Page | ||||
| F-2 | ||||
| F-5 | ||||
| F-6 | ||||
| F-8 | ||||
| F-9 | ||||
| F-10 | ||||
| F-13 | ||||
| F-14 | ||||
• | We obtained an understanding of the Company’s information system and business processes, relevant to mobile revenue. |
• | With the assistance of our IT specialists, we identified the relevant systems used to process mobile revenue and tested the relevant general information technology controls. |
• | We reconciled the mobile revenue in the billing system with the revenue in the ledger. |
• | We developed an expectation of mobile services revenue amounts using historical service revenue and subscriber information and compared it to the recorded amount. |
• | We performed tests of the control activities addressing the accuracy and completeness of the subscriber information used in our audit procedures. |
• | To verify the occurrence and accuracy of handset revenue for mobile services, we selected transactions from the sub-ledger, reconciled the selection with contractual terms between the Company and customers of the Company, and compared the billed amounts to receipts. |
(In millions of Korean won) |
Notes |
December 31, 2023 |
December 31, 2024 |
|||||||||
|
Assets |
||||||||||||
|
Current assets |
||||||||||||
|
Cash and cash equivalents |
4,5,37 | ￦ |
￦ |
|||||||||
|
Trade and other receivables, net |
4,6,37 | |||||||||||
|
Other financial assets |
4,7,37 | |||||||||||
|
Current income tax assets |
||||||||||||
|
Inventories, net |
8 | |||||||||||
|
Other current assets |
9 | |||||||||||
|
|
|
|
|
|||||||||
|
Total current assets |
||||||||||||
|
|
|
|
|
|||||||||
|
Non-current assets |
||||||||||||
|
Trade and other receivables, net |
4,6,37 | |||||||||||
|
Other financial assets |
4,7,37 | |||||||||||
|
Property and equipment, net |
10 | |||||||||||
|
Right-of-use assets |
20 | |||||||||||
|
Investment properties, net |
11,37 | |||||||||||
|
Intangible assets, net |
12 | |||||||||||
|
Investments in associates and joint ventures |
13 | |||||||||||
|
Deferred income tax assets |
29 | |||||||||||
|
Net defined benefit assets |
17 | |||||||||||
|
Other non-current assets |
9 | |||||||||||
|
|
|
|
|
|||||||||
|
Total non-current assets |
||||||||||||
|
|
|
|
|
|||||||||
|
Total assets |
￦ |
￦ |
||||||||||
|
|
|
|
|
|||||||||
(In millions of Korean won) |
Notes |
December 31, 2023 |
December 31, 2024 |
|||||||||
|
Liabilities |
||||||||||||
|
Current liabilities |
||||||||||||
|
Trade and other payables |
4,14,37 | ￦ |
|
￦ |
|
|||||||
|
Borrowings |
4,15,37 | |||||||||||
|
Other financial liabilities |
4,7,37 | |||||||||||
|
Current income tax liabilities |
||||||||||||
|
Provisions |
16 | |||||||||||
|
Deferred revenue |
25 | |||||||||||
|
Other current liabilities |
9 | |||||||||||
|
|
|
|
|
|||||||||
|
Total current liabilities |
||||||||||||
|
|
|
|
|
|||||||||
|
Non-current liabilities |
||||||||||||
|
Trade and other payables |
4,14,37 | |||||||||||
|
Borrowings |
4,15,37 | |||||||||||
|
Other financial liabilities |
4,7,37 | |||||||||||
|
Defined benefit liabilities, net |
17 | |||||||||||
|
Provisions |
16 | |||||||||||
|
Deferred revenue |
25 | |||||||||||
|
Deferred income tax liabilities |
29 | |||||||||||
|
Other non-current liabilities |
9 | |||||||||||
|
|
|
|
|
|||||||||
|
Total non-current liabilities |
||||||||||||
|
|
|
|
|
|||||||||
|
Total liabilities |
||||||||||||
|
|
|
|
|
|||||||||
|
Equity |
||||||||||||
|
Share capital |
21 | |||||||||||
|
Share premium |
||||||||||||
|
Retained earnings |
22 | |||||||||||
|
Accumulated other comprehensive income |
23 | |||||||||||
|
Other components of equity |
23 | ( |
) | ( |
) | |||||||
|
|
|
|
|
|||||||||
|
Equity attributable to owners of the Controlling Company |
||||||||||||
|
|
|
|
|
|||||||||
|
Non-controlling interest |
||||||||||||
|
|
|
|
|
|||||||||
|
Total equity |
||||||||||||
|
|
|
|
|
|||||||||
|
Total liabilities and equity |
￦ |
￦ |
||||||||||
|
|
|
|
|
|||||||||
(In millions of Korean won) |
Notes |
2022 |
2023 |
2024 |
||||||||||
|
Operating revenue and other income |
25 | ￦ |
￦ |
￦ |
||||||||||
|
Revenue |
||||||||||||||
|
Other income |
26 | |||||||||||||
|
Operating expenses |
27 | |||||||||||||
|
|
|
|
|
|
|
|||||||||
|
Operating profit |
||||||||||||||
|
Finance income |
28 | |||||||||||||
|
Finance costs |
28 | ( |
) | ( |
) | ( |
) | |||||||
|
Share of net profits of associates and joint ventures |
13 | ( |
) | ( |
) | |||||||||
|
|
|
|
|
|
|
|||||||||
|
Profit before income tax |
||||||||||||||
|
Income tax expense |
29 | |||||||||||||
|
|
|
|
|
|
|
|||||||||
|
Profit for the year |
￦ |
￦ |
￦ |
|||||||||||
|
|
|
|
|
|
|
|||||||||
|
Profit for the year attributable to: |
||||||||||||||
|
Owners of the Controlling Company |
￦ |
￦ |
￦ |
|||||||||||
|
Non-controlling interest |
￦ |
￦ |
( |
) | ￦ |
( |
) | |||||||
|
Earnings per share attributable to the equity holders of the Controlling Company during the year (in Korean won): |
||||||||||||||
|
Basic earnings per share |
30 | ￦ |
￦ |
￦ |
||||||||||
|
Diluted earnings per share |
30 | ￦ |
￦ |
￦ |
||||||||||
(In millions of Korean won) |
||||||||||||||||
Notes |
2022 |
2023 |
2024 |
|||||||||||||
|
Profit for the year |
￦ |
￦ |
￦ |
|||||||||||||
|
Other comprehensive income |
||||||||||||||||
|
Items that will not be reclassified to profit or loss: |
||||||||||||||||
|
Remeasurements of the net defined benefit liability |
17 | ( |
) | ( |
) | |||||||||||
|
Shares of remeasurement gain (loss) of associates and joint ventures |
( |
) | ( |
) | ( |
) | ||||||||||
|
Gain (loss) on valuation of equity instruments at fair value through other comprehensive income |
4 | ( |
) | ( |
) | |||||||||||
|
Items that may be subsequently reclassified to profit or loss: |
||||||||||||||||
|
Gain(loss) on valuation of debt instruments at fair value through other comprehensive income |
4 | ( |
) | |||||||||||||
|
Valuation gain (loss) on cash flow hedge |
4,7 | |||||||||||||||
|
Other comprehensive income (loss) from cash flow hedges reclassified to profit (loss) |
4 | ( |
) | ( |
) | ( |
) | |||||||||
|
Share of other comprehensive income (loss) from associates and joint ventures |
( |
) | ||||||||||||||
|
Exchange differences on translation of foreign operations |
||||||||||||||||
|
|
|
|
|
|
|
|||||||||||
|
Total other comprehensive income |
( |
) | ( |
) | ||||||||||||
|
|
|
|
|
|
|
|||||||||||
|
Total comprehensive income for the year |
￦ |
￦ |
￦ |
|||||||||||||
|
|
|
|
|
|
|
|||||||||||
|
Total comprehensive income for the year attributable to: |
||||||||||||||||
|
Owners of the Controlling Company |
||||||||||||||||
|
Non-controlling interest |
( |
) | ( |
) | ||||||||||||
Attributable to owners of the Controlling Company | ||||||||||||||||||||||||||||||||||||
(In millions of Korean won) | Notes | Share capital | Share premium | Retained earnings | Accumulated other comprehensive income | Other components of equity | Total | Non-controlling interest | Total equity | |||||||||||||||||||||||||||
Balance as at January 1, 2022 | ￦ | ￦ | ￦ | ￦ | ￦ | ( | ) | ￦ | ￦ | ￦ | ||||||||||||||||||||||||||
Comprehensive income | ||||||||||||||||||||||||||||||||||||
Profit for the year | — | — | — | — | ||||||||||||||||||||||||||||||||
Remeasurements of net defined benefit liabilities | 17,29 | — | — | — | — | |||||||||||||||||||||||||||||||
Share of gain on remeasurements of associates and joint ventures | — | — | ( | ) | — | — | ( | ) | ( | ) | ( | ) | ||||||||||||||||||||||||
Share of other comprehensive loss of associates and joint ventures | — | — | — | ( | ) | — | ( | ) | ( | ) | ( | ) | ||||||||||||||||||||||||
Valuation loss on cash flow hedge | 4,29 | — | — | — | ( | ) | — | ( | ) | ( | ) | |||||||||||||||||||||||||
Gain (Loss) on valuation of financial instruments at fair value through other comprehensive income | 4,29 | — | — | ( | ) | — | ( | ) | ( | ) | ( | ) | ||||||||||||||||||||||||
Exchange differences on translation of foreign operations | — | — | — | — | ||||||||||||||||||||||||||||||||
Total comprehensive income for the year | — | — | ( | ) | — | |||||||||||||||||||||||||||||||
Transactions with owners | ||||||||||||||||||||||||||||||||||||
Dividends paid by the Controlling Company | 31 | — | — | ( | ) | — | — | ( | ) | — | ( | ) | ||||||||||||||||||||||||
Dividends paid to non-controlling interest of subsidiaries | — | — | — | — | — | — | ( | ) | ( | ) | ||||||||||||||||||||||||||
Acquisition and disposition of businesses | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Changes in ownership interest in subsidiaries | — | — | — | — | ||||||||||||||||||||||||||||||||
Appropriations of loss on disposal of treasury stock | — | — | ( | ) | — | — | — | — | ||||||||||||||||||||||||||||
Disposal of treasury stock | — | — | — | — | — | |||||||||||||||||||||||||||||||
Conversion of redeemable convertible preferred shares of subsidiaries to common shares | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
| Others |
— | — | — | — | ( |
) | ( |
) | ( |
) | ||||||||||||||||||||||||||
Subtotal | — | — | ( | ) | — | |||||||||||||||||||||||||||||||
Balance as at December 31, 2022 | ￦ | ￦ | ￦ | ￦ | ( | ) | ￦ | ( | ) | ￦ | ￦ | ￦ | ||||||||||||||||||||||||
Attributable to owners of the Controlling Company |
||||||||||||||||||||||||||||||||||||
(In millions of Korean won) |
Notes |
Share capital |
Share premium |
Retained earnings |
Accumulated other comprehensive income |
Other components of equity |
Total |
Non-controlling interest |
Total equity |
|||||||||||||||||||||||||||
|
Balance as at January 1, 2023 |
￦ |
￦ |
￦ |
￦ |
( |
) | ￦ |
( |
) | ￦ |
￦ |
￦ |
||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
|
Comprehensive income |
||||||||||||||||||||||||||||||||||||
|
Profit for the year |
— | — | — | — | ( |
) | ||||||||||||||||||||||||||||||
|
Remeasurements of net defined benefit liabilities |
17,29 | — | — | ( |
) | — | — | ( |
) | ( |
) | ( |
) | |||||||||||||||||||||||
|
Share of gain(loss) on remeasurements of associates and joint ventures |
— | — | ( |
) | — | — | ( |
) | ( |
) | ||||||||||||||||||||||||||
|
Share of other comprehensive income of associates and joint ventures |
— | — | — | — | ||||||||||||||||||||||||||||||||
|
Valuation loss on cash flow hedge |
4,29 | — | — | — | ( |
) | — | ( |
) | ( |
) | ( |
) | |||||||||||||||||||||||
|
Gain(loss) on valuation of financial instruments at fair value through other comprehensive income |
4,29 | — | — | — | ( |
) | ||||||||||||||||||||||||||||||
|
Exchange differences on translation of foreign operations |
— | — | — | — | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
|
Total comprehensive income for the year |
— | — | — | ( |
) | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
|
Transactions with owners |
||||||||||||||||||||||||||||||||||||
|
Dividends paid by the Controlling Company |
31 | — | — | ( |
) | — | — | ( |
) | — | ( |
) | ||||||||||||||||||||||||
|
Dividends paid to non-controlling interest of subsidiaries |
— | — | — | — | — | — | ( |
) | ( |
) | ||||||||||||||||||||||||||
|
Acquisition and disposition of businesses |
— | — | — | — | — | — | ( |
) | ( |
) | ||||||||||||||||||||||||||
|
Changes in ownership interest in subsidiaries |
— | — | — | — | ||||||||||||||||||||||||||||||||
|
Appropriations of loss on disposal of treasury stock |
— | — | ( |
) | — | — | — | — | ||||||||||||||||||||||||||||
|
Acquisition of treasury stock |
— | — | — | — | ( |
) | ( |
) | — | ( |
) | |||||||||||||||||||||||||
|
Disposal of treasury stock |
— | — | — | — | — | |||||||||||||||||||||||||||||||
|
Retirement of treasury stock |
— | — | ( |
) | — | — | — | — | ||||||||||||||||||||||||||||
|
Recognition of the obligation to purchase its own equity |
— | — | — | — | ( |
) | ( |
) | — | ( |
) | |||||||||||||||||||||||||
|
Others |
— | — | — | — | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
|
Subtotal |
— | — | ( |
) | — | ( |
) | ( |
) | ( |
) | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
|
Balance as at December 31, 2023 |
￦ |
￦ |
￦ |
￦ |
￦ |
( |
) | ￦ |
￦ |
￦ |
||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Attributable to owners of the Controlling Company |
||||||||||||||||||||||||||||||||||||
(In millions of Korean won) |
Notes |
Share capital |
Share premium |
Retained earnings |
Accumulated other comprehensive income |
Other components of equity |
Total |
Non-controlling interest |
Total equity |
|||||||||||||||||||||||||||
|
Balance as at January 1, 2024 |
￦ |
￦ |
￦ |
￦ |
￦ |
( |
) | ￦ |
￦ |
￦ |
||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
|
Comprehensive income |
||||||||||||||||||||||||||||||||||||
|
Profit for the year |
— | — | — | — | ( |
) | ||||||||||||||||||||||||||||||
|
Remeasurements of net defined benefit liabilities |
17,29 | — | — | ( |
) | — | — | ( |
) | ( |
) | ( |
) | |||||||||||||||||||||||
|
Share of gain(loss) on remeasurements of associates and joint ventures |
— | — | ( |
) | — | — | ( |
) | ( |
) | ( |
) | ||||||||||||||||||||||||
|
Share of other comprehensive income of associates and joint ventures |
— | — | — | — | ||||||||||||||||||||||||||||||||
|
Valuation loss on cash flow hedge |
4,29 | — | — | — | ( |
) | — | ( |
) | ( |
) | ( |
) | |||||||||||||||||||||||
|
Gain(loss) on valuation of financial instruments at fair value through other comprehensive income |
4,29 | — | — | ( |
) | — | ( |
) | ( |
) | ( |
) | ||||||||||||||||||||||||
|
Exchange differences on translation of foreign operations |
— | — | — | — | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
|
Total comprehensive income for the year |
— | — | — | ( |
) | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
|
Transactions with owners |
||||||||||||||||||||||||||||||||||||
|
Dividends paid by the Controlling Company |
31 | — | — | ( |
) | — | — | ( |
) | — | ( |
) | ||||||||||||||||||||||||
|
Interim Dividends paid by the Parent Company |
31 | — | — | ( |
) | — | — | ( |
) | — | ( |
) | ||||||||||||||||||||||||
|
Dividends paid to non-controlling interest of subsidiaries |
— | — | — | — | — | — | ( |
) | ( |
) | ||||||||||||||||||||||||||
|
Change in Consolidation Scope |
— | — | — | — | — | — | ||||||||||||||||||||||||||||||
|
Changes in ownership interest in subsidiaries |
— | — | — | — | ( |
) | ( |
) | ||||||||||||||||||||||||||||
|
Acquisition of treasury stock |
— | — | — | — | ( |
) | ( |
) | — | ( |
) | |||||||||||||||||||||||||
|
Disposal of treasury stock |
— | — | — | — | — | |||||||||||||||||||||||||||||||
|
Retirement of treasury stock |
— | — | ( |
) | — | — | — | — | ||||||||||||||||||||||||||||
|
Others |
— | — | — | — | ( |
) | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
|
Subtotal |
— | — | ( |
) | — | ( |
) | ( |
) | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
|
Balance as at December 31, 2024 |
￦ |
￦ |
￦ |
￦ |
￦ |
( |
) | ￦ |
￦ |
￦ |
||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
(In millions of Korean won) |
||||||||||||||||
Notes |
2022 |
2023 |
2024 |
|||||||||||||
|
Cash flows from operating activities |
||||||||||||||||
|
Cash generated from operations |
32 | ￦ |
￦ |
￦ |
||||||||||||
|
Interest paid |
( |
) | ( |
) | ( |
) | ||||||||||
|
Interest received |
||||||||||||||||
|
Dividends received |
||||||||||||||||
|
Income tax paid |
( |
) | ( |
) | ( |
) | ||||||||||
|
|
|
|
|
|
|
|||||||||||
|
Net cash inflow from operating activities |
||||||||||||||||
|
|
|
|
|
|
|
|||||||||||
|
Cash flows from investing activities |
||||||||||||||||
|
Collection of loans |
||||||||||||||||
|
Loans granted |
( |
) | ( |
) | ( |
) | ||||||||||
|
Disposal of financial assets at fair value through profit or loss |
||||||||||||||||
|
Disposal of financial assets at amortized cost |
||||||||||||||||
|
Disposal of financial assets at fair value through other comprehensive income |
||||||||||||||||
|
Disposal of assets held-for-sale |
||||||||||||||||
|
Disposal of investments in associates and joint ventures |
||||||||||||||||
|
Acquisition of investments in associates and joint ventures |
( |
) | ( |
) | ( |
) | ||||||||||
|
Disposal of property and equipment, and investment properties |
||||||||||||||||
|
Acquisition of property and equipment, and investment properties |
( |
) | ( |
) | ( |
) | ||||||||||
|
Acquisition of financial assets at fair value through profit or loss |
( |
) | ( |
) | ( |
) | ||||||||||
|
Acquisition of financial assets at amortized cost |
( |
) | ( |
) | ( |
) | ||||||||||
|
Acquisition of financial assets at fair value through other comprehensive income |
( |
) | ( |
) | ( |
) | ||||||||||
|
Disposal of intangible assets |
||||||||||||||||
|
Disposal of right-of-use assets |
||||||||||||||||
|
Settlement of derivative assets and liabilities |
||||||||||||||||
|
Acquisition of intangible assets |
( |
) | ( |
) | ( |
) | ||||||||||
|
Acquisition of right-of-use assets |
( |
) | ( |
) | ( |
) | ||||||||||
|
Acquisition of businesses |
( |
) | ( |
) | ( |
) | ||||||||||
|
Disposal of businesses |
||||||||||||||||
|
|
|
|
|
|
|
|||||||||||
|
Net cash outflow from investing activities |
( |
) | ( |
) | ( |
) | ||||||||||
|
|
|
|
|
|
|
|||||||||||
|
Cash flows from financing activities |
33 | |||||||||||||||
|
Proceeds from borrowings and debentures |
||||||||||||||||
|
Repayments of borrowings and debentures |
( |
) | ( |
) | ( |
) | ||||||||||
|
Settlement of derivative assets and liabilities, net |
||||||||||||||||
|
Cash inflow from issuance of shares to NCI |
||||||||||||||||
|
Cash outflow from issuance of shares to NCI |
( |
) | ( |
) | ( |
) | ||||||||||
|
Cash inflow from other financing activities |
||||||||||||||||
|
Dividends paid to shareholders |
( |
) | ( |
) | ( |
) | ||||||||||
|
Acquisition of treasury stock |
( |
) | ( |
) | ||||||||||||
|
Cash outflow from other financing activities |
( |
) | ||||||||||||||
|
Cash outflow under derivatives contracts |
( |
) | ||||||||||||||
|
Repayment of leases liabilities |
( |
) | ( |
) | ( |
) | ||||||||||
|
|
|
|
|
|
|
|||||||||||
|
Net cash outflow from financing activities |
( |
) | ( |
) | ||||||||||||
|
|
|
|
|
|
|
|||||||||||
|
Effect of exchange rate change on cash and cash equivalents |
||||||||||||||||
|
|
|
|
|
|
|
|||||||||||
|
Net increase (decrease) in cash and cash equivalents |
( |
) | ||||||||||||||
|
Cash and cash equivalents |
||||||||||||||||
|
Beginning of the year |
5 | |||||||||||||||
|
|
|
|
|
|
|
|||||||||||
|
End of the year |
5 | ￦ |
￦ |
￦ |
||||||||||||
|
|
|
|
|
|
|
|||||||||||
1. | General Information |
1.1 | The Controlling Company |
1.2 | Consolidated Subsidiaries |
Controlling Interest 1 (%) | ||||||||||
Subsidiary | Type of business | Location | December 31, 2023 | December 31, 2024 | Closing month | |||||
4 | ||||||||||
KT Service Nambu Co., Ltd. | ||||||||||
BC-VP Strategic Investment Fund No.1 | ||||||||||
4 | ||||||||||
Controlling Interest 1 (%) | ||||||||||
Subsidiary | Type of business | Location | December 31, 2023 | December 31, 2024 | Closing month | |||||
4 | ||||||||||
4 | ||||||||||
2 | ||||||||||
4 | ||||||||||
4 | ||||||||||
4 | ||||||||||
2,4 | ||||||||||
2,4 | ||||||||||
2,4 | ||||||||||
Controlling Interest 1 (%) | ||||||||||
Subsidiary | Type of business | Location | December 31, 2023 | December 31, 2024 | Closing month | |||||
K-REALTY RENTAL HOUSING REIT 3 | ||||||||||
2 | ||||||||||
Epsilon Global Communications PTE. Ltd. | ||||||||||
Epsilon Telecommunications (SP) PTE. Ltd. | ||||||||||
Epsilon Telecommunications (US) PTE. Ltd. | ||||||||||
Epsilon Telecommunications (HK) Limited | ||||||||||
Epsilon Telecommunications (BG) EOOD | ||||||||||
Nasmedia-KT Alpha Future Growth Strategic Investment Fund | ||||||||||
Controlling Interest 1 (%) | ||||||||||
Subsidiary | Type of business | Location | December 31, 2023 | December 31, 2024 | Closing month | |||||
KT Living, Inc. (formerly KD Living, Inc.) | ||||||||||
K-Realty Qualified Private Real Estate Investment Trust No. 13 | ||||||||||
E-voucher issuance and trading business | ||||||||||
K-Realty Qualified Private Real Estate Investment Trust No. 4 | ||||||||||
| — | ||||||||||
K-Logis Hwaseong Inc. | — | |||||||||
| — | ||||||||||
| — | ||||||||||
