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Intangible Assets | 12 Months Ended
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Dec. 31, 2024
Text block Explanatory [Abstract] |
Intangible Assets |
12 | Intangible Assets
(1) Changes in intangible assets for the years ended December 31, 2023 and 2024, are as follows:
(in millions of Korean won) |  | 2023 |
|  | Goodwill |  |  | Development costs |  |  | Software |  |  | Frequency usage rights |  |  | Others |  |  | Total |
Acquisition cost |  | ￦ | 1,037,887 |  |  |  | 1,803,687 |  |  |  | 1,156,951 |  |  |  | 2,617,707 |  |  |  | 1,532,061 |  |  |  | 8,148,293 |
Less: Accumulated amortization (including accumulated impairment loss and others) |  |  | (329,664 | ) |  |  | (1,631,831 | ) |  |  | (1,001,875 | ) |  |  | (1,129,451 | ) |  |  | (925,639 | ) |  |  | (5,018,460 | )
Beginning, net |  |  | 708,223 |  |  |  | 171,856 |  |  |  | 155,076 |  |  |  | 1,488,256 |  |  |  | 606,422 |  |  |  | 3,129,833 |
Acquisition and capital expenditure 1 |  |  | — |  |  |  | 33,078 |  |  |  | 38,603 |  |  |  | 37 |  |  |  | 238,019 |  |  |  | 309,737 |
Disposal and termination |  |  | — |  |  |  | (4,812 | ) |  |  | (397 | ) |  |  | — |  |  |  | (6,431 | ) |  |  | (11,640 | )
Amortization 2 |  |  | — |  |  |  | (63,052 | ) |  |  | (52,265 | ) |  |  | (350,276 | ) |  |  | (226,316 | ) |  |  | (691,909 | )
Impairment |  |  | (230,352 | ) |  |  | (128 | ) |  |  | (16 | ) |  |  | — |  |  |  | (5,711 | ) |  |  | (236,207 | )
Acquisition and disposition of businesses |  |  | 6,207 |  |  |  | — |  |  |  | (108 | ) |  |  | — |  |  |  | (69 | ) |  |  | 6,030 |
Others |  |  | 4,349 |  |  |  | 1,658 |  |  |  | 11,769 |  |  |  | 175 |  |  |  | 10,066 |  |  |  | 28,017 |
Ending, net |  | ￦ | 488,427 |  |  |  | 138,600 |  |  |  | 152,662 |  |  |  | 1,138,192 |  |  |  | 615,980 |  |  |  | 2,533,861 |
Acquisition cost |  | ￦ | 1,036,354 |  |  |  | 1,790,446 |  |  |  | 1,196,329 |  |  |  | 2,415,243 |  |  |  | 1,725,087 |  |  |  | 8,163,459 |
Less: Accumulated amortization (including accumulated impairment loss and others) |  |  | (547,927 | ) |  |  | (1,651,846 | ) |  |  | (1,043,667 | ) |  |  | (1,277,051 | ) |  |  | (1,109,107 | ) |  |  | (5,629,598 | )
1 | The amounts include the transferred amount from Property and Equipment account.
2 | Amounts include ￦ 52,179 million which is the changed effect of useful life from Media Contents asset.
