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Investment Properties | 12 Months Ended
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Dec. 31, 2020
Text block [abstract] |
Investment Properties |
12. | Investment Propertie s
Changes in investment properties for the years ended December 31, 2019 and 2020, are as follows:
(In millions of Korean won) |  | 2019 |
| Land |  |  | Buildings |  |  | Construction- in-progress |  |  | Total |
Acquisition cost |  | ￦ | 350,417 |  |  | ￦ | 1,168,379 |  |  | ￦ | 121 |  |  | ￦ | 1,518,917 |
Less: Accumulated depreciation |  |  | (1,569 | ) |  |  | (426,264 | ) |  |  | — |  |  |  | (427,833 | )
Beginning, net |  | ￦ | 348,848 |  |  | ￦ | 742,115 |  |  | ￦ | 121 |  |  | ￦ | 1,091,084 |
Changes in accounting policy 1 |  |  | — |  |  |  | 46,666 |  |  |  | — |  |  |  | 46,666 |
Acquisition |  |  | 148,511 |  |  |  | 103,774 |  |  |  | 1,781 |  |  |  | 254,066 |
Disposal and termination |  |  | (285 | ) |  |  | (1,408 | ) |  |  | — |  |  |  | (1,693 | )
Depreciation |  |  | — |  |  |  | (65,178 | ) |  |  | — |  |  |  | (65,178 | )
Transfer from property and equipment |  |  | 33,254 |  |  |  | 8,081 |  |  |  | — |  |  |  | 41,335 |
Transfer and others |  |  | 23,268 |  |  |  | (2,118 | ) |  |  | — |  |  |  | 21,150 |
Ending, net |  | ￦ | 553,596 |  |  | ￦ | 831,932 |  |  | ￦ | 1,902 |  |  | ￦ | 1,387,430 |
Acquisition cost |  | ￦ | 555,164 |  |  | ￦ | 1,323,518 |  |  | ￦ | 1,902 |  |  | ￦ | 1,880,584 |
Less: Accumulated depreciation (including accumulated impairment loss and others) |  |  | (1,568 | ) |  |  | (491,586 | ) |  |  | — |  |  |  | (493,154 | )
1 | With the application of IFRS 16, right-of-use-assets were partially reclassified to investment properties.
(In millions of Korean won) |  | 2020 |
| Land |  |  | Buildings |  |  | Construction- in-progress |  |  | Total |
Acquisition cost |  | ￦ | 555,164 |  |  | ￦ | 1,323,518 |  |  | ￦ | 1,902 |  |  | ￦ | 1,880,584 |
Less: Accumulated depreciation |  |  | (1,568 | ) |  |  | (491,586 | ) |  |  | — |  |  |  | (493,154 | )
Beginning, net |  | ￦ | 553,596 |  |  | ￦ | 831,932 |  |  | ￦ | 1,902 |  |  | ￦ | 1,387,430 |
Acquisition |  |  | 11,723 |  |  |  | 7,096 |  |  |  | 34,243 |  |  |  | 53,062 |
Disposal and termination |  |  | (1,536 | ) |  |  | (243 | ) |  |  | — |  |  |  | (1,779 | )
Depreciation |  |  | — |  |  |  | (64,531 | ) |  |  | — |  |  |  | (64,531 | )
Transfer from property and equipment |  |  | (6,792 | ) |  |  | 8,848 |  |  |  | — |  |  |  | 2,056 |
Transfer and others |  |  | (18,656 | ) |  |  | 469 |  |  |  | 10,402 |  |  |  | (7,785 | )
Ending, net |  | ￦ | 538,335 |  |  | ￦ | 783,571 |  |  | ￦ | 46,547 |  |  | ￦ | 1,368,453 |
Acquisition cost |  | ￦ | 539,903 |  |  | ￦ | 1,341,326 |  |  | ￦ | 46,547 |  |  | ￦ | 1,927,776 |
Less: Accumulated depreciation (including accumulated impairment loss and others) |  |  | (1,568 | ) |  |  | (557,755 | ) |  |  | — |  |  |  | (559,323 | )
The fair value of investment properties is ￦ 2,645,482 million as at December 31, 2020 (December 31, 2019: ￦ 2,304,583 million). The fair value of investment properties is estimated based on the expected cash flow. Rental income from investment properties is ￦ 203,763 million in 2020 (2019: ￦ 198,636 million) and direct operating expenses (including repairs and maintenance) arising from investment properties that generated rental income during the period are recognized as operating expenses. As at December 31, 2020, the Group (Lessor) has entered into a non-cancellable operating lease contract relating to real estate lease. The future minimum lease fee under this contract is ￦ 50,769 million for one year or less, ￦ 92,728 million more than one year and less than five years, ￦ 78,435 million over five years, and ￦ 221,932 million in total. Details of investment properties provided as collateral as at December 31, 2019 and 2020, are as follows:
(In millions of Korean won) |  | December 31, 2019 |
|  | Carrying amount |  |  | Secured amount |  |  | Related account |  | Related amount |
Land and Buildings |  | ￦ | 854,874 |  |  | ￦ | 62,896 |  |  | Deposits |  | ￦ | 56,831 |
Land and Buildings |  | ￦ | 1,915 |  |  | ￦ | 3,044 |  |  | Borrowings |  | ￦ | 1,903 |
(In millions of Korean won) |  | December 31, 2020 |
|  | Carrying amount |  |  | Secured amount |  |  | Related account |  | Related amount |
Land and Buildings |  | ￦ | 790,414 |  |  | ￦ | 62,968 |  |  | Deposits |  | ￦ | 56,247 |
Land and Buildings |  | ￦ | 2,861 |  |  | ￦ | 3,434 |  |  | Borrowings |  | ￦ | 2,928 |

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