| 1 | Sum of the interests owned by the Controlling Company and subsidiaries. |
| 2 | Although the Controlling Company owns less than Nasmedia Co., Ltd., KTCS Corporation and KTIS Corporation, Millie Seojae, and GENIE Music Corporation, these entities are consolidated as the Controlling Company can exercise the majority of voting rights in its decision-making process at all times, based on voting patterns at previous shareholders’ meetings. |
| 3 | Although the Controlling Company owns less than K-Realty Qualified Private Real Estate Investment Trust No. 1, this entity is consolidated by comprehensively considering the criteria for determining control, such as ‘power’, ‘variable profit’, and ‘relationship between power and variable profit’, rather than simply judging by the interests owned by the Controlling Company. |
| 4 | The number of treasury stock held by subsidiaries are deducted from the total number of shares when calculating the controlling percentage interest. |
Changes | Location | Name of subsidiary | Reason | |||
Included | Korea | BC Strategic Investment Fund 2 | Newly established | |||
Included | Korea | K-Logis Hwaseong Inc. | Newly established | |||
Included | Korea | kt netcore. Co. Ltd. | Newly established | |||
Included | Korea | kt p&m | Newly established | |||
Excluded | Korea | Lolab Co., Ltd. | Shares disposed | |||
Excluded | Korea | Pocheon Jeonggyori Development Co., Ltd. | Liquidated | |||
Excluded | Vietnam | KT HEALTHCARE VINA COMPANY LIMITED | Shares disposed | |||
Excluded | Korea | KT NEXR Co., Ltd. | Merged | |||
Excluded | Korea | Juice | Shares disposed |
| (3) | Summarized information for consolidated subsidiaries as at and for the years ended December 31, 2022, 2023 and 2024, is as follows: |
(In millions of Korean won) | December 31, 2022 | 2022 3 | ||||||||||||||
Total assets | Total liabilities | Operating revenues | Profit(loss) for the period | |||||||||||||
￦ | ￦ | ￦ | ￦ | ( | ) | |||||||||||
| ( | ) | |||||||||||||||
1 (KT Hitel Co., Ltd.) | ||||||||||||||||
1 | ||||||||||||||||
1 | ||||||||||||||||
1 | ||||||||||||||||
1 | ||||||||||||||||
1 | ||||||||||||||||
| ( | ) | |||||||||||||||
KT-Michigan Global Content Fund | ( | ) | ||||||||||||||
1 | ||||||||||||||||
1 | ||||||||||||||||
| ( | ) | |||||||||||||||
1 | ||||||||||||||||
2 | ( | ) | ||||||||||||||
2 | ||||||||||||||||
1 | ||||||||||||||||
KT Engineering Co., Ltd. (KT ENGCORE Co., Ltd.) | ||||||||||||||||
1 | ||||||||||||||||
| ( | ) | |||||||||||||||
1 | ||||||||||||||||
1 | ( | ) | ||||||||||||||
| ( | ) | |||||||||||||||
1 | ||||||||||||||||
1 | ( | ) | ||||||||||||||
1 | ||||||||||||||||
| 1 | As intermediate controlling companies, financial information from their consolidated financial statements is presented. |
| 2 | Convertible preferred stock issued by subsidiaries as of the end of the reporting period is included in liabilities. |
| 3 | Profit or loss is included from the date of acquisition of control to the end of the reporting period. |
(In millions of Korean won) | December 31, 2023 | 2023 3 | ||||||||||||||
Total assets | Total liabilities | Operating revenues | Profit(loss) for the period | |||||||||||||
￦ | ￦ | ￦ | ￦ | |||||||||||||
| | ||||||||||||||||
| | ||||||||||||||||
1 | | |||||||||||||||
1 | ||||||||||||||||
1 | | |||||||||||||||
1 | ( | ) | ||||||||||||||
1 | ||||||||||||||||
| | ||||||||||||||||
| ( | ) | |||||||||||||||
| ( | ) | |||||||||||||||
1 | ||||||||||||||||
1 | ||||||||||||||||
| ( | ) | |||||||||||||||
1 | ( | ) | ||||||||||||||
2 | ( | ) | ||||||||||||||
2 | ||||||||||||||||
1 | ||||||||||||||||
| | | |||||||||||||||
1 | | | | |||||||||||||
| ( | ) | |||||||||||||||
1 | ||||||||||||||||
1 | ( | ) | ||||||||||||||
1 | ||||||||||||||||
| ( | ) | |||||||||||||||
| ( | ) | |||||||||||||||
1 | | | | | ||||||||||||
| ( | ) | |||||||||||||||
K-Realty Qualified Private Real Estate InvestmentTrust No. 1 | ( | ) | ||||||||||||||
| ( | ) | |||||||||||||||
| 1 | As intermediate controlling companies, financial information from their consolidated financial statements is presented. |
| 2 | Convertible preferred stock issued by subsidiaries as of the end of the reporting period is included in liabilities. |
| 3 | Profit or loss is included from the date of acquisition of control to the end of the reporting period. |
(In millions of Korean won) | December 31, 2024 | 2024 3 | ||||||||||||||
Total assets | Total liabilities | Operating revenues | Profit (loss) for the period | |||||||||||||
￦ | ￦ | ￦ | ￦ | ( | ) | |||||||||||
| ( | ) | |||||||||||||||
| ( | ) | |||||||||||||||
1 | ||||||||||||||||
1 | ( | ) | ||||||||||||||
1 | ||||||||||||||||
1 | ( | ) | ||||||||||||||
1 | ||||||||||||||||
1 | ||||||||||||||||
1 | ||||||||||||||||
| ( | ) | |||||||||||||||
1 | ( | ) | ||||||||||||||
2 | ( | ) | ||||||||||||||
2 | ||||||||||||||||
1 | ||||||||||||||||
1 | ( | ) | ||||||||||||||
1 | ||||||||||||||||
1 | ( | ) | ||||||||||||||
1 | ||||||||||||||||
| ( | ) | |||||||||||||||
| ( | ) | |||||||||||||||
1 | ||||||||||||||||
K-Realty Qualified Private Real Estate Investment Trust No. 1 | ( | ) | ||||||||||||||
| ( | ) | |||||||||||||||
| ( | ) | |||||||||||||||
| 1 | As intermediate controlling companies, financial information from their consolidated financial statements is presented. |
| 2 | Convertible preferred stock issued by subsidiaries as of the end of the reporting period is included in liabilities. |
| 3 | Profit or loss is included from the date of acquisition of control to the end of the reporting period. |
2 | Material Accounting Policies |
2.1 | Basis of Preparation |
| • | Certain financial assets and liabilities (including derivative instruments) |
| • | Defined benefit pension plans – plan assets measured at fair value |
2.2 | Changes in Accounting Policy and Disclosures |
• | present specified categories and defined subtotals in the statement of profit or loss; |
• | provide disclosures on management-defined performance measures (MPMs) in the notes to the financial statements; and |
• | improve aggregation and disaggregation. |
2.3 | Consolidation |
2.4 | Segment Reporting |
2.5 | Foreign Currency Translation |
2.6 | Financial Assets |
| • | those to be measured at fair value through profit or loss |
| • | those to be measured at fair value through other comprehensive income |
| • | those to be measured at amortized cost |
| • | Amortized cost: Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortized cost. A gain or loss on a debt investment that is subsequently measured at amortized cost and is not part of a hedging relationship is recognized in profit or loss when the asset is derecognized or impaired. Interest income from these financial assets is included in ‘finance income’ using the effective interest rate method. |
• | Fair value through other comprehensive income: Assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets’ cash flows represent solely payments of principal and interest, are measured at fair value through other comprehensive income. Movements in the carrying amount are taken through other comprehensive income, except for the recognition of impairment loss (and reversal of impairment loss), interest income and foreign exchange gains and losses which are recognized in profit or loss. When the financial asset is derecognized, the cumulative gain or loss previously recognized in other comprehensive income is reclassified from equity to profit or loss. Interest income from these financial assets is included in ‘finance income’ using the effective interest rate method. Foreign exchange gains and losses are presented in ‘finance income’ or ‘finance costs’ and impairment loss in ‘finance costs’ or ‘operating expenses’. |
| • | Fair value through profit or loss: Assets that do not meet the criteria for amortized cost or fair value through other comprehensive income are measured at fair value through profit or loss. A gain or loss on a debt investment that is subsequently measured at fair value through profit or loss and is not part of a hedging relationship is recognized in profit or loss and presented net in the statement of profit or loss within ‘finance income’ or ‘finance costs’ in the period in which it arises. |
2.7 | Derivative Instruments |
| • | hedges of a particular risk associated with the cash flows of recognized assets and liabilities and highly probable forecast transactions (cash flow hedges) |
2.8 | Trade Receivables |
2.9 | Inventories |
2.10 | Property and Equipment |
Useful Life | ||
Buildings | ||
Structures | ||
Machinery and equipment (Telecommunications equipment and others) | ||
Vehicles | ||
Tools | ||
Office equipment |
2.11 | Investment Property |
2.12 | Intangible Assets |
Useful Life | ||||
Development costs | ||||
Software | ||||
Frequency usage rights | ||||
Others 1 | ||||
| 1 | Membership rights (condominium membership and golf membership), subscription rights, broadcast license, facility usage rights and transportation license included in others are classified as intangible assets with indefinite useful life. |
2.13 | Borrowing Costs |
2.14 | Government Grants |
2.15 | Impairment of Non-Financial Assets |
2.16 | Trade and Other Payables |
2.17 | Financial Liabilities |
2.18 | Financial Guarantee Contracts |
| • | the amount determined in accordance with the expected credit loss model under IFRS 9 Financial Instruments |
• | the amount initially recognized less, where appropriate, the cumulative amount of income recognized in accordance with IFRS 15 Revenue from Contracts with Customers |
2.19 | Employee Benefits |
2.20 | Share-Based Payments |
2.21 | Provisions |
2.22 | Leases |
| • | Fixed payments (including in-substance fixed payments), less any lease incentives receivable |
| • | Variable lease payment that are based on an index or a rate, initially measured using the index or rate as at the commencement date |
| • | Amounts expected to be payable by the Group (the lessee) under residual value guarantees |
| • | The exercise price of a purchase option if the Group (the lessee) is reasonably certain to exercise that option, and |
| • | Payments of penalties for terminating the lease, if the lease term reflects the Group (the lessee) exercising that option |
| • | the amount of the initial measurement of lease liability |
| • | any lease payments made at or before the commencement date less any lease incentives received |
| • | any initial direct costs (leasehold deposits) |
| • | restoration costs |
2.23 | Share Capital |
2.24 | Revenue Recognition |
2.25 | Current and Deferred Income Tax |
2.26 | Dividend |
2.27 | Approval on Issuance of the Consolidated Financial Statements |
3 | Critical Accounting Estimates and Assumptions |
3.1 | Impairment of Non-Financial Assets (including Goodwill) |
3.2 | Income Taxes |
3.3 | Fair Value of Financial Instruments |
3.4 | Net Defined Benefit Liability |
3.5 | Amortization of Contract Assets, Contract Liabilities and Contract Cost Assets |
3.6 | Critical Judgments in Determining the Lease Term |
| • | If there are significant penalties to terminate (or not extend), the Group is typically reasonably certain to extend (or not terminate). |
| • | If any leasehold improvements are expected to have a significant remaining value, the Group is typically reasonably certain to extend (or not terminate). |
| • | Otherwise, the Group considers other factors including historical lease durations and the costs and business disruption required to replace the leased asset. |
4 | Financial Instruments by Category |
(In millions of Korean won) | December 31, 2023 | |||||||||||||||||||
Financial assets | Financial assets at amortized cost | Financial assets at FVTPL | Financial assets at FVOCI | Derivatives used for hedging | Total | |||||||||||||||
Cash and cash equivalents | ￦ | ￦ | — | ￦ | — | ￦ | — | ￦ | ||||||||||||
Trade and other receivables | — | — | ||||||||||||||||||
Other financial assets | ||||||||||||||||||||
(In millions of Korean won) | December 31, 2023 | |||||||||||||||||||
Financial liabilities | Financial liabilities at amortized cost | Financial liabilities at FVTPL | Derivatives used for hedging | Others | Total | |||||||||||||||
Trade and other payables 1 | ￦ | ￦ | — | ￦ | — | ￦ | — | ￦ | ||||||||||||
Borrowings | — | — | — | |||||||||||||||||
Other financial liabilities | — | |||||||||||||||||||
Lease liabilities | — | — | — | |||||||||||||||||
| 1 | Amounts related to employee benefit plans are excluded in Trade and other payables. |
(In millions of Korean won) | December 31, 2024 | |||||||||||||||||||
Financial assets | Financial assets at amortized cost | Financial assets at FVTPL | Financial assets at FVOCI | Derivatives used for hedging | Total | |||||||||||||||
Cash and cash equivalents | ￦ | ￦ | — | ￦ | — | ￦ | — | ￦ | ||||||||||||
Trade and other receivables | — | — | ||||||||||||||||||
Other financial assets | ||||||||||||||||||||
(In millions of Korean won) | December 31, 2024 | |||||||||||||||||||
Financial liabilities | Financial liabilities at amortized cost | Financial liabilities at FVTPL | Derivatives used for hedging | Others | Total | |||||||||||||||
Trade and other payables 1 | ￦ | ￦ | — | ￦ | — | ￦ | — | ￦ | ||||||||||||
Borrowings | — | — | — | |||||||||||||||||
Other financial liabilities | — | |||||||||||||||||||
Lease liabilities | — | — | — | |||||||||||||||||
| 1 | Amounts related to employee benefit plans are excluded in Trade and other payables. |
(in millions of Korean won) | 2022 | 2023 | 2024 | |||||||||
Financial assets at amortized cost | ||||||||||||
Interest income 1 | ￦ | ￦ | ￦ | |||||||||
Gain on foreign currency transactions 4 | ||||||||||||
Gain (loss) on foreign currency translation | ( | ) | ||||||||||
Loss on disposal | ( | ) | ( | ) | ( | ) | ||||||
Loss on valuation | ( | ) | ( | ) | ( | ) | ||||||
Financial assets at fair value through profit or loss | ||||||||||||
Interest income 1 | ||||||||||||
Dividend income 5 | ||||||||||||
Loss on valuation 6 | ( | ) | ( | ) | ( | ) | ||||||
Gain on disposal | ||||||||||||
Gain on foreign currency transactions 4 | — | |||||||||||
Gain on foreign currency translation | ||||||||||||
Financial assets at fair value through other comprehensive income | ||||||||||||
Interest income 1 | ||||||||||||
Dividend income 5 | ||||||||||||
Loss on valuation | ( | ) | — | — | ||||||||
Loss on disposal | ( | ) | ( | ) | ( | ) | ||||||
Other comprehensive loss for the year 2 | ( | ) | ( | ) | ||||||||
Derivatives used for hedging | ||||||||||||
Gain on transactions | ||||||||||||
Gain on valuation 7 | ||||||||||||
Other comprehensive income for the year 2 | ||||||||||||
Reclassified to profit or loss from other comprehensive loss for the year 2,3 | ( | ) | ( | ) | ( | ) | ||||||
Financial liabilities at amortized cost | ||||||||||||
Interest expense 1 | ( | ) | ( | ) | ( | ) | ||||||
Gain (loss) on valuation 8 | — | ( | ) | |||||||||
Loss on foreign currency transactions 4 | ( | ) | ( | ) | ( | ) | ||||||
Loss on foreign currency translation | ( | ) | ( | ) | ( | ) | ||||||
Financial liabilities at fair value through profit or loss | ||||||||||||
Gain (loss) on valuation | ( | ) | ( | ) | ||||||||
Gain on disposal | — | — | ||||||||||
Interest expense 1 | ( | ) | ( | ) | — | |||||||
Gain (loss) on foreign currency transactions 4 | ( | ) | — | |||||||||
Derivatives used for hedging | ||||||||||||
Loss on transactions | ( | ) | — | — | ||||||||
Gain (loss) on valuation | ( | ) | ||||||||||
Other comprehensive income (loss) for the year 2 | ( | ) | ( | ) | ||||||||
Reclassified to profit or loss from other comprehensive income for the year 2,3 | ( | ) | ( | ) | ||||||||
Lease liabilities | ||||||||||||
Interest expense 1 | ( | ) | ( | ) | ( | ) | ||||||
Total | ￦ | ( | ) | ￦ | ( | ) | ￦ | ( | ) | |||
| 1 | BC Card Co., Ltd., etc., subsidiaries of the Group, recognized interest income and expenses as operating revenue and expenses, respectively. Related interest income recognized as operating revenue is ￦ ￦ ￦ ￦ ￦ ￦ |
| 2 | The amounts directly reflected in equity after adjustments of deferred income tax. |
| 3 | During the years ended December 31, 2023 and 2024, certain derivatives of the Group were settled and the related gain or loss on valuation of cash flow hedge in other comprehensive income was reclassified to profit or loss for the year. |
| 4 | BC Card Co., Ltd., a subsidiary of the Group, recognized foreign currency transaction gain and loss and as operating revenue and expense. In relation to this, foreign currency transaction gain and loss recognized as operating revenue and expense amount to foreign exchange gain ￦ ￦ ￦ |
| 5 | BC Card Co., Ltd., a subsidiary of the Group, recognized dividend income as operating revenue. Related dividend income recognized as operating revenue is ￦ ￦ ￦ |
| 6 | KT Investment Co., Ltd., etc., subsidiaries of the Group, recognized gain and loss on valuation of financial instruments measured at fair value through profit or loss as operating income and expenses. In relation to this, valuation gain and loss recognized as operating revenue and expense amount to valuation loss ￦ ￦ ￦ |
| 7 | BC Card Co., Ltd., a subsidiary of the Group, recognized gain and loss on valuation of derivatives as operating income and expenses. Related valuation gain recognized as operating revenue and expense is ￦ ￦ ￦ |
| 8 | KT Cloud Co., Ltd., a subsidiary of the Group, recognized gain on valuation as convertible preferred stock of ￦ ￦ |
5 | Cash and Cash Equivalents |
(in millions of Korean won) | December 31, 2023 | December 31, 2024 | Description | |||
Bank deposits | ￦ | ￦ | Deposit restricted for government project and others |
6 | Trade and Other Receivables |
December 31, 2023 | ||||||||||||||||
(In millions of Korean won) | Total amounts | Provision for impairment | Present value discount | Carrying amount | ||||||||||||
Current assets | ||||||||||||||||
Trade receivables | ￦ | ( | ) | ( | ) | |||||||||||
Other receivables | ( | ) | ( | ) | ||||||||||||
Total | ( | ) | ( | ) | ||||||||||||
Non-current assets | ||||||||||||||||
Trade receivables | ( | ) | ( | ) | ||||||||||||
Other receivables | ( | ) | ( | ) | ||||||||||||
Total | ￦ | ( | ) | ( | ) | |||||||||||
December 31, 2024 | ||||||||||||||||
(In millions of Korean won) | Total amounts | Provision for impairment | Present value discount | Carrying amount | ||||||||||||
Current assets | ||||||||||||||||
Trade receivables | ￦ | ( | ) | ( | ) | |||||||||||
Other receivables | ( | ) | ( | ) | ||||||||||||
Total | ( | ) | ( | ) | ||||||||||||
Non-current assets | ||||||||||||||||
Trade receivables | ( | ) | ( | ) | ||||||||||||
Other receivables | ( | ) | ( | ) | ||||||||||||
Total | ￦ | ( | ) | ( | ) | |||||||||||
| (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 provisions for impairment the years ended December 31, 2023 and 2024, are as follows: |
2023 | 2024 | |||||||||||||||
(in millions of Korean won) | Trade receivables | Other receivables | Trade receivables | Other receivables | ||||||||||||
Beginning balance | ￦ | |||||||||||||||
Provision | ||||||||||||||||
Reversal | — | ( | ) | — | ( | ) | ||||||||||
Write-off/reimbursement | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
Changes in consolidation scope | ( | ) | ( | ) | — | — | ||||||||||
Others | ( | ) | ( | ) | ||||||||||||
Ending balance | ￦ | |||||||||||||||
| (4) | Details of other receivables as of December 31, 2023 and 2024, are as follows: |
(In millions of Korean won) | December 31, 2023 | December 31, 2024 | ||||||
Loans | ￦ | |||||||
Receivables 1 | ||||||||
Accrued income | ||||||||
Refundable deposits | ||||||||
Loans receivable | ||||||||
Finance lease receivables | ||||||||
Others | ||||||||
Less: Provision for impairment | ( | ) | ( | ) | ||||
Total | ￦ | |||||||
| 1 | As of December 31, 2024, credit sales asset of ￦ ￦ |
7 | Other Financial Assets and Liabilities |
| (1) | Details of other financial assets and liabilities as of December 31, 2023 and 2024, are as follows: |
(In millions of Korean won) | December 31, 2023 | December 31, 2024 | ||||||
Other financial assets | ||||||||