(in millions of Korean won) |  | 2024 |
|  | Goodwill |  |  | Development costs |  |  | Software |  |  | Frequency usage rights |  |  | Others |  |  | Total |
Acquisition cost |  | ￦ | 1,036,354 |  |  |  | 1,790,446 |  |  |  | 1,196,329 |  |  |  | 2,415,243 |  |  |  | 1,725,087 |  |  |  | 8,163,459 |
Less: Accumulated amortization (including accumulated impairment loss and others) |  |  | (547,927 | ) |  |  | (1,651,846 | ) |  |  | (1,043,667 | ) |  |  | (1,277,051 | ) |  |  | (1,109,107 | ) |  |  | (5,629,598 | )
Beginning, net |  |  | 488,427 |  |  |  | 138,600 |  |  |  | 152,662 |  |  |  | 1,138,192 |  |  |  | 615,980 |  |  |  | 2,533,861 |
Acquisition and capital expenditure 1 |  |  | — |  |  |  | 12,417 |  |  |  | 23,404 |  |  |  | — |  |  |  | 185,424 |  |  |  | 221,245 |
Disposal and termination |  |  | — |  |  |  | (8,394 | ) |  |  | (2,206 | ) |  |  | — |  |  |  | (10,256 | ) |  |  | (20,856 | )
Amortization |  |  | — |  |  |  | (39,959 | ) |  |  | (50,811 | ) |  |  | (348,297 | ) |  |  | (212,582 | ) |  |  | (651,649 | )
Impairment |  |  | (211,806 | ) |  |  | — |  |  |  | (118 | ) |  |  | — |  |  |  | (27,388 | ) |  |  | (239,312 | )
Acquisition and disposition of businesses |  |  | (4,214 | ) |  |  | — |  |  |  | (116 | ) |  |  | — |  |  |  | (9,516 | ) |  |  | (13,846 | )
Others |  |  | 1,372 |  |  |  | 1,447 |  |  |  | 31,776 |  |  |  | 2,646 |  |  |  | (3,944 | ) |  |  | 33,297 |
Ending, net |  | ￦ | 273,779 |  |  |  | 104,111 |  |  |  | 154,591 |  |  |  | 792,541 |  |  |  | 537,718 |  |  |  | 1,862,740 |
Acquisition cost |  | ￦ | 1,055,180 |  |  |  | 1,763,627 |  |  |  | 1,251,365 |  |  |  | 2,415,507 |  |  |  | 1,811,079 |  |  |  | 8,296,758 |
Less: Accumulated amortization (including accumulated impairment loss and others) |  |  | (781,401 | ) |  |  | (1,659,516 | ) |  |  | (1,096,774 | ) |  |  | (1,622,966 | ) |  |  | (1,273,361 | ) |  |  | (6,434,018 | )
1 | The amounts include the transferred amount from Property and Equipment account.
(2) The carrying amount of membership rights with an indefinite useful life not subject to amortization, except for goodwill, is ￦ 203,227 million as of December 31, 2024 (December 31, 2023: ￦ 212,910 million). (3) Goodwill is allocated to the Group’s cash-generating unit which is identified by operating segments. As of December 31, 2024, goodwill allocated to each cash-generating unit is as follows:
(in millions of Korean won) |  |  |
Cash generating Unit |  | Amount |
Mobile services 1,9 |  | ￦ | 65,057 |
BC Card Co., Ltd. 2 |  |  | 41,234 |
HCN Co., Ltd. 3 |  |  | 2,630 |
GENIE Music Corporation 4 |  |  | 38,296 |
MILLIE Co., Ltd. 5 |  |  | 54,725 |
PlayD Co., Ltd. 6 |  |  | 26,225 |
KT Telecop Co., Ltd. 7 |  |  | 15,418 |
Epsilon Global Communications Pte. Ltd. 8 |  |  | — |
KT MOS Bukbu Co., Ltd and others |  |  | 30,194 |
Total |  | ￦ | 273,779 |
| 1 | The recoverable amounts of mobile services business are calculated based on value-in use calculations. These calculations use discounted cash flow projections for the next five years based on financial budgets. This growth rate does not exceed the average growth rate of the industry which the cash-generating unit belongs in. In addition, management estimated the cash flow based on past performance and its expectation of market growth, and the discount rates 7.21% used reflected specific risks relating to the relevant CGU. As a result of the
| impairment test, the Group concluded that the carrying amount of the CGU does not exceed the recoverable amount. Accordingly, the Group did not recognize an impairment loss on goodwill on mobile business for the years ended December 31, 2022, 2023 and 2024.
| 2 | The recoverable amounts of BC Card Co., Ltd. are calculated based on value-in use calculations. These calculations use discounted cash flow projections for the next five years based on financial budgets. This growth rate does not exceed the average growth rate of the industry which the cash-generating unit belongs in. In addition, management estimated the cash flow based on past performance and its expectation of market growth, and the discount rates 4.09% used reflected specific risks relating to the relevant CGU. As a result of the impairment test, the Group concluded that the carrying amount of the CGU does not exceed the recoverable amount. Accordingly, the Group did not recognize an impairment loss on goodwill on BC Card Co., Ltd. for the years ended December 31, 2022, 2023 and 2024.
| 3 | The recoverable amounts of HCN Co., Ltd. are calculated based on value-in use calculations. These calculations use discounted cash flow projections for the next five years based on financial budgets. This growth rate does not exceed the average growth rate of the industry which the cash-generating unit belongs in. The Group estimated its revenue growth rate 2.21% based on past performance and its expectation of future market changes. In addition, management estimated the cash flow based on past performance and its expectation of market growth, and the discount rates 6.97% used reflected specific risks relating to the relevant CGU. As a result of the impairment test, HCN’s recoverable amount was KRW 2,630 million, which was less than the carrying amount, and KRW 126,058 million of the impairment loss was recorded as goodwill in full and reflected in operating expenses.
