Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2018shares | |
Document and entity information [Abstract] | |
Entity Registrant Name | Woori Financial Group Inc. |
Entity Central Index Key | 0001264136 |
Document Type | 20-F |
Document Period End Date | Dec. 31, 2018 |
Amendment Flag | false |
Document Fiscal Year Focus | 2018 |
Document Fiscal Period Focus | FY |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 680,164,306 |
EntityEmergingGrowthCompany | false |
Entity Shell Company | false |
Consolidated Statements Of Fina
Consolidated Statements Of Financial Position | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | |
ASSETS [Abstract] | ||||
Cash and cash equivalents | ₩ 6,747,894,000,000 | $ 6,063,343,000 | ₩ 6,908,286,000,000 | |
Financial assets at fair value through profit or loss in accordance with IFRS 9 | [1] | 6,126,316,000,000 | 5,504,822,000 | 0 |
Financial assets at fair value through profit or loss in accordance with IAS 39 | [1] | 0 | 0 | 5,843,077,000,000 |
Financial assets at fair value through other comprehensive income | [1] | 18,063,423,000,000 | 16,230,949,000 | 0 |
Fair value | [1] | 0 | 0 | 15,352,950,000,000 |
Securities at amortized cost | [1] | 22,932,559,000,000 | 20,606,127,000 | 0 |
Held-to-maturity financial assets | [1] | 0 | 0 | 16,749,296,000,000 |
Loans and other financial assets at amortized cost | [1] | 282,457,578,000,000 | 253,803,197,000 | 0 |
Loans and receivables | [1] | 0 | 0 | 267,106,204,000,000 |
Investments in joint ventures and associates | 361,766,000,000 | 325,066,000 | 417,051,000,000 | |
Investment properties | 378,196,000,000 | 339,829,000 | 371,301,000,000 | |
Premises and equipments | 2,450,492,000,000 | 2,201,898,000 | 2,477,545,000,000 | |
Intangible assets and goodwill | 597,520,000,000 | 536,904,000 | 518,599,000,000 | |
Assets held for sale | 17,912,000,000 | 16,095,000 | 48,624,000,000 | |
Current income tax assets | 20,730,000,000 | 18,627,000 | 4,722,000,000 | |
Deferred income tax assets | 59,641,000,000 | 53,590,000 | 280,130,000,000 | |
Derivative financial assets | 35,503,000,000 | 31,901,000 | 59,272,000,000 | |
Other assets | 197,653,000,000 | 177,602,000 | 158,404,000,000 | |
Total assets | 340,447,183,000,000 | 305,909,950,000 | 316,295,461,000,000 | |
LIABILITIES [Abstract] | ||||
Financial liabilities at fair value through profit or loss in accordance with IFRS 9 | [1] | 2,282,686,000,000 | 2,051,115,000 | 0 |
Financial liabilities at fair value through profit or loss in accordance with IAS 39 | [1] | 0 | 0 | 3,427,909,000,000 |
Deposits due to customers | 248,690,939,000,000 | 223,462,071,000 | 234,695,084,000,000 | |
Borrowings | 16,202,986,000,000 | 14,559,247,000 | 14,784,706,000,000 | |
Debentures | 28,735,862,000,000 | 25,820,704,000 | 27,869,651,000,000 | |
Provisions | 391,313,000,000 | 351,616,000 | 410,470,000,000 | |
Net Defined benefit liabilities | 173,109,000,000 | 155,548,000 | 43,264,000,000 | |
Current income tax liabilities | 159,078,000,000 | 142,940,000 | 232,600,000,000 | |
Deferred income tax liabilities | 18,156,000,000 | 16,314,000 | 22,681,000,000 | |
Derivative financial liabilities | 51,408,000,000 | 46,193,000 | 67,754,000,000 | |
Other financial liabilities | 21,442,524,000,000 | 19,267,251,000 | 13,892,461,000,000 | |
Other liabilities | 346,078,000,000 | 310,969,000 | 283,981,000,000 | |
Total liabilities | 318,494,139,000,000 | 286,183,968,000 | 295,730,561,000,000 | |
EQUITY [Abstract] | ||||
Owner's equity | 21,739,931,000,000 | 19,534,488,000 | 20,365,892,000,000 | |
Capital stock | 3,381,392,000,000 | 3,038,361,000 | 3,381,392,000,000 | |
Hybrid securities | 3,161,963,000,000 | 2,841,192,000 | 3,017,888,000,000 | |
Capital surplus | 285,889,000,000 | 256,887,000 | 285,880,000,000 | |
Other equity | (2,213,970,000,000) | (1,989,370,000) | (1,939,274,000,000) | |
Retained earnings | 17,124,657,000,000 | 15,387,418,000 | 15,620,006,000,000 | |
Non-controlling interests | 213,113,000,000 | 191,494,000 | 199,008,000,000 | |
Total equity | 21,953,044,000,000 | 19,725,982,000 | 20,564,900,000,000 | |
Total liabilities and equity | ₩ 340,447,183,000,000 | $ 305,909,950,000 | ₩ 316,295,461,000,000 | |
[1] | The consolidated statements of financial position as of December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of financial position as of December 31, 2017 were not retrospectively restated in accordance with IFRS 9. |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income | 12 Months Ended | ||||||||
Dec. 31, 2018KRW (₩)₩ / shares | Dec. 31, 2018USD ($)$ / shares | Dec. 31, 2017KRW (₩)₩ / shares | Dec. 31, 2016KRW (₩)₩ / shares | ||||||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract] | |||||||||
Interest income | ₩ 9,684,499,000,000 | $ 8,702,038,000 | ₩ 8,550,687,000,000 | ₩ 8,512,312,000,000 | |||||
Interest income on financial assets at fair value through profit or loss (IFRS 9) | [1] | 54,243,000,000 | 48,740,000 | 0 | 0 | ||||
Interest income on financial assets at fair value through other comprehensive income | [1] | 280,371,000,000 | 251,928,000 | 0 | 0 | ||||
Interest income on financial assets at amortized cost | [1] | 9,349,885,000,000 | 8,401,370,000 | 0 | 0 | ||||
Interest income on financial assets at fair value through profit or loss in accordance with IAS 39 | [1] | 0 | 0 | 53,348,000,000 | 63,408,000,000 | ||||
Interest income on available-for-sale financial assets | [1] | 0 | 0 | 239,030,000,000 | 339,518,000,000 | ||||
Interest income on held-to-maturity financial assets | [1] | 0 | 0 | 307,965,000,000 | 360,054,000,000 | ||||
Interest income on loans and receivables | [1] | 0 | 0 | 7,950,344,000,000 | 7,749,332,000,000 | ||||
Interest expense | (4,033,548,000,000) | (3,624,358,000) | (3,330,037,000,000) | (3,492,768,000,000) | |||||
Net Interest income(expense) | 5,650,951,000,000 | 5,077,680,000 | 5,220,650,000,000 | 5,019,544,000,000 | |||||
Fees and commissions income | 1,680,764,000,000 | 1,510,256,000 | 2,069,198,000,000 | 1,865,470,000,000 | |||||
Fees and commissions expense | (610,790,000,000) | (548,827,000) | (998,732,000,000) | (928,339,000,000) | |||||
Net fees and commissions income | 1,069,974,000,000 | 961,429,000 | 1,070,466,000,000 | 937,131,000,000 | |||||
Dividend income | 90,552,000,000 | 81,366,000 | 124,992,000,000 | 184,510,000,000 | |||||
Net gain (loss) on financial instruments at fair value through profit or loss (IFRS 9) | [1] | 214,443,000,000 | 192,689,000 | 0 | 0 | ||||
Net gain on financial instruments at FVTPL (IFRS 9) | [1] | 0 | 0 | (104,827,000,000) | 114,387,000,000 | ||||
Net gain on financial assets at FVTOCI | [1] | 2,047,000,000 | 1,840,000 | 0 | 0 | ||||
Net gain (loss) on available-for-sale financial assets | [1] | 0 | 0 | 192,708,000,000 | (1,035,000,000) | ||||
Net gain on disposals of financial assets at amortized cost | [1] | 79,532,000,000 | 71,463,000 | 0 | 0 | ||||
Net gain on disposals of securities at amortized cost | [1] | 431,000,000 | 387,000 | 0 | 0 | ||||
Net gain on disposals of loans and other financial assets at amortized cost | 79,101,000,000 | [1] | 71,076,000 | [1] | 0 | [1] | 0 | ||
Reversal of allowance for credit loss and impairment losses due to credit loss | (329,574,000,000) | (296,140,000) | (785,133,000,000) | (834,076,000,000) | |||||
General and administrative expense | (3,624,033,000,000) | (3,256,387,000) | (3,530,801,000,000) | (3,478,476,000,000) | |||||
Other net operating income (expenses) | (394,591,000,000) | (354,561,000) | (31,313,000,000) | (367,779,000,000) | |||||
Operating income(expense) | 2,759,301,000,000 | 2,479,379,000 | 2,156,742,000,000 | 1,574,206,000,000 | |||||
Share of gain (loss) on subsidiaries and associates | 3,019,000,000 | 2,713,000 | (101,514,000,000) | (19,507,000,000) | |||||
Net other non-operating income (expenses) | 42,552,000,000 | 38,235,000 | (105,722,000,000) | (1,310,000,000) | |||||
Non operating income(expense) | 45,571,000,000 | 40,948,000 | (207,236,000,000) | (20,817,000,000) | |||||
Net income(expense) before income tax expense | 2,804,872,000,000 | 2,520,327,000 | 1,949,506,000,000 | 1,553,389,000,000 | |||||
Income tax expense | (753,223,000,000) | (676,811,000) | (419,418,000,000) | (275,856,000,000) | |||||
Net income(expense) | 2,051,649,000,000 | 1,843,516,000 | 1,530,088,000,000 | 1,277,533,000,000 | |||||
Other comprehensive income [abstract] | |||||||||
Net loss on valuation of equity securities at fair value through other comprehensive income | [1] | (30,855,000,000) | (27,724,000) | 0 | 0 | ||||
Net gain on valuation of financial liabilities designated as at FVTPL due to own credit risk | [1],[2] | 100,000,000 | 90,000 | 0 | 0 | ||||
Items out of change in equity method securities due to change in equity of investee that will not be reclassified to profit or loss | 0 | 0 | (2,993,000,000) | 0 | |||||
Remeasurement gain (loss) related to defined benefit plan | (84,629,000,000) | (76,043,000) | 10,497,000,000 | 34,162,000,000 | |||||
Items that will not be reclassified to profit or loss | (115,384,000,000) | (103,677,000) | 7,504,000,000 | 34,162,000,000 | |||||
Net gain (loss) on valuation of debt securities at FVTOCI | [1] | 33,360,000,000 | 29,976,000 | 0 | 0 | ||||
Net gain (loss) on valuation of available-for-sale financial assets | [1] | 0 | 0 | (84,498,000,000) | 12,586,000,000 | [2] | |||
Share of other comprehensive gain (loss) of joint ventures and associates | 2,958,000,000 | 2,658,000 | 3,605,000,000 | (7,937,000,000) | |||||
Net loss on foreign currency translation of foreign operations | (4,379,000,000) | (3,934,000) | (208,329,000,000) | 28,712,000,000 | |||||
Changes in other comprehensive income related to valuation gain or loss on cash flow hedge | (4,646,000,000) | (4,175,000) | 777,000,000 | 10,371,000,000 | |||||
Other comprehensive income related to assets held for sale | (4,145,000,000) | (3,725,000) | 4,145,000,000 | 0 | |||||
Items that may be reclassified to profit or loss | 23,148,000,000 | 20,800,000 | (284,300,000,000) | 43,732,000,000 | |||||
Other comprehensive income(loss), net of tax | (92,236,000,000) | (82,877,000) | (276,796,000,000) | 77,894,000,000 | |||||
Total comprehensive income | 1,959,413,000,000 | 1,760,639,000 | 1,253,292,000,000 | 1,355,427,000,000 | |||||
Net income attributable to: | |||||||||
Net income attributable to shareholders | 2,033,182,000,000 | 1,826,922,000 | 1,512,148,000,000 | 1,261,266,000,000 | |||||
Net income attributable to non-controlling interests | 18,467,000,000 | 16,594,000 | 17,940,000,000 | 16,267,000,000 | |||||
Total comprehensive income attributable to: | |||||||||
Comprehensive income attributable to shareholders | 1,943,885,000,000 | 1,746,686,000 | 1,249,057,000,000 | 1,332,614,000,000 | |||||
Comprehensive income attributable to non-controlling interests | ₩ 15,528,000,000 | $ 13,953,000 | ₩ 4,235,000,000 | ₩ 22,813,000,000 | |||||
Earnings per share [Abstract] | |||||||||
Basic and diluted earnings per share(Unit: Korean Won and U.S. Dollar) | (per share) | ₩ 2,796 | $ 2.512 | ₩ 1,999 | ₩ 1,567 | |||||
[1] | The consolidated statements of comprehensive income for the year ended December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of comprehensive income for the years ended December 31, 2016 and 2017 were not retrospectively restated in accordance with IFRS 9. | ||||||||
[2] | The consolidated statements of changes in equity for the year ended December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of changes in equity for the years ended December 31, 2016 and 2017 were not retrospectively restated in accordance with IFRS 9. |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Equity | KRW (₩) | USD ($) | Owner's equityKRW (₩) | Owner's equityUSD ($) | Capital StockKRW (₩) | Capital StockUSD ($) | Hybrid securitiesKRW (₩) | Hybrid securitiesUSD ($) | Capital surplusKRW (₩) | Capital surplusUSD ($) | Other equityKRW (₩) | Other equityUSD ($) | Retained earningsKRW (₩) | Retained earningsUSD ($) | Non-controlling interestsKRW (₩) | Non-controlling interestsUSD ($) | |||||||||||
Balance at beginning at Dec. 31, 2015 | ₩ 19,309,915,000,000 | ₩ 19,188,472,000,000 | ₩ 3,381,392,000,000 | ₩ 3,334,002,000,000 | ₩ 294,259,000,000 | ₩ (1,547,303,000,000) | ₩ 13,726,122,000,000 | ₩ 121,443,000,000 | |||||||||||||||||||
Changes in equity [Abstract] | |||||||||||||||||||||||||||
Net income(expense) | 1,277,533,000,000 | 1,261,266,000,000 | 0 | 0 | 0 | 0 | 1,261,266,000,000 | 16,267,000,000 | |||||||||||||||||||
Dividends to common stocks | (169,603,000,000) | (168,317,000,000) | 0 | 0 | 0 | 0 | (168,317,000,000) | (1,286,000,000) | |||||||||||||||||||
Changes in non-controlling interests due to acquisition of subsidiary | 16,823,000,000 | 0 | 0 | 0 | 0 | 0 | 0 | 16,823,000,000 | |||||||||||||||||||
Net gain on valuation of financial liabilities designated as at FVTPL due to own credit risk | [1],[2] | 0 | |||||||||||||||||||||||||
Net gain (loss) on valuation of available-for-sale financial assets | 12,586,000,000 | [1],[2] | 12,296,000,000 | [1] | 0 | 0 | 0 | 12,296,000,000 | [1] | 0 | 290,000,000 | [1] | |||||||||||||||
Share of other comprehensive gain (loss) of joint ventures and associates | (7,937,000,000) | (7,937,000,000) | 0 | 0 | 0 | (7,937,000,000) | 0 | 0 | |||||||||||||||||||
Net loss on foreign currency translation of foreign operations | 28,712,000,000 | 22,436,000,000 | 0 | 0 | 0 | 22,436,000,000 | 0 | 6,276,000,000 | |||||||||||||||||||
Changes in other comprehensive income related to valuation gain or loss on cash flow hedge | 10,371,000,000 | 10,371,000,000 | 0 | 0 | 0 | 10,371,000,000 | 0 | 0 | |||||||||||||||||||
Remeasurement gain (loss) related to defined benefit plan | 34,162,000,000 | 34,182,000,000 | 0 | 0 | 0 | 34,182,000,000 | 0 | (20,000,000) | |||||||||||||||||||
Other comprehensive income related to assets held for sale | 0 | ||||||||||||||||||||||||||
Dividends to hybrid securities | (206,515,000,000) | (206,515,000,000) | 0 | 0 | 0 | 0 | (206,515,000,000) | 0 | |||||||||||||||||||
Issuance of hybrid securities | 549,904,000,000 | 549,904,000,000 | 0 | 549,904,000,000 | 0 | 0 | 0 | 0 | |||||||||||||||||||
Redemption of hybrid securities | (310,000,000,000) | (310,000,000,000) | 0 | (309,010,000,000) | 0 | 0 | (990,000,000) | 0 | |||||||||||||||||||
Balance at end at Dec. 31, 2016 | 20,545,953,000,000 | 20,386,160,000,000 | 3,381,392,000,000 | 3,574,896,000,000 | 286,331,000,000 | (1,468,025,000,000) | 14,611,566,000,000 | 159,793,000,000 | |||||||||||||||||||
Changes in equity [Abstract] | |||||||||||||||||||||||||||
Changes in equity of subsidiaries | 2,000,000 | 2,000,000 | 0 | 0 | (7,928,000,000) | 7,930,000,000 | 0 | 0 | |||||||||||||||||||
Net income(expense) | 1,530,088,000,000 | 1,512,148,000,000 | 0 | 0 | 0 | 0 | 1,512,148,000,000 | 17,940,000,000 | |||||||||||||||||||
Dividends to common stocks | (338,190,000,000) | (336,636,000,000) | 0 | 0 | 0 | 0 | (336,636,000,000) | (1,554,000,000) | |||||||||||||||||||
Capital increase of subsidiaries | 36,083,000,000 | (451,000,000) | 0 | 0 | (451,000,000) | 0 | 0 | 36,534,000,000 | |||||||||||||||||||
Net gain on valuation of financial liabilities designated as at FVTPL due to own credit risk | [1],[2] | 0 | |||||||||||||||||||||||||
Changes in other comprehensive income related to valuation of financial assets at FVTOCI | 0 | ||||||||||||||||||||||||||
Net gain (loss) on valuation of available-for-sale financial assets | (84,498,000,000) | [2] | (85,051,000,000) | [1] | 0 | 0 | 0 | (85,051,000,000) | [1] | 0 | [1] | 553,000,000 | [1] | ||||||||||||||
Share of other comprehensive gain (loss) of joint ventures and associates | 612,000,000 | 612,000,000 | 0 | 0 | 0 | 612,000,000 | 0 | 0 | |||||||||||||||||||
Net loss on foreign currency translation of foreign operations | (208,329,000,000) | (194,347,000,000) | 0 | 0 | 0 | (194,347,000,000) | 0 | (13,982,000,000) | |||||||||||||||||||
Changes in other comprehensive income related to valuation gain or loss on cash flow hedge | 777,000,000 | 777,000,000 | 0 | 0 | 0 | 777,000,000 | 0 | 0 | |||||||||||||||||||
Remeasurement gain (loss) related to defined benefit plan | 10,497,000,000 | 10,773,000,000 | 0 | 0 | 0 | 10,773,000,000 | 0 | (276,000,000) | |||||||||||||||||||
Other comprehensive income related to assets held for sale | 4,145,000,000 | 4,145,000,000 | 0 | 0 | 0 | 4,145,000,000 | 0 | 0 | |||||||||||||||||||
Dividends to hybrid securities | (167,072,000,000) | (167,072,000,000) | 0 | 0 | 0 | 0 | (167,072,000,000) | 0 | |||||||||||||||||||
Issuance of hybrid securities | 559,565,000,000 | 559,565,000,000 | 0 | 559,565,000,000 | 0 | 0 | 0 | 0 | |||||||||||||||||||
Redemption of hybrid securities | (1,324,731,000,000) | (1,324,731,000,000) | 0 | (1,116,573,000,000) | 0 | (208,158,000,000) | 0 | 0 | |||||||||||||||||||
Balance at end at Dec. 31, 2017 | 20,564,900,000,000 | $ 18,478,657,000 | 20,365,892,000,000 | $ 18,299,838,000 | 3,381,392,000,000 | $ 3,038,361,000 | 3,017,888,000,000 | $ 2,711,733,000 | 285,880,000,000 | $ 256,878,000 | (1,939,274,000,000) | $ (1,742,542,000) | 15,620,006,000,000 | $ 14,035,408,000 | 199,008,000,000 | $ 178,819,000 | |||||||||||
Changes in equity [Abstract] | |||||||||||||||||||||||||||
Net income(expense) | 2,051,649,000,000 | 1,843,516,000 | 2,033,182,000,000 | 1,826,922,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,033,182,000,000 | 1,826,922,000 | 18,467,000,000 | 16,594,000 | |||||||||||
Dividends to common stocks | (338,764,000,000) | (304,397,000) | (336,636,000,000) | (302,485,000) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (336,636,000,000) | (302,485,000) | (2,128,000,000) | (1,912,000) | |||||||||||
Net gain on valuation of financial liabilities designated as at FVTPL due to own credit risk | 100,000,000 | [1],[2] | 90,000 | [1],[2] | 100,000,000 | [1] | 90,000 | [1] | 0 | 0 | 0 | 0 | 0 | 0 | 100,000,000 | [1] | 90,000 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | |
Changes in other comprehensive income related to valuation of financial assets at FVTOCI | 2,505,000,000 | [1] | 2,251,000 | [1] | 2,733,000,000 | [1] | 2,456,000 | [1] | 0 | 0 | 0 | 0 | 0 | 0 | 2,733,000,000 | [1] | 2,456,000 | [1] | 0 | [1] | 0 | [1] | (228,000,000) | [1] | (205,000) | [1] | |
Net gain (loss) on valuation of available-for-sale financial assets | [2] | 0 | 0 | ||||||||||||||||||||||||
Share of other comprehensive gain (loss) of joint ventures and associates | (7,689,000,000) | (6,909,000) | (7,689,000,000) | (6,909,000) | 0 | 0 | 0 | 0 | 0 | 0 | 2,958,000,000 | 2,658,000 | (10,647,000,000) | (9,567,000) | 0 | 0 | |||||||||||
Net loss on foreign currency translation of foreign operations | (4,379,000,000) | (3,934,000) | (1,929,000,000) | (1,733,000) | 0 | 0 | 0 | 0 | 0 | 0 | (1,929,000,000) | (1,733,000) | 0 | 0 | (2,450,000,000) | (2,201,000) | |||||||||||
Changes in other comprehensive income related to valuation gain or loss on cash flow hedge | (4,646,000,000) | (4,175,000) | (4,646,000,000) | (4,175,000) | 0 | 0 | 0 | 0 | 0 | 0 | (4,646,000,000) | (4,175,000) | 0 | 0 | 0 | 0 | |||||||||||
Remeasurement gain (loss) related to defined benefit plan | (84,629,000,000) | (76,043,000) | (84,368,000,000) | (75,808,000) | 0 | 0 | 0 | 0 | 0 | 0 | (84,368,000,000) | (75,808,000) | 0 | 0 | (261,000,000) | (235,000) | |||||||||||
Other comprehensive income related to assets held for sale | (4,145,000,000) | (3,725,000) | (4,145,000,000) | (3,725,000) | 0 | 0 | 0 | 0 | 0 | 0 | (4,145,000,000) | (3,725,000) | 0 | 0 | 0 | 0 | |||||||||||
Dividends to hybrid securities | (151,194,000,000) | (135,856,000) | (151,194,000,000) | (135,856,000) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (151,194,000,000) | (135,856,000) | 0 | 0 | |||||||||||
Issuance of hybrid securities | 398,707,000,000 | 358,259,000 | 398,707,000,000 | 358,259,000 | 0 | 0 | 398,707,000,000 | 358,259,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||
Redemption of hybrid securities | (255,000,000,000) | (229,131,000) | (255,000,000,000) | (229,131,000) | 0 | 0 | (254,632,000,000) | (228,800,000) | 0 | 0 | (368,000,000) | (331,000) | 0 | 0 | 0 | 0 | |||||||||||
Appropriation of retained earnings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 208,158,000,000 | 187,041,000 | (208,158,000,000) | (187,041,000) | 0 | 0 | |||||||||||
Balance at end at Dec. 31, 2018 | 21,953,044,000,000 | 19,725,982,000 | 21,739,931,000,000 | 19,534,488,000 | 3,381,392,000,000 | 3,038,361,000 | 3,161,963,000,000 | 2,841,192,000 | 285,889,000,000 | 256,887,000 | (2,213,970,000,000) | (1,989,370,000) | 17,124,657,000,000 | 15,387,418,000 | 213,113,000,000 | 191,494,000 | |||||||||||
Cumulative effect of changes in accounting policy | [1] | (214,362,000,000) | (192,614,000) | (215,085,000,000) | (193,264,000) | 0 | 0 | 0 | 0 | 0 | 0 | (392,176,000,000) | (352,390,000) | 177,091,000,000 | 159,126,000 | 723,000,000 | 650,000 | ||||||||||
Adjusted balance, beginning of period | 20,350,538,000,000 | 18,286,043,000 | 20,150,807,000,000 | 18,106,574,000 | 3,381,392,000,000 | 3,038,361,000 | 3,017,888,000,000 | 2,711,733,000 | 285,880,000,000 | 256,878,000 | (2,331,450,000,000) | (2,094,932,000) | 15,797,097,000,000 | 14,194,534,000 | 199,731,000,000 | 179,469,000 | |||||||||||
Changes in equity [Abstract] | |||||||||||||||||||||||||||
Changes in equity of subsidiaries | (9,000,000) | (7,000) | 9,000,000 | 9,000 | 0 | 0 | 0 | 0 | 9,000,000 | 9,000 | 0 | 0 | 0 | 0 | (18,000,000) | (16,000) | |||||||||||
Changes in other comprehensive income due to redemption of financial liabilities designated as at FVTPL | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | 0 | 0 | 0 | 0 | 0 | (4,000,000) | [1] | (4,000) | [1] | 4,000,000 | [1] | 4,000 | [1] | 0 | [1] | 0 | [1] | |
Changes in other comprehensive income due to disposal of equity securities at FVTOCI | ₩ 0 | [1] | $ 0 | [1] | ₩ 0 | [1] | $ 0 | [1] | ₩ 0 | $ 0 | ₩ 0 | $ 0 | ₩ 0 | $ 0 | ₩ (1,009,000,000) | [1] | $ (907,000) | [1] | ₩ 1,009,000,000 | [1] | $ 907,000 | [1] | ₩ 0 | [1] | $ 0 | [1] | |
[1] | The consolidated statements of changes in equity for the year ended December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of changes in equity for the years ended December 31, 2016 and 2017 were not retrospectively restated in accordance with IFRS 9. | ||||||||||||||||||||||||||
[2] | The consolidated statements of comprehensive income for the year ended December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of comprehensive income for the years ended December 31, 2016 and 2017 were not retrospectively restated in accordance with IFRS 9. |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows | 12 Months Ended | ||||||||
Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | Dec. 31, 2016KRW (₩) | ||||||
Cash flows from operating activities | |||||||||
Net income(expense) | ₩ 2,051,649,000,000 | $ 1,843,516,000 | ₩ 1,530,088,000,000 | ₩ 1,277,533,000,000 | |||||
Adjustments | |||||||||
Income tax expense | 753,223,000,000 | 676,811,000 | 419,418,000,000 | 275,856,000,000 | |||||
Interest income | (9,684,499,000,000) | (8,702,038,000) | (8,550,687,000,000) | (8,512,312,000,000) | |||||
Interest expense | 4,033,548,000,000 | 3,624,358,000 | 3,330,037,000,000 | 3,492,768,000,000 | |||||
Dividend income | (90,552,000,000) | (81,366,000) | (124,992,000,000) | (184,510,000,000) | |||||
Sub-total | (4,988,280,000,000) | (4,482,235,000) | (4,926,224,000,000) | (4,928,198,000,000) | |||||
Additions of expenses not involving cash outflows: | |||||||||
Impairment losses due to credit loss | 329,574,000,000 | 296,140,000 | 785,133,000,000 | 834,076,000,000 | |||||
Loss on valuation of financial instruments at FVTPL | [1] | 0 | 0 | 15,267,000,000 | 0 | ||||
Loss on available-for-sale financial assets | 0 | 0 | 0 | 1,035,000,000 | |||||
Loss on financial assets at FVTOCI | 1,053,000,000 | 946,000 | [1] | 0 | [1] | 0 | [1] | ||
Share of losses of investments in joint ventures and associates | 22,772,000,000 | 20,462,000 | 185,020,000,000 | 56,264,000,000 | |||||
Loss on disposal of investments in joint ventures and associates | 2,931,000,000 | 2,634,000 | 38,713,000,000 | 15,060,000,000 | |||||
Loss on transaction and valuation of derivatives (Designated for hedging) | 36,483,000,000 | 32,782,000 | 109,569,000,000 | 98,981,000,000 | |||||
Loss on hedged items (fair value hedge) | 17,299,000,000 | 15,544,000 | 0 | 475,000,000 | |||||
Loss on provision | 28,350,000,000 | 25,474,000 | 107,028,000,000 | 34,774,000,000 | |||||
Retirement benefits | 142,712,000,000 | 128,234,000 | 142,902,000,000 | 152,609,000,000 | |||||
Depreciation and amortization | 272,550,000,000 | 244,901,000 | 235,795,000,000 | 252,031,000,000 | |||||
Loss on disposal of premises and equipment, intangible assets and other assets | 1,160,000,000 | 1,042,000 | 9,994,000,000 | 9,718,000,000 | |||||
Impairment loss on premises and equipment, intangible assets and other assets | 87,000,000 | 78,000 | 390,000,000 | 1,936,000,000 | |||||
Additions of expenses not involving cash outflows (sub-total) | 854,971,000,000 | 768,237,000 | 1,629,811,000,000 | 1,456,959,000,000 | |||||
Deductions of income not involving cash inflows: | |||||||||
Gain on valuation of financial assets at FVTPL (IFRS 9) | [1] | (215,711,000,000) | (193,828,000) | 0 | 0 | ||||
Gain on valuation of financial instruments at FVTPL (IAS 39) | [1] | 0 | 0 | 0 | (75,690,000,000) | ||||
Gain on redemption of debentures | (1,597,000,000) | (1,435,000) | 0 | 0 | |||||
Gain on financial assets at FVTOCI | [1] | (3,100,000,000) | (2,786,000) | 0 | 0 | ||||
Gain on AFS financial assets | [1] | 0 | 0 | (192,708,000,000) | 0 | ||||
Gain on disposal of securities at amortized cost | [1] | (431,000,000) | (387,000) | 0 | 0 | ||||
Share of gains of investments in joint ventures and associates | (25,791,000,000) | (23,175,000) | (83,506,000,000) | (36,757,000,000) | |||||
Gain on disposal of investments in joint ventures and associates | (50,511,000,000) | (45,387,000) | (39,932,000,000) | (23,457,000,000) | |||||
Gain on transaction and valuation of derivatives (Designated for hedging) | (35,810,000,000) | (32,177,000) | (122,000,000) | (130,000,000) | |||||
Gain on hedged items (fair value hedge) | (42,797,000,000) | (38,455,000) | (53,532,000,000) | (99,302,000,000) | |||||
Reversal on provisions | (2,014,000,000) | (1,810,000) | (2,567,000,000) | (1,396,000,000) | |||||
Gain on disposal of premises and equipment, intangible assets and other assets | (30,278,000,000) | (27,206,000) | (5,028,000,000) | (1,885,000,000) | |||||
Reversal of impairment loss on premises and equipment, intangible assets and other assets | (761,000,000) | (684,000) | (666,000,000) | (3,581,000,000) | |||||
Deductions of income not involving cash inflows (sub-total) | (408,801,000,000) | (367,330,000) | (378,061,000,000) | (242,198,000,000) | |||||
Changes in operating assets and liabilities: | |||||||||
Financial instruments at FVTPL (IFRS 9) | [1] | 670,872,000,000 | 602,814,000 | 0 | 0 | ||||
Financial instruments at FVTPL (IAS 39) | [1] | 0 | 0 | (583,068,000,000) | (99,581,000,000) | ||||
Loans and other financial assets at amortized cost | [1] | (15,718,714,000,000) | (14,124,103,000) | 0 | 0 | ||||
Loans and receivables | 0 | [1] | 0 | [1] | (9,647,563,000,000) | (14,433,390,000,000) | [1] | ||
Other assets | 32,328,000,000 | 29,048,000 | 35,953,000,000 | 219,323,000,000 | |||||
Deposits due to customers | 13,995,747,000,000 | 12,575,925,000 | 13,634,873,000,000 | 11,878,628,000,000 | |||||
Provisions | (11,920,000,000) | (10,711,000) | (122,711,000,000) | 34,376,000,000 | |||||
Net defined benefit liability | (135,313,000,000) | (121,586,000) | (46,789,000,000) | (261,097,000,000) | |||||
Other financial liabilities | 7,411,617,000,000 | 6,659,733,000 | (7,966,786,000,000) | 5,158,055,000,000 | |||||
Other liabilities | 96,900,000,000 | 87,070,000 | (27,550,000,000) | (6,163,000,000) | |||||
Changes in operating assets and liabilities (sub-total) | 6,341,517,000,000 | 5,698,190,000 | (4,723,641,000,000) | 2,490,151,000,000 | |||||
Cash received from (paid for) operating activities: | |||||||||
Interest income received | 9,617,201,000,000 | 8,641,568,000 | 8,570,715,000,000 | 8,511,349,000,000 | |||||
Interest expense paid | (3,847,275,000,000) | (3,456,982,000) | (3,404,608,000,000) | (3,593,358,000,000) | |||||
Dividends received | 90,651,000,000 | 81,455,000 | 127,343,000,000 | 184,674,000,000 | |||||
Income tax paid | (551,560,000,000) | (495,606,000) | (404,428,000,000) | (251,627,000,000) | |||||
Cash received from operating activities | 5,309,017,000,000 | 4,770,435,000 | 4,889,022,000,000 | 4,851,038,000,000 | |||||
Net cash provided by operating activities | 9,160,073,000,000 | 8,230,813,000 | (1,979,005,000,000) | 4,905,285,000,000 | |||||
Cash in-flows from investing activities [Abstract] | |||||||||
Disposal of financial assets at FVTPL (IFRS 9) | [1] | 11,919,335,000,000 | 10,710,158,000 | 0 | 0 | ||||
Disposal of financial assets at FVTOCI | [1] | 9,146,307,000,000 | 8,218,445,000 | 0 | 0 | ||||
Disposal of AFS financial assets | [1] | 0 | 0 | 24,912,752,000,000 | 20,395,744,000,000 | ||||
Redemption of securities at amortized cost | [1] | 9,426,757,000,000 | 8,470,444,000 | 0 | 0 | ||||
Redemption of HTM financial assets | [1] | 0 | 0 | 8,587,092,000,000 | 8,462,346,000,000 | ||||
Disposal of investments in joint ventures and associates | 51,435,000,000 | 46,217,000 | 70,180,000,000 | 97,135,000,000 | |||||
Disposal of subsidiaries | 0 | 0 | 203,000,000 | 0 | |||||
Disposal of investment properties | 3,512,000,000 | 3,156,000 | 418,000,000 | 0 | |||||
Disposal of premises and equipment | 5,545,000,000 | 4,982,000 | 7,428,000,000 | 63,000,000 | |||||
Disposal of intangible assets | 9,199,000,000 | 8,266,000 | 1,188,000,000 | 4,325,000,000 | |||||
Disposal of assets held for sale | 80,347,000,000 | 72,196,000 | 24,808,000,000 | 22,723,000,000 | |||||
Cash in-flows from investing activities (sub-total) | 30,642,437,000,000 | 27,533,864,000 | 33,604,069,000,000 | 28,982,336,000,000 | |||||
Cash out-flows from investing activities [Abstract] | |||||||||
Net cash in-flows of business combination | (134,967,000,000) | (121,275,000) | 0 | (132,301,000,000) | |||||
Acquisition of financial assets at FVTPL (IFRS 9) | [1] | (12,322,160,000,000) | (11,072,118,000) | 0 | 0 | ||||
Acquisition of financial assets at FVTOCI | [1] | (13,275,429,000,000) | (11,928,681,000) | 0 | 0 | ||||
Acquisition of available-for-sale financial assets | [1] | 0 | 0 | (19,674,346,000,000) | (23,844,849,000,000) | ||||
Acquisition of securities at amortized cost | [1] | (15,622,847,000,000) | (14,037,961,000) | 0 | 0 | ||||
Acquisition of HTM financial assets | [1] | 0 | 0 | (11,521,065,000,000) | (8,818,376,000,000) | ||||
Acquisition of investments in joint ventures and associates | (48,272,000,000) | (43,375,000) | (143,161,000,000) | (43,281,000,000) | |||||
Acquisition of investment properties | (15,195,000,000) | (13,654,000) | (9,872,000,000) | (4,428,000,000) | |||||
Acquisition of premises and equipment | (118,668,000,000) | (106,630,000) | (162,245,000,000) | (131,009,000,000) | |||||
Acquisition of intangible assets | (176,067,000,000) | (158,206,000) | (195,929,000,000) | (191,161,000,000) | |||||
Cash out-flow related to derivatives designated for hedging | 0 | 0 | (13,742,000,000) | (42,544,000,000) | |||||
Cash out-flows from investing activities (sub-total) | (41,713,605,000,000) | (37,481,900,000) | (31,720,360,000,000) | (33,207,949,000,000) | |||||
Net cash provided by (used in) investing activities | (11,071,168,000,000) | (9,948,036,000) | 1,883,709,000,000 | (4,225,613,000,000) | |||||
Cash in-flows from financing activities [Abstract] | |||||||||
Increase in borrowings | 9,606,126,000,000 | 8,631,617,000 | 9,057,999,000,000 | 8,259,380,000,000 | |||||
Issuance of debentures | 21,505,849,000,000 | 19,324,152,000 | 18,438,221,000,000 | 15,848,055,000,000 | |||||
Issuance of hybrid securities | 398,707,000,000 | 358,259,000 | 559,565,000,000 | 549,904,000,000 | |||||
capital increase of subsidiaries | 0 | 0 | 35,841,000,000 | 0 | |||||
Cash in-flows from financing activities (sub-total) | 31,510,682,000,000 | 28,314,028,000 | 28,091,626,000,000 | 24,657,339,000,000 | |||||
Cash out-flows from financing activities [Abstract] | |||||||||
Repayment of borrowings | (8,349,005,000,000) | (7,502,026,000) | (12,692,883,000,000) | (9,524,626,000,000) | |||||
Repayment of debentures | (20,903,518,000,000) | (18,782,926,000) | (13,620,520,000,000) | (14,118,720,000,000) | |||||
Payment of dividends to common stocks | (336,636,000,000) | (302,485,000) | (336,636,000,000) | (168,317,000,000) | |||||
Dividends paid on hybrid securities | (147,625,000,000) | (132,648,000) | (177,730,000,000) | (201,328,000,000) | |||||
Redemption of hybrid securities | (255,000,000,000) | (229,131,000) | (1,323,400,000,000) | (310,000,000,000) | |||||
Dividends paid on non-controlling interests | (2,128,000,000) | (1,912,000) | (1,554,000,000) | (1,286,000,000) | |||||
Cash out-flows from financing activities (sub-total) | (29,993,912,000,000) | (26,951,128,000) | (28,152,723,000,000) | (24,324,277,000,000) | |||||
Net cash provided by (used) in financing activities | 1,516,770,000,000 | 1,362,900,000 | (61,097,000,000) | 333,062,000,000 | |||||
Net increase (decrease) in cash and cash equivalents | (394,325,000,000) | (354,323,000) | (156,393,000,000) | 1,012,734,000,000 | |||||
Cash and cash equivalents, beginning of the period | 6,908,286,000,000 | 6,207,463,000 | 7,591,324,000,000 | 6,644,055,000,000 | |||||
Effects of exchange rate changes on cash and cash equivalents | 233,933,000,000 | 210,203,000 | (526,645,000,000) | (65,465,000,000) | |||||
Cash and cash equivalents, end of the period | ₩ 6,747,894,000,000 | $ 6,063,343,000 | ₩ 6,908,286,000,000 | ₩ 7,591,324,000,000 | |||||
[1] | The consolidated statements of cash flows for the year ended December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of cash flows for the years ended December 31, 2016 and 2017 were not retrospectively restated to apply IFRS 9. |
General
General | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of notes and other explanatory information [Abstract] | |
