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Financial Risk Management (Tables)

12 Months Ended

Dec. 31, 2019

Statement [LineItems]

Summary of Maximum Exposure to Credit Risk

The maximum exposure to credit risk of the Group’s financial instruments without considering value of collaterals as at December 31, 2018 and 2019, are as follows:

(In millions of Korean won)		December 31, 2018				December 31, 2019
Cash and cash equivalents (except for cash on hand)		￦	2,284,885			￦	2,226,608
Trade and other receivables
Financial assets at amortized costs			5,425,996				5,784,228
Financial assets at fair value through other comprehensive income			1,097,348				1,256,266
Contract assets			398,797				557,041
Other financial assets
Derivatives financial assets for hedging			29,843				58,576
Financial assets at fair value through profit or loss			714,653				541,657
Financial assets at fair value through other comprehensive income			6,909				7,086
Financial assets at amortized costs			484,271				441,804
Financial guarantee contracts1			65,760				19,422
Total		￦	10,508,462			￦	10,892,688

1 It is total amount guaranteed by the Group according to the guarantee contracts.

Summary of Contractual Undiscounted Cash Flows

The table below analyzes the Group’s liabilities (including interest expenses) into relevant maturity groups based on the remaining period at the date of the end of each reporting period to the contractual maturity date. These amounts are contractual undiscounted cash flows and can differ from the amount in the consolidated financial statements.

		December 31, 2018
(In millions of Korean won)		Less than 1 year				1-5 years				More than 5 years				Total
Trade and other payables		￦	7,287,436			￦	1,173,579			￦	492,429			￦	8,953,444
Borrowings(including debentures)			1,507,232				3,669,060				2,378,272				7,554,564
Other non-derivative financial liabilities			6,123				37,358				132,152				175,633
Financial guarantee contracts1			52,734				13,026				—				65,760
Total		￦	8,853,525			￦	4,893,023			￦	3,002,853			￦	16,749,401

1 It is total amount guaranteed by the Group according to guarantee contracts. Cash flow from financial guarantee contracts is classified as the maturity group in the earliest period when the financial guarantee contracts can be executed.

		December 31, 2019
(In millions of Korean won)		Less than 1 year				1-5 years				More than 5 years				Total
Trade and other payables		￦	8,149,445			￦	805,241			￦	370,044			￦	9,324,730
Borrowings(including debentures)			1,304,936				4,417,639				2,493,637				8,216,212
Lease liabilities			356,797				378,258				49,730				784,785
Other non-derivative financial liabilities			1,749				175,764				18,962				196,475
Financial guarantee contracts1			19,422				—				—				19,422
Total		￦	9,832,349			￦	5,776,902			￦	2,932,373			￦	18,541,624

1 It is total amount guaranteed by the Group according to guarantee contracts. Cash flow from financial guarantee contracts is classified as the maturity group in the earliest period when the financial guarantee contracts can be executed.

Summary of Cash Outflow and Inflow of Derivatives Settled Gross or Net are Undiscounted Contractual Cash Flow

		December 31, 2017
(In millions of Korean won)		Less than 1 year				1-5 years				More than 5 years				Total
Outflow		￦	638,171			￦	546,791			￦	526,633			￦	1,711,595
Inflow			608,270				568,976				509,558				1,686,804

		December 31, 2018
(In millions of Korean won)		Less than 1 year				1-5 years				More than 5 years				Total
Outflow		￦	455,343			￦	1,466,915			￦	517,301			￦	2,439,559
Inflow			484,505				1,492,718				519,133				2,496,356

		December 31, 2019
(In millions of Korean won)		Less than 1 year				1-5 years				More than 5 years				Total
Outflow		￦	650,497			￦	1,602,513			￦	507,947			￦	2,760,957
Inflow			684,720				1,648,746				524,483				2,857,949

Summary of Debt-to-equity Ratios

The debt-to-equity ratios as at December 31, 2018 and 2019, are as follows:

