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Trade and Other Receivables

12 Months Ended

Dec. 31, 2024

Trade and other receivables [abstract]

8.	Trade and Other Receivables

(1)	Trade and other receivables as of December 31, 2023 and 2024 are as follows:


		2023
		Gross amount		Allowance for doubtful accounts			Present value discount			Book value
		In millions of won
Current assets
Trade receivables	￦		11,239,601		(230,058	)		—			11,009,543
Other receivables			1,034,655		(53,683	)		(4,780	)		976,192

			12,274,256		(283,741	)		(4,780	)		11,985,735

Non-current assets
Trade receivables			207,668		(2,587	)		—			205,081
Other receivables			2,080,830		(80,270	)		(12,054	)		1,988,506

			2,288,498		(82,857	)		(12,054	)		2,193,587

	￦		14,562,754		(366,598	)		(16,834	)		14,179,322


		2024
		Gross amount		Allowance for doubtful accounts			Present value discount			Book value
		In millions of won
Current assets
Trade receivables	￦		11,266,202		(167,028	)		—			11,099,174
Other receivables			1,160,945		(39,817	)		(4,086	)		1,117,042

			12,427,147		(206,845	)		(4,086	)		12,216,216

Non-current assets
Trade receivables			1,089,787		(93,746	)		—			996,041
Other receivables			2,272,127		(100,351	)		(10,408	)		2,161,368

			3,361,914		(194,097	)		(10,408	)		3,157,409

	￦		15,789,061		(400,942	)		(14,494	)		15,373,625

(2)	Other receivables as of December 31, 2023 and 2024 are as follows:


		2023
		Gross amount		Allowance for doubtful accounts			Present value discount			Book value
		In millions of won
Current assets
Non-trade receivables	￦		393,859		(49,626	)		(53	)		344,180
Accrued income			133,033		—			—			133,033
Deposits			317,541		(4	)		(4,727	)		312,810
Finance lease receivables (*1)			75,661		(2,761	)		—			72,900
Others			114,561		(1,292	)		—			113,269

			1,034,655		(53,683	)		(4,780	)		976,192

Non-current assets
Non-trade receivables			198,453		(54,182	)		(102	)		144,169
Accrued income			7,342		—			—			7,342
Deposits			441,721		(263	)		(11,952	)		429,506
Finance lease receivables (*2)			1,173,500		(2,495	)		—			1,171,005
Others			259,814		(23,330	)		—			236,484

			2,080,830		(80,270	)		(12,054	)		1,988,506

	￦		3,115,485		(133,953	)		(16,834	)		2,964,698

(1) Gross amount of finance lease receivables is the net lease investment by deducting unearned finance income of ￦114,118 million. (2) Gross amount of finance lease receivables is the net lease investment by deducting unearned finance income of ￦943,316 million.
		2024
		Gross amount		Allowance for doubtful accounts			Present value discount			Book value
		In millions of won
Current assets
Non-trade receivables	￦		403,248		(35,041	)		(21	)		368,186
Accrued income			112,941		—			—			112,941
Deposits			293,712		(4	)		(4,065	)		289,643
Finance lease receivables (*1)			92,130		(3,480	)		—			88,650
Others			258,914		(1,292	)		—			257,622

			1,160,945		(39,817	)		(4,086	)		1,117,042

Non-current assets
Non-trade receivables			243,813		(62,222	)		(41	)		181,550
Accrued income			21,395		—			—			21,395
Deposits			486,868		(414	)		(10,367	)		476,087
Finance lease receivables (*2)			1,264,269		(1,775	)		—			1,262,494
Others			255,782		(35,940	)		—			219,842

			2,272,127		(100,351	)		(10,408	)		2,161,368

	￦		3,433,072		(140,168	)		(14,494	)		3,278,410

(*1)

Gross amount of finance lease receivables is the net lease investment by deducting unearned finance income of ￦121,170 million.

(*2)

Gross amount of finance lease receivables is the net lease investment by deducting unearned finance income of ￦956,968 million.

(3)

Trade and other receivables are classified as financial assets at amortized cost and are measured using the effective interest rate method. No interest is accrued for trade receivables related to electricity for the duration between the billing date and the payment due dates. However once trade receivables are overdue, the Company imposes a monthly interest rate of 1.5% on the overdue trade receivables. The Company holds deposits of three months’ expected electricity usage for customers requesting temporary usage and customers with delinquent payments.

(4)	Aging analysis of trade receivables as of December 31, 2023 and 2024 are as follows:


		2023			2024
		In millions of won
Trade receivables: (not overdue)	￦		11,120,582			12,010,590

Trade receivables: (impairment reviewed)			326,687			345,399

Less than 60 days			6,403			12,289
60 ~ 90 days			55,802			59,427
90 ~ 120 days			20,535			21,642
120 days ~ 1 year			58,350			56,107
Over 1 year			185,597			195,934

			11,447,269			12,355,989
Less: allowance for doubtful accounts			(232,645	)		(260,774	)

	￦		11,214,624			12,095,215

At the end of each reporting period, the Company assesses whether the credit to trade receivables is impaired. The Company recognizes loss allowances for trade receivables individually when there is any objective evidence that trade receivables are impaired and significant and classifies the trade receivables that are not individually assessed as the trade receivables subject to be assessed on a collective basis. Also, the Company recognizes loss allowances based on an ‘expected credit loss’ (ECL) model.

(5)	Aging analysis of other receivables as of December 31, 2023 and 2024 are as follows:


		2023			2024
		In millions of won
Other receivables: (not overdue)	￦		2,857,337			3,212,146

Other receivables: (impairment reviewed)			258,148			220,926

Less than 60 days			5			318
60 ~ 90 days			27,634			34,267
90 ~ 120 days			727			1,786
120 days ~ 1 year			69,651			59,567
Over 1 year			160,131			124,988

			3,115,485			3,433,072
Less: allowance for doubtful accounts			(133,953	)		(140,168	)
Less: present value discount			(16,834	)		(14,494	)

	￦		2,964,698			3,278,410

At the end of each reporting period, the Company assesses whether the credit to other receivables is impaired. The Company recognizes loss allowances for other receivables individually when there is any objective evidence that other receivables are impaired and significant, and classifies the other receivables that are not individually assessed as the other receivables subject to be assessed on a collective basis. Also, the Company recognizes loss allowances based on an ‘expected credit loss’ (ECL) model.

(6)	Changes in the allowance for doubtful accounts for the years ended December 31, 2022, 2023 and 2024 are as follows:


		2022						2023						2024
		Trade receivables			Other receivables			Trade receivables			Other receivables			Trade receivables			Other receivables
		In millions of won
Beginning balance	￦		205,339			82,710			199,000			109,453			232,645			133,953
Bad debt expense			27,078			4,220			68,385			24,290			48,160			21,937
Write-off			(26,319	)		(1,103	)		(26,109	)		(4,472	)		(17,157	)		(23,177	)
Reversal			(3,444	)		(37	)		(5,577	)		(1,942	)		(12,928	)		(587	)
Others			(3,654	)		23,663			(3,054	)		6,624			10,054			8,042

Ending balance	￦		199,000			109,453			232,645			133,953			260,774			140,168