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Borrowings (Tables)

12 Months Ended

Dec. 31, 2020

Text block [abstract]

Summary of Borrowings

Debentures

(In millions of Korean won and thousands of foreign currencies)								December 31, 2019								December 31, 2020
Type		Maturity				Annual interest rates		Foreign currency				Korean won				Foreign currency				Korean won
MTNP notes1			Sept. 7, 2034			6.50%			USD 100,000			￦	115,780				USD 100,000			￦	108,800
MTNP notes			July 18, 2026			2.50%			USD 400,000				463,120				USD 400,000				435,200
MTNP notes			Aug. 7, 2022			2.63%			USD 400,000				463,120				USD 400,000				435,200
FR notes			Aug. 20, 2020			—			USD 200,000				231,560				—				—
FR notes2			Aug. 20, 2023			LIBOR(3M)+0.900%			USD 100,000				115,780				USD 100,000				108,800
MTNP notes			July 6, 2020			—			JPY 4,000,000				42,539				—				—
MTNP notes			July 6, 2021			0.38%			JPY 16,000,000				170,155				JPY 16,000,000				168,682
MTNP notes			Nov. 13, 2020			—			JPY 30,000,000				319,041				—				—
MTNP notes			July 19, 2022			0.22%			JPY 29,600,000				314,787				JPY 29,600,000				312,061
MTNP notes			July 19, 2024			0.33%			JPY 400,000				4,254				JPY 400,000				4,217
FR notes2			Nov. 1, 2024			LIBOR(3M)+0.980%			USD 350,000				405,230				USD 350,000				380,800
FR notes2			June 19, 2023			SOR(6M)+0.500%			—				—				SGD 284,000				233,510
MTNP notes			Sept. 1, 2025			1.00%			—				—				USD 400,000				435,200
The 180-2rd Public bond			Apr. 26, 2021			4.71%			—				380,000				—				380,000
The 181-3rd Public bond			Aug. 26, 2021			4.09%			—				250,000				—				250,000
The 182-2nd Public bond			Oct. 28, 2021			4.31%			—				100,000				—				100,000
The 183-2nd Public bond			Dec. 22, 2021			4.09%			—				90,000				—				90,000
The 183-3rd Public bond			Dec. 22, 2031			4.27%			—				160,000				—				160,000
The 184-2nd Public bond			Apr. 10, 2023			2.95%			—				190,000				—				190,000
The 184-3rd Public bond			Apr. 10, 2033			3.17%			—				100,000				—				100,000
The 185-2nd Public bond			Sept. 16, 2020			—			—				300,000				—				—
The 186-3rd Public bond			June 26, 2024			3.42%			—				110,000				—				110,000
The 186-4th Public bond			June 26, 2024			3.70%			—				100,000				—				100,000
The 187-3rd Public bond			Sept. 2, 2024			3.31%			—				170,000				—				170,000
The 187-4th Public bond			Sept. 2, 2034			3.55%			—				100,000				—				100,000
The 188-1st Public bond			Jan. 29, 2020			—			—				160,000				—				—
The 188-2nd Public bond			Jan. 29, 2025			2.45%			—				240,000				—				240,000
The 188-3rd Public bond			Jan. 29, 2035			2.71%			—				50,000				—				50,000
The 189-2nd Public bond			Jan. 28, 2021			1.95%			—				130,000				—				130,000
The 189-3rd Public bond			Jan. 28, 2026			2.20%			—				100,000				—				100,000
The 189-4th Public bond			Jan. 28, 2036			2.35%			—				70,000				—				70,000
The 190-1st Public bond			Jan. 29, 2021			2.55%			—				110,000				—				110,000
The 190-2nd Public bond			Jan. 30, 2023			2.75%			—				150,000				—				150,000
The 190-3rd Public bond			Jan. 30, 2028			2.95%			—				170,000				—				170,000
The 190-4th Public bond			Jan. 30, 2038			2.93%			—				70,000				—				70,000
The 191-1st Public bond			Jan. 14, 2022			2.05%			—				220,000				—				220,000
The 191-2nd Public bond			Jan. 15, 2024			2.09%			—				80,000				—				80,000
The 191-3rd Public bond			Jan. 15, 2029			2.16%			—				110,000				—				110,000
The 191-4th Public bond			Jan. 14, 2039			2.21%			—				90,000				—				90,000
The 192-1st Public bond			Oct. 11, 2022			1.55%			—				340,000				—				340,000
The 192-2nd Public bond			Oct. 11, 2024			1.58%			—				100,000				—				100,000
The 192-3rd Public bond			Oct. 11, 2029			1.62%			—				50,000				—				50,000
The 192-4th Public bond			Oct. 11, 2039			1.67%			—				110,000				—				110,000
The 193-1st Public bond			June 16, 2023			1.17%			—				—				—				150,000
The 193-2nd Public bond			June 17, 2025			1.43%			—				—				—				70,000
The 193-3rd Public bond			June 17, 2030			1.61%			—				—				—				20,000
The 193-4th Public bond			June 15, 2040			1.71%			—				—				—				60,000
The 148th Won-denominated unsecured bond			June 23, 2023			1.51%			—				—				—				100,000
Subtotal													7,045,366								6,962,470
Less: Current portion													(1,052,032	)							(1,228,283	)
Discount on bonds													(20,780	)							(19,847	)
Total												￦	5,972,554							￦	5,714,340

1 As at December 31, 2020, the Controlling Company has outstanding notes in the amount of USD 100 million with fixed interest rates under Medium Term Note Program (“MTNP”) registered in the Singapore Stock Exchange, which allowed issuance of notes of up to USD 2,000 million. However, the MTN Program has been suspended since 2007.

