Pension Plans (Tables)

9 Months Ended

Sep. 30, 2018

Retirement Benefits [Abstract]

Schedule of Changes in Benefit Obligation

Information with respect to changes in benefit obligation and the funded status of the plans is as follows (in thousands of Korean Won):

	September 30, 2018			December 31, 2017
Change in projected benefit liability
Liability at beginning of year	￦	930,098		￦	880,656
Service cost		154,307			226,787
Interest cost		8,381			10,991
Benefit payments		(35,048	)		(146,892	)
Prior service cost		-			-
Remeasurement of defined benefit liabilities		8,639			(41,444	)
Liability at end of year		1,066,377			930,098
Plan assets at end of year		-			-
Funded status and net liability recognized	￦	(1,066,377	)	￦	(930,098	)

Schedule of Components of Benefit Expense

The components of benefit expense are as follows (in thousands of Korean Won):

	September 30, 2018		December 31, 2017
Service cost	￦	154,307	￦	226,787
Interest cost		8,381		10,991
Prior service cost		-		-
Total	￦	162,688	￦	237,778

Schedule of Weighted Average Assumption Used

The weighted-average assumptions used to determine projected benefit liability and benefit expense for pension plans are as follows:

	September 30, 2018			December 31, 2017
Discount rate		3.05	%		3.21	%
Expected long-term rate of return on plan assets		N/A			N/A
Rate of compensation increase		2.00	%		2.00	%

Schedule of Estimated Future Benefit Payments

The estimated future benefit payments are as follows (in thousands of Korean Won):

Year Ending September 30,
2019	￦	44,555
2020		51,936
2021		55,446
2022		59,937
2023		63,384
Thereafter		2,234,465
Total	￦	2,509,723