General | 1. GENERAL (1) Summary of the parent company Effective as of January 11, 2019, Woori Financial Group Inc. (“Woori Financial Group”) was established as the financial holding company of Woori Bank (hereinafter referred to as the “Bank” or “Woori Bank”), and Woori Bank became a wholly-owned subsidiary of Woori Financial Group, pursuant to a “comprehensive stock transfer” under Article 360-15 12g-3(a) 12g-3(a). (001-31811). As part of the comprehensive stock transfer as of January 11, 2019, Woori Bank became a wholly owned subsidiary of Woori Financial Group and transferred the ownership of five of its subsidiaries to Woori Financial Group. These companies were Woori FIS Co., Ltd., Woori Finance Research Institute Co., Ltd., Woori Credit Information Co., Ltd., Woori Fund Service Co., Ltd., Woori Private Equity Asset Management Co., Ltd.. As a result, Woori Financial Group prepared these consolidated financial statements including the operations of its predecessor entities Woori Bank, Woori FIS Co., Ltd., Woori Finance Research Institute Co., Ltd., Woori Credit Information Co., Ltd., Woori Fund Service Co., Ltd., Woori Private Equity Asset Management Co., Ltd. and its consolidated subsidiaries. Woori Financial Group, which is a controlling entity in accordance with International Financial Reporting standards (“IFRS”) 10— Consolidated Financial Statements Previously, Woori Finance Holdings Co., Ltd. (established on March 27, 2001 in accordance with Financial Holding Companies Act), the former holding company of Woori Financial Group, held a 100% ownership of the Bank. Effective from November 1, 2014, Woori Finance Holdings Co., Ltd. completed its merger (the “Merger”) with and into the Bank. Accordingly, the shares of the Bank, 597 million shares, prior to the merger, was reduced to nil in accordance with capital reduction procedure, and then, in accordance with the merger ratio, the Bank newly issued 676 million shares. As a result, the paid-in On June 24, 2002, Woori Finance Holdings Co., Ltd. listed its common stock on the Korea Exchange through public offering. In addition, on September 29, 2003, Woori Finance Holdings Co., Ltd. registered with the Securities and Exchange Commission in the United States of America and, on the same day, listed its American Depositary Shares on the New York Stock Exchange. As Woori Finance Holdings Co., Ltd. was merged into the Bank, the Bank, which is the existing company, succeeded such rights and obligations as a listed company on the Korea Exchange and the New York Stock Exchange. As a result of such merger, the Bank incorporated Woori Card Co., Ltd., Woori Investment Bank Co., Ltd., Woori FIS Co., Ltd., Woori Private Equity Asset Management Co., Ltd. and Woori Finance Research Institute Co., Ltd. as its subsidiaries. The headquarters of the Bank is located at 51, Sogong-ro, Jung-gu, (2) The consolidated financial statements for Woori Financial Group Inc. and its subsidiaries (the “Group”) include the following subsidiaries: Percentage of ownership (%) Location Financial as of (2018) Subsidiaries Main business December 31, December 31, Woori Bank: Woori FIS Co., Ltd. System software 100.0 100.0 Korea December 31 Woori Private Equity Asset Management Co., Ltd. Finance 100.0 100.0 Korea December 31 Woori Finance Research Institute Co., Ltd. Other service business 100.0 100.0 Korea December 31 Woori Card Co., Ltd. Finance 100.0 100.0 Korea December 31 Woori Investment Bank Co., Ltd. Other credit finance 59.8 59.8 Korea December 31 Woori Credit Information Co., Ltd. Credit information 100.0 100.0 Korea December 31 Woori America Bank Finance 100.0 100.0 U.S.A. December 31 Woori Global Markets Asia Limited ” 100.0 100.0 Hong Kong December 31 Woori Bank China Limited ” 100.0 100.0 China December 31 AO Woori Bank ” 100.0 100.0 Russia December 31 PT Bank Woori Saudara Indonesia 1906 Tbk ” 79.9 79.9 Indonesia December 31 Banco Woori Bank do Brasil S.A. ” 100.0 100.0 Brazil December 31 Korea BTL Infrastructure Fund ” 99.9 99.9 Korea December 31 Woori Fund Service Co., Ltd. ” 100.0 100.0 Korea December 31 Woori Finance Cambodia PLC. ” 100.0 100.0 Cambodia December 31 Woori Finance Myanmar Co., Ltd. ” 100.0 100.0 Myanmar December 31 Wealth Development Bank ” 51.0 51.0 Philippines December 31 Woori Bank Vietnam Limited ” 100.0 100.0 Vietnam December 31 WB Finance Co., Ltd. (*5) ” — 100.0 Cambodia December 31 Woori Bank Europe (*5) ” — 100.0 Germany December 31 Kumho Trust First Co., Ltd. (*1) Asset securitization 0.0 0.0 Korea December 31 Asiana Saigon Inc. (*1) ” 0.0 0.0 Korea December 31 Consus Eighth Co., LLC (*4) ” 0.0 — Korea — KAMCO Value Recreation First Securitization Specialty Co., Ltd. (*1) ” 15.0 15.0 Korea December 31 Hermes STX Co., Ltd. (*1) ” 0.0 0.0 Korea December 31 BWL First Co., LLC (*1) ” 0.0 0.0 Korea December 31 Deogi Dream Fourth Co., Ltd. (*1) ” 0.0 0.0 Korea December 31 Jeonju Iwon Ltd. (*1) ” 0.0 0.0 Korea December 31 Wonju I one Inc. (*1) ” 0.0 0.0 Korea December 31 Heitz Third Co., Ltd. (*1) ” 0.0 0.0 Korea December 31 Woorihansoop 1st Co., Ltd. (*1) ” 0.0 0.0 Korea December 31 Electric Cable First Co., Ltd. (*1) ” 0.0 0.0 Korea December 31 Woori International First Co., Ltd. (*1) ” 0.0 0.0 Korea December 31 Woori HJ First Co., Ltd. (*4) ” 0.0 — Korea — Woori WEBST 1st Co., Ltd. (*1) ” 0.0 0.0 Korea December 31 Wibihansoop 1st Co., Ltd. (*1) ” 0.0 0.0 Korea December 31 HNLD 1st Inc. (*4) ” 0.0 — Korea — Uri QS 1st Co., Ltd. (*1) ” 0.0 0.0 Korea December 31 Uri Display 1st Co., Ltd. (*1) ” 0.0 0.0 Korea December 31 Tiger Eyes 2nd Co., Ltd. (*1) ” 0.0 0.0 Korea December 31 Woori Serveone 1st Co., Ltd. (*1) ” 0.0 0.0 Korea December 31 Uri Display 2nd Co.,Ltd. (*1) ” — 0.0 Korea December 31 Woori the Colony Unjung Securitization Specialty Co., Ltd. (*1) ” — 0.0 Korea December 31 Woori Dream 1st Co., Ltd. (*1) ” — 0.0 Korea December 31 Woori Dream 2nd Co., Ltd. (*1) ” — 0.0 Korea December 31 Woori H 1st Co., Ltd. (*1) ” — 0.0 Korea December 31 Woori HS 1st Co., Ltd. (*1) ” — 0.0 Korea December 31 Woori HS 2nd Co., Ltd. (*1) ” — 0.0 Korea December 31 Woori Sinnonhyeon 1st Inc. (*1) ” — 0.0 Korea December 31 Woori K 1st Co.,Ltd. (*1) ” — 0.0 Korea December 31 Uri S 1st Co.,Ltd. ( 1) ” — 0.0 Korea December 31 Smart Casting Inc. ( 1) ” — 0.0 Korea December 31 G5 Pro Short-term Bond Investment Fund 13 ( 2) Securities investment and 100.0 100.0 Korea December 31 Heungkuk Global Private Placement Investment Trust No. 1 ( 2) ” — 98.5 Korea December 31 HeungkukWoori Tech Company Private Placement Investment Trust No. 1 ( 2) ” 98.0 98.0 Korea December 31 AI Partners Water Supply Private Placement Investment Trust No.2 ( 2) ” — 97.3 England December 31 Consus Sakhalin Real Estate Investment Trust 1st ( 2) ” 75.0 75.0 Korea December 31 Principle Guaranteed Trust ( 3) Trust 0.0 0.0 Korea December 31 Principle and Interest Guaranteed Trust ( 3) ” 0.0 0.0 Korea December 31 Woori Investment Bank: Dongwoo First Securitization Specialty Co., Ltd. ( 1) Asset securitization 5.0 5.0 Korea December 31 Seari First Securitization Specialty Co., Ltd. ( 1) ” 5.0 5.0 Korea December 31 Seari Second Securitization Specialty Co., Ltd. ( 1) ” — 5.0 Korea December 31 Namjong 1st Securitization Specialty Co., Ltd. ( 1) ” 5.0 5.0 Korea December 31 Bukgeum First Securitization Specialty Co., Ltd. ( 1) ” 5.0 5.0 Korea December 31 Bukgeum Second Securitization Specialty Co., Ltd. ( 1) ” — 5.0 Korea December 31 Woori Card Co., Ltd.: TUTU Finance-WCI Finance 100.0 100.0 Myanmar December 31 Woori Card one of 2017-1 ( 1) Asset securitization 0.5 0.5 Korea December 31 Woori Card one of 2017-2 ( 1) ” 0.5 0.5 Korea December 31 Woori Card one of 2018-1 ( 1) ” — 0.5 Korea December 31 (*1) The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. (*2) The entity is a structured entity for the purpose of investment in securities and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. (*3) The entity is a ‘money trust’ under the Financial Investment Services and Capital Markets Act and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. (*4) The entity was removed from the list of subsidiaries as the control over the entity was lost during the current period. (*5) The entity was included in the list of subsidiaries as the Bank acquired more than 50% of the ownership interest. (3) The Group has not consolidated the following entities as of December 31, 2017 and 2018 despite having more than 50% ownership interest: As of December 31, 2017 Subsidiaries Location Main Business Percentage of Golden Bridge NHN Online Private Equity Investment (*) Korea Securities Investment 60.0 Mirae Asset Maps Clean Water Private Equity Investment Trust 7th (*) Korea Securities Investment 59.7 Kiwoom Yonsei Private Equity Investment Trust (*) Korea Securities Investment 88.9 Hana Walmart Real Estate Investment Trust 41-1 (*) Korea Securities Investment 90.1 IGIS Global Private Placement Real Estate Fund No. 148-1 (*) Korea Securities Investment 75.0 IGIS Global Private Placement Real Estate Fund No. 148-2 (*) Korea Securities Investment 75.0 As of December 31, 2018 Subsidiaries Location Main Business Percentage of Golden Bridge NHN Online Private Equity Investment (*) Korea Securities Investment 60.0 Mirae Asset Seobu Underground Expressway Professional Investment (*) Korea Securities Investment 65.8 Mirae Asset Maps Clean Water Private Equity Investment Trust 7th (*) Korea Securities Investment 59.7 Kiwoom Yonsei Private Equity Investment Trust (*) Korea Securities Investment 88.9 Hana Walmart Real Estate Investment Trust 41-1 (*) Korea Securities Investment 89.6 IGIS Europe Private Placement Real Estate Fund No. 163-2 (*) Korea Securities Investment 97.9 IGIS Global Private Placement Real Estate Fund No. 148-1 (*) Korea Securities Investment 75.0 IGIS Global Private Placement Real Estate Fund No. 148-2 (*) Korea Securities Investment 75.0 KB Nongso Sewage Treatment Equipment Private Special Asset (*) Korea Securities Investment 50.0 Mirae Asset Seoul Ring Expressway Private Special Asset Fund No. 1 (*) Korea Securities Investment 66.2 Hangkang Sewage Treatment Plant Fund (*) Korea Securities Investment 55.6 Consus KyungJu Green Private Placement Real Estate Fund No. 1 (*) Korea Securities Investment 52.4 (*) Since the investee is a private equity investment fund, the Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. (4) The summarized financial information of the major subsidiaries are as follows. The financial information of each subsidiary was prepared on the basis of consolidated financial statements. (Unit: Korean Won in millions): As of and for the year ended December 31, 2017 Assets Liabilities Operating revenue Net income (loss) Comprehensive Woori FIS Co., Ltd. 103,932 71,386 252,460 1,940 (2,963 ) Woori Private Equity Asset Management Co., Ltd. 42,894 2,670 7,257 (4,114 ) (4,074 ) Woori Finance Research Institute Co., Ltd. 3,790 350 4,733 83 64 Woori Card Co., Ltd. 8,605,993 6,973,705 1,771,157 101,214 107,321 Woori Investment Bank Co., Ltd. 1,880,157 1,588,610 183,376 20,023 20,210 Woori Credit Information Co., Ltd. 33,298 6,175 31,580 861 752 Woori America Bank 1,954,301 1,679,248 81,337 11,869 (16,833 ) Woori Global Markets Asia Limited 290,226 178,343 11,345 1,922 (12,544 ) Woori Bank China Limited 4,960,637 4,458,683 388,913 13,809 (15,252 ) AO Woori Bank 201,704 149,101 15,656 4,748 1,217 PT Bank Woori Saudara Indonesia 1906 Tbk 2,230,617 1,745,171 192,485 38,488 (18,689 ) Banco Woori Bank do Brasil S.A. 213,889 181,544 20,455 1,843 (2,840 ) Korea BTL Infrastructure Fund 786,480 301 30,240 26,390 26,390 Woori Fund Service Co., Ltd. 12,653 1,242 9,021 1,398 1,398 Woori Finance Cambodia PLC. 51,304 32,873 5,895 983 (473 ) Woori Finance Myanmar Co., Ltd. 18,236 5,307 2,506 791 15 Wealth Development Bank 191,049 156,808 13,632 1,323 (1,093 ) Woori Bank Vietnam Limited 775,758 632,160 29,698 2,436 (15,347 ) Money trust under the FISCM Act 1,560,672 1,530,760 44,344 582 582 Structured entity for the securitization of financial assets 867,583 1,275,719 22,730 1,179 (2,800 ) Structured entity for the investments in securities 34,939 76 377 (475 ) (38,592 ) As of and for the year ended December 31, 2018 Assets Liabilities Operating revenue Net income (loss) Comprehensive Woori FIS Co., Ltd. 96,260 63,412 271,651 2,840 269 Woori Private Equity Asset Management Co., Ltd. 38,820 1,439 1,713 (2,794 ) (2,843 ) Woori Finance Research Institute Co., Ltd. 3,891 560 4,708 7 (109 ) Woori Card Co., Ltd. 9,987,057 8,305,093 1,371,301 114,767 106,517 Woori Investment Bank Co., Ltd. 2,682,660 2,367,418 205,446 25,552 25,533 Woori Credit Information Co., Ltd. 34,921 6,386 36,883 1,657 1,411 Woori America Bank 2,182,454 1,878,117 90,975 20,510 32,335 Woori Global Markets Asia Limited 517,627 396,216 18,748 5,144 9,647 Woori Bank China Limited 5,470,927 4,953,813 366,973 21,879 19,194 AO Woori Bank 305,521 256,260 19,433 5,163 (3,234 ) PT Bank Woori Saudara Indonesia 1906 Tbk 2,355,975 1,853,768 192,719 40,385 27,109 Banco Woori Bank do Brasil S.A. 179,130 149,146 13,971 1,262 (2,326 ) Korea BTL Infrastructure Fund 777,437 299 29,760 26,057 26,057 Woori Fund Service Co., Ltd. 14,448 1,440 10,052 1,597 1,597 Woori Finance Cambodia PLC. 93,239 71,133 11,038 2,826 3,676 Woori Finance Myanmar Co., Ltd. 19,340 6,886 4,496 640 (1,256 ) Wealth Development Bank 218,134 184,344 13,668 80 (451 ) Woori Bank Vietnam Limited 954,580 720,554 48,716 10,710 13,618 WB Finance Co., Ltd. 268,794 225,655 24,310 2,421 2,329 Woori Bank Europe 58,399 311 5 (5,959 ) (5,974 ) Money trust under the FISCM Act 1,582,765 1,552,594 54,860 259 259 Structured entity for the securitization of financial assets 1,369,745 1,786,869 53,578 4,990 (5,681 ) Structured entity for the investments in securities 63,676 142 1,826 (1,299 ) (3,009 ) (5) The financial support that the Group provides to consolidated structured entities is as follows: • Structured entity for asset securitization The structured entity is established for the purpose of securitization of project financing loans, corporate bonds, and other financial assets. The Group is involved with the structured entity through providing with credit facility over asset-backed commercial papers issued by the entity, originating loans directly to the structured entity, or purchasing 100% of the subordinated debts issued by the structured entity. • Structured entity for the investments in securities The structured entity is established for the purpose of investments in securities. The Group acquires beneficiary certificates through its contribution of fund to the structured entity, and it is exposed to the risk that it may not be able to recover its fund depending on the result of investment performance of asset managers of the structured entity. • Money trust under the Financial Investment Services and Capital Markets Act The Group provides with financial guarantee of principal and interest or solely principal to some of its trust products. Due to the financial guarantees, the Group may be obliged when the principal and interest or principal of the trust product sold is short of the guaranteed amount depending on the result of investment performance of the trust product. (6) The Group has entered into various agreements with structured entities such as asset securitization, structured finance, investment fund, and monetary trust. The characteristics and the nature of risks related to unconsolidated structured entities over which the Group does not have control in accordance with IFRS 10 are as follows: The ownership interests on unconsolidated structured entities that the Group hold are classified into asset securitization vehicles, structured finance and investment fund, based on the nature and the purpose of the structured entities. Unconsolidated structured entities classified as ‘asset securitization vehicles’ are entities that issue asset-backed securities, pay the principal and interest or distributes dividends on asset-backed securities through borrowings or profits from the management, operation and sale of securitized assets. The Group transfers related risks from the purchase commitments of asset-backed securities or issuance of asset-backed securities through credit grants, and the structured entities recognize related interest or fee revenue. There are entities that provide additional fund and conditional debt acquisition commitment before the Group’s financial support, but the Group is still exposed to losses arising from the purchase of financial assets issued by the structured entities when it fails to renew the securities. Unconsolidated structured entities classified as ‘structured financing’ include real estate project financing investment vehicle, social overhead capital companies, and special purpose vehicles for ship (aircraft) financing. Each entity is incorporated as a separate company with a limited purpose in order to efficiently pursue business goals. ‘Structured financing’ is a financing method for large-scale risky business, with investments made based on feasibility of the specific business or project, instead of credit of business owner or physical collaterals. The investors receive profits from the operation of the business. The Group recognizes interest revenue, valuation gain or loss on ownership interest, or dividend income. With regard to uncertainties involving structured financing, there are entities that provide financial support such as additional fund, guarantees and prioritized credit grants prior to the Group’s intervention, but the Group is exposed to possible losses due to loss of principal from reduction in investment value or irrecoverable loans arising from failure to collect scheduled cash flows and cessation of projects. Unconsolidated structured entities classified as ‘investment funds’ include investment trusts and private equity funds. An investment trust orders the investment and operation of funds to the trust manager in accordance with trust contract with profits distributed to the investors. Private equity funds finances money required to acquire equity securities to enable direction of management and/or improvement of ownership structure, with profit distributed to the investors. The Group recognizes pro rata amount of valuation gain or loss on investment and dividend income as an investor, and may be exposed to losses due to reduction in investment value. Total assets of the unconsolidated structured entities, the carrying value of the related items recorded, the maximum exposure to risks, and the loss recognized in conjunction with the unconsolidated structured entities as of December 31, 2017 and 2018 are as follows (Unit: Korean Won in millions): December 31, 2017 Asset Structured Investment Funds Total asset of the unconsolidated structured entities 7,295,601 40,172,830 13,641,135 Assets recognized in the consolidated financial statements related to the unconsolidated structured entities 3,215,159 2,314,043 1,138,523 Financial assets held for trading — 233,428 10,160 AFS financial assets 902,390 106,819 904,774 HTM financial assets 2,269,451 — — Loans and receivables 43,180 1,969,760 — Investments in joint ventures and associates — — 223,589 Derivative assets 138 4,036 — Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities 1,433 1,506 — Derivative liabilities 575 968 — Other liabilities (including provisions) 858 538 — The maximum exposure to risks 4,032,531 2,918,448 1,138,523 Investments 3,215,159 2,314,043 1,138,523 Credit facilities 817,372 604,405 — Loss recognized on unconsolidated structured entities 837 3,939 5,993 December 31, 2018 Asset Structured Investment Funds Total asset of the unconsolidated structured entities 6,796,235 58,161,494 11,138,822 Assets recognized in the consolidated financial statements related to the unconsolidated structured entities 2,571,835 2,831,842 1,530,767 Financial assets at FVTPL 285,156 70,219 1,197,844 Financial assets at FVTOCI 281,919 48,961 — Financial assets at amortized cost 2,003,921 2,511,055 71,150 Investments in joint ventures and associates — 197,393 261,773 Derivative assets 839 4,214 — Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities 1,260 905 — Derivative liabilities 116 248 — Other liabilities (including provisions) 1,144 657 — The maximum exposure to risks 3,252,329 3,408,271 1,587,325 Investments 2,571,835 2,831,842 1,530,767 Credit facilities 680,494 576,429 56,558 Loss recognized on unconsolidated structured entities 5,764 11,609 13,868 (7) The share of non-controlling non-controlling 1) Accumulated non-controlling December 31, 2017 December 31, 2018 Woori Investment Bank 119,111 130,088 PT Bank Woori Saudara Indonesia 1906 Tbk 64,877 68,250 Wealth Development Bank 16,778 16,557 2) Net income or loss attributable to non-controlling For the year ended December 31 2016 2017 2018 Woori Investment Bank 9,990 8,370 10,262 PT Bank Woori Saudara Indonesia 1906 Tbk 6,383 8,882 8,126 Wealth Development Bank 611 648 39 3) Dividends to non-controlling For the year ended December 31 2016 2017 2018 PT Bank Woori Saudara Indonesia 1906 Tbk 1,242 1,513 2,082 |
Basis of preparation and signif
Basis of preparation and significant accounting policies | 12 Months Ended |
Dec. 31, 2018 | |
Accounting policies [Abstract] | |
Basis of preparation and significant accounting policies | 2. BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (1) Basis of presentation The Woori Financial Group Inc. and its subsidiaries (the “Group”)’s consolidated financial statements are prepared in accordance with Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). The Group operates primarily in Korea and its official accounting records are maintained in Korean Won. The United States dollar (“U.S. dollar” or “US$” or “USD”) amounts are provided herein as supplementary information solely for the convenience of readers outside Korea. Korean Won amounts are expressed in U.S. Dollars at the rate of 1,112.9 Korean Won to US$1.00, the noon buying exchange rate in effect on December 31, 2018, as quoted by the Federal Reserve Bank of New York in the United States. Such convenience translation into U.S. Dollars should not be construed as representations that Korean Won amounts have been, could have been, or could in the future be, converted at this or any other rate of exchange. The significant accounting policies applied in the preparation of consolidated financial statements as of and for the year ended December 31, 2018 are stated below, and the accounting policies applied are identical to ones used in the preparation of previous period’s consolidated financial statements, except for the effects of adopting new standards or interpretations as explained below. The consolidated financial statements are prepared at the end of each reporting period in historical cost basis, except for certain non-current The consolidated financial statements for the Group was authorized for issue by the management on April 26, 2019. 1) The standards and interpretations that are newly adopted by the Group during the current period, and the changes in accounting policies thereof are as follows: • Adoption of IFRS 9— Financial instruments The Group initially applied IFRS 9 and related amendments made to other standards during the current period, with January 1, 2018 as the date of initial application. IFRS 9 introduces new rules on: 1) classification and measurement of financial assets and financial liabilities, 2) impairment of financial assets, and 3) hedge accounting. Additionally, the Group adopted consequential amendments to IFRS 7 Financial Instruments: Disclosures that were applied to the disclosures for 2018. The Group decided not to restate the prior period figures when applying the Standard for the first time, and as such the comparative consolidated financial statements are not restated. The main contents of the new accounting standard and the effect on the consolidated financial statements of the Group are as follows. a) Classification and measurement of financial assets All financial assets included in the scope of IFRS 9 are subsequently measured at amortized cost or fair value based on the Group’s business model for the management of financial assets and the nature of the contractual cash flows of the financial assets. Debt instruments that are held within a business model whose objective is to collect the contractual cash flows, and that have contractual cash flows that are solely payments of principal and interest on the principal outstanding are generally measured at amortized cost at the end of subsequent accounting periods (Financial assets at amortized cost). Debt instruments that are held within a business model whose objective is achieved both by collecting contractual cash flows and selling financial assets, and that have contractual cash flows that are solely payments of principal and interest on the principal outstanding are generally measured at fair value through other comprehensive income (Financial assets at fair value through other comprehensive income (“FVTOCI”)). All other debt instruments and equity instruments are measured at their fair value at the end of subsequent accounting periods, and any change in the fair value is recognized as profit or loss (Financial assets at fair value through profit or loss (“FVTPL”)). Notwithstanding the foregoing, the Group may make the following irrevocable choice or designation at the time of initial recognition of a financial asset. The Group may make an irrevocable election to present in other comprehensive income subsequent changes in the fair value of an investment in an equity instrument within the scope of this standard that is neither held for trading nor is a contingent consideration recognized by an acquirer in a business combination to which IFRS 3(R) applies. At initial recognition, financial assets at amortized cost or FVTOCI may be irrevocably designated as financial assets at fair value through profit or loss mandatorily measured at fair value if doing so eliminate or significantly reduce a measurement or recognition inconsistency. As of the date of initial application of IFRS 9, there are no debt instruments classified either as financial assets at amortized cost or FVTOCI that are designated as financial assets at fair value through profit or loss. When debt instruments measured at FVTOCI are derecognized, the cumulative gain or loss recognized in other comprehensive income is reclassified from equity to profit or loss as a reclassification adjustment. On the other hand, for equity instruments designated as financial assets at fair value through other comprehensive income, cumulative gains or losses previously recognized in other comprehensive income are not subsequently reclassified to retained earnings. Debt instruments measured subsequently at amortized cost or at FVTOCI are subject to impairment. The classification and measurement of financial assets and liabilities in accordance with IFRS 9 and IAS 39 as of January 1, 2018 are as follows (Unit: Korean Won in millions): Classification in IAS 39 Classification in IFRS 9 Amount in IAS 39 Reclassification Remeasurement (*2) Amount in Deposit Loans and receivables Loan and other financial assets at amortized cost 8,870,835 — — 8,870,835 Deposit Financial assets at FVTPL Financial assets at FVTPL 25,972 — — 25,972 Debt securities Financial assets at FVTPL Financial assets at FVTPL (*1) 2,654,027 — — 2,654,027 Equity securities Financial assets at FVTPL Financial assets at FVTPL (*1) 47,304 — — 47,304 Derivative assets Financial assets at FVTPL Financial assets at FVTPL (*1) 3,115,775 (2,137 ) — 3,113,638 Equity securities AFS financial assets Financial assets at FVTPL (*1) 1,273,498 1,219 — 1,274,717 Equity securities AFS financial assets Financial assets at FVTOCI 850,207 — — 850,207 Debt securities AFS financial assets Financial assets at FVTPL 46,855 — — 46,855 Debt securities AFS financial assets Financial assets at FVTOCI 12,874,209 — — 12,874,209 Debt securities AFS financial assets Securities at amortized cost 308,181 — 14,119 322,300 Debt securities HTM financial assets Securities at amortized cost 16,749,296 — — 16,749,296 Loans Loans and receivables Financial assets at FVTPL (*1) 279,032 918 50 280,000 Loans Loans and receivables Loan and other financial assets at amortized cost 253,014,491 — — 253,014,491 Derivative assets (Designated for hedging) Derivative assets (Designated for hedging) Derivative assets (Designated for hedging) 59,272 — — 59,272 Other financial assets Loans and receivables Loan and other financial assets at amortized cost 6,772,088 — — 6,772,088 Total financial assets 306,941,042 — 14,169 306,955,211 Deposit due to customers Financial liabilities at FVTPL Financial liabilities at FVTPL 25,964 — — 25,964 Deposit due to customers Financial liabilities at amortized cost Financial liabilities at amortized cost 234,695,084 — — 234,695,084 Borrowings Financial liabilities at amortized cost Financial liabilities at amortized cost 14,784,706 — — 14,784,706 Debentures Financial liabilities at FVTPL Financial liabilities at FVTPL 91,739 — — 91,739 Debentures Financial liabilities at amortized cost Financial liabilities at amortized cost 27,869,651 — — 27,869,651 Equity-linked securities Financial liabilities at FVTPL Financial liabilities at FVTPL 160,057 — — 160,057 Derivatives liabilities Financial liabilities at FVTPL Financial liabilities at FVTPL 3,150,149 — — 3,150,149 Derivatives liabilities (Designated for hedging) Derivatives liabilities (Designated for hedging) Derivatives liabilities (Designated for hedging) 67,754 — — 67,754 Other financial liabilities Financial liabilities at amortized cost Financial liabilities at amortized cost 13,892,461 — — 13,892,461 Provision for financial guarantee Provision Financial liabilities at amortized cost 71,697 — — 71,697 Total financial liabilities 294,809,262 — — 294,809,262 (*1) Under IAS 39, the embedded derivatives out of hybrid financial instruments were accounted for as derivative assets or liabilities if the criteria for separation of the embedded derivatives were met; and the host contracts in those instruments were recorded as available-for-sale (*2) The remeasurement effect due to expected credit losses is not included (The remeasurement effect of expected credit losses is as follows: b) Impairment of financial assets). At the date of the initial application of IFRS 9, there were no financial assets or liabilities measured at FVTPL that were reclassified to FVTOCI or amortized cost category. The financial assets at FVTPL or FVTOCI that are reclassified to the amortized cost measurement category as of the date of initial application of IFRS 9, and the related valuation gain or loss and fair value of the financial assets as of December 31, 2018 had it not been reclassified, are as follows (Unit: Korean Won in millions): Account subject Category before the adoption of Amount of valuation gain/loss Fair value Debt securities (*) AFS financial assets 2 257,665 (*) Those financial assets that are removed from the books as of December 31, 2018 are not presented in the table above. b) Impairment of financial assets The impairment model under IFRS 9 reflects expected credit losses, as opposed to incurred credit losses under IAS 39. Under the impairment approach in IFRS 9, it is no longer necessary for a credit event to have occurred before credit losses are recognized. Instead, the Group accounts for expected credit losses and changes in those expected credit losses. The amount of expected credit losses should be updated at each reporting date to reflect changes in credit risk since initial recognition. The Group is required to recognize the expected credit losses for financial instruments measured at amortized cost or FVTOCI (debt instrument), and unused loan commitments and financial guarantee contracts that are subject to the impairment provisions of IFRS 9. In particular, IFRS 9 requires the Group to measure the loss allowance for a financial instrument at an amount equal to the lifetime expected credit losses (ECL) if the credit risk on that financial instrument has increased significantly since initial recognition, or if the financial instrument is a purchased or originated credit-impaired financial asset. If the credit risk of a financial instruments does not increase significantly after initial recognition (excluding “purchased or originated credit-impaired loans”—for financial assets already impaired at initial recognition), the Group measures the loss allowance on the financial instruments at the amount equivalent to the expected 12-month Management assessed the impairment of the Group’s financial assets, lending arrangements and financial guarantees at the date of initial application by using reasonable and supportive measures that can be used without undue cost or effort in determining the credit risk of the financial instruments at initial recognition in accordance with IFRS 9 and in comparing above credit risk with the credit risk at the date of initial application. As of January 1, 2018, the results of the assessment are as follows (Unit: Korean Won in millions): Classification in IAS 39 Classification in Loss allowance Loss allowance Increases (B-A) Deposit Loans and receivables Loans and other financial assets at amortized cost 2,458 3,092 634 Debt securities AFS securities AFS financial assets Financial assets at FVTOCI — 4,236 4,236 HTM securities HTM financial assets Securities at amortized cost — 5,078 5,078 Loans and other financial assets Loans and receivables Loans and other financial assets at amortized cost 1,827,785 2,076,873 249,088 Payment guarantee 183,247 192,924 9,677 Loan commitment 66,115 104,985 38,870 Total 2,079,605 2,387,188 307,583 c) Classification and measurement of financial liabilities One of the major changes related to the classification and measurement of financial liabilities as a result of the adoption of IFRS 9 is the accounting for change in the fair value of financial liabilities designated as at fair value through profit or loss due to the changes in issuer’s own credit risk. The Group recognizes the effect of changes in the credit risk of financial liabilities designated as at FVTOCI in other comprehensive income, except for cases where it creates or enlarges accounting mismatch of the profit or loss. Changes in fair value due to credit risk of financial liabilities are not subsequently reclassified to profit or loss, but are reclassified as retained earnings when financial liabilities are derecognized. In accordance with IAS 39, the entire of changes in fair value of financial liabilities designated as at FVTPL are recognized in profit or loss. As of January 1, 2018, the Group designated 251,796 million Korean Won of FVTPL out of 294,813,795 million of financial liabilities to be measured at FVTPL, and recognized 133 million Korean Won as accumulated other comprehensive loss in relation to the changes in own credit risk of financial liabilities. d) Hedge accounting The new hedge accounting model maintains three types of hedge accounting. However, it introduced more flexibility in the types of transactions that are eligible for hedge accounting and expanded the types of hedging instruments and non-financial In accordance with the transitional provisions of IFRS 9 on hedge accounting, the Group adopted the hedge accounting provisions of IFRS 9 prospectively from January 1, 2018. As of the date of initial application, the Group concluded that the hedging relationship in accordance with IAS 39 is appropriate for hedge accounting under IFRS 9, thus the hedging relationship is considered to exist continually. Since the major conditions for hedging instruments and the hedged items are consistent, all hedging relationships are consistent within the effectiveness assessment requirements of IFRS 9. The Group has not designated a hedging relationship in accordance with IFRS 9 in which the hedge relationship would not have met the requirements for hedge accounting under IAS 39. e) Effect on equity as a result of adoption of IFRS 9 The effect on equity due to the adoption of IFRS 9 as of January 1, 2018 is as follows (Unit: Korean Won in millions): • Impact on accumulated other comprehensive loss due to financial assets at FVTOCI, etc. Amount Balance as of December 31, 2017 (prior to IFRS 9) (89,723 ) Adjustments (392,177 ) Reclassification of available-for-sale (152,124 ) Recognition of expected credit losses of debt securities at FVTOCI 4,293 Reclassification of available for sale financial assets(equity securities) to financial assets at FVTOCI (397,508 ) Effect on changes in credit risk of financial liabilities at fair value through profit or loss designated as upon initial recognition (133 ) Others 3,499 Income tax effect 149,796 Balance as of January 1, 2018 (based on IFRS 9) (481,900 ) • Retained earnings impact Amount Balance as of December 31, 2017 (prior to IFRS 9) 15,620,006 Adjustments 177,091 Reclassification of available-for-sale 152,124 Recognition of expected credit losses of debt instruments at FVTOCI (4,293 ) Reclassification of available-for-sale 397,508 Effect on revaluation of financial assets at amortized cost from loan and receivables or AFS financial assets 282 Recognition of expected credit losses of financial assets at amortized cost which were previously loan and receivables (240,683 ) Effect on provision for guarantees and unused loan commitments on liabilities (48,548 ) Effect on changes in credit risk of financial liabilities at fair value through profit or loss designated as upon initial recognition 133 Others (4,950 ) Income tax effect (74,482 ) Balance as of January 1, 2018 (based on IFRS 9) 15,797,097 • Adoption of IFRS 15—Revenue from contracts with customers (enacted) The Group adopted the requirements using the modified retrospective method, with the effect of initial application recognized on the date of initial application and without restatement of the comparative periods. Also, this standard is retroactively applied to contracts which are not completed as of the date of initial application, but practical expedient is used so that contract modifications made before the date of initial application are not retroactively restated. Accordingly, the Group has not retroactively restated the comparative consolidated financial statements presented herein. The effects of the adoption of IFRS 15 by Woori Card Co. Ltd., a subsidiary of Woori Bank, are as follows. Woori Card Co. Ltd. has modified its accounting policies related to the customer loyalty program, whereby rewards and points provided to the users of the card are deducted from revenue due to the fact that these are regarded as consideration provided to the customer. As a result of the aforementioned accounting policy modification, Fees and Commission Received on Credit Card and Fees and Commission Paid for Credit Card are both reduced by 525,978 million Won. On the other hand, accounting change modifications resulting from the adoption of IFRS 15 did not have any significant effect on the Consolidated Statement of Financial Position, the capital and the Consolidated Statement of Cash Flows. • Amendments to IFRS 2—Classification and Measurement of Share-based Payment Transactions The amendments clarify that: 1) When measuring the fair value of share-based payment, the effects of vesting and non-vesting • Amendments to IAS 40—Investment Property The amendments clarify that a transfer to, or from, investment property necessitates an assessment of whether a property meets the definition of investment property, supported by observable evidence that a change in use has occurred. The amendments further clarify that the situations listed in IAS 40 are not exhaustive and that a change in use is possible for properties under construction (i.e. a change in use is not limited to completed properties). • Amendments to IFRIC 22—Foreign Currency Transactions and Advance Consideration The interpretation addresses how to determine the ‘date of transaction’ for the purpose of determining the exchange rate to use on initial recognition of an asset, expense or income (or part of them) as a result of the derecognition of a non-monetary non-monetary non-refundable non-monetary non-monetary • Annual Improvements to IFRS 2014-2016 Cycle The amendments include partial amendments to IFRS 1 ‘First-time Adoption of IFRS’ and IAS 28 ‘Investments in Associates and Joint Ventures.’ Amendments to IAS 28 provide that an investment company such as a venture capital investment vehicle may selectively designate each of its investment in associates and/or joint ventures to be measured at fair value through profit or loss mandatorily measured at fair value, and that such designation must be made at the time of each investment’s initial recognition. In addition, when non-investment The amendments, except for IFRS 9 and IFRS 15, do not have significant impact on the consolidated financial statements of the Group. 2) The Group has not applied the following IFRS that have been issued but are not yet effective: • IFRS 16—Leases(enacted) IFRS 16 introduces a comprehensive model for the identification of lease arrangements and accounting treatments for both lessors and lessees. IFRS 16 will supersede the current lease guidance including IAS 17 Leases and the related interpretations, and will be applied to periods beginning on or after January 1, 2019. The Group plans to apply modified retrospective approach as of January 1, 2019 in accordance with IFRS 16. Therefore, the cumulative effect of applying IFRS 16 will be adjusted in the retained earnings (or, where appropriate, other components of equity) at the date of initial application, and the comparative financial statements will not be restated. IFRS 16 distinguishes leases and service contracts on the basis of whether an identified asset is controlled by a customer. Distinctions of operating leases and finance leases are removed for lessee accounting, and is replaced by model where a right-of-use The right-of-use In contrast to lessee accounting, IFRS 16 substantially carries forward the lessor accounting requirements in IAS 17, and continues to require a lessor to classify a lease either as an operating lease or a finance lease. Also, IFRS 16 requires expanded disclosures. According to the preliminary assessment of the Group, the lease agreements entered into by the Group as of December 31, 2018 are expected to meet the definition of lease under the Standard, and accordingly, if the Group adopts the Standard, it applies to all leases except short-term leases and leases of low value assets, and the Group will recognize the right-of-use right-of-use The following enacted/amended standards are not expected to affect the Group: • IFRIC 23 • Amendments to IFRS 9 • Amendments to IAS 28 • Amendments to IAS 19 • Amendments to IFRS 15 • Annual Improvements to IFRS 2015-2017 Cycle These annual improvements contain partial amendments to IAS 12 ‘Income taxes’, IAS 23 ‘Borrowing costs’, IFRS 3(R) ‘Business combinations’ and IFRS 11 ‘Joint arrangements’. (2) Basis of consolidated financial statement presentation The consolidated financial statements incorporate the financial statements of Woori Financial Group and the entities (including structured entities) controlled by Woori Financial Group (and its subsidiaries, which is the “Group”). Control is achieved where the Group 1) has the power over the investee, 2) is exposed, or has rights, to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. The Group reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control listed above. When the Group has less than a majority of the voting rights of an investee, it has power over the investee when the voting rights are sufficient to give it the practical ability to direct the relevant activities of the investee unilaterally. The Group considers all relevant facts and circumstances in assessing whether or not the Group’s voting rights in an investee are sufficient to give it power, including: • The relative size of the Group’s holding of voting rights and dispersion of holdings of the other vote holders; • Potential voting rights held by the Group, other vote holders or other parties; • Rights arising from other contractual arrangements; • Any additional facts and circumstances that indicate that the Group has, or does not have, the current ability to direct the relevant activities at the time that decisions need to be made, including voting patterns at previous shareholders’ meetings. Income and expenses of subsidiaries acquired or disposed of during the year are included in the consolidated statement of comprehensive income from the date the Group gains control until the date when the Group ceases to control the subsidiary. Profit or loss and each component of other comprehensive income are attributed to the owner of the Group and to the non-controlling non-controlling non-controlling Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with the Group’s accounting policies. All intra-group transactions and, related assets and liabilities, income and expenses are eliminated in full on consolidation. Changes in the Group’s ownership interests in subsidiaries that do not result in the Group losing control over the subsidiaries are accounted for as equity transactions. The carrying amounts of the Group’s interests and the non-controlling non-controlling When the Group loses control of a subsidiary, a gain or loss on disposal is calculated as the difference between (i) the aggregate of the fair value of the consideration received and the fair value of any retained interest and (ii) the previous carrying amount of the assets (including goodwill), and liabilities of the subsidiary and any non-controlling (3) Business combinations Acquisitions of subsidiaries and businesses are accounted for using the acquisition method. The consideration transferred in a business combination is measured as the sum of the acquisition-date fair values of the assets transferred by the Group in exchange for control of the acquiree, liabilities assumed by the Group for the former owners of the acquiree and the equity interests issued by the Group. Acquisition-related costs are generally recognized in profit or loss as incurred. At the acquisition date, the acquiree’s identifiable assets, liabilities and contingent liabilities that meet the condition for recognition under IFRS 3(R) are recognized at their fair value, except that: • deferred tax assets or liabilities and assets or liabilities related to employee benefit arrangements are recognized and measured in accordance with IAS 12 Income Taxes and IAS 19 Employee Benefits, respectively; • liabilities or equity instruments related to share-based payment arrangements of the acquiree or share-based payment arrangements of the Group entered into to replace share-based payment arrangements of the acquiree are measured in accordance with IFRS 2 Share-based Payment at the acquisition date; and • non-current Non-current Any excess of the sum of the consideration transferred, the amount of any non-controlling If, after reassessment, the Group’s interest in the fair value of the acquiree’s identifiable net assets exceeds the sum of the consideration transferred, the amount of any non-controlling Non-controlling non-controlling transaction-by-transaction non-controlling When the consideration transferred by the Group in a business combination includes assets or liabilities resulting from a contingent consideration arrangement, the contingent consideration is measured at its acquisition-date fair value and included as part of the consideration transferred in a business combination. Changes in the fair value of the contingent consideration that qualify as measurement period adjustments are adjusted retrospectively, with corresponding adjustments against goodwill. Measurement period adjustments are adjustments that arise from additional information obtained during the ‘measurement period’ (which cannot exceed one year from the acquisition date) about facts and circumstances that existed at the acquisition date. The subsequent accounting for changes in the fair value of the contingent consideration that do not qualify as measurement period adjustments depends on how the contingent consideration is classified. Contingent consideration that is classified as equity is not remeasured at subsequent reporting dates and its subsequent settlement is accounted for within equity. Contingent consideration other than the above is remeasured at subsequent reporting dates as appropriate, with the corresponding gain or loss being recognized in profit or loss. When a business combination is achieved in stages, the Group’s previously held equity interest in the acquiree is remeasured at fair value at the acquisition date (i.e., the date when the Group obtains control) and the resulting gain or loss, if any, is recognized in net income(or other comprehensive income, if applicable). Amounts arising from changes in value of interests in the acquiree prior to the acquisition date that have previously been recognized in other comprehensive income are recognized, identical to the treatment assuming interests are sold directly. In case where i) a common entity ultimately controls over all participating entities, or businesses, in a business combination transaction, prior to and after the transaction continuously, and ii) the control is not temporary, the transaction meets the definition of “business combination under common control” and it is deemed that the transaction only results in the changes in legal substance, and not economic substance, from the perspective of the ultimate controlling party. Thus, in such transactions, the acquirer recognizes the assets and liabilities of the acquiree in its financial statements at the book values as recognized in the ultimate controlling party’s consolidated financial statements, and the difference between the book value of consideration transferred to and the book value of net assets transferred in is recognized as equity. (4) Investments in joint ventures and associates An associate is an entity over which the Group has significant influence, and that is not a subsidiary or a joint venture. Significant influence is the power to participate in making decision on the financial and operating policy of the investee but is not control or joint control over those policies. A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to net assets relating to the arrangement. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. The net income of current period and the financial assets and liabilities of the joint ventures and associates are incorporated in these consolidated financial statements using the equity method of accounting, except when the investment is classified as held for sale, in which case it is accounted for in accordance with IFRS 5 Non-current Any excess of the cost of acquisition over the Group’s share of the net fair value of the identifiable assets, liabilities and contingent liabilities of the joint ventures and associates recognized at the date of acquisition is recognized as goodwill, which is included within the carrying amount of the investment. Any excess of the Group’s share of the net fair value of the identifiable assets, liabilities and contingent liabilities over the cost of acquisition is recognized immediately in net income. Upon a loss of significant influence over the joint ventures and associates, the Group discontinues the use of the equity method and measures at fair value of any investment that the Group retains in the former joint ventures and associates from the date when the Group loses significant influence. The fair value of the investment is regarded as its fair value on initial recognition as a financial asset in accordance with IFRS 9 Financial Instruments; Recognition and Measurement. The Group recognized differences between the carrying amount and fair value in net income and it is included in determination of the gain or loss on disposal of joint ventures and associates. The Group accounts for all amounts recognized in other comprehensive income in relation to that joint ventures and associates on the same basis as would be required if the joint ventures and associates had directly disposed of the related assets or liabilities. Therefore, if a gain or loss previously recognized in other comprehensive income by an associate would be reclassified to net income on the disposal of the related assets or liabilities, the Group reclassifies the gain or loss from equity to net income as a reclassification adjustment. When the Group’s ownership of interest in an associate or a joint venture decreases but the Group continues to maintain significant influence over an associate or a joint venture, the Group reclassifies to profit or loss the proportion of the gain or loss that had previously been recognized in other comprehensive income relating to that decrease in ownership interest if the gain or loss would be reclassified to profit or loss on the disposal of the related assets or liabilities. Meanwhile, if interest on associate or joint venture meets the definition of non-current The requirements of IAS 28—Investments in Associates and Joint Ventures to determine whether there has been a loss event are applied to identify whether it is necessary to recognize any impairment loss wi |
Significant accounting estimate
Significant accounting estimates and assumptions | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of accounting judgements and estimates [Abstract] | |
Significant Accounting Estimates And Assumptions | 3. SIGNIFICANT ACCOUNTING ESTIMATES AND ASSUMPTIONS The significant accounting estimates and assumptions are continuously being evaluated based on numerous factors including historical experiences and expectations of future events considered to be reasonably possible. Actual results can differ from those estimates based on such definitions. The accounting estimates and assumptions that contain significant risk of materially changing current book values of assets and liabilities in the next accounting periods are as follows: (1) Income taxes The Group has recognized current and deferred taxes based on best estimates of expected future income tax effect arising from the Group’s operations until the end of the current reporting period. However, actual tax payment may not be identical to the related assets and/or liabilities already recognized, and these differences may affect current taxes and deferred tax assets/liabilities at the time when income tax effects are finalized. Deferred tax assets relating to tax losses carried forward and deductible temporary differences are recognized only to the extent that it is probable that future taxable profit will be available against which the tax losses carried forward and the deductible temporary differences can be utilized. In this case the Group’s evaluation considers various factors such as estimated future taxable profit based on forecasted operating results, which are based on historical financial performance. The Group is reviewing the book value of deferred tax assets every end of the reporting period and in the event that the possibility of earning future taxable income changes, the deferred tax assets are adjusted up to taxable income sufficient to use deductible temporary differences. (2) Valuation of Financial Instruments Financial assets at FVTPL and FVTOCI are recognized in the consolidated financial statements at fair value. All derivatives are measured at fair value. Valuation techniques are required in order to determine fair values of financial instruments where observable market prices do not exist. Financial instruments that are not actively traded and have low price transparency will have less objective fair value and require broad judgment in liquidity, concentration, uncertainty in market factors and assumption in price determination and other risks. As described in Note 2-(9)-5), (3) Impairment of financial instruments IFRS 9 requires entities to measure loss allowance equal to 12-month Stage 1 Stage 2 Stage 3 Credit risk has not significantly increased (*) Credit risk has Credit has been impaired Allowance for expected credit losses Expected 12-month Expected credit losses due to possible defaults on financial instruments within a 12-month year-end. Expected lifetime credit losses: Expected credit losses from all possible defaults during the expected lifetime of the financial instruments. (*) Credit risk may be considered to not have been significantly increased when credit risk is low at year-end. The Group has estimated the allowance for credit losses based on reasonable and supportable information that was available without undue cost or effort at the reporting date about past events, current conditions and forecasts of future economic conditions. Probability of default (PD) and Loss given default (LGD) for each category of financial asset is being calculated by considering factors such as debtor type, credit rating and portfolio. The estimates are regularly being reviewed in order to reduce discrepancies with actual losses. Also, in measuring the expected credit losses, the Group is using reasonable and supportable macroeconomic indicators such as economic growth rates, interest rates, market index rates, etc., in order to forecast future economic conditions. The Group is conducting the following procedures to estimate and apply future economic forecast information. • Development of prediction models by analyzing the correlation between default rates of corporate and retail exposures per year and macroeconomic indicators • Calculation of predicted default rate incorporating future economic forecasts by applying estimated macroeconomic indicators provided by verified institutions such as Bank of Korea and National Assembly Budget Office to the prediction model developed. At the end of every reporting period, the Group evaluates whether credit risk reflected forward-looking information has significantly been increased since the date of initial recognition. When evaluating whether credit risk has significantly been increased, the changes in the probability of default over the financial instrument’s remaining life is used instead of changes in the amount of expected credit losses. The Group performs the above evaluation with distinctions made to corporate and retail exposures, and indicators of significant increase in credit risk are as follows: Corporate Exposures Retail Exposures Asset quality level ‘Precautionary’ or lower Asset quality level ‘Precautionary’ or lower More than 30 days past due More than 30 days past due ‘Warning’ level in early warning system Significant decrease in credit rating (*) Debtor experiencing financial difficulties Significant decrease in credit rating (*) (*) Determining whether there has been a significant decrease in the credit rating of corporate and retail exposures applies only to credit ratings that are measured through 12-month Credit rating Significant increased indicator of the Corporate AAA ~ A+ More than 4 steps A- More than 3 steps BBB- More than 2 steps BB ~ BB- More than 1 step Retail 1 ~ 3 More than 3 steps 4 ~ 5 More than 2 steps 6 ~ 10 More than 1 step The Group sees no significant increase in credit risk after initial recognition for debt securities, etc. with a credit rating of A+ or higher, which are deemed to have low credit risk at the end of the reporting period. The Group concludes that credit is impaired when financial assets are under conditions stated below: • When principal of loan is overdue for 90 days or longer due to significant deterioration in credit • For loans overdue for less than 90 days, when it is determined that not even a portion of the loan will be recovered unless claim actions such as disposal of collaterals are taken • When other objective indicators of impairment has been noted for the financial asset The Group determines which loan is subject to write-off write-off, (4) Defined benefit plan The Group operates a defined benefit pension plan. Defined benefit obligation is calculated at every end of the reporting period by performing actuarial valuation, and estimation of assumptions such as discount rate, expected wage growth rate and mortality rate is required to perform such actuarial valuation. The defined benefit plan, due to its long-term nature, contains significant uncertainties in its estimates. |
Risk management
Risk management | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of risk management [Abstract] | |
Disclosure of risk management | 4. RISK MANAGEMENT The Group’s operating activity is exposed to various financial risks. The Group is required to analyze and assess the level of complex risks, and determine the permissible level of risks and manage such risks. The Group’s risk management procedures have been established to improve the quality of assets for holding or investment purposes by making decisions as how to avoid or mitigate risks through the identification of the source of the potential risks and their impact. The Group has established an approach to manage the acceptable level of risks and reduce the excessive risks in financial instruments in order to maximize the profit given risks present, for which the Group has implemented processes for risk identification, assessment, control, and monitoring and reporting. The risk is managed by the risk management department in accordance with the Group’s risk management policy. The Risk Management Committee makes decisions on the risk strategies such as the allocation of risk capital and the establishment of acceptable level of risk. (1) Credit risk Credit risk represents the possibility of financial losses incurred when the counterparty fails to fulfill its contractual obligations. The goal of credit risk management is to maintain the Group’s credit risk exposure to a permissible degree and to optimize its rate of return considering such credit risk. 1) Credit risk management The Group considers the probability of failure in performing the obligation of its counterparties, credit exposure to the counterparty, the related default risk and the rate of default loss. The Group uses the credit rating model to assess the possibility of counterparty’s default risk; and when assessing the obligor’s credit grade, the Group utilizes credit grades derived using statistical methods. In order to manage credit risk limit, the Group establishes the appropriate credit line per obligor, company or industry. It monitors obligor’s credit line, total exposures and loan portfolios when approving the loan. The Group mitigates credit risk resulting from the obligor’s credit condition by using financial and physical collateral, guarantees, netting agreements and credit derivatives. The Group has adopted the entrapment method to mitigate its credit risk. Credit risk mitigation is reflected in qualifying financial collateral, trade receivables, guarantees, residential and commercial real estate and other collaterals. The Group regularly performs a revaluation of collateral reflecting such credit risk mitigation. 2) Maximum exposure to credit risk The Group’s maximum exposure to credit risk refers to net book value of financial assets net of allowances, which shows the uncertainties of maximum changes of net value of financial assets attributable to a particular risk without considering collateral and other credit enhancements obtained. However, the maximum exposure is the fair value amount (recorded on the books) for derivatives, maximum contractual obligation for payment guarantees and unused loan commitment. The maximum exposure to credit risk is as follows (Unit: Korean Won in millions): December 31, December 31, Loans and other financial assets at amortized cost Korean treasury and government agencies — 13,547,154 Banks — 22,283,842 Corporates — 96,627,671 Consumers — 149,998,911 Sub-total — 282,457,578 Loans and receivables Korean treasury and government agencies 8,823,584 — Banks 26,845,309 — Corporates 90,570,551 — Consumers 140,866,760 — Sub-total 267,106,204 — Financial assets at FVTPL (IFRS 9) Deposit — 26,935 Debt securities — 1,824,155 Loans — 385,450 Derivative assets — 2,026,079 Sub-total — 4,262,619 Financial assets at FVTPL (IAS 39) Deposit 25,972 — Debt securities 2,644,333 — Financial assets designated as at FVTPL 9,694 — Derivative assets 3,115,775 — Sub-total 5,795,774 — Financial assets at FVTOCI Debt securities — 17,112,249 AFS financial assets Debt securities 13,229,244 — Securities at amortized cost Debt securities — 22,932,559 HTM financial assets Debt securities 16,749,296 — Derivative assets Derivative assets (Designated for hedging) 59,272 35,503 Off-balance Guarantees 12,859,715 12,666,417 Unused loan commitments 80,760,325 97,796,704 Sub-total 93,620,040 110,463,121 Total 396,559,830 437,263,629 a) Credit risk exposure by geographical areas The following tables analyze credit risk exposure by geographical areas (Unit: Korean Won in millions): December 31, 2017 Korea China USA UK Japan Others (*) Total Loans and receivables 250,678,479 4,104,912 2,823,247 1,094,988 381,890 8,022,688 267,106,204 Financial assets at FVTPL 5,551,870 2,937 — 148,955 — 92,012 5,795,774 AFS debt securities 12,407,602 52,259 151,131 — — 618,252 13,229,244 HTM securities 16,606,692 — 63,732 — — 78,872 16,749,296 Derivative assets (Designated for hedging) 16,590 — — 42,682 — — 59,272 Off-balance 91,603,852 529,193 172,570 66,974 25,039 1,222,412 93,620,040 Total 376,865,085 4,689,301 3,210,680 1,353,599 406,929 10,034,236 396,559,830 December 31, 2018 Korea China USA UK Japan Others (*) Total Loans and other financial assets at amortized cost 261,547,407 4,592,153 4,597,119 1,526,532 893,354 9,301,013 282,457,578 Securities at amortized cost 22,757,048 — 70,578 — — 104,933 22,932,559 Financial assets at FVTPL 4,261,110 1,243 — — 266 — 4,262,619 Financial assets at FVTOCI 15,697,518 261,085 103,755 24,960 2,247 1,022,684 17,112,249 Derivative assets (Designated for hedging) 35,503 — — — — — 35,503 Off-balance 107,632,858 801,978 343,323 136,727 35,000 1,513,235 110,463,121 Total 411,931,444 5,656,459 5,114,775 1,688,219 930,867 11,941,865 437,263,629 (*) Others consist of financial assets in Indonesia, Hong Kong, Singapore, and other countries. b) Credit risk exposure by industries The following tables analyze credit risk exposure by industries, which are service, manufacturing, finance and insurance, construction, individuals and others in accordance with the Korea Standard Industrial Classification Code (Unit: Korean Won in millions): December 31, 2017 Service Manufacturing Finance and Construction Individuals Others Total Loans and receivables 47,192,641 34,502,509 38,260,051 3,574,746 133,094,287 10,481,970 267,106,204 Financial assets at FVTPL 100,766 83,239 4,640,068 15,073 1,040 955,588 5,795,774 AFS debt securities 707,737 37,719 7,331,774 153,534 — 4,998,480 13,229,244 HTM securities 1,348,754 — 10,962,149 296,214 — 4,142,179 16,749,296 Derivative assets (Designated for hedging) — — 59,272 — — — 59,272 Off-balance 16,892,926 21,427,378 9,841,379 3,842,479 36,928,554 4,687,324 93,620,040 Total 66,242,824 56,050,845 71,094,693 7,882,046 170,023,881 25,265,541 396,559,830 December 31, 2018 Service Manufacturing Finance and Construction Individuals Others Total Loans and other financial assets at amortized cost 48,319,987 34,972,072 40,338,823 3,295,967 145,715,074 9,815,655 282,457,578 Securities at amortized cost 1,157,512 — 13,414,743 527,847 — 7,832,457 22,932,559 Financial assets at FVTPL 120,659 153,159 3,117,845 16,118 7,614 847,224 4,262,619 Financial assets at FVTOCI 382,409 109,749 13,017,646 224,665 5,535 3,372,245 17,112,249 Derivative assets (Designated for hedging) — — 35,503 — — — 35,503 Off-balance 17,645,104 22,300,388 9,654,685 4,146,708 49,948,865 6,767,371 110,463,121 Total 67,625,671 57,535,368 79,579,245 8,211,305 195,677,088 28,634,952 437,263,629 3) Credit risk exposure a) Financial assets The maximum exposure to credit risk by asset quality, except for financial assets at FVTPL and derivative asset (Designated for hedging), is as follows (Unit: Korean Won in millions): • Loans and receivables December 31, 2017 Corporates Korean Banks General Small- and medium-sized Project financing and others Sub-total Consumers Total Neither overdue nor impaired 8,825,767 26,861,286 50,463,112 34,107,547 5,547,950 90,118,609 139,886,407 265,692,069 Overdue but not impaired 8 — 65,616 63,067 — 128,683 878,406 1,007,097 Impaired — — 1,402,131 251,431 46,717 1,700,279 537,001 2,237,280 Total 8,825,775 26,861,286 51,930,859 34,422,045 5,594,667 91,947,571 141,301,814 268,936,446 Loss allowance 2,191 15,977 1,078,733 267,162 31,125 1,377,020 435,054 1,830,242 Total, net 8,823,584 26,845,309 50,852,126 34,154,883 5,563,542 90,570,551 140,866,760 267,106,204 • Debt securities The Group manages debt securities based on the external credit rating. Credit soundness of debt securities on the basis of External Credit Assessment Institution (ECAI)’s rating is as follows (Unit: Korean Won in millions): December 31, 2017 Financial assets at (*) AFS debt securities HTM securities Total AAA 1,685,099 9,897,689 15,806,327 27,389,115 AA- 722,923 2,386,567 888,547 3,998,037 BBB- 236,311 876,482 52,188 1,164,981 Below BBB- 9,694 68,506 2,234 80,434 Total 2,654,027 13,229,244 16,749,296 32,632,567 (*) Financial assets at FVTPL comprise debt securities held for trading and financial assets designated as at FVTPL. December 31, 2018 Stage 1 Stage 2 Stage 3 Total Loss Total, net Above (*1) Less than a (*3) Above (*2) Less than a (*3) Loans and other financial assets at amortized cost 252,921,186 17,624,416 6,330,382 5,739,850 1,693,148 284,308,982 (1,851,404 ) 282,457,578 Korean treasury and government agencies 13,549,305 1,009 1 — — 13,550,315 (3,161 ) 13,547,154 Banks 22,163,951 105,583 27,777 — 14,307 22,311,618 (27,776 ) 22,283,842 Corporates 77,160,502 15,550,301 655,907 3,424,215 1,034,030 97,824,955 (1,197,284 ) 96,627,671 General business 43,173,952 6,474,057 526,303 1,723,704 716,722 52,614,738 (817,002 ) 51,797,736 Small- and medium-sized 29,510,917 8,527,542 107,998 1,547,761 277,825 39,972,043 (335,469 ) 39,636,574 Project financing and others 4,475,633 548,702 21,606 152,750 39,483 5,238,174 (44,813 ) 5,193,361 Consumers 140,047,428 1,967,523 5,646,697 2,315,635 644,811 150,622,094 (623,183 ) 149,998,911 Securities at amortized cost 22,939,039 — 195 — 250 22,939,484 (6,925 ) 22,932,559 Financial assets at FVTOCI (*4) 16,940,654 146,442 25,153 — — 17,112,249 (6,177 ) 17,112,249 Total 292,800,879 17,770,858 6,355,730 5,739,850 1,693,398 324,360,715 (1,864,506 ) 322,502,386 December 31, 2018 Collateral value Stage 1 Stage 2 Stage 3 Total Loans and other financial assets at amortized cost 163,329,105 8,836,440 698,593 172,864,138 Korean treasury and government agencies 11,600 — — 11,600 Banks 361,024 3,334 — 364,358 Corporates 51,595,949 2,509,620 426,325 54,531,894 General business 19,907,948 1,167,993 241,651 21,317,592 Small- and medium-sized 29,780,716 1,291,222 184,674 31,256,612 Project financing and others 1,907,285 50,405 — 1,957,690 Consumers 111,360,532 6,323,486 272,268 117,956,286 Securities at amortized cost — — — — Financial assets at FVTOCI (*4) — — — — Total 163,329,105 8,836,440 698,593 172,864,138 (*1) Credit grade of corporates are AAA ~ BBB, and consumers are grades 1 ~ 6. (*2) Credit grade of corporates are A- (*3) Credit grade of corporates are BBB- (*4) Financial assets at FVTOCI has been disclosed as the amount before deducting loss allowance because loss allowance does not reduce the carrying amount. b) Guarantees and loan commitments The credit quality of the guarantees and loan commitments as of December 31, 2018 as follows (Unit: Korean Won in millions): December 31, 2018 Financial assets Stage 1 Stage 2 Stage 3 Total Above (*1) Less than a (*3) Above (*2) Less than a (*3) Off-balance 11,212,772 1,063,551 7,147 261,599 121,348 12,666,417 Loan commitments 91,734,567 3,632,586 1,529,330 880,518 19,703 97,796,704 Total 102,947,339 4,696,137 1,536,477 1,142,117 141,051 110,463,121 (*1) Credit grade of corporates are AAA ~ BBB, and consumers are grades 1 ~ 6. (*2) Credit grade of corporates are A- (*3) Credit grade of corporate are BBB- 4) Collateral and other credit enhancements During the current quarter, there have been no significant changes in the value of collateral or other credit enhancements held by the Group and there have been no significant changes in collateral or other credit enhancements due to changes in the collateral policy of the Group. As of December 31, 2018, there are no financial assets that do not recognize the allowance for losses just because financial assets have collateral. 