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Investments in Associates and Joint Ventures (Tables) | 12 Months Ended
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Dec. 31, 2017
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Summary of Details of Associates | Details of associates as of December 31, 2017, are as follows:
|  | Percentage of ownership (%) |  |  | Location |  | Date of financial statements |
|  | 2016 |  |  | 2017 |  |  |  |  |  |
Korea Information & Technology Fund |  |  | 33.3 | % |  |  | 33.3 | % |  | Korea |  |  | 31-Dec |
KT-SB Venture Investment1 |  |  | 50.0 | % |  |  | 50.0 | % |  | Korea |  |  | 31-Dec |
Mongolian Telecommunications1 |  |  | 40.0 | % |  |  | — |  |  | Mongolia |  |  | 31-Dec |
KT Wibro Infra Co., Ltd. |  |  | 26.2 | % |  |  | — |  |  | Korea |  |  | 31-Dec |
KT-IBKC Future Investment Fund 11 |  |  | 50.0 | % |  |  | 50.0 | % |  | Korea |  |  | 31-Dec |
KT-CKP New Media Investment Fund |  |  | 49.7 | % |  |  | 49.7 | % |  | Korea |  |  | 31-Dec |
K Bank Inc.1 |  |  | — |  |  |  | 10.0 | % |  | Korea |  |  | 31-Dec |
1 | At the end of the reporting period, even though the Group (KT-SB Venture Investment Fund and KT-IBKC Future Investment Fund 1) has 50% ownership, the equity method of accounting has been applied as the Group, which is a limited partner of investment fund, cannot participate in determining the operating and financial policies. As of December 31, 2017, the entire shares of Mongolian Telecommunications is classified as assets held for sale, and KT Wibro Infra Co., Ltd. was liquidated during 2017. Also, 8% of non-voting convertible stock are excluded from percentage of ownership for K bank Inc.
Summary of Changes in Investments in Associates and Joint Ventures | Changes in investments in associates and joint ventures for the years ended December 31, 2016 and 2017, are as follows:
|  | 2016 |
(In millions of Korean won) |  | Beginning |  |  | Acquisition (Disposal) |  |  | Share of net profit from associates and joint ventures1 |  |  | Impairment |  |  | Others |  |  | Ending |
Korea Information & Technology Fund |  | ￦ | 127,583 |  |  | ￦ | — |  |  | ￦ | 7,446 |  |  | ￦ | — |  |  | ￦ | (60 | ) |  | ￦ | 134,969 |
KT-SB Venture Investment |  |  | 4,861 |  |  |  | — |  |  |  | (125 | ) |  |  | — |  |  |  | — |  |  |  | 4,736 |
Mongolian Telecommunications |  |  | 7,483 |  |  |  | — |  |  |  | 32 |  |  |  | — |  |  |  | (1,271 | ) |  |  | 6,244 |
KT Wibro Infra Co., Ltd. |  |  | 69,328 |  |  |  | — |  |  |  | — |  |  |  | (17,128 | ) |  |  | — |  |  |  | 52,200 |
KT-CKP New Media Investment Fund |  |  | 3,860 |  |  |  | — |  |  |  | 594 |  |  |  | — |  |  |  | — |  |  |  | 4,454 |
Others |  |  | 56,914 |  |  |  | 29,052 |  |  |  | (5,400 | ) |  |  | — |  |  |  | 906 |  |  |  | 81,472 |
|  | ￦ | 270,029 |  |  | ￦ | 29,052 |  |  | ￦ | 2,547 |  |  | ￦ | (17,128 | ) |  | ￦ | (425 | ) |  | ￦ | 284,075 |
|  | 2017 |
(In millions of Korean won) |  | Beginning |  |  | Acquisition (Disposal) |  |  | Share of net profit from associates and joint ventures1 |  |  | Impairment |  |  | Others |  |  | Ending |