Financial assets at amortized cost 1 | ￦ | |||||||
Financial assets at fair value through profits of loss 1,2 | ||||||||
Financial assets at fair value through other comprehensive income | ||||||||
Derivatives used for hedging | ||||||||
Less: Non-current | ( | ) | ( | ) | ||||
Current | ￦ | |||||||
Other financial liabilities | ||||||||
Financial liabilities at amortized cost 3,4 | ￦ | |||||||
Financial liabilities at fair value through profits or loss | ||||||||
Derivatives used for hedging | ||||||||
Less: Non-current | ( | ) | ( | ) | ||||
Current | ￦ | |||||||
| 1 | As of December 31, 2024, the Group’s financial instruments amount to ￦ ￦ |
| 2 | As of December 31, 2024, the Group provided investments in Korea Software Financial Cooperative and others amounting to ￦ ￦ |
| 3 | The amount includes liabilities related to the obligation to acquire additional shares in Epsilon Global Communications Pte. Ltd. and kt Cloud Co., Ltd. (Note 19). |
| 4 | The amount includes liabilities convertible preferred Stock issued by kt Cloud Co., Ltd. (Note 19). |
| 1) | Details of financial assets at fair value through profit or loss as of December 31, 2023 and 2024, are as follows: |
(In millions of Korean won) | December 31, 2023 | December 31, 2024 | ||||||
Equity instruments (Listed) | ￦ | |||||||
Equity instruments (Unlisted) | ||||||||
Debt instruments | ||||||||
Derivatives held for trading | ||||||||
Total | ||||||||
Less: Non-current | ( | ) | ( | ) | ||||
Current | ￦ | |||||||
(In millions of Korean won) | December 31, 2023 | December 31, 2024 | ||||||
Equity instruments (Listed) | ￦ | |||||||
Equity instruments (Unlisted) | ||||||||
Debt instruments | ||||||||
Total | ||||||||
Less: Non-current | ( | ) | ( | ) | ||||
Current | ￦ | |||||||
December 31, 2023 | December 31, 2024 | |||||||||||||||
(In millions of Korean won) | Assets | Liabilities | Assets | Liabilities | ||||||||||||
Interest rate swap | ￦ | |||||||||||||||
Currency swap 1 | ||||||||||||||||
Total | ||||||||||||||||
Less: Non-current | ( | ) | ( | ) | ( | ) | ||||||||||
Current | ￦ | |||||||||||||||
| 1 | The currency swap contract is to hedge the risk of variability in cash flow from the borrowings due to changes in interest rate and foreign exchange rate and the expected maximum period for the Group to be exposed to risks of cash flow fluctuation by hedged items is until September 7, 2034. |
(in millions of Korean won) | 2022 | 2023 | 2024 | |||||||||||||||||||||||||||||||||
Type of Transaction | Valuation gain | Valuation loss | Other comprehensive income1 | Valuation gain | Valuation loss | Other comprehensive income1 | Valuation gain | Valuation Loss | Other comprehensive income1 | |||||||||||||||||||||||||||
Interest rate swap | ￦ | ￦ | ￦ | ￦ | ￦ | ￦ | ( | ) | ￦ | ￦ | ￦ | ( | ) | |||||||||||||||||||||||
Currency swap | ( | ) | ( | ) | ||||||||||||||||||||||||||||||||
Currency forwards | ||||||||||||||||||||||||||||||||||||
Total | ￦ | ￦ | ￦ | ￦ | ￦ | ￦ | ( | ) | ￦ | ￦ | ￦ | ( | ) | |||||||||||||||||||||||
| 1 | The amounts are before adjustments for deferred income tax and allocations to non-controlling interests and have been directly reflected in equity. |
(in millions of Korean won and thousands of foreign currencies) | 2023 | |||||||||||||||||||
Book value of hedging instruments | Changes in fair value to calculate the ineffective portion of hedges | |||||||||||||||||||
Currency | Foreign currency | Contract amount | Assets | Liabilities | ||||||||||||||||
USD | ￦ | |||||||||||||||||||
JPY | ( | ) | ||||||||||||||||||
EUR | ||||||||||||||||||||
KRW | ||||||||||||||||||||
Total | ￦ | |||||||||||||||||||
(in millions of Korean won and thousands of foreign currencies) | 2024 | |||||||||||||||||||
Book value of hedging instruments | Changes in fair value to calculate the ineffective portion of hedges | |||||||||||||||||||
Currency | Foreign currency | Contract amount | Assets | Liabilities | ||||||||||||||||
USD | ￦ | |||||||||||||||||||
EUR | ||||||||||||||||||||
KRW | ||||||||||||||||||||
Total | ￦ | |||||||||||||||||||
(in millions of Korean won) | 2023 | 2024 | ||||||||||||||||||||||
Currency | Book value of hedged items | Changes in fair value to calculate the ineffective portion of hedges | Cash flow hedge reserves 1 | Book value of hedged items | Changes in fair value to calculate the ineffective portion of hedges | Cash flow hedge reserves 1 | ||||||||||||||||||
USD | ￦ | ( | ) | ( | ) | ( | ) | ( | ) | |||||||||||||||
JPY | ||||||||||||||||||||||||
EUR | ( | ) | ( | ) | ( | ) | ||||||||||||||||||
KRW | ( | ) | ( | ) | ||||||||||||||||||||
Total | ￦ | ( | ) | ( | ) | ( | ) | ( | ) | |||||||||||||||
| 1 | The amount is after the deferred tax directly added or subtracted to the capital is reflected. |
(in millions of Korean won) | December 31, 2023 | December 31, 2024 | ||||||
Derivatives held for trading 1 , 2 | ￦ | |||||||
1 | In relation to the additional acquisition of shares of the equity method investee K Bank Inc in 2021, the Group has entered into a shareholder agreement with the shareholders of K Bank Inc. According to the shareholder agreement, if K Bank Inc fails to be listed on the terms agreed in the shareholder agreement, the shareholders of K Bank Inc may exercise their Drag-Along right to the Group and require the Group to sell all the shares owned by such shareholders in K Bank to third parties based on the guaranteed return agreed in the shareholder agreement. The shareholder agreement also includes a call option where, if the shareholders exercise their Drag-Along rights, the Group has an option to purchase the shares held by those shareholders. As of December 31, 2024, the derivative financial liability in accordance with IFRS 9 associated with the rights prescribed in the shareholders agreement was ￦ ￦ |
| 2 | The amount includes derivatives separated from convertible bonds issued by the Group (Note 15). |
(in millions of Korean won) | 2022 | 2023 | 2024 | |||||||||||||||||||||
Valuation gain | Valuation loss | Valuation gain | Valuation loss | Valuation gain | Valuation loss | |||||||||||||||||||
Derivatives liabilities held for trading | ||||||||||||||||||||||||
8 | Inventories |
(In millions of Korean won) | December 31, 2023 | December 31, 2024 | ||||||||||||||||||||||
Acquisition cost | Valuation allowance | Carrying amount | Acquisition cost | Valuation allowance | Carrying amount | |||||||||||||||||||
Merchandise | ￦ | ( | ) | ( | ) | |||||||||||||||||||
Others | — | ( | ) | |||||||||||||||||||||
Total | ￦ | ( | ) | ( | ) | |||||||||||||||||||
9 | Other Assets and Liabilities |
(In millions of Korean won) | December 31, 2023 | December 31, 2024 | ||||||
Other assets | ||||||||
Advance payments | ￦ | |||||||
Prepaid expenses | ||||||||
Contract cost | ||||||||
Contract assets | ||||||||
Others | ||||||||
Less: Non-current | ( | ) | ( | ) | ||||
Current | ￦ | |||||||
Other liabilities | ||||||||
Advances received | ￦ | |||||||
Withholdings | ||||||||
Unearned revenue | ||||||||
Lease liabilities | ||||||||
Contract liabilities | ||||||||
Others | ||||||||
Less: Non-current | ( | ) | ( | ) | ||||
Current | ￦ | |||||||
10 | Property and Equipment |
(in millions of Korean won) | 2023 | |||||||||||||||||||||||
Land | Buildings and structures | Machinery and equipment | Others | Construction- in-progress | Total | |||||||||||||||||||
Acquisition cost | ￦ | | ||||||||||||||||||||||
Less: Accumulated depreciation (including accumulated impairment loss and others) | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||
Beginning, net | ||||||||||||||||||||||||
Acquisition and capital expenditure | ||||||||||||||||||||||||
Disposal and termination | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||
Depreciation | — | ( | ) | ( | ) | ( | ) | — | ( | ) | ||||||||||||||
Impairment (recovery of impairment) | — | — | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||||
Transfer in (out) | ( | ) | ( | ) | ||||||||||||||||||||
Transfer from (to) investment properties | ( | ) | ( | ) | — | — | ( | ) | ( | ) | ||||||||||||||
Acquisitions and dispositions of subsidiaries | ( | ) | ( | ) | ( | ) | ||||||||||||||||||
Others | ( | ) | ( | ) | ( | ) | ||||||||||||||||||
Ending, net | ￦ | |||||||||||||||||||||||
Acquisition cost | ￦ | |||||||||||||||||||||||
Less: Accumulated depreciation (including accumulated impairment loss and others) | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||
(in millions of Korean won) | 2024 | |||||||||||||||||||||||
(in millions of Korean won) | Land | Buildings and structures | Machinery and equipment | Others | Construction- in-progress | Total | ||||||||||||||||||
Acquisition cost | ￦ | |||||||||||||||||||||||
Less: Accumulated depreciation (including accumulated impairment loss and others) | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||
Beginning, net | ||||||||||||||||||||||||
Acquisition and capital expenditure | ||||||||||||||||||||||||
Disposal and termination | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||
Depreciation | — | ( | ) | ( | ) | ( | ) | — | ( | ) | ||||||||||||||
Impairment (recovery of impairment) | — | — | ( | ) | ( | ) | — | ( | ) | |||||||||||||||
Transfer in (out) | ( | ) | ( | ) | ||||||||||||||||||||
Transfer from (to) investment properties | — | — | ||||||||||||||||||||||
Acquisitions and dispositions of subsidiaries | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||||||
Others | ( | ) | ||||||||||||||||||||||
Ending, net | ￦ | |||||||||||||||||||||||
Acquisition cost | ￦ | |||||||||||||||||||||||
Less: Accumulated depreciation (including accumulated impairment loss and others) | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||
11 | Investment Properties |
(in millions of Korean won) | 2023 | |||||||||||||||
Land | Buildings | Construction- in-progress | Total | |||||||||||||
Acquisition cost | ￦ | |||||||||||||||
Less: Accumulated depreciation | ( | ) | ( | ) | — | ( | ) | |||||||||
Beginning, net | ||||||||||||||||
Acquisition | ||||||||||||||||
Disposal | ( | ) | ( | ) | ( | ) | ||||||||||
Depreciation | — | ( | ) | — | ( | ) | ||||||||||
Transfer from property and equipment | ||||||||||||||||
Transfer and others | ( | ) | ( | ) | ||||||||||||
Ending, net | ￦ | |||||||||||||||
Acquisition cost | ￦ | |||||||||||||||
Less: Accumulated depreciation | ( | ) | ( | ) | — | ( | ) | |||||||||
(in millions of Korean won) | 2024 | |||||||||||||||
Land | Buildings | Construction- in-progress | Total | |||||||||||||
Acquisition cost | ￦ | |||||||||||||||
Less: Accumulated depreciation | ( | ) | ( | ) | — | ( | ) | |||||||||
Beginning, net | ||||||||||||||||
Acquisition | ||||||||||||||||
Disposal | ( | ) | ( | ) | ( | ) | ||||||||||
Depreciation | — | ( | ) | — | ( | ) | ||||||||||
Transfer from property and equipment | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
Transfer and others | ( | ) | ( | ) | ( | ) | ||||||||||
Ending, net | ￦ | |||||||||||||||
Acquisition cost | ￦ | |||||||||||||||
Less: Accumulated depreciation | ( | ) | ( | ) | — | ( | ) | |||||||||
12 | Intangible Assets |
(in millions of Korean won) | 2023 | |||||||||||||||||||||||
Goodwill | Development costs | Software | Frequency usage rights | Others | Total | |||||||||||||||||||
Acquisition cost | ￦ | |||||||||||||||||||||||
Less: Accumulated amortization (including accumulated impairment loss and others) | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||
Beginning, net | ||||||||||||||||||||||||
Acquisition and capital expenditure 1 | — | |||||||||||||||||||||||
Disposal and termination | ( | ) | ( | ) | — | ( | ) | ( | ) | |||||||||||||||
Amortization 2 | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||||
Impairment | ( | ) | ( | ) | ( | ) | — | ( | ) | ( | ) | |||||||||||||
Acquisition and disposition of businesses | — | ( | ) | — | ( | ) | ||||||||||||||||||
Others | ||||||||||||||||||||||||
Ending, net | ￦ | |||||||||||||||||||||||
Acquisition cost | ￦ | |||||||||||||||||||||||
Less: Accumulated amortization (including accumulated impairment loss and others) | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||
| 1 | The amounts include the transferred amount from Property and Equipment account. |
| 2 | Amounts include ￦ |
(in millions of Korean won) | 2024 | |||||||||||||||||||||||
Goodwill | Development costs | Software | Frequency usage rights | Others | Total | |||||||||||||||||||
Acquisition cost | ￦ | |||||||||||||||||||||||
Less: Accumulated amortization (including accumulated impairment loss and others) | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||
Beginning, net | ||||||||||||||||||||||||
Acquisition and capital expenditure 1 | — | |||||||||||||||||||||||
Disposal and termination | — | ( | ) | ( | ) | — | ( | ) | ( | ) | ||||||||||||||
Amortization | — | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | |||||||||||||
Impairment | ( | ) | ( | ) | — | ( | ) | ( | ) | |||||||||||||||
Acquisition and disposition of businesses | ( | ) | ( | ) | — | ( | ) | ( | ) | |||||||||||||||
Others | ( | ) | ||||||||||||||||||||||
Ending, net | ￦ | |||||||||||||||||||||||
Acquisition cost | ￦ | |||||||||||||||||||||||
Less: Accumulated amortization (including accumulated impairment loss and others) | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||
| 1 | The amounts include the transferred amount from Property and Equipment account. |
(in millions of Korean won) | ||||
Cash generating Unit | Amount | |||
Mobile services 1,9 | ￦ | |||
BC Card Co., Ltd. 2 | ||||
HCN Co., Ltd. 3 | ||||
GENIE Music Corporation 4 | ||||
MILLIE Co., Ltd. 5 | ||||
PlayD Co., Ltd. 6 | ||||
KT Telecop Co., Ltd. 7 | ||||
Epsilon Global Communications Pte. Ltd. 8 | ||||
KT MOS Bukbu Co., Ltd and others | ||||
Total | ￦ | |||
| 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 |
| impairment test, the Group concluded that the carrying amount of the CGU does not exceed the recoverable amount. Accordingly, the Group did |
| 2 | 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 |
| 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 |
| 4 | 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 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 |
| 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 |
13 |
Investments in Associates and Joint Ventures |
Percentage of ownership (%) |
Location |
Closing month |
||||||||||||||
|
December 31, 2023 |
December 31, 2024 |
|||||||||||||||
|
KIF Investment Fund |
% | % | ||||||||||||||
|
K Bank Inc. |
% | % | ||||||||||||||
|
HD Hyundai Robotics Co., Ltd. 1 |
% | % | ||||||||||||||
|
Megazone Cloud Corporation 1 |
% | % | ||||||||||||||
|
IGIS
No. 468-1 General Private Real Estate Investment Company |
% | % | ||||||||||||||
|
KT-DSC Creative Economy Youth Start-up Investment Fund |
% | % | ||||||||||||||
|
IGIS No. 395 Professional Investors Private Investment Real Estate Investment LLC |
% | % | ||||||||||||||
| 1 |
As of December 31, 2024, although the Group has less than 20% ownership in ordinary share, this entity is included in investments in associates as the Group has significant influence in determining the operational and financial policies. |
2023 |
||||||||||||||||||||
(In millions of Korean won) |
Beginning |
Acquisition (Disposal) |
Share of net profit (loss) from associates and joint ventures 1 |
Others |
Ending |
|||||||||||||||
|
KIF Investment Fund |
￦ |
— | ||||||||||||||||||
|
K Bank Inc. |
— | |||||||||||||||||||
|
HD Hyundai Robotics Co., Ltd. |
— | ( |
) | ( |
) | |||||||||||||||
|
Megazone Cloud Corporation |
( |
) | ||||||||||||||||||
|
IGIS
No. 468-1 General Private Real Estate Investment Company |
( |
) | — | |||||||||||||||||
|
KT-DSC Creative Economy Youth Start-up Investment Fund |
( |
) | ||||||||||||||||||
|
IGIS Professional Investors Private Investment Real Estate Investment LLC No 395 |
— | ( |
) | — | ||||||||||||||||
|
LS Marine Solution Co., Ltd. |
— | — | ||||||||||||||||||
|
Others |
( |
) | ( |
) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Total |
￦ |
( |
) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
2024 |
||||||||||||||||||||
(In millions of Korean won) |
Beginning |
Acquisition (Disposal) |
Share of net profit (loss) from associates and joint ventures 1 |
Others |
Ending |
|||||||||||||||
|
KIF Investment Fund |
￦ |
— | ||||||||||||||||||
|
K Bank Inc. |
||||||||||||||||||||
|
HD Hyundai Robotics Co., Ltd. |
( |
) | ( |
) | ||||||||||||||||
|
Megazone Cloud Corporation |
— | ( |
) | |||||||||||||||||
|
IGIS
No. 468-1 General Private Real Estate Investment Company |
— | ( |
) | — | ||||||||||||||||
|
KT-DSC Creative Economy Youth Start-up Investment Fund |
( |
) | ( |
) | ( |
) | ||||||||||||||
|
IGIS No. 395 Professional Investors Private Investment Real Estate Investment LLC |
— | ( |
) | — | ||||||||||||||||
|
LS Marine Solution Co., Ltd. |
( |
) | ( |
) | ||||||||||||||||
|
Others |
( |
) | ( |
) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Total |
￦ |
( |
) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| 1 |
The amount represents the fair value of investment at the time the Company lost control (Refer to note above). |
(in millions of Korean won) |
December 31, 2023 |
|||||||||||||||
Current assets |
Non-current assets |
Current liabilities |
Non-current liabilities |
|||||||||||||
|
KIF Investment Fund |
￦ |
— | — | |||||||||||||
|
K Bank Inc. |
||||||||||||||||
|
HD Hyundai Robotics Co., Ltd. |
||||||||||||||||
|
Megazone Cloud Corporation |
||||||||||||||||
|
IGIS
No. 468-1 General Private Real Estate Investment Company |
— | |||||||||||||||
|
KT-DSC Creative Economy Youth Start-up Investment Fund |
— | |||||||||||||||
|
IGIS No. 395 Professional Investors Private Investment Real Estate Investment LLC |
— | |||||||||||||||
|
LS Marine Solution Co., Ltd . |
||||||||||||||||
(in millions of Korean won) |
December 31, 2024 |
|||||||||||||||
Current assets |
Non-current assets |
Current liabilities |
Non-current liabilities |
|||||||||||||
|
KIF Investment Fund |
￦ |
— | — | |||||||||||||
|
K Bank Inc. |
||||||||||||||||
|
HD Hyundai Robotics Co., Ltd. |
||||||||||||||||
|
Megazone Cloud Corporation |
||||||||||||||||
|
IGIS
No. 468-1 General Private Real Estate Investment Company |
— | |||||||||||||||
|
KT-DSC Creative Economy Youth Start-up Investment Fund |
— | |||||||||||||||
|
IGIS No. 395 Professional Investors Private Investment Real Estate Investment LLC |
— | |||||||||||||||
(In millions of Korean won) |
2023 |
|||||||||||||||||||
Operating revenue |
Profit (loss) for the year |
Other comprehensive income (loss) |
Total comprehensive income (loss) |
Dividends received from associates |
||||||||||||||||
|
KIF Investment Fund |
￦ |
|||||||||||||||||||
|
K Bank Inc. |
— | |||||||||||||||||||
|
Hyundai Robotics Co., Ltd. |
( |
) | ( |
) | ( |
) | — | |||||||||||||
|
Megazone Cloud Corporation |
( |
) | ( |
) | ( |
) | — | |||||||||||||
|
IGIS
No. 468-1 General Private Real Estate Investment Company |
( |
) | — | ( |
) | — | ||||||||||||||
|
KT-DSC Creative Economy Youth Start-up Investment Fund |
— | — | ||||||||||||||||||
|
IGIS No. 395 Professional Investors Private Investment Real Estate Investment LLC |
— | ( |
) | — | ( |
) | — | |||||||||||||
|
LS Marine Solution Co., Ltd . |
( |
) | — | |||||||||||||||||
(In millions of Korean won) | 2024 | |||||||||||||||||||
Operating revenue | Profit (loss) for the year | Other comprehensive income (loss) | Total comprehensive income (loss) | Dividends received from associates | ||||||||||||||||
KIF Investment Fund | ￦ | |||||||||||||||||||
K Bank Inc. | — | |||||||||||||||||||
Hyundai Robotics Co., Ltd. | ( | ) | ( | ) | — | |||||||||||||||
Megazone Cloud Corporation | ( | ) | — | |||||||||||||||||
IGIS No. 468-1 General Private Real Estate Investment Company | ( | ) | — | ( | ) | — | ||||||||||||||
KT-DSC Creative Economy Youth Start-up Investment Fund | ( | ) | — | ( | ) | |||||||||||||||
IGIS No. 395 Professional Investors Private Investment Real Estate Investment LLC | — | ( | ) | — | ( | ) | — | |||||||||||||
(in millions of Korean won) | 2023 | |||||||||||||||||||