5) For the financial assets that record loss allowance as total expected credit loss, the amortized cost before the change in contractual cash flows is 23,132 million won, and the net loss due to the change is 239 million won. 6) As the Group manages receivables that have not lost the right of claim to the debtor for the grounds of incomplete statute limitation and uncollected receivables under the related laws as receivable charge-offs, the balance as of December 31, 2018 is 9,578,796 million won. (2) Market risk Market risk is the possible risk of loss arising from trading activities and non-trading 1) Market risk management For trading activities and non-trading On a yearly basis, the Risk Management Committee establishes a Value at Risk (“VaR”, maximum losses) limit, loss limit and risk capital limit by subsidiaries for its management purposes. The limit by investment desk/dealer is independently managed to the extent of the limit given to subsidiaries and the limit by investment and loss cut is managed by the risk management personnel within the department. The Group uses both a standard-based and an internal model-based approach to measure market risk. The standard-based approach is used to calculate individual market risk of owned capital while the internal model-based approach is used to calculate general capital market risk and it is used to measure internal risk management measure. For the trading activities, the Risk Management department measures the VaR limit by department, risk factor and loss limit on a daily basis and reports regularly to the Risk Management Committee. 2) Sensitivity analysis of market risk The Group performs the sensitivity analysis both for trading and for non-trading For trading activities, the Group uses a VaR model that uses certain assumptions of possible fluctuations in market condition and, by conducting simulations of gains and losses, under which the model estimates the maximum losses that may occur. A VaR model predicts based on statistics of possible losses on the portfolio at a certain period currently or in the future. It indicates the maximum expected loss with at least 99% confidence level. In short, there exists a one percent possibility that the actual loss might exceed the predicted loss generated from the VaR calculation. The actual results are periodically monitored to examine the validity of the assumptions, variables, and factors that are used in VaR calculations. However, this approach cannot prevent the loss when the market fluctuation exceeds expectation. For the non-trading NII is a profit-based indicator for displaying the profit changes in short term due to the short-term interest changes. It will be estimated as subtracting interest expenses of liabilities from the interest income of assets. NPV is an indicator for displaying risks in economic view according to unfavorable changes related to interest rate. It will be estimated as subtracting the present value of liabilities from the present value of assets. EaR shows the maximum profit-loss amount, which indicates the maximum deduction amount caused by the unfavorable changes related to the interest rate of a certain period (i.e. 1 year). Interest rate VaR shows the potential maximum loss generated by the unfavorable changes during a certain period of time in the present or future. a) Trading activities The minimum, maximum and average VaR for the year ended December 31, 2017 and 2018, respectively, and the VaR as of December 31, 2017 and 2018, respectively, are as follows (Unit: Korean Won in millions): December 31, For the year ended December 31, 2017 December 31, For the year ended December 31, 2018 Risk factor Average Maximum Minimum Average Maximum Minimum Interest rate 4,183 3,799 4,918 2,467 3,107 3,702 5,528 1,730 Stock price 909 2,863 4,419 909 2,353 2,669 5,081 1,138 Foreign currencies 4,750 5,051 6,636 4,061 4,972 4,678 6,136 3,439 Commodity price — 31 188 — — 3 24 — Diversification (4,472 ) (4,621 ) (6,798 ) (2,067 ) (4,445 ) (4,869 ) (8,155 ) (1,815 ) Total VaR (*) 5,370 7,123 9,363 5,370 5,987 6,183 8,614 4,492 (*) VaR (Value at Risk): Maximum expected losses b) Non-trading The NII and NPV are calculated for the assets and liabilities owned by the Bank and consolidated trusts, respectively, by using the simulation method. The scenario responding to interest rate (“IR”) changes are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 NII (*1) NPV (*2) NII (*1) NPV (*2) Base case 4,916,138 23,472,792 4,895,332 24,636,678 Base case (Prepay) 4,916,015 23,163,942 4,887,799 24,225,946 IR 100bp up 5,361,546 22,886,122 5,575,470 24,415,761 IR 100bp down 4,386,437 24,127,559 4,329,543 24,907,344 IR 200bp up 5,806,723 22,372,208 6,603,132 24,232,738 IR 200bp down 3,452,590 24,830,482 3,508,859 25,245,667 IR 300bp up 6,251,897 21,929,189 7,560,155 24,079,415 IR 300bp down 2,254,609 26,633,807 3,352,267 25,680,084 (*1) NII: Net Interest Income (*2) NPV: Net Portfolio Value The interest EaR and VaR calculated based on the BIS Framework of subsidiaries other than the Bank and consolidated trusts are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 EaR (*1) VaR (*2) EaR (*1) VaR (*2) 255,679 130,821 248,364 141,484 (*1) EaR(Earning at Risk): Change of Maximum expected income and expense (*2) VaR(Value at Risk): Maximum expected losses The Group estimates and manages risks related to changes in interest rate due to the difference in the maturities of interest-bearing assets and liabilities and discrepancies in the terms of interest rates. Cash flows (both principal and interest), interest bearing assets and liabilities, presented by each re-pricing December 31, 2017 Within 3 4 to 6 months 7 to 9 months 10 to 12 1 to 5 years Over 5 years Total Asset: Loans and receivables 161,653,892 41,671,530 7,614,159 6,411,841 54,150,998 26,272,958 297,775,378 AFS financial assets 2,150,708 2,500,103 2,016,711 2,367,762 4,229,000 601,735 13,866,019 HTM financial assets 2,286,179 2,161,467 1,433,425 1,687,362 9,369,794 345,868 17,284,095 Total 166,090,779 46,333,100 11,064,295 10,466,965 67,749,792 27,220,561 328,925,492 Liability: Deposits due to customers 106,815,564 37,750,367 25,117,556 27,585,458 37,518,878 91,246 234,879,069 Borrowings 9,865,249 1,056,579 412,966 437,431 2,709,010 479,827 14,961,062 Debentures 1,955,902 2,452,240 1,018,563 1,752,847 19,770,538 2,869,766 29,819,856 Total 118,636,715 41,259,186 26,549,085 29,775,736 59,998,426 3,440,839 279,659,987 December 31, 2018 Within 3 4 to 6 months 7 to 9 months 10 to 12 1 to 5 years Over 5 Total Asset: Loans and other financial assets at amortized cost 159,894,065 45,387,214 8,878,060 9,903,959 46,459,450 4,201,379 274,724,127 Financial assets at FVTPL 371,984 32,278 24,951 64,838 145,121 27,536 666,708 Financial assets at FVTOCI 2,579,442 1,775,435 1,486,953 2,223,494 9,289,742 185,320 17,540,386 Securities at amortized cost 2,449,416 2,251,180 1,735,698 1,946,948 15,177,608 402,671 23,963,521 Total 165,294,907 49,446,107 12,125,662 14,139,239 71,071,921 4,816,906 316,894,742 Liability: Deposits due to customers 100,232,916 44,207,416 29,419,951 35,427,657 40,130,055 72,276 249,490,271 Borrowings 9,971,680 1,924,390 670,404 518,167 2,723,156 626,364 16,434,161 Debentures 2,153,916 2,416,483 2,201,070 2,584,230 18,955,400 2,403,077 30,714,176 Total 112,358,512 48,548,289 32,291,425 38,530,054 61,808,611 3,101,717 296,638,608 3) Currency risk Currency risk arises from the financial instruments denominated in foreign currencies other than the functional currency. Therefore, no currency risk arises from non-monetary Financial instruments in foreign currencies exposed to currency risk are as follows (Unit: USD in millions, JPY in millions, CNY in millions, EUR in millions, and Korean Won in millions): December 31, 2017 USD JPY CNY EUR Others Total Foreign Korean equivalent Foreign currency Korean equivalent Foreign currency Korean equivalent Foreign Korean equivalent Korean equivalent Korean equivalent Asset Loans and receivables 23,000 24,642,900 126,944 1,204,843 25,224 4,127,936 1,156 1,479,351 3,937,733 35,392,763 Financial assets at FVTPL 32 34,303 25 238 — — 27 34,583 104,892 174,016 AFS financial assets 1,966 2,105,972 — — 319 52,259 — 590 302,801 2,461,622 HTM financial assets 111 118,868 — — — — — — 78,175 197,043 Total 25,109 26,902,043 126,969 1,205,081 25,543 4,180,195 1,183 1,514,524 4,423,601 38,225,444 Liability Financial liabilities at FVTPL 41 43,423 79 752 — — 19 24,878 69,977 139,030 Deposits due to customers 13,744 14,725,686 195,176 1,852,440 21,865 3,578,142 883 1,129,802 2,396,826 23,682,896 Borrowings 6,604 7,080,118 2,218 21,056 — — 247 315,685 242,874 7,659,733 Debentures 3,467 3,714,411 — — 700 114,555 — — 375,749 4,204,715 Other financial liabilities 2,392 2,562,740 16,125 153,043 1,802 294,950 129 165,189 588,625 3,764,547 Total 26,248 28,126,378 213,598 2,027,291 24,367 3,987,647 1,278 1,635,554 3,674,051 39,450,921 Off-balance 8,108 8,687,009 33,624 319,127 1,199 196,261 406 519,843 176,886 9,899,126 December 31, 2018 USD JPY CNY EUR Others Total Foreign Korean equivalent Foreign currency Korean equivalent Foreign currency Korean equivalent Foreign Korean equivalent Korean equivalent Korean equivalent Asset Loans and other financial assets at amortized cost 20,406 22,816,027 167,419 1,696,255 29,880 4,863,230 1,994 2,550,147 4,742,340 36,667,999 Financial assets at FVTPL 74 82,197 1,425 14,434 — — 59 75,169 79,584 251,384 Financial assets at FVTOCI 1,472 1,645,595 — — 1,604 261,085 — — 729,581 2,636,261 Securities at amortized cost 52 58,489 — — — — — — 175,552 234,041 Total 22,004 24,602,308 168,844 1,710,689 31,484 5,124,315 2,053 2,625,316 5,727,057 39,789,685 Liability Financial liabilities at FVTPL 118 131,927 1,956 19,815 — — 55 70,250 121,658 343,650 Deposits due to customers 11,159 12,477,154 169,770 1,720,072 23,967 3,900,923 887 1,135,149 4,392,936 23,626,234 Borrowings 6,606 7,386,616 3,834 38,847 381 61,947 286 365,585 505,541 8,358,536 Debentures 3,645 4,075,084 — — — — — — 285,339 4,360,423 Other financial liabilities 2,522 2,820,290 28,955 293,362 1,818 295,919 193 246,584 18,527 3,674,682 Total 24,050 26,891,071 204,515 2,072,096 26,166 4,258,789 1,421 1,817,568 5,324,001 40,363,525 Off-balance 7,453 8,333,153 33,347 337,868 1,557 253,366 474 606,714 823,655 10,354,756 (3) Liquidity risk Liquidity risk refers to the risk that the Group may encounter difficulties in meeting obligations from its financial liabilities. 1) Liquidity risk management Liquidity risk management is to prevent potential cash shortages as a result of mismatching the use of funds (assets) and sources of funds (liabilities) or unexpected cash outflows. The financial liabilities that are relevant to liquidity risk are incorporated within the scope of risk management. Derivatives instruments are excluded from those financial liabilities as they reflect expected cash flows for a pre-determined Assets and liabilities are grouped by account under Asset Liability Management (“ALM”) in accordance with the characteristics of the account. The Group manages liquidity risk by identifying the maturity gap and such gap ratio through various cash flows analysis (i.e. based on remaining maturity and contract period, etc.), while maintaining the gap ratio at or below the target limit. 2) Maturity analysis of non-derivative a) Cash flows of principals and interests by remaining contractual maturities of non-derivative December 31, 2017 Within 3 4 to 6 months 7 to 9 months 10 to 12 1 to 5 years Over 5 years Total Financial liabilities at FVTPL 168,442 155,984 1,717 512 375 — 327,030 Deposits due to customers 148,008,777 29,563,310 18,175,348 32,468,110 7,409,118 2,624,594 238,249,257 Borrowings 6,115,732 1,893,173 1,489,272 1,178,107 3,924,681 479,568 15,080,533 Debentures 1,955,255 2,452,565 1,018,714 1,744,731 19,770,380 2,869,699 29,811,344 Other financial liabilities 7,121,342 162,871 825 1,003 128,940 2,730,001 10,144,982 Total 163,369,548 34,227,903 20,685,876 35,392,463 31,233,494 8,703,862 293,613,146 December 31, 2018 Within 3 4 to 6 months 7 to 9 months 10 to 12 1 to 5 years Over 5 years Total Financial liabilities at FVTPL 191,825 — — — — — 191,825 Deposits due to customers 145,187,689 33,825,662 22,186,833 42,046,740 7,098,907 1,870,334 252,216,165 Borrowings 6,373,835 2,846,294 1,874,069 1,607,985 3,156,128 642,017 16,500,328 Debentures 2,153,916 2,416,483 2,201,070 2,584,230 18,955,400 2,403,077 30,714,176 Other financial liabilities 14,240,022 44,572 169,996 1,201 90,615 2,288,560 16,834,966 Total 168,147,287 39,133,011 26,431,968 46,240,156 29,301,050 7,203,988 316,457,460 b) Cash flows of principals and interests by expected maturities of non-derivative December 31, 2017 Within 3 4 to 6 months 7 to 9 months 10 to 12 1 to 5 years Over 5 Total Financial liabilities at FVTPL 168,442 155,984 1,717 512 375 — 327,030 Deposits due to customers 159,146,602 31,298,562 16,667,130 21,995,294 6,487,047 2,278,756 237,873,391 Borrowings 6,115,732 1,893,173 1,489,272 1,178,107 3,924,681 479,568 15,080,533 Debentures 1,955,255 2,452,565 1,018,714 1,744,731 19,770,380 2,869,699 29,811,344 Other financial liabilities 7,121,342 162,871 825 1,003 128,940 2,730,001 10,144,982 Total 174,507,373 35,963,155 19,177,658 24,919,647 30,311,423 8,358,024 293,237,280 December 31, 2018 Within 3 4 to 6 months 7 to 9 months 10 to 12 1 to 5 years Over 5 years Total Financial liabilities at FVTPL 191,825 — — — — — 191,825 Deposits due to customers 163,787,990 38,126,886 20,993,436 23,262,092 5,230,533 17,649 251,418,586 Borrowings 6,373,835 2,846,294 1,874,069 1,607,985 3,156,128 642,017 16,500,328 Debentures 2,153,916 2,416,483 2,201,070 2,584,230 18,955,400 2,403,077 30,714,176 Other financial liabilities 14,240,022 44,572 169,996 1,201 90,615 2,288,560 16,834,966 Total 186,747,588 43,434,235 25,238,571 27,455,508 27,432,676 5,351,303 315,659,881 3) Maturity analysis of derivative financial liabilities Derivatives held for trading purpose are not managed in accordance with their contractual maturity, since the Group holds such financial instruments with the purpose of disposing or redemption before their maturity. As such, those derivatives are incorporated as “within 3 months” in the table below. Derivatives designated for hedging purpose are estimated by offsetting cash inflows and cash outflows. The cash flow by the maturity of derivative financial liabilities as of December 31, 2017 and 2018 is as follows (Unit: Korean Won in millions): Remaining maturity Within 3 4 to 6 months 7 to 9 months 10 to 12 1 to 5 years Over 5 Total December 31, 2017 3,150,149 — — 381 67,373 — 3,217,903 December 31, 2018 2,090,861 816 — — 50,592 — 2,142,269 4) Maturity analysis of off-balance The Group provides guarantees on behalf of customers. A financial guarantee represents an irrevocable undertaking that the Group should meet a customer’s obligations to third parties if the customer fails to do so. Under a loan commitment, the Group agrees to make funds available to a customer in the future. Commitments to lend include commercial standby facilities and credit lines, liquidity facilities to commercial paper conduits and utilized overdraft facilities. The maximum limit to be paid by the Group in accordance with guarantees and loan commitment only applies to principal amounts. There are contractual maturities for financial guarantees, such as guarantees for debentures issued or loans, unused loan commitments, and other guarantees, however, under the terms of the guarantees and unused loan commitments, funds should be paid upon demand from the counterparty. Details of off-balance December 31, 2017 December 31, 2018 Guarantees 12,859,715 12,666,417 Loan commitments 80,760,325 97,796,704 (4) Operational risk The Group defines the operational risk that could cause a negative effect on capital resulting from inadequate internal process, labor work and systematic problem or external factors. 1) Operational risk management The Group has been running the operational risk management system under Basel II. The Group developed Advanced Measurement Approaches (“AMA”) to quantify required capital for operational risk. This system is used for reinforcement in foreign competitions, reducing the amount of risk capitals, managing the risk, and precaution for any unexpected occasions. This system has been tested by an independent third party, and this system approved by the Financial Supervisory Service. 2) Operational risk measurement To quantify required capital for operational risk, the Group applies AMA using internal and external loss data, business environment and internal control factors, and scenario analysis. For the operational risk management for its subsidiaries, the Group adopted the Basic Indicator Approach. (5) Capital management The Group complies with the standard of capital adequacy provided by financial regulatory authorities. The capital adequacy standard is based on Basel published by Basel III Committee on Banking Supervision in Bank for International Settlement in 2010 and was implemented in Korea in December 2013. The capital adequacy ratio is calculated by dividing own capital by asset (weighted with a risk premium – risk weighted assets) based on the consolidated financial statements of the Group. According to the above regulations, the Group is required to meet the following new minimum requirements: Common Equity Tier 1 capital ratio of 6.25% and 7.13%, a Tier 1 capital ratio of 7.75% and 8.63% and a minimum total capital ratio of 9.75% and 10.63% as of December 31, 2017 and 2018, respectively. Details of the Group’s capital adequacy ratio as of December 31, 2017 and 2018 are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 Tier 1 capital 16,074,987 17,275,539 Other Tier 1 capital 3,041,664 3,147,680 Tier 2 capital 3,486,555 3,827,573 Total risk-adjusted capital 22,603,206 24,250,792 Risk-weighted assets for credit risk 134,767,711 142,626,069 Risk-weighted assets for market risk 2,316,938 2,372,451 Risk-weighted assets for operational risk 9,677,559 9,972,430 Total risk-weighted assets 146,762,208 154,970,950 Common Equity Tier 1 ratio 10.95 % 11.15 % Tier 1 capital ratio 13.03 % 13.18 % Total capital ratio 15.40 % 15.65 % |
Operating segments
Operating segments | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of operating segments [Abstract] | |
Operating Segments | 5. OPERATING SEGMENTS In evaluating the results of the Group and allocating resources, the Group’s Chief Operation Decision Maker (“CODM”) utilizes the information per type of customers. This financial information of the segments is regularly reviewed by the CODM to make decisions about resources to be allocated to each segment and evaluate its performance. (1) Segment by type of customers The Group’s reporting segments comprise the following customers: consumer banking, corporate banking, investment banking, capital market, credit card market and headquarters and others. The reportable segments are classified based on the target customers for whom the service is being provided. • Consumer banking: Loans/deposits and financial services for retail and individual consumers, etc. • Corporate banking: Loans/deposits and export/import, financial services for corporations, etc. • Investment banking: Domestic/foreign investment, structured finance, M&A, equity & fund investment related business, venture advisory related tasks, real estate SOC development practices, etc. • Capital market: Fund management, investment in securities and derivatives, etc. • Credit card: Credit card, cash service and card loan, etc. • Headquarter and others: Segments that do not belong to above operating segments The details of operating income by each segment are as follows (Unit: Korean Won in millions): For the year ended December 31, 2016 Consumer Corporate Investment Capital Credit Headquarter Sub-total Adjust- (*) Total Net Interest income Interest income 2,979,811 3,026,148 153,160 19,575 556,682 1,492,147 8,227,523 284,789 8,512,312 Interest expense (1,023,290 ) (1,780,990 ) (225 ) (324 ) (128,586 ) (863,523 ) (3,796,938 ) 304,170 (3,492,768 ) Inter-segment (472,288 ) 495,982 (138,322 ) 29,575 — 85,053 — — — 1,484,233 1,741,140 14,613 48,826 428,096 713,677 4,430,585 588,959 5,019,544 Net non-interest Non-interest 923,810 535,514 605,026 7,590,087 986,148 4,563,280 15,203,865 (13,039,498 ) 2,164,367 Non-interest (405,912 ) (32,873 ) (444,141 ) (7,586,054 ) (906,434 ) (4,173,415 ) (13,548,829 ) 12,251,676 (1,297,153 ) Inter-segment 39,512 47,553 — — — (87,065 ) — — — 557,410 550,194 160,885 4,033 79,714 302,800 1,655,036 (787,822 ) 867,214 Other income(expense) General and administrative expense (1,788,672 ) (966,878 ) (14,983 ) (17,964 ) (148,001 ) (793,978 ) (3,730,476 ) 252,000 (3,478,476 ) Reversal of allowance for credit loss and impairment losses due to credit loss (86,907 ) (509,312 ) (95,880 ) (34,031 ) (216,136 ) 219,372 (722,894 ) (111,182 ) (834,076 ) (1,875,579 ) (1,476,190 ) (110,863 ) (51,995 ) (364,137 ) (574,606 ) (4,453,370 ) 140,818 (4,312,552 ) Operating income 166,064 815,144 64,635 864 143,673 441,871 1,632,251 (58,045 ) 1,574,206 Non-operating (35,081 ) (1,619 ) 46,559 (5,288 ) (1,504 ) 55,291 58,358 (79,175 ) (20,817 ) Net income before income tax expense 130,983 813,525 111,194 (4,424 ) 142,169 497,162 1,690,609 (137,220 ) 1,553,389 Income tax expense (31,698 ) (203,983 ) (26,909 ) 1,071 (32,774 ) 16,476 (277,817 ) 1,961 (275,856 ) Net income(expense) 99,285 609,542 84,285 (3,353 ) 109,395 513,638 1,412,792 (135,259 ) 1,277,533 For the year ended December 31, 2017 Consumer Corporate Investment Capital Credit Headquarters Sub-total Adjust- (*) Total Net Interest income Interest income 3,149,625 2,964,813 148,500 18,834 599,550 1,360,734 8,242,056 308,631 8,550,687 Interest expense (955,836 ) (1,681,652 ) (243 ) — (135,947 ) (834,662 ) (3,608,340 ) 278,303 (3,330,037 ) Inter-segment (490,850 ) 512,216 (136,133 ) 18,049 — 96,718 — — — 1,702,939 1,795,377 12,124 36,883 463,603 622,790 4,633,716 586,934 5,220,650 Net non-interest Non-interest 802,387 680,778 366,523 9,548,399 1,163,575 2,683,407 15,245,069 (12,858,172 ) 2,386,897 Non-interest (253,961 ) (170,268 ) (214,355 ) (9,478,728 ) (1,090,038 ) (2,132,053 ) (13,339,403 ) 12,204,532 (1,134,871 ) Inter-segment 101,524 60,826 — — — (162,350 ) — — — 649,950 571,336 152,168 69,671 73,537 389,004 1,905,666 (653,640 ) 1,252,026 Other income (expense) General and administrative expense (1,808,974 ) (832,429 ) (12,881 ) (16,567 ) (163,536 ) (954,238 ) (3,788,625 ) 257,824 (3,530,801 ) Reversal of allowance for credit loss and impairment losses due to credit loss (97,587 ) (316,859 ) (50,954 ) 31,229 (235,116 ) 14,832 (654,455 ) (130,678 ) (785,133 ) (1,906,561 ) (1,149,288 ) (63,835 ) 14,662 (398,652 ) (939,406 ) (4,443,080 ) 127,146 (4,315,934 ) Operating income 446,328 1,217,425 100,457 121,216 138,488 72,388 2,096,302 60,440 2,156,742 Non-operating (98,510 ) (3,153 ) 39,350 — (5,219 ) (112,734 ) (180,266 ) (26,970 ) (207,236 ) Net income before income tax expense 347,818 1,214,272 139,807 121,216 133,269 (40,346 ) 1,916,036 33,470 1,949,506 Income tax expense (84,172 ) (296,634 ) (33,834 ) (29,335 ) (32,055 ) 63,396 (412,634 ) (6,784 ) (419,418 ) Net income(expense) 263,646 917,638 105,973 91,881 101,214 23,050 1,503,402 26,686 1,530,088 For the year ended December 31, 2018 Consumer Corporate Investment Capital Credit Headquarters Sub-total Adjust- (*) Total Net Interest income (expense) Interest income 3,529,645 3,409,835 152,273 8,945 670,240 1,605,696 9,376,634 307,865 9,684,499 Interest expense (1,021,639 ) (2,168,000 ) (150 ) — (160,642 ) (983,547 ) (4,333,978 ) 300,430 (4,033,548 ) Inter-segment (634,110 ) 833,224 (163,962 ) 25,963 — (61,115 ) — — — 1,873,896 2,075,059 (11,839 ) 34,908 509,598 561,034 5,042,656 608,295 5,650,951 Net non-interest Income (expense) Non-interest 678,360 721,096 230,357 7,020,740 665,534 1,214,380 10,530,467 (8,463,129 ) 2,067,338 Non-interest (143,704 ) (290,347 ) (53,671 ) (6,964,671 ) (620,687 ) (550,919 ) (8,623,999 ) 7,618,618 (1,005,381 ) Inter-segment 132,690 70,016 — — — (202,706 ) — — — 667,346 500,765 176,686 56,069 44,847 460,755 1,906,468 (844,511 ) 1,061,957 Other income (expense) General and administrative expense (1,865,933 ) (868,608 ) (14,318 ) (18,452 ) (170,765 ) (967,923 ) (3,905,999 ) 281,966 (3,624,033 ) Reversal of allowance for credit loss and impairment losses due to credit loss (127,220 ) (61,064 ) 62,454 (16,861 ) (227,144 ) 102,574 (267,261 ) (62,313 ) (329,574 ) (1,993,153 ) (929,672 ) 48,136 (35,313 ) (397,909 ) (865,349 ) (4,173,260 ) 219,653 (3,953,607 ) Operating income (expenses) 548,089 1,646,152 212,983 55,664 156,536 156,440 2,775,864 (16,563 ) 2,759,301 Non-operating (20,208 ) 899 32,738 — (5,547 ) 56,829 64,711 (19,140 ) 45,571 Net income (expense) before income tax expense 527,881 1,647,051 245,721 55,664 150,989 213,269 2,840,575 (35,703 ) 2,804,872 Income tax expense (145,167 ) (445,619 ) (67,573 ) (15,308 ) (36,222 ) (41,088 ) (750,977 ) (2,246 ) (753,223 ) Net income (expense) 382,714 1,201,432 178,148 40,356 114,767 172,181 2,089,598 (37,949 ) 2,051,649 (*) These adjustments are performed in order to present intersegment profit or loss adjustments based on managerial accounting as profit or loss in accordance with IFRS. (2) Information on products and services The products of the Group are classified as interest-bearing products such as loans, deposits and debt securities and non-interest non-interest (3) Information on geographical areas Of the Group’s revenue (interest income and non-interest non-current non-current (4) Information about major customers The Group does not have any single customer that generates 10% or more of the Group’s total revenue. |
Cash and cash equivalents
Cash and cash equivalents | 12 Months Ended |
Dec. 31, 2018 | |
Cash and cash equivalents [Abstract] | |
Cash And Cash Equivalents | 6. CASH AND CASH EQUIVALENTS (1) Details of cash and cash equivalents are as follows (Unit: Korean Won in millions): December 31, December 31, Cash 2,009,363 2,107,861 Foreign currencies 617,155 725,083 Demand deposits 3,423,355 3,512,216 Fixed deposits 858,413 402,734 Total 6,908,286 6,747,894 (2) Significant transactions of investing activities and financing activities not involving cash inflows and outflows are as follows (Unit: Korean Won in millions): For the years ended 2017 2018 Changes in other comprehensive income related to valuation of financial assets at FVTOCI — 2,505 Changes in other comprehensive income related to available-for-sale (84,498 ) — Changes in other comprehensive income related to valuation of equity method investments 612 2,958 Changes in other comprehensive income related to valuation gain or loss on cash flow hedge 777 (4,646 ) Changes in financial assets at FVTOCI as a result of debt-equity swap — 14,378 Changes in investments in associates due to debt-equity swap 51,227 — Changes in investments in associates due to accounts transfer (62,571 ) (89,151 ) Changes in unpaid dividends on hybrid equity securities (10,658 ) 3,569 Changes in equity related to assets held for sale 4,145 (4,145 ) Classified to assets held for sale from premises and equipment — 6,243 (3) Adjustments of liabilities from financing activities in current year are as follows (Unit: Korean Won in millions): For the year ended December 31, 2017 January 1, 2017 Cash flow Not involving cash inflows and December 31, 2017 Foreign Variation Others Borrowings 18,769,515 (3,634,883 ) (350,429 ) — 503 14,784,706 Debentures 23,565,449 4,817,701 (478,249 ) (39,373 ) 4,123 27,869,651 Total 42,334,964 1,182,818 (828,678 ) (39,373 ) 4,626 42,654,357 For the year ended December 31, 2018 January 1, 2018 Cash flow Not involving cash inflows and December 31, 2018 Foreign Variation Others Borrowings 14,784,706 1,257,121 161,078 — 81 16,202,986 Debentures 27,869,651 612,331 267,339 (25,498 ) 12,039 28,735,862 Total 42,654,357 1,869,452 428,417 (25,498 ) 12,120 44,938,848 |
Financial assets at fair value
Financial assets at fair value through profit or loss | 12 Months Ended |
Dec. 31, 2018 | |
Financial assets at fair value through profit or loss [Abstract] | |
Disclosure of financial assets at fair value through profit or loss | 7. FINANCIAL ASSETS AT FVTPL (1) Financial assets at FVTPL are as follows (Unit: Korean Won in millions): December 31, December 31, Financial assets at fair value through profit or loss mandatorily measured at fair value — 6,126,316 Financial assets held for trading 5,820,787 — Financial assets designated as at FVTPL 22,290 — Total 5,843,077 6,126,316 (2) Financial assets at fair value through profit or loss mandatorily measured at fair value and financial assets held for trading are as follows (Unit: Korean Won in millions): December 31, December 31, Deposits: Gold banking asset 25,972 26,935 Securities: Debt securities Korean treasury and government agencies 540,438 516,173 Financial institutions 1,476,498 533,393 Corporates 627,397 774,589 Equity securities 21,666 455,666 Capital contributions — 422,614 Beneficiary certificates 13,041 985,417 Sub-total 2,679,040 3,687,852 Loans — 385,450 Derivative assets 3,115,775 2,026,079 Total 5,820,787 6,126,316 (3) Financial assets at fair value through profit or loss designated as upon initial recognition are nil as of December 31, 2018 and financial assets at fair value through profit or loss designated as upon initial recognition as of December 31, 2017 are as follows (Unit: Korean Won in millions): December 31, Debt securities 9,694 Equity securities 12,596 Total 22,290 |
Financial assets at fair valu_2
Financial assets at fair value through other comprehensive income and available for sale financial assets | 12 Months Ended |
Dec. 31, 2018 | |
Financial assets at fair falue through other comprehensive income and available-for-sale financial assets [Abstract] | |
Available For Sale Financial Assets And Financial Assets at Fair Value Through Other Comprehensive Income | 8. AFS FINANCIAL ASSETS AND FINANCIAL ASSETS AT FVTOCI (1) Detail of AFS financial assets as of December 31, 2017 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2017 Amortized cost Cumulative gains on Cumulative losses on Fair value Debt securities: Korean treasury and government agencies 2,338,760 1,193 (9,386 ) 2,330,567 Financial institutions 5,225,921 1,504 (10,159 ) 5,217,266 Corporates 2,727,016 3,851 (5,635 ) 2,725,232 Asset-backed securities 309,518 — (1,337 ) 308,181 Bond denominated in foreign currencies 2,449,954 3,100 (10,475 ) 2,442,579 Others 35,154 21 (12 ) 35,163 Sub-total 13,086,323 9,669 (37,004 ) 13,058,988 Equity securities 982,393 430,921 (2,236 ) 1,411,078 Beneficiary certificates 697,655 18,701 (3,728 ) 712,628 Securities loaned 169,988 664 (396 ) 170,256 Total 14,936,359 459,955 (43,364 ) 15,352,950 (2) Details of financial assets at FVTOCI as of December 31, 2018 are as follows (Unit: Korean Won in millions): December 31, 2018 Debt securities: Korean treasury and government agencies 1,358,378 Financial institutions 11,252,790 Corporates 1,824,843 Bond denominated in foreign currencies 2,636,209 Sub-total 17,072,220 Equity securities 951,174 Securities loaned 40,029 Total 18,063,423 (3) Details of equity securities designated as financial assets at FVTOCI as of December 31, 2018 are as follows (Unit: Korean Won in millions): December 31, 2018 Purpose of acquisition Fair value Strategic business partnership 662,934 Debt-equity swap 287,990 Others (Cooperative insurance, etc.) 250 Total 951,174 (4) Changes in the loss allowance and gross carrying amount of financial assets at FVTOCI are as follows (Unit: Korean Won in millions): 1) Loss allowance For the year ended December 31, 2018 Stage 1 Stage 2 Stage 3 Total Beginning balance (*1) (4,107 ) (129 ) — (4,236 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net provision of loss allowance (1,918 ) (109 ) — (2,027 ) Others (*2) 86 — — 86 Ending balance (5,939 ) (238 ) — (6,177 ) (*1) The beginning balance was restated in accordance with IFRS 9. (*2) Others consist of foreign currencies translation, etc. 2) Gross carrying amount For the year ended December 31, 2018 Stage 1 Stage 2 Stage 3 Total Beginning balance 12,843,997 30,212 — 12,874,209 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Acquisition 13,275,429 10,000 — 13,285,429 Disposal (9,146,307 ) (15,047 ) — (9,161,354 ) Gain (loss) on valuation 70,017 (59 ) — 69,958 Amortization on the effective interest method 10,195 47 — 10,242 Others (*) 33,765 — — 33,765 Ending balance 17,087,096 25,153 — 17,112,249 (*) Others consist of foreign currencies translation, etc. (5) The Group disposed equity securities designated as financial assets at FVTOCI as the creditors determined to sell the securities for the year ended December 31, 2018. The fair value and accumulative gain on valuation of that equity securities at disposal date are 9,379 million Won and 1,392 million Won, respectively. |
Securities at amortized cost an
Securities at amortized cost and held to maturity financial assets | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of securities at amortised cost and held to maturity financial assets [Abstract] | |
