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v3.21.1

Other Financial Assets and Liabilities (Tables) | 12 Months Ended
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Dec. 31, 2020
Text block [abstract] |
Summary of Other Financial Assets and Liabilities | Details of other financial assets and liabilities as at December 31, 2019 and 2020, are as follows:
(In millions of Korean won) |  | December 31, 2019 |  |  | December 31, 2020 |
Other financial assets |  |  |  |  |  |  |  |
Financial assets at amortized cost 1 |  | ￦ | 441,804 |  |  | ￦ | 671,068 |
Financial assets at fair value through profit or loss 1,2,3 |  |  | 632,324 |  |  |  | 809,919 |
Financial assets at fair value through other comprehensive income 1,3 |  |  | 557,342 |  |  |  | 258,516 |
Derivative used for hedging |  |  | 58,576 |  |  |  | 7,684 |
Less: Non-current |  |  | (821,658 | ) |  |  | (544,347 | )
Current |  | ￦ | 868,388 |  |  | ￦ | 1,202,840 |
Other financial liabilities |  |  |  |  |  |  |  |
Financial liabilities at amortized cost |  | ￦ | 129,945 |  |  | ￦ | 132,558 |
Financial liabilities at fair value through profit or loss |  |  | 38 |  |  |  | 2,682 |
Derivatives used for hedging |  |  | 20,096 |  |  |  | 127,929 |
Less: Non-current |  |  | (149,136 | ) |  |  | (260,676 | )
Current |  | ￦ | 943 |  |  | ￦ | 2,493 |
1 | As at December 31, 2020, the Group’s other financial assets amounting to ￦ 104,442 million (2019: ￦ 91,445 million), which consist of checking account deposits and payment guarantee, are subject to withdrawal restrictions.
2 | As at December 31, 2020, MMW (Money Market Wrap) and MMT (Money Market Trust) amounting to ￦ 509,068 million (2019: ￦ 406,062 million) is included in other financial assets.
3 | As at December 31, 2020, the Group provided investments in Korea Software Financial Cooperative amounting to ￦ 5,491 million (2019: ￦ 1,849 million) as a collateral for the payment guarantee provided by the Cooperative.
Summary of Financial Assets at Fair Value Through Profit or Loss | Details of financial assets at fair value through profit or loss as at December 31, 2019 and 2020, are as follows:
(In millions of Korean won) |  | December 31, 2019 |  |  | December 31, 2020 |
Equity Instruments (Listed) |  | ￦ | 232 |  |  | ￦ | 46,449 |
Equity Instruments (Unlisted) |  |  | 90,357 |  |  |  | 83,017 |
Debt securities |  |  | 541,657 |  |  |  | 680,453 |
Derivatives held for trading |  |  | 78 |  |  |  | — |
Total |  |  | 632,324 |  |  |  | 809,919 |
Less: non-current |  |  | (219,026 | ) |  |  | (276,109 | )
Current |  | ￦ | 413,298 |  |  | ￦ | 533,810 |
Summary of Financial Assets at Fair Value Through Other Comprehensive Income | Details of financial assets at fair value through other comprehensive income as at December 31, 2019 and 2020, are as follows:
(In millions of Korean won) |  | December 31, 2019 |  |  | December 31, 2020 |
Equity Instruments (Listed) |  | ￦ | 6,738 |  |  | ￦ | 6,216 |
Equity Instruments (Unlisted) |  |  | 543,518 |  |  |  | 245,730 |
Debt securities |  |  | 7,086 |  |  |  | 6,570 |
Total |  |  | 557,342 |  |  |  | 258,516 |
Less: non-current |  |  | (556,147 | ) |  |  | (258,516 | )
Current |  | ￦ | 1,195 |  |  | ￦ | — |
Summary of Derivative Financial Assets and Liabilities | Derivatives used for hedg ing as at December 31, 2019 and 2020, are as follows:
|  | December 31, 2019 |  |  | December 31, 2020 |
(In millions of Korean won) |  | Assets |  |  | Liabilities |  |  | Assets |  |  | Liabilities |
Interest rate swap 1 |  | ￦ | — |  |  | ￦ | 1,464 |  |  | ￦ | — |  |  | ￦ | 1,078 |
Currency swap 2 |  |  | 55,569 |  |  |  | 18,632 |  |  |  | 7,684 |  |  |  | 126,189 |
Currency forwards 3 |  |  | 3,007 |  |  |  | — |  |  |  | — |  |  |  | 662 |
Total |  |  | 58,576 |  |  |  | 20,096 |  |  |  | 7,684 |  |  |  | 127,929 |
Less: non-current |  |  | (28,304 | ) |  |  | (19,177 | ) |  |  | (2,111 | ) |  |  | (126,408 | )
Current |  | ￦ | 30,272 |  |  | ￦ | 919 |  |  | ￦ | 5,573 |  |  | ￦ | 1,521 |
1 | The interest rate swap contract is to hedge the risk of variability in future fair value of the borrowings.
