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Cash Generated from Operations (Tables) | 12 Months Ended
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Dec. 31, 2023
Text block [abstract] |
Summary of Cash Flows from Operating Activities |
| (1) | Cash flows from operating activities for the years ended December 31, 2021, 2022 and 2023, are as follows:
(in millions of Korean won) |  | 2021 |  |  | 2022 |  |  | 2023 |
1. Profit for the year |  | ￦ | 1,459,395 |  |  | ￦ | 1,385,635 |  |  | ￦ | 972,182 |
2. Adjustments to reconcile net income |  |  |  |  |  |  |  |  |  |  |  |
Income tax expense |  |  | 519,016 |  |  |  | 505,757 |  |  |  | 335,367 |
Interest income 1 |  |  | (300,900 | ) |  |  | (340,794 | ) |  |  | (392,580 | )
Interest expense 1 |  |  | 268,847 |  |  |  | 320,914 |  |  |  | 410,566 |
Dividends income 2 |  |  | (21,525 | ) |  |  | (14,121 | ) |  |  | (59,758 | )
Depreciation |  |  | 2,643,894 |  |  |  | 2,687,191 |  |  |  | 2,773,152 |
Amortization of intangible assets |  |  | 604,744 |  |  |  | 627,261 |  |  |  | 691,909 |
Depreciation of right-of-use assets |  |  | 398,716 |  |  |  | 396,214 |  |  |  | 402,737 |
Provision for severance benefits (defined benefits) |  |  | 253,491 |  |  |  | 240,506 |  |  |  | 196,027 |
Impairment losses on trade receivables |  |  | 105,344 |  |  |  | 132,102 |  |  |  | 175,244 |
Share of net profit or loss of associates and joint ventures |  |  | (116,061 | ) |  |  | 16,821 |  |  |  | 44,323 |
Loss(gain) on disposal of associates and joint ventures |  |  | 1 |  |  |  | (38,024 | ) |  |  | (6,982 | )
Loss(gain) on the disposal of subsidiaries |  |  | 13,483 |  |  |  | (216,591 | ) |  |  | (28,825 | )
Loss(gain) on disposal of right-of-use assets |  |  | 8,319 |  |  |  | (978 | ) |  |  | (1,465 | )
Impairment losses on assets held for sale |  |  | 11 |  |  |  | — |  |  |  | — |
Impairment loss on property and equipment and investment in properties |  |  | 2,115 |  |  |  | 16,094 |  |  |  | 7,871 |
Loss (gain) on disposal of property and equipment and investment in properties 3 |  |  | 17,410 |  |  |  | (66,317 | ) |  |  | 511 |
Loss on disposal of intangible assets |  |  | 2,159 |  |  |  | 6,393 |  |  |  | 3,601 |
Loss on impairment of intangible assets |  |  | 3,747 |  |  |  | 30,674 |  |  |  | 236,106 |
Loss on foreign currency translation |  |  | 180,921 |  |  |  | 157,017 |  |  |  | 83,899 |
G ain on valuation and settlement of derivatives, net |  |  | (235,130 | ) |  |  | (205,381 | ) |  |  | (37,249 | )
Gain on disposal of financial assets at fair value through profit or loss |  |  | (29,974 | ) |  |  | (2,347 | ) |  |  | (2,225 | )
Loss(Gain) on valuation of financial assets at fair value through profit or loss |  |  | (64,660 | ) |  |  | 44,833 |  |  |  | 13,920 |
Loss(gain) on disposal of financial assets at amortized cost 4 |  |  | (35 | ) |  |  | 3 |  |  |  | 1 |
Others |  |  | 84,625 |  |  |  | (49,891 | ) |  |  | 158,820 |
3. Change in operating assets and liabilities, net of effects from purchase of controlled entity and sale of engineering division |  |  |  |  |  |  |  |  |  |  |  |
Decrease(increase) in trade receivables |  |  | 327,031 |  |  |  | (43,787 | ) |  |  | (124,023 | )
Increase in other receivables |  |  | (328,610 | ) |  |  | (1,598,216 | ) |  |  | (1,085,527 | )
Decrease(increase) in other current assets |  |  | (89,230 | ) |  |  | (101,947 | ) |  |  | 250,569 |
I ncrease in other non-current assets |  |  | (143,087 | ) |  |  | (120,054 | ) |  |  | (86,030 | )
