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Employee Benefits (Tables)
 12 Months Ended
Dec. 31, 2019
Statement [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 at the reporting date are as follows:
 
(In millions of won)
  
 
 
  
 
 
 
  
December 31, 2018
 
  
December 31, 2019
 
Present value of partially funded defined benefit obligations
  
W
1,595,423
 
  
 
1,481,339
 
Fair value of plan assets
  
 
(1,550,063
) 
  
 
(1,607,253
) 
 
  
 
 
 
  
 
 
 
 
  
W
45,360
 
  
 
(125,914
) 
 
  
 
 
 
  
 
 
 
Defined benefit liabilities, net
  
W
45,360
 
  
 
1,338
 
Defined benefit assets
  
W
—  
 
  
 
127,252
 
Details of Plan Assets
 
(d)
Plan assets at the reporting date are as follows:
 
(In millions of won)
  
 
 
  
 
 
 
  
December 31, 2018
 
  
December 31, 2019
 
Guaranteed deposits in banks
  
W
1,550,063
 
  
 
1,607,253
 
As of December 31, 2019, the Group maintains the plan assets primarily with Mirae Asset Daewoo Co., Ltd., KB Insurance Co., Ltd. and others.
Expenses Recognized in Profit or Loss and Line Items Included in Consolidated Statements of Comprehensive Income
 
(e)
Expenses recognized in profit or loss for the years ended December 31, 2017, 2018 and 2019 are as follows:
 
(In millions of won)
  
 
 
  
 
 
  
 
 
 
  
2017
 
  
2018
 
  
2019
 
Current service cost
  
W
195,850
 
  
 
204,668
 
  
 
194,469
 
Past service cost
  
 
—  
 
  
 
(25,749
) 
  
 
(32,006
) 
Net interest cost
  
 
2,391
 
  
 
961
 
  
 
534
 
 
  
 
 
 
  
 
 
 
  
 
 
 
 
  
W
198,241
 
  
 
179,880
 
  
 
162,997
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Expenses are recognized in the following line items in the consolidated statements of comprehensive income (loss):
 
(In millions of won)
  
 
 
  
 
 
  
 
 
 
  
2017
 
  
2018
 
  
2019
 
Cost of sales
  
W
158,418
 
  
 
134,879
 
  
 
119,147
 
Selling expenses
  
 
11,114
 
  
 
11,045
 
  
 
10,600
 
Administrative expenses
  
 
16,287
 
  
 
19,472
 
  
 
18,360
 
Research and development expenses
  
 
12,422
 
  
 
14,484
 
  
 
14,890
 
 
  
 
 
 
  
 
 
 
  
 
 
 
 
  
W
198,241
 
  
 
179,880
 
  
 
162,997
 
 
  
 
 
 
  
 
 
 
  
 
 
 
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, 2017, 2018 and 2019 are as follows:
 
(In millions of won)
  
2017
 
  
2018
 
  
2019
 
Balance at January 1
  
W
(163,950
) 
  
 
(170,510
) 
  
 
(165,969
) 
Remeasurements
  
   
  
   
  
   
Actuarial profit or loss arising from:
  
   
  
   
  
   
Experience adjustment
  
 
(48,890
) 
  
 
56,225
 
  
 
43,644
 
Demographic assumptions
  
 
(7,702
) 
  
 
(15,379
) 
  
 
(19,952
) 
Financial assumptions
  
 
56,706
 
  
 
(12,961
) 
  
 
113,772
 
Return on plan assets
  
 
(16,374
) 
  
 
(22,195
) 
  
 
(8,824
) 
Group’s share of associates regarding remeasurements
  
 
441
 
  
 
20
 
  
 
238
 
 
  
 
 
 
  
 
 
 
  
 
 
 
 
  
W
(15,819
) 
  
 
5,710
 
  
 
128,878
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Income tax
  
W
9,259
 
  
 
(1,169
) 
  
 
(35,235
) 
 
  
 
 
 
  
 
 
 
  
 
 
 
Balance at December 31
  
W
(170,510
) 
  
 
(165,969
) 
  
 
(72,326
) 
 
  
 
 
 
  
 
 
 
  
 
 
 
Principal Actuarial Assumptions
 
(g)
Principal actuarial assumptions at the reporting date (expressed as weighted averages) are as follows:
 
 
  
2018
 
 
2019
 
Expected rate of salary increase
  
 
4.3
% 
 
 
3.4
% 
Discount rate for defined benefit obligations
  
 
2.8
% 
 
 
2.4
% 
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,
2018
 
 
December 31,
2019
 
Teens
  
Males
  
 
0.01
% 
 
 
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
  
 
0.01
% 
 
 
0.00
% 
Forties
  
Males
  
 
0.03
% 
 
 
0.02
% 
  
Females
  
 
0.02
% 
 
 
0.01
% 
Fifties
  
Males
  
 
0.05
% 
 
 
0.04
% 
  
Females
  
 
0.02
% 
 
 
0.02
% 
Amounts of Defined Benefit Obligations Affected by Reasonably Possible Changes to Respective Relevant Actuarial Assumptions
 (h)
Reasonably possible changes to respective relevant actuarial assumptions would have affected the defined benefit obligations by the following amounts as of December 31, 2019:
 
(In millions of won)
  
Defined benefit obligation
 
   
1% increase
   
1% decrease
 
Discount rate for defined benefit obligations
  
W
(194,432)    237,364 
Expected rate of salary increase
   233,106    (194,965) 
Defined benefit obligations [member]  
Statement [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, 2018 and 2019 are as follows:
 
(In millions of won)
  
 
 
  
 
 
 
  
2018
 
  
2019
 
Opening defined benefit obligations
  
W
1,562,424
 
  
 
1,595,423
 
Current service cost
  
 
204,668
 
  
 
194,469
 
Past service cost
  
 
(25,749
) 
  
 
(32,006
) 
Interest cost
  
 
49,145
 
  
 
42,360
 
Remeasurements (before tax)
  
 
(27,885
) 
  
 
(137,464
) 
Benefit payments
  
 
(88,562
) 
  
 
(95,675
) 
Curtailment of plans
  
 
(74,459
) 
  
 
(80,470
) 
Net transfers from (to) related parties
  
 
(4,217
) 
  
 
(5,349
) 
Others
  
 
58
 
  
 
51
 
 
  
 
 
 
  
 
 
 
Closing defined benefit obligations
  
W
1,595,423
 
  
 
1,481,339
 
 
  
 
 
 
  
 
 
 
Weighted average remaining maturity of defined benefit obligations as of December 31, 2018 and 2019 are 14.4 years and 15.1 years, respectively.
Fair value of plan assets [member]  
Statement [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, 2018 and 2019 are as follows:
 
(In millions of won)
  
 
 
  
 
 
 
  
2018
 
  
2019
 
Opening fair value of plan assets
  
W
1,466,977
 
  
 
1,550,063
 
Expected return on plan assets
  
 
48,184
 
  
 
41,826
 
Remeasurements (before tax)
  
 
(22,195
) 
  
 
(8,824
) 
Contributions by employer directly to plan assets
  
 
212,224
 
  
 
186,641
 
Benefit payments
  
 
(80,690
) 
  
 
(82,266
) 
Net transfers from (to) related parties
  
 
—  
 
  
 
280
 
Curtailment of plans
  
 
(74,437
) 
  
 
(80,467
) 
 
  
 
 
 
  
 
 
 
Closing fair value of plan assets
  
W
1,550,063
 
  
 
1,607,253