(In millions of Korean won)		December 31, 2018				December 31, 2019
Total liabilities		￦	17,815,630			￦	19,009,318
Total equity			14,658,490				15,144,090
Debt-to-equity ratio			122	%			126	%

Summary of Gearing Ratios

The gearing ratios as at December 31, 2018 and 2019, are as follows:

(In millions of Korean won, %)		December 31, 2018				December 31, 2019
Total borrowings		￦	6,648,293			￦	7,298,867
Less: cash and cash equivalents			(2,703,422	)			(2,305,894	)
Net debt			3,944,871				4,992,973
Total equity			14,658,490				15,144,090
Total capital			18,603,361				20,137,063
Gearing ratio			21	%			25	%

Summary of Group's Recognized Financial Assets Subject to Enforceable Master Netting Arrangements or Similar Agreements

Details of the Group’s recognized financial assets subject to enforceable master netting arrangements or similar agreements are as follows:

(In millions of Korean won)		December 31, 2018
		Gross assets				Gross liabilities offset				Net amounts presented in the statement of financial position				Amounts not offset								Net amount
														Financial instruments				Cash collateral
Trade receivables		￦	78,833			￦	(1	)		￦	78,832			￦	(76,414	)		￦	—			￦	2,418
Other financial assets			19,825				—				19,825				(19,825	)			—				—
		￦	98,658			￦	(1	)		￦	98,657			￦	(96,239	)		￦	—			￦	2,418

(In millions of Korean won)		December 31, 2019
		Gross assets				Gross liabilities offset				Net amounts presented in the statement of financial position				Amounts not offset								Net amount
														Financial instruments				Cash collateral
Trade receivables		￦	66,487			￦	(1	)		￦	66,486			￦	(63,604	)		￦	—			￦	2,882
Other financial assets			18,571				(13	)			18,558				(18,526	)			—				32
		￦	85,058			￦	(14	)		￦	85,044			￦	(82,130	)		￦	—			￦	2,914

Netting arrangements with reference to the offers of telecommunication facility interconnection, sharing data, and others among telecommunication companies.

Summary of Group's Recognized Financial Liabilities Subject to Enforceable Master Netting Arrangements or Similar Agreements

The Group’s recognized financial liabilities subject to enforceable master netting arrangements or similar agreements are as follows:

(In millions of Korean won)		December 31, 2018
		Gross liabilities				Gross assets offset				Net amounts presented in the statement of financial position				Amounts not offset								Net amount
														Financial instruments				Cash collateral
Trade payables		￦	78,317			￦	—			￦	78,317			￦	(76,413	)		￦	—			￦	1,904
Other financial liabilities			19,827				(1	)			19,826				(19,825	)			—				1
		￦	98,144			￦	(1	)		￦	98,143			￦	(96,238	)		￦	—			￦	1,905

(In millions of Korean won)		December 31, 2019
		Gross liabilities				Gross assets offset				Net amounts presented in the statement of financial position				Amounts not offset								Net amount
														Financial instruments				Cash collateral
Trade payables		￦	65,669			￦	(13	)		￦	65,656			￦	(63,628	)		￦	—			￦	2,028
Other financial liabilities			18,509				(1	)			18,508				(18,502	)			—				6
		￦	84,178			￦	(14	)		￦	84,164			￦	(82,130	)		￦	—			￦	2,034

Netting arrangements with reference to the offers of telecommunication facility interconnection, sharing data, and others among telecommunication companies.

Currency risk [Member]

Statement [LineItems]

Summary of Exposures to Risks, Effects on Profit before Income Tax and Shareholders' Equity

As at December 31, 2017, 2018 and 2019, if the foreign exchange rate had strengthened/weakened by 10% with all other variables held constant, the effects on profit before income tax and shareholders’ equity would have been as follows:

(In millions of Korean won)		Fluctuation of foreign exchange rate				Income before tax1				Shareholders’ equity
2017.12.31			10	%			(10,132	)			(7,273	)
			-10	%			10,132				7,273
2018.12.31			10	%			(2,350	)			633
			-10	%			(2,851	)			(62	)
2019.12.31			10	%			(51,581	)			(44,638	)
			-10	%			51,581				44,638

1 Computed with considering derivatives hedging effect applied by the Group to hedge foreign exchange risk of liabilities in foreign currencies.