2 | The currency swap contract is to hedge the risk of variability in cash flow from the borrowings. 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.
The full value of a hedging derivative is classified as a non-current asset or liability if the remaining maturity of the hedged item is more than 12 months and, as a current asset or liability, if the maturity of the hedged item is less than 12 months.
Summary of Valuation Gains and Losses on Derivatives Contracts | The valuation gains and losses on the derivatives contracts for the years ended December 31, 2018, 2019 and 2020, are as follows:
(In millions of Korean won) |  | 2018 |  |  | 2019 |  |  | 2020 |
Type of Transaction |  | Valuation gain |  |  | Valuation loss |  |  | Other comprehensive income 1 |  |  | Valuation gain |  |  | Valuation loss |  |  | Other comprehensive income 1 |  |  | Valuation gain |  |  | Valuation Loss |  |  | Other comprehensive income 1 |
Interest rate swap |  | ￦ | 192 |  |  | ￦ | — |  |  | ￦ | (488) |  |  | ￦ | — |  |  | ￦ | 45 |  |  | ￦ | (963) |  |  | ￦ | — |  |  | ￦ | — |  |  | ￦ | (567) |
Currency swap |  |  | 58,912 |  |  |  | 2,045 |  |  |  | 22,139 |  |  |  | 72,417 |  |  |  | 15,784 |  |  |  | 87,626 |  |  |  | — |  |  |  | 161,661 |  |  |  | (113,175 | )
Currency forwards |  |  | 7,201 |  |  |  | — |  |  |  | — |  |  |  | 4,858 |  |  |  | — |  |  |  | 4,858 |  |  |  | — |  |  |  | 2,049 |  |  |  | — |
Total |  | ￦ | 66,305 |  |  | ￦ | 2,045 |  |  | ￦ | 21,651 |  |  | ￦ | 77,275 |  |  | ￦ | 15,829 |  |  | ￦ | 91,521 |  |  | ￦ | — |  |  | ￦ | 163,710 |  |  | ￦ | (113,742) |
1 | The amounts before adjustments of deferred income tax directly reflected in equity and allocation to the non-controlling interest.
The ineffective portion recognized in profit or loss on the cash flow hedge is valuation loss of ￦ 2,711 million for the current period (2018: valuation gain of ￦ 263 million, 2019: valuation gain of ￦ 4,181 million).