Net assets (a) | Percentage of ownership (b) | Share in net assets (c)=(a)x(b) | Intercompany transaction and others (d) | Book amount (c)+(d) | ||||||||||||||||
KIF Investment Fund | ￦ | % | — | |||||||||||||||||
K Bank Inc. | % | |||||||||||||||||||
Hyundai Robotics Co., Ltd. | % | |||||||||||||||||||
Megazone Cloud Corporation | % | |||||||||||||||||||
IGIS No. 468-1 General Private Real Estate Investment Company | % | — | ||||||||||||||||||
KT-DSC Creative Economy Youth Start-up Investment Fund | % | — | ||||||||||||||||||
IGIS No. 395 Professional Investors Private Investment Real Estate Investment LLC | % | ( | ) | |||||||||||||||||
LS Marine Solution Co., Ltd . | % | |||||||||||||||||||
(in millions of Korean won) | 2024 | |||||||||||||||||||
Net assets (a) | Percentage of ownership (b) | Share in net assets (c)=(a)x(b) | Intercompany transaction and others (d) | Book amount (c)+(d) | ||||||||||||||||
KIF Investment Fund | ￦ | % | — | |||||||||||||||||
K Bank Inc. | % | |||||||||||||||||||
Hyundai Robotics Co., Ltd. | % | |||||||||||||||||||
Megazone Cloud Corporation | % | |||||||||||||||||||
IGIS No. 468-1 General Private Real Estate Investment Company | % | — | ||||||||||||||||||
KT-DSC Creative Economy Youth Start-up Investment Fund | % | — | ||||||||||||||||||
IGIS No. 395 Professional Investors Private Investment Real Estate Investment LLC | % | ( | ) | |||||||||||||||||
14 | Trade and Other Payables |
(In millions of Korean won) | December 31, 2023 | December 31, 2024 | ||||||
Current liabilities | ||||||||
Trade payables | ￦ | |||||||
Other payables | ||||||||
Total | ￦ | |||||||
Non-current liabilities | ||||||||
Trade payables | ￦ | |||||||
Other payables | ||||||||
Total | ￦ | |||||||
| (2) | Details of other payables as of December 31, 2023 and 2024, are as follows: |
(In millions of Korean won) | December 31, 2023 | December 31, 2024 | ||||||
Non-trade payables1 | ￦ | |||||||
Accrued expenses | ||||||||
Operating deposits | ||||||||
Others | ||||||||
Less: non-current | ( | ) | ( | ) | ||||
Current | ￦ | |||||||
1 | As of December 31, 2024, credit sale liabilities amounting to ￦ ￦ |
15 | Borrowings |
| (1) | Details of borrowings as of December 31, 2023 and 2024, are as follows: |
1) | Debentures |
(In millions of Korean won and foreign currencies in thousands) | December 31, 2023 | December 31, 2024 | ||||||||||||||||||||
Type | Maturity | Annual interest rates | Foreign currency | Korean won | Foreign currency | Korean won | ||||||||||||||||
MTNP notes 1 | USD | ￦ | USD | ￦ | ||||||||||||||||||
MTNP notes | USD | USD | ||||||||||||||||||||
MTNP notes | — | JPY | — | — | ||||||||||||||||||
MTNP notes | USD | USD | ||||||||||||||||||||
FR notes 2 | — | USD | — | — | ||||||||||||||||||
MTNP notes | USD | USD | ||||||||||||||||||||
MTNP notes | USD | USD | ||||||||||||||||||||
MTNP notes | — | — | USD | |||||||||||||||||||
The 183-3rd Public bond | — | — | ||||||||||||||||||||
The 184-3rd Public bond | — | — | ||||||||||||||||||||
The 186-3rd Public bond | — | — | — | — | ||||||||||||||||||
The 186-4th Public bond | — | — | ||||||||||||||||||||
The 187-3rd Public bond | — | — | — | — | ||||||||||||||||||
The 187-4th Public bond | — | — | ||||||||||||||||||||
The 188-2nd Public bond | — | — | ||||||||||||||||||||
The 188-3rd Public bond | — | — | ||||||||||||||||||||
The 189-3rd Public bond | — | — | ||||||||||||||||||||
The 189-4th Public bond | — | — | ||||||||||||||||||||
The 190-3rd Public bond | — | — | ||||||||||||||||||||
The 190-4th Public bond | — | — | ||||||||||||||||||||
The 191-2nd Public bond | — | — | — | — | ||||||||||||||||||
The 191-3rd Public bond | — | — | ||||||||||||||||||||
The 191-4th Public bond | — | — | ||||||||||||||||||||
The 192-2nd Public bond | — | — | — | — | ||||||||||||||||||
The 192-3rd Public bond | — | — | ||||||||||||||||||||
The 192-4th Public bond | — | — | ||||||||||||||||||||
The 193-2nd Public bond | — | — | ||||||||||||||||||||
The 193-3rd Public bond | — | — | ||||||||||||||||||||
The 193-4th Public bond | — | — | ||||||||||||||||||||
The 194-1st Public bond | — | — | — | — | ||||||||||||||||||
The 194-2nd Public bond | — | — | ||||||||||||||||||||
The 194-3rd Public bond | — | — | ||||||||||||||||||||
The 194-4th Public bond | — | — | ||||||||||||||||||||
(In millions of Korean won and foreign currencies in thousands) | December 31, 2023 | December 31, 2024 | ||||||||||||||||||||
Type | Maturity | Annual interest rates | Foreign currency | Korean won | Foreign currency | Korean won | ||||||||||||||||
The 195-1st Public bond | — | — | — | — | ||||||||||||||||||
The 195-2nd Public bond | — | — | ||||||||||||||||||||
The 195-3rd Public bond | — | — | ||||||||||||||||||||
The 196-1st Public bond | — | — | ||||||||||||||||||||
The 196-2nd Public bond | — | — | ||||||||||||||||||||
The 196-3rd Public bond | — | — | ||||||||||||||||||||
The 197-1st Public bond | — | — | ||||||||||||||||||||
The 197-2nd Public bond | — | — | ||||||||||||||||||||
The 198-1st Public bond | — | — | ||||||||||||||||||||
The 198-2nd Public bond | — | — | ||||||||||||||||||||
The 198-3rd Public bond | — | — | ||||||||||||||||||||
The 199-1st Public bond | — | — | ||||||||||||||||||||
The 199-2nd Public bond | — | — | ||||||||||||||||||||
The 199-3rd Public bond | — | — | ||||||||||||||||||||
The 200-1st Public bond | — | — | — | |||||||||||||||||||
The 200-2nd Public bond | — | — | — | |||||||||||||||||||
The 200-3rd Public bond | — | — | — | |||||||||||||||||||
The 201-1st Public bond | — | — | — | |||||||||||||||||||
The 201-2nd Public bond | — | — | — | |||||||||||||||||||
The 201-3rd Public bond | — | — | — | |||||||||||||||||||
The 18-1st unsecured bond | — | — | — | |||||||||||||||||||
The 18-2nd unsecured bond | — | — | ||||||||||||||||||||
The 19-1nd unsecured bond | — | — | — | |||||||||||||||||||
The 19-2nd unsecured bond | — | — | — | |||||||||||||||||||
The 149-1st Won-denominated unsecured bond | — | — | — | — | ||||||||||||||||||
The 149-2nd Won-denominated unsecured bond | — | — | ||||||||||||||||||||
The 150-2nd Won-denominated unsecured bond | — | — | — | — | ||||||||||||||||||
The 151-2nd Won-denominated unsecured bond | — | — | — | — | ||||||||||||||||||
The 152-1st Won-denominated unsecured bond | — | — | — | — | ||||||||||||||||||
The 152-2nd Won-denominated unsecured bond | — | — | ||||||||||||||||||||
The 153-2nd Won-denominated unsecured bond | — | — | — | — | ||||||||||||||||||
The 154th Won-denominated unsecured bond | — | — | ||||||||||||||||||||
The 155-1st Won-denominated unsecured bond | — | — | — | — | ||||||||||||||||||
The 155-2nd Won-denominated unsecured bond | — | — | — | — | ||||||||||||||||||
The 155-3rd Won-denominated unsecured bond | — | — | ||||||||||||||||||||
The 156-1st Won-denominated unsecured bond 2 | — | — | ||||||||||||||||||||
The 156-2nd Won-denominated unsecured bond 2 | — | — | ||||||||||||||||||||
The 158th Won-denominated unsecured bond | — | — | ||||||||||||||||||||
The 159-1st Won-denominated unsecured bond | — | — | — | — | ||||||||||||||||||
The 159-2nd Won-denominated unsecured bond | — | — | ||||||||||||||||||||
The 160-1st Won-denominated unsecured bond | — | — | — | — | ||||||||||||||||||
The 160-2nd Won-denominated unsecured bond | — | — | — | — | ||||||||||||||||||
The 160-3rd Won-denominated unsecured bond | — | — | ||||||||||||||||||||
The 161-1st Won-denominated unsecured bond | — | — | — | — | ||||||||||||||||||
The 161-2nd Won-denominated unsecured bond | — | — | — | — | ||||||||||||||||||
The 161-3rd Won-denominated unsecured bond | — | — | ||||||||||||||||||||
The 161-4th Won-denominated unsecured bond | — | — | ||||||||||||||||||||
The 162-2nd Won-denominated unsecured bond | — | — | — | — | ||||||||||||||||||
The 162-3rd Won-denominated unsecured bond | — | — | — | — | ||||||||||||||||||
The 163-1st Won-denominated unsecured bond | — | — | ||||||||||||||||||||
The 163-2nd Won-denominated unsecured bond | — | — | ||||||||||||||||||||
The 164-1st Won-denominated unsecured bond | — | — | — | — | ||||||||||||||||||
The 164-2nd Won-denominated unsecured bond | — | — | — | — | ||||||||||||||||||
The 164-3rd Won-denominated unsecured bond | — | — | ||||||||||||||||||||
The 165-1st Won-denominated unsecured bond | — | — | ||||||||||||||||||||
The 165-2nd Won-denominated unsecured bond | — | — | ||||||||||||||||||||
The 165-3rd Won-denominated unsecured bond | — | — | ||||||||||||||||||||
(In millions of Korean won and foreign currencies in thousands) |
December 31, 2023 |
December 31, 2024 |
||||||||||||||||||||
Type |
Maturity |
Annual interest rates |
Foreign currency |
Korean won |
Foreign currency |
Korean won |
||||||||||||||||
|
The
166-1st Won-denominated unsecured bond |
— | — | — | — | ||||||||||||||||||
|
The
166-2nd Won-denominated unsecured bond |
— | — | ||||||||||||||||||||
|
The
166-3rd Won-denominated unsecured bond |
— | — | ||||||||||||||||||||
|
The
166-4th Won-denominated unsecured bond |
— | — | ||||||||||||||||||||
|
The
167-1st Won-denominated unsecured bond |
— | — | — | — | ||||||||||||||||||
|
The
167-2nd Won-denominated unsecured bond |
— | — | ||||||||||||||||||||
|
The
167-3rd Won-denominated unsecured bond |
— | — | ||||||||||||||||||||
|
The
167-4th Won-denominated unsecured bond |
— | — | ||||||||||||||||||||
|
The
168-1st Won-denominated unsecured bond |
— | — | — | |||||||||||||||||||
|
The 168-2nd Won-denominated unsecured bond |
— | — | — | |||||||||||||||||||
|
The
168-3rd Won-denominated unsecured bond |
— | — | — | |||||||||||||||||||
|
The 169th
Won-denominated unsecured bond |
— | — | — | |||||||||||||||||||
|
The 170th
Won-denominated unsecured bond |
— | — | — | |||||||||||||||||||
|
The
171-1st Won-denominated unsecured bond |
— | — | — | |||||||||||||||||||
|
The
171-2nd Won-denominated unsecured bond |
— | — | — | |||||||||||||||||||
|
The
172-1st Won-denominated unsecured bond |
— | — | — | |||||||||||||||||||
|
The
172-2nd Won-denominated unsecured bond |
— | — | — | |||||||||||||||||||
|
The
172-3rd Won-denominated unsecured bond |
— | — | — | |||||||||||||||||||
|
The
173-1st Won-denominated unsecured bond |
— | — | — | |||||||||||||||||||
|
The
173-2nd Won-denominated unsecured bond |
— | — | — | |||||||||||||||||||
|
The
173-3rd Won-denominated unsecured bond |
— | — | — | |||||||||||||||||||
|
The 174th
Won-denominated unsecured bond |
— | — | — | |||||||||||||||||||
|
The
175-1st Won-denominated unsecured bond |
— | — | — | |||||||||||||||||||
|
The
175-2nd Won-denominated unsecured bond |
— | — | — | |||||||||||||||||||
|
The 176th
Won-denominated unsecured bond |
— | — | — | |||||||||||||||||||
|
|
|
|
|
|||||||||||||||||||
|
Subtotal |
||||||||||||||||||||||
|
Less: Current portion |
( |
) | ( |
) | ||||||||||||||||||
|
Discount on bonds |
( |
) | ( |
) | ||||||||||||||||||
|
|
|
|
|
|||||||||||||||||||
|
Total |
￦ |
￦ |
||||||||||||||||||||
|
|
|
|
|
|||||||||||||||||||
| 1 |
As of December 31, 2024, the Controlling Company has outstanding notes in the amount of USD 100 million with fixed interest rates under Medium Term Note Program (“MTNP”) registered on the Singapore Stock Exchange, which allowed issuance of notes of up to USD 2,000 million. However, the MTNP was terminated in 2007. |
| 2 |
The CMS (5Y) and CMS (10Y) is approximately |
2) |
Convertible bonds |
(In millions of Korean won) |
||||||||||||||||||||
Type |
Issuance Date |
Maturity |
Annual interest Rate |
December 31, 2023 |
December 31, 2024 |
|||||||||||||||
|
The 1st CB (Private) 1 |
Jun. 5, 2020 | ￦ |
||||||||||||||||||
|
Redemption premium |
||||||||||||||||||||
|
Conversion rights adjustment |
( |
) | ( |
) | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
|
Subtotal |
|
|||||||||||||||||||
|
Less: Current portion |
|
( |
) | ( |
) | |||||||||||||||
|
|
|
|
|
|||||||||||||||||
|
Total |
|
￦ |
— | — | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| 1 |
Common shares of Storywiz are subject to conversion |
| 2 |
Nominal interest rate and maturity yield is approximately |
3) |
Borrowings |
| a. |
Short-term borrowings |
(In millions of Korean won) |
December 31, 2023 |
December 31, 2024 |
||||||||||||||||||
Type |
Financial institution |
Annual interest rates |
Foreign currency |
Korean won |
Foreign currency |
Korean won |
||||||||||||||
|
Operational |
Shinhan Bank 1 |
— | ￦ |
— | ￦ |
|||||||||||||||
| — | — | — | ||||||||||||||||||
| — | — | — | ||||||||||||||||||
| — | — | |||||||||||||||||||
|
Woori Bank 1 |
— | — | ||||||||||||||||||
| — | — | — | ||||||||||||||||||
|
Korea Development Bank |
— | — | ||||||||||||||||||
|
Industrial Bank of Korea |
— | — | ||||||||||||||||||
|
Hana Bank |
— | — | — | — | ||||||||||||||||
|
KB SECURITIES |
— | — | ||||||||||||||||||
|
HSBC |
— | USD |
— | — | ||||||||||||||||
|
NongHyup Bank 1 |
— | — | ||||||||||||||||||
|
Korea Investment |
— | — | — | — | ||||||||||||||||
|
Standard Chartered Bank 1 |
— | — | — | |||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total | ￦ |
￦ |
||||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| 1 |
CD(91D) is approximately |
(In millions of Korean won and thousands of foreign currencies) | December 31, 2023 | December 31, 2024 | ||||||||||||||||||
Financial institution | Type | Annual interest rates | Foreign currency | Korean won | Foreign currency | Korean won | ||||||||||||||
| Export-Import Bank of Korea | Inter-Korean Cooperation Fund 1 | — | ￦ | — | ￦ | |||||||||||||||
CA-CIB | General loans | — | — | |||||||||||||||||
JPM | General loans | — | — | |||||||||||||||||
DBS | General loans | — | — | |||||||||||||||||
Shinhan Bank | General loans | — | — | — | ||||||||||||||||
| General loans 2 | USD | USD | ||||||||||||||||||
General loans | — | USD | — | — | ||||||||||||||||
General loans 3 | — | — | ||||||||||||||||||
General loans 2 | USD | USD | | |||||||||||||||||
General loans 2 | USD | USD | | |||||||||||||||||
General loans 2 | — | — | — | — | ||||||||||||||||
Woori Bank | General loans 2 | EUR | EUR | |||||||||||||||||
General loans | — | — | ||||||||||||||||||
Hi Investment & Securities | CP | — | — | |||||||||||||||||
Bookook Investment | CP | — | — | — | — | |||||||||||||||
Korea Investment | CP | — | — | |||||||||||||||||
Korea Development Bank | General loans | — | — | |||||||||||||||||
KDB Bank Uzbekistan | loans 4 | — | — | UZS | | |||||||||||||||
| loans 4 | — | — | USD | |||||||||||||||||
NH Jayang | PF loans 2 | — | — | |||||||||||||||||
Kyobo Life Insurance | PF loans 2 | — | — | |||||||||||||||||
Standard Chartered Bank Korea | PF loans 2 | — | — | |||||||||||||||||
General loans | — | — | — | — | ||||||||||||||||
Samsung Life Insurance | PF loans | — | — | |||||||||||||||||
Kookmin Bank | General loans | — | — | — | ||||||||||||||||
Subtotal | ||||||||||||||||||||
Less: Current portion | ( | ) | ( | ) | ||||||||||||||||
Total | ￦ | ￦ | ||||||||||||||||||
| 1 | 7-year grace period. |
| 2 | EURIBOR (3M), Term SOFR (3M) and CD (91D) are approximately |
| 3 | The general loans are repayable in installments over 4 years after a three-year grace period. |
| 4 | The general loans are repayable in installments over 3 years after a two-year grace period. |
| (2) | Repayment schedule of the Group’s debentures and borrowings including the portion of current liabilities as of December 31, 2024, is as follows: |
(In millions of Korean won) | ||||||||||||||||||||||||||||
Bonds | Borrowings | Total | ||||||||||||||||||||||||||
In local currency | In foreign currency | Sub- total | In local currency | In foreign currency | Sub- total | |||||||||||||||||||||||
Jan.1, 2025 ~ Dec.31 2025 | ￦ | |||||||||||||||||||||||||||
Jan.1, 2026 ~ Dec.31 2026 | ||||||||||||||||||||||||||||
Jan.1, 2027 ~ Dec.31 2027 | ||||||||||||||||||||||||||||
Jan.1, 2028 ~ Dec.31 2028 | ||||||||||||||||||||||||||||
After Jan.1, 2029 | ||||||||||||||||||||||||||||
Total | ￦ | |||||||||||||||||||||||||||
16. | Provisions |
2023 | ||||||||||||||||
(In millions of Korean won) | Litigation | Restoration cost | Others | Total | ||||||||||||
Beginning balance | ￦ | |||||||||||||||
Increase (transfer) | ||||||||||||||||
Usage | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
Reversal | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
Changes in consolidation scope | — | — | ( | ) | ( | ) | ||||||||||
Others | — | ( | ) | |||||||||||||
Ending balance | ￦ | |||||||||||||||
Less: Current | ￦ | ( | ) | ( | ) | ( | ) | ( | ) | |||||||
Non-current | ||||||||||||||||
2024 | ||||||||||||||||
(In millions of Korean won) | Litigation | Restoration cost | Others | Total | ||||||||||||
Beginning balance | ￦ | |||||||||||||||
Increase (transfer) | ||||||||||||||||
Usage | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
Reversal | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
Others | — | ( | ) | ( | ) | |||||||||||
Ending balance | ￦ | |||||||||||||||
Less: Current | ￦ | ( | ) | ( | ) | ( | ) | ( | ) | |||||||
Non-current | ||||||||||||||||
17. | Net Defined Benefit Liabilities (Assets) |
| (1) | The amounts recognized in the statements of financial position as of December 31, 2023 and 2024, are determined as follows: |
(In millions of Korean won) | December 31, 2023 | December 31, 2024 | ||||||
Present value of defined benefit obligations | ￦ | |||||||
Fair value of plan assets | ( | ) | ( | ) | ||||
Liabilities | ￦ | |||||||
Assets | ￦ | |||||||
| (2) | Changes in the defined benefit obligations for the years ended December 31, 2023 and 2024, are as follows: |
(In millions of Korean won) | 2023 | 2024 | ||||||
Beginning | ￦ | |||||||
Current service cost | | | ||||||
Interest expense | ||||||||
Benefit paid | ( | ) | ( | ) | ||||
Changes due to settlements of plan & Past Service Cost | ||||||||
Remeasurements: | ||||||||
Actuarial gains (losses) arising from changes in demographic assumptions | ||||||||
Actuarial gains (losses) arising from changes in financial assumptions | ||||||||
Actuarial gains arising from experience adjustments | ||||||||
Acquisition and disposition of businesses, etc | ( | ) | ||||||
Ending | ￦ | |||||||
| (3) | Changes in the fair value of plan assets for the years ended December 31, 2023 and 2024, are as follows: |
(In millions of Korean won) | 2023 | 2024 | ||||||
Beginning | ￦ | |||||||
Interest income | ||||||||
Remeasurements: | ||||||||
Return on plan assets (excluding amounts included in interest income) | ( | ) | ||||||
Benefits paid | ( | ) | ( | ) | ||||
Employer contributions | | | ||||||
Acquisition and disposition of businesses, etc. | ( | ) | ||||||
Ending | ￦ | |||||||
| (4) | Amounts recognized in the consolidated statement of profit or loss for the years ended December 31, 2022, 2023 and 2024, are as follows: |
(in millions of Korean won) | 2022 | 2023 | 2024 | |||||||||
Current service cost | ￦ | ￦ | ￦ | |||||||||
Net Interest cost | ( | ) | ( | ) | ||||||||
Changes due to settlements of plan & Past Service Cost | ( | ) | ( | ) | ||||||||
Transfer in(out) | ( | ) | ( | ) | ||||||||
Total expenses | ￦ | ￦ | ￦ | |||||||||
| (5) | Principal actuarial assumptions used are as follows: |
December 31, 2022 | December 31, 2023 | December 31, 2024 | ||||||||||
Discount rate | ||||||||||||
Salary growth rate | ||||||||||||
| (6) | The sensitivity of the defined benefit obligations as of December 31, 2024, to changes in the principal assumptions is: |
(in percentage, in millions of Korean won) | Effect on defined benefit obligation | |||||||||
Changes in assumption | Increase in assumption | Decrease in assumption | ||||||||
Discount rate | ￦ ( | |||||||||
Salary growth rate | ( | ) | ||||||||
| (7) | Effect of defined benefit plan on future cash flows |
(in millions of Korean won) | Less than 1 year | Between 1-2 years | Between 2-5 years | Over 5 years | Total | |||||||||||||||
Pension benefits | ￦ | ￦ | ￦ | ￦ | ￦ | |||||||||||||||
| (8) | The weighted average duration of the defined benefit obligations is |
18. | Defined Contribution Plan |
19. | Commitments and Contingencies |
| (1) | As of December 31, 2024, major commitments with local financial institutions are as follows: |
(In millions of Korean won and foreign currencies in thousands) | Financial institution | Limit | Used amount | |||||||