Held To Maturity Financial Assets And Securities At Amortized Cost | 9. HTM FINANCIAL ASSETS AND SECURITIES AT AMORTIZED COST (1) Details of HTM financial assets as of December 31, 2017 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2017 Amortized cost Cumulative gains on Cumulative losses on Fair value Korean treasury and government agencies 3,994,857 6,944 (15,266 ) 3,986,535 Financial institutions 7,245,426 2,923 (15,067 ) 7,233,282 Corporates 5,311,970 12,367 (25,326 ) 5,299,011 Bond denominated in foreign currencies 197,043 832 (1,024 ) 196,851 Total 16,749,296 23,066 (56,683 ) 16,715,679 (2) Details of securities at amortized cost as of December 31, 2018 are as follows (Unit: Korean Won in millions): December 31, 2018 Korean treasury and government agencies 7,523,458 Financial institutions 9,474,922 Corporates 5,707,063 Bond denominated in foreign currencies 234,041 Loss allowance (6,925 ) Total 22,932,559 (3) Changes in the loss allowance and gross carrying amount of securities at amortized cost are as follows (Unit: Korean Won in millions): 1) Loss allowance For the year ended December 31, 2018 Stage 1 Stage 2 Stage 3 Total Beginning balance (*1) (5,078 ) — — (5,078 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net provision of loss allowance (1,922 ) — — (1,922 ) Disposal 22 — — 22 Others (*2) 54 — — 54 Ending balance (6,924 ) — — (6,924 ) (*1) The beginning balance was restated in accordance with IFRS 9. (*2) Others consist of foreign currencies translation, etc. 2) Gross carrying amount For the year ended December 31, 2018 Stage 1 Stage 2 Stage 3 Total Beginning balance 16,749,296 — — 16,749,296 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Acquisition 15,622,847 — — 15,622,847 Disposal / Redemption (9,426,757 ) — — (9,426,757 ) Amortization on the effective interest method (7,970 ) — — (7,970 ) Others (*) 2,068 — — 2,068 Ending balance 22,939,484 — — 22,939,484 (*) Others consist of foreign currencies translation, etc. |
Loans and other financial asset
Loans and other financial assets at amortized cost and loans and receivables | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of loans and other financial assets at amortized cost and loans and receivables [Abstract] | |
Loans and Receivables and Loans And Other Financial Assets at Amortized Cost | 10. LOANS AND RECEIVABLES, AND LOANS AND OTHER FINANCIAL ASSETS AT AMORTIZED COST (1) Details of loans and receivables as of December 31, 2017 and loans and other financial assets at amortized cost as of December 31, 2018 are as follows (Unit: Korean Won in millions): December 31, December 31, Due from banks 8,868,378 14,151,012 Loans 251,523,301 260,819,917 Other financial assets(other receivables) 6,714,525 7,486,649 Total 267,106,204 282,457,578 (2) Details of due from banks are as follows (Unit: Korean Won in millions): December 31, December 31, Due from banks in local currency: Due from The Bank of Korea (“BOK”) 6,246,496 11,034,602 Due from depository banks 30,003 90,988 Due from non-depository 150 76 Due from the Korea Exchange 50,000 30,000 Others 97,365 85,915 Loss allowance (1,541 ) (3,069 ) Sub-total 6,422,473 11,238,512 Due from banks in foreign currencies: Due from banks on demand 794,353 828,022 Due from banks on time 972,915 1,288,303 Others 679,554 798,493 Loss allowance (917 ) (2,318 ) Sub-total 2,445,905 2,912,500 Total 8,868,378 14,151,012 (3) Details of restricted due from banks are as follows (Unit: Korean Won in millions): Counterparty December 31, Reason of restriction Due from banks in local currency: Due from BOK The BOK 6,246,496 Reserve deposits under the BOK Act Others The Korea Exchange and others 94,394 Central counterparty KRW margin and others Sub-total 6,340,890 Due from banks in foreign currencies: Due from banks on demand The BOK and others 787,520 Reserve deposits under the BOK Act and others Others The People’s Bank of China and others 367,108 Reserve deposits and others Sub-total 1,154,628 Total 7,495,518 Counterparty December 31, Reason of restriction Due from banks in local currency: Due from BOK The BOK 11,034,602 Reserve deposits under the BOK Act Others The Korea Exchange and others 81,889 Central counterparty KRW margin and others Sub-total 11,116,491 Due from banks in foreign currencies: Due from banks on demand The BOK and others 780,576 Reserve deposits under the BOK Act and others Others Korea Investment & Securities and others 798,493 Overseas futures and options trade deposits and others Sub-total 1,579,069 Total 12,695,560 (4) Changes in the loss allowance and gross carrying amount of due from banks for the year ended December 31, 2018 are as follows (Unit: Korean Won in millions): 1) Loss allowance For the year ended December 31, 2018 Stage 1 Stage 2 Stage 3 Total Beginning balance (*1) (3,092 ) — — (3,092 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net provision of loss allowance (2,219 ) — — (2,219 ) Others (*2) (76 ) — — (76 ) Ending balance (5,387 ) — — (5,387 ) (*1) The beginning balance was restated in accordance with IFRS 9. (*2) Others consist of foreign currencies translation and etc. 2) Gross carrying amount For the year ended December 31, 2018 Stage 1 Stage 2 Stage 3 Total Beginning balance 8,870,835 — — 8,870,835 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net increase 5,302,244 — — 5,302,244 Other (16,680 ) — — (16,680 ) Ending balance 14,156,399 — — 14,156,399 (5) Details of loans are as follows (Unit: Korean Won in millions): December 31, December 31, Loans in local currency 200,213,230 210,701,421 Loans in foreign currencies 13,147,888 15,239,032 Domestic banker’s letter of credit 2,516,907 2,934,366 Credit card accounts 6,827,295 8,051,384 Bills bought in foreign currencies 8,197,159 7,874,457 Bills bought in local currency 334,714 22,885 Factoring receivables 137,523 45,851 Advances for customers on guarantees 23,620 13,810 Private placement bonds 362,319 365,531 Securitized loans 563,152 1,377,072 Call loans 3,003,455 2,669,080 Bonds purchased under resale agreements 16,859,064 11,701,951 Others 607,325 1,037,283 Loan origination costs and fees 510,860 574,178 Discounted present value (10,988 ) (10,308 ) Loss allowance (1,770,222 ) (1,778,076 ) Total 251,523,301 260,819,917 (6) Changes in the loss allowances on loans and receivables for the year ended December 31, 2016 and 2017, are as follows (Unit: Korean Won in millions): For the year ended December 31, 2016 Consumers Corporates Credit card Others Total Beginning balance (203,433 ) (1,686,194 ) (145,810 ) (442,620 ) (2,478,057 ) Net provision (73,356 ) (536,359 ) (207,730 ) (73,318 ) (890,763 ) Recoveries of written-off (53,679 ) (192,183 ) (44,393 ) (19,233 ) (309,488 ) Charge-off 155,424 722,359 242,561 236,857 1,357,201 Sales of loans and receivables 2,055 113,177 — 91,800 207,032 Unwinding effect 10,319 66,901 — — 77,220 Others (*) (1,188 ) 13,457 — (2,510 ) 9,759 Ending balance (163,858 ) (1,498,842 ) (155,372 ) (209,024 ) (2,027,096 ) For the year ended December 31, 2017 Consumers Corporates Credit card Others Total Beginning balance (163,858 ) (1,498,842 ) (155,372 ) (209,024 ) (2,027,096 ) Net reversal (provision) of loss allowance (131,275 ) (539,222 ) (203,968 ) 12,192 (862,273 ) Recoveries of loans previously charged off (45,060 ) (84,413 ) (51,366 ) (68 ) (180,907 ) Charge-off 142,099 453,249 228,640 63,181 887,169 Disposal 898 65,145 — 29,186 95,229 Unwinding effect 8,643 36,548 — — 45,191 Others (*) 908 211,729 1 (193 ) 212,445 Ending balance (187,645 ) (1,355,806 ) (182,065 ) (104,726 ) (1,830,242 ) (*) Others consist of debt-equity swap, foreign currencies translation and etc. Changes in the loss allowance on loans for the year ended December 31, 2018 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2018 Consumers Corporates Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance (*1) (101,479 ) (41,358 ) (117,168 ) (365,251 ) (255,922 ) (905,243 ) Transfer to 12-month (9,848 ) 8,966 882 (24,324 ) 22,658 1,666 Transfer to lifetime expected credit losses 5,905 (7,183 ) 1,278 15,074 (407,780 ) 392,706 Transfer to credit-impaired financial assets 79,078 47,343 (126,421 ) 62,731 97,750 (160,481 ) Net reversal (provision) of loss allowance (86,224 ) (56,164 ) (49,637 ) (68,381 ) 193,392 (94,004 ) Recoveries of loans previously charged off — — (51,855 ) — — (127,630 ) Charge-off — — 204,552 — — 290,109 Disposal — 33 1,633 — 237 49,902 Unwinding effect — — 7,945 — — 23,381 Others (*2) (1,941 ) (5 ) (1,115 ) 31,840 46 1,921 Ending balance (114,509 ) (48,368 ) (129,906 ) (348,311 ) (349,619 ) (527,673 ) For the year ended December 31, 2018 Credit card accounts Sub-total Total Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance (*1) (57,134 ) (71,463 ) (102,858 ) (523,864 ) (368,743 ) (1,125,269 ) (2,017,876 ) Transfer to 12-month (13,846 ) 13,738 108 (48,018 ) 45,362 2,656 — Transfer to lifetime expected credit losses 5,871 (6,194 ) 323 26,850 (421,157 ) 394,307 — Transfer to credit-impaired financial assets 82,406 84,048 (166,454 ) 224,215 229,141 (453,356 ) — Net reversal (provision) of loss allowance (82,083 ) (98,260 ) (33,205 ) (236,688 ) 38,968 (176,846 ) (374,566 ) Recoveries of loans previously charged off — — (57,565 ) — — (237,050 ) (237,050 ) Charge-off — — 242,879 — — 737,540 737,540 Disposal — — — — 270 51,535 51,805 Unwinding effect — — — — — 31,326 31,326 Others (*2) (1 ) — — 29,898 41 806 30,745 Ending balance (64,787 ) (78,131 ) (116,772 ) (527,607 ) (476,118 ) (774,351 ) (1,778,076 ) (*1) The beginning balance was restated in accordance with IFRS 9. (*2) Others consist of debt-equity swap, foreign currencies translation and etc. (7) Changes in the gross carrying amount of loans for the year ended December 31, 2018 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2018 Consumers Corporates Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance 103,502,347 5,487,758 326,739 131,096,396 4,466,354 1,622,409 Transfer to 12-month 1,921,485 (1,912,046 ) (9,439 ) 1,081,702 (1,077,895 ) (3,807 ) Transfer to lifetime expected credit losses (3,186,506 ) 3,199,993 (13,487 ) (2,275,984 ) 2,733,860 (457,876 ) Transfer to credit-impaired financial assets (218,943 ) (127,447 ) 346,390 (348,503 ) (275,189 ) 623,692 Charge-off — — (204,552 ) — — (290,109 ) Disposal — (478 ) (31,910 ) — (2,781 ) (166,347 ) Net increase (decrease) 8,600,859 (619,771 ) (22,247 ) 1,900,116 (813,091 ) (307,304 ) Ending balance 110,619,242 6,028,009 391,494 131,453,727 5,031,258 1,020,658 For the year ended December 31, 2018 Credit card accounts Sub-total Total Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance 5,721,743 935,266 177,983 240,320,486 10,889,378 2,127,131 253,336,995 Transfer to 12-month 221,984 (221,841 ) (143 ) 3,225,171 (3,211,782 ) (13,389 ) — Transfer to lifetime expected credit losses (287,623 ) 288,027 (404 ) (5,750,113 ) 6,221,880 (471,767 ) — Transfer to credit-impaired financial assets (104,459 ) (95,758 ) 200,217 (671,905 ) (498,394 ) 1,170,299 — Charge-off — — (242,879 ) — — (737,540 ) (737,540 ) Disposal — — — — (3,259 ) (198,257 ) (201,516 ) Net increase (decrease) 1,310,199 77,078 74,215 11,811,174 (1,355,784 ) (255,336 ) 10,200,054 Ending balance 6,861,844 982,772 208,989 248,934,813 12,042,039 1,621,141 262,597,993 (8) Details of other financial assets (other receivables) are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 CMA accounts 135,000 185,999 Receivables 4,459,318 4,864,738 Accrued income 1,026,273 1,002,964 Telex and telephone subscription rights and refundable deposits 984,620 986,834 Other receivables 166,877 514,055 Loss allowance (57,563 ) (67,941 ) Total 6,714,525 7,486,649 (9) Changes in the loss allowances on other financial assets for the year ended December 31, 2018 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2018 Stage 1 Stage 2 Stage 3 Total Beginning balance (*1) (2,955 ) (1,832 ) (54,211 ) (58,998 ) Transfer to 12-month (150 ) 139 11 — Transfer to lifetime expected credit losses 105 (416 ) 311 — Transfer to credit-impaired financial assets 6,509 304 (6,813 ) — Net provision of loss allowance (6,583 ) (166 ) (31,550 ) (38,299 ) Charge-off — — 28,200 28,200 Disposal — 1 1,264 1,265 Others (*2) (395 ) (1 ) 287 (109 ) Ending balance (3,469 ) (1,971 ) (62,501 ) (67,941 ) (*1) The beginning balance was restated in accordance with IFRS 9. (*2) Others consist of foreign currencies translation and etc. (10) Changes in the gross carrying amount of other financial assets for the year ended December 31, 2018 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2018 Stage 1 Stage 2 Stage 3 Total Beginning balance 6,662,335 29,124 79,912 6,771,371 Transfer to 12-month 7,573 (7,556 ) (17 ) — Transfer to lifetime expected credit losses (11,418 ) 11,734 (316 ) — Transfer to credit-impaired financial assets (7,580 ) (1,110 ) 8,690 — Charge-off — — (28,201 ) (28,201 ) Disposal — (5 ) (1,640 ) (1,645 ) Net increase and others 803,480 (3,994 ) 13,579 813,065 Ending balance 7,454,390 28,193 72,007 7,554,590 |
Fair value of financial assets
Fair value of financial assets and liabilities | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of fair value measurement [Abstract] | |
The Fair Value Of Financial Assets And Liabilities | 11. FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (1) The fair value hierarchy The fair value hierarchy is determined by the levels of judgment involved in estimating fair values of financial assets and liabilities. The specific financial instruments characteristics and market condition such as volume of transactions and transparency are reflected to the market observable inputs. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities. The Group maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value of its financial assets and financial liabilities. Fair value is measured based on the perspective of a market participant. As such, even when market assumptions are not readily available, the Group’s own assumptions reflect those that market participants would use for measuring the assets or liabilities at the measurement date. The fair value measurement is described in the one of the following three levels used to classify fair value measurements: • Level 1—fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities. The types of financial assets or liabilities generally included in Level 1 are publicly traded equity securities, derivatives, and debt securities issued by governmental bodies. • Level 2— fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. prices) or indirectly (i.e. derived from prices). The types of financial assets or liabilities generally included in Level 2 are debt securities not traded in active markets and derivatives traded in OTC but not required significant judgment. • Level 3— fair value measurements are those derived from valuation technique that include inputs for the assets or liabilities that are not based on observable market data (unobservable inputs). The types of financial assets or liabilities generally included in Level 3 are non-public The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Group’s assessment of the significance of a particular input to a fair value measurement in its entirety requires judgment and consideration of inherent factors of the asset or liability. (2) Fair value hierarchy of financial assets and liabilities measured at fair value are as follows (Unit: Korean Won in millions): December 31, 2017 Level 1 (*1) Level 2 (*1) Level 3 (*2) Total Financial assets: Financial assets held for trading Deposits 25,972 — — 25,972 Debt securities 405,942 2,238,391 — 2,644,333 Equity securities 21,666 — — 21,666 Beneficiary certificates — 13,041 — 13,041 Derivative assets 1,021 3,093,272 21,482 3,115,775 Sub-total 454,601 5,344,704 21,482 5,820,787 Financial assets designated as at FVTPL Debt securities — — 9,694 9,694 Equity securities — — 12,596 12,596 Sub-total — — 22,290 22,290 AFS financial assets Debt securities 2,710,172 10,348,816 — 13,058,988 Equity securities 399,214 — 1,011,864 1,411,078 Beneficiary certificates — 68,722 643,906 712,628 Securities loaned 69,778 100,478 — 170,256 Sub-total 3,179,164 10,518,016 1,655,770 15,352,950 Derivative assets (Designated for hedging) — 59,272 — 59,272 Total 3,633,765 15,921,992 1,699,542 21,255,299 Financial liabilities: Financial liabilities held for trading Deposits due to customers 25,964 — — 25,964 Derivative liabilities 2,613 3,126,585 20,951 3,150,149 Sub-total 28,577 3,126,585 20,951 3,176,113 Financial liabilities designated as at FVTPL Equity-linked securities — — 160,057 160,057 Debentures — 91,739 — 91,739 Sub-total — 91,739 160,057 251,796 Derivative liabilities (Designated for hedging) — 67,754 — 67,754 Total 28,577 3,286,078 181,008 3,495,663 December 31, 2018 Level 1 (*1) Level 2 (*1) Level 3 Total Financial assets: Financial assets at fair value through profit or loss mandatorily measured at fair value Deposits 26,935 — — 26,935 Debt securities 239,794 1,575,972 8,389 1,824,155 Equity securities 53,806 — 401,860 455,666 Capital contributions — — 422,614 422,614 Beneficiary certificates 2,130 128,988 854,299 985,417 Loans — 205,000 180,450 385,450 Derivative assets 13,216 1,964,065 48,798 2,026,079 Sub-total 335,881 3,874,025 1,916,410 6,126,316 Financial assets at FVTOCI Debt securities 1,838,409 15,233,811 — 17,072,220 Equity securities 482,327 — 468,847 951,174 Securities loaned — 40,029 — 40,029 Sub-total 2,320,736 15,273,840 468,847 18,063,423 Derivative assets (Designated for hedging) — 35,503 — 35,503 Total 2,656,617 19,183,368 2,385,257 24,225,242 Financial liabilities: Financial liabilities at fair value through profit or loss mandatorily measured at fair value Deposits due to customers 27,058 — — 27,058 Derivative liabilities 2,245 2,071,925 16,691 2,090,861 Sub-total 29,303 2,071,925 16,691 2,117,919 Financial liabilities at fair value through profit or loss designated as upon initial recognition Equity-linked securities — — 164,767 164,767 Derivative liabilities (Designated for hedging) — 51,408 — 51,408 Total 29,303 2,123,333 181,458 2,334,094 (*1) There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. (*2) Certain unquoted AFS equity securities were measured at cost as of December 31, 2017, that amounted to 37,092 million Won. These unquoted equity instruments mostly represent minority investments in structured entity vehicles, such as asset securitization structures. They are measured at cost because (a) observable inputs of financial information to measure fair value were not available to obtain, (b) there was a significant variance in likely estimated cash flows or (c) the probabilities for various estimated cash flows could not be measured reliably. In addition, the Group has no intention to dispose these investments in the foreseeable future. Financial assets and liabilities at fair value through profit or loss mandatorily measured at fair value, financial liabilities at fair value through profit or loss designated as upon initial recognition, financial assets at FVTOCI, and derivative assets (Designated for hedging) and liabilities (Designated for hedging) are recognized at fair value. Fair value is the amount that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. Financial instruments are measured at fair value using a quoted market price in active markets. If there is no active market for a financial instrument, the Group determines the fair value using valuation methods. Valuation methods and input variables for each type of financial instruments are as follows: Valuation methods Input variables Loans The fair value of Loans is measured by the Binomial tree given the values of underlying assets and volatility. Values of underlying assets, Volatility Debt securities The fair value is measured by discounting the projected cash flows of debt securities by applying the market discount rate that has been applied to a proxy company that has similar credit rating to the issuers of the securities. Risk-free market rate, credit spread Equity securities, capital contributions and Beneficiary certificates Among DCF (Discounted Cash Flow) Model, FCFE (Free Cash Flow to Equity) Model, Comparable Company Analysis, Dividend Discount Model, Risk-adjusted Rate of Return Method, and Net Asset Value Method, more than one method is used given the characteristic of the subject of fair value measurement. Risk-free market rate, market risk premium, Beta, etc. Derivatives The in-house However, for some complicated financial instruments of which valuation should be based on some assumptions since some significant or all inputs to be used in the model are not observable in the market, the in-house Risk-free market rate, forward rate, volatility, foreign exchange rate, stock prices, etc. Equity-linked securities The fair value of security linked to stock prices or derivatives is measured by the models such as DCF model, FDM, or Monte Carlo Simulation given the natures of the securities or underlying assets. Values of underlying assets, risk-free market rate, market rate, dividend and convenience yield, volatility, correlation coefficient, credit spread, and foreign exchange rate Debentures The fair value is measured by discounting the projected cash flows of a debenture by applying the market discount rate that is reflecting credit rating of the Group. Risk-free market rate, forward rate Valuation methods of financial assets and liabilities measured at fair value and classified into Level 3 and significant but unobservable inputs are as follows: Fair value Input variable Range Impact of changes in significant unobservable Loans Binomial tree Stock, Volatility of underlying asset 15.49%~36.96% Fair value increases as volatility of underlying asset increases. Derivative assets Option valuation model and others Correlation coefficient 0.9~0.98 Variation of fair value increases as correlation coefficient increases. Volatility of underlying asset 14.00%~34.28% Variation of fair value increases as volatility increases. Derivative liabilities Option valuation model and others Correlation coefficient 0.9~0.98 Variation of fair value increases as correlation coefficient increases. Volatility of underlying asset 14.00%~34.28% Variation of fair value increases as volatility increases. Equity-linked securities Monte Carlo Simulation and others Correlation coefficient 0.005~0.658 Equity-linked securities’ variation of fair value increases if both volatility and correlation coefficient increase. However, when correlation coefficient decreases despite the increase in volatility, the variation of fair value of a compound financial instrument may decrease. Volatility of underlying asset 22.09%~31.19% Equity securities, capital contributions and Beneficiary certificates External appraisal value and others Terminal growth rate 0.00% Fair value increases as terminal growth rate increases. Discount rate 3.67%~17.40% Fair value increases as discount rate decreases. Volatility of real estate sale price 0.00% Fair value increases as volatility of real estate sale price increases. Fair value of financial assets and liabilities classified into Level 3 is measured by the Group using its own valuation methods or using external specialists. Unobservable inputs used in the fair value measurements are produced by the internal system of the Group and the appropriateness of inputs is reviewed regularly. (3) Changes in financial assets and liabilities measured at fair value classified into Level 3 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2016 January 1, 2016 Net Income (*1) Other income (loss) Purchases/ Issuances Disposals/ Settlements Transfer to or (*2) December 31, Financial assets: Financial assets held for trading Derivative instrument assets (*3) 78,676 (29,117 ) — 13,640 (39,506 ) (540 ) 23,153 Financial assets designed at FVTPL Debt securities 986 (161 ) — 4,509 (986 ) — 4,348 Equity securities 11,609 1,043 — — — — 12,652 Sub-total 12,595 882 — 4,509 (986 ) — 17,000 AFS financial assets Equity securities (*4) 993,368 (6,986 ) 57,323 205,749 (205,348 ) (19,171 ) 1,024,935 Beneficiary certificates 377,070 (868 ) 5,794 174,024 (25,509 ) — 530,511 Others 5,308 594 (643 ) — (5,259 ) — — Sub-total 1,375,746 (7,260 ) 62,474 379,773 (236,116 ) (19,171 ) 1,555,446 Derivative assets 5,973 3,877 — — (9,751 ) — 99 Total 1,472,990 (31,618 ) 62,474 397,922 (286,359 ) (19,711 ) 1,595,698 Financial liabilities: Financial liabilities held for trading Derivative liabilities 78,607 (8,322 ) — 1,155 (37,916 ) — 33,524 Financial liabilities designated at FVTPL Equity-linked securities 747,351 71,079 — — (144,721 ) — 673,709 Total 825,958 62,757 — 1,155 (182,637 ) — 707,233 (*1) The losses that increase financial liabilities are presented as positive amounts, and the gains that decrease financial liabilities are presented as negative amounts. The loss amounting to 94,238 million Won for the year ended December 31, 2016, which is from financial assets and liabilities that the Group holds, has been recognized in net gain (loss) on financial instruments at FVTPL and net gain (loss) on AFS financial assets in the statement of comprehensive income. (*2) The Group recognizes transfers between levels at the end of reporting period within which events have occurred or conditions have changed. (*3) As the variables used for the valuation of currency related derivatives became observable in the market, such derivatives were transferred out of Level 3 to Level 2. (*4) AFS financial assets were transferred out of level 1 to level 3 upon the change of the fair value measurement method of the assets by using market the external valuation specialists from previously using quoted prices in the active market, in the opposite case, they were transferred out of level 3 to level 1. For the year ended December 31, 2017 January 1, 2017 Net Income (*1) Other Purchases/ Issuances Disposals/ Settlements Transfer to or (*2) December 31, Financial assets: Financial assets held for trading Derivative assets 23,153 22,362 — 1,398 (25,431 ) — 21,482 Financial assets designed at FVTPL Debt securities 4,348 346 — 5,000 — — 9,694 Equity securities 12,652 (56 ) — — — — 12,596 Sub-total 17,000 290 — 5,000 — — 22,290 AFS financial assets Equity securities 1,024,935 27,986 24,442 65,961 (131,460 ) — 1,011,864 Beneficiary certificates 530,511 212 (4,321 ) 226,975 (109,471 ) — 643,906 Sub-total 1,555,446 28,198 20,121 292,936 (240,931 ) — 1,655,770 Derivative assets 99 329 — — (428 ) — — Total 1,595,698 51,179 20,121 299,334 (266,790 ) — 1,699,542 Financial liabilities: Financial liabilities held for trading Derivative liabilities 33,524 24,866 — 500 (37,939 ) — 20,951 Financial liabilities designated as at FVTPL Equity-linked securities 673,709 112,015 — — (625,667 ) — 160,057 Total 707,233 136,881 — 500 (663,606 ) — 181,008 (*1) The losses that increase financial liabilities are presented as positive amounts, and the gains that decrease financial liabilities are presented as negative amounts. The loss amounting to 34,621 million Won for the year ended December 31, 2017, which is from financial assets and liabilities that the Group holds, has been recognized in net gain (loss) on financial instruments at FVTPL and net gain (loss) on AFS financial assets in the statement of comprehensive income. (*2) The Group recognizes transfers between levels at the end of reporting period within which events have occurred or conditions have changed. For the year ended December 31, 2018 January 1, Net (*1) Other Purchases/ issuances Disposals/ settlements Transfer to or (*2) December 31, Financial assets: Financial assets at fair value through profit or loss mandatorily measured at fair value Debt securities 9,694 (28 ) — 3,000 (4,277 ) — 8,389 Equity securities 280,171 56,271 — 67,953 (2,535 ) — 401,860 Capital contributions 294,121 16,119 — 144,207 (31,833 ) — 422,614 Beneficiary certificates 654,066 16,391 — 5,151,535 (4,971,003 ) 3,310 854,299 Loans 165,001 3,378 — 150,103 (138,032 ) — 180,450 Derivative assets 19,346 75,696 — 4,722 (50,966 ) — 48,798 Sub-total 1,422,399 167,827 — 5,521,520 (5,198,646 ) 3,310 1,916,410 Financial assets at FVTOCI Equity securities 451,287 — 19,688 432 (2,560 ) — 468,847 Total 1,873,686 167,827 19,688 5,521,952 (5,201,206 ) 3,310 2,385,257 Financial liabilities: Financial liabilities at fair value through profit or loss mandatorily measured at fair value Derivative liabilities 20,951 46,409 — 255 (50,921 ) (3 ) 16,691 Financial liabilities at fair value through profit or loss designated as upon initial recognition Equity-linked securities 160,057 (16,243 ) — 183,039 (162,086 ) — 164,767 Total 181,008 30,166 — 183,294 (213,007 ) (3 ) 181,458 (*1) The losses that increase financial liabilities are presented as positive amounts, and the gains that decrease financial liabilities are presented as negative amounts. The gain amounting to 137,777 million Won for the years ended December 31, 2018, which is from financial assets and liabilities that the Group holds as at the end of the periods, has been recognized in net gain (loss) on financial assets at FVTPL and net gain (loss) on financial assets at FVTOCI in the consolidated statement of comprehensive income. (*2) The Group recognizes transfers between levels at the end of reporting period within which events have occurred or conditions have changed. (4) Sensitivity analysis on the unobservable inputs used for measuring Level 3 financial instruments The sensitivity analysis of the financial instruments has been performed by classifying with favorable and unfavorable changes based on how changes in unobservable assumptions would have effects on the fluctuations of financial instruments’ value. When the fair value of a financial instrument is affected by more than one unobservable assumption, the below table reflects the most favorable or the most unfavorable changes which resulted from varying the assumptions individually. The sensitivity analysis was performed for two types of level 3 financial instruments: (1) interest rate related derivatives, currency related derivatives, equity related derivatives, equity-linked securities beneficiary certificates and loans of which fair value changes are recognized as net income; (2) equity securities of which fair value changes are recognized as other comprehensive income. Among the financial instruments that are classified as Level 3 amounting to 1,880,550 million Won and 2,566,715 million Won as of December 31, 2017 and 2018 respectively, equity investments of 1,146,751 million Won and 1,642,008 million Won that are considered to provide the best estimate of fair value are excluded from the sensitivity analysis. The following table presents the sensitivity analysis to disclose the effect of reasonably possible volatility on the fair value of a Level 3 financial instruments (Unit: Korean Won in millions): For the year ended December 31, 2016 Net income (loss) Other comprehensive Favorable Unfavorable Favorable Unfavorable Financial assets: Financial assets held for trading Derivative assets (*1) 861 (2,248 ) — — Financial assets designed at FVTPL Debt securities (*4) 19 (18 ) — — Equity securities (*4) 688 (639 ) — — AFS Financial Assets Equity securities (*2)(*3) — — 31,412 (18,551 ) Beneficiary certificates (*3) — — 2,903 (2,571 ) Total 1,568 (2,905 ) 34,315 (21,122 ) Financial liabilities: Financial liabilities held for trading Derivative liabilities (*1) 4,892 (3,568 ) — — Financial liabilities designated at FVTPL Equity-linked securities (*1) 905 (857 ) — — Total 5,797 (4,425 ) — — December 31, 2017 Net income (loss) Other comprehensive Favorable Unfavorable Favorable Unfavorable Financial assets: Financial assets held for trading Derivative assets (*1) 1,234 (526 ) — — Financial assets designated as at FVTPL Debt securities (*4) 265 (309 ) — — Equity securities (*4) 670 (624 ) — — AFS Financial assets Equity securities (*2)(*3) — — 28,583 (15,246 ) Beneficiary certificates (*3) — — 1,861 (1,857 ) Total 2,169 (1,459 ) 30,444 (17,103 ) Financial liabilities: Financial liabilities held for trading Derivative liabilities (*1) 5 (513 ) — — Financial liabilities designated as at FVTPL Equity-linked securities (*1) 8 (7 ) — — Total 13 (520 ) — — December 31, 2018 Net income (loss) Other comprehensive Favorable Unfavorable Favorable Unfavorable Financial assets: Financial assets at FVTPL Derivative assets (*1) 4,578 (4,352 ) — — Loans 146 (127 ) — — Debt securities 68 (35 ) — — Equity securities (*2)(*3) 12,700 (9,165 ) — — Beneficiary certificates (*3) 1,582 (1,582 ) — — Financial assets at FVTOCI Equity securities (*2)(*3) — — 23,798 (10,078 ) Total 19,074 (15,261 ) 23,798 (10,078 ) Financial liabilities: Financial liabilities at fair value through profit or loss mandatorily measured at fair value Derivative liabilities (*1) 2,433 (2,751 ) — — Financial liabilities at fair value through profit or loss designated as upon initial recognition Equity-linked securities (*1) 1,561 (1,669 ) — — Total 3,994 (4,420 ) — — (*1) Fair value changes of equity related derivative assets and liabilities and equity-linked securities are calculated by increasing or decreasing historical volatility of the stock price and correlation, which are major unobservable variables, by 10%, respectively. In the case of interest rate related derivative assets and liabilities, fair value changes are calculated by increasing or decreasing the volatility of interest rate, which are major unobservable variables, by 10%. (*2) Fair value changes of equity securities are calculated by increasing or decreasing growth rate (0~1%) and discount rate or liquidation value (-1~1%). (*3) Even if the sensitivity analysis of the capital contributions and beneficiary certificates is not possible in practice, fair value changes of beneficiary certificates and other securities whose major unobservable variables are composed of the real estate are calculated by increasing or decreasing price fluctuation of real estate which is underlying assets and discount rate by 1%. (*4) Changes of fair value are measured by increasing or decreasing the discount rate by 10%, which is major unobservable variable, respectively. (5) Fair value and carrying amount of financial assets and liabilities that are recorded at amortized cost are as follows (Unit: Korean Won in millions): December 31, 2017 Fair value Book value Level 1 Level 2 Level 3 Total Financial assets: HTM financial assets 1,206,292 15,509,387 — 16,715,679 16,749,296 Loans and receivables — — 265,570,649 265,570,649 267,106,204 Financial liabilities: Deposits due to customers — 234,682,775 — 234,682,775 234,695,084 Borrowings — 14,754,506 — 14,754,506 14,784,706 Debentures — 27,889,781 — 27,889,781 27,869,651 Other financial liabilities — 13,890,789 — 13,890,789 13,892,461 December 31, 2018 Fair value Book value Level 1 Level 2 Level 3 Total Financial assets: Securities at amortized cost 3,618,213 19,417,130 — 23,035,343 22,932,559 Loans and other financial assets at amortized cost — — 282,342,760 282,342,760 282,457,578 Financial liabilities: Deposits due to customers — 248,763,952 — 248,763,952 248,690,939 Borrowings — 16,203,070 — 16,203,070 16,202,986 Debentures — 28,765,251 — 28,765,251 28,735,862 Other financial liabilities — 21,461,397 — 21,461,397 21,442,524 The fair values of financial instruments are measured using quoted market price in active markets. In case there is no active market for financial instruments, the Group determines the fair value using valuation methods. Valuation methods and input variables for financial assets and liabilities that are measured at amortized costs are given as follows: Valuation methods Input variables Securities at amortized cost (HTM financial assets in previous year) The fair value is measured by discounting the projected cash flows of debt securities by applying the market discount rate that has been applied to a proxy company that has similar credit rating to the issuers of the securities. Risk-free market rate and credit spread Loans and other financial assets at amortized cost (Loans and receivables in previous year) The fair value is measured by discounting the projected cash flows of loan products by applying the market discount rate that has been applied to a proxy company that has similar credit rating to the debtor. Risk-free market rate, credit spread and prepayment-rate Deposits due to customers, borrowings, debentures and other financial liabilities The fair value is measured by discounting the projected cash flows of debt products by applying the market discount rate that is reflecting credit rating of the Group. Risk-free market rate and forward rate (6) Financial instruments by category Carrying amounts of financial assets and liabilities by each category are as follows (Unit: Korean Won in millions): December 31, 2017 Financial assets Financial assets AFS financial HTM financial Loans and Derivative assets Total Deposits 25,972 — — 8,868,378 — 8,894,350 Securities 2,701,330 15,352,950 16,749,296 — — 34,803,576 Loans — — — 251,523,301 — 251,523,301 Derivative assets 3,115,775 — — — 59,272 3,175,047 Other financial assets — — — 6,714,525 — 6,714,525 Total 5,843,077 15,352,950 16,749,296 267,106,204 59,272 305,110,799 Financial liabilities December 31, 2017 Financial liabilities at Financial liabilities Derivatives Total Deposits due to customers 25,964 234,695,084 — 234,721,048 Borrowings 160,057 14,784,706 — 14,944,763 Debentures 91,739 27,869,651 — 27,961,390 Derivative liabilities 3,150,149 — 67,754 3,217,903 Other financial liabilities (*) — 13,964,158 — 13,964,158 Total 3,427,909 291,313,599 67,754 294,809,262 (*) Other financial liabilities include 71,697 million Won of financial guarantee liabilities measured at amortized cost included in provisions. December 31, 2018 Financial assets Financial asset at Financial assets Financial assets at Derivative assets Total Deposits 26,935 — 14,151,012 — 14,177,947 Securities 3,687,852 18,063,423 22,932,559 — 44,683,834 Loans 385,450 — 260,819,917 — 261,205,367 Derivative assets 2,026,079 — — 35,503 2,061,582 Other financial assets — — 7,486,649 — 7,486,649 Total 6,126,316 18,063,423 305,390,137 35,503 329,615,379 Financial liabilities December 31, 2018 Financial liabilities at Financial liabilities Derivatives Total Deposits due to customers 27,058 248,690,939 — 248,717,997 Borrowings 164,767 16,202,986 — 16,367,753 Debentures — 28,735,862 — 28,735,862 Derivative liabilities 2,090,861 — 51,408 2,142,269 Other financial liabilities (*) — 21,490,341 — 21,490,341 Total 2,282,686 315,120,128 51,408 317,454,222 (*) Other financial liabilities include 47,817 million Won of financial guarantee liabilities measured at amortized cost included in provisions. (7) Income or expense from financial instruments by category Income or expense from financial assets and liabilities by each category during the years ended December 31, 2016, 2017 and 2018 are as follows (Unit: Korean Won in millions): December 31, 2016 Interest Fees and Provision (reversal) Others Total Financial assets at FVTPL 59,019 — — 187,678 246,697 AFS financial assets 339,518 70,910 (49,741 ) 274,084 634,771 HTM financial assets 360,054 — — — 360,054 Loans and receivables 7,747,013 346,730 (890,763 ) 199,974 7,402,954 Financial liabilities at FVTPL — — — (72,295 ) (72,295 ) Financial liabilities at amortized cost (3,486,060 ) — — 56,962 (3,429,098 ) Derivative assets (liabilities) (Designated for hedging) — — — (98,850 ) (98,850 ) Off-balance — — 56,687 — 56,687 Total 5,019,544 417,640 (883,817 ) 547,553 5,100,920 December 31, 2017 Interest Fees and Provision (reversal) Others Total Financial assets at FVTPL 48,615 — — 6,859 55,474 AFS financial assets 239,030 80,041 (31,300 ) 362,712 650,483 HTM financial assets 307,965 — — — 307,965 Loans and receivables 7,948,069 384,025 (862,273 ) 196,269 7,666,090 Financial liabilities at FVTPL — — — (111,240 ) (111,240 ) Financial liabilities at amortized cost (3,323,029 ) — — 39,373 (3,283,656 ) Derivative assets (liabilities) (Designated for hedging) — — — (109,447 ) (109,447 ) Off-balance — — 77,140 — 77,140 Total 5,220,650 464,066 (816,433 ) 384,526 5,252,809 December 31, 2018 Interest Fees and Provision (reversal) Others Total Financial assets at FVTPL 54,243 86,845 — 264,850 405,938 Financial assets at FVTOCI 280,371 66 (2,027 ) 24,707 303,117 Securities at amortized cost 376,788 — (1,922 ) 431 375,297 Loans and other financial assets at amortized cost 8,973,097 317,316 (415,084 ) 79,101 8,954,430 Financial liabilities at FVTPL (3,164 ) — — 17,485 14,321 Financial liabilities at amortized cost (4,030,384 ) 27,742 — 25,498 (3,977,144 ) Derivative assets (liabilities) (Designated for hedging) — — — (672 ) (672 ) Off-balance — — 89,459 — 89,459 Total 5,650,951 431,969 (329,574 ) 411,400 6,164,746 |
