Property and Equipment

12 Months Ended

Dec. 31, 2023

Property, plant and equipment [abstract]

8. Property and Equipment

(1)Details of property and equipment as of December 31, 2023 and 2022 are as follows:


	December 31, 2023
	Acquisition price		Accumulated depreciation		Book amount
	(In millions of Korean won)
Computer and other equipment	₩	7,186	₩	(5,650)	₩	1,536
Furniture and fixture	1,887		(1,620)		267
Construction In Progress	1,209		—		1,209
Vehicle	9		(8)		1
Leasehold improvements	2,172		(1,655)		517
Right-of-use assets	15,514		(8,893)		6,621
Total	₩	27,977	₩	(17,826)	₩	10,151


	December 31, 2022
	Acquisition price		Accumulated depreciation		Book amount
	(In millions of Korean won)
Computer and other equipment	₩	6,381	₩	(5,268)	₩	1,113
Furniture and fixture	1,787		(1,449)		338
Vehicle	9		(5)		4
Leasehold improvements	2,084		(1,357)		727
Right-of-use assets	16,197		(10,239)		5,958
Total	₩	26,458	₩	(18,318)	₩	8,140

(2)Changes in property and equipment for the years ended December 31, 2023, 2022 and 2021 are as follows:


	2023
	Computer and other equipment		Furniture and fixture		Construction in progress		Vehicle		Leasehold improvements		Right-of- use assets		Total
	(In millions of Korean won)
Beginning balance	₩	1,113	₩	338	₩	—	₩	4	₩	727	₩	5,958	₩	8,140
Lease	—		—		—		—		—		261		261
Acquisitions/Capital expenditure	1,065		105		1,209		—		82		4,443		6,904
Depreciation	(656)		(177)		—		(3)		(300)		(4,116)		(5,252)
Disposals/Disposition/Removals	—		(1)		—		—		—		—		(1)
Reclassification	(1)		1		—		—		—		—		—
Foreign exchange differences	15		1		—		—		8		75		99
Ending balance	₩	1,536	₩	267	₩	1,209	₩	1	₩	517	₩	6,621	₩	10,151


	2022
	Computer and other equipment		Furniture and fixture		Construction in progress		Vehicle		Leasehold improvements		Right-of- use assets		Total
	(In millions of Korean won)
Beginning balance	₩	1,455	₩	380	₩	—	₩	6	₩	757	₩	8,740	₩	11,338
Leases	—		—		—		—		—		(64)		(64)
Acquisitions/Capital expenditure	307		181		—		—		252		1,209		1,949
Depreciation	(657)		(222)		—		(2)		(266)		(3,998)		(5,145)
Disposals/Disposition/Removals	(1)		(2)		—		—		(10)		(45)		(58)
Reclassification	(6)		6		—		—		—		—		—
Foreign exchange differences	15		(5)		—		—		(6)		116		120
Ending balance	₩	1,113	₩	338	₩	—	₩	4	₩	727	₩	5,958	₩	8,140


	2021
	Computer and other equipment		Furniture and fixture		Construction in progress		Vehicle		Leasehold improvements		Right-of-use assets		Total
	(In millions of Korean won)
Beginning balance	₩	1,380	₩	310	₩	128	₩	8	₩	132	₩	5,737	₩	7,695
Acquisitions/Capital expenditure	712		322		—		—		753		6,319		8,106
Depreciation	(648)		(249)		—		(2)		(223)		(3,448)		(4,570)
Disposals	(15)		(3)		—		—		(44)		(63)		(125)
Reclassification	—		—		(128)		—		128		—		—
Foreign exchange differences	26		—		—		—		11		195		232
Ending balance	₩	1,455	₩	380	₩	—	₩	6	₩	757	₩	8,740	₩	11,338

(3)Classification of depreciation expenses in the statements of comprehensive income for the years ended December 31, 2023, 2022 and 2021 are as follows:


	2023		2022		2021
	(In millions of Korean won)
Cost of revenues	₩	1,853	₩	2,028	₩	2,102
Selling, general and administrative expenses	3,369		2,976		2,167
Research and development	30		141		301
Total	₩	5,252	₩	5,145	₩	4,570

(4)As of the end of the reporting period, there are no property and equipment that are pledged as collateral for the Group’s debts.