Segment, Geographic and Other Information

12 Months Ended

Dec. 31, 2024

Disclosure of operating segments [abstract]

Segment, Geographic and Other Information

4.	Segment, Geographic and Other Information

(1)	Segment determination and explanation of the measurements

The Company’s operating segments are its business components that generate discrete financial information that is reported to and regularly reviewed by chief operating decision makers of the Company including but not limited to the Chief Executive Officer, for the purpose of resource allocation and assessment of segment performance. The Company’s reportable segments are ‘Transmission and distribution’, ‘Electric power generation (Nuclear)’, ‘Electric power generation

(Non-nuclear)’,

‘Plant maintenance & engineering service’ and ‘Others’; others mainly represent the business unit that manages the Company’s foreign operations.

Segment operating profit or loss is determined the same way that consolidated operating profit or loss is determined under IFRS without any adjustment for corporate allocations. The accounting policies used by each segment are consistent with the accounting policies used in the preparation of the consolidated financial statements. Segment assets and liabilities are determined based on separate financial statements of the entities instead of on a consolidated basis. There are various transactions between the reportable segments, including sales of property, plant and equipment and so on, that are conducted on an

arm’s-length

basis at market prices that would be applicable to an independent third party. For subsidiaries which are in a different segment from that of its immediate parent company, their carrying amount in separate financial statements is eliminated in the consolidating adjustments in the tables below. In addition, consolidation adjustments in the table below include adjustments of the amount of investment in associates and joint ventures from the cost basis amount reflected in segment assets to that determined using equity method in the consolidated financial statements.

(2)	Financial information of the segments for the years ended December 31, 2022, 2023 and 2024, respectively, are as follows:


		2022
Segment		Total segment revenue			Intersegment revenue			Revenue from external customers		Depreciation and amortization			Interest income			Interest expense			Profit (loss) related to associates, joint ventures and subsidiaries			Employee benefit expense			Loss on abandonment of property, plant and equipment		Increase in provisions, net			Operating profit (loss)
		In millions of won
Transmission and distribution	￦		68,239,707			1,922,354			66,317,353		4,130,004			67,076			1,420,802			980,146			180,114			157,784		611,534			(33,623,874	)
Electric power generation (Nuclear)			10,386,091			10,254,271			131,820		4,034,774			45,789			557,218			(753	)		82,466			—		624,221			761,109
Electric power generation (Non-nuclear)			41,944,339			39,252,851			2,691,488		4,091,081			53,242			694,559			329,112			140,067			—		619,947			289,001
Plant maintenance & engineering service			2,975,062			2,516,699			458,363		123,168			14,003			1,405			1,886			82,070			—		213,671			239,529
Others			2,750,231			1,803,231			947,000		211,719			195,966			195,860			—			53,017			3,125		9,463			333,547
Consolidation adjustments			(55,749,406	)		(55,749,406	)		—		(129,334	)		(35,323	)		(51,298	)		—			(52,034	)		—		68,143			(239,843	)

	￦		70,546,024			—			70,546,024		12,461,412			340,753			2,818,546			1,310,391			485,700			160,909		2,146,979			(32,240,531	)

Finance income																															1,833,312

Finance expense																															(4,746,791	)

Gain related to associates, joint ventures and subsidiaries																															1,310,391

Loss before income tax																													￦		(33,843,619	)


		2023
Segment		Total segment revenue			Intersegment revenue			Revenue from external customers		Depreciation and amortization			Interest income			Interest expense			Profit (loss) related to associates, joint ventures and subsidiaries			Employee benefit expense			Loss on abandonment of property, plant and equipment		Increase in provisions, net			Operating profit (loss)
		In millions of won
Transmission and distribution	￦		85,082,542			1,728,602			83,353,940		4,258,909			92,380			2,826,916			314,373			127,038			182,742		419,564			(6,153,936	)
Electric power generation (Nuclear)			10,798,378			10,666,260			132,118		4,403,610			69,209			687,743			(2,639	)		62,280			—		585,630			819,838
Electric power generation (Non-nuclear)			35,159,641			32,253,979			2,905,662		4,180,939			65,403			741,282			301,681			109,151			13,863		352,058			929,210
Plant maintenance & engineering service			3,091,022			2,626,190			464,832		129,628			23,638			1,270			(389	)		52,890			—		206,215			355,284
Others			2,175,972			1,556,114			619,858		204,322			226,243			258,877			—			48,105			92		444			89,302
Consolidation adjustments			(48,831,145	)		(48,831,145	)		—		(145,145	)		(47,253	)		(64,429	)		—			(40,734	)		—		47,171			(284,714	)

	￦		87,476,410			—			87,476,410		13,032,263			429,620			4,451,659			613,026			358,730			196,697		1,611,082			(4,245,016	)

Finance income																															1,425,031

Finance expense																															(5,347,018	)

Gain related to associates, joint ventures and subsidiaries																															613,026

Loss before income tax																													￦		(7,553,977	)


