Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of defined benefit plans [line items]

Net Defined Benefit Liabilities, Changes in Present Value of Defined Benefit Obligations and Changes in Fair Value of Plan Assets

(a)Net defined benefit liabilities (defined benefit assets) recognized as of December 31, 2022 and 2023 are as follows:

(In millions of won)
	December 31, 2022			December 31, 2023
Present value of partially funded defined benefit obligations	₩	1,602,697			1,491,146
Fair value of plan assets		(2,048,687	)		(1,897,025	)
	₩	(445,990	)		(405,879	)
Defined benefit liabilities, net	₩	1,531			1,559
Defined benefit assets, net	₩	447,521			407,438

Details of Plan Assets

(d)Plan assets as of December 31, 2022 and 2023 are as follows:

(In millions of won)	December 31, 2022		December 31, 2023
Guaranteed deposits in banks	₩	2,048,687		1,897,025

Expenses Recognized in Profit or Loss and Line Items Included in Consolidated Statements of Comprehensive Income

(e)Expenses related to defined benefit plans recognized in profit or loss for the years ended December 31, 2021, 2022 and 2023 are as follows:

(In millions of won)	2021			2022			2023
Current service cost	₩	150,136			173,534			173,879
Net interest cost		(5,895	)		(5,274	)		(23,942	)
	₩	144,241			168,260			149,937

Expenses are recognized in the consolidated statements of comprehensive income (loss) as follows:

(In millions of won)	2021		2022		2023
Cost of sales	₩	110,750		128,706		114,226
Selling expenses		6,631		8,017		7,138
Administrative expenses		16,496		18,780		16,865
Research and development expenses		10,364		12,757		11,708
	₩	144,241		168,260		149,937

Remeasurements of Net Defined Benefit Liabilities (Assets) Included in Other Comprehensive Income (Loss)

(f)Remeasurements of net defined benefit liabilities (assets) included in other comprehensive income (loss) for the years ended December 31, 2021, 2022 and 2023 are as follows:

(In millions of won)	2021			2022			2023
Balance at January 1	₩	38,154			(125,293	)		(2,900	)
Remeasurements
Actuarial profit or loss arising from:
Experience adjustment		(124,974	)		(83,376	)		66,461
Demographic assumptions		(7,206	)		(8,020	)		(85	)
Financial assumptions		(73,138	)		287,304			(871	)
Return on plan assets		(15,483	)		(30,044	)		(870	)
Group’s share of associates regarding remeasurements		(84	)		32		170
	₩	(220,885	)		165,896			64,805
Income tax	₩	57,438			(43,503	)		(14,818	)
Balance at December 31	₩	(125,293	)		(2,900	)		47,087

13.Employee Benefits, Continued

Principal Actuarial Assumptions

	December 31, 2022			December 31, 2023
Expected rate of salary increase		4.7	%		4.0	%
Discount rate for defined benefit obligations		5.4	%		4.6	%

Assumptions regarding future mortality are based on published statistics and mortality tables. The current mortality underlying the values of the liabilities in the defined benefit plans are as follows:

		December 31, 2022			December 31, 2023
Teens	Males		0.00	%		0.00	%
	Females		0.00	%		0.00	%
Twenties	Males		0.01	%		0.01	%
	Females		0.00	%		0.00	%
Thirties	Males		0.01	%		0.01	%
	Females		0.00	%		0.00	%
Forties	Males		0.02	%		0.02	%
	Females		0.01	%		0.01	%
Fifties	Males		0.04	%		0.04	%
	Females		0.02	%		0.02	%

Amounts of Defined Benefit Obligations Affected by Reasonably Possible Changes to Respective Relevant Actuarial Assumptions

(In millions of won)	Defined benefit obligations
	1% increase			1% decrease
Discount rate for defined benefit obligations	₩	(157,102	)		184,374
Expected rate of salary increase		192,107			(165,703	)

Defined benefit obligations [member]

Disclosure of defined benefit plans [line items]

Net Defined Benefit Liabilities, Changes in Present Value of Defined Benefit Obligations and Changes in Fair Value of Plan Assets

(b)Changes in the present value of the defined benefit obligations for the years ended December 31, 2022 and 2023 are as follows:

(In millions of won)	2022			2023
Defined benefit obligations at January 1	₩	1,684,096			1,602,697
Current service cost		173,534			173,879
Interest cost		59,104			83,793
Remeasurements (before tax)		(195,908	)		(65,505	)
Benefit payments		(116,472	)		(287,100	)
Net transfers from (to) related parties		(1,363	)		(16,551	)
Others		(294	)		(67	)
Defined benefit obligations at December 31	₩	1,602,697			1,491,146

Fair value of plan assets [member]

Disclosure of defined benefit plans [line items]

Net Defined Benefit Liabilities, Changes in Present Value of Defined Benefit Obligations and Changes in Fair Value of Plan Assets

(c)Changes in fair value of plan assets for the years ended December 31, 2022 and 2023 are as follows:

(In millions of won)	2022			2023
Fair value of plan assets at January 1	₩	1,750,783			2,048,687
Expected return on plan assets		64,378			107,735
Remeasurements (before tax)		(30,044	)		(870	)
Contributions by employer directly to plan assets		371,398			2,219
Benefit payments		(107,828	)		(260,528	)
Net transfers from (to) related parties		—			(218	)
Fair value of plan assets at December 31	₩	2,048,687			1,897,025