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Investments in Associates and Joint Ventures (Tables)

12 Months Ended

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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- Definition

The disclosure of the reconciliation between the investment derecognised and the assets and liabilities recognised on the transition from the equity method to accounting for assets and liabilities.

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