Bank overdraft | Kookmin Bank and others | ￦ | ||||||||
Inter-Korean Cooperation Fund | Export-Import Bank of Korea | |||||||||
Economic Cooperation Business Insurance | Export-Import Bank of Korea | |||||||||
Collateralized loan on electronic accounts receivable-trade | Kookmin Bank and others | |||||||||
Plus electronic notes payable | Industrial Bank of Korea | |||||||||
Working capital loan | Korea Development Bank and others | |||||||||
Shinhan Bank | USD | USD | ||||||||
Woori Bank | EUR | EUR | ||||||||
Facility loans | Shinhan Bank and others | |||||||||
Derivatives transaction limit | Korea Development Bank and others | USD | USD | |||||||
| Total | KRW | |||||||||
| USD | USD | USD | ||||||||
| EUR | EUR | EUR | ||||||||
| (2) | As of December 31, 2024, guarantees received from financial institutions are as follows: |
(In millions of Korean won and foreign currencies in thousands) | Financial institution | Limit | ||
Hana Bank | Guarantee for payment in Korean currency | |||
| Comprehensive credit line and others | ||||
| Guarantee for payment in foreign currency | USD | |||
| Comprehensive credit line and others | USD | |||
| Performance guarantee and others | USD | |||
Kookmin Bank | Guarantee for payment in foreign currency | USD | ||
Shinhan Bank | Guarantee for payment in Korean currency | |||
Guarantee for payment in foreign currency and others | USD | |||
| Corporate card issuance guarantee | VND | |||
Woori Bank | Guarantee for payment in Korean currency | |||
| Guarantee for payment in foreign currency | USD | |||
| Guarantee for payment in foreign currency | EUR | |||
| Performance guarantee and others | USD | |||
HSBC | Guarantees for depositions | USD | ||
Seoul Guarantee Insurance Company | Performance guarantee and others | |||
Korea Software Financial Cooperative | Performance guarantee and others | |||
Korea Specialty Contractor Financial Cooperative | Performance guarantee and others |
(In millions of Korean won and foreign currencies in thousands) | Financial institution | Limit | ||
Korea Housing Finance Corporation | Performance guarantee and others | |||
Korea Housing & Urban Guarantee Corporation 1 | Performance guarantee and others | |||
Information & Communication Financial Cooperative | Performance guarantee and others | |||
Total | KRW | |||
| USD | ||||
| EUR | ||||
| VND | ||||
| 1 | Inventory assets ( ￦ ￦ |
| (3) | As of December 31, 2024, guarantees provided by the Group to third parties are as follows: |
(In millions of Korean won) | Subject to payment guarantees | Creditor | Limit | Used amount | Period | |||||||||||
KT Estate Inc | Wonju Bando U-bora Mark Bridge Buyer | Hana Bank | ~ | | ||||||||||||
KT Engineering Co., Ltd. 1 | Shinhan Bank | ~ | | |||||||||||||
Nasmedia Co., Ltd. | Members | Korea Securities Finance Corp | — | |||||||||||||
| 1 | KT Engineering Co., Ltd., a subsidiary of the Group, is subject to payment, depending on the reimbursement of principal debtor. |
| (4) | The Controlling Company is jointly and severally obligated with KT Sat Co., Ltd., a subsidiary, to pay KT Sat Co., Ltd.’s liabilities incurred prior to spin-off. As of December 31, 2024, the Controlling Company and KT Sat Co., Ltd. are jointly and severally liable for reimbursement of ￦ |
| (5) | For the year ended December 31, 2023 and 2024 the Group entered into agreements with the Securitization Specialty Companies (2023: First 5G 67 th to 72nd Securitization Specialty Co., Ltd. 2024: First 5G 73rd to 78th Securitization Specialty Co., Ltd.,) and disposed of its trade receivables related to handset sales. The Group also made asset management agreements with each securitization specialty company and in accordance with the agreement, the Group will receive asset management fees upon liquidation of the securitization specialty company. |
| (6) | As of December 31, 2024, the Group is a defendant in ￦ ￦ ￦ |
| (7) | Under the agreement of bond issuance and borrowings, the Group is required to maintain certain financial ratios such as debt-to-equity |
| and report to the creditors periodically. The covenant also contains restriction on provision of additional collateral and disposal of certain assets. |
| (8) | As of December 31, 2024, the Group participates in Algerie Sidi Abdela new town development consortium (percentage of ownership: |
| (9) | As of December 31, 2024, the contract amount of properties and equipments acquisition agreement made but not yet recognized amounts to ￦ ￦ |
| (10) | As of December 31, 2024, there are derivatives generated by the Group granting Drag-Along Right to financial investors participating in paid-in capital increase of K Bank Inc. (Note 7). |
| (11) | The Group entered into an agreement with financial investors of Epsilon Global Communications Pte regarding the acquisition of shares contract. If certain conditions are not met in the future as disclosed in the terms and conditions of the agreement, financial investors may exercise Tag-Along Right, Drag-Along Right, and the right to sell shares for the convertible preferred shares they hold (Note 7). |
| (12) | The Group has an obligation for additional contributions as per agreement to Storm Ventures FUND VII and others. As of December 31, 2024, remaining amounts of USD |
| (13) | As of December 31, 2024, the Group has the amount of ￦ ￦ ￦ |
| (14) | The Group has an agreement related to a stock sale contract with HYUNDAI MOBIS Co., Ltd., and HYUNDAI MOTOR COMPANY. If the Company intends to dispose of the acquired stocks to a third party after a certain period has elapsed from the date of the contract and the acquired stocks are to be disposed to a third party, HYUNDAI MOBIS Co., Ltd., and HYUND AI MOTOR COMPANY may exercise a preferential purchase right to designate a buyer with priority. |
| (15) | During the prior period, the Group entered into an agreement with equity investors who participated in the equity acquisition contract of kt Cloud Co., Ltd. According to this agreement, if conditions per the agreement are met, the financial investor may exercise a Tag-Along or a Put-Option to the Group in the future. In relation to this contract, the Group and the financial investor may settle mutual profits if there is a difference between the confirmed public offering price and the preliminary public offering price (Note 7). |
(16) | As of December 31, 2024, The Group has the obligation of paying Minimum Guarantee as utilizing product bundling of Tving Co., Ltd., and the right to be paid a certain proportion of the excess as per agreement. |
(17) | As of December 31, 2024, The Group entered into a shareholders’ agreement with the Government of Rwanda in connection with its equity investment in KT Rwanda. Under this agreement, the Company holds a put option that allows it to require the Government of Rwanda to purchase its shares in the event of a breach of the agreement. |
| (18) | Details of investment properties provided as collateral as December 31, 2023 and 2024, are as follows: |
(in millions of Korean won) | December 31, 2023 | |||||||||||||||||
Collateral | Carrying amount | Secured amount | Related account | Related amount | Mortgagee | |||||||||||||
Land and buildings | ￦ | |||||||||||||||||
Land and buildings | ||||||||||||||||||
(in millions of Korean won) | December 31, 2024 | |||||||||||||||||
Collateral | Carrying amount | Secured amount | Related account | Related amount | Mortgagee | |||||||||||||
Land and buildings | ￦ | |||||||||||||||||
Land and buildings | ||||||||||||||||||
| (19) | The Group has established a supplier finance agreement with some suppliers, and suppliers participating in the supplier finance agreement can receive early payment on invoices sent to the Group from the Group’s external finance provider. The Group pays the finance provider in accordance with the usual payment terms to settle the debt. As of December 31, 2024, all financial liabilities subject to the supplier finance agreement are included in trade and other payables, and the carrying amount is ￦ ￦ non-cash changes in the carrying amount of the trade and other payables included in the Group’s supplier finance agreement. |
20. | Leases |
| (1) | Amounts recognized in the consolidated statement of financial position |
(In millions of Korean won) | December 31, 2023 | December 31, 2024 | ||||||
Right-of-use | ||||||||
Property and building | ￦ | |||||||
Machinery and communication line facilities | ||||||||
Others | ||||||||
Total | ￦ | |||||||
(In millions of Korean won) | December 31, 2023 | December 31, 2024 | ||||||
Lease liabilities 1 | ||||||||
Current | ￦ | |||||||
Non-current | ||||||||
Total | ￦ | |||||||
| 1 | Included in the line items ‘Other current liabilities and other non-current liabilities’ in the consolidated statements of financial position (Notes 9). |
| (2) | Amounts recognized in the consolidated statement of profit or loss |
(in millions of Korean won) | December 31, 2022 | December 31, 2023 | December 31, 2024 | |||||||||
Depreciation of Right-of-use | ||||||||||||
Property and building | ￦ | ￦ | ￦ | |||||||||
Machinery and communication line facilities | ||||||||||||
Others | ||||||||||||
Total | ￦ | ￦ | ￦ | |||||||||
Depreciation of Investment Properties | ￦ | ￦ | — | ￦ | — | |||||||
Interest expense relating to lease liabilities | ||||||||||||
Expense relating to short-term leases | ||||||||||||
Expense relating to leases of low-value assets that are not short-term leases | ||||||||||||
Expense relating to variable lease payments not included in lease liabilities | ||||||||||||
21. | Share Capital |
December 31, 2023 | December 31, 2024 | |||||||||||||||||||||||
Number of issued shares | Par value per share (Korean won) | Ordinary Shares (in millions of Korean won) | Number of issued shares | Par value per share (Korean won) | Ordinary shares (in millions of Korean won) | |||||||||||||||||||
Ordinary shares 1 | ￦ | ￦ | ||||||||||||||||||||||
| 1 | The Group retired |
22. | Retained Earnings |
(in millions of Korean won) | December 31, 2023 | December 31, 2024 | ||||||
Legal reserve 1 | ￦ | ￦ | ||||||
Voluntary reserves 2 | ||||||||
Unappropriated retained earnings | ||||||||
Total | ￦ | ￦ | ||||||
| 1 | The Commercial Code of the Republic of Korea requires the Controlling Company to appropriate, as a legal reserve, an amount equal to a minimum of |
| 2 | The reserves of research and development of human resources in other surplus reserves are separately accumulated on disposal of retained earnings on tax filing adjustments when calculating income taxes in accordance with regulations of Tax Reduction and Exemption Control Act of Korea. Reversal of the reserves according to the relevant tax law can be paid out as dividends. |
23. | Accumulated Other Comprehensive Income and Other Components of Equity |
| (1) | As of December 31, 2023 and 2024, the details of the Controlling Company’s accumulated other comprehensive income are as follows: |
(in millions of Korean won) | December 31, 2023 | December 31, 2024 | ||||||
Changes in investments in associates and joint ventures | ￦ | ￦ | ||||||
Gain (loss) on derivatives valuation | ( | ) | ( | ) | ||||
Gain (loss) on valuation of financial assets at fair value through other comprehensive income | ||||||||
Exchange differences on translation for foreign operations | ||||||||
Total | ￦ | ￦ | ||||||
| (2) | Changes in accumulated other comprehensive income for the years ended December 31, 2023 and 2024, are as follows: |
(in millions of Korean won) | 2023 | |||||||||||||||
Beginning | Increase/ decrease | Reclassification to gain or loss | Ending | |||||||||||||
Changes in investments in associates and joint ventures | ￦ | ( | ) | ￦ | ￦ | — | ￦ | |||||||||
Gain (loss) on derivatives valuation | ( | ) | ( | ) | ( | ) | ||||||||||
Gain on valuation of financial assets at fair value through other comprehensive income | ( | ) | — | |||||||||||||
Exchange differences on translation for foreign operations | ( | ) | — | |||||||||||||
Total | ￦ | ( | ) | ￦ | ￦ | ( | ) | ￦ | ||||||||
2024 | ||||||||||||||||
(in millions of Korean won) | Beginning | Increase (decrease) | Reclassification to gain or loss | Ending | ||||||||||||
Changes in investments in associates and joint ventures | ￦ | ￦ | ￦ | — | ￦ | |||||||||||
Gain (loss) on derivatives valuation | ( | ) | ( | ) | ( | ) | ||||||||||
Gain (loss) on valuation of financial assets at fair value through other comprehensive income | — | |||||||||||||||
Exchange differences on translation for foreign operations | — | |||||||||||||||
Total | ￦ | ￦ | ￦ | ( | ) | ￦ | ||||||||||
(in millions of Korean won) | December 31, 2023 | December 31, 2024 | ||||||
Treasury stock | ￦ | ( | ) | ( | ) | |||
Gain or loss on disposal of treasury stock 1 | ||||||||
Share-based payments | ||||||||
Equity transactions within consolidated entities 2 | ( | ) | ( | ) | ||||
Total | ￦ | ( | ) | ( | ) | |||
| 1 | The amount directly reflected in equity is ￦ ￦ |
| 2 | Profit or loss incurred from transactions with non-controlling interest and investment difference incurred from changes in ownership of subsidiaries are included. |
| (4) | As of December 31, 2023 and 2024, the details of treasury stock are as follows: |
December 31, 2023 | December 31, 2024 | |||||||
Number of shares (in shares) | ||||||||
Amounts (in millions of Korean won) | ￦ | |||||||
24. | Share-based Payments |
| (1) | Details of share-based payments granted by the Controlling to executives and employees, including the CEO, by the resolution of the Board of Directors for the years ended December 31, 2023 and 2024, are as follows: |
2023 | ||
(in share) | 17th grant | |
Grant date | June 15, 2023, Oct 17, 2023 | |
Grantee | CEO, internal directors, external directors, executives | |
Vesting conditions | Service condition: 1 year Non-market performance condition: achievement of performance | |
Fair value per option (in Korean won) | ￦ | |
Total compensation costs (in Korean won) | ￦ | |
Exercise date | May 29, 2024 | |
Valuation method | Fair value method |
2024 | ||
(in share) | 18th grant | |
Grant date | June 20, 2024 | |
Grantee | CEO, internal directors, external directors, executives | |
Vesting conditions | Service condition: 1 year Non-market performance condition: achievement of performance | |
Fair value per option (in Korean won) | ￦ | |
Total compensation costs (in Korean won) | ￦ | |
Estimated exercise date (exercise date) | During 2025 | |
Valuation method | Fair value method |
| (2) | Changes in the number of stock options and the weighted-average exercise price as at December 31, 2023 and 2024, are as follows: |
(In share) | 2023 | |||||||||||||||||||||||
Beginning | Grant | Expired | Exercised 1 | Ending | Number of shares exercisable | |||||||||||||||||||
16th grant | — | ( | ) | ( | ) | — | ||||||||||||||||||
17th grant | — | — | — | — | ||||||||||||||||||||
Total | ( | ) | ( | ) | — | |||||||||||||||||||
(In share) | 2024 | |||||||||||||||||||||||
Beginning | Granted | Expired | Exercised 1 | Ending | Number of shares exercisable | |||||||||||||||||||
16th grant | — | ( | ) | ( | ) | — | ||||||||||||||||||
17th grant | — | ( | ) | ( | ) | — | — | |||||||||||||||||
18th grant | — | — | — | — | ||||||||||||||||||||
Total | ( | ) | ( | ) | — | |||||||||||||||||||
| 1 | The weighted average price of ordinary shares at the time of exercise of the 16 th and 17th grant, during the year ended December 31, 2024, is ￦ ￦ ￦ |
| (3) | On September 9, 2024, the Group has granted ￦ |
25. | Revenue from Contracts with Customers, Other Income and Relevant Contract Assets and Liabilities |
| (1) | The Group has recognized the following amounts relating to revenue and other income in the statement of profit or loss: |
(in millions of Korean won) | 2022 | 2023 | 2024 | |||||||||
Revenue from contracts with customers | ￦ | ￦ | ￦ | |||||||||
Revenue from other sources | ||||||||||||
Other income (Note 26) | ||||||||||||
Total revenue and other income | ￦ | ￦ | ￦ | |||||||||
| (2) | Operating revenues and other income for the years ended December 31, 2022, 2023 and 2024 are as follows: |
(in millions of Korean won) | 2022 | 2023 | 2024 | |||||||||
Mobile services | ￦ | ￦ | ￦ | |||||||||
Fixed-line services | ||||||||||||
Fixed-line and VoIP telephone services | ||||||||||||
Broadband Internet access services | ||||||||||||
Data communication services | ||||||||||||
Media and content | ||||||||||||
Financial services | ||||||||||||
Sale of goods | ||||||||||||
Others | ||||||||||||
Total | ￦ | ￦ | ￦ | |||||||||
| (3) | Contract assets and liabilities recognized in relation to the revenues from contracts with customers, are as follows: |
(in millions of Korean won) | December 31, 2023 | December 31, 2024 | ||||||
Contract assets 1 | ￦ | ￦ | ||||||
Contract liabilities 1 | | | ||||||
Deferred revenue 2 | ￦ | ￦ | ||||||
| 1 |
The Group recognized contract assets of
￦ ￦ construction contract as of December 31, 2024 (2023: contract assets of ￦ ￦ |
2 |
Deferred revenue recognized relating to government grant is excluded. |
| (4) |
The contract costs recognized as assets are as follows: |
(in millions of Korean won) |
2022 |
2023 |
2024 |
|||||||||
|
Incremental cost of contract establishment |
￦ |
￦ |
￦ |
|||||||||
|
Cost of Contract performance |
||||||||||||
(5) |
For the years ended December 31, 2022, 2023 and 2024, revenue recognized from carried-forward contract liabilities and deferred revenue, is as follows:
|
(in millions of Korean won) |
2022 |
2023 |
2024 |
|||||||||
|
Revenue recognized that was included in the contract liabilities balance at the beginning of the year |
||||||||||||
|
Allocation of the transaction price |
￦ |
￦ |
￦ |
|||||||||
|
Deferred revenue of joining/installment fee |
||||||||||||
|
|
|
|
|
|
|
|||||||
|
Total |
￦ |
￦ |
￦ |
|||||||||
|
|
|
|
|
|
|
|||||||
26. |
Other Income |
(in millions of Korean won) |
2022 |
2023 |
2024 |
|||||||||
|
Gain on disposal of property and equipment and investment properties |
￦ |
￦ |
￦ |
|||||||||
|
Gain on disposal of intangible assets |
||||||||||||
|
Gain on disposal of
right-of-use |
||||||||||||
|
Property and Equipment loss recovery income |
||||||||||||
|
Income from government subsidies |
||||||||||||
|
Gain on disposal of investments in associates |
||||||||||||
|
Gain on disposal of investments in subsidiaries |
||||||||||||
|
Others |
||||||||||||
|
|
|
|
|
|
|
|||||||
|
Total |
￦ |
￦ |
￦ |
|||||||||
|
|
|
|
|
|
|
|||||||
27. |
Operating Expenses |
| (1) |
Operating expenses for the years ended December 31, 2022, 2023 and 2024, are as follows: |
(in millions of Korean won) |
2022 |
2023 |
2024 |
|||||||||
|
Employee benefit cost |
￦ |
￦ |
￦ |
|||||||||
|
Depreciation |
||||||||||||
|
Depreciation of
right-of-use |
||||||||||||
|
Amortization of intangible assets |
||||||||||||
|
Commissions |
||||||||||||
|
Interconnection charges |
||||||||||||
|
International interconnection fee |
||||||||||||
|
Purchase of inventories |
||||||||||||
|
Changes of inventories |
( |
) | ( |
) | ( |
) | ||||||
|
Sales commission |
||||||||||||
|
Service cost 1 |
||||||||||||
|
Utilities |
||||||||||||
|
Taxes and dues |
||||||||||||
|
Rent |
||||||||||||
|
Insurance premium |
||||||||||||
|
Installation fee |
||||||||||||
|
Advertising expenses |
||||||||||||
|
Allowance for bad debts |
||||||||||||
|
Card service cost |
||||||||||||
|
Loss on disposal of property and equipment |
||||||||||||
|
Loss on disposal of intangible assets |
||||||||||||
|
Loss on disposal of
right-of-use |
||||||||||||
|
Loss on disposal of investments in associates
|
||||||||||||
|
Loss on disposal of investments in subsidiaries |
||||||||||||
|
Impairment loss on property and equipment |
||||||||||||
|
Impairment loss on intangible assets |
||||||||||||
|
Donations |
||||||||||||
|
Other allowance for bad debts |
||||||||||||
|
Others |
||||||||||||
|
|
|
|
|
|
|
|||||||
|
Total |
￦ |
￦ |
￦ |
|||||||||
|
|
|
|
|
|
|
|||||||
| 1 |
Service cost is mainly recorded by purchase of service for system implementation and contents service.
