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Related Party Transactions | 12 Months Ended
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Dec. 31, 2020
Text block [abstract] |
Related Party Transactions |
35. | Related Party Transaction s
The list of related party of the Group as at December 31, 2020, is as follows:
Relationship |  | Name of Entry
Associates and joint ventures |  | Korea Information & Technology Investment Fund (KIF Investment Fund), K-Realty CR-REITs No.1, Boston Global Film & Contents Fund L.P., QTT Global (Group) Company Limited, CU Industrial Development Co., Ltd., KD Living, Inc., Oscar Ent. Co., Ltd., LoginD Co., Ltd., K-REALTY CR-REIT 6, K Bank, Inc., Daiwon Broadcasting Co., Ltd., KT-DSC creative economy youth start-up investment fund, Korea electronic Vehicle charging service, K-REALTY RENTAL HOUSING REIT 2, AI RESEARCH INSTITUTE, KT-IBKC Future Investment Fund 1, Gyeonggi-KT Yoojin Superman Fund, FUNDA Co., Ltd., CHAMP IT Co.,Ltd., Alliance Internet Corp., Little big pictures, Virtual Realm Sendirian Berhad, KT Philippines Co., Ltd., Studio Discovery Co., Ltd , KT Young Entrepreneurs DNA Investment Fund, Hyundai Robotics Co., Ltd., IGIS Professional investors Private Investment Real Estate Investment LLC No 395, KT-Smart Factory Investment Fund
Outstanding balances of receivables and payables in relations to transactions with related parties as at December 31, 2019 and 2020, are as follows:
|  | December 31, 2019 |
|  |  |  | Receivables |  |  | Payables |
(In millions of Korean won) |  | Trade receivables |  |  | Other receivables |  |  | Other payables |  |  | Lease liabilities |
Associates and joint ventures |  | K- Realty CR-REITs No.1 |  | ￦ | 608 |  |  | ￦ | 23,100 |  |  | ￦ | — |  |  | ￦ | 57,907 |
| K Bank, Inc. |  |  | 583 |  |  |  | 13,664 |  |  |  | 557 |  |  |  | — |
| Others |  |  | 434 |  |  |  | 1,177 |  |  |  | 711 |  |  |  | — |
Total |  |  |  | ￦ | 1,625 |  |  | ￦ | 37,941 |  |  | ￦ | 1,268 |  |  | ￦ | 57,907 |
|  | December 31, 2020 |
|  |  |  | Receivables |  |  | Payables |
(In millions of Korean won) |  | Trade receivables |  |  | Other receivables |  |  | Other payables |  |  | Lease liabilities |
Associates and joint ventures |  | K- Realty CR-REITs No.1 |  | ￦ | 457 |  |  | ￦ | 16,200 |  |  | ￦ | — |  |  | ￦ | 20,857 |
| K Bank, Inc. |  |  | 775 |  |  |  | 32,964 |  |  |  | 891 |  |  |  | — |
| Others |  |  | 72 |  |  |  | 1,147 |  |  |  | 858 |  |  |  | — |
Total |  |  |  | ￦ | 1,304 |  |  | ￦ | 50,311 |  |  | ￦ | 1,749 |  |  | ￦ | 20,857 |
Significant transactions with related parties for the years ended December 31, 2018, 2019 and 2020, are as follows:
|  |  |  | 2018
(In millions of Korean won) |  | Sales |  | Purchases 1 |  | Dividend income
Associates and joint ventures |  | K- Realty CR-REITs No.1 |  | ￦ 2,088 |  | ￦ 31,984 |  | ￦ 8,932
| MOS GS Co., Ltd. 2 |  | 493 |  | 12,023 |  | 8
| MOS Daegu Co., Ltd. 2 |  | 229 |  | 8,775 |  | 8
| MOS Chungcheong Co., Ltd. 2 |  | 540 |  | 9,159 |  | 8
| MOS Gangnam Co., Ltd. 2 |  | 333 |  | 11,549 |  | 10
| MOS GB Co., Ltd. 2 |  | 1,378 |  | 16,519 |  | 12
| MOS BS Co., Ltd. 2 |  | 324 |  | 11,193 |  | 10
| MOS Honam Co., Ltd. 2 |  | 331 |  | 10,499 |  | 10
| K Bank, Inc. |  | 15,705 |  | 7,004 |  | —
| NgeneBio 3 |  | 3 |  | — |  | —
| Others |  | 2,888 |  | 9,547 |  | 2,148
Total |  |  |  | ￦ 24,312 |  | ￦ 128,252 |  | ￦ 11,146
| 1 | The amounts include acquisition of primarily property and equipment.