Summary of Details of Financial Assets and Liabilities in Foreign Currencies

Details of financial assets and liabilities in foreign currencies as at December 31, 2017, 2018 and 2019, are as follows:

(In thousands of foreign currencies)		2017								2018								2019
		Financial assets				Financial liabilities				Financial assets				Financial liabilities				Financial assets				Financial liabilities
USD			236,476				1,908,831				279,327				1,893,782				209,163				2,551,289
SDR1			306				738				267				730				255				729
JPY			28,267				21,801,443				66,078				50,000,000				24,930				80,000,000
GBP			—				74				—				256				—				56
EUR			186				3,625				2				6				1				6
DZD2			47				—				618				—				—				—
CNY			46,555				10				16,315				271				2,438,626				14,137
UZS3			136,787				—				121,053				—				—				—
RWF4			3,346				—				857				—				706				—
THB5			—				—				1,685				1,685				6,143				3,079
IDR6			14,886,393				710,162				64,240,286				41,510,330				10,657,194				2,034,151
MMK7			84				—				84				—				84				—
TZS8			317,348				—				—				2,876				6,919				—
BWP9			42				—				897				—				911				—
HKD			—				—				—				—				—				268
BDT10			38,074				—				39,494				—				18,897				—
PLN11			338				—				26				—				—				—
VND12			311,649				—				467,272				—				271,563				—
XAF13			—				—				666				—				97,411				—
CHF14			—				12				—				—				—				—

1 Special Drawing Rights.

2 Algeria Dinar.

3 Uzbekistan Sum.

4 Rwanda Franc.

5 Thailand Bhat.

6 Indonesia Rupiah.

7 Myanmar Kyat.

8 Tanzanian Shilling.

9 Botswana Pula.

10 Bangladesh Taka.

11 Polish Zloty.

12 Vietnam Dong.

13 Central African Franc.

14 Confoederatio Helvetia Franc.

Equity price risk [Member]

Statement [LineItems]

Summary of Exposures to Risks, Effects on Profit before Income Tax and Shareholders' Equity

As at December 31, 2017, 2018 and 2019, the Group is exposed to equity securities price risk because the securities held by the Group are traded in active markets. If the market prices had increased/decreased by 10% with all other variables held constant, the effects on profit before income tax and shareholders’ equity would have been as follows:

(In millions of Korean won)		Fluctuation of price		Income before tax				Equity
2017.12.31		10%		￦	—			￦	686
		-10%			—				(686	)
2018.12.31		10%		￦	12			￦	898
		-10%			(12	)			(898	)
2019.12.31		10%		￦	23			￦	697
		-10%			(23	)			(697	)

Interest rate risk [Member]

Statement [LineItems]

Summary of Exposures to Risks, Effects on Profit before Income Tax and Shareholders' Equity

As at December 31, 2017, 2018 and 2019, if the market interest rate had increased/decreased by 100 bp with other variables held constant, the effects on profit before income tax and shareholders’ equity would be as follows:

(In millions of Korean won)		Fluctuation of interest rate		Income before tax				Shareholders’ equity
2017.12.31		+ 100 bp		￦	1,942			￦	4,868
		- 100 bp			(1,954	)			(5,198	)
2018.12.31		+ 100 bp		￦	1,059			￦	9,689
		- 100 bp			(1,958	)			(10,237	)
2019.12.31		+ 100 bp		￦	425			￦	14,764
		- 100 bp			(482	)			(19,280	)

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The disclosure of the credit risk exposure. Credit risk exposure is the credit risk inherent in an entity’s financial assets and commitments to extend credit.

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