry of Trade, Industry and Energy |  | Operating expenses for regional projects around the power plant |  | Operating expenses for regional projects around the power plant (2024) |  | 2024.01.02 ~ 2024.12.31 |  |  | 428 |  |  |  | — |  |  |  | 61 |  |  |  | — |  |  |  | (61 | ) |  |  | — |  |  |  | — |  |  |  | — |

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