| 2 | It is the amount before excluded from consolidation during the year.
| 3 | It is the amount before excluded from associates during the year
|  |  |  | 2019 |
(In millions of Korean won) |  | Sales |  |  | Purchases 1 |
Associates and joint ventures |  | K- Realty CR-REITs No.1 |  | ￦ | 1,302 |  |  | ￦ | — |
| K Bank, Inc. |  |  | 17,815 |  |  |  | 8,524 |
| Others |  |  | 1,498 |  |  |  | 10,531 |
Others |  | K-REALTY CR-REIT 10 1 |  |  | 2,801 |  |  |  | — |
|  | Total |  | ￦ | 23,416 |  |  | ￦ | 19,055 |
| 1 | The amounts include acquisition of property and equipment and others.
|  | December 31, 2019 |
(In millions of Korean won) |  | Acquisition of lease receivables |  |  | Acquisition of right-of-use assets |  |  | Interest expense |  |  | Dividend income |
Associates and joint ventures |  | K- Realty CR-REITs No.1 |  | ￦ | — |  |  | ￦ | 776 |  |  | ￦ | 2,225 |  |  | ￦ | 10,928 |
| Korea Information & Technology Investment Fund (KIF Investment Fund) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,280 |
| Others |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 146 |
|  | Total |  | ￦ | — |  |  | ￦ | 776 |  |  | ￦ | 2,225 |  |  | ￦ | 15,354 |
|  |  |  | 2020 |
(In millions of Korean won) |  | Sales |  |  | Purchases 1 |
Associates and joint ventures |  | K- Realty CR-REITs No.1 |  | ￦ | 2,298 |  |  | ￦ | — |
| Korea Information & Technology Investment Fund (KIF Investment Fund) |  |  | — |  |  |  | — |
| K Bank, Inc. |  |  | 15,658 |  |  |  | 8,227 |
|  | Others |  |  | 809 |  |  |  | 10,272 |
|  | Total |  | ￦ | 18,765 |  |  | ￦ | 18,499 |
1 The amounts include acquisition of primarily property and equipment.
|  | December 31, 2020 |
(In millions of Korean won) |  | Interest income |  |  | Interest expense |  |  | Dividend income |
Associates and joint ventures |  | K- Realty CR-REITs No.1 |  |  | ￦ — |  |  |  | ￦ 917 |  |  |  | ￦ 8,061 |
| Korea Information & Technology Investment Fund (KIF Investment Fund) |  |  | — |  |  |  | — |  |  |  | 9,241 |
|  | K Bank, Inc. |  |  | 14 |  |  |  | — |  |  |  | — |
|  | Others |  |  | — |  |  |  | — |  |  |  | 43 |
|  | Total |  | ￦ | 14 |  |  | ￦ | 917 |  |  | ￦ | 17,345 |
Key management compensation for the years ended December 31, 2018, 2019 and 2020, consists of:
(In millions of Korean won) |  | 2018 |  |  | 2019 |  |  | 2020 |
Salaries and other short-term benefits |  | ￦ | 2,762 |  |  | ￦ | 2,955 |  |  | ￦ | 2,086 |
Post-employment benefits |  |  | 751 |  |  |  | 321 |  |  |  | 390 |
Stock-based compensation |  |  | 878 |  |  |  | 891 |  |  |  | 5,613 |
Total |  | ￦ | 4,391 |  |  | ￦ | 4,167 |  |  | ￦ | 8,089 |
Fund transactions with related parties for the years ended December 31, 2018, 2019 and 2020, are as follows:
|  | 2018 |
(In millions of Korean won) |  | Equity contributions in cash and others |
Associates and joint ventures |  |  |  |
PHI Healthcare Inc. (HooH Healthcare Inc.) |  | ￦ | 1,000 |
KT-CKP New Media Investment Fund |  |  | (1,229 | )
PT. Mitra Transaksi Indonesia 1 |  |  | 1,567 |
Gyeonggi-KT Yoojin Superman Fund |  |  | 1,000 |
KT-DSC creative economy youth start-up investment fund |  |  | (1,800 | )
KT-IBKC future investment fund 1 |  |  | (1,050 | )
Korea Electronic Vehicle Charging Service |  |  | 168 |
K Bank, Inc. |  |  | 26,725 |
GE Premier 1st Corporate Restructuring Real Estate Investment Trust Company |  |  | (3,423 | )
JB Emerging Market Specialty Investment Private Equity Trust No.1 |  |  | 3,960 |
K-REALTY CR REIT 1 |  |  | — |
Korea Information & Technology Investment Fund |  |  | — |
MOS GS Co., Ltd. 2 |  |  | (147 | )
MOS Daegu Co., Ltd. 2 |  |  | (147 | )
MOS Chungcheong Co., Ltd. 2 |  |  | (153 | )
MOS Gangnam Co., Ltd. 2 |  |  | (180 | )
MOS GB Co., Ltd. 2 |  |  | (203 | )
MOS BS Co., Ltd. 2 |  |  | (183 | )
MOS Honam Co., Ltd. 2 |  |  | (206 | )
Daiwon Broadcasting Co., Ltd. |  |  | — |
Boston Global Film & Contents Fund L.P. |  |  | (986 | )
Gyeonggi-KT Green Growth Fund |  |  | — |
Total |  | ￦ | 24,713 |
| 1 | It is the amount before reclassification to assets held for sale .