Derecognition and offset of fin
Derecognition and offset of financial instruments | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of derecognition and offsetting of financial assets and liabilities [Abstract] | |
Disclosure of derecognition and offsetting of financial assets and liabilities | 12. DERECOGNITION AND OFFSET OF FINANCIAL INSTRUMENTS (1) Derecognition of financial instruments Transferred financial assets that do not meet the condition of derecognition in their entirety. a) Bonds sold under repurchase agreements The financial instruments that were disposed but the Group agreed to repurchase at the fixed amounts at the same time, so that they did not meet the conditions of derecognition, are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 Assets transferred Financial assets at FVTOCI — 33,588 AFS financial assets 9,998 — Securities at amortized cost — 5,552 HTM financial assets 5,436 — Total 15,434 39,140 Related liabilities Bonds sold under repurchase agreements 3,173 42,907 b) Securities loaned When the Group loans its securities to outside parties, the legal ownerships of the securities are transferred; however, they should be returned at the end of lending period. Therefore, the Group does not derecognize them from the financial statements as it owns majority of risks and benefits from the securities continuously, regardless of the transfer of legal ownership. The carrying amounts of the securities loaned are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, Loaned to Financial assets at FVTOCI Korean financial institution’s debt securities and others — 40,029 Korea Securities Finance Corporation AFS financial assets Korean treasury, government bonds and others 170,256 — Korea Securities Finance Corporation and others Total 170,256 40,029 The details of the transferred financial assets that are not meet the condition of derecognition in their entirety, such as disposal of securities under repurchase agreement or securities loaned, are explained in Note 18. (2) The offset of financial assets and liabilities The Group possesses both the uncollected domestic exchange receivables and the unpaid domestic exchange payable, which satisfy offsetting criteria of IAS 32. Therefore, the total number of uncollected domestic exchange receivables or unpaid domestic exchange payable has been offset with part of unpaid domestic exchange payable or uncollected domestic exchange receivables and has been disclosed in loans at amortized cost and other financial assets (loans and receivables in previous year) or other financial liabilities of the Group’s statements of financial position. The Group possesses the derivative assets, derivative liabilities, receivable spot exchange and payable spot exchange that do not satisfy the offsetting criteria of IAS 32, but provide the Group under the circumstances of the trading party’s defaults, insolvency or bankruptcy, the right of offsetting. Item such as cash collateral cannot satisfy the offsetting criteria of IAS 32, but in accordance with the collateral arrangements and under the circumstances of the trading party’s default, insolvency or bankruptcy, the net amount of derivative assets and derivative liabilities, receivable spot exchange and payable spot exchange can be offset. The Group has entered into a resale and repurchase agreement and accounted it as a collateralized borrowing. The Group has also entered into a resale and purchase agreement and accounted it as a secured loans. The resale and repurchase agreements can have the offsetting right only under the trading party’s default, insolvency or bankruptcy, which do not satisfy the offsetting criteria of IAS 32. The Group recorded the collateralized borrowing in borrowings and the secured loans in loans and receivables. The Group under the repurchase agreements has offsetting right only upon the counterparty’s default, insolvency or bankruptcy; thus, the repurchase agreements are applied by the TBMA/ISMA Global Master Repurchase Agreement, which does not satisfy the offsetting criteria of IAS 32. The Group disclosed bonds purchased under resale agreements as loan at amortized cost and other financial assets (loans and receivables in previous year) and bonds sold under repurchase agreements as borrowings. As of December 31, 2017 and 2018, the financial instruments to be off set and may be covered by master netting agreements and similar agreements are as follows (Unit: Korean Won in millions): December 31, 2017 Gross Gross Net amounts Related amounts not setoff Net amounts Netting Cash Financial assets: Derivative assets (*1) 2,992,476 1,710 2,990,766 5,787,448 174,415 796,629 Receivable spot exchange (*2) 3,767,726 — 3,767,726 Bonds purchased under resale agreements (*2) 16,859,064 — 16,859,064 16,859,064 — — Domestic exchanges settlement credits (*2)(*6) 39,050,227 38,985,354 64,873 — — 64,873 Total 62,669,493 38,987,064 23,682,429 22,646,512 174,415 861,502 December 31, 2017 Gross Gross amounts Net amounts Related amounts not setoff Net amounts Netting Cash Financial liabilities: Derivative liabilities (*1) 3,000,160 1,710 2,998,450 5,866,682 157,750 857,961 Equity-linked securities index in short position (*3) 160,057 — 160,057 Payable spot exchange (*4) 3,723,886 — 3,723,886 Bonds sold under repurchase agreements (*5) 3,173 — 3,173 3,173 — — Domestic exchanges settlement debits (*4)(*6) 40,284,515 38,985,354 1,299,161 1,293,931 — 5,230 Total 47,171,791 38,987,064 8,184,727 7,163,786 157,750 863,191 (*1) The items include derivatives held for trading, derivatives designated for hedging. (*2) The items are included in loans and receivables. (*3) The items are equity linked securities related to derivatives and are included in financial liabilities at fair value through profit or loss mandatorily measured at fair value. (*4) The items are included in other financial liabilities. (*5) The items are included in borrowings. (*6) Certain financial assets and liabilities are presented at as net amounts. December 31, 2018 Gross Gross Net amounts Related amounts not setoff of financial position Net amounts Netting Cash Financial assets: Derivative assets (*1) 1,908,542 — 1,908,542 5,527,117 66,857 515,100 Receivable spot exchange (*2) 4,200,532 — 4,200,532 Bonds purchased under resale agreements (*2) 11,701,951 — 11,701,951 11,701,951 — — Domestic exchange settlement credits (*2)(*6) 30,090,598 29,699,412 391,186 — — 391,186 Total 47,901,623 29,699,412 18,202,211 17,229,068 66,857 906,286 December 31, 2018 Gross Gross Net amounts Related amounts not setoff in the consolidated statement of Net amounts Netting Cash Financial liabilities: Derivative liabilities (*1) 1,862,681 — 1,862,681 5,540,147 115,615 577,713 Equity-linked securities index in short position (*3) 164,767 — 164,767 Payable spot exchange (*4) 4,206,027 — 4,206,027 Bonds sold under repurchase agreements (*5) 42,907 — 42,907 42,907 — — Domestic exchange settlement debits (*4)(*6) 36,832,774 29,699,412 7,133,362 6,231,538 — 901,824 Total 43,109,156 29,699,412 13,409,744 11,814,592 115,615 1,479,537 (*1) The items include derivatives held for trading, derivatives designated for hedging. (*2) The items are included in loan at amortized cost and other financial assets. (*3) The items are equity linked securities related to derivatives and are included in financial liabilities at FVTPL. (*4) The items are included in other financial liabilities. (*5) The items are included in borrowings. (*6) Certain financial assets and liabilities are presented as net amounts. |
Investment in Joint Ventures an
Investment in Joint Ventures and Associates | 12 Months Ended |
Dec. 31, 2018 | |
Equity Method Investments And Joint Ventures [Abstract] | |
Investment In Joint Ventures And Associates | 13. INVESTMENTS IN JOINT VENTURES AND ASSOCIATES (1) Investments in joint ventures and associates accounted for using the equity method of accounting are as follows: Percentage of ownership Financial Joint ventures and Associates Main business December 31, December 31, Woori Bank: Kumho Tire Co., Inc. (*1) Manufacturing 14.2 — — Woori Service Networks Co., Ltd. (*4) Freight & staffing services 4.9 4.9 Nov.30,2018 (*3) Korea Credit Bureau Co., Ltd. (*5) Credit information 9.9 9.9 Dec.31,2018 Korea Finance Security Co., Ltd. (*4) Security service 15.0 15.0 Nov.30,2018 (*3) Chin Hung International Inc. (*2) Construction 25.3 25.3 Nov.30,2018 (*3) Poonglim Industrial Co., Ltd. (*9) Construction 29.4 — — STX Engine Co., Ltd. (*10) Manufacturing 29.2 — — STX Corporation (*10) Wholesale of non-specialized 19.7 — — Saman Corporation (*5) General construction Technology service 9.2 9.2 Sep.30,2018 (*3) Dongwoo C & C Co., Ltd. (*6) Construction 23.2 24.5 — SJCO Co., Ltd. (*6) Aggregate transportation and wholesale 26.5 26.5 — G2 Collection Co., Ltd. (*6) Wholesale and retail sales 28.9 28.9 — The Base Enterprise Co., Ltd. (*6) Manufacturing 48.4 48.4 — Kyesan Engineering Co., Ltd. (*6) Construction 23.2 23.3 — Good Software Lab Co., Ltd. (*6) Service 28.9 29.4 — Wongwang Co., Ltd. (*6) Wholesale and real estate 29.0 29.0 — Sejin Construction Co., Ltd. (*6) Construction 29.6 29.6 — QTS Shipping Co., Ltd. (*6) Complex transportation brokerage 49.4 49.4 — DAEA SNC Co., Ltd. (*6) Wholesale and retail sales 24.0 24.0 — ARES-TECH Co., Ltd. (*6) Electronic component manufacturing 23.4 23.4 — Force TEC Co., Ltd. (*6)(*7) Manufacturing — 25.8 — Sinseong Trading Co., Ltd. (*6)(*7) Manufacturing — 27.2 — Reading Doctors Co., Ltd. (*6) Other services 35.4 35.4 — PREXCO Co., Ltd. (*6) Manufacturing 28.1 28.1 — Hyunwoo International Co., Ltd. (*11) Manufacturing 25.9 — — Jiwon Plating Co., Ltd. (*6) Plating 20.5 20.8 — Cultizm Korea LTD Co., Ltd. (*6) Wholesale and retail sales 31.3 31.3 — Gil Co.,Ltd. (*6) Manufacturing 26.1 26.1 — NK Eng Co., Ltd. (*6) Manufacturing 23.1 23.1 — Youngdong Sea Food Co., Ltd. (*6)(*7) Processed sea food manufacturing — 24.0 — Woori Growth Partnerships New Technology Private Equity Fund Other financial services 23.1 23.1 Dec.31,2018 2016KIF-IMM Other financial services 20.0 20.0 Dec.31,2018 K BANK Co., Ltd. (*5) Finance 13.0 14.1 Nov.30,2018 (*3) Smart Private Equity Fund No.2 Other financial services 20.0 20.0 Dec.31,2018 Woori Bank-Company K Korea Movie Asset Fund Other financial services 25.0 25.0 Dec.31,2018 Well to Sea No. 3 Private Equity Fund (*12) Finance 50.0 50.0 Sep.30,2018 (*3) Partner One Value Up Ist Private Equity Fund (*8) Other financial services — 23.3 Dec.31,2018 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership (*8) Other financial services — 20.0 Dec.31,2018 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund (*8) Other financial services — 25.0 Dec.31,2018 Woori Investment Bank Co., Ltd.: Nomura-Rifa Private Real Estate Investment Trust No.17 (*5) Other financial services 25.0 19.4 Dec.31,2018 Woori Private Equity Asset Management Co., Ltd.: Uri Hanhwa Eureka Private Equity Fund (*5)(*8) Other financial services — 0.8 Dec.31,2018 (*1) The Group did not have significant influence over the entity due to the termination of the joint management procedures of the creditors’ financial institution, and thus the entity was excluded from the investment in associates for the years ended December 31, 2018. (*2) The investments in associates that have quoted market prices are Chin Hung International Inc. (current period: KRW 2,065, previous year: KRW 1,915). (*3) The significant transactions and events between the end of reporting period of the associates and the Group have been properly incorporated. (*4) Most of the significant business transactions of associates are with the Group as of December 31, 2017 and 2018. (*5) The Group can participate in decision-making body and exercise significant influence over associates through business partnerships. (*6) The carrying values of investments in associates are nil as of December 31, 2017 and 2018. (*7) Even though the Group’s ownership ratio of the entity was more than 20%, the Group did not have significant influence over the entity because the entity was going through workout process under receivership and thus was excluded from the investment in associates. However, as the workout process was completed for the year ended December 31, 2018, it has been included in the investment in associates. (*8) Due to capital contribution by the Group for the year ended December 31, 2018, the entities has been included in the investment in associates. (*9) The Group lost significant influence over the entity due to the stock consolidation and the capital increase of the associate during the year ended December 31, 2018, and thus the entity was excluded from the list of associates. (*10) The entity was sold after it was transferred to assets held for sale and was excluded from the investment in associates. (*11) The entity was excluded from the associate as the group sold its entire stake during the year ended December 31, 2018. (*12) The Group has entered into a contract whereas the Group (or a third party designated by the Group) obtains a preemptive right to acquire the base assets (Aju Capital Co. Ltd.) of Well to Sea No. 3 Private Equity Fund, an affiliate of the Group, when the Fund disposes them. (2) Changes in the carrying value of investments in joint ventures and associates accounted for using the equity method of accounting are as follows (Unit: Korean Won in millions): For the year ended December 31, 2016 Acquisition cost January 1, Share of Acquisition (*1) Disposal and (*2) Dividends Change in Impairment December 31, Woori Blackstone Korea Opportunity Private Equity Fund No.1 43,917 56,044 10,093 — (37,036 ) (13,812 ) — — 15,289 Kumho Tire Co., Inc. 175,652 214,050 (13,172 ) — — — (546 ) — 200,332 Woori Service Networks Co., Ltd. 108 139 18 — — (12 ) — — 145 Korea Credit Bureau Co., Ltd. 3,313 5,291 436 — — (135 ) — — 5,592 Korea Finance Security Co., Ltd. 3,266 3,711 (281 ) — — (54 ) — — 3,376 United PF 1st Corporate financial stability 172,441 187,592 3,265 — (190,857 ) — — — — Chin Hung International Inc. 89,725 43,936 (996 ) — — — 92 — 43,032 Poonglim Industrial Co., Ltd. 13,916 5,313 (2,378 ) — — — (2,935 ) — — STX Engine Co., Ltd. 92,038 51,276 (6,665 ) — — — (1,575 ) — 43,036 Samho Co., Ltd. 7,492 14,325 5,392 — — — 12 — 19,729 STX Corporation 42,215 4,251 (4,222 ) — — — (29 ) — — Osung LST Co., Ltd. 15,405 10,985 (2,903 ) — (6,909 ) — — (1,173 ) — Saman Corporation 8,521 8,521 252 — — — (74 ) — 8,699 K-Growth 800 — (13 ) 800 (787 ) — — — — Woori Growth Partnerships New Technology Private Equity Fund 13,602 — (640 ) 13,602 — — 156 — 13,118 2016KIF-IMM 1,800 — — 1,800 — — — — 1,800 K BANK Co.,Ltd. 32,500 — (1,589 ) 32,500 — — (469 ) — 30,442 Woori Renaissance Holdings 63,000 37,121 17,303 — — (2 ) — — 54,422 Woori Columbus First PEF 1,200 1,306 (43 ) — (1,065 ) (198 ) — — — Total 780,911 643,861 3,857 48,702 (236,654 ) (14,213 ) (5,368 ) (1,173 ) 439,012 (*1) AFS financial assets decreased by 5,421 million Won due to transfers to investments in associates during the year ended December 31, 2016. (*2) The transfers from investments in associates to AFS financial assets amounted to 155,220 million Won and the transfers from investments in associates to assets held for sale amounted to 6,909 million Won during the year ended December 31, 2016. For the year ended December 31, 2017 Acquisition January 1, Share of Acquisition (*) Disposal and Dividends Change in Impairment Others (*) December 31, Woori Blackstone Korea Opportunity No.1 Private Equity Fund — 15,289 (4,617 ) — (7,369 ) (3,303 ) — — — — Kumho Tire Co., Inc. 175,652 200,332 (102 ) — — — 1,545 (102,842 ) — 98,933 Woori Service Networks Co., Ltd. 108 145 21 — — (8 ) — — — 158 Korea Credit Bureau Co., Ltd. 3,313 5,592 371 — — (147 ) — — — 5,816 Korea Finance Security Co., Ltd. 3,266 3,376 197 — — (54 ) — — — 3,519 Chin Hung International Inc. 89,725 43,032 (14,375 ) 41,053 — — 1,535 — (26,144 ) 45,101 Poonglim Industrial Co., Ltd. 13,916 — (6,733 ) — — — — — 6,733 — STX Engine Co., Ltd. 92,038 43,036 (1,010 ) — (46,217 ) — 4,191 — — — Samho Co., Ltd. 7,492 19,729 2,021 — (16,354 ) — (73 ) (5,323 ) — — STX Corporation 42,215 — (29,788 ) 8,546 — — 417 — 27,772 6,947 Saman Corporation 8,521 8,699 (733 ) — — — 26 (6,738 ) — 1,254 Woori Growth Partnerships New Technology Private Equity Fund 13,602 13,118 (582 ) 15,729 (498 ) — (156 ) — — 27,611 2016KIF-IMM 1,800 1,800 — 5,040 — — — — — 6,840 K BANK Co., Ltd. 32,500 30,442 (11,381 ) 12,892 — — (245 ) — 27 31,735 Smart Private Equity Fund No.2 3,000 — (68 ) 3,000 — — — — — 2,932 Woori Bank-Company K Korea Movie Asset Fund 1,500 — (43 ) 3,000 — — — — — 2,957 Well to Sea No.3 Private Equity Fund 102,500 — 80,894 102,500 (508 ) — (577 ) — — 182,309 Woori Renaissance Holdings — 54,422 (622 ) — — (57,109 ) — — 3,309 — Nomura-Rifa Private Real Estate Investment Trust No.17 1,000 — (61 ) 1,000 — — — — — 939 592,148 439,012 13,389 192,760 (70,946 ) (60,621 ) 6,663 (114,903 ) 11,697 417,051 (*) Changes in investments in joint ventures and associates due to debt-equity swap is 51,227 million Won. For the year ended December 31, 2018 Acquisition January 1, Share of (losses) Acquisition Disposal and others (*) Dividends Change in Impairment Others December 31, Kumho Tire Co., Inc. 175,652 98,933 (10,451 ) — (83,286 ) — (5,196 ) — — — Woori Service Networks Co., Ltd. 108 158 1 — — (2 ) — — — 157 Korea Credit Bureau Co., Ltd. 3,313 5,816 1,087 — — (113 ) — — — 6,790 Korea Finance Security Co., Ltd. 3,267 3,519 (10 ) — — (54 ) 1 — — 3,456 Chin Hung International Inc. 130,779 45,101 1,206 — — — (1,725 ) — 159 44,741 Poonglim Industrial Co., Ltd. 13,916 — — — — — — — — — STX Corporation 50,760 6,947 (816 ) — (5,865 ) — (266 ) — — — Saman Corporation 8,521 1,254 (98 ) — — — 35 (177 ) — 1,014 Woori Growth Partnerships New Technology Private Equity Fund 25,847 27,611 950 360 (3,346 ) (484 ) — — — 25,091 2016KIF-IMM 15,000 6,840 — 8,160 — — 300 — — 15,300 K BANK Co., Ltd. 67,343 31,735 (10,705 ) 21,951 — — 144 — 584 43,709 Smart Private Equity Fund No.2 3,000 2,932 (42 ) — — — — — — 2,890 Woori Bank-Company K Korea Movie Asset Fund 3,000 2,957 (257 ) — — — — — — 2,700 Well to Sea No.3 Private Equity Fund 101,992 182,309 22,546 — (508 ) (517 ) (6,437 ) — — 197,393 Partner One Value Up Ist Private Equity Fund 10,000 — (52 ) 10,000 — — — — — 9,948 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 4,426 — — 4,426 — — — — — 4,426 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 3,025 — — 3,025 — — — — — 3,025 Nomura-Rifa Private Real Estate Investment Trust No.17 1,000 939 (152 ) — — — — — — 787 Uri Hanhwa Eureka Private Equity Fund 350 — (11 ) 350 — — — — — 339 621,299 417,051 3,196 48,272 (93,005 ) (1,170 ) (13,144 ) (177 ) 743 361,766 (*) Investments in joint ventures and associates decreased by 83,286 million Won through transfers to financial assets at FVTOCI (IFRS 9) which occurred during the year ended December 31, 2018. (3) Summary financial information relating to investments in joint ventures and associates accounted for using the equity method of accounting is as follows (Unit: Korean Won in millions): December 31, 2017 Assets Liabilities Operating Net income Kumho Tire Co., Inc. 5,105,107 3,928,327 2,136,569 (61,748 ) Woori Service Networks Co., Ltd. 4,982 1,780 14,887 1,003 Korea Credit Bureau Co., Ltd. 75,504 19,323 68,750 3,580 Korea Finance Security Co., Ltd. 33,915 10,461 55,610 1,071 Chin Hung International Inc. 341,284 259,454 513,285 28,698 Poonglim Industrial Co., Ltd. 241,063 309,925 107,360 (29,812 ) STX Corporation 595,348 543,458 1,371,272 342,869 Saman Corporation 98,435 69,929 76,135 (6,096 ) Woori Growth Partnerships New Technology Private Equity Fund 120,133 485 1,024 (3,199 ) 2016KIF-IMM 32,815 380 6 (1,515 ) K BANK Co., Ltd. 1,244,270 1,001,121 19,231 (74,403 ) Smart Private Equity Fund No.2 14,711 51 1 (340 ) Woori Bank-Company K Korea Movie Asset Fund 11,830 2 16 (172 ) Well to Sea No.3 Private Equity Fund 5,068,424 4,534,957 131,488 162,743 Nomura-Rifa Private Real Estate Investment Trust No.17 20,265 16,507 62 (242 ) December 31, 2018 Assets Liabilities Operating Net income Woori Service Networks Co., Ltd. 5,066 1,886 15,803 819 Korea Credit Bureau Co., Ltd. 88,797 22,788 78,018 9,901 Korea Finance Security Co., Ltd. 35,155 12,114 60,706 17 Chin Hung International Inc. 412,205 332,268 606,192 6,402 Saman Corporation 97,720 69,915 75,825 (869 ) Woori Growth Partnerships New Technology Private Equity Fund 109,167 440 5,943 4,117 2016KIF-IMM 73,231 12 16 (1,510 ) K BANK Co., Ltd. 2,024,856 1,807,502 60,039 (69,256 ) Smart Private Equity Fund No.2 14,502 51 1 (209 ) Woori Bank-Company K Korea Movie Asset Fund 10,805 5 1,663 (299 ) Well to Sea No.3 Private Equity Fund 5,968,591 5,395,307 429,742 39,711 Partner One Value Up Ist Private Equity Fund 42,776 — 326 (224 ) IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 21,200 757 390 (1,268 ) Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 12,014 105 3 (191 ) Nomura-Rifa Private Real Estate Investment Trust No.17 20,197 16,178 10 (228 ) Uri Hanhwa Eureka Private Equity Fund 42,332 181 1 (1,349 ) (4) The entities that the Group has not applied equity method of accounting although the Group’s ownership interest is more than 20% as of December 31, 2017 and 2018, are as follows: December 31, 2017 Associate (*) Number of shares owned Ownership (%) Orient Shipyard Co., Ltd. 465,050 21.4 Saenuel Co., Ltd. 3,531 37.4 E Mirae Tech Co., Ltd. 7,696 41.0 Jehin Trading Co., Ltd. 81,610 27.3 The Season Company Co., Ltd. 18,187 30.1 Yuil PESC Co., Ltd. 8,642 24.0 Youngdong Sea Food Co., Ltd. 12,106 24.0 Sinseong Trading Co., Ltd. 2,584 27.2 CL Tech Co., Ltd. 13,759 38.6 Force TEC Co., Ltd. 4,780,907 25.8 Protronics Co., Ltd. 95,921 48.1 Instern Co., Ltd. 14,296 20.1 December 31, 2018 Associate (*) Number of shares owned Ownership (%) Orient Shipyard Co., Ltd. 464,812 21.4 Saenuel Co., Ltd. 3,531 37.4 E Mirae Tech Co., Ltd. 7,696 41.0 Jehin Trading Co., Ltd. 81,610 27.3 The Season Company Co., Ltd. 18,187 30.1 Yuil PESC Co., Ltd. 8,642 24.0 CL Tech Co., Ltd. 13,759 38.6 (*) Even though the Group’s ownership interest of the entity is more than 20%, the Group does not have significant influence over the entity since it is going through work-out (5) As of December 31, 2016, 2017 and 2018, the reconciliations from the net assets of associates based on the ownership ratio of the Group to its corresponding book value of investment in joint ventures and associates are as follows (Unit: Korean Won in millions except for ownership): December 31, 2016 Total net Ownership Ownership Basis Impairment Intercompany Book Value Woori Blackstone Korea Opportunity Private Equity Fund No.1 57,544 26.4 15,191 — — 98 15,289 Kumho Tire Co., Inc. (*) 1,055,219 14.2 149,324 48,459 — 2,549 200,332 Woori Service Networks Co., Ltd. 2,940 4.9 145 — — — 145 Korea Credit Bureau 53,923 9.9 5,344 248 — — 5,592 Korea Finance Security Co., Ltd. 22,503 15.0 3,376 — — — 3,376 Chin Hung International Inc. (*) 65,387 28.4 18,593 24,565 — (126 ) 43,032 Poonglim Industrial Co., Ltd. (*) (111,156 ) 31.0 (34,463 ) 54,149 (21,062 ) 1,376 — STX Engine Co., Ltd. 95,784 29.2 28,002 14,954 — 80 43,036 SamHo Co., Ltd. 251,656 7.8 19,729 — — — 19,729 STX Corporation (*) (250,018 ) 9.5 (23,633 ) 24,614 (27,904 ) 26,923 — Saman Corporation 36,205 9.2 3,326 5,373 — — 8,699 Woori Growth Partnerships New Technology Private Equity Fund 56,846 23.1 13,118 — — — 13,118 2016KIF-IMM 8,751 20.0 1,750 — — 50 1,800 K BANK Co.,Ltd. 234,173 13.0 30,442 — — — 30,442 Woori Renaissance Holdings 100,708 51.6 51,965 — (6,441 ) 8,898 54,422 Woori Columbus First PEF 305 2.0 6 — — (6 ) — December 31, 2017 Total net Ownership Ownership Basis Impairment Intercompany Book value Kumho Tire Co., Inc. (*) 1,065,421 14.2 150,767 48,459 (102,843 ) 2,550 98,933 Woori Service Networks Co., Ltd. 3,202 4.9 158 — — — 158 Korea Credit Bureau Co., Ltd. 56,181 9.9 5,568 248 — — 5,816 Korea Finance Security Co., Ltd. 23,454 15.0 3,519 — — — 3,519 Chin Hung International Inc. (*) 81,686 25.3 20,671 24,565 — (135 ) 45,101 Poonglim Industrial Co., Ltd. (*) (168,154 ) 29.4 (49,446 ) 54,542 (20,504 ) 15,408 — STX Corporation 51,890 19.7 10,232 24,614 (27,904 ) 5 6,947 Saman Corporation 28,506 9.2 2,619 5,373 (6,738 ) — 1,254 Woori Growth Partnerships New Technology Private Equity Fund 119,648 23.1 27,611 — — — 27,611 2016KIF-IMM 32,435 20.0 6,487 — — 353 6,840 K BANK Co., Ltd. 243,149 13.0 31,535 — — 200 31,735 Smart Private Equity Fund No.2 14,660 20.0 2,932 — — — 2,932 Woori Bank-Company K Korea Movie Asset Fund 11,828 25.0 2,957 — — — 2,957 Well to Sea No.3 Private Equity Fund (*) 364,909 50.0 182,366 — — (57 ) 182,309 Nomura-Rifa Private Real Estate Investment Trust No.17 3,758 25.0 939 — — — 939 December 31, 2018 Total net Ownership Ownership Basis Impairment Intercompany Book value Woori Service Networks Co., Ltd. 3,180 4.9 157 — — — 157 Korea Credit Bureau Co., Ltd. 66,009 9.9 6,544 246 — — 6,790 Korea Finance Security Co., Ltd. 23,041 15.0 3,456 — — — 3,456 Chin Hung International Inc. (*) 79,793 25.3 20,192 24,565 — (16 ) 44,741 Saman Corporation 27,805 9.2 2,556 5,373 (6,915 ) — 1,014 Woori Growth Partnerships New Technology Private Equity Fund 108,727 23.1 25,091 — — — 25,091 2016KIF-IMM 73,219 20.0 14,644 — — 656 15,300 K BANK Co., Ltd. (*) 290,597 14.1 40,984 2,725 — — 43,709 Smart Private Equity Fund No.2 14,451 20.0 2,890 — — — 2,890 Woori Bank-Company K Korea Movie Asset Fund 10,800 25.0 2,700 — — — 2,700 Well to Sea No.3 Private Equity Fund (*) 396,248 50.0 198,027 — — (634 ) 197,393 Partner One Value Up Ist Private Equity Fund 42,776 23.3 9,948 — — — 9,948 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 20,443 20.0 4,089 — — 337 4,426 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 11,909 25.0 2,977 — — 48 3,025 Nomura-Rifa Private Real Estate Investment Trust No.17 4,019 19.4 780 — — 7 787 Uri Hanhwa Eureka Private Equity Fund 42,151 0.8 339 — — — 339 (*) The net asset amount is after reflecting debt-equity swap and others. |
Investment Properties
Investment Properties | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Investment Property [Abstract] | |
Investment Properties | 14. INVESTMENT PROPERTIES (1) Details of investment properties are as follows (Unit: Korean Won in millions): December 31, December 31, Acquisition cost 404,741 416,796 Accumulated depreciation (33,440 ) (38,600 ) Net carrying value 371,301 378,196 (2) Changes in investment properties are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Beginning balance 351,496 358,497 371,301 Acquisition 4,428 9,872 15,195 Disposal — (458 ) (3,045 ) Depreciation (3,762 ) (3,902 ) (4,045 ) Transfers from(to) premises and equipment 6,314 2,472 7,623 Classified to assets held for sale — (371 ) (10,056 ) Foreign currencies translation adjustments 21 (324 ) (5 ) Others — 5,515 1,228 Ending balance 358,497 371,301 378,196 (3) Fair value of investment properties is amounting to 396,587 million Won and 438,534 million Won as of December 31, 2017 and 2018, respectively. The fair value of investment properties has been assessed on the basis of recent similar real estate market price and officially assessed land price in the area of the investment properties, is classified as level 3 on the fair value hierarchy. (4) Rental fee earned from investment properties is amounting to 5,027 million Won, 4,579 million Won and 5,080 million Won for the years ended December 31, 2016, 2017 and 2018, respectively. |
Premises and Equipment
Premises and Equipment | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Property Plant And Equipment [Abstract] | |
Premises And Equipment | 15. PREMISES AND EQUIPMENT (1) Details of premises and equipment are as follows (Unit: Korean Won in millions): December 31, 2017 Land Building Equipment Leasehold Construction Structures Total Acquisition cost 1,487,278 867,804 1,024,186 429,665 64,559 20 3,873,512 Accumulated depreciation — (186,958 ) (844,114 ) (364,878 ) — (17 ) (1,395,967 ) Net carrying value 1,487,278 680,846 180,072 64,787 64,559 3 2,477,545 December 31, 2018 Land Building Equipment Leasehold Construction Structures Total Acquisition cost 1,481,871 872,282 1,031,431 446,264 9,099 20 3,840,967 Accumulated depreciation — (210,370 ) (791,418 ) (388,670 ) — (17 ) (1,390,475 ) Net carrying value 1,481,871 661,912 240,013 57,594 9,099 3 2,450,492 (2) Details of changes in premises and equipment are as follows (Unit: Korean Won in millions): For the year ended December 31, 2016 Land Building Equipment Leasehold Construction Structures Total Beginning balance 1,493,628 704,017 193,291 79,744 522 4 2,471,206 Acquisition — 15,939 74,336 19,615 21,231 — 131,121 Disposal (30 ) (1,474 ) (233 ) (2,623 ) (102 ) — (4,462 ) Depreciation — (24,887 ) (82,445 ) (48,587 ) — — (155,919 ) Classified to assets held for sale (4,063 ) (251 ) — — — — (4,314 ) Foreign currencies translation adjustment 625 516 307 376 153 — 1,977 Acquisition through business combination — — 209 442 — — 651 Transfer (1,415 ) (1,557 ) — — (3,087 ) — (6,059 ) Others — (604 ) 4,437 19,991 — — 23,824 Ending balance 1,488,745 691,699 189,902 68,958 18,717 4 2,458,025 For the year ended December 31, 2017 Land Building Equipment Leasehold Construction Structures Total Beginning balance 1,488,745 691,699 189,902 68,958 18,717 4 2,458,025 Acquisitions 4,755 22,579 59,694 23,420 51,797 — 162,245 Disposals (1,840 ) (2,593 ) (442 ) (1,231 ) — — (6,106 ) Depreciation — (26,156 ) (74,223 ) (31,728 ) — (1 ) (132,108 ) Classified to assets held for sale (2,693 ) (1,059 ) 549 — — — (3,203 ) Transfer (196 ) (2,134 ) 5,411 — (5,553 ) — (2,472 ) Foreign currencies translation adjustments (1,493 ) (1,393 ) (2,023 ) (1,315 ) (402 ) — (6,626 ) Others — (97 ) 1,204 6,683 — — 7,790 Ending balance 1,487,278 680,846 180,072 64,787 64,559 3 2,477,545 For the year ended December 31, 2018 Land Building Equipment Leasehold Construction Structures Total Beginning balance 1,487,278 680,846 180,072 64,787 64,559 3 2,477,545 Acquisitions 1,372 14,701 76,783 17,527 8,285 — 118,668 Disposals (29 ) — (5,192 ) (737 ) (187 ) — (6,145 ) Depreciation — (26,014 ) (76,171 ) (32,162 ) — — (134,347 ) Classified to assets held for sale (3,651 ) (2,592 ) — — — — (6,243 ) Transfer (2,863 ) (4,760 ) 63,432 — (63,432 ) — (7,623 ) Foreign currencies translation adjustments (236 ) (257 ) (69 ) 323 (126 ) — (365 ) Acquisition through business combination — — 969 661 — — 1,630 Others — (12 ) 189 7,195 — — 7,372 Ending balance 1,481,871 661,912 240,013 57,594 9,099 3 2,450,492 |
