40.1 Changes in Accumulated Non-controlling Interests

Profit or loss allocated to non-controlling interests and accumulated non-controlling interests of subsidiaries that are material to the Group for the years ended December 31, 2020, 2021 and 2022 are as follows:


(In millions of Korean won)	December 31, 2020
(In millions of Korean won)	Non- controlling Interests rate (%)			Accumulated non-controlling interests at the beginning of the year		Profit or loss allocated to non-controlling interests			Dividend s paid to non- controlling interests			Others			Accumulated non-controlling interests at the end of the year
KT Skylife Co., Ltd.		49.7	%	￦	375,906	￦	22,171		￦	(8,279	)	￦	(898	)	￦	388,900
BC Card Co., Ltd.		30.5	%		417,475		9,899			(22,787	)		7,239			411,826
KT Powertel Co., Ltd.		55.2	%		54,276		2,151			(478	)		(202	)		55,747
KT Alpha Co., Ltd. (KT Hitel Co.,Ltd.)		32.9	%		54,709		(1,840	)		—			(2,563	)		50,306
KT Telecop Co., Ltd.		13.2	%		3,650		152			—			(208	)		3,594


(In millions of Korean won)	December 31, 2021
(In millions of Korean won)	Non- controlling Interests rate (%)			Accumulated non-controlling interests at the beginning of the year		Profit or loss allocated to non-controlling interests		Dividend s paid to non- controlling interests			Others			Accumulated non-controlling interests at the end of the year
KT Skylife Co., Ltd.		49.7	%	￦	388,900	￦	24,795	￦	(8,279	)	￦	5,279		￦	410,695
BC Card Co., Ltd.		30.5	%		411,826		34,496		(6,434	)		59,040			498,928
KTIS Corporation		68.6	%		120,071		17,715		(1,837	)		(709	)		135,240
KTCS Corporation		79.7	%		129,502		21,394		(2,211	)		(3,574	)		145,111
Nasmedia, Co., Ltd.		56.0	%		112,549		15,185		(3,808	)		255			124,181


(In millions of Korean won)	December 31, 2022
(In millions of Korean won)	Non- controlling Interests rate (%)			Accumulated non-controlling interests at the beginning of the year		Profit or loss allocated to non-controlling interests		Dividend s paid to non- controlling interests			Others			Accumulated non-controlling interests at the end of the year
KT Skylife C o., Ltd .		49.8	%	￦	410,695	￦	7,127	￦	(8,284	)	￦	13,651		￦	423,189
BC Card Co., Ltd.		30.5	%		498,928		47,909		(7,641	)		(14,539	)		524,657
KTIS Corporation		66.7	%		135,240		14,965		(2,226	)		(6,577	)		141,402
KTCS Corporation		78.3	%		145,111		18,888		(2,721	)		(7,397	)		153,881
Nasmedia Co., Ltd		56.0	%		124,181		15,610		(4,187	)		(179	)		135,425

.2 Summarized Financial Information on Subsidiaries

The summarized financial information for each subsidiary with non-controlling interests that are material to the Group, before inter-company eliminations, is as follows:

Summarized consolidated statements of financial position as at December 31, 2020, 2021 and 2022, are as follows:


	December 31, 2020
(in millions of Korean won)	KT Skylife Co., Ltd.			BC Card Co., Ltd.			KT Powertel Co., Ltd.			KT Alpha Co., Ltd. (KT Hitel Co., Ltd.)
Non-controlling Interests rate (%)		49.7	%		30.5	%		55.2	%		32.9	%
Current assets	￦	480,450		￦	1,785,914		￦	90,056		￦	140,948
Non-current assets		439,026			1,298,484			29,638			148,001
Current liabilities		153,236			1,602,667			17,045			74,045
Non-current liabilities		21,803			176,083			1,788			18,554
Equity		744,437			1,305,648			100,861			196,350
Operating revenue		706,631			3,387,640			65,897			350,231
Profit for the year		58,190			39,455			3,809			2,080
Total comprehensive income (loss)		55,647			61,796			3,442			(8,700	)
Cash flows from operating activities		160,934			(119,163	)		6,011			62,521
Cash flows from investing activities		(105,293	)		58,042			(3,353	)		(58,186	)
Cash flows from financing activities		(19,650	)		22,790			(1,515	)		(1,856	)
Net increase (decrease) in cash and cash equivalents		35,991			(38,331	)		1,143			2,479
Cash and cash equivalents at beginning of year		63,850			279,162			6,217			37,043
Exchange differences		(7	)		(247	)		—			(83	)
Cash and cash equivalents at end of year		99,834			240,584			7,360			39,439