|
| (2) |
Details of employee benefit cost for the years ended December 31, 2022, 2023 and 2024, are as follows: |
(in millions of Korean won) |
2022 |
2023 |
2024 |
|||||||||
|
Salaries & Wages |
￦ |
|
￦ |
|
￦ |
|
||||||
|
Post-employment benefits(Defined benefit plan) |
||||||||||||
|
Post-employment benefits(Defined contribution plan) |
||||||||||||
|
Share-based payment |
||||||||||||
|
Others |
||||||||||||
|
|
|
|
|
|
|
|||||||
|
Total |
￦ |
￦ |
￦ |
|||||||||
|
|
|
|
|
|
|
|||||||
| (1) | Details of financial income for the years ended December 31, 2022, 2023 and 2024, are as follows: |
(in millions of Korean won) | 2022 | 2023 | 2024 | |||||||||
Interest income | ￦ | ￦ | ||||||||||
Gain on foreign currency transactions | ||||||||||||
Gain on foreign currency translation | ||||||||||||
Gain on derivative transactions | ||||||||||||
Gain on valuation of derivatives | ||||||||||||
Gain on disposal of trade receivables | — | — | ||||||||||
Gain on valuation of financial instruments | ||||||||||||
Others | ||||||||||||
Total | ￦ | ￦ | ||||||||||
| (2) | Details of financial costs for the years ended December 31, 2022, 2023 and 2024, are as follows: |
(in millions of Korean won) | 2022 | 2023 | 2024 | |||||||||
Interest expenses | ￦ | ￦ | ￦ | |||||||||
Loss on foreign currency transactions | ||||||||||||
Loss on foreign currency translation | ||||||||||||
Loss on derivative transactions | ||||||||||||
Loss on valuation of derivatives | ||||||||||||
Loss on disposal of trade receivables | ||||||||||||
Loss on valuation of financial instruments | ||||||||||||
Others | ||||||||||||
Total | ￦ | ￦ | ￦ | |||||||||
29. | Deferred Income Tax and income Tax Expense |
| (1) | The analysis of deferred tax assets and deferred tax liabilities as at December 31, 2023 and 2024, is as follows: |
(in millions of Korean won) | December 31, 2023 | December 31, 2024 | ||||||
Deferred tax assets | ||||||||
Deferred tax assets to be recovered within 12 months | ￦ | ￦ | ||||||
Deferred tax assets to be recovered after more than 12 months | ||||||||
Deferred tax assets before offsetting | ||||||||
Deferred tax liabilities | ||||||||
Deferred tax liabilities to be recovered within 12 months | ( | ) | ( | ) | ||||
Deferred tax liabilities to be recovered after more than 12 months | ( | ) | ( | ) | ||||
Deferred tax liabilities before offsetting | ( | ) | ( | ) | ||||
Deferred tax assets after offsetting | ￦ | ￦ | ||||||
Deferred tax liabilities after offsetting | ￦ | ￦ | ||||||
| (2) | The movement in deferred income tax assets and liabilities during the year, without taking into consideration the offsetting of balances within the same tax jurisdiction, is as follows: |
(in millions of Korean won) | 2023 | |||||||||||||||
Beginning | Statement of profit or loss | Other comprehensive income | Ending | |||||||||||||
Deferred tax liabilities | ||||||||||||||||
Investments in subsidiaries, associates and joint ventures | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
Depreciation and impairment loss | ( | ) | ( | ) | ||||||||||||
Plan assets | ( | ) | ( | ) | ||||||||||||
Advanced depreciation provision | ( | ) | ( | ) | ||||||||||||
Contract assets | ( | ) | ( | ) | ||||||||||||
Financial assets at fair value through profit or loss | ( | ) | ||||||||||||||
Financial assets at fair value through other comprehensive income | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
Others | ( | ) | ( | ) | ( | ) | ||||||||||
Total | ￦ | ( | ) | ￦ | ￦ | ( | ) | ￦ | ( | ) | ||||||
Deferred tax assets | ||||||||||||||||
Depreciation and impairment loss | ( | ) | ( | ) | ||||||||||||
Contract liabilities | ( | ) | ||||||||||||||
Defined benefit liabilities | ( | ) | ||||||||||||||
Provisions | ( | ) | ||||||||||||||
Others | ( | ) | ||||||||||||||
Total | ￦ | ￦ | ( | ) | ￦ | ￦ | ||||||||||
Temporary difference, net | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
Tax credit carryforwards | ||||||||||||||||
Total net balance | ￦ | ( | ) | ￦ | ￦ | ( | ) | ￦ | ( | ) | ||||||
(in millions of Korean won) | 2024 | |||||||||||||||
Beginning | Statement of profit or loss | Other comprehensive income | Ending | |||||||||||||
Deferred tax liabilities | ||||||||||||||||
Investments in subsidiaries, associates and joint ventures | ( | ) | ( | ) | ( | ) | ||||||||||
Depreciation and impairment loss | ( | ) | ( | ) | ||||||||||||
Plan assets | ( | ) | ( | ) | ||||||||||||
Advanced depreciation provision | ( | ) | ( | ) | ( | ) | ||||||||||
Contract assets | ( | ) | ( | ) | ||||||||||||
Financial assets at fair value through profit or loss | ||||||||||||||||
Financial assets at fair value through other comprehensive income | ( | ) | ( | ) | ( | ) | ||||||||||
Others | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
Total | ￦ | ( | ) | ￦ | ( | ) | ￦ | ( | ) | ￦ | ( | ) | ||||
Deferred tax assets | ||||||||||||||||
Depreciation and impairment loss | ( | ) | ||||||||||||||
Contract liabilities | ( | ) | ||||||||||||||
Defined benefit liabilities | ( | ) | ||||||||||||||
Provisions | ||||||||||||||||
Others | ||||||||||||||||
Total | ￦ | ￦ | ￦ | ￦ | ||||||||||||
Temporary difference, net | ( | ) | ( | ) | ||||||||||||
Tax credit carryforwards | ||||||||||||||||
Total net balance | ￦ | ( | ) | ￦ | ￦ | ￦ | ( | ) | ||||||||
| (3) | The tax impacts recognized directly to equity as of December 31, 2022, 2023, and 2024, are as follows: |
December 31, 2022 | December 31, 2023 | December 31, 2024 | ||||||||||||||||||||||||||||||||||
(in millions of Korean won) | Before recognition | Tax effect | After recognition | Before recognition | Tax effect | After recognition | Before recognition | Tax effect | After recognition | |||||||||||||||||||||||||||
Gain (loss) on valuation of financial assets at fair value through other comprehensive income | ￦ | ( | ) | ￦ | ￦ | ( | ) | ￦ | ￦ | ( | ) | ￦ | ￦ | ￦ | ( | ) | ￦ | |||||||||||||||||||
Gain (loss) on valuation of hedge instruments | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||||||||||||||
Remeasurements of net defined benefit liabilities | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||||||||||||||||
Share of gain (loss) of associates and joint ventures, and others | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||||||||||||||||||
Exchange differences on translation for foreign operations | ( | ) | ( | ) | ( | ) | ||||||||||||||||||||||||||||||
Gain or loss on disposal of treasury stock | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||||||||||||||||
Total | ￦ | ( | ) | ￦ | ￦ | ( | ) | ￦ | ￦ | ( | ) | ￦ | ￦ | ( | ) | ￦ | ￦ | ( | ) | |||||||||||||||||
| (4) | Details of income tax expense for the years ended December 31, 2022, 2023 and 2024, are calculated as follows: |
(in millions of Korean won) | 2022 | 2023 | 2024 | |||||||||
Current income tax expense | ￦ | ￦ | ￦ | |||||||||
Impact of change in deferred taxes | ( | ) | ( | ) | ||||||||
Income tax expense | ￦ | ￦ | ￦ | |||||||||
| (5) | The tax on the Group’s profit before tax differs from the theoretical amount that would arise using the weighted average tax rate applicable to profits of the entities as follows: |
(in millions of Korean won) | 2022 | 2023 | 2024 | |||||||||
Profit before income tax expense | ￦ | ￦ | ￦ | |||||||||
Statutory income tax expense | ￦ | ￦ | ￦ | |||||||||
Tax effect | ||||||||||||
Income not taxable for taxation purposes | ( | ) | ( | ) | ( | ) | ||||||
Non-deductible expenses | ||||||||||||
Tax credit | ( | ) | ( | ) | ( | ) | ||||||
Additional payment of income taxes | ( | ) | ||||||||||
Adjustments in deferred tax from changes in tax rate | ( | ) | ( | ) | ||||||||
Tax effect and adjustment on consolidation | ||||||||||||
Goodwill impairment | ||||||||||||
Changes of out-side tax effect | ( | ) | ||||||||||
Intangible Asset impairment and amortization | ( | ) | ||||||||||
Reversal expenses of contract cost assets | ( | ) | ||||||||||
Acquisition and disposition of businesses | — | — | ||||||||||
Others | ( | ) | ||||||||||
Income tax expense | ￦ | ￦ | ￦ | |||||||||
| (6) | Details of deferred tax assets and liabilities that are not recognized as at December 31, 2023 and 2024, are as follows: |
(in millions of Korean won) | 2023 | 2024 | ||||||
Deductible temporary differences | ||||||||
Investment in subsidiaries, associates, and joint ventures | ￦ | ￦ | ||||||
Unused tax loss | ||||||||
Unused Tax credit | ||||||||
Others | ||||||||
Total | ￦ | ￦ | ||||||
Taxable temporary differences | ||||||||
Investment in subsidiaries, associates, and joint ventures | ￦ | ￦ | ||||||
Others | ||||||||
Total | ￦ | ￦ | ||||||
| (7) | The expected period of expiry for unused tax losses not recognized in deferred tax assets as of December 31, 2023 and 2024, is as follows: |
(in millions of Korean won) | 2023 | 2024 | ||||||
2024 | ￦ | ￦ | ||||||
2025 | ||||||||
2026 | ||||||||
2027 | ||||||||
2028 | ||||||||
2029 | ||||||||
2030 | ||||||||
2031 | ||||||||
2032 | ||||||||
2033 | ||||||||
2034 | ||||||||
A f ter 2035 | ||||||||
Total | ￦ | ￦ | ||||||
30. | Earnings per Share |
| (1) | Basic Earnings per Share |
2022 | 2023 | 2024 | ||||||||||
Profit attributable to ordinary shares of owners of the Controlling Company (in millions of Korean won) | ￦ | ￦ | ￦ | |||||||||
Weighted average number of ordinary shares outstanding (in number of shares) | ||||||||||||
Basic earnings per share (in Korean won) | ￦ | ￦ | ￦ | |||||||||
| (2) | Diluted Earnings per Share |
2022 | 2023 | 2024 | ||||||||||
Profit attributable to ordinary shares of owners of the Controlling Company (in millions of Korean won) | ￦ | ￦ | ￦ | |||||||||
Adjustment to net income attributable to ordinary shares (in millions of Korean won) | ( | ) | ( | ) | ( | ) | ||||||
Diluted profit attributable to ordinary shares (in millions of Korean won) | ||||||||||||
Number of dilutive potential ordinary shares outstanding (in number of shares) | ||||||||||||
Weighted average number of ordinary shares outstanding (in number of shares) | ||||||||||||
Diluted earnings per share (in Korean won) | ￦ | ￦ | ￦ | |||||||||
31. | Dividend |
32. | Cash Generated from Operations |
| (1) | Cash flows from operating activities for the years ended December 31, 2022, 2023 and 2024, are as follows: |
(in millions of Korean won) | 2022 | 2023 | 2024 | |||||||||
1. Profit for the year | ￦ | ￦ | ￦ | |||||||||
2. Adjustments to reconcile net income | ||||||||||||
Income tax expense | ||||||||||||
Interest income 1 | ( | ) | ( | ) | ( | ) | ||||||
Interest expense 1 | ||||||||||||
Dividends income 2 | ( | ) | ( | ) | ( | ) | ||||||
Depreciation | ||||||||||||
Amortization of intangible assets | ||||||||||||
Depreciation of right-of-use | ||||||||||||
Provision for severance benefits (defined benefits) | ||||||||||||
Impairment losses on trade receivables | ||||||||||||
Share of net profit or loss of associates and joint ventures | ( | ) | ||||||||||
Loss(gain) on disposal of associates and joint ventures | ( | ) | ( | ) | ( | ) | ||||||
Loss(gain) on the disposal of subsidiaries | ( | ) | ( | ) | ( | ) | ||||||
Loss(gain) on disposal of right-of-use | ( | ) | ( | ) | ( | ) | ||||||
Impairment loss on property and equipment and investment in properties | ||||||||||||
Loss(gain) on disposal of property and equipment and investment in properties 3 | ( | ) | ||||||||||
Loss on disposal of intangible assets | ||||||||||||
Loss on impairment of intangible assets | ||||||||||||
Loss on foreign currency translation | ||||||||||||
Gain on valuation and settlement of derivatives, net | ( | ) | ( | ) | ( | ) | ||||||
Gain on disposal of financial assets at fair value through profit or loss | ( | ) | ( | ) | ( | ) | ||||||
Loss(Gain) on valuation of financial assets at fair value through profit or loss | ||||||||||||
Loss(gain) on disposal of financial assets at amortized cost 4 | ||||||||||||
Others | ( | ) | ||||||||||
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 | ( | ) | ( | ) | ( | ) | ||||||
Increase in other receivables | ( | ) | ( | ) | ||||||||
Decrease(increase) in other current assets | ( | ) | ||||||||||
Increase in other non-current assets | ( | ) | ( | ) | ( | ) | ||||||
Decrease(increase) in inventories | ( | ) | ( | ) | ( | ) | ||||||
Increase(decrease) in trade payables | ( | ) | ( | ) | ||||||||
Increase in other payables | ( | ) | ||||||||||
Increase(decrease) in other current liabilities | ( | ) | ||||||||||
Decrease in other non-current liabilities | ( | ) | ( | ) | ( | ) | ||||||
Decrease in provisions | ( | ) | ( | ) | ( | ) | ||||||
Increase(decrease) in deferred revenue | ( | ) | ( | ) | ||||||||
Decrease(increase) in plan assets | ( | ) | ||||||||||
Payment of post-employment benefits | ( | ) | ( | ) | ( | ) | ||||||
4. Cash generated from operations (1+2+3) | ￦ | ￦ | ￦ | |||||||||
| 1 | Subsidiaries such as BC Card Co., Ltd. recognize interest income and expense as operating revenue and expense, respectively. Interest income of ￦ ￦ ￦ ￦ ￦ ￦ |
| 2 | BC Card Co., Ltd. Recognized dividend income as operating revenue, including dividend income of ￦ ￦ ￦ |
| 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 ￦ ￦ |
| 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 ￦ ￦ |
| (2) | Significant transactions not affecting cash flows for the years ended December 31, 2022, 2023 and 2024, are as follows: |
(in millions of Korean won) | 2022 | 2023 | 2024 | |||||||||
Reclassification of the current portion of borrowings | ￦ | ￦ | ￦ | |||||||||
Reclassification of construction-in-progress | ||||||||||||
Reclassification of accounts payable from property and equipment | ( | ) | ( | ) | ||||||||
Reclassification of accounts payable from intangible assets | ( | ) | ( | ) | ( | ) | ||||||
Reclassification of payable from defined benefit liabilities | ( | ) | ||||||||||
Reclassification of payable from plan assets | ( | ) | ( | ) | ||||||||
Disposal of treasury stock related to acquisition of financial assets | ||||||||||||
Acquisition of financial assets related to disposal of a subsidiary | ||||||||||||
Increase in financial assets due to stock exchange | ||||||||||||
33. | Changes in Liabilities Arising from Financing Activities |
(in millions of Korean won) | 2022 | |||||||||||||||||||||||||||
Beginning | Cash flows | Non-cash | ||||||||||||||||||||||||||
Newly acquired | Changes in FX rate | Fair Value changes | Others | Ending | ||||||||||||||||||||||||
Borrowing | ￦ | ￦ | ￦ | ￦ | ￦ | ￦ | ￦ | |||||||||||||||||||||
Lease liabilities | ( | ) | ( | |||||||||||||||||||||||||
Derivative liabilities | ( | ) | ( | |||||||||||||||||||||||||
Derivative assets | ( | ) | ( | ) | ( | ( | ( | ) | ||||||||||||||||||||
Total | ￦ | ￦ | ￦ | ￦ | ￦ | ￦ | ( | ) | ￦ | |||||||||||||||||||
2023 | ||||||||||||||||||||||||||||
Beginning | Cash flows | Non-cash | ||||||||||||||||||||||||||
(in millions of Korean won) | Newly acquired | Changes in FX rate | Fair Value changes | Others | Ending | |||||||||||||||||||||||
Borrowing | ￦ | | ￦ | ￦ | ￦ | | ￦ | ￦ | ￦ | |||||||||||||||||||
Lease liabilities | ( | ) | ( | |||||||||||||||||||||||||
Derivative liabilities | ( | |||||||||||||||||||||||||||
Derivative assets | ( | ) | ( | ( | ) | |||||||||||||||||||||||
Total | ￦ | ￦ | ( | ￦ | | ￦ | ￦ | | ￦ | ( | ) | ￦ | ||||||||||||||||
2024 | ||||||||||||||||||||||||||||
Beginning | Cash flows | Non-cash | ||||||||||||||||||||||||||
(in millions of Korean won) | Newly acquired | Changes in FX rate | Fair Value changes | Others | Ending | |||||||||||||||||||||||
Borrowing | ￦ | ￦ | ( | ) | ￦ | ￦ | ￦ | ￦ | ￦ | |||||||||||||||||||
Lease liabilities | ( | ) | ( | |||||||||||||||||||||||||
Derivative liabilities | ( | ) | ( | ( | ||||||||||||||||||||||||
Derivative assets | ( | ) | ( | ( | ( | ) | ||||||||||||||||||||||
Total | ￦ | ￦ | ( | ￦ | | ￦ | ￦ | ( | ￦ | ( | ) | ￦ | ||||||||||||||||
34. | Segment Information |
Details | Business service | |
ICT | Mobile/fixed line telecommunication service and convergence business, B2B business and others | |
Finance | Credit card business | |
Satellite TV Real estate | Satellite TV business Residential building development and supply | |
Others | Cable television service, IT, facility security and global business, and others |
2022 | ||||||||||||
(in millions of Korean won) | Operating revenues | Operating Income | Depreciation and Amortization 1 | |||||||||
ICT | ￦ | ￦ | ￦ | |||||||||
Finance | ||||||||||||
Satellite TV | ||||||||||||
Real estate | ||||||||||||
Others | ||||||||||||
Total | ||||||||||||
Elimination 2 | ( | ) | ( | ) | ( | ) | ||||||
Consolidated amount | ￦ | ￦ | ￦ | |||||||||
2023 | ||||||||||||
(in millions of Korean won) | Operating revenues | Operating Income | Depreciation and Amortization 1 | |||||||||
ICT | ￦ | ￦ | ￦ | |||||||||
Finance | ||||||||||||
Satellite TV | ( | ) | ||||||||||
Real estate | ||||||||||||
Others | ||||||||||||
Total | ||||||||||||
Elimination 2 | ( | ) | ( | ) | ||||||||
Consolidated amount | ￦ | ￦ | ￦ | |||||||||
2024 | ||||||||||||
(in millions of Korean won) | Operating revenues | Operating Income | Depreciation and Amortization 1 | |||||||||
ICT | ￦ | ￦ | ￦ | |||||||||
Finance | ||||||||||||
Satellite TV | ( | ) | ||||||||||
Real estate | ||||||||||||
Others | ||||||||||||
Total | ||||||||||||
Elimination 2 | ( | ) | ( | ) | ||||||||
Consolidated amount | ￦ | ￦ | ￦ | |||||||||
| 1 | Sum of the amortization of tangible assets, intangible assets, investment properties, and right-of-use |
| 2 | Elimination for operating revenues is the difference between operating revenue included in the CODM report, which is based on Korean IFRS and operating revenue based on IFRS. Elimination for depreciation and amortization and operating revenues also included consolidated adjustments due to intercompany transactions with the group. |
(In millions of Korean won) | Operating revenues | Non-current assets1 | ||||||||||||||||||
Location | 2022 | 2023 | 2024 | 2023.12.31 | 2024.12.31 | |||||||||||||||
Domestic | ￦ | ￦ | ￦ | ￦ | ￦ | |||||||||||||||
Overseas | ||||||||||||||||||||
Total | ￦ | ￦ | ￦ | ￦ | ￦ | |||||||||||||||
| 1 | Sum of property and equipment, intangible assets, investment properties and right-of-use |
35. | Related Party Transactions |
Relationship | Name of Entity | |
Associates and joint ventures | There are 49 Associates and joint ventures, and entities listed on the table below has Related Party Transactions | |
Others 1 | Goody Studio Co., Ltd., Rebellion Inc., Digital Pharm Co., Ltd., Mastern No.127 Logispoint Daegu Co., Ltd., KORAMKO No. 143 General Private Real Estate Investment Company | |
| 1 | The investment in preferred shares in these entities are accounted for under IFRS 9. Given the Company’s significant influence in the investees, those are included in the list of related parties. |
December 31, 2023 | ||||||||||||||||||||||||||
Receivables | Payables | |||||||||||||||||||||||||
