Financial Liabilities (Tables)

12 Months Ended

Dec. 31, 2018

(a)

Financial liabilities at the reporting date are as follows:


(In millions of won)
	December 31, 2017		December 31, 2018
Current
Current portion of long-term borrowings and bonds	W	1,452,926		1,553,907

	W	1,452,926		1,553,907

Non-current
Won denominated borrowings	W	1,251,258		2,700,608
Foreign currency denominated borrowings		1,392,931		2,531,663
Bonds		1,506,003		1,772,599
Derivatives(*)		—		25,758

	W	4,150,192		7,030,628

(*)	Represents exchange rate swap contracts related to foreign currency denominated borrowings and bonds.

(d)

Details of bonds issued and outstanding at the reporting date are as follows:


(In millions of won)	Maturity	Annual interest rate as of December 31, 2018 (%)		December 31, 2017			December 31, 2018
*Won denominated bonds(1)**
Publicly issued bonds	April 2019 ~ February 2023		1.80~3.45	W	2,015,000			1,900,000
Privately issued bonds	May 2025 ~ May 2033		3.25~4.25		—			110,000
Less discount on bonds					(4,238	)		(3,949	)
Less current portion					(504,759	)		(559,658	)

				W	1,506,003			1,446,393

Foreign currency denominated bond(*2)
Publicly issued bond	November 2021		3.88	W	—			335,430
Foreign currency equivalent					—		USD	300
Less discount on bonds					—			(9,224	)

				W	—			326,206

				W	1,506,003			1,772,599

(*1)	Principal of the won denominated bonds is to be repaid at maturity and interests are paid quarterly.

(*2)	Principal of the foreign currency denominated bond is to be repaid at maturity and interests are paid semi-annually.

(b)

Won denominated long-term borrowings at the reporting date are as follows:


(In millions of won) Lender	Annual interest rate as of December 31, 2018 (%)	December 31, 2017			December 31, 2018
Woori Bank	3-year Korean Treasury Bond rate – 2.75	W	1,922			1,259
Shinhan Bank	—		200,000			—
Korea Development Bank and others	CD rate (91days) + 0.64, 2.43~3.25		1,250,000			2,850,000
Less current portion of long-term borrowings			(200,664	)		(150,651	)

		W	1,251,258			2,700,608

(c)

Foreign currency denominated long-term borrowings at the reporting date are as follows:


(In millions of won and USD, CNY) Lender	Annual interest rate as of *December 31, 2018 (%)()**	December 31, 2017			December 31, 2018
The Export-Import Bank of Korea	3ML+0.75~1.70	W	755,337			955,975
China Construction Bank and others	USD: 3ML+0.80~2.00 CNY: PBOC*(0.90~1.05)		1,385,097			2,419,286

Foreign currency equivalent		USD	1,500		USD	2,262
		CNY	3,263		CNY	5,198
Less current portion of long-term borrowings		W	(747,503	)		(843,598	)

		W	1,392,931			2,531,663

(*)	ML represents Month LIBOR (London Inter-Bank Offered Rates) and PBOC represents People’s Bank of China.