Intangible assets
Intangible assets | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Intangible Assets [Abstract] | |
Intangible assets | 16. INTANGIBLE ASSETS (1) Details of intangible assets are as follows (Unit: Korean Won in millions): December 31, 2017 Goodwill Software Industrial rights Development Others Membership Construction Total Acquisition cost 108,707 203,418 1,063 260,087 634,150 27,337 153,209 1,387,971 Accumulated amortization — (162,746 ) (524 ) (182,846 ) (516,467 ) — — (862,583 ) Accumulated impairment losses — — — — (137 ) (6,652 ) — (6,789 ) Net carrying value 108,707 40,672 539 77,241 117,546 20,685 153,209 518,599 December 31, 2018 Goodwill Software Industrial property Development Others Membership Construction Total Acquisition cost 153,602 156,109 1,258 469,226 729,052 27,025 10,415 1,546,687 Accumulated amortization — (126,382 ) (696 ) (228,906 ) (589,618 ) — — (945,602 ) Accumulated impairment losses — — — — (137 ) (3,428 ) — (3,565 ) Net carrying value 153,602 29,727 562 240,320 139,297 23,597 10,415 597,520 (2) Details of changes in intangible assets are as follows (Unit: Korean Won in millions): For the year ended December 31, 2016 Goodwill Software Industrial rights Development (*) Others Membership Total Beginning balance 103,525 38,171 344 51,357 201,769 24,640 419,806 Acquisition — 8,708 64 92,969 30,842 2,306 134,889 Disposal — — — — (23 ) (3,785 ) (3,808 ) Amortization — (15,795 ) (95 ) (18,657 ) (57,803 ) — (92,350 ) Impairment losses — — — — 3,230 (1,585 ) 1,645 Foreign currencies translation adjustment 7,338 16 — — 853 50 8,257 Acquisition through business combination 7,857 162 — — — 43 8,062 Others 6,083 4,215 — 13,027 (14,504 ) (1,583 ) 7,238 Ending balance 124,803 35,477 313 138,696 164,364 20,086 483,739 (*) Development cost includes the amount of Construction in progress. For the year ended December 31, 2017 Goodwill Software Industrial rights Development Others Membership Construction Total Beginning balance 124,803 35,477 313 70,697 164,364 20,086 67,999 483,739 Acquisitions 105 9,722 349 29,133 22,531 1,867 93,716 157,423 Disposal — — — — (37 ) (944 ) — (981 ) Amortization (*) — (16,258 ) (123 ) (22,534 ) (60,869 ) — — (99,784 ) Impairment loss — — — — (78 ) (159 ) — (237 ) Transfer — 7,987 — — — — (7,987 ) — Foreign currencies translation adjustment (16,201 ) (952 ) — 36 (2,742 ) (160 ) (519 ) (20,538 ) Others — 4,696 — (91 ) (5,623 ) (5 ) — (1,023 ) Ending balance 108,707 40,672 539 77,241 117,546 20,685 153,209 518,599 (*) Amortization of other intangible assets amounting to 48,292 million Won is included in other operating expenses. For the year ended December 31, 2018 Goodwill Software Industrial rights Development Others Membership Construction Total Beginning balance 108,707 40,672 539 77,241 117,546 20,685 153,209 518,599 Acquisitions — 6,839 195 20,935 45,205 5,162 97,067 175,403 Disposal — (4,359 ) — — (196 ) (2,871 ) — (7,426 ) Amortization (*) — (14,028 ) (172 ) (46,045 ) (73,913 ) — — (134,158 ) Reversal of impairment loss — — — — — 674 — 674 Transfer — — — 188,189 51,672 — (239,861 ) — Acquisition through business combination 46,752 763 — — — — — 47,515 Foreign currencies translation adjustment (1,857 ) (165 ) — — (227 ) (53 ) — (2,302 ) Others — 5 — — (790 ) — — (785 ) Ending balance 153,602 29,727 562 240,320 139,297 23,597 10,415 597,520 (*) Amortization of other intangible assets amounting to 51,770 million Won is included in other operating expenses. (3) Details of goodwill as of December 31, 2017 and 2018 are as follow (Unit: Korea Won in millions) Goodwill is allocated to cash-generating units, based on management’s analysis, that are expected to benefit from the synergies of the combination for impairment testing, and cash-generating units consist of an operating segment or units which are not larger than an operating segment. The recoverable amount of a cash-generating unit is measured at the higher of its fair value less costs to sell and its value in use. The fair value less costs to sell is the amount obtainable from the sale in an arm’s length transaction between knowledgeable, willing parties, less the costs of disposal. If it is difficult to measure the amount obtainable from the sale, the Group measures the fair value less costs to sell by reflecting the characteristics of the measured cash-generating unit. If it is not possible to obtain reliable information to measure the fair value less costs to sell, the Group uses the asset’s value in use as its recoverable amount. Value in use is the present value of the future cash flows expected to be derived from an asset or cash-generating unit. The projections of the future cash flows are based on the most recent financial budget approved by management and generally cover a period of five years. The future cash flows after projection period are estimated on the assumption that the future cash flows will increase by 3.0% for all other cash-generating units. The key assumptions used for the estimation of the future cash flows are the market size and the Group’s market share. The discount rate is a pre-tax |
Assets Held for sale
Assets Held for sale | 12 Months Ended |
Dec. 31, 2018 | |
Assets or disposal groups classified as held for sale or as held for distribution to owners [Abstract] | |
Assets Held for Sale | 17. ASSETS HELD FOR SALE Assets held for sale are as follows (Unit: Korean Won in millions): December 31, December 31, Investments in joint ventures and associates 46,217 — Premises and equipment, etc. (*) 2,407 17,912 Total 48,624 17,912 (*) The Group classified premises and equipment that are highly likely to be sold within one year as assets held for sale. The Group measured assets held for sale as the smaller amount between the fair value less cost of sale and book value. |
Assets Subject to Lien and Asse
Assets Subject to Lien and Assets Acquired Through Foreclosures | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Collateral [Abstract] | |
Assets Subject To Lien And Assets Acquired Through Foreclosures | 18. ASSETS SUBJECT TO LIEN AND ASSETS ACQUIRED THROUGH FORECLOSURES (1) Assets subjected to lien are as follows (Unit: Korean Won in millions): December 31, 2017 Collateral given to Amount Reason for collateral Loan and receivables Due from banks on time in local currency Bank of China and others 6,629 Collaterals for issuing letter of guarantee and others Due from banks in local currencies Samsung Securities Co., Ltd. and others 10,809 Margin deposit for futures or option Due from banks in foreign currencies Korea Investment & Securities Co., Ltd. and others 9,136 Foreign margin deposit for future or option and others Financial assets at FVTPL Korean financial institutions’ debt securities and others Yuanta Securities Co., Ltd. and others 501,523 Substitute securities and others AFS financial assets Korean treasury and corporate bonds Korea Securities Depository and others 9,998 Related to bonds sold under repurchase agreements (*) Korean treasury and government bonds and others The BOK and others 1,570,608 Settlement risk and others HTM financial assets Korean treasury and government bonds Korea Securities Depository 5,436 Related to bonds sold under repurchase agreements (*) Korean financial institutions’ debt securities and others The BOK and others 7,605,292 Settlement risk and others Premises and equipment Land and building Credit Counselling & Recovery Service and others 6,186 Leasehold rights and others Total 9,725,617 December 31, 2018 Collateral given to Amount Reason for collateral Loan at amortized cost and other financial assets Due from banks on time in local currency Daishin AMC and others 1,500 Right of pledge Due from banks in local currencies Samsung Securities Co., Ltd. and others 38,112 Margin deposit for futures or option Due from banks in foreign currencies Korea Investment & Securities Co., Ltd. and others 202,156 Foreign margin deposit for future or option and others Financial assets at FVTOCI Korean financial institutions’ debt securities and others The BOK and others 2,919,042 Settlement risk and others Korean financial institutions’ debt securities Banco Bilbao Vizcaya Argentaria, S.A 33,588 Related to bonds sold under repurchase agreements (*) Securities at amortized cost Korean treasury and government bonds Korea Securities Depository 5,552 Related to bonds sold under repurchase agreements (*) Korean treasury and government bonds and others The BOK and others 6,382,188 Settlement risk and others Premises and equipment Land and building Credit Counselling & Recovery Service and others 5,987 Right to collateral and others Total 9,588,125 (*) The Group has the agreements to repurchase the sold assets at the predetermined price or the price that includes the rate of return and to provide the guarantee on the assets. The transferee has the right to sell or to provide as guarantee. Therefore, the Group does not derecognize the assets, but recognizes the relevant amounts as liability (bonds sold under repurchase agreements). (2) There is no carrying amount of assets acquired through foreclosure of December 31, 2018 and the carrying amounts of assets acquired through foreclosure of December 31, 2017 are as follows. (Unit: Korean Won in millions): December 31, Land 332 Buildings 44 Total 376 (3) Securities loaned are as follows (Unit: Korean Won in millions): December 31, December 31, Loaned to Financial assets at FVTOCI Korean financial institutions’ debt securities and others — 40,029 Korea Securities Finance Corporation AFS financial assets Korean treasury, government bonds and others 170,256 — Korea Securities Finance Corporation and others Total 170,256 40,029 Securities loaned are lending of specific securities to borrowers who agree to return the same quantity of the same security at the end of lending period. As the Group does not derecognize these securities, there are no liabilities recognized through such transactions relates to securities loaned. (4) Collaterals held that can be disposed and re-subjected Fair values of collaterals held that can be disposed and re-subjected December 31, 2017 Fair values of collaterals Fair values of collaterals were disposed or re-subjected Securities 17,671,490 — December 31, 2018 Fair values of collaterals Fair values of collaterals were disposed re-subjected Securities 12,262,041 — |
Other Assets
Other Assets | 12 Months Ended |
Dec. 31, 2018 | |
Miscellaneous assets [Abstract] | |
Other Assets | 19. OTHER ASSETS Details of other assets are as follows (Unit: Korean Won in millions): December 31, December 31, Prepaid expenses 130,245 161,129 Advance payments 18,363 18,467 Assets for non-business 376 — Others 9,420 18,057 Total 158,404 197,653 |
Financial Liabilitiy at Fair Va
Financial Liabilitiy at Fair Value Through Profit or Loss | 12 Months Ended |
Dec. 31, 2018 | |
Financial liabilities at fair value through profit or loss [Abstract] | |
Disclosure of financial liabilities at fair value through profit or loss | 20. FINANCIAL LIABILITIES AT FVTPL (1) Financial liabilities at FVTPL are as follows (Unit: Korean Won in millions): December 31, December 31, Financial liabilities at fair value through profit or loss mandatorily measured at fair value — 2,117,919 Financial liabilities held for trading 3,176,113 — Financial liabilities at fair value through profit or loss designated as upon initial recognition — 164,767 Financial liabilities designated as at FVTPL 251,796 — Total 3,427,909 2,282,686 (2) Financial liabilities at fair value through profit or loss mandatorily measured at fair value (Financial liabilities held for trading) are as follows (Unit: Korean Won in millions): December 31, December 31, Deposits Gold banking liabilities 25,964 27,058 Derivative liabilities 3,150,149 2,090,861 Total 3,176,113 2,117,919 (3) Financial liabilities at fair value through profit or loss designated as upon initial recognition (Financial liabilities designated as at FVTPL) are as follows (Unit: Korean Won in millions): December 31, December 31, Equity-linked securities index Equity-linked securities index in short position 160,057 164,767 Debentures Debentures in local currency 91,739 — Total 251,796 164,767 Financial liabilities at fair value through profit or loss designated as upon initial recognition are designated in order to eliminate or significantly reduce accounting mismatch arising from recognition or measurement. (4) Accumulated changes in credit risk adjustments to financial liabilities at fair value through profit or loss designated as upon initial recognition does not have. The adjustment to reflect Group’s credit risk is considered in measuring the fair value of equity-linked securities index and debentures. The Group’s credit risk is determined by adjusting credit spread observed in credit rating of Group. (5) The difference between carrying amount and maturity amount of financial liabilities at fair value through profit or loss designated as upon initial recognition (Financial liabilities designated as at FVTPL) are as follows (Unit: Korean Won in millions): December 31, December 31, Carrying amount 251,796 164,767 Nominal amount at maturity 255,408 217,280 Difference (3,612 ) (52,513 ) (6) Changes in equity in relation to financial liabilities at fair value through profit or loss designated as upon initial recognition The cumulative gain or loss realized as a result of the derecognition of financial liabilities designated as at FVTPL that is presented in other comprehensive income and transferred within equity is 4 million (after income tax expense) Won for the year ended December 31, 2018. |
Deposits Due to Customers
Deposits Due to Customers | 12 Months Ended |
Dec. 31, 2018 | |
Deposits from customers [Abstract] | |
Deposits Due To Customers | 21. DEPOSITS DUE TO CUSTOMERS Details of deposits due to customers by type are as follows (Unit: Korean Won in millions): December 31, December 31, Deposits in local currency: Deposits on demand 9,349,070 11,076,417 Deposits at termination 194,292,679 204,051,570 Mutual installment 34,055 30,783 Deposits on notes payables 1,323,679 1,891,556 Deposits on CMA 164,431 137,316 Customer deposit for security investment 50,000 30,000 Certificate of deposits 4,436,443 6,510,571 Other deposits 1,401,841 1,409,505 Sub-total 211,052,198 225,137,718 Deposits in foreign currency: Deposits in foreign currencies 23,682,896 23,626,234 Present value discount (40,010 ) (73,013 ) Total 234,695,084 248,690,939 |
Borrowings and Debentures
Borrowings and Debentures | 12 Months Ended |
Dec. 31, 2018 | |
Borrowings [Abstract] | |
Borrowings And Debentures | 22. BORROWINGS AND DEBENTURES (1) Details of borrowings are as follows (Unit: Korean Won in millions): December 31, 2017 Lenders Interest Amount Borrowings in local currency: Borrowings from The BOK The BOK 0.5 ~ 0.8 1,404,087 Borrowings from government funds Small Enterprise And Market Service and others 0.0 ~ 2.9 1,723,340 Others The Korea Development Bank and others 0.0 ~ 3.2 3,957,421 Sub-total 7,084,848 Borrowings in foreign currencies: Borrowings in foreign currencies The Export-Import Bank of Korea and others 0.0 ~ 6.8 6,996,551 Offshore borrowings in foreign currencies Commonwealth Bank 1.8 28,285 Sub-total 7,024,836 Bills sold Others 0.0 ~ 1.2 36,953 Call money Bank and others 1.5 ~ 2.7 635,061 Bonds sold under repurchase agreements Other financial institutions 0.6 ~ 12.7 3,173 Present value discount (165 ) Total 14,784,706 December 31, 2018 Lenders Interest Amount Borrowings in local currency: Borrowings from The BOK The BOK 0.5 ~ 0.8 1,335,459 Borrowings from government funds Small Enterprise And Market Service and others 0.0 ~ 3.5 1,771,379 Others The Korea Development Bank and others 0.0 ~ 4.0 4,716,231 Sub-total 7,823,069 Borrowings in foreign currencies: Borrowings in foreign currencies The Export-Import Bank of Korea and others 0.0 ~ 7.5 7,308,857 Offshore borrowings in foreign currencies JPMORGAN CHASE BANK 2.9 33,543 Sub-total 7,342,400 Bills sold Others 0.0 ~ 1.8 19,336 Call money Bank and others 0.0 ~ 7.3 975,358 Bonds sold under repurchase agreements Other financial institutions 0.8 ~ 12.7 42,907 Present value discount (84 ) Total 16,202,986 (2) Details of debentures are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 Interest Amount Interest Amount Face value of bond (*) Ordinary bonds 1.5 ~ 5.8 22,468,908 1.6 ~ 4.5 22,432,183 Subordinated bonds 3.4 ~ 12.6 4,781,301 3.0 ~ 12.6 5,358,838 Other bonds 1.6 ~ 17.0 649,615 1.9 ~ 17.0 974,230 Sub-total 27,899,824 28,765,251 Discounts on bonds (30,173 ) (29,389 ) Total 27,869,651 28,735,862 (*) Includes debentures under fair value hedge amounting to 3,089,751 million Won and 2,956,565 million Won as of December 31, 2017 and 2018, respectively. Also, debentures under cash flow hedge amounting to 694,548 million Won and 823,219 million Won are included as of December 31, 2017 and 2018, respectively. |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2018 | |
Provisions [Abstract] | |
Provisions | 23. PROVISIONS (1) Details of provisions are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 Asset retirement obligation 61,872 67,200 Provisions for guarantees (*1) 183,247 89,761 Provisions for unused loan commitments 66,115 121,535 Provisions for customer reward credits 40,445 49,180 Other provisions (*2) 58,791 63,637 Total 410,470 391,313 (*1) Provisions for guarantees include provision for financial guarantee of 71,697 million Won and 47,817 million Won as of December 31, 2017 and 2018, respectively. (*2) Other provisions consist of provision for litigation and others. (2) Changes in provisions for guarantees and unused loan commitments are as follows (Unit: Korean Won in millions): 1) Provisions for guarantees For the year ended December 31 2016 2017 Beginning balance 364,141 238,117 Provisions provided 4,281 4,876 Provisions used and others (80,017 ) (24,898 ) Reversal of unused amount (64,061 ) (60,300 ) Foreign currencies translation adjustments — 9 Others 13,773 25,443 Ending balance 238,117 183,247 For the year ended December 31, 2018 Stage 1 Stage 2 Stage 3 Total Beginning balance (*1) 47,132 18,281 127,511 192,924 Replaced with 12-month 92 (92 ) — — Replaced with expected credit loss for the entire period (237 ) 91,008 (90,771 ) — Replaced with credit-impaired financial assets (38 ) (29 ) 67 — Provisions used (20,429 ) — — (20,429 ) Net reversal of unused amount (4,866 ) (75,410 ) (25,709 ) (105,985 ) Others (*2) 23,249 2 — 23,251 Ending balance 44,903 33,760 11,098 89,761 (*1) The beginning balance was restated in accordance with IFRS 9. (*2) This is the effect of new financial guarantee contracts that are initially measured at fair value. 2) Provisions for unused loan commitment For the year ended December 31 2016 2017 Beginning balance 85,313 87,909 Provisions provided 8,502 2,028 Provisions used and others 22 (68 ) Reversal of unused amount (5,409 ) (23,744 ) Foreign currencies translation adjustments and others (519 ) (10 ) Ending balance 87,909 66,115 For the year ended December 31, 2018 Stage 1 Stage 2 Stage 3 Total Beginning balance (*) 75,232 27,875 1,878 104,985 Replaced with 12-month 7,770 (7,396 ) (374 ) — Replaced with expected credit loss for the entire period (2,376 ) 2,525 (149 ) — Replaced with credit-impaired financial assets (213 ) (1,579 ) 1,792 — Net provision(reversal) of unused amount (5,813 ) 23,860 (1,521 ) 16,526 Others 24 — — 24 Ending balance 74,624 45,285 1,626 121,535 (*) The beginning balance was restated in accordance with IFRS 9. (3) Changes in asset retirement obligation are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Beginning balance 39,121 58,076 61,872 Provisions provided 2,034 2,225 1,489 Provisions used (1,279 ) (1,283 ) (913 ) Reversal of provisions unused 464 (733 ) (1,038 ) Amortization (1 ) 428 564 Increase in restoration costs and others 17,737 3,159 5,226 Ending balance 58,076 61,872 67,200 The amount of the asset retirement obligation is the present value of the best estimate of future expected expenditure to settle the obligation—arising from leased premises as of December 31, 2018, discounted by appropriate discount rate. The restoration cost is expected to occur by the end of each premise’s lease period, and the Group has used average lease period of each category of leases terminated during the past years in order to rationally estimate the lease period. In addition, the Group used average amount of actual recovery cost for the past 3 years and the inflation rate for last year in order to estimate future recovery cost. (4) Changes in other provisions are as follows (Unit: Korean Won in millions): For the years ended December 31, 2016 Provisions for reward credits Other provisions Total Beginning balance 5,445 22,581 28,026 Provisions provided 23,525 8,034 31,559 Provisions used and others (8,158 ) (11,323 ) (19,481 ) Reversal of unused amount — — — Foreign currencies translation adjustments — 2,990 2,990 Transfer (*) 503 — 503 Others 778 — 778 Ending balance 22,093 22,282 44,375 For the years ended December 31, 2017 Provisions for Other provisions Total Beginning balance 22,093 22,282 44,375 Provisions provided 62,593 42,042 104,635 Provisions used (84,979 ) (8,014 ) (92,993 ) Reversal of unused amount — (77 ) (77 ) Foreign currencies translation adjustments — (249 ) (249 ) Transfer (*) 21,808 — 21,808 Others 18,930 2,807 21,737 Ending balance 40,445 58,791 99,236 For the year ended December 31, 2018 Provisions for customer Other provisions Total Beginning balance 40,445 58,791 99,236 Provisions provided 70,138 8,384 78,522 Provisions used (98,170 ) (6,940 ) (105,110 ) Reversal of unused amount — (52 ) (52 ) Foreign currencies translation adjustments — (194 ) (194 ) Transfer (*) 9,228 — 9,228 Others 27,539 3,648 31,187 Ending balance 49,180 63,637 112,817 (*) As the credits of the affiliates were transferred to the Group, the allowance for the provisions for customer reward credits increased for the years ended December 31, 2016. 2017 and 2018, respectively. (5) Others The Group provides settlement services for payments in Korean Won to facilitate trade transactions between Korea and Iran. In connection with these services, the Group is currently being investigated by US government agencies including US prosecutors (United States Attorney’s Office and New York State Attorney General’s Office) as to whether the Group has violated United States laws by participating in prohibited transactions involving the following countries: Iran, Sudan, Syria and Cuba, which have been sanctioned by the US. |
Net Defined Benefits Liability
Net Defined Benefits Liability (Asset) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of defined benefit plans [Abstract] | |
Net defined benefit liability | 24. NET DEFINED BENEFIT LIABILITY The characteristics of the Group’s defined benefit retirement pension plans are as follows: Employees and directors with one or more years of service are entitled to receive a payment upon termination of their employment, based on their length of service and rate of pay at the time of termination. The assets of the plans are measured at their fair value at the end of reporting date. The plan liabilities are measured using the projected unit method, which takes account of projected earnings increases, using actuarial assumptions that give the best estimate of the future cash flows that will arise under the plan liabilities. The Group is exposed to various risks through defined benefit retirement pension plan, and the most significant risks are as follows: Volatility of asset The defined benefit obligation was estimated with an interest rate calculated based on blue chip corporate bonds earnings. A deficit may occur if the rate of return of plan assets falls short of the interest rate. Decrease in profitability of blue chip bonds A decrease in profitability of blue chip bonds will be offset by some increase in the value of debt securities that the employee benefit plan owns but will bring an increase in the defined benefit obligation. Risk of inflation Defined benefit obligations are related to inflation rate; the higher the inflation rate is, the higher the level of liabilities. Therefore, deficit occurs in the system if an inflation rate increases. (1) Details of net defined benefit liability are as follows (Unit: Korean Won in millions): December 31, December 31, Present value of defined benefit obligation 1,071,170 1,275,020 Fair value of plan assets (1,027,906 ) (1,101,911 ) Net defined benefit liability 43,264 173,109 (2) Changes in the carrying value of defined benefit obligation are as follows (Unit: Korean Won in millions): For the year ended December 31 2016 2017 2018 Beginning balance 901,219 984,381 1,071,170 Current service cost 153,660 146,750 144,394 Interest cost 24,326 26,629 32,143 Remeasurements (52,402 ) (20,389 ) 100,854 Foreign currencies translation adjustments 80 (279 ) (3 ) Retirement benefit paid (34,346 ) (55,552 ) (74,952 ) Curtailment or settlement (9,536 ) (10,928 ) — Others 1,380 558 1,414 Ending balance 984,381 1,071,170 1,275,020 (3) Changes in the plan assets are as follows (Unit: Korean Won in millions): For the year ended December 31 2016 2017 2018 Beginning balance 801,528 990,653 1,027,906 Interest income 25,038 30,601 33,825 Remeasurements (7,304 ) (14,125 ) (14,783 ) Employer’s contributions 226,752 43,114 128,926 Retirement benefit paid (33,341 ) (51,877 ) (71,672 ) Curtailment or settlement (9,198 ) (11,052 ) — Others (12,822 ) 40,592 (2,291 ) Ending balance 990,653 1,027,906 1,101,911 (4) Plan assets wholly consist of fixed deposits as of December 31, 2017 and 2018. Among plan assets, realized returns on plan assets amount to 17,734 million Won, 16,476 million Won and 19,042 million Won for the years ended December 31, 2016, 2017 and 2018, respectively. Meanwhile, the contribution expected to be paid in the next accounting year amounts to 161,571 million Won. (5) Current service cost, net interest income, loss (gain) on the curtailment or settlement and remeasurements recognized in the consolidated statements comprehensive income are as follows (Unit: Korean Won in millions): For the year ended December 31 2016 2017 2018 Current service cost 153,660 146,750 144,394 Net interest income (712 ) (3,972 ) (1,682 ) Loss on the curtailment or settlement (339 ) 124 — Cost recognized in net income 152,609 142,902 142,712 Remeasurements (45,098 ) (6,264 ) 115,637 Cost recognized in total comprehensive income 107,511 136,638 258,349 Retirement benefit service costs related to defined contribution plans amount to 3,747 million Won, 3,946 million Won and 2,437 million Won for the years ended December 31, 2016, 2017 and 2018, respectively. (6) Key actuarial assumptions used in net defined benefit liability measurement are as follows: December 31, 2016 December 31, 2017 December 31, 2018 Discount rate 2.85% 3.18% 2,69% Future wage growth rate 6.05% 6.18% 6.18% Mortality rate Issued by Korea Insurance Development Institute Issued by Korea Insurance Development Institute Issued by Korea Insurance Development Institute Retirement rate Experience rate for each employment classification Experience rate for each employment classification Experience rate for each employment classification The weighted average maturity of defined benefit liability is 8.05 ~ 13.21 years. (7) The sensitivity to actuarial assumptions used in the assessment of defined benefit obligation is as follows (Unit: Korean Won in millions): December 31, 2017 (*) December 31, 2018 (*) Discount rate Increase by 1% point (116,405 ) (116,812 ) Decrease by 1% point 137,151 136,990 Future wage growth rate Increase by 1% point 136,707 135,767 Decrease by 1% point (117,765 ) (118,020 ) (*) The above sensitivity analyses are based on a change in an assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated. The sensitivity of the defined benefit obligation to changes in principal actuarial assumptions is calculated using the projected unit credit method, the same method applied when calculating the defined benefit obligations recognized on the statement of financial position. |
Other Financial Liabilities and
Other Financial Liabilities and Other Liabilities | 12 Months Ended |
Dec. 31, 2018 | |
Miscellaneous Liabilities [Abstract] | |
Disclosure of other financial liabilities and other liabilities | 25. OTHER FINANCIAL LIABILITIES AND OTHER LIABILITIES Other financial liabilities and other liabilities are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 Other financial liabilities: Accounts payable 4,692,320 5,409,268 Accrued expenses 2,049,861 2,224,330 Borrowings from trust accounts 3,271,817 3,747,492 Agency business revenue 344,591 396,735 Foreign exchange payables 590,667 539,554 Domestic exchange settlement credits 1,309,646 7,134,966 Other miscellaneous financial liabilities 1,635,156 1,992,663 Present value discount (1,597 ) (2,484 ) Sub-total 13,892,461 21,442,524 Other liabilities: Unearned income 180,664 204,034 Other miscellaneous liabilities 103,317 142,044 Sub-total 283,981 346,078 Total 14,176,442 21,788,602 |
Derivatives
Derivatives | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of detailed information about hedges [Abstract] | |
Derivatives | 26. DERIVATIVES (1) Derivative assets and derivative liabilities are as follows (Unit: Korean Won in millions): December 31, 2017 Assets Liabilities Nominal amount For fair hedge For trading For cash flow For fair value hedge For trading Interest rate: Futures 75,845 — — — — — Swaps 130,197,378 59,272 223,935 — 12,103 253,972 Purchase options 630,000 — 12,346 — — — Written options 795,000 — — — — 12,869 Currency: Futures 318,217 — — — — — Forwards 72,526,956 — 1,314,368 — — 1,375,799 Swaps 48,176,306 — 1,352,924 55,651 — 1,347,905 Purchase options 2,291,154 — 64,267 — — — Written options 4,038,237 — — — — 58,687 Equity: Futures 91,436 — — — — — Swaps 15,000 — 103 — — 10 Purchase options 5,060,706 — 146,775 — — — Written options 4,504,290 — — — — 99,770 Others: Futures — — — — — — Swaps 7,805 — 1,056 — — 1,037 Purchase options — — — — — — Written options 5,000 — — — — 100 Total 268,733,330 59,272 3,115,774 55,651 12,103 3,150,149 December 31, 2018 Assets Liabilities Nominal amount For fair hedge For trading For cash flow For fair value hedge For trading Interest rate: Futures — — — — — — Swaps 150,710,490 35,503 218,140 665 17,654 266,207 Purchase options 530,000 — 10,461 — — — Written options 525,000 — — — — 12,438 Currency: Futures 320,213 — — — — — Forwards 88,376,776 — 843,621 — — 777,039 Swaps 67,179,195 — 761,907 33,089 — 773,701 Purchase options 1,933,454 — 17,544 — — — Written options 3,134,774 — — — — 20,747 Equity: Futures 186,737 — — — — — Swaps 441,573 — 31,377 — — 1,217 Purchase options 4,925,315 — 143,029 — — — Written options 6,145,935 — — — — 239,512 Total 324,409,462 35,503 2,026,079 33,754 17,654 2,090,861 Derivatives held for trading are classified into financial assets at FVTPL (Note 7) and financial liabilities at FVTPL (Note 20), and derivatives designated for hedging are presented as a separate line item in the consolidated statements of financial position. (2) Overview of the Group’s hedge accounting 1) Fair value hedge As of the current period end, the Group has applied fair value hedge on fixed interest rate foreign currency denominated debentures amounting to 2,956,565 million Won. The purpose of the hedging is to avoid fair value volatility risk of fixed interest rate foreign currency denominated debentures derived from fluctuations of market interest rate, and as such the Group entered into interest rate swap agreements designated as hedging instruments. Pursuant to the interest rate swap agreement, by swapping the calculated difference between the fixed interest rate and floating interest rate applied to the nominal value, the fair value fluctuation risk is hedged as the foreign currency denominated debentures fixed interest rate terms are converted to floating interest rate. Pursuant to the interest rate swap agreement, hedge ratio is determined by matching the nominal value to the face value of the hedging instrument. In this hedging relationship, only the market interest rate fluctuation, which is the most significant part of the fair value change of the hedged item, is designated as the hedged risk, and other risk factors including credit risk are not included in the hedged risk. Therefore, the ineffective portion of the hedge could arise from difference in the timing of the cash flow of the hedged item, price margin set by the counterparty of hedging instruments, or unilateral credit risk fluctuation of either party of the hedging instrument. The interest rate swap agreements and the hedged items are subject to fluctuations in the underlying market rate of interest and the Group expects the fair value of the interest rate swap contract and the value of the hedged item to generally change in the opposite direction. The fair value of the interest rate swap at the end of the reporting period is determined by discounting future cash flows estimated using the yield curve at the end of the reporting period and the credit risk embedded in the contract and the average interest rate is determined based on the outstanding balance at the end of the reporting period. The variable interest rate applied to the interest rate swap is USD Libor 3M (6M) plus spread. In accordance with the terms of each interest rate swap contract designated as a hedging instrument, the Group receives interest at a fixed interest rate and pays interest at a variable interest rate. 2) Cash Flow Hedge As of the end of the current period, the Group has applied cash flow hedge on foreign currency denominated debentures amounting to 723,308 million Won and debentures on local currency amounting to 99,911 million Won. The Group’s hedging strategies are to 1) Mitigate risks of cash flow fluctuation from variable interest rate debentures due to changes in market interest rate by entering into an interest rate swap contract and thereby designating it as hedging instrument; 2) Mitigate the risks of cash flow fluctuation from principal and interest of variable-interest rate debentures denominated in foreign currency due to changes in foreign exchange rates and interest rates by entering into a currency swap contract and thereby designating it as hedging instrument; and 3) Mitigate the risks of cash flow fluctuation from principal and interest of fixed-interest rate debentures denominated in foreign currency due to changes in foreign exchange rates by entering into