		2024
Segment		Total segment revenue			Intersegment revenue			Revenue from external customers		Depreciation and amortization			Interest income			Interest expense			Profit (loss) related to associates, joint ventures and subsidiaries			Employee benefit expense			Loss on abandonment of property, plant and equipment		Increase in provisions, net				Operating profit
		In millions of won
Transmission and distribution	￦		90,825,950			2,217,014			88,608,936		4,368,806			86,889			2,946,080			578,973			156,144			171,134		745,016				3,542,715
Electric power generation (Nuclear)			13,447,880			13,118,098			329,782		5,182,841			72,760			786,491			(20,548	)		68,273			—		343,963				1,442,490
Electric power generation (Non-nuclear)			31,563,589			29,186,796			2,376,793		4,252,872			67,835			704,678			138,347			113,146			2,744		511,174				2,662,597
Plant maintenance & engineering service			3,266,873			2,765,640			501,233		164,749			26,262			7,144			185,548			70,891			—		241,073				417,667
Others			2,283,458			1,521,937			761,521		218,505			271,709			336,718			—			47,039			—		2,409				96,984
Consolidation adjustments			(48,809,485	)		(48,809,485	)		—		(190,418	)		(57,930	)		(116,016	)		—			(27,513	)		21,819		(81,109	)			298,807

	￦		92,578,265			—			92,578,265		13,997,355			467,525			4,665,095			882,320			427,980			195,697		1,762,526				8,461,260

Finance income																																3,448,177

Finance expense																																(7,535,228	)

Gain related to associates, joint ventures and subsidiaries																																882,320

Profit before income tax																														￦		5,256,529

(3)	Information related to segment assets and segment liabilities as of and for the years ended December 31, 2023 and 2024 are as follows:


		2023
Segment		Segment assets			Investments in associates and joint ventures		Acquisition of non-current assets			Segment liabilities
		In millions of won
Transmission and distribution	￦		138,838,342			5,872,000		7,636,677			120,181,250
Electric power generation (Nuclear)			70,535,018			169,155		3,070,528			45,660,916
Electric power generation (Non-nuclear)			66,265,884			3,567,345		3,490,863			38,415,202
Plant maintenance & engineering service			4,271,409			54,088		203,352			1,549,863
Others			13,378,229			—		736,155			6,480,959

Segment totals			293,288,882			9,662,588		15,137,575			212,288,190

Consolidation adjustments:
Elimination of inter-segment amounts			(46,071,077	)		—		(390,686	)		(11,463,805	)
Equity method adjustment			2,997,016			—		—			—
Deferred taxes			1,636			—		—			1,629,280
Others			(10,501,492	)		—		—			(3,450	)

			(53,573,917	)		—		(390,686	)		(9,837,975	)

Consolidated totals	￦		239,714,965			9,662,588		14,746,889			202,450,215


		2024
Segment		Segment assets			Investments in associates and joint ventures		Acquisition of non-current assets			Segment liabilities
		In millions of won
Transmission and distribution	￦		139,472,103			6,839,513		8,417,992			120,083,068
Electric power generation (Nuclear)			72,508,359			171,956		2,629,626			47,082,862
Electric power generation (Non-nuclear)			66,834,569			4,272,928		3,862,287			36,363,754
Plant maintenance & engineering service			4,522,610			1,697		160,978			1,508,112
Others			14,977,126			—		195,451			7,073,716

Segment totals			298,314,767			11,286,094		15,266,334			212,111,512

Consolidation adjustments:
Elimination of inter-segment amounts			(43,890,249	)		—		(185,981	)		(8,819,612	)
Equity method adjustment			4,032,207			—		—			—
Deferred taxes			1,557			—		—			2,152,192
Others			(11,650,487	)		—		—			870

			(51,506,972	)		—		(185,981	)		(6,666,550	)

Consolidated totals	￦		246,807,795			11,286,094		15,080,353			205,444,962

(4)	Geographic information

Electricity sales, the main operations of the Company, are conducted in the Republic of Korea. The following information on revenue from external customers and

non-current

assets is determined by the location of the customers and of the assets:


Geographical unit		Revenue from external customers						Non-current assets (*2)
		2022		2023		2024		2022		2023		2024
		In millions of won
Domestic	￦		69,142,730		86,242,808		91,286,837		183,707,117		186,384,115		191,214,679
Overseas (*1)			1,403,294		1,233,602		1,291,428		4,724,416		4,822,845		4,757,463

	￦		70,546,024		87,476,410		92,578,265		188,431,533		191,206,960		195,972,142

(*1)

Middle East and other Asian countries make up the majority of overseas revenue and

non-current

assets. Since the overseas revenue or

non-current

assets attributable to particular countries are not material, they are not disclosed individually.

(*2)

The amounts exclude financial assets, deferred tax assets, and net defined benefit assets.

(5)	Information on significant customers

There is no single customer which accounts for 10% or more of the Company’s revenue for the years ended December 31, 2022, 2023 and 2024.