	December 31, 2021
(in millions of Korean won)	KT Skylife Co., Ltd.			BC Card Co., Ltd.			KTIS Corporation			KTCS Corporation			Nasmedia, Co., Ltd.
Non-controlling Interests rate (%)		49.7	%		30.5	%		68.6	%		79.7	%		56.0	%
Current assets	￦	408,484		￦	1,991,152		￦	124,420		￦	302,953		￦	409,345
Non-current assets		867,161			1,942,275			244,941			113,797			81,049
Current liabilities		249,676			1,658,476			103,927			189,641			248,648
Non-current liabilities		220,018			822,528			73,691			44,530			19,970
Equity		805,951			1,452,423			191,743			182,579			221,776
Operating revenue		772,950			3,580,970			487,801			968,499			125,876
Profit for the year		62,309			120,308			24,944			19,034			27,120
Total comprehensive income		74,995			122,578			28,669			16,914			27,991
Cash flows from operating activities		102,947			(157,645	)		49,011			6,945			44,500
Cash flows from investing activities		(352,116	)		(283,313	)		(27,143	)		(1,039	)		(16,966	)
Cash flows from financing activities		230,010			526,563			(23,126	)		(16,622	)		(9,843	)
Net increase (decrease) in cash and cash equivalents		(19,159	)		85,605			(1,258	)		(10,716	)		17,691
Cash and cash equivalents at beginning of year		99,834			240,584			31,779			75,440			53,720
Exchange differences		(3	)		293			—			(840	)		(15	)
Cash and cash equivalents at end of year		80,672			326,482			30,521			63,884			71,396


	December 31, 2022
(in millions of Korean won)	KT Skylife Co., Ltd.			BC Card Co., Ltd.			KTIS Corporation			KTCS Corporation			Nasmedia, Co., Ltd.
Non-controlling Interests rate (%)		49.8	%		30.5	%		66.7	%		78.3	%		56.0	%
Current assets	￦	420,701		￦	3,152,622		￦	102,121		￦	296,209		￦	435,359
Non-current assets		938,465			2,513,453			294,087			123,517			81,586
Current liabilities		274,637			2,879,551			103,698			188,379			261,381
Non-current liabilities		229,042			1,229,649			95,506			40,240			14,349
Equity		855,487			1,556,875			197,004			191,107			241,215
Operating revenue		1,038,468			3,897,090			536,229			1,031,010			153,210
Profit for the year		20,941			148,341			15,917			17,634			27,691
Total comprehensive income		34,485			143,055			13,502			17,500			26,996
Cash flows from operating activities		176,407			(798,043	)		13,809			19,423			22,015
Cash flows from investing activities		(78,928	)		(7,733	)		9,813			13,245			3,845
Cash flows from financing activities		(79,455	)		914,441			(29,199	)		(35,578	)		(11,136	)
Net increase (decrease) in cash and cash equivalents		18,024			108,665			(5,577	)		(2,910	)		14,724
Cash and cash equivalents at beginning of year		80,672			326,482			30,521			63,884			71,396
Exchange differences		(1	)		(100	)		—			840			13
Cash and cash equivalents at end of year		98,695			435,047			24,944			61,814			86,133

40.3 Transactions with Non-controlling Interests

The effect of changes in the ownership interest on the equity attributable to owners of the Group for the years ended December 31, 2020, 2021 and 2022 is summarized as follows:


(in millions of Korean won)	2020		2021		2022
Carrying amount of non-controlling interests acquired	￦	1,750	￦	14,702	￦	19,272
Consideration paid to non-controlling interests		9,878		1,095		69,652

Effect of changes in equity (net amount)	￦	11,628	￦	15,797	￦	88,924