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Trade and Other Receivables

12 Months Ended

Dec. 31, 2023

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.