Summary of Financial Liabilities at Fair Value Through Profit or Loss | Details of financial liabilities at fair value through profit or loss as at December 31, 2019 and 2020, are as follows:
(In millions of Korean won) |  | December 31, 2019 |  |  | December 31, 2020 |
Financial liabilities at fair value through profit or loss |  |  |  |  |  |  |  |
Derivative liabilities held for trading |  | ￦ | 38 |  |  | ￦ | 45 |
Conversion Rights and Redemption Rights |  |  | — |  |  |  | 2,637 |
Total |  | ￦ | 38 |  |  | ￦ | 2,682 |
Summary of Valuation Gain and Loss on Financial Liabilities at Fair Value Through Profit or Loss | The valuation gain and loss on financial liabilities at fair value through profit or loss for the years ended December 31, 2018, 2019 and 2020, are as follows:
|  | 2018 |  |  | 2019 |  |  | 2020 |
(In millions of Korean won) |  | Valuation gain |  |  | Valuation loss |  |  | Valuation gain |  |  | Valuation loss |  |  | Valuation gain |  |  | Valuation loss |
Derivative liabilities held for trading |  | ￦ | — |  |  | ￦ | 2,707 |  |  | ￦ | 78 |  |  | ￦ | 2,014 |  |  | ￦ | 10 |  |  | ￦ | 53 |
Conversion Rights and Redemption Rights |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 162 |  |  |  | — |
Total |  | ￦ | — |  |  | ￦ | 2,707 |  |  | ￦ | 78 |  |  | ￦ | 2,014 |  |  | ￦ | 172 |  |  | ￦ | 53 |
Summary of Hedging instruments | (i) Hedging instruments
(In millions of Korean won and thousands of foreign currencies) |  | 2019 |
|  |  |  |  |  |  | Book value of hedging instruments |  |  | Changes in fair value to calculate the ineffective portion of hedges |
Currency |  | Foreign currency |  |  | Contract amount |  |  | Assets |  |  | Liabilities |
USD |  |  | 1,574,068 |  |  | ￦ | 1,788,831 |  |  | ￦ | 30,175 |  |  | ￦ | 10,692 |  |  | ￦ | 49,480 |
JPY |  |  | 80,000,000 |  |  |  | 827,292 |  |  |  | 28,401 |  |  |  | 9,404 |  |  |  | 15,396 |
Total |  |  |  |  |  | ￦ | 2,616,123 |  |  | ￦ | 58,576 |  |  | ￦ | 20,096 |  |  | ￦ | 64,876 |
(In millions of Korean won and thousands of foreign currencies) |  | 2020 |
|  |  |  |  |  |  | Book value of hedging instruments |  |  | Changes in fair value to calculate the ineffective portion of hedges |
Currency |  | Foreign currency |  |  | Contract amount |  |  | Assets |  |  | Liabilities |
USD |  |  | 1,768,912 |  |  | ￦ | 2,037,568 |  |  | ￦ | 2,111 |  |  | ￦ | 100,623 |  |  | ￦ | (136,852 | )
JPY |  |  | 46,000,000 |  |  |  | 488,924 |  |  |  | 5,573 |  |  |  | 13,839 |  |  |  | (4,065 | )
SGD |  |  | 284,000 |  |  |  | 245,208 |  |  |  | — |  |  |  | 13,467 |  |  |  | (13,611 | )
Total |  |  |  |  |  | ￦ | 2,771,700 |  |  | ￦ | 7,684 |  |  | ￦ | 127,929 |  |  | ￦ | (154,528 | )
Summary of Hedged items | (ii) Hedged item
(In millions of Korean won) |  |  |  |  |  |
| 2019 |  |  | 2020 |
Currency |  | Book value of hedged items |  |  | Changes in fair value to calculate the ineffective portion of hedges |  |  | Cash flow hedge reserves 1 |  |  | Book value of hedged items |  |  | Changes in fair value to calculate the ineffective portion of hedges |  |  | Cash flow hedge reserves 1 |
USD |  | ￦ | 1,822,477 |  |  | ￦ | (45,855 | ) |  | ￦ | (5,214 | ) |  | ￦ | 1,924,576 |  |  | ￦ | 133,978 |  |  | ￦ | 19,641 |
JPY |  |  | 850,776 |  |  |  | (14,841 | ) |  |  | (2,395 | ) |  |  | 484,960 |  |  |  | 4,228 |  |  |  | (2,569 | )
SGD |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 233,510 |  |  |  | 13,611 |  |  |  | 2,707 |
Total |  | ￦ | 2,673,253 |  |  | ￦ | (60,696 | ) |  | ￦ | (7,609 | ) |  | ￦ | 2,643,046 |  |  | ￦ | 151,817 |  |  | ￦ | 19,779 |
1 | The amounts after adjustments of deferred income tax directly reflected in equity.

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