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Employment Benefits (Tables)
12 Months Ended
Dec. 31, 2024
Disclosure of information about defined benefit plans [abstract]  
Summary of Employment Benefits
(1)
Employment benefit obligations as of December 31, 2023 and 2024 are as follows:
 
           
2023
    
2024
 
           
In millions of won
 
Net defined benefit asset
          70,187        40,425  
Net defined benefit obligations
         1,033,409          1,449,837   
Other long-term employee benefit obligations
        1,911        1,710  
Summary of Principal Assumptions on Actuarial Valuation
(2)
Principal assumptions used for actuarial valuation as of December 31, 2023 and 2024 are as follows:
 
    
2023
  
2024
Discount rate
   4.06%~5.44%    3.38%~5.06%
Future salary and benefit levels
   4.82%    4.83%
Weighted average duration
   9.52 years    9.89 years
Summary of Expense Relating to defined Benefit Plans
(3)
Details of expense relating to defined benefit plans for the years ended December 31, 2022, 2023 and 2024 are as follows:
 
           
2022
    
2023
    
2024
 
           
In millions of won
 
Current service cost
          496,722        373,802        430,308  
Interest cost
        116,256        190,257        184,169  
Expected return on plan assets
        (73,484      (163,074      (141,108
Past service cost
        125        —         —   
     
 
 
    
 
 
    
 
 
 
          539,619        400,985        473,369  
     
 
 
    
 
 
    
 
 
 
Expenses described above are recognized in those items below in the consolidated financial statements.
 
           
2022
    
2023
    
2024
 
           
In millions of won
 
Cost of sales
          404,243         285,209          340,165   
Selling and administrative expenses
         81,457         73,521        87,815  
Others
(Construction-in-progress
and others)
        53,919        42,255        45,389  
     
 
 
    
 
 
    
 
 
 
          539,619        400,985        473,369  
     
 
 
    
 
 
    
 
 
 
Summary of Defined Benefits
(4)
Details of defined benefit obligations as of December 31, 2023 and 2024 are as follows:
 
           
2023
    
2024
 
           
In millions of won
 
Present value of defined benefit obligation from funded plans
          4,312,702        4,960,645  
Fair value of plan assets
        (3,349,480      (3,551,233
     
 
 
    
 
 
 
Net liabilities incurred from defined benefit plans
          963,222        1,409,412  
     
 
 
    
 
 
 
Summary of Changes in the Present Value of Defined Benefits
(5)
Changes in the present value of defined benefit obligations for the years ended December 31, 2023 and 2024 are as follows:
 
           
2023
    
2024
 
           
In millions of won
 
Beginning balance
           3,776,715          4,312,702   
Current service cost
        373,802        430,308  
Interest cost
        190,257        184,169  
Remeasurement component
        409,635        425,671  
Past service cost
        —         —   
Actual payments
        (437,734      (392,336
Others
        27        131  
     
 
 
    
 
 
 
Ending balance
          4,312,702        4,960,645  
     
 
 
    
 
 
 
Summary of Changes in the Fair Value of Plan Assets
(6)
Changes in the fair value of plan assets for the years ended December 31, 2023 and 2024 are as follows:
 
           
2023
    
2024
 
           
In millions of won
 
Beginning balance
           3,149,414          3,349,480   
Expected return
        163,074        141,108  
Remeasurement component
        4,777        (10,030
Contributions by the employers
        188,566        254,763  
Actual payments
        (156,351      (184,088
     
 
 
    
 
 
 
Ending balance
          3,349,480        3,551,233  
     
 
 
    
 
 
 
Summary of the Fair Value of Plan Assets
(7)
Details of the fair value of plan assets as of December 31, 2023 and 2024 are as follows:
 
           
2023
    
2024
 
           
In millions of won
 
Equity instruments
          5,326        2,308  
Debt instruments
        697,907        413,522  
Bank deposits
        611,821        452,158  
Others(*)
        2,034,426        2,683,245  
     
 
 
    
 
 
 
          3,349,480       3,551,233   
     
 
 
    
 
 
 
 
  (*)
‘Others’ consist of various financial assets managed by external asset management companies.
Summary of Remeasurement Components Recognized in Other Comprehensive Income (loss)
(8)
Remeasurement components recognized in other comprehensive income (loss) for the years ended December 31, 2023 and 2024 are as follows:
 
           
2023
    
2024
 
           
In millions of won
 
Actuarial gain from changes in financial assumptions
             429,810            320,582   
Experience adjustments, etc.
        (20,175      105,089  
Expected return
        (4,777      10,030  
     
 
 
    
 
 
 
          404,858      435,701