Decrease(increase) in inventories |  |  | 32,798 |  |  |  | (179,255 | ) |  |  | (317,531 | )
Increase(decrease) in trade payables |  |  | 289,044 |  |  |  | (368,355 | ) |  |  | 121,515 |
Increase in other payables |  |  | 207,583 |  |  |  | 1,103,113 |  |  |  | 829,220 |
Increase(decrease) in other current liabilities |  |  | 107,993 |  |  |  | (30,375 | ) |  |  | 414,436 |
Decrease in other non-current liabilities |  |  | (14,915 | ) |  |  | (1,015 | ) |  |  | (14,272 | )
Decrease in provisions |  |  | (4,668 | ) |  |  | (22,115 | ) |  |  | (5,083 | )
Increase(decrease) in deferred revenue |  |  | 3,696 |  |  |  | (384 | ) |  |  | 905 |
Decrease(increase) in plan assets |  |  | (114,631 | ) |  |  | (90,771 | ) |  |  | 115,725 |
Payment of post-employment benefits |  |  | (241,350 | ) |  |  | (343,931 | ) |  |  | (329,861 | )
4. Cash generated from operations (1+2+3) |  | ￦ | 5,829,607 |  |  | ￦ | 3,835,879 |  |  | ￦ | 5,747,195 |
1 | BC Card CO., Ltd. and other subsidiaries of the Group recognize interest income and expense as operating revenue and expense, respectively, including interest income of ￦ 112,973 million (2021: ￦ 27,440 million, 2022: ￦ 68,869 million) and interest expense of ￦ 55,677 million that are recognized as operating revenue and expense, respectively, for the year ended December 31, 2023 (2021: ￦ 5,458 million, 2022: ￦ 27,060 million).
2 | BC Card Co., Ltd. Recognized dividend income as operating revenue, including dividend income of ￦ 1,759 million that is recognized as operating revenue for the year ended December 31, 2023 (2021: ￦ 1,340 million, 2022: ￦ 2,299 million).
3 | KT Estate Inc. recognized gain and loss on disposal of investment properties as operating revenue and expense, respectively, including gain on disposal of investment properties of ￦ 49,752 million that is recognized as operating revenue for the year ended December 31, 2023.
4 | KT Investment CO., Ltd. and other subsidiaries of the Group recognized gain and loss on valuation of financial assets at fair value through profit or loss as operating revenue and expense, respectively, including loss on valuation of financial assets at fair value through profit or loss of ￦ 11,112 million that is recognized as operating expense for the year ended December 31, 2023.
Summary of Significant Transactions not Affecting Cash Flows |
| (2) | Significant transactions not affecting cash flows for the years ended December 31, 2021, 2022 and 2023, are as follows:
(in millions of Korean won) |  | 2021 |  |  | 2022 |  |  | 2023 |
Reclassification of the current portion of borrowings |  | ￦ | 1,303,543 |  |  | ￦ | 1,004,818 |  |  | ￦ | 1,731,998 |
Reclassification of construction-in-progress to property and equipment |  |  | 2,916,888 |  |  |  | 3,167,965 |  |  |  | 3,123,611 |
Reclassification of accounts payable from property and equipment |  |  | (149,512 | ) |  |  | (7,055 | ) |  |  | (293,448 | )
Reclassification of accounts payable from intangible assets |  |  | 524,040 |  |  |  | (197,389 | ) |  |  | (276,491 | )
Reclassification of payable from defined benefit liabilities |  |  | 69,415 |  |  |  | (32,417 | ) |  |  | 26,246 |
Reclassification of payable from plan assets |  |  | (60,320 | ) |  |  | 28,532 |  |  |  | (24,821 | )
Disposal of treasury stock related to acquisition of financial assets |  |  | — |  |  |  | 747,161 |  |  |  | — |
Acquisition of financial assets related to disposal of a subsidiary |  |  | — |  |  |  | 250,000 |  |  |  | — |

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