Korea Information & Technology Fund |  | ￦ | 134,969 |  |  | ￦ | — |  |  | ￦ | 4,275 |  |  | ￦ | — |  |  | ￦ | 290 |  |  | ￦ | 139,534 |
KT-SB Venture Investment |  |  | 4,736 |  |  |  | (1,069 | ) |  |  | (725 | ) |  |  | — |  |  |  | — |  |  |  | 2,942 |
Mongolian Telecommunications |  |  | 6,244 |  |  |  | — |  |  |  | (348 | ) |  |  | — |  |  |  | (5,896 | ) |  |  | — |
KT Wibro Infra Co., Ltd. |  |  | 52,200 |  |  |  | (52,200 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
KT-IBKC Future Investment Fund 1 |  |  | 3,621 |  |  |  | 7,500 |  |  |  | (296 | ) |  |  | — |  |  |  | — |  |  |  | 10,825 |
KT-CKP New Media Investment Fund |  |  | 4,454 |  |  |  | (2,970 | ) |  |  | 810 |  |  |  | — |  |  |  | — |  |  |  | 2,294 |
K Bank Inc. |  |  | — |  |  |  | 26,543 |  |  |  | (17,244 | ) |  |  | — |  |  |  | 32,809 |  |  |  | 42,108 |
Others |  |  | 77,851 |  |  |  | 3,178 |  |  |  | (1,952 | ) |  |  | (3,662 | ) |  |  | 6,313 |  |  |  | 81,728 |
|  | ￦ | 284,075 |  |  | ￦ | (19,018 | ) |  | ￦ | (15,480 | ) |  | ￦ | (3,662 | ) |  | ￦ | 33,516 |  |  | ￦ | 279,431 |
1 | KT investment Co., Ltd., a subsidiary of the Group, recognized its share in net profit from associates and joint ventures as operating revenue and expense. These include its share in gain from associates and joint ventures of ￦1,588 million (2016: ￦52 million) recognized as operating income during the period.
Summary of Financial Information of Associates and Joint Ventures | Summarized financial information of associates and joint ventures as of and for the years ended December 31, 2016 and 2017, is as follows:
(In millions of Korean won) |  | 2016 |
|  | Current assets |  |  | Non-current assets |  |  | Current liabilities |  |  | Non-current liabilities |
Korea Information & Technology Fund |  | ￦ | 154,651 |  |  | ￦ | 250,257 |  |  | ￦ | — |  |  | ￦ | — |
KT-SB Venture Investment |  |  | 1,009 |  |  |  | 8,704 |  |  |  | 242 |  |  |  | — |
Mongolian Telecommunications |  |  | 9,852 |  |  |  | 9,055 |  |  |  | 3,296 |  |  |  | — |
KT Wibro Infra Co., Ltd. |  |  | 274,811 |  |  |  | 6 |  |  |  | 4,996 |  |  |  | 52 |
KT-CKP New Media Investment Fund |  |  | 1,801 |  |  |  | 7,170 |  |  |  | 4 |  |  |  | — |
(In millions of Korean won) |  | 2016 |
|  | Operating revenue |  |  | Profit (loss) for the year |  |  | Other comprehensive income |  |  | Total comprehensive income |  |  | Dividend received from associates |
Korea Information & Technology Fund |  | ￦ | 26,942 |  |  | ￦ | 22,338 |  |  | ￦ | (9,425 | ) |  | ￦ | 12,913 |  |  | ￦ | 3,201 |
KT-SB Venture Investment |  |  | 2 |  |  |  | (251 | ) |  |  | — |  |  |  | (251 | ) |  |  | — |
Mongolian Telecommunications |  |  | 10,336 |  |  |  | 81 |  |  |  | 3,178 |  |  |  | 3,259 |  |  |  | — |
KT Wibro Infra Co., Ltd. |  |  | 391 |  |  |  | 5,025 |  |  |  | — |  |  |  | 5,025 |  |  |  | — |
KT-CKP New Media Investment Fund |  |  | 1,684 |  |  |  | 1,195 |  |  |  | — |  |  |  | 1,195 |  |  |  | — |
(In millions of Korean won) |  | 2017 |
|  | Current assets |  |  | Non-current assets |  |  | Current liabilities |  |  | Non-current liabilities |
