(1)Carrying amounts of financial instruments by category as of December 31, 2025 and 2024 are as follows:


	December 31, 2025		December 31, 2024
Financial assets at amortized cost	(In millions of Korean won)
Cash and cash equivalents	₩	203,599	₩	228,898
Short-term financial instruments	415,034		324,304
Accounts receivable, net	56,318		81,152
Other receivables, net	532		16
Other current financial assets(*1)	4,333		6,602
Other non-current financial assets(*2)	3,212		1,767
Financial assets at fair value through profit or loss
Long-term financial instruments(*3)	600		—
Total	₩	683,628	₩	642,739

The carrying amounts of these financial instruments approximate their fair values; therefore, separate disclosure of fair value is not presented.

(*3) Long-term financial instruments consist of convertible bonds and are included in other non-current financial assets.


	December 31, 2025		December 31, 2024
Financial liabilities at amortized cost	(In millions of Korean won)
Accounts payable (*)	₩	56,061	₩	63,328
Long-term accounts payable	623		220
Accrued expenses (*1)	385		313
Other financial liabilities
Lease liabilities (*2)	8,311		7,121
Total	₩	65,380	₩	70,982

The carrying amounts of these financial instruments approximate their fair values; therefore, separate disclosure of fair value is not presented

(*2) Lease liabilities were excluded from the fair value disclosure in accordance with IFRS 7 Financial Instruments:

(2) Net income and expenses from financial instruments for the years ended December 31, 2025, 2024 and 2023 are as f


	2025		2024		2023
Financial assets at amortized cost	(In millions of Korean won)
Interest income	₩	15,821	₩	17,059	₩	11,487
Differences in foreign currency	(4,218)		5,813		(1,654)
Financial assets at fair value through profit or loss
Interest income	1		—		5
Financial liabilities at amortized cost
Differences in foreign currency	2,221		(1,773)		(1,344)
Other financial liabilities
Interest expense	(282)		(135)		(162)

Fair values are categorized into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows:

•Level 2: all inputs other than quoted prices included in Level 1 that are observable (either directly that is, prices, or indirectly that is, derived from prices) for the asset or liability;

The fair value of financial instruments traded in an active market is determined based on the quoted market price as of the end of the reporting period. If the quoted prices are readily and regularly available through exchanges, sellers, brokers, industry groups, rating agencies or regulators and such prices represent actual market transactions that occur regularly between independent parties, they are considered active markets. These products are included in Level 1.

The fair value of financial instruments that are not traded in an active market is determined using valuation techniques. These valuation techniques use as much market observable information as possible and use the least amount of group-specific information. At this time, if all the significant input variables required to measure the fair value of a good are observable, the good is included in Level 2.

If more than one significant input variable is not based on observable market information, the item is included in Level 3.

•The fair value of derivative instruments is determined by discounting the amount to present value using the leading exchange rate as of the end of the reporting period

For the other financial instruments, the Group applied other valuation techniques such as discounted cash flow, etc.

There were no financial assets measured at fair value hierarchy level as of December 31, 2024. Financial instruments by fair value hierarchy level as of December 31, 2025 are as follows:

December 31, 2025

(In millions of Korean won)

Level 1

Level 2

Level 3

Total

Fair value

Long-term financial instruments

₩

—

₩

—

₩

600

₩

600