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Financial Instruments by Category | 12 Months Ended
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Dec. 31, 2020
Text block [abstract] |
Financial Instruments by Category |
4. | Financial Instruments by Category
Financial instruments by category as at December 31, 2019 and 2020, are as follows:
(In millions of Korean won) |  | December 31, 2019 |
Financial assets |  | Financial assets at amortized cost |  |  | Financial assets at fair value through profit or loss |  |  | Financial assets at fair value through other comprehensive income |  |  | Derivatives used for hedging |  |  | Total |
Cash and cash equivalents |  | ￦ | 2,305,894 |  |  | ￦ | — |  |  | ￦ | — |  |  | ￦ | — |  |  | ￦ | 2,305,894 |
Trade and other receivables 1 |  |  | 5,748,459 |  |  |  | — |  |  |  | 1,256,266 |  |  |  | — |  |  |  | 7,004,725 |
Other financial assets |  |  | 441,804 |  |  |  | 632,324 |  |  |  | 557,342 |  |  |  | 58,576 |  |  |  | 1,690,046 |
1 | Lease receivables and others which are not applied to financial instruments by category are excluded.
(In millions of Korean won) |  | December 31, 2019 |
Financial liabilities |  | Financial liabilities at amortized cost |  |  | Financial liabilities at fair values through profit and loss |  |  | Derivatives used for hedging |  |  | Total |
Trade and other payables |  | ￦ | 8,679,698 |  |  | ￦ | — |  |  | ￦ | — |  |  | ￦ | 8,679,698 |
Borrowings |  |  | 7,298,867 |  |  |  | — |  |  |  | — |  |  |  | 7,298,867 |
Other financial liabilities |  |  | 129,945 |  |  |  | 38 |  |  |  | 20,096 |  |  |  | 150,079 |
(In millions of Korean won) |  | December 31, 2020 |
Financial assets |  | Financial assets at amortized cost |  |  | Financial assets at fair value through profit or loss |  |  | Financial assets at fair value through other comprehensive income |  |  | Derivatives used for hedging |  |  | Total |
Cash and cash equivalents |  | ￦ | 2,634,624 |  |  | ￦ | — |  |  | ￦ | — |  |  | ￦ | — |  |  | ￦ | 2,634,624 |
Trade and other receivables 1 |  |  | 4,976,423 |  |  |  | — |  |  |  | 1,118,619 |  |  |  | — |  |  |  | 6,095,042 |
Other financial assets |  |  | 671,068 |  |  |  | 809,919 |  |  |  | 258,516 |  |  |  | 7,684 |  |  |  | 1,747,187 |
1 | Lease receivables and others which are not applied to financial instruments by category are excluded.
(In millions of Korean won) |  | December 31, 2020 |
Financial liabilities |  | Financial liabilities at amortized cost |  |  | Financial liabilities at fair values through profit and loss |  |  | Derivatives used for hedging |  |  | Total |
Trade and other payables |  | ￦ | 7,017,639 |  |  | ￦ | — |  |  | ￦ | — |  |  | ￦ | 7,017,639 |
Borrowings |  |  | 7,316,298 |  |  |  | — |  |  |  | — |  |  |  | 7,316,298 |
Other financial liabilities |  |  | 132,558 |  |  |  | 2,682 |  |  |  | 127,929 |  |  |  | 263,169 |
Gains or losses arising from financial instruments by category for the years ended December 31, 2018, 2019 and 2020, are as follows:
(In millions of Korean won) |  | 2018 |  |  | 2019 |  |  | 2020 |
Financial assets at amortized cost |  |  |  |  |  |  |  |  |  |  |  |
Interest income 1,5 |  | ￦ | 93,233 |  |  | ￦ | 79,838 |  |  | ￦ | 55,742 |
Gain(loss) on foreign currency transaction 4 |  |  | 19,396 |  |  |  | 32,293 |  |  |  | (19,244 | )
Loss on foreign currency translation 4 |  |  | (2,901 | ) |  |  | (474 | ) |  |  | (3,895 | )
Gain(loss) on disposal |  |  | 44 |  |  |  | (43 | ) |  |  | 138 |
Loss on valuation |  |  | (110,544 | ) |  |  | (59,947 | ) |  |  | (140,474 | )
Financial assets at fair value through profit or loss |  |  |  |  |  |  |  |  |  |  |  |
Interest income 1 |  |  | 9,194 |  |  |  | 5,634 |  |  |  | 6,548 |
Dividend income 6 |  |  | 1,207 |  |  |  | 1,096 |  |  |  | 4,379 |
Gain on valuation 7 |  |  | 10,768 |  |  |  | 4,334 |  |  |  | 59,044 |
Gain on disposal |  |  | 1,713 |  |  |  | 5,115 |  |  |  | (329 | )
Loss on foreign currency transaction 4 |  |  | — |  |  |  | — |  |  |  | (38 | )
Loss on foreign currency translation 4 |  |  | — |  |  |  | (27 | ) |  |  | — |
