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Investments in Associates and Joint Ventures (Tables)

12 Months Ended

Dec. 31, 2020

Text block [abstract]

Summary of Details of Associates

Details of associates as at December 31, 2019 and 2020, are as follows:

		Percentage of ownership (%)								Location				Closing month
		2019				2020
Korea Information & Technology Fund			33.3	%			33.3	%			Korea				December 31, 2019, December 31, 2020
KT-IBKC Future Investment Fund 11			50.0	%			50.0	%			Korea				December 31, 2019, December 31, 2020
KT-CKP New Media Investment Fund			49.7	%			—				Korea				December 31, 2019, December 31, 2020
K Bank Inc.			10.0	%			34.0	%			Korea				December 31, 2019, December 31, 2020
Hyundai Robotics Co., Ltd.2			—				10.0	%			Korea				December 31, 2019, December 31, 2020

1 At the end of the reporting period, although the Group owns 50% ownership, the equity method of accounting has been applied as the Group, which is a limited partner of the investment fund, because the Group cannot participate in determining the operating and financial policies.

2 At the end of the reporting period, although the Group has less than 20% ownership in ordinary share, this entity is included in investments in associates as the Group has a significant influence in determining the operating and financial policies.

Summary of Changes in Investments in Associates and Joint Ventures

Changes in investments in associates and joint ventures for the years ended December 31, 2019 and 2020, are as follows:

		2019
(In millions of Korean won)		Beginning				Acquisition (Disposal)				Share of net profit from associates and joint ventures1				Others				Ending
Korea Information & Technology Fund		￦	148,255			￦	—			￦	17,956			￦	(2,236	)		￦	163,975
KT-SB Venture Investment Fund			4,470				(4,470	)			—				—				—
KT-IBKC Future Investment Fund 1			9,961				3,750				389				—				14,100
KT-CKP New Media Investment Fund			281				(174	)			27				—				134
K Bank Inc.			52,655				21,782				(28,865	)			(414	)			45,158
Others1			56,785				(7,867	)			7,241				(11,866	)			44,293
		￦	272,407			￦	13,021			￦	(3,252	)		￦	(14,516	)		￦	267,660

		2020
(In millions of Korean won)		Beginning				Acquisition (Disposal)				Share of net profit from associates and joint ventures1				Others				Ending
Korea Information & Technology Fund		￦	163,975			￦	—			￦	12,205			￦	(6,025	)		￦	170,155
KT-IBKC Future Investment Fund 1			14,100				—				2,090				—				16,190
KT-CKP New Media Investment Fund			134				(134	)			—				—				—
K Bank Inc.			45,158				195,011				(30,209	)			(1,688	)			208,272
Hyundai Robotics Co., Ltd.			—				50,000				(64	)			1,000				50,936
Others1			44,293				28,400				34,298				5,337				112,328
		￦	267,660			￦	273,277			￦	18,320			￦	(1,376	)		￦	557,881

1 KT investment Co., Ltd., a subsidiary of the Group, recognized its share in net profit from associates and joint ventures as operating revenue and expense. These include its share in net gain from associates and joint ventures of ￦ 279 million (2018: net loss of ￦ 445 million, 2019: net gain of ￦ 52 million) recognized as operating revenue during the period.

Summary of Financial Information of Associates and Joint Ventures

Summarized financial information of associates and joint ventures as at and for the years ended December 31, 2019 and 2020, is as follows:

(In millions of Korean won)		December 31, 2019
		Current assets				Non-current assets				Current liabilities				Non-current liabilities
Korea Information & Technology Fund		￦	113,233			￦	378,691			￦	—			￦	—
KT-IBKC Future Investment Fund 1			28,200				—				—				—
KT-CKP New Media Investment Fund			3				267				—				—
K Bank Inc.			2,480,065				78,566				2,350,375				3,784

(In millions of Korean won)		December 31, 2020
		Current assets				Non-current assets				Current liabilities				Non-current liabilities
Korea Information & Technology Fund		￦	107,652			￦	402,812			￦	—			￦	—
KT-IBKC Future Investment Fund 1			32,379				—				—				—
K Bank Inc.			4,255,620				74,193				3,752,838				88,155
Hyundai Robotics Co., Ltd.			315,886				125,619				80,615				59,324

(In millions of Korean won)		2019
		Operating revenue				Profit (loss) for the year				Other comprehensive income(loss)				Total comprehensive income(loss)				Dividends received from associates
Korea Information & Technology Fund		￦	70,577			￦	53,867			￦	6,132			￦	59,999			￦	4,280
KT-IBKC Future Investment Fund 1			1,694				779				—				779				—
KT-CKP New Media Investment Fund			56				55				—				55				—
K Bank Inc.			92,720				(100,773	)			(23	)			(100,796	)			—

(In millions of Korean won)		2020
		Operating revenue				Profit (loss) for the year				Other comprehensive income(loss)				Total comprehensive income(loss)				Dividends received from associates
Korea Information & Technology Fund		￦	54,473			￦	36,615			￦	9,647			￦	46,262			￦	9,241
KT-IBKC Future Investment Fund 1			6,551				4,179				—				4,179				—
K Bank Inc.			80,301				(105,374	)			(1,126	)			(106,500	)			—
Hyundai Robotics Co., Ltd.			195,311				(642	)			11,573				10,931				—

Summary of Reconciliation of Carrying Amount of Interests in the Associates and Joint Ventures

Details of a reconciliation of the summarized financial information to the carrying amount of interests in the associates and joint ventures as at and for the years end December 31, 2019 and 2020, are as follows:

(In millions of Korean won)		December 31, 2019
		Net assets (a)				Percentage of ownership (b)				Share in net assets (c)=(a)x(b)				Intercompany transaction and others (d)				Book amount (c)+(d)
Korea Information & Technology Fund		￦	491,924				33.30	%		￦	163,975			￦	—			￦	163,975
KT-IBKC Future Investment Fund 1			28,200				50.00	%			14,100				—				14,100
KT-CKP New Media Investment Fund			270				49.70	%			134				—				134
K Bank Inc.1			204,472				10.00	%			45,158				—				45,158

1 12.1% of non-voting convertible stock are excluded from percentage of ownership for K Bank Inc.

(In millions of Korean won)		December 31, 2020
		Net assets (a)				Percentage of ownership (b)				Share in net assets (c)=(a)x(b)				Intercompany transaction and others (d)				Book amount (c)+(d)
Korea Information & Technology Fund		￦	510,464				33.30	%		￦	170,155			￦	—			￦	170,155
KT-IBKC Future Investment Fund 1			32,379				50.00	%			16,190				—				16,190
K Bank Inc.1			488,819				34.00	%			166,198				42,074				208,272
Hyundai Robotics Co., Ltd.			301,566				10.00	%			30,157				20,779				50,936

1 12.1% of non-voting convertible stock are excluded from percentage of ownership for K Bank Inc.

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- Definition

The disclosure of the reconciliation between the investment derecognised and the assets and liabilities recognised on the transition from the equity method to accounting for assets and liabilities.

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