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v3.21.1

Financial Risk Management (Tables) | 12 Months Ended
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Dec. 31, 2020
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, 2019 and 2020, are as follows:
(In millions of Korean won) |  | December 31, 2019 |  |  | December 31, 2020 |
Cash and cash equivalents (except for cash on hand) |  | ￦ | 2,226,608 |  |  | ￦ | 2,625,581 |
Trade and other receivables |  |  |  |  |  |  |  |
Financial assets at amortized costs |  |  | 5,784,228 |  |  |  | 5,034,621 |
Financial assets at fair value through other comprehensive income |  |  | 1,256,266 |  |  |  | 1,118,619 |
Contract assets |  |  | 557,041 |  |  |  | 586,438 |
Other financial assets |  |  |  |  |  |  |  |
Derivatives financial assets for hedging |  |  | 58,576 |  |  |  | 7,684 |
Financial assets at fair value through profit or loss |  |  | 541,657 |  |  |  | 680,453 |
Financial assets at fair value through other comprehensive income |  |  | 7,086 |  |  |  | 6,570 |
Financial assets at amortized costs |  |  | 441,804 |  |  |  | 671,068 |
Total |  | ￦ | 10,873,266 |  |  | ￦ | 10,731,034 |
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, 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 |  |  | 397,609 |  |  |  | 688,518 |  |  |  | 221,255 |  |  |  | 1,307,382 |
Other non-derivative financial liabilities |  |  | 1,749 |  |  |  | 175,764 |  |  |  | 18,962 |  |  |  | 196,475 |
Financial guarantee contracts 1 |  |  | 19,422 |  |  |  | — |  |  |  | — |  |  |  | 19,422 |
Total |  | ￦ | 9,873,161 |  |  | ￦ | 6,087,162 |  |  | ￦ | 3,103,898 |  |  | ￦ | 19,064,221 |
| 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, 2020 |
(In millions of Korean won) |  | Less than 1 year |  |  | 1-5 years |  |  | More than 5 years |  |  | Total |
Trade and other payables |  | ￦ | 6,587,796 |  |  | ￦ | 730,758 |  |  | ￦ | 258,255 |  |  | ￦ | 7,576,809 |
Borrowings(including debentures) |  |  | 1,573,944 |  |  |  | 4,373,534 |  |  |  | 2,258,360 |  |  |  | 8,205,838 |
Lease liabilities |  |  | 336,024 |  |  |  | 658,501 |  |  |  | 190,907 |  |  |  | 1,185,432 |
Other non-derivative financial liabilities |  |  | 574 |  |  |  | 131,242 |  |  |  | — |  |  |  | 131,816 |
Financial guarantee contracts 1 |  |  | 22,422 |  |  |  | — |  |  |  | — |  |  |  | 22,422 |
Total |  | ￦ | 8,520,760 |  |  | ￦ | 5,894,035 |  |  | ￦ | 2,707,522 |  |  | ￦ | 17,122,317 |
| 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 | Cash outflow and inflow of derivatives settled gross or net are undiscounted contractual cash flow 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 |
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 |
|  | December 31, 2020 |
(In millions of Korean won) |  | Less than 1 year |  |  | 1-5 years |  |  | More than 5 years |  |  | Total |
Outflow |  | ￦ | 248,300 |  |  | ￦ | 2,179,046 |  |  | ￦ | 498,619 |  |  | ￦ | 2,925,965 |
Inflow |  |  | 249,301 |  |  |  | 2,074,747 |  |  |  | 480,570 |  |  |  | 2,804,618 |
Summary of Debt-to-equity Ratios | The debt-to-equity ratios as at December 31, 2019 and 2020, are as follows:
(In millions of Korean won) |  | December 31, 2019 |  |  | December 31, 2020 |
Total liabilities |  | ￦ | 19,491,530 |  |  | ￦ | 18,111,112 |
Total equity |  |  | 15,140,684 |  |  |  | 15,551,433 |
Debt-to-equity ratio |  |  | 129 | % |  |  | 116 | %
Summary of Gearing Ratios | The gearing ratios as at December 31, 2019 and 2020, are as follows:
(In millions of Korean won, %) |  | December 31, 2019 |  |  | December 31, 2020 |
Total borrowings |  | ￦ | 7,298,867 |  |  | ￦ | 7,316,298 |
Less: cash and cash equivalents |  |  | (2,305,894 | ) |  |  | (2,634,624 | )
Net debt |  |  | 4,992,973 |  |  |  | 4,681,674 |
Total equity |  |  | 15,140,684 |  |  |  | 15,551,433 |
Total capital |  |  | 20,133,657 |  |  |  | 20,233,107 |
Gearing ratio |  |  | 25 | % |  |  | 23 | %
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, 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 |
(In millions of Korean won) |  | December 31, 2020 |
|  | 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 |  | ￦ | 71,497 |  |  | ￦ | (1 | ) |  | ￦ | 71,496 |  |  | ￦ | (67,421 | ) |  | ￦ | — |  |  | ￦ | 4,075 |
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, 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 |
(In millions of Korean won) |  | December 31, 2020 |