| 4 | The recoverable amounts of GENIE Music Corporation are calculated based on value-in use calculations. These calculations use discounted cash flow projections for the next five years based on financial budgets. A terminal growth rate of 0.0% was applied for the cash flows expected to be incurred after five years. This growth rate does not exceed the average growth rate of the industry which the cash-generating unit belongs in. The Group estimated its revenue growth rate 4.51% based on past performance and its expectation of future market changes. In addition, management estimated the cash flow based on past performance and its expectation of market growth, and the discount rates 17.28% used reflected specific risks relating to the relevant CGU. As a result of the impairment test, GENIE’s recoverable amount was KRW 38,296 million, which was less than the carrying amount, and KRW 11,918 million of the impairment loss was recorded as goodwill in full and reflected in operating expenses.
| 5 | The recoverable amounts of MILLIE Co., Ltd. are calculated based on value-in use calculations. These calculations use discounted cash flow projections for the next four years based on financial budgets. A terminal growth rate of 1.0% was applied for the cash flows expected to be incurred after four years. This growth rate does not exceed the average growth rate of the industry which the cash-generating unit belongs in. In addition, management estimated the cash flow based on past performance and its expectation of market growth, and the discount rates 17.19% used reflected specific risks relating to the relevant CGU. As a result of the impairment test, the Group concluded that the carrying amount of the CGU does not exceed the recoverable amount. Accordingly, the Group did not recognize an impairment loss on goodwill on MILLIE Co., Ltd. for the years ended December 31, 2022, 2023 and 2024.
| 6 | The recoverable amounts of PlayD Co., Ltd. are calculated based on value-in use calculations. These calculations use discounted cash flow projections for the next five years based on financial budgets. A terminal growth rate of 1.0% was applied for the cash flows
| expected to be incurred after five years. This growth rate does not exceed the average growth rate of the industry which the cash-generating unit belongs in. In addition, management estimated the cash flow based on past performance and its expectation of market growth, and the discount rates 17.28% used reflected specific risks relating to the relevant CGU. As a result of the impairment test, PlayD’s recoverable amount was KRW 26,225 million, which was less than the carrying amount, and KRW 13,843 million of the impairment loss was recorded as goodwill in full and reflected in operating expenses.
| 7 | The recoverable amounts of KT Telecop Co., Ltd. are calculated based on value-in use calculations. These calculations use discounted cash flow projections for the next five years based on financial budgets. A terminal growth rate of 1.0% was applied for the cash flows expected to be incurred after five years. This growth rate does not exceed the average growth rate of the industry which the cash-generating unit belongs in. In addition, management estimated the cash flow based on past performance and its expectation of market growth, and the discount rates 8.25% used reflected specific risks relating to the relevant CGUs. As a result of the impairment test, the Group concluded that the carrying amount of the CGU does not exceed the recoverable amount. Accordingly, the Group did not recognize an impairment loss on goodwill on KT Telecop Co., Ltd. for the years ended December 31, 2022, 2023 and 2024.
| 8 | The recoverable amounts of Epsilon Global Communications Pte. Ltd. are calculated based on value-in use calculations. These calculations use discounted cash flow projections for the next five years based on financial budgets. A terminal growth rate of 1.0% was applied for the cash flows expected to be incurred after five years. This growth rate does not exceed the average growth rate of the industry which the cash-generating unit belongs in. In addition, management estimated the cash flow based on past performance and its expectation of market growth, and the discount rates 6.97% used reflected specific risks relating to the relevant CGU. As a result of the impairment test, Epsilon Global Communications’ recoverable amount was KRW 0, which was less than the carrying amount, and KRW 48,312 million of the impairment loss was recorded as goodwill in full and reflected in operating expenses.
| 9 | The Group performed its impairment assessment for long-lived assets attributed to the Information and Communication Technology (“ICT”) reporting segment, which includes the Cash-Generating Units of Mobile, Fixed line, and Corporate Services (the “CGUs”). The Group compared the carrying value of each CGU to the estimated recoverable amount. The recoverable amounts of ICT reporting segment are calculated based on value-in use calculations. These calculations use discounted cash flow projections for the next five years based on financial budgets. A terminal growth rate of 0.0% was applied for the cash flows expected to be incurred after five years. This growth rate does not exceed the average growth rate of the industry which the cash-generating unit belongs in. In addition, management estimated the cash flow based on past performance and its expectation of market growth, and the discount rate 7.21%. Accordingly, the Group did not recognize an impairment loss on ICT reporting segment for the years ended December 31, 2022, 2023 and 2024.

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