| 2 | It is the amount before included in consolidation during the year.
|  | December 31, 2019 |
|  | Borrowing transaction 1 |  |  | Equity contributions in cash |
(In millions of Korean won) |  | Borrowing 2 |  |  | Repayment |
KT-IBKC Future Investment Fund1 |  | ￦ | — |  |  | ￦ | — |  |  | ￦ | 3,750 |
KT Philippines co. Ltd. |  |  | — |  |  |  | — |  |  |  | 99 |
Virtua Realm Sendirian Berhad |  |  | — |  |  |  | — |  |  |  | 550 |
K-REALTY CR REIT 1 |  |  | — |  |  |  | 30,385 |  |  |  | — |
K Bank, Inc |  |  | — |  |  |  | — |  |  |  | 21,782 |
KIF Investment Fund |  |  | — |  |  |  | — |  |  |  | — |
Daiwon Broadcasting Co.,Ltd. |  |  | — |  |  |  | — |  |  |  | — |
JB Emerging Market Specialty Investment Private Equity Trust No.1 |  |  | — |  |  |  | — |  |  |  | — |
Gyeonggi-KT Yoojin Superman Fund |  |  | — |  |  |  | — |  |  |  | 1,000 |
KT-CKP New Media Investment Fund |  |  | — |  |  |  | — |  |  |  | (174 | )
KT-DSC creative economy youth start-up investment fund |  |  | — |  |  |  | — |  |  |  | (1,800 | )
KT-Smart Factory Investment Fund |  |  | — |  |  |  | — |  |  |  | 2,800 |
KT-SB Venture Investment Fund |  |  | — |  |  |  | — |  |  |  | (2,404 | )
Total |  | ￦ | — |  |  | ￦ | 30,385 |  |  | ￦ | 25,603 |
| 1 | Borrowing transactions include lease transactions.
| 2 | Conversion effect from the adoption of IFRS 16 Lease on January 1, 2019 has been excluded.
|  | December 31, 2020 |
|  | Borrowing transaction 1 |  |  | Equity contributions in cash |
(In millions of Korean won) |  | Borrowing |  |  | Repayment |
K- Realty CR-REITs No.1 |  | ￦ | — |  |  | ￦ | 20,304 |  |  | ￦ | — |
Studio Discovery Co. Ltd. |  |  | — |  |  |  | — |  |  |  | 3,000 |
KT Young Entrepreneurs DNA Investment Fund |  |  | — |  |  |  | — |  |  |  | 3,600 |
KT-Smart Factory Investment Fund |  |  | — |  |  |  | — |  |  |  | 2,800 |
KT-CKP New Media Investment Fund |  |  | — |  |  |  | — |  |  |  | (109 | )
K Bank Inc. |  |  | — |  |  |  | — |  |  |  | 195,011 |
Gyeonggi-KT Yoojin Superman Fund |  |  | — |  |  |  | — |  |  |  | 1,000 |
Hyundai Robotics Co. Ltd. |  |  | — |  |  |  | — |  |  |  | 50,000 |
Total |  | ￦ | — |  |  | ￦ | 20,304 |  |  | ￦ | 255,302 |
| 1 | Borrowing transactions include lease transactions.
As at December 31, 2020, there is no collateral or payment guarantee provided to or from related parties.

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