|  | 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 |  | ￦ | 69,361 |  |  | ￦ | — |  |  | ￦ | 69,361 |  |  | ￦ | (67,421 | ) |  | ￦ | — |  |  | ￦ | 1,940 |
Other financial liabilities |  |  | 1 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | ￦ | 69,362 |  |  | ￦ | (1 | ) |  | ￦ | 69,361 |  |  | ￦ | (67,421 | ) |  | ￦ | — |  |  | ￦ | 1,940 |
Currency risk [Member] |
Statement [LineItems] |
Summary of Exposures to Risks, Effects on Profit before Income Tax and Shareholders' Equity | As at December 31, 2018, 2019 and 2020, if the foreign exchange rate had strengthened/weakened by 10% with all other variables held constant, the effects on profit before inc o me tax and shareholders’ equity would have been as follows:
(In millions of Ko r ean won) |  | Fluctuation of foreign exchange rate |  |  | Income before tax 1 |  |  | Shareholders’ equity |
2018.12.31 |  |  | 10 | % |  | ￦ | 7,212 |  |  | ￦ | 10,196 |
|  | -10 | % |  |  | (12,413 | ) |  |  | (9,625 | )
2019.12.31 |  |  | 10 | % |  | ￦ | 45,149 |  |  | ￦ | 52,092 |
|  | -10 | % |  |  | (45,149 | ) |  |  | (52,092 | )
2020.12.31 |  |  | 10 | % |  | ￦ | 25,220 |  |  | ￦ | 36,961 |
|  | -10 | % |  |  | (25,220 | ) |  |  | (36,961 | )
Summary of Details of Financial Assets and Liabilities in Foreign Currencies | Details of financial assets and liabilit i es in foreign currencies as at December 31, 2018, 2019 and 2020, are as follows:
(In thousands of foreign currencies) |  | 2018 |  |  | 2019 |  |  | 2020 |
| Financial assets |  |  | Financial liabilities |  |  | Financial assets |  |  | Financial liabilities |  |  | Financial assets |  |  | Financial liabilities |
US D |  |  | 528,539 |  |  |  | 1,893,849 |  |  |  | 645,941 |  |  |  | 1,830,764 |  |  |  | 400,046 |  |  |  | 1,937,935 |
SDR 1 |  |  | 267 |  |  |  | 730 |  |  |  | 255 |  |  |  | 729 |  |  |  | 255 |  |  |  | 728 |
JPY |  |  | 66,078 |  |  |  | 50,000,000 |  |  |  | 24,930 |  |  |  | 80,000,000 |  |  |  | 209,376 |  |  |  | 46,000,009 |
GBP |  |  | — |  |  |  | 256 |  |  |  | — |  |  |  | 56 |  |  |  | — |  |  |  | — |
EUR |  |  | 2 |  |  |  | 6 |  |  |  | 1 |  |  |  | 6 |  |  |  | 316 |  |  |  | 162 |
DZD 2 |  |  | 618 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
CNY |  |  | 1,954 |  |  |  | 171 |  |  |  | 457 |  |  |  | 161 |  |  |  | 458 |  |  |  | 491 |
UZS 3 |  |  | 121,053 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
RWF 4 |  |  | 857 |  |  |  | — |  |  |  | 706 |  |  |  | — |  |  |  | 646 |  |  |  | — |
THB 5 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 535 |  |  |  | — |
MMK 6 |  |  | 84 |  |  |  | — |  |  |  | 84 |  |  |  | — |  |  |  | — |  |  |  | — |
TZS 7 |  |  | — |  |  |  | 2,876 |  |  |  | 6,919 |  |  |  | — |  |  |  | 1,019 |  |  |  | — |
BWP 8 |  |  | 897 |  |  |  | — |  |  |  | 911 |  |  |  | — |  |  |  | 212 |  |  |  | — |
HKD |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 268 |  |  |  | — |  |  |  | 198 |
BDT 9 |  |  | 39,494 |  |  |  | — |  |  |  | 18,897 |  |  |  | — |  |  |  | — |  |  |  | — |
PLN 10 |  |  | 26 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 26 |  |  |  | — |
VND 11 |  |  | 467,272 |  |  |  | — |  |  |  | 271,563 |  |  |  | — |  |  |  | 242,370 |  |  |  | — |
XAF 12 |  |  | 666 |  |  |  | — |  |  |  | 97,411 |  |  |  | — |  |  |  | 16,229 |  |  |  | — |
SGD |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6 |  |  |  | 284,000 |
| 1 | Special Drawing Rights.
| 2 | Algeria Dinar.
| 3 | Uzbekistan Sum.
| 4 | Rwanda Franc.
| 5 | Thailand Bhat.
| 6 | Myanmar Kyat.
| 7 | Tanzanian Shilling.
| 8 | Botswana Pula.
| 9 | Bangladesh Taka.
| 10 | Polish Zloty.
| 11 | Vietnam Dong.
| 12 | Central African 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, 2018, 2019 and 2020, 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 |
2018.12.31 |  | 10% |  | ￦ | 12 |  |  | ￦ | 898 |
| -10% |  |  | (12 | ) |  |  | (898 | )
2019.12.31 |  | 10% |  | ￦ | 24 |  |  | ￦ | 613 |
| -10% |  |  | (24 | ) |  |  | (613 | )
2020.12.31 |  | 10% |  | ￦ | 2,811 |  |  | ￦ | 3,472 |
| -10% |  |  | (2,811 | ) |  |  | (3,472 | )
Interest rate risk [Member] |
Statement [LineItems] |
Summary of Exposures to Risks, Effects on Profit before Income Tax and Shareholders' Equity | As at December 31, 2018, 2019 and 2020, 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 |
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 | )
2020.12.31 |  |  | + 100 bp |  |  | ￦ | 973 |  |  | ￦ | 18,584 |
|  | - 100 bp |  |  |  | (973 | ) |  |  | (19,377 | )

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