Reserves

12 Months Ended

Dec. 31, 2018

Text block [abstract]

Reserves

28. Reserves

(1) Details of reserves, net of taxes, as of December 31, 2018 and 2017 are as follows:

(In millions of won)
	December 31, 2018			December 31, 2017
Valuation gain on FVOCI	￦	(124	)		—
Valuation gain on available-for-sale financial assets		—			168,211
Other comprehensive loss of investments in associates		(334,637	)		(320,060	)
Valuation loss on derivatives		(41,601	)		(73,828	)
Foreign currency translation differences for foreign operations		2,920			(9,050	)
	￦	(373,442	)		(234,727	)

(2) Changes in reserves for the years ended December 31, 2018 and 2017 are as follows:

(In millions of won)	2018
	Valuation gain (loss) on financial assets at FVOCI			Valuation gain (loss) on available-for-sale financial assets			Other compre- hensive loss of investments in associates			Valuation loss on derivatives			Foreign currency translation differences for foreign operations			Total
Balance at December 31, 2017	￦	—			168,211			(320,060	)		(73,828	)		(9,050	)		(234,727	)
Impact of adopting IFRS 9		99,407			(168,211	)		—			—			—			(68,804	)
Balance at January 1, 2018		99,407			—			(320,060	)		(73,828	)		(9,050	)		(303,531	)
Changes, net of taxes		(99,531	)		—			(14,577	)		32,227			11,970			(69,911	)
Balance at December 31, 2018	￦	(124	)		—			(334,637	)		(41,601	)		2,920			(373,442	)

(In millions of won)
	2017
	Valuation gain (loss) on available-for-sale financial assets		Other compre- hensive loss of investments in associates			Valuation loss on derivatives			Foreign currency translation differences for foreign operations			Total
Balance at January 1, 2017	￦	12,534		(179,167	)		(96,418	)		36,868			(226,183	)
Changes, net of taxes		155,677		(140,893	)		22,590			(45,918	)		(8,544	)
Balance at December 31, 2017	￦	168,211		(320,060	)		(73,828	)		(9,050	)		(234,727	)

(3) Changes in valuation gain on financial assets at FVOCI and available-for-sale financial assets for the years ended December 31, 2018 and 2017 are as follows:

(In millions of won)
	2018			2017
Balance at January 1	￦	99,407			12,534
Amount recognized as other comprehensive income during the year, net of taxes		(117,514	)		132,586
Amount reclassified to profit or loss, net of taxes		—			23,091
Amount reclassified to retained earnings, net of taxes		17,983			—
Balance at December 31	￦	(124	)		168,211

(4) Changes in valuation loss on derivatives for the years ended December 31, 2018 and 2017 are as follows:

(In millions of won)
	2018			2017
Balance at January 1	￦	(73,828	)		(96,418	)
Amount recognized as other comprehensive loss during the year, net of taxes		(11,301	)		17,965
Amount reclassified to profit or loss, net of taxes		43,528			4,625
Balance at December 31	￦	(41,601	)		(73,828	)