(in millions of Korean won) | Trade receivables | Other receivables | Lease receivables | Trade payables | Other payables | Lease liabilities | ||||||||||||||||||||
Associates and joint ventures | K Bank, Inc. | ￦ | ￦ | ￦ | ￦ | — | ￦ | ￦ | — | |||||||||||||||||
| Little Big Pictures | — | — | ||||||||||||||||||||||||
K-Realty 11th Real Estate Investment Trust Company | — | — | — | |||||||||||||||||||||||
K-Realty No.3 Real Estate General Private Placement Investment Company | — | — | — | — | — | |||||||||||||||||||||
| Others | — | — | ||||||||||||||||||||||||
Total | ￦ | ￦ | ￦ | ￦ | ￦ | ￦ | ||||||||||||||||||||
December 31, 2024 | ||||||||||||||||||||||||||
Receivables | Payables | |||||||||||||||||||||||||
(in millions of Korean won) | Trade receivables | Other receivables | Lease receivables | Trade payables | Other payables | Lease liabilities | ||||||||||||||||||||
Associates and joint ventures Others | K Bank, Inc. | ￦ | ￦ | ￦ | — | ￦ | — | ￦ | ￦ | — | ||||||||||||||||
| Little Big Pictures | — | — | — | |||||||||||||||||||||||
K-Realty 11th Real Estate Investment Trust Company | — | — | — | |||||||||||||||||||||||
K-Realty No.3 Real Estate General Private Placement Investment Company | — | — | — | — | — | |||||||||||||||||||||
| Others | — | — | ||||||||||||||||||||||||
| Others | ￦ | — | — | — | ||||||||||||||||||||||
Total | ￦ | ￦ | ￦ | — | ￦ | ￦ | ￦ | | ||||||||||||||||||
2022 | ||||||||||
(in millions of Korean won) | Operating Revenue | Purchases 1 | ||||||||
Associates and joint ventures | K- Realty CR-REITs No.12 | ￦ — | ￦ — | |||||||
| K Bank, Inc. | ||||||||||
| Hyundai Robotics Co., Ltd. 1 | ||||||||||
K-Realty 11th Real Estate Investment Trust Company | ||||||||||
| Others 3 | ||||||||||
Others | Digital Pharm Co., Ltd. | — | ||||||||
Total | ||||||||||
2022 | ||||||||||||||||||
(in millions of Korean won) | Acquisition of right-of-use assets | Interest income | Interest expense | Dividend income | ||||||||||||||
Associates and joint ventures | K- Realty CR-REITs No.12 | ￦ | — | ￦ | — | ￦ | — | ￦ | ||||||||||
| K Bank, Inc. | — | — | — | |||||||||||||||
| Hyundai Robotics Co., Ltd. 1 | — | — | — | — | ||||||||||||||
K-Realty 11th Real Estate Investment Trust Company | — | |||||||||||||||||
| Others 3 | — | — | — | |||||||||||||||
Total | ￦ | ￦ | ￦ | ￦ | ||||||||||||||
| 1 | The amounts includes the acquisition of property and equipment, and others. |
2 | Includes transactions of the entity before it was excluded as an associate and joint venture of the Group. |
3 | Includes transactions of StorySoop Inc. before it was excluded as associates and joint ventures of the Group. |
2023 | ||||||||||
(in millions of Korean won) | Operating Revenue | Purchases 1 | ||||||||
Associates and joint ventures | K Bank, Inc. | ￦ | ￦ | |||||||
HD Hyundai Robotics Co., Ltd. (formerly Hyundai Robotics Co., Ltd.) | ||||||||||
K-Realty 11th Real Estate Investment Trust Company | ||||||||||
K-Realty No.3 Real Estate General Private Placement Investment Company | — | |||||||||
| Others 2,3 | ||||||||||
Others | Digital Pharm Co., Ltd. | — | ||||||||
Total | ||||||||||
2023 | ||||||||||||||||||
(in millions of Korean won) | Acquisition of right-of-use assets | Interest income | Interest expense | Dividend income | ||||||||||||||
Associates and joint ventures | K Bank, Inc. | ￦ | — | W | ￦ | — | ￦ | — | ||||||||||
HD Hyundai Robotics Co., Ltd. (formerly Hyundai Robotics Co., Ltd.) | — | — | — | |||||||||||||||
K-Realty 11th Real Estate Investment Trust Company | — | |||||||||||||||||
| Others 2,3 | — | — | — | |||||||||||||||
Total | ￦ | ￦ | ￦ | ￦ | ||||||||||||||
1 | The amounts includes the acquisition of property and equipment, and others. |
2 | Includes transactions of KD Living Co., Ltd. before it was included as a subsidiary. |
3 | Includes transactions of FUNDA Co., Ltd, Maruee Limited Company Specializing in the Cultural Industry, Mastern No.127 Logispoint Daegu Co., Ltd. before it was excluded as associates and joint ventures of the Group. |
2024 | ||||||||||
(in millions of Korean won) | Operating Revenue | Purchases 1 | ||||||||
Associates and joint ventures | K Bank, Inc. | ￦ | ￦ | |||||||
HD Hyundai Robotics Co., Ltd. (formerly Hyundai Robotics Co., Ltd.) | — | |||||||||
K-Realty 11th Real Estate Investment Trust Company | ||||||||||
K-Realty No.3 Real Estate General Private Placement Investment Company | — | |||||||||
| Others 2 | ||||||||||
Others | Others. | |||||||||
Total | ||||||||||
2024 | ||||||||||||||||||
(in millions of Korean won) | Acquisition of right-of-use assets | Interest income | Interest expense | Dividend income | ||||||||||||||
Associates and joint ventures | K Bank, Inc. | ￦ | — | ￦ | ￦ | — | ￦ | — | ||||||||||
HD Hyundai Robotics Co., Ltd. (formerly Hyundai Robotics Co., Ltd.) | — | — | — | — | ||||||||||||||
K-Realty 11th Real Estate Investment Trust Company | — | |||||||||||||||||
| Others 2 | — | — | — | |||||||||||||||
Total | ￦ | ￦ | ￦ | ￦ | ||||||||||||||
1 | The amounts includes the acquisition of property and equipment, and others. |
2 | Transactions with LS Marine Solution Co., Ltd., QTT Global (Group) Company Limited and OASISALPHA Corporation are included up to the date on which the related party relationships were terminated. |
(in millions of Korean won) | 2022 | 2023 | 2024 | |||||||||
Salaries and other short-term benefits | ￦ | ￦ | ￦ | |||||||||
Post-employment benefits | ||||||||||||
Share-based compensation | ||||||||||||
Total | ￦ | ￦ | ￦ | |||||||||
2022 | ||||||||||||
(in millions of Korean won) | Borrowing transactions 1 | Equity contributions in cash | ||||||||||
Associates and joint ventures | Borrowings | Repayments | ||||||||||
Megazone Cloud Corporation | ￦ | ￦ | — | ￦ | ||||||||
IBK-KT Emerging Digital Industry Investment Fund | — | — | ||||||||||
Mastern KT Multi-Family Real Estate Private Equity Investment Fund I | — | — | ||||||||||
IGIS No. 468-1 General Private Real Estate Investment Company | — | — | ||||||||||
K-Realty 11th Real Estate Investment Trust Company | — | |||||||||||
Others | — | — | ||||||||||
Total | ￦ | ￦ | ￦ | |||||||||
| 1 | Lease transactions are included in borrowing transactions. |
2023 | ||||||||||||
(in millions of Korean won) | Borrowing transactions 1 | Equity contributions in cash | ||||||||||
Associates and joint ventures | Borrowings | Repayments | ||||||||||
K-Realty 11th Real Estate Investment Trust Company | ￦ | — | ￦ | ￦ | — | |||||||
STIC Place General Private Placement Real Estate Investment Trust No.2 | — | — | ||||||||||
Telco Credit Bureau Co., | — | — | ||||||||||
Pacific geumto no.75 private hybrid asset fund | — | — | ||||||||||
Kiamco Data Center Blind Fund | — | — | ||||||||||
STIC Mixed Asset Investment Trust No. 1 | — | — | ||||||||||
Others 2 | — | — | ||||||||||
Others | ||||||||||||
Rebellions Co., | — | — | ||||||||||
Total | ￦ | — | ￦ | ￦ | ||||||||
| 1 | Lease transactions are included in borrowing transactions. |
| 2 | Includes transaction details before Daemuga Limited Company Specializing in the Cultural Industry, Maruee Limited Company Specializing in the Cultural Industry were excluded from the associates company. |
2024 | ||||||||||||
(in millions of Korean won) | Borrowing transactions 1 | Equity contributions in cash | ||||||||||
Associates and joint ventures | Borrowings | Repayments | ||||||||||
IBK-KT Young Entrepreneurs MARS Investment Fund | ￦ | — | ￦ | — | ￦ | |||||||
K-Realty 11th Real Estate Investment Trust Company | — | — | ||||||||||
TeamFresh Corp. 2 | — | — | ||||||||||
Others | — | — | ||||||||||
Others | ||||||||||||
Rebellions Co., | — | — | ||||||||||
Total | ￦ | — | ￦ | ￦ | ||||||||
| 1 | Borrowing transactions include lease transactions. |
| 2 | The transaction involved acquiring redeemable convertible preference shares of TeamFresh Corp. and occurred in the process of exchange with the shares of Lolab Co., Ltd. that were held. |
36. | Financial Risk Management |
(in millions of Korean won) | Fluctuation of foreign exchange rate | Impact on profit before income tax 1 | Impact on equity | |||||||||
2022.12.31 | % | ￦ | ( | ) | ￦ | ( | ) | |||||
| - | % | |||||||||||
2023.12.31 | % | ￦ | ( | ) | ￦ | ( | ) | |||||
| - | % | |||||||||||
2024.12.31 | % | ￦ | ( | ) | ￦ | ( | ) | |||||
| - | % | |||||||||||
| 1 | Computed with considering derivatives hedging effect applied by the Group to hedge foreign exchange risk of liabilities in foreign currencies. |
(In thousands of foreign currencies) | 2022 | 2023 | 2024 | |||||||||||||||||||||
Financial assets | Financial liabilities | Financial assets | Financial liabilities | Financial assets | Financial liabilities | |||||||||||||||||||
USD | ||||||||||||||||||||||||
SDR 1 | ||||||||||||||||||||||||
JPY | ||||||||||||||||||||||||
GBP | — | — | — | — | ||||||||||||||||||||
EUR | ||||||||||||||||||||||||
RWF 2 | — | — | — | |||||||||||||||||||||
THB 3 | — | — | — | |||||||||||||||||||||
TZS 4 | — | — | — | |||||||||||||||||||||
BWP 5 | — | — | — | |||||||||||||||||||||
HKD 6 | — | — | — | — | — | |||||||||||||||||||
VND 7 | — | — | — | |||||||||||||||||||||
SGD 8 | — | |||||||||||||||||||||||
TWD 9 | — | — | — | — | — | |||||||||||||||||||
CHF 10 | — | — | — | — | ||||||||||||||||||||
MYR 11 | — | — | — | — | — | |||||||||||||||||||
BGN 12 | — | — | — | — | — | |||||||||||||||||||
PKR 13 | — | — | — | — | ||||||||||||||||||||
| 1 | Special Drawing Rights. |
| 2 | Rwanda Franc. |
| 3 | Thailand Bhat. |
| 4 | Tanzanian Shilling. |
| 5 | Botswana Pula. |
| 6 | Hong Kong Dollar. |
| 7 | Vietnam Dong. |
| 8 | Singapore Dollar. |
| 9 | Taiwan Dollar. |
| 10 | Swiss Franc. |
| 11 | Ringgit Malaysia. |
| 12 | Bulgarian Lev. |
| 13 | Pakistani rupee |
(in millions of Korean won) | Fluctuation of price | Impact on profit before income tax | Impact on equity | |||||||
2022.12.31 | ￦ | ￦ | ||||||||
| - | ( | ) | ( | ) | ||||||
2023.12.31 | ￦ | ￦ | ||||||||
| - | ( | ) | ( | ) | ||||||
2024.12.31 | ￦ | ￦ | ||||||||
| - | ( | ) | ( | ) | ||||||
(in millions of Korean won) | Fluctuation of interest rate | Impact on profit before income tax | Impact on equity | |||||||||
2022.12.31 | + | ￦ | ￦ | ( | ) | |||||||
| - | ( | ) | ||||||||||
2023.12.31 | + | ￦ | ( | ) | ￦ | ( | ) | |||||
| - | ||||||||||||
2024.12.31 | + | ￦ | ( | ) | ￦ | ( | ) | |||||
| - | ||||||||||||
| - | Risk management |
| - | Security |
| - | Impairment of financial assets |
| • | trade receivables for sales of goods and provision of services, |
| • | contract assets relating to provision of services, |
| • | debt investments carried at fair value through other comprehensive income, and |
| • | other financial assets carried at amortized cost. |
(in millions of Korean won) | December 31, 2023 | December 31, 2024 | ||||||
Cash and cash equivalents (except for cash on hand) | ￦ | ￦ | ||||||
Trade and other receivables | ||||||||
Financial assets at amortized costs | ||||||||
Financial assets at fair value through other comprehensive income | ||||||||
Contract assets | ||||||||
Other financial assets | ||||||||
Derivatives financial assets for hedging | ||||||||
Financial assets at fair value through profit or loss | ||||||||
Financial assets at fair value through other comprehensive income | ||||||||
Financial assets at amortized costs | ||||||||
Total | ￦ | ￦ | ||||||
December 31, 2023 | ||||||||||||||||
(in millions of Korean won) | Less than 6 months | 7-12 months | More than 1 years | Total | ||||||||||||
Expected credit loss rate | % | % | % | |||||||||||||
Total carrying amounts | ￦ | ￦ | ￦ | ￦ | ||||||||||||
Provision for impairment | ￦ | ( | ) | ￦ | ( | ) | ￦ | ( | ) | ￦ | ( | ) | ||||
December 31, 2024 | ||||||||||||||||
(in millions of Korean won) | Less than 6 months | 7-12 months | More than 1 years | Total | ||||||||||||
Expected credit loss rate | % | % | % | |||||||||||||
Total carrying amounts | ￦ | ￦ | ￦ | ￦ | ||||||||||||
Provision for impairment | ￦ | ( | ) | ￦ | ( | ) | ￦ | ( | ) | ￦ | ( | ) | ||||
(in millions of Korean won) | 2023 | 2024 | ||||||
Beginning balance | ￦ | ￦ | ||||||
Provision | ||||||||
Written-off | ( | ) | ( | ) | ||||
Others | ( | ) | ||||||
Ending balance | ￦ | ￦ | ||||||
(in millions of Korean won) | 2023 | 2024 | ||||||
Impairment loss Bad debt expenses | ￦ | ￦ | ||||||
(in millions of Korean won) | 2023 | 2024 | ||||||
Beginning balance | ￦ | ￦ | ||||||
Provision | ||||||||
Written-off | ( | ) | ( | ) | ||||
Reversal | ( | ) | ( | ) | ||||
Others | ||||||||
Ending balance | ￦ | ￦ | ||||||
December 31, 2023 | ||||||||||||||||
(in millions of Korean won) | Less than 1 year | 1-5 years | More than 5 years | Total | ||||||||||||
Trade and other payables | ￦ | ￦ | ￦ | ￦ | ||||||||||||
Borrowings (including debentures) | ||||||||||||||||
Lease liabilities | ||||||||||||||||
Other non-derivative financialliabilities | ||||||||||||||||
Financial guarantee contracts 1 | ||||||||||||||||
Total | ￦ | ￦ | ￦ | ￦ | ||||||||||||
| 1 | Total amount guaranteed by the Group according to guarantee contracts. Cash flow from financial guarantee contracts is classified as the maturity group in the earliest period when the financial guarantee contracts can be executed. |
(in millions of Korean won) | December 31, 2024 | |||||||||||||||
Less than 1 year | 1-5 years | More than 5 years | Total | |||||||||||||
Trade and other payables | ￦ | ￦ | ￦ | ￦ | ||||||||||||
Borrowings (including debentures) | ||||||||||||||||
Lease liabilities | ||||||||||||||||
Other non-derivative financial liabilities | ||||||||||||||||
Financial guarantee contracts 1 | ||||||||||||||||
Total | ￦ | ￦ | ￦ | ￦ | ||||||||||||
| 1 | Total amount guaranteed by the Group according to guarantee contracts. Cash flow from financial guarantee contracts is classified as the maturity group in the earliest period when the financial guarantee contracts can be executed |
December 31, 2022 | ||||||||||||||||
(in millions of Korean won) | Less than 1 year | 1-5 years | More than 5 years | Total | ||||||||||||
Derivatives held for trading 1 | ||||||||||||||||
Outflows | ￦ | ￦ | ￦ | ￦ | ||||||||||||
Derivatives settled gross 2 | ||||||||||||||||
Outflows | ￦ | ￦ | ￦ | ￦ | ||||||||||||
Inflows | ||||||||||||||||
December 31, 2023 | ||||||||||||||||
(in millions of Korean won) | Less than 1 year | 1-5 years | More than 5 years | Total | ||||||||||||
Derivatives held for trading 1 | ||||||||||||||||
Outflows | ￦ | ￦ | ￦ | ￦ | ||||||||||||
Inflows | — | — | ||||||||||||||
Derivatives settled gross 2 | ||||||||||||||||
Outflows | ￦ | ￦ | ￦ | ￦ | ||||||||||||
Inflows | ||||||||||||||||
December 31, 2024 | ||||||||||||||||
(in millions of Korean won) | Less than 1 year | 1-5 years | More than 5 years | Total | ||||||||||||
Derivatives held for trading 1 | ||||||||||||||||
Outflows | ￦ | ￦ | ￦ | ￦ | ||||||||||||
Derivatives settled gross 2 | ||||||||||||||||
Outflows | ￦ | ￦ | ￦ | ￦ | ||||||||||||
Inflows | ||||||||||||||||
| 1 | During the year ended December 31, 2024, derivative liabilities held-for-trading are shareholder-to-share |
| 2 | Cash outflow and inflow of gross-settled derivatives are undiscounted contractual cash flow and may differ from the amount in the consolidated statement of financial position. |
(in millions of Korean won) | December 31, 2023 | December 31, 2024 | ||||||
Total liabilities | ￦ | ￦ | ||||||
Total equity | ||||||||
Debt-to-equity | % | % | ||||||
(in millions of Korean won, %) | December 31, 2023 | December 31, 2024 | ||||||
Total borrowings | ￦ | ￦ | ||||||
Less: cash and cash equivalents | ( | ) | ( | ) | ||||
Net debt | ||||||||
Total equity | ||||||||
Total capital | ||||||||
Gearing ratio | % | % | ||||||
| 1) | Details of the Group’s recognized financial assets subject to enforceable master netting arrangements or similar agreements are as follows: |
(in millions of Korean won) | December 31, 2023 | |||||||||||||||||||||||
Gross assets | Gross liabilities offset | Net amounts presented in the statement of financial position | Amounts not offset | Net amount | ||||||||||||||||||||
Financial instruments | Cash collateral | |||||||||||||||||||||||
Trade receivables | ￦ | ￦ | ( | ) | ￦ | ￦ | ( | ) | ￦ | — | ￦ | |||||||||||||
Other financial assets | ( | ) | ( | ) | — | — | ||||||||||||||||||
Total | ￦ | ￦ | ( | ) | ￦ | ￦ | ( | ) | ￦ | — | ￦ | |||||||||||||
(in millions of Korean won) | December 31, 2024 | |||||||||||||||||||||||
Gross assets | Gross liabilities offset | Net amounts presented in the statement of financial position | Amounts not offset | Net amount | ||||||||||||||||||||
Financial instruments | Cash collateral | |||||||||||||||||||||||
Trade receivables | ￦ | ￦ | ( | ) | ￦ | ￦ | ( | ) | ￦ | — | ￦ | |||||||||||||
Other financial assets | ( | ) | ( | ) | — | — | ||||||||||||||||||
Total | ￦ | ￦ | ( | ) | ￦ | ￦ | ( | ) | ￦ | — | ￦ | |||||||||||||
| 2) | Details of the Group’s financial liabilities recognized, subject to enforceable master netting arrangements or similar agreements, as of December 31, 2023 and 2024, are as follows |
(in millions of Korean won) | December 31, 2023 | |||||||||||||||||||||||
Gross liabilities | Gross assets offset | Net amounts presented in the statement of financial position | Amounts not offset | Net amount | ||||||||||||||||||||
Financial instruments | Cash collateral | |||||||||||||||||||||||
Trade payables | ￦ | ￦ | ( | ) | ￦ | ￦ | ( | ) | ￦ | — | ￦ | |||||||||||||
Other financial assets | ( | ) | ( | ) | — | — | ||||||||||||||||||
Total | ￦ | ￦ | ( | ) | ￦ | ￦ | ( | ) | ￦ | — | ￦ | |||||||||||||
(in millions of Korean won) | December 31, 2024 | |||||||||||||||||||||||
Gross liabilities | Gross assets offset | Net amounts presented in the statement of financial position | Amounts not offset | Net amount | ||||||||||||||||||||
Financial instruments | Cash collateral | |||||||||||||||||||||||
Trade payables | ￦ | ￦ | ( | ) | ￦ | ￦ | ( | ) | ￦ | — | ￦ | |||||||||||||
Other financial assets | ( | ) | ( | ) | — | — | ||||||||||||||||||
Total | ￦ | ￦ | ( | ) | ￦ | ￦ | ( | ) | ￦ | — | ￦ | |||||||||||||
37. | Fair Value |
(in millions of Korean won) | December 31, 2023 | December 31, 2024 | ||||||||||||||
Carrying amount | Fair value | Carrying amount | Fair value | |||||||||||||
Financial assets | ||||||||||||||||
Cash and cash equivalents | ￦ | 1 | ￦ | 1 | ||||||||||||
Trade and other receivables | ||||||||||||||||
Financial assets measured at amortized cost 2 | 1 | 1 | ||||||||||||||
Financial assets at fair value through other comprehensive income | ||||||||||||||||
Other financial assets | ||||||||||||||||
Financial assets measured at amortized cost | 1 | 1 | ||||||||||||||
Financial assets at fair value through profit or loss | ||||||||||||||||
Financial assets at fair value through other comprehensive income | ||||||||||||||||
Derivative financial assets for hedging | ||||||||||||||||
Total | ￦ | ￦ | ||||||||||||||
Financial liabilities | ||||||||||||||||
