Leases

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Leases

26.Leases

(a)Leases as lessee

The Group leases buildings, vehicles, machinery and equipment and others. Information about leases for which the Group is a lessee is presented below.

(i)Right-of-use assets

Right-of-use assets related to leased properties that do not meet the definition of investment property are presented as property, plant and equipment (see Note 9(a)).

26.Leases, Continued

Changes in right-of-use assets for the years ended December 31, 2023 and 2024 are as follows:

(In millions of won)
	2023
	Buildings and structures			Land			Machinery and equipment			Vehicles			Others			Total
Beginning balance	₩	51,033			51,804			598			8,502			721			112,658
Acquisitions		65,133			—			881			6,698			1,899			74,611
Depreciation		(56,471	)		(2,846	)		(770	)		(7,482	)		(780	)		(68,349	)
Gain or loss on foreign    currency translation		(1,749	)		2,291			5			(279	)		58			326
Ending balance	₩	57,946			51,249			714			7,439			1,898			119,246

(In millions of won)
	2024
	Buildings and structures			Land			Machinery and equipment			Vehicles			Others			Total
Beginning balance	₩	57,946			51,249			714			7,439			1,898			119,246
Acquisitions		24,008			1			2,658			7,044			154			33,865
Depreciation		(56,080	)		(3,063	)		(1,645	)		(6,879	)		(778	)		(68,445	)
Gain or loss on foreign    currency translation		13,877			8,410			23			456			292			23,058
Classified as held for sale		(11,599	)		(5,585	)		—			(1,563	)		(44	)		(18,791	)
Ending balance	₩	28,152			51,012			1,750			6,497			1,522			88,933

(ii)Amounts recognized in profit or loss from leases other than leases recorded as right-of-use assets for the years ended December 31, 2022, 2023 and 2024 are as follows:

(In millions of won)
	2022			2023			2024
Interest on lease liabilities	₩	(3,656	)		(3,343	)		(2,874	)
Income from sub-leasing right-of-use assets		541			276			182
Expenses relating to short-term leases		(785	)		(241	)		(274	)
Expenses relating to leases of low-value assets that are not    short-term leases		(632	)		(942	)		(543	)

(iii)Changes in lease liabilities for the years ended December 31, 2023 and 2024 are as follows:

(In millions of won)
	2023			2024
Beginning balance	₩	72,788			73,364
Additions and others		70,716			55,619
Interest expense		3,343			2,874
Repayment of liabilities		(73,483	)		(73,882	)
Ending balance	₩	73,364			57,975

26.Leases, Continued

(iv)Total cash outflow from leases for the year ended December 31, 2024 amounted to W74,517 million (2023: W77,733).

(b)Leases as lessor

(i)Finance lease

For the years ended December 31, 2023 and 2024, the Group recognized interest income on lease receivables of W276 million and W182 million, respectively.

The following table sets out a maturity analysis of lease receivables, showing the undiscounted lease payments to be received after the reporting date.

(In millions of won)
	December 31, 2023			December 31, 2024
6 months or less	₩	3,580			3,255
6-12 months		597			3,255
1-2 years		—			3,797
Total undiscounted lease receivable	₩	4,177			10,307
Unearned finance income		(47	)		(244	)
Net Investment in the lease	₩	4,130			10,063

(ii)Operating lease

The Group leases out investment property and a portion of property, plant and equipment as operating leases (see Note 9 and 11).