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Other Financial Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2017

Text block1 [abstract]

Summary of Other Financial Assets and Liabilities

Details of other financial assets and liabilities as of December 31, 2016 and 2017, are as follows:

(In millions of Korean won)		2016				2017
Other financial assets
Financial assets at fair value through profit or loss		￦	6,277			￦	5,813
Derivatives used for hedge			227,318				7,389
Financial instruments1			716,769				1,333,317
Available-for-sale financial assets1			404,774				380,953
Held-to-maturity investments			30,143				151
Less: Non-current			(664,726	)			(754,992	)
Current		￦	720,555	)		￦	972,631	)
Other financial liabilities
Financial liabilities at fair value through the profit or loss		￦	1,973			￦	5,051
Derivatives used for hedge			14,928				93,770
Other financial liabilities			91,763				87,669
Less: Non-current			(108,431	)			(149,267	)
Current		￦	233			￦	37,223

1 As of December 31, 2017, MMW(Money Market Wrap) and MMT(Money Market Trust) amounting to ￦870,453 million is included in other financial assets. As of December 31, 2017, the Group’s financial instruments amounting to ￦59,660 million (December 31, 2016: ￦49,721 million), which consist of certain proceeds from the disposal of Ustream Inc. deposited in an escrow account, checking account deposits and deposits for Win-win Growth Cooperative loans, are subject to withdrawal restrictions.

Summary of Financial Instruments at Fair Value Through Profit or Loss

Financial instruments at fair value through profit or loss as of December 31, 2016 and 2017, are as follows:

		2016								2017
(In millions of Korean won)		Assets				Liabilities				Assets				Liabilities
Financial instruments at fair value through profit and loss		￦	6,277			￦	—			￦	5,813			￦	—
Other derivatives liabilities		￦	—			￦	1,973			￦	—			￦	5,051

Summary of Financial Assets and Liabilities at Fair Value Through Profit or Loss

Financial instruments at fair value through profit or loss

		2015								2016								2017
(in millions of Korean won)		Valuation gains				Valuation losses				Valuation gains				Valuation losses				Valuation gains				Valuation losses
Valuation gains and losses on financial assets		￦	—			￦	—			￦	470			￦	7,654			￦	—			￦	464
Total		￦	—			￦	—			￦	470			￦	7,654			￦	—			￦	464

Summary of Financial Assets Held for Trading

Held for trading

		2015								2016								2017
(in millions of Korean won)		Valuation gains				Valuation losses				Valuation gains				Valuation losses				Valuation gains				Valuation losses
Valuation gains and losses on financial assets		￦	—			￦	2,006			￦	33			￦	—			￦	—			￦	3,078
Total		￦	—			￦	2,006			￦	33			￦	—			￦	—			￦	3,078

Summary of Derivative Financial Assets and Liabilities

Derivatives used for hedge as of December 31, 2016 and 2017, are as follows:

		2016								2017
(in millions of Korean won)		Assets				Liabilities				Assets				Liabilities
Interest rate swap1		￦	—			￦	3,278			￦	—			￦	2,633
Currency swap2			214,648				11,650				7,389				81,300
Currency forwards3			12,670				—				—				9,837
Total			227,318				14,928				7,389				93,770
Less: non-current			(97,220	)			(14,695	)			(4,675	)			(56,547	)
Current		￦	130,098			￦	233			￦	2,714			￦	37,223

1 The interest rate swap contract is to hedge the risk of variability in future fair value of the bond.

2 The currency swap contract is to hedge the risk of variability in cash flow from the bond. In applying the cash flow hedge accounting, the Group hedges its exposures to cash flow fluctuation until September 7, 2034.

3 The currency forward contract is to hedge the risk of variability in cash flow from transactions in foreign currencies due to changes in foreign exchange rate.

Summary of Valuation Gains and Losses on Derivatives Contracts

The valuation gains and losses on the derivatives contracts for the years ended December 31, 2015, 2016 and 2017, are as follows:

(in millions of Korean won)		2015												2016												2017
Type of Transaction		Valuation gain				Valuation loss				Other comprehensive income1				Valuation gain				Valuation loss				Other comprehensive income1				Valuation gain				Valuation loss				Other comprehensive income1
Interest rate swap		￦	—			￦	—			￦	(2,858	)		￦	—			￦	148			￦	(142	)		￦	38			￦	—			￦	637
Currency swap			141,512				1,733				150,255				97,158				(10	)			85,479				19				187,468				(146,752	)
Currency forwards			—				—				247				12,278				—				146				—				22,114				(393	)
Total		￦	141,512			￦	1,733			￦	147,644			￦	109,436			￦	138			￦	85,483			￦	57			￦	209,582			￦	(146,508	)

1 The amounts before adjustments of deferred income tax directly reflected in equity and allocation to the non-controlling interest.

Summary of Available-For-Sale Financial Assets

Details of available-for-sale financial assets as of December 31, 2016, and 2017 are as follows:

(In millions of Korean won)		2016				2017
Marketable equity securities		￦	5,387			￦	6,859
Non-marketable equity securities			372,703				364,195
Debt securities			26,684				9,899
Total			404,774				380,953
Less: non-current			(384,798	)			(379,488	)
Current		￦	19,976			￦	1,465

Summary of Changes in Available-for-Sale Financial Assets

Changes of available-for-sale financial assets for the years ended December 31, 2016, and 2017 are as follows:

(In millions of Korean won)		2016				2017
Beginning		￦	360,037			￦	404,774
Acquisition			44,302				89,027
Disposal			(18,161	)			(129,682	)
Valuation1			14,413				67,593
Impairment			(966	)			(6,137	)
Reclassification			5,149				(44,622	)
Changes in scope of consolidation			—				—
Ending		￦	404,774			￦	380,953

1 The amounts before adjustments of deferred income tax directly reflected in equity and allocation to the non-controlling interest.

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The disclosure of financial assets classified as available for sale. [Refer: Financial assets available-for-sale]

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