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Trade and Other Receivables | 12 Months Ended
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Dec. 31, 2023
Text block [abstract] |
Trade and Other Receivables |
6 | Trade and Other Receivables
(1) Trade and other receivables as of December 31, 2022 and 2023, are as follows:
|  | December 31, 2022 |
(in millions of Korean won) |  | Total amounts |  |  | Provision for impairment |  |  | Present value discount |  |  | Carrying amount |
Current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade receivables |  | ￦ | 3,439,542 |  |  | ￦ | (342,539 | ) |  | ￦ | (6,926 | ) |  | ￦ | 3,090,077 |
Other receivables |  |  | 3,092,261 |  |  |  | (82,243 | ) |  |  | (2,023 | ) |  |  | 3,007,995 |
Total |  | ￦ | 6,531,803 |  |  | ￦ | (424,782 | ) |  | ￦ | (8,949 | ) |  | ￦ | 6,098,072 |
Non-current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade receivables |  | ￦ | 408,098 |  |  | ￦ | (1,199 | ) |  | ￦ | (11,540 | ) |  | ￦ | 395,359 |
Other receivables |  |  | 1,249,096 |  |  |  | (136,300 | ) |  |  | (17,109 | ) |  |  | 1,095,687 |
Total |  | ￦ | 1,657,194 |  |  | ￦ | (137,499 | ) |  | ￦ | (28,649 | ) |  | ￦ | 1,491,046 |
|  | December 31, 2023 |
(in millions of Korean won) |  | Total amounts |  |  | Provision for impairment |  |  | Present value discount |  |  | Carrying amount |
Current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade receivables |  | ￦ | 3,596,899 |  |  | ￦ | (330,002 | ) |  | ￦ | (9,165 | ) |  | ￦ | 3,257,732 |
Other receivables |  |  | 3,990,900 |  |  |  | (76,089 | ) |  |  | (2,254 | ) |  |  | 3,912,557 |
Total |  | ￦ | 7,587,799 |  |  | ￦ | (406,091 | ) |  | ￦ | (11,419 | ) |  | ￦ | 7,170,289 |
Non-current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade receivables |  | ￦ | 318,429 |  |  | ￦ | (1,288 | ) |  | ￦ | (19,476 | ) |  | ￦ | 297,665 |
Other receivables |  |  | 1,227,929 |  |  |  | (107,547 | ) |  |  | (13,879 | ) |  |  | 1,106,503 |
Total |  | ￦ | 1,546,358 |  |  | ￦ | (108,835 | ) |  | ￦ | (33,355 | ) |  | ￦ | 1,404,168 |
(2) The fair values of trade and other receivables with original maturities less than one year are equal to their carrying amounts because the discounting effect is immaterial. The fair value of trade and other receivables with original maturities longer than one year, which are mainly from sales of goods, is determined by discounting the expected future cash flow at the weighted average interest rate. (3) Details of changes in provision for impairment for the years ended December 31, 2022 and 2023, are as follows:
|  | 2022 |  |  | 2023 |
(in millions of Korean won) |  | Trade receivables |  |  | Other receivables |  |  | Trade receivables |  |  | Other receivables |
Beginning balance |  | ￦ | 349,725 |  |  | ￦ | 201,387 |  |  | ￦ | 343,738 |  |  | ￦ | 218,543 |
Provision |  |  | 64,522 |  |  |  | 65,941 |  |  |  | 69,972 |  |  |  | 114,501 |
Reversal |  |  | — |  |  |  | (850 | ) |  |  | — |  |  |  | (14,941 | )
Write-off/transfer |  |  | (69,430 | ) |  |  | (49,904 | ) |  |  | (69,246 | ) |  |  | (129,108 | )
Acquisition and disposition of businesses |  |  | (43 | ) |  |  | — |  |  |  | (310 | ) |  |  | (17 | )
Others |  |  | (1,036 | ) |  |  | 1,969 |  |  |  | (12,864 | ) |  |  | (5,342 | )
Ending balance |  | ￦ | 343,738 |  |  | ￦ | 218,543 |  |  | ￦ | 331,290 |  |  | ￦ | 183,636 |
Provisions for impairment on trade and other receivables are recognized as operating expenses and finance costs. (4) Details of other receivables as of December 31, 2022 and 2023, are as follows:
(in millions of Korean won) |  | December 31, 2022 |  |  | December 31, 2023 |
Loans |  | ￦ | 98,953 |  |  | ￦ | 51,854 |
Receivables 1 |  |  | 2,668,545 |  |  |  | 3,539,742 |
Accrued income |  |  | 32,218 |  |  |  | 43,920 |
Refundable deposits |  |  | 339,450 |  |  |  | 299,935 |
Loans receivable |  |  | 1,013,428 |  |  |  | 1,067,005 |
Finance lease receivables |  |  | 105,690 |  |  |  | 141,883 |
Others |  |  | 63,941 |  |  |  | 58,357 |
Less: Provision for impairment |  |  | (218,543 | ) |  |  | (183,636 | )
|  | ￦ | 4,103,682 |  |  | ￦ | 5,019,060 |
1 | As of December 31, 2023, credit sales asset of ￦ 2,696,505 million (December 31, 2022: ￦ 1,960,579 million) held by BC Card Co., Ltd. are included.
(5) The maximum exposure of trade and other receivables to credit risk is the carrying amount of each class of receivables mentioned above as of December 31, 2023. (6) For trade receivables that meet certain criteria, the Group sells those on a periodic basis to an Special Purpose Company(SPC) and records them at financial assets as fair value through other comprehensive income considering the trade receivables business model for managing the asset and the cash flow characteristics of the contract.

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- Definition The disclosure of trade and other receivables. [Refer: Trade and other receivables] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23 + Details
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