Financial assets at fair value through other comprehensive income |  |  |  |  |  |  |  |  |  |  |  |
Interest income 1 |  |  | 163,390 |  |  |  | 217,355 |  |  |  | 227,736 |
Dividend income 6 |  |  | 1,704 |  |  |  | 2,312 |  |  |  | 56 |
Impairment loss |  |  | (2,416 | ) |  |  | (304 | ) |  |  | — |
Loss on disposal |  |  | (13,818 | ) |  |  | (11,247 | ) |  |  | (8,152 | )
Other comprehensive income for the year 2 |  |  | 43,811 |  |  |  | 167,152 |  |  |  | 41,997 |
Derivative assets used for hedging |  |  |  |  |  |  |  |  |  |  |  |
Gain on transaction |  |  | 7,272 |  |  |  | 6,332 |  |  |  | 6,050 |
Gain(loss) on valuation |  |  | 22,065 |  |  |  | 56,537 |  |  |  | (2,707 | )
Other comprehensive income(loss) for the year 2 |  |  | 20,078 |  |  |  | 46,806 |  |  |  | (2,373 | )
Reclassified to profit or loss from other comprehensive income for the year 2,3 |  |  | (15,891 | ) |  |  | (39,604 | ) |  |  | 3,645 |
Financial liabilities at fair value through profit or loss |  |  |  |  |  |  |  |  |  |  |  |
Gain on disposal |  |  | — |  |  |  | 2,664 |  |  |  | 799 |
Gain(loss) on valuation |  |  | (2,708 | ) |  |  | (1,936 | ) |  |  | 119 |
Derivative liabilities used for hedging |  |  |  |  |  |  |  |  |  |  |  |
Gain on transactions |  |  | 20,678 |  |  |  | — |  |  |  | 1,141 |
Gain(loss) on valuation |  |  | 42,195 |  |  |  | 4,949 |  |  |  | (161,003 | )
Other comprehensive income for the year 2 |  |  | (2,810 | ) |  |  | 20,742 |  |  |  | (81,671 | )
Reclassified to profit or loss from other comprehensive income for the year 2,3 |  |  | (28,388 | ) |  |  | (5,080 | ) |  |  | 107,786 |
Financial liabilities at amortized cost |  |  |  |  |  |  |  |  |  |  |  |
Interest expense 1,5 |  |  | (296,894 | ) |  |  | (223,974 | ) |  |  | (220,945 | )
Loss on repayment |  |  | (15 | ) |  |  | — |  |  |  | — |
Loss on foreign currency transaction 4 |  |  | (30,956 | ) |  |  | (20,958 | ) |  |  | (10,717 | )
Gain(loss) on foreign currency translation 4 |  |  | (66,050 | ) |  |  | (75,502 | ) |  |  | 141,849 |
Total |  | ￦ | (116,643 | ) |  | ￦ | 214,063 |  |  | ￦ | 5,481 |
1 | BC Card, a subsidiary of the Group, recognized interest income and expense as operating revenue and expense, respectively. Related interest income recognized as operating revenue is ￦ 20,854 million (2018: ￦ 21,021 million, 2019: ￦ 21,018 million) and interest expense recognized as operating expense is ￦ 1,456 million (2018: ￦ 21 million, 2019: ￦ 548 million) for the year ended December 31, 2020.
2 | The amounts directly reflected in equity after adjustments of deferred income tax.
3 | During the year, certain derivatives of the Group were settled and the related gain or loss on valuation of cash flow hedge in other comprehensive income was reclassified to profit or loss for the year.
4 | BC Card Co., Ltd., a subsidiary of the Group recognized foreign currency translation/transaction gain and loss and as operating income and expenses. In relation to this, foreign currency translation gain and loss recognized as operating revenue and expense amount to ￦ 56 million (2018: ￦ 0 million. 2019: ￦ 5 million) and ￦ 19,687 million (2018: ￦ 20,422 million, 2019: ￦ 17,006 million), respectively, for the year ended December 31, 2020.
5 | Interest income (interest expense) from lease receivables (lease liabilities) is excluded as it is not subject to classification of financial instruments (Note 21).
6 | BC Card Co., Ltd., a subsidiary of the Group, recognized dividend income as operating revenue. Related dividend income recognized as operating revenue is ￦ 2,059 million (2018: ￦ 1,598 million, 2019: ￦ 2,250 million) for the year ended December 31, 2020.
7 | KT Investment Co., Ltd., etc., subsidiaries of the Group, recognized financial instruments measured at fair value through profit or loss as operating income and expenses. In relation to this, valuation gain and loss recognized as operating revenue and expense amount to ￦ 40,822 million (2018: ￦ (-) 5 million, 2019: ￦ 15,429 million), for the year ended December 31, 2020.

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