Trade and other payables | ￦ | 1 | ￦ | 1 | ||||||||||||
Borrowings | ||||||||||||||||
Other financial liabilities | ||||||||||||||||
Financial liabilities at amortized cost | 1 | 1 | ||||||||||||||
Financial liabilities at fair value through profit or loss | ||||||||||||||||
Derivative financial liabilities for hedging purpose | ||||||||||||||||
Total | ￦ | ￦ | ||||||||||||||
| 1 | The Group did not conduct fair value estimation since the book amount is a reasonable approximation of the fair value. |
| 2 | Lease receivables are excluded from fair value disclosure in accordance with IFRS 7 . |
(2) | Fair Value Hierarchy |
| • | Level 1: The fair value of financial instruments traded in active markets is based on quoted market prices at the end of the reporting period. The quoted market price used for financial assets held by the Group is the current bid price. These instruments are included in level 1. |
| • | Level 2: The fair value of financial instruments that are not traded in active markets is determined using valuation techniques which maximize the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2. |
| • | Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. |
(in millions of Korean won) | December 31, 2023 | |||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets | ||||||||||||||||
Trade and other receivables | ||||||||||||||||
Financial assets at fair value through other comprehensive income | ￦ | ￦ | ￦ | ￦ | ||||||||||||
Other financial assets | ||||||||||||||||
Financial assets at fair value through profit or loss | ||||||||||||||||
Financial assets at fair value through other comprehensive income | ||||||||||||||||
Derivative financial assets for hedging | — | |||||||||||||||
Investment properties | — | — | ||||||||||||||
Total | ￦ | ￦ | ￦ | ￦ | ||||||||||||
Liabilities | ||||||||||||||||
Borrowings | ￦ | — | ￦ | ￦ | — | ￦ | ||||||||||
Other financial liabilities | ||||||||||||||||
Financial liabilities at fair value through profit or loss | — | |||||||||||||||
Derivative financial liabilities for hedging purpose | — | — | ||||||||||||||
Total | ￦ | — | ￦ | ￦ | ￦ | |||||||||||
(in millions of Korean won) | December 31, 2024 | |||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets | ||||||||||||||||
Trade and other receivables | ||||||||||||||||
Financial assets at fair value through other comprehensive income | ￦ | ￦ | ￦ | ￦ | ||||||||||||
Other financial assets | ||||||||||||||||
Financial assets at fair value through profit or loss | ||||||||||||||||
Financial assets at fair value through other comprehensive income | ||||||||||||||||
Derivative financial assets for hedging | — | |||||||||||||||
Investment properties | — | — | ||||||||||||||
Total | ￦ | ￦ | ￦ | ￦ | ||||||||||||
Liabilities | ||||||||||||||||
Borrowings | ￦ | — | ￦ | ￦ | — | ￦ | ||||||||||
Other financial liabilities | ||||||||||||||||
Financial liabilities at fair value through profit or loss | — | |||||||||||||||
Derivative financial liabilities for hedging purpose | — | — | ||||||||||||||
Total | ￦ | — | ￦ | ￦ | ￦ | |||||||||||
(3) | Transfers Between Fair Value Hierarchy Levels of Recurring Fair Value Measurements |
| 1) | Details of transfers between Level 1 and Level 2 of the fair value hierarchy for recurring fair value measurements |
| 2) | Details of changes in Level 3 of the fair value hierarchy for recurring fair value measurements. |
2023 | ||||||||||||||||
Financial assets | Financial liabilities | |||||||||||||||
(in millions of Korean won) | Financial assets at fair value through profit or loss | Financial assets at fair value through other comprehensive income | Derivative financial assets for hedging | Financial liabilities at fair value through profit or loss | ||||||||||||
Beginning balance | ￦ | ￦ | ￦ | ￦ | ||||||||||||
Acquisition | — | |||||||||||||||
Reclassification | ( | ) | ( | ( | ) | |||||||||||
Acquisition and disposition of businesses | — | — | ||||||||||||||
Disposal | ( | ) | ( | ) | ( | ) | ||||||||||
Amount recognized in profit or loss 1 | ( | ) | ( | ) | ||||||||||||
Amount recognized in other comprehensive income 2 | — | ( | ) | — | ||||||||||||
Ending balance | ￦ | ￦ | ￦ | ￦ | ||||||||||||
| 1 | The recognition of gains and losses on derivatives financial liabilities (assets) for hedging purposes consists entirely of derivatives valuation losses. |
| 2 | The recognition of gains and losses on financial liabilities measured at fair value through profit or loss consists of derivative valuation losses. |
2024 | ||||||||||||||||
Financial assets | Financial liabilities | |||||||||||||||
Financial assets at fair value through profit or loss | Financial assets at fair value through other comprehensive income | Derivative financial assets for hedging | Financial liabilities at fair value through profit or loss | |||||||||||||
Beginning balance | ￦ | ￦ | ￦ | ￦ | ||||||||||||
Acquisition | — | |||||||||||||||
Reclassification | ( | ) | ( | ) | ||||||||||||
Disposal | ( | ) | ||||||||||||||
Amount recognized in profit or loss 1, | ( | ) | ||||||||||||||
Amount recognized in other comprehensive income 2 | — | ( | ) | — | ||||||||||||
Ending balance | ￦ | ￦ | ￦ | ￦ | ||||||||||||
| 1 | The recognition of gains and losses on financial liabilities measured at fair value through profit or loss consists of derivative valuation gains and losses. |
| 2 | The recognition of gains and losses on financial liabilities measured at fair value through profit or loss consists of derivative valuation losses. |
(4) | Valuation Technique and the Inputs |
December 31, 2023 | ||||||||||||
(in millions of Korean won) | Fair value | Level | Valuation techniques | Inputs | ||||||||
Assets | ||||||||||||
Trade and other receivables | ||||||||||||
Financial assets at fair value through other comprehensive income | ￦ | 2 | ||||||||||
Other financial assets | ||||||||||||
Financial assets at fair value through profit or loss | 2,3 | DCF Model, Adjusted Net Asset Model, Monte-Carlo Simulation | Market Interest rate, Underlying asset price | |||||||||
Financial assets at fair value through other comprehensive income | 2,3 | |||||||||||
Derivative financial assets for hedging | 2 | Market observation discount rate, Swap interest rate | ||||||||||
Investment properties | 3 | |||||||||||
Liabilities | ||||||||||||
Borrowings | ￦ | 2 | ||||||||||
Other financial liabilities | ||||||||||||
Financial liabilities at fair value through profit or loss | 2,3 | Forward exchange rate Forward interest rate | ||||||||||
Derivative financial liabilities for hedging | 2 | discount rate | ||||||||||
(in millions of Korean won) | December 31, 2024 | |||||||||||
Fair value | Level | Valuation techniques | Inputs | |||||||||
Assets | ||||||||||||
Trade and other receivables | ||||||||||||
Financial assets at fair value through other comprehensive income | ￦ | 2 | ||||||||||
Other financial assets | ||||||||||||
Financial assets at fair value through profit or loss | 2,3 | DCF Model, Adjusted Net Asset Model, Market Approach Model T-F Model | ||||||||||
Financial assets at fair value through other comprehensive income | 2,3 | DCF Model, Market Approach Model | ||||||||||
Derivative financial assets for hedging | 2 | |||||||||||
Investment properties | 3 | |||||||||||
Liabilities | ||||||||||||
Borrowings | ￦ | 2 | ||||||||||
Other financial liabilities | ||||||||||||
Financial liabilities at fair value through profit or loss | 3 | |||||||||||
Derivative financial liabilities for hedging | 2 | discount rate | ||||||||||
(5) | Valuation Processes for Fair Value Measurements Categorized Within Level 3 |
38. | Interests in Unconsolidated Structured Entities |
| (1) | Details of information about its interests in unconsolidated structured entities, which the Group does not have control over, including the nature, purpose and activities of the structured entity and how the structured entity is financed, are as follows: |
Classes of entities | Nature, purpose, activities and others | |
Real estate finance | A structured entity incorporated for the purpose of real estate development is provided with funds by investors’ investments in equity and borrowings from financial institutions (including long-term and short-term loans and issuance of ABCP due in three months), and based on these, the structured entity implements activities such as real estate acquisition, development and mortgage loans. The structured entity repays loan principals with funds incurred from installment house sales after the completion of real estate development or with collection of the principal of mortgage loan. The remaining shares are distributed to investors. As of December 31, 2024, this entity is engaged in real estate finance structured entity, and generates revenues by receiving dividends from direct investments in or receiving interests on loans to the structured entity. Financial institutions, including the Entity, are provided with guarantees including joint guarantees or real estate collateral from investors and others. Consequently, the entity is a priority over other parties in the preservation of claim. However, when the credit rating of investors and others decreases or when the value of real estate decreases, the entity may be obliged to cover losses. | |
PEF and investment funds | Minority investors including managing members contribute to PEF and investment funds incorporated for the purpose of providing funds to the small, medium, or venture entities, and the managing member implements activities such as investments in equity or loans based on the contributions. As of December 31, 2024, the entity is engaged in PEF and investment funds structured entity, and after contributing to PEF and investment funds, the entity receives dividends for operating revenues from these contributions. The entity is provided with underlying assets of PEF and investment funds as collateral. However, when the value of the underlying assets decreases, the entity may be obliged to cover losses. | |
Asset securitization | The Group transfers accounts receivable for handset sales to its Special Purpose Company (“SPC”) for asset securitization. SPC issues the asset-backed securities with accounts receivable for handset sales as an underlying asset and makes payment for the underlying asset acquired. | |
| (2) | Details of scale of unconsolidated structured entities and nature of the risks associated with an entity’s interests in unconsolidated structured entities as of December 31, 2023 and 2024, are as follows: |
(in millions of Korean won) | December 31, 2023 | |||||||||||
Real Estate Finance | PEF and Investment Funds | Total | ||||||||||
Maximum loss exposure 1 | ||||||||||||
Investment assets | ￦ | ￦ | ￦ | |||||||||
Investment agreement and others 2 | ||||||||||||
Total | ￦ | ￦ | ￦ | |||||||||
| 1 | Includes the investments recognized in the Group’s financial statements and the amounts which are probable to be determined when certain conditions are met. |
| 2 | Investment agreements and others include purchase agreements, credit granting and others. |
(in millions of Korean won) | December 31, 2024 | |||||||||||
Real Estate Finance | PEF and Investment Funds | Total | ||||||||||
Maximum loss exposure 1 | ||||||||||||
Investment assets | ￦ | ￦ | ￦ | |||||||||
Investment agreement and others 2 | ||||||||||||
Total | ￦ | ￦ | ￦ | |||||||||
| 1 | Includes the investments recognized in the Group’s financial statements and the amounts which are probable to be determined when certain conditions are met. |
| 2 | Investment agreements and others include purchase agreements, credit granting and others. |
39. | Information About Non-controlling Interests |
(1) | Changes in Accumulated Non-controlling Interests |
(In millions of Korean won) | December 31, 2022 | |||||||||||||||||||||||
Non- controlling Interests rate (%) | Accumulated non-controlling interests at the beginning of the year | Profit or loss allocated to non- controlling interests | Dividends paid to non- controlling interests | Others | Accumulated non-controlling interests at the end of the year | |||||||||||||||||||
KT Skylife Co., Ltd. | % | ￦ | ￦ | ￦ | ( | ) | ￦ | ￦ | ||||||||||||||||
BC Card Co., Ltd. | % | ( | ) | ( | ) | |||||||||||||||||||
KTIS Corporation | % | ( | ) | ( | ) | |||||||||||||||||||
KTCS Corporation | % | ( | ) | ( | ) | |||||||||||||||||||
Nasmedia Co., | % | ( | ) | ( | ) | |||||||||||||||||||
(In millions of Korean won) | December 31, 2023 | |||||||||||||||||||||||
Non- controlling Interests rate (%) | Accumulated non-controlling interests at the beginning of the year | Profit or loss allocated to non- controlling interests | Dividends paid to non- controlling interests | Others | Accumulated non-controlling interests at the end of the year | |||||||||||||||||||
KT Skylife Co., Ltd. | % | ￦ | ￦ | ( | ) | ￦ | ( | ) | ￦ | ( | ) | ￦ | ||||||||||||
BC Card Co., Ltd. | % | ( | ) | |||||||||||||||||||||
KTIS Corporation | % | ( | ) | ( | ) | |||||||||||||||||||
KTCS Corporation | % | ( | ) | ( | ) | |||||||||||||||||||
Nasmedia Co., Ltd. | % | ( | ) | ( | ) | |||||||||||||||||||
(In millions of Korean won) | December 31, 2024 | |||||||||||||||||||||||
Non- controlling Interests rate (%) | Accumulated non-controlling interests at the beginning of the year | Profit or loss allocated to non-controlling interests | Dividends paid to non- controlling interests | Others | Accumulated non-controlling interests at the end of the year | |||||||||||||||||||
KT Skylife Co., Ltd. | % | ￦ | ￦ | ( | ) | ￦ | ( | ) | ￦ | ￦ | ||||||||||||||
BC Card Co., Ltd. | % | ( | ) | |||||||||||||||||||||
KTIS Corporation | % | ( | ) | ( | ) | |||||||||||||||||||
KTCS Corporation | % | ( | ) | ( | ) | |||||||||||||||||||
Nasmedia Co., Ltd . | % | ( | ) | ( | ) | |||||||||||||||||||
December 31, 2023 | ||||||||||||||||||||
(in millions of Korean won) | KT Skylife Co., Ltd. | BC Card Co., Ltd. | KTIS Corporation | KTCS Corporation | Nasmedia Co., Ltd. | |||||||||||||||
Current assets | ￦ | ￦ | ￦ | ￦ | ￦ | |||||||||||||||
Non-current assets | ||||||||||||||||||||
Current liabilities | ||||||||||||||||||||
Non-current liabilities | ||||||||||||||||||||
Equity | ||||||||||||||||||||
December 31, 2024 | ||||||||||||||||||||
(in millions of Korean won) | KT Skylife Co., Ltd. | BC Card Co., Ltd. | KTIS Corporation | KTCS Corporation | Nasmedia Co., Ltd. | |||||||||||||||
Current assets | ￦ | ￦ | ￦ | ￦ | ￦ | |||||||||||||||
Non-current assets | ||||||||||||||||||||
Current liabilities | ||||||||||||||||||||
Non-current liabilities | ||||||||||||||||||||
Equity | ||||||||||||||||||||
2022 | ||||||||||||||||||||
(in millions of Korean won) | KT Skylife Co., Ltd. | BC Card Co., Ltd. | KTIS Corporation | KTCS Corporation | Nasmedia Co., Ltd. | |||||||||||||||
Operating revenue | ￦ | ￦ | ￦ | ￦ | ￦ | |||||||||||||||
Profit for the year | ||||||||||||||||||||
Other comprehensive income (loss) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||
Total comprehensive income | ||||||||||||||||||||
2023 | ||||||||||||||||||||
(in millions of Korean won) | KT Skylife Co., Ltd. | BC Card Co., Ltd. | KTIS Corporation | KTCS Corporation | Nasmedia Co., Ltd. | |||||||||||||||
Operating revenue | ￦ | ￦ | ￦ | ￦ | ￦ | |||||||||||||||
Profit for the year | ( | ) | ||||||||||||||||||
Other comprehensive income (loss) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||
Total comprehensive income | ( | ) | ||||||||||||||||||
2024 | ||||||||||||||||||||
(in millions of Korean won) | KT Skylife Co., Ltd. | BC Card Co., Ltd. | KTIS Corporation | KTCS Corporation | Nasmedia Co., Ltd. | |||||||||||||||
Operating revenue | ￦ | ￦ | ￦ | ￦ | ￦ | |||||||||||||||
Profit for the year | ( | ) | ( | ) | ||||||||||||||||
Other comprehensive income (loss) | ( | ) | ( | ) | ( | ) | ||||||||||||||
Total comprehensive income | ( | ) | ( | ) | ||||||||||||||||
2022 | ||||||||||||||||||||
(in millions of Korean won) | KT Skylife Co., Ltd. | BC Card Co., Ltd. | KTIS Corporation | KTCS Corporation | Nasmedia Co., Ltd. | |||||||||||||||
Cash flows from operating activities | ￦ | ￦ | ( | ) | ￦ | ￦ | ￦ | |||||||||||||
Cash flows from investing activities | ( | ) | ( | ) | ||||||||||||||||
Cash flows from financing activities | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||
Net increase (decrease) in cash and cash equivalents | ( | ) | ( | ) | ||||||||||||||||
Cash and cash equivalents at beginning of year | ||||||||||||||||||||
Exchange differences | ( | ) | ( | ) | — | |||||||||||||||
Cash and cash equivalents at end of the year | ||||||||||||||||||||
2023 | ||||||||||||||||||||
(in millions of Korean won) | KT Skylife Co., Ltd. | BC Card Co., Ltd. | KTIS Corporation | KTCS Corporation | Nasmedia Co., Ltd. | |||||||||||||||
Cash flows from operating activities | ￦ | ￦ | ￦ | ￦ | ￦ | |||||||||||||||
Cash flows from investing activities | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||
Cash flows from financing activities | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||
Net increase (decrease) in cash and cash equivalents | ( | ) | ( | ) | ||||||||||||||||
Cash and cash equivalents at beginning of year | ||||||||||||||||||||
Exchange differences | — | ( | ) | — | — | |||||||||||||||
Cash and cash equivalents at end of the year | ||||||||||||||||||||
2024 | ||||||||||||||||||||
(in millions of Korean won) | KT Skylife Co., Ltd. | BC Card Co., Ltd. | KTIS Corporation | KTCS Corporation | Nasmedia Co., Ltd. | |||||||||||||||
Cash flows from operating activities | ￦ | ￦ | ( | ) | ￦ | ￦ | ￦ | |||||||||||||
Cash flows from investing activities | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||
Cash flows from financing activities | ( | ) | ( | ) | ( | ) | ||||||||||||||
Net increase (decrease) in cash and cash equivalents | ( | ) | ||||||||||||||||||
Cash and cash equivalents at beginning of year | ||||||||||||||||||||
Exchange differences | — | — | — | |||||||||||||||||
Cash and cash equivalents at end of the year | ||||||||||||||||||||
(3) | Transactions with Non-controlling Interests |
(in millions of Korean won) | 2022 | 2023 | 2024 | |||||||||
Carrying amount of non-controlling interests acquired | ￦ | ￦ | ￦ | ( | ) | |||||||
Consideration paid to non-controlling interests | ( | ) | ||||||||||
Effect of changes in equity (net amount) | ￦ | ￦ | ￦ | ( | ) | |||||||
40. | Events After the Reporting Period |
| (1) | The Group has decided to acquire treasury stocks ( ￦ Value-Up Plan’. |
| (2) | The Group issued the following bonds after the end of the reporting period, and the details are as follows. |
(In thousands of foreign currencies) | ||||||||||||||||
Type | Issued Date | Foreign currency | Annual interest rates | Maturity | ||||||||||||
The bond in Japanese yen | JPY | % | ||||||||||||||
The bond in Japanese yen | JPY | % | ||||||||||||||