Pension Plans

9 Months Ended

Sep. 30, 2019

Retirement Benefits [Abstract]

Pension Plans

NOTE 8 – PENSION PLANS

The Company has a defined benefit plan covering all full time employees who met certain requirements of age, length of service and hours worked per year. Benefits paid to retirees are based upon age at retirement and years of credited service.

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

	September 30, 2019		September 30, 2018
Service cost	￦	160,335	￦	154,307
Interest cost		10,686		8,381
Prior service cost		-		-
Total	￦	171,021	￦	162,688