2 Libor (3M) and SOR (6M) are approximately 0.238% and 0.185%, respectively as at December 31, 2020.

Summary of Korean Won and Foreign Currency Borrowings

Convertible bonds

(In millions of Korean won and thousands of foreign currencies)

December 31, 2019

Type

Issuance date

Maturity

Annual interest rate

December 31, 2019

December 31, 2020

The 1st CB(Private)1,2

Jun. 5, 2020

Jun. 5, 2025

0.00

%

￦

—

￦

8,000

Redemption premium

—

2,267

Bond discount issuance

—

(4,644

)

Subtotal

￦

—

￦

5,623

Current portion

￦

—

￦

—

Total

￦

—

￦

5,623

1 Common shares of Storywiz are subject to conversion (appraisal period: June 5, 2021~ May 4, 2025).

2 Nominal interest rate and maturity yield is approximately 0% and 5% and will be settled on maturity

Summary of Short-term Borrowings

Short-term borrowings

(In millions of Korean won)						December 31, 2019				December 31, 2020
Type		Financial institution		Annual interest rates
Operational		NongHyup Bank		1.740% ~ 2.360%		￦	15,000			￦	40,189
		Shinhan Bank		2.460% ~ 2.960%			57,500				22,500
		Shinhan Bank		CD91+1.431%			—				10,000
		Woori Bank		3.57%			—				1,900
		Korea Development Bank		3.34%			10,000				10,000
		SooHyup Bank		—			1,000				—
		Industrial Bank of Korea		1.74%			—				200
		Hana Bank		4.20%			—				11,000
		Total				￦	83,500			￦	95,789

Summary of Long-term Borrowings

Long-term borrowings

(In millions of Korean won and thousands of foreign currencies)								December 31, 2019								December 31, 2020
Financial institution		Type		Annual interest rates				Foreign currency				Korean won				Foreign currency				Korean won
Export-Import Bank of Korea		Inter-Korean Cooperation Fund1			1.50%				—			￦	3,454				—			￦	2,961
Industrial Bank of Korea		General loans			2.98%				—				6,000				—				6,000
Shinhan Bank		General loans			1.94%				—				5,000				—				5,000
		Facility loans2			LIBOR(3M)+1.340%				USD 25,918				30,008				USD 25,918				28,199
		General loans2			LIBOR(3M)+1.650%				USD 3,000				3,473				USD 8,910				9,694
		General loans2			LIBOR(3M)+2.130%				—				—				USD 25,000				27,200
CA-CIB		Long-term CP			1.26%				—				—				—				100,000
NongHyup Bank		Facility loans			2.00%				—				79				—				54
Korea Development Bank		General loans			3.02%				—				10,000				—				10,000
		General loans			3.31%				—				30,000				—				30,000
Others		Kookmin Bank and other2			LIBOR(3M)+1.850%				USD 87,940				101,816				USD 48,855				53,155
					—				—				950				—				—
Subtotal												￦	190,780							￦	272,263
Less: Current portion												￦	(50,192)							￦	(94,042)
Total												￦	140,588							￦	178,221

1 The above Inter-Korean Cooperation Fund is repayable in installments over 13 years after a seven-year grace period.

2 LIBOR(3M) is approximately 0.238% as at December 31, 2020.

Summary of Repayment of Borrowings Including the Current Liabilities

Repayment schedule of the Group’s borrowings including the portion of current liabilities as at December 31, 2020 is as follows:

(In millions of Korean won)
		Debentures												Borrowings												Total
		In local currency				In foreign currency				Sub- total				In local currency				In foreign currency				Sub- total
Jan 1, 2021 ~ Dec 31, 2021		￦	1,060,000			￦	168,682			￦	1,228,682			￦	147,307			￦	42,524			￦	189,831			￦	1,418,513
Jan 1, 2022 ~ Dec 31, 2022			560,000				747,261				1,307,261				518				38,830				39,348				1,346,609
Jan 1, 2023 ~ Dec 31, 2023			590,000				342,310				932,310				100,500				36,894				137,394				1,069,704
Jan 1, 2024 ~ Dec 31, 2024			460,000				385,017				845,017				493				—				493				845,510
After Jan. 1, 2025			1,678,000				979,200				2,657,200				986				—				986				2,658,186
		￦	4,348,000			￦	2,622,470			￦	6,970,470			￦	249,804			￦	118,248			￦	368,052			￦	7,338,522

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