Pension Plans (Tables)

12 Months Ended

Dec. 31, 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):

	December 31, 2018			December 31, 2017
Change in projected benefit liability
Liability at beginning of year	￦	930,098		￦	880,656
Service cost		205,742			226,787
Interest cost		11,175			10,991
Benefit payments		(42,877	)		(146,892	)
Prior service cost		-			-
Remeasurement of defined benefit liabilities		76,592			(41,444	)
Liability at end of year		1,180,730			930,098
Plan assets at end of year		-			-
Funded status and net liability recognized	￦	(1,180,730	)	￦	(930,098	)

Schedule of Components of Benefit Expense

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

	December 31, 2018		December 31, 2017
Service cost	￦	205,742	￦	226,787
Interest cost		11,175		10,991
Prior service cost		-		-
Total	￦	216,917	￦	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:

	December 31, 2018			December 31, 2017
Discount rate		2.78	%		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 December 31,
2019	￦	41,679
2020		51,669
2021		50,013
2022		54,333
2023		58,573
Thereafter		3,029,463
Total	￦	3,285,730