Korea Information & Technology Fund |  | ￦ | 144,874 |  |  | ￦ | 273,727 |  |  | ￦ | — |  |  | ￦ | — |
KT-SB Venture Investment |  |  | 120 |  |  |  | 5,770 |  |  |  | 6 |  |  |  | — |
KT-IBKC Future Investment Fund 1 |  |  | 5,499 |  |  |  | 16,302 |  |  |  | 152 |  |  |  | — |
KT-CKP New Media Investment Fund |  |  | 287 |  |  |  | 4,333 |  |  |  | — |  |  |  | — |
K Bank Inc. |  |  | 1,258,969 |  |  |  | 92,137 |  |  |  | 1,116,154 |  |  |  | 1,177 |
(In millions of Korean won) |  | 2017 |
|  | Operating revenue |  |  | Profit (loss) for the year |  |  | Other comprehensive income |  |  | Total comprehensive income |  |  | Dividend received from associates |
Korea Information & Technology Fund |  | ￦ | 36,462 |  |  | ￦ | 12,825 |  |  | ￦ | 1,868 |  |  | ￦ | 14,693 |  |  | ￦ | 739 |
KT-SB Venture Investment |  |  | 3 |  |  |  | (1,449 | ) |  |  | — |  |  |  | (1,449 | ) |  |  | — |
KT-IBKC Future Investment Fund 1 |  |  | 15 |  |  |  | (593 | ) |  |  | — |  |  |  | (593 | ) |  |  | — |
KT-CKP New Media Investment Fund |  |  | 1,593 |  |  |  | 1,632 |  |  |  | — |  |  |  | 1,632 |  |  |  | — |
K Bank Inc. |  |  | 20,926 |  |  |  | (83,787 | ) |  |  | (746 | ) |  |  | (84,533 | ) |  |  | — |
Summary of Reconciliation of Carrying Amount of Interests in the Associates and Joint Ventures | Details of a reconciliation of the summarized financial information to the carrying amount of interests in the associates and joint ventures as of and for the years end December 31, 2016 and 2017, are as follows:
|  | 2016 |
(In millions of Korean won) |  | Net assets |  |  | Percentage of ownership |  |  | Share in net assets |  |  | Intercompany transaction and others |  |  | Carrying amount |
Korea Information & Technology Fund |  | ￦ | 404,908 |  |  |  | 33.3 | % |  | ￦ | 134,969 |  |  | ￦ | — |  |  | ￦ | 134,969 |
KT-SB Venture Investment |  |  | 9,471 |  |  |  | 50.0 | % |  |  | 4,736 |  |  |  | — |  |  |  | 4,736 |
Mongolian Telecommunications |  |  | 15,610 |  |  |  | 40.0 | % |  |  | 6,244 |  |  |  | — |  |  |  | 6,244 |
KT Wibro Infra Co., Ltd. |  |  | 269,769 |  |  |  | 26.2 | % |  |  | 70,679 |  |  |  | (18,479 | ) |  |  | 52,200 |
KT-CKP New Media Investment Fund |  |  | 8,967 |  |  |  | 49.7 | % |  |  | 4,454 |  |  |  | — |  |  |  | 4,454 |
|  | 2017 |
(In millions of Korean won) |  | Net assets |  |  | Percentage of ownership |  |  | Share in net assets |  |  | Intercompany transaction and others |  |  | Carrying amount |
Korea Information & Technology Fund |  | ￦ | 418,601 |  |  |  | 33.3 | % |  | ￦ | 139,534 |  |  | ￦ | — |  |  | ￦ | 139,534 |
KT-SB Venture Investment |  |  | 5,884 |  |  |  | 50.0 | % |  |  | 2,942 |  |  |  | — |  |  |  | 2,942 |
KT-IBKC Future Investment Fund 1 |  |  | 21,649 |  |  |  | 50.0 | % |  |  | 10,825 |  |  |  | — |  |  |  | 10,825 |
KT-CKP New Media Investment Fund |  |  | 4,620 |  |  |  | 49.7 | % |  |  | 2,294 |  |  |  | — |  |  |  | 2,294 |
K Bank Inc.1 |  |  | 233,775 |  |  |  | 10.0 | % |  |  | 42,108 |  |  |  | — |  |  |  | 42,108 |
1 | 8% of non-voting convertible stock are excluded from percentage of ownership for K bank Inc

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