a currency swap contract and thereby designating it as hedging instrument. This means exchanging a predetermined nominal amount as set forth in the interest rate swap contract adjusted by the differences between the fixed and variable interest rates, which results in the conversion of interest rates of debentures from variable interest into fixed interest, eliminating the cash flow fluctuation risk. In addition, this also means a payment of predetermined principal amount as set forth in the currency swap adjusted by fixed interest rate, an exchange of an amount calculated by applying variable interest rate to USD or applying fixed interest rate to SGD, and an exchange of the principal denominated in KRW and principal denominated in foreign currency at maturity eliminating cash flow fluctuation risk on principal and interest. The hedge ratio is determined by matching the nominal amount of the hedging instrument to the face amount of the hedged item in accordance with interest rate swap and currency swap. Only interest rate and foreign exchange rate fluctuation risk, which is the most significant factor in the cash flow fluctuation of the hedged item, is addressed in this hedging relationship, and other risk factors such as credit risk are not subject to hedging. Thus, there could be hedge ineffectiveness arising from price margin set by the counterparty of hedging instruments and unilateral change in credit risk of any party to the transaction. The interest rate swap, currency swap contract and the hedged item are all affected by the changes in market interest rate and foreign exchange rates which are basic factors of the derivative. The Group expects that the value of currency swap contract and the hedged item will generally fluctuate in opposite direction. (3) The nominal amounts of the hedging instrument as of December 31, 2018 are as follows (Unit: USD, SGD and Korean Won in millions): 1 year or less 1 year to 5 More than 5 Total Fair value hedge Interest rate risk Interest rate swap(USD) — 1,350,000,000 1,300,000,000 2,650,000,000 Cash flow hedge Interest rate risk Interest rate swap(KRW) — 100,000 — 100,000 Foreign currencies translation risk and interest rate risk Currency swap(USD) 50,000,000 450,000,000 — 500,000,000 Foreign currencies translation risk Currency swap(SGD) — 204,000,000 — 204,000,000 (4) The average interest rate and average currency rate of the hedging instrument as of December 31, 2018 are as follows: Average interest rate and average currency rate Fair value hedge Interest rate risk Interest rate swaps(USD) Fixed 3.96% receipt and Libor 3M+1.61% floating paid Fixed 5.88% receipt and Libor 6M+2.15% floating paid Cash flow hedge Interest rate risk Interest rate swap(KRW) KRW 3Y CMS+0.395% receipt, KRW 2.38% paid Foreign currencies translation risk and interest rate risk Currency swap(USD) USD 3M Libor+0.7% receipt, KRW 1.74% paid, USD/KRW = 1,136 USD 1M Libor+0.517% receipt, KRW 1.70% paid, USD/KRW = 1,178 Foreign currencies translation risk Currency swap(SGD) SGD 1.91% receipt, KRW 1.98% paid, SGD/KRW = 828 (5) The amounts related to items designated as hedging instruments as of December 31, 2018 are as follows (Unit: USD, SGD and Korean Won in millions): Nominal amounts of Carrying amounts of the hedging instrument Line item in the Changing in fair Assets Liabilities Fair value hedge Interest rate risk Interest rate swaps(USD) 2,650,000,000 35,503 17,654 Derivative assets (Designated for hedging) Derivative liabilities (Designated for hedging) (27,362 ) Cash flow hedge Interest rate risk Interest rate swap(KRW) 100,000 — 665 Derivative liabilities (Designated for hedging) (665 ) Foreign currencies translation risk and interest rate risk Currency swap (USD) 500,000,000 — 28,907 Derivative liabilities (Designated for hedging) 21,582 Foreign currencies translation risk Currency swap (SGD) 204,000,000 — 4,182 Derivative liabilities (Designated for hedging) 2,353 (6) Details of carrying amount to hedged and amount adjusted due to hedge accounting as of December 31, 2018 are as follows (Unit: Korean won in millions): Carrying amounts of the Accumulated amount of fair Line item in the Changing in Cash flow reserve (*) Assets Liabilities Assets Liabilities Fair value hedge Interest rate risk Debenture — 2,956,565 — 5,200 Debentures 25,498 — Cash flow hedge Interest rate risk Debenture — 99,911 — — Debentures 521 (371 ) Foreign currencies translation risk and interest rate risk Debenture — 557,186 — — Debentures (16,790 ) (1,211 ) Foreign currencies translation risk Debenture — 166,122 — — Debentures (1,762 ) (2,287 ) (*) After tax amount (7) Amounts recognized in profit or loss due to the ineffective portion of fair value hedges during the current period are as follows (Unit: Korean Won in millions): Hedge ineffectiveness Line item in the profit that Fair value hedge Interest rate risk (1,864 ) Other net operating income (8) Reclassification of profit or loss from other comprehensive income and equity related to cash flow hedges is as follows (Unit: Korean Won in millions): Changes in Hedge Changes Line item in Amounts Line item Cash flow hedge Interest rate risk (517 ) (148 ) — Other net — Other net Foreign currencies translation risk and interest rate risk 21,429 153 (882 ) Other net (expense) (23,084 ) Other net Foreign currencies translation risk 2,353 — (491 ) Other net (3,601 ) Other net |
Deferred Day 1 Profit or Loss
Deferred Day 1 Profit or Loss | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Day One Profit Or Loss [Abstract] | |
DEFERRED Day One Profits Or Losses | 27. DEFERRED DAY 1 PROFITS OR LOSSES Changes in deferred day 1 profits or losses are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Beginning balance 28,008 13,422 7,416 New transactions 1,337 500 23,678 Amounts recognized in losses (15,923 ) (6,506 ) (5,631 ) Ending balance 13,422 7,416 25,463 In case some variables to measure fair values of financial instruments are not observable in the market, valuation techniques are utilized to evaluate such financial instruments. Those financial instruments are recorded the transaction price as at the time of acquisition, even though there are difference noted between the transaction price and the fair value. The table above presents the difference yet to be realized as profit or losses. |
Capital Stock and Capital Surpl
Capital Stock and Capital Surplus | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Issued Capital And Miscellaneous Equity [Abstract] | |
Disclosure of issued capital and miscellaneous equity | 28. CAPITAL STOCK AND CAPITAL SURPLUS (1) The number of shares authorized and others are as follows: December 31, 2017 December 31, 2018 Shares of common stock authorized 5,000,000,000 Shares 5,000,000,000 Shares Par value 5,000 Won 5,000 Won Shares of common stock issued 676,000,000 Shares 676,000,000 Shares Capital stock 3,381,392 million Won 3,381,392 million Won (2) There are no changes in the number of shares issued and outstanding for the years ended December 31, 2016, 2017 and 2018. (3) Details of capital surplus are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 Capital in excess of par value 269,533 269,533 Other capital surplus 16,347 16,356 Total 285,880 285,889 |
Hybrid Securities
Hybrid Securities | 12 Months Ended |
Dec. 31, 2018 | |
Hybrid Instruments [Abstract] | |
Disclosure Of Hybrid Securities | 29. HYBRID SECURITIES The bond-type hybrid securities classified as owner’s equity are as follows (Unit: Korean Won in millions): Issue date Maturity Interest December 31, December 31, Securities in local currency June 20, 2008 June 20, 2038 7.7 255,000 — April 25, 2013 April 25, 2043 4.4 500,000 500,000 November 13, 2013 November 13, 2043 5.7 200,000 200,000 December 12, 2014 December 12, 2044 5.2 160,000 160,000 June 3, 2015 June 3, 2045 4.4 240,000 240,000 July 26, 2018 — 4.4 — 400,000 Securities in foreign currencies June 10, 2015 June 10, 2045 5.0 559,650 559,650 September 27, 2016 — 4.5 553,450 553,450 May 16, 2017 — 5.3 562,700 562,700 Issuance cost (12,912 ) (13,837 ) Total 3,017,888 3,161,963 The hybrid securities mentioned above are either without a maturity date or its maturity can be extended indefinitely at the maturity date without changing terms. In addition, the hybrid securities issued by the Bank will be reclassified to non-controlling interests in the consolidated financial statements of Woori Financial Group, Inc. from the next accounting period, due to the establishment of the financial holding company on January 11, 2019. |
Other Equity
Other Equity | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Other Equity [Abstract] | |
Disclosure of other equity | 30. OTHER EQUITY (1) Details of other equity are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 Accumulated other comprehensive loss: Net loss on valuation of financial assets at FVTOCI — (87,182 ) Gain on valuation of AFS financial assets 301,930 — Gain on financial liabilities at FVTPL (IFRS 9) designated as upon initial recognition due to own credit risk — — Share of other comprehensive gain (loss) of joint ventures and associates (1,251 ) 302 Loss on foreign currency translation of foreign operations (242,700 ) (244,735 ) Remeasurement loss related to defined benefit plan (152,624 ) (236,726 ) Gain (loss) on valuation of derivatives designated as cash flow hedges 777 (3,869 ) Other comprehensive income related to assets held for sale 4,145 — Sub-total (89,723 ) (572,210 ) Treasury shares (34,113 ) (34,113 ) Other capital adjustments (*) (1,815,438 ) (1,607,647 ) Total (1,939,274 ) (2,213,970 ) (*) Other capital adjustments include gain or loss on capital transactions that was recognized in 2014 as a result of the merger of Woori Bank and Woori Finance Holdings Co., Ltd. (2) Changes in the accumulated other comprehensive loss, net of tax, are as follows (Unit: Korean Won in millions): For the year ended December 31, 2016 Beginning Increase Reclassification (*) Income tax Ending balance Gain (loss) on valuation of AFS financial assets 374,685 114,617 (101,647 ) (674 ) 386,981 Share of other comprehensive income (loss) of joint ventures and associates 6,074 (9,274 ) — 1,337 (1,863 ) Gain (loss) on foreign currency translation of foreign operations (70,789 ) 30,368 — (7,932 ) (48,353 ) Remeasurement gain (loss) related to defined benefit plan (197,579 ) 45,096 — (10,914 ) (163,397 ) Gain (loss) on valuation of cash flow hedges (10,371 ) 10,371 — — — Total 102,020 191,178 (101,647 ) (18,183 ) 173,368 For the year ended December 31, 2017 Beginning Increase (*) Reclassification (*) Income tax Ending balance Gain (loss) on valuation of AFS financial assets 386,981 80,997 (164,803 ) (1,245 ) 301,930 Share of other comprehensive income (loss) of joint ventures and associates (1,863 ) 2,516 — (1,904 ) (1,251 ) Gain (loss) on foreign currency translation of foreign operations (48,353 ) (193,272 ) — (1,075 ) (242,700 ) Remeasurement gain (loss) related to defined benefit plan (163,397 ) 6,216 — 4,557 (152,624 ) Gain (loss) on valuation of cash flow hedges — 1,025 — (248 ) 777 Transfer to assets held for sale — 4,145 — — 4,145 Total 173,368 (98,373 ) (164,803 ) 85 (89,723 ) (*) For the change in gain (loss) on valuation of AFS financial assets, “increase (decrease)” represents change due to the valuation during the period, and “reclassification adjustments” represents disposal or recognition of impairment losses on AFS financial assets. For the year ended December 31, 2018 Beginning (*1) Increase (*2)(*3) Reclassification Income tax Ending balance Net gain (loss) on valuation of financial assets at FVTOCI (88,906 ) (8,677 ) 8,015 2,386 (87,182 ) Gain (loss) on financial liabilities at FVTPL (IFRS 9) designated as upon initial recognition due to own credit risk (96 ) 132 — (36 ) — Share of other comprehensive gain (loss) of joint ventures and associates (2,656 ) 4,080 — (1,122 ) 302 Gain (loss) on foreign currency translation of foreign operations (242,806 ) (2,661 ) — 732 (244,735 ) Remeasurement gain (loss) related to defined benefit plan (152,358 ) (111,401 ) — 27,033 (236,726 ) Gain (loss) on valuation of derivatives designated as cash flow hedges 777 30,655 (26,871 ) (8,430 ) (3,869 ) Transfer to assets held for sale 4,145 (4,145 ) — — — Total (481,900 ) (92,017 ) (18,856 ) 20,563 (572,210 ) (*1) The beginning balance was adjusted in accordance with IFRS 9. (*2) Net gain (loss) on valuation of financial assets at FVTOCI included the 1,009 million Won transfer to retained earnings due to disposal of equity securities. (*3) Gain (loss) on financial liabilities at fair value through profit or loss designated as upon initial recognition due to own credit risk included the 4 million Won transfer to retained earnings due to redemption. |
Retained Earnings
Retained Earnings | 12 Months Ended |
Dec. 31, 2018 | |
Retained Earnings Note Disclosure [Abstract] | |
Retained Earnings And Other Reserve | 31. RETAINED EARNINGS AND OTHER RESERVE (1) Details of retained earnings are as follows (Unit: Korean Won in millions): December 31, December 31, Legal reserve Earned surplus reserve 1,729,754 1,857,754 Other legal reserve 45,668 46,384 Sub-total 1,775,422 1,904,138 Voluntary reserve Business rationalization reserve 8,000 8,000 Reserve for financial structure improvement 235,400 235,400 Additional reserve 7,418,806 7,759,804 Regulatory reserve for credit loss 2,438,191 2,578,457 Revaluation reserve 751,964 715,860 Other voluntary reserve 11,700 — Sub-total 10,864,061 11,297,521 Retained earnings before appropriation (*) 2,980,523 3,922,998 Total 15,620,006 17,124,657 (*) The unappropriated retained earnings for the current period has been restated in accordance with IFRS 9. i. Earned surplus reserve In accordance with the Article 40, Banking Act, earned surplus reserve is appropriated at least one tenth of the earnings after tax on every dividend declaration, not exceeding the paid in capital. This reserve may not be used other than for offsetting a deficit or transferring to capital. ii. Other legal reserve Other legal reserves were appropriated in the branches located in Japan, Vietnam and Bangladesh according to the banking laws of Japan, Vietnam and Bangladesh, and may be used to offset any deficit incurred in those branches. iii. Business rationalization reserve Pursuant to the Restriction of Special Taxation Act, the Group was previously required to appropriate, as a reserve for business rationalization, amounts equal to tax reductions arising from tax exemptions and tax credits up to December 31, 2001. The requirement was no longer effective from 2002. iv. Reserve for financial structure improvement From 2002 to 2014, the Finance Supervisory Services recommended banks in Korea to appropriate at least 10 percent of net income after accumulated deficit for financial structure improvement, until tangible common equity ratio equals 5.5 percent. But this reserve is not available for payment of cash dividends; however, it can be used to reduce a deficit or be transferred to capital. The reserve and appropriation are an Autonomous judgment matter of the Group since 2015. v. Additional reserve Additional reserve was appropriated for capital adequacy and other management purpose. vi. Regulatory reserve for credit loss In accordance with paragraphs 1 and 2 of Article 29 of the Regulation on Supervision of Banking Business (“RSBB”), if provisions for credit loss under IFRS for the accounting purpose are lower than provisions under RSBB, the Group limits such shortfall amount as regulatory reserve for credit loss. vii. Revaluation reserve In accordance with attached table 3 of the Regulation on Supervision of Banking Business Enforcement Rules Revaluation reserve is the amount of limited dividends set by the board of directors to be recognized as complementary capital when the gain or loss occurred in the property revaluation by adopting IFRS. |
Dividends
Dividends | 12 Months Ended |
Dec. 31, 2018 | |
Dividends [Abstract] | |
Dividends | 32. DIVIDENDS Dividends for the years 2017 and 2018 are 500 Won and 650 Won per share, respectively, and the total amount of dividends paid are 336,636 million Won and 437,626 million Won, respectively. Meanwhile, the dividends for 2018 were approved on March 27, 2019. |
Net Interest Income
Net Interest Income | 12 Months Ended |
Dec. 31, 2018 | |
Interest Revenue (Expense), Net [Abstract] | |
Disclosure of interest income (expense) | 33. NET INTEREST INCOME (1) Interest income recognized is as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Financial assets at FVTPL (IFRS 9) — — 54,243 Financial assets at FVTOCI — — 280,371 Financial assets at amortized cost Securities at amortized cost — — 376,788 Loans and other financial assets at amortized cost: Interest on due from banks — — 112,581 Interest on loans — — 8,832,485 Interest of other receivables — — 28,031 Sub-total — — 9,349,885 Financial assets at FVTPL (IAS 39) 63,408 53,348 — AFS financial assets 339,518 239,030 — HTM financial assets 360,054 307,965 — Loans and receivables: Interest on due from banks 75,021 83,325 — Interest on loans 7,635,791 7,835,957 — Interest of other receivables 38,520 31,062 — Sub-total 7,749,332 7,950,344 — Total 8,512,312 8,550,687 9,684,499 (2) Interest expense recognized is as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Interest on deposits due to customers 2,547,142 2,380,263 2,917,165 Interest on borrowings 215,240 238,212 306,739 Interest on debentures 619,255 638,653 720,394 Other interest expense 111,131 72,909 89,250 Total 3,492,768 3,330,037 4,033,548 |
Net Fees and Commissions Income
Net Fees and Commissions Income | 12 Months Ended |
Dec. 31, 2018 | |
Fee and commission income (expense) [Abstract] | |
Net Fees And Commissions Income | 34. NET FEES AND COMMISSIONS INCOME (1) Details of fees and commissions income recognized are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Fees and commission received for brokerage 166,317 164,041 162,344 Fees and commission received related to credit 170,329 166,364 173,233 Fees and commission received for electronic finance 107,985 110,105 121,250 Fees and commission received on foreign exchange handling 53,468 58,383 60,433 Fees and commission received on foreign exchange 54,924 61,552 66,036 Fees and commission received for guarantee 66,549 65,779 65,254 Fees and commission received on credit card 954,502 1,072,423 598,705 Fees and commission received on securities business 70,928 80,872 96,379 Fees and commission from trust management 78,211 141,766 177,456 Fees and commission received on credit information 11,017 11,737 12,985 Other fees 131,240 136,176 146,689 Total 1,865,470 2,069,198 1,680,764 (2) Details of fees and commissions expense incurred are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Fees and commissions paid 162,170 164,834 174,669 Credit card commission 760,913 828,363 428,613 Brokerage commission 739 558 1,833 Others 4,517 4,977 5,675 Total 928,339 998,732 610,790 |
Dividend Income
Dividend Income | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Revenue From Dividends [Abstract] | |
Disclosure of revenue from dividends | 35. DIVIDEND INCOME (1) Details of dividend income recognized are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Financial assets at FVTPL (IFRS 9) — — 67,892 Financial assets at FVTPL (IAS 39) 996 446 — Financial assets at FVTOCI — — 22,660 AFS financial assets 183,514 124,546 — Total 184,510 124,992 90,552 (2) Details of dividends related to financial assets at FVTOCI are as follows (Unit: Korean Won in millions): For the year ended December 31, 2018 Dividend income recognized from assets held Equity securities 22,386 Dividend income recognized from assets derecognized 274 Total 22,660 |
Net gain or loss on financial i
Net gain or loss on financial instruments at fair value through profit or loss mandatorily measured at fair value (IFRS 9 and IAS 39) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of gains (losses) on financial instruments at fair value through profit or loss [Abstract] | |
Net gain or loss on financial instruments at fair value through profit or loss mandatorily measured at fair value (IFRS 9 and IAS 39) | 36. NET GAIN OR LOSS ON FINANCIAL INSTRUMENTS AT FAIR VALUE THROUGH PROFIT OR LOSS MANDATORILY MEASURED AT FAIR VALUE (IFRS 9 AND IAS 39) (1) Details of gain or loss related to net gain or loss on financial instruments at FVTPL (IFRS 9 and IAS 39) are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Gain on financial instruments at fair value through profit or loss mandatorily measured at fair value — — 196,959 Gain on financial instruments held for trading 185,786 6,123 — Gain on financial instruments at fair value through profit or loss designated as upon initial recognition — — 17,484 Loss on financial instruments designed as at fair value through profit or loss (71,399 ) (110,950 ) — Total 114,387 (104,827 ) 214,443 (2) Details of net gain or loss on financial instrument at fair value through profit or loss mandatorily measured at fair value and financial instruments held for trading are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Financial assets at FVTPL (financial assets held for trading) Securities Gain on valuation 9,323 2,764 137,237 Gain on disposals 24,509 20,528 45,105 Loss on valuation (12,681 ) (13,757 ) (25,499 ) Loss on disposals (11,524 ) (6,466 ) (26,728 ) Sub-total 9,627 3,069 130,115 Loans Gain on valuation — — 1,606 Gain on disposals — — 4,136 Loss on valuation — — (4,805 ) Loss on disposals — — (117 ) Sub-total — — 820 Other Gain on valuation 13,628 6,524 2,050 financial Gain on disposals 2,404 2,353 530 assets Loss on valuation (14,033 ) (7,885 ) (2,280 ) Loss on disposals (1,644 ) (619 ) (86 ) Sub-total 355 373 214 Sub-total 9,982 3,442 131,149 Derivatives (Held for trading) Interest rate derivatives Gain on transactions and valuation 1,423,606 1,088,192 1,255,581 Loss on transactions and valuation (1,401,582 ) (1,043,312 ) (1,303,244 ) Sub-total 22,024 44,880 (47,663 ) Currency derivatives Gain on transactions and valuation 5,804,420 7,253,426 4,935,922 Loss on transactions and valuation (5,683,357 ) (7,408,741 ) (4,822,915 ) Sub-total 121,063 (155,315 ) 113,007 Equity derivatives Gain on transactions and valuation 293,657 511,220 486,560 Loss on transactions and valuation (259,280 ) (397,462 ) (484,986 ) Sub-total 34,377 113,758 1,574 Other derivatives Gain on transactions and valuation 50,139 4,056 4,138 Loss on transactions and valuation (51,799 ) (4,698 ) (5,246 ) Sub-total (1,660 ) (642 ) (1,108 ) Sub-total 175,804 2,681 65,810 Total 185,786 6,123 196,959 (3) Details of net gain (loss) on financial instrument at fair value through profit or loss designated as upon initial recognition and Losses on financial instruments designated as at fair value through profit or loss are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Gain (loss) on equity-linked securities: Loss on disposal of equity-linked securities (24,165 ) (79,965 ) (2,058 ) Gain (loss) on valuation of equity-linked securities (52,007 ) (32,511 ) 17,945 Sub-total (76,172 ) (112,476 ) 15,887 Gain on other securities: Gain on disposals of securities 14 — — Gain on valuation of other securities 882 290 — Sub-total 896 290 — Gain on other financial instruments: Gain on valuation of other financial instruments 3,877 1,236 1,597 Total (71,399 ) (110,950 ) 17,484 |
Gains (losses) on financial ass
Gains (losses) on financial assets at fair value through other comprehensive income and available-for-sale financial assets | 12 Months Ended |
Dec. 31, 2018 | |
Gains (losses) on financial assets at fair value through other comprehensive income and available-for-sale financial assets [Abstract] | |
Net Gain (Loss) on Financial Assets At Fair Value Through Other Comprehensive Income and Available-for-sale Financial Assets | 37. NET GAIN OR LOSS ON FINANCIAL ASSETS AT FVTOCI AND AFS FINANCIAL ASSETS Details of net gain or loss on financial assets at FVTOCI and AFS financial assets recognized are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Gain on redemption of securities 721 47 53 Gain on transaction of securities 47,985 223,961 1,994 Impairment loss on securities (49,741 ) (31,300 ) — Total (1,035 ) 192,708 2,047 |
Impairment Losses Due to Credit
Impairment Losses Due to Credit Loss | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of impairment loss and reversal of impairment loss [Abstract] | |
Impairment reversal (loss) due to credit loss | 38. IMPAIRMENT REVERSAL (LOSS) DUE TO CREDIT LOSS Impairment reversal (loss) due to credit loss are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Impairment loss due to credit loss on financial assets measured at FVTOCI — — (2,027 ) Impairment loss due to credit loss on securities at amortized cost — — (1,922 ) Provision for credit loss on loan and other financial assets at amortized cost — — (415,084 ) Impairment loss due to credit loss (890,763 ) (862,273 ) — Reversal of provision on guarantee 59,780 55,424 105,985 Reversal of provision on (provision for) unused loan commitment (3,093 ) 21,716 (16,526 ) Total (834,076 ) (785,133 ) (329,574 ) |
General administrative expenses
General administrative expenses and other operating income (expense) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of general administrative expenses and other operating income (expense) [Abstract] | |
Disclosure of general administrative expenses and other operating income (expense) | 39. GENERAL AND ADMINISTRATIVE EXPENSES AND OTHER NET OPERATING INCOME (EXPENSES) (1) Details of general and administrative expenses recognized are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Salaries Short-term employee benefits Salaries 1,323,007 1,317,826 1,484,236 Employee benefits 466,585 559,562 468,012 Retirement benefit service costs 156,356 146,848 145,149 Termination 179,286 299,562 225,106 Sub-total 2,125,234 2,323,798 2,322,503 Depreciation and amortization 248,269 183,601 216,735 Other generaland administrative expenses Rent 311,992 313,080 321,198 Taxes and public dues 102,531 111,248 115,454 Service charges 244,543 198,828 222,530 Computer and IT related 83,978 70,936 88,689 Telephone and communication 63,699 65,015 70,618 Operating promotion 48,115 43,850 43,540 Advertising 76,153 68,942 72,450 Printing 9,502 8,633 8,601 Traveling 11,681 13,064 12,757 Supplies 6,827 6,795 7,071 Insurance premium 8,092 8,548 8,355 Reimbursement 26,846 27,516 23,474 Maintenance 16,470 16,081 17,384 Water, light and heating 15,006 14,165 14,686 Vehicle maintenance 9,987 9,902 10,264 Others 69,551 46,799 47,724 Sub-total 1,104,973 1,023,402 1,084,795 Total 3,478,476 3,530,801 3,624,033 (2) Details of other operating income recognized are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Gain on transactions of foreign exchange 4,791,772 3,391,095 1,227,561 Gain on disposals of loans and receivables (*1) 204,239 205,490 — Gain related to derivatives (Designated for hedging) 130 122 35,810 Gain on fair value hedged items 99,302 53,532 42,797 Others (*2) 112,079 86,159 82,417 Total 5,207,522 3,736,398 1,388,585 (*1) Gain (loss) on disposal of loan and receivables occurred during the year ended December 31, 2018 was presented as a separate account named ‘Net gain related to financial assets at amortized cost’ in accordance with the adoption of IFRS 9. (*2) Other income includes income amounting to 74,700 million Won, 29,336 million Won and 29,316 million Won for the years ended December 31, 2016, 2017 and 2018, respectively, which are related to the Group’s expected payments from other creditor financial institutions in accordance with the creditor financial institutions committee agreement. (3) Details of other operating expenses recognized are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Losses on transactions of foreign exchange 4,706,055 2,886,535 991,423 KDIC deposit insurance premium 298,804 304,055 315,315 Contribution to miscellaneous funds 295,601 286,000 298,416 Losses on disposals of loans and receivables (*1) 4,265 9,221 — Losses related to derivatives (Designated for hedging) 98,981 109,569 36,483 Losses on fair value hedged items 475 — 17,299 Others (*2) 171,120 172,331 124,240 Total 5,575,301 3,767,711 1,783,176 (*1) Loss on disposal of loan and receivables occurred during the year ended December 31, 2018 was presented as a separate account named ‘Net gain related to financial assets at amortized cost’ in accordance with the adoption of IFRS 9. (*2) Others include such expenses amounting to 109,063 million Won, 5,237 million Won and 1,594 million Won for the years ended December 31, 2016, 2017 and 2018, respectively, that are related to the Group’s expected payments to other creditor financial institutions in accordance with the creditor financial institutions committee agreement. In addition, they include 51,770 million Won and 48,292 million Won for the years ended December 31, 2017 and 2018, respectively, of intangible asset amortization expense. |
Other non-operating income (exp
Other non-operating income (expense) | 12 Months Ended |
Dec. 31, 2018 | |
Other non-operating income (expense) [Abstract] | |
Non-Operating Income (Expenses) | 40. NON-OPERATING (1) Details of gains or losses on valuation of investments in joint ventures and associates are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Gains on valuation of investments in joint ventures and associates 36,757 83,506 25,791 Losses on valuation of investments in joint ventures and associates (55,091 ) (70,117 ) (22,595 ) Impairment losses of investments in joint ventures and associates (1,173 ) (114,903 ) (177 ) Total (19,507 ) (101,514 ) 3,019 (2) Details of other non-operating For the years ended December 31 2016 2017 2018 Other non-operating 132,272 84,361 129,709 Other non-operating (133,582 ) (190,083 ) (87,157 ) Total (1,310 ) (105,722 ) 42,552 (3) Details of other non-operating For the years ended December 31 2016 2017 2018 Rental fee income 7,291 6,973 6,835 Gains on disposal of investments in joint ventures and associates 23,457 39,932 50,511 Gains on disposal of premises and equipment, intangible assets and other assets 1,885 5,028 30,278 Reversal of impairment loss of premises and equipment, intangible assets and other assets 3,581 666 761 Others 96,058 31,762 41,324 Total 132,272 84,361 129,709 (4) Details of other non-operating For the years ended December 31 2016 2017 2018 Depreciation on investment properties 3,762 3,902 4,045 Interest expenses of refundable deposits 496 459 620 Losses on disposal of investment in joint ventures and associates 15,060 38,713 2,931 Losses on disposal of premises and equipment, intangible assets and other assets 9,718 9,994 1,160 Impairment losses of premises and equipment, intangible assets and other assets 1,936 390 87 Donation 43,939 98,132 51,983 Others 58,671 38,493 26,331 Total 133,582 190,083 87,157 |
Income Tax Expense
Income Tax Expense | 12 Months Ended |
Dec. 31, 2018 | |
Major components of tax expense (income) [Abstract] | |
Income Tax Expense | 41. INCOME TAX EXPENSE (1) Details of income tax expenses are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Current tax expense: Current tax expense with respect to the current period 332,996 471,669 432,645 Adjustments recognized in the current period in relation to the tax expense of prior periods (22,138 ) (5,209 ) 5,923 Sub-total 310,858 466,460 438,568 Deferred tax expense (income): Changes in deferred tax assets (liabilities) relating to the temporary differences (35,002 ) (47,042 ) 314,655 Income tax expense 275,856 419,418 753,223 (2) Income tax expense reconciled to net income before income tax expense is as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Net income before income tax expense 1,553,389 1,949,506 2,804,872 Tax calculated at statutory tax rate (*) 375,458 471,318 760,978 Adjustments: Effect of income that is exempt from taxation (75,166 ) (55,983 ) (49,418 ) Effect of expenses that are not deductible in determining taxable income 13,664 22,254 18,639 Adjustments recognized in the current period in relation to the current tax of prior periods (22,138 ) (5,209 ) 5,923 Others (15,962 ) (12,962 ) 17,101 Sub-total (99,602 ) (51,900 ) (7,755 ) Income tax expense 275,856 419,418 753,223 Effective tax rate 17.76 % 21.5 % 26.9 % (*) The applicable income tax rate: 1) 11% for taxable income below 200 million Won, 2) 22% for above 200 million Won and below 20 billion Won, 3) 24.2% for above 20 billion Won and below 300 billion Won, 4) 27.5% for above 300 billion Won. (3) Changes in cumulative temporary differences are as follows (Unit: Korean Won in millions): For the year ended December 31, 2016 Beginning Recognized Recognized as Ending balance Gain (loss) on financial assets at FVTPL 445,729 (18,524 ) — 427,205 Gain (loss) on AFS financial assets (121,536 ) 57 (666 ) (122,145 ) Gain (loss) on valuation using the equity method of accounting 5,106 26,500 1,337 32,943 Gain (loss) on valuation of derivatives (39,774 ) (4,079 ) — (43,853 ) Accrued income (82,148 ) 12,188 — (69,960 ) Provision for loan losses (50,504 ) 3,693 — (46,811 ) Loan and receivables written off 54,225 (310 ) — 53,915 Loan origination costs and fees (103,912 ) (4,190 ) — (108,102 ) Defined benefit liability 203,423 32,536 (10,914 ) 225,045 Deposits with employee retirement insurance trust (187,044 ) (39,277 ) — (226,321 ) Provision for guarantee 69,225 (28,087 ) — 41,138 Other provision 27,898 4,494 — 32,392 Others (29,470 ) 50,001 (5,993 ) 14,538 Net deferred tax assets 191,218 35,002 (16,236 ) 209,984 For the year ended December 31, 2017 Beginning Recognized Recognized as Ending balance Gain (loss) on financial assets 407,128 72,945 (1,008 ) 479,065 Gain (loss) on valuation using the equity method of accounting 32,859 (6,473 ) (1,904 ) 24,482 Gain (loss) on valuation of derivatives (43,818 ) 33,806 (248 ) (10,260 ) Accrued income (69,959 ) 8,972 — (60,987 ) Provision for loan losses (46,811 ) (886 ) — (47,697 ) Loan and receivables written off 53,915 (44,138 ) — 9,777 Loan origination costs and fees (108,102 ) (29,218 ) — (137,320 ) Defined benefit liability 225,045 54,533 4,656 284,234 Deposits with employee retirement insurance trust (226,321 ) (61,012 ) — (287,333 ) Provision for guarantee 41,138 (10,536 ) — 30,602 Other provision 32,392 12,761 — 45,153 Others (*) (87,479 ) 16,289 (1,075 ) (72,265 ) Net deferred tax assets 209,987 47,043 421 257,451 (*) Among the deferred tax assets and liabilities classified as ‘Others,’ the deferred tax asset arising from unused tax losses amounts to 15,652 million Won. For the year ended December 31, 2018 IFRS 9 adoption effect Beginning Recognized Recognized as Beginning Business Recognized Recognized as (*2) Ending Balance Gain (loss) on financial assets 479,065 (150,140 ) 149,796 478,721 — (102,170 ) (4,205 ) 372,346 Gain on valuation using the equity method of accounting 24,482 — — 24,482 — 3,203 669 28,354 Gain (loss) on valuation of derivatives (10,260 ) (3,990 ) — (14,250 ) — (13,617 ) 360 (27,507 ) Accrued income (60,987 ) — — (60,987 ) 621 4,520 — (55,846 ) Provision for loan losses (47,697 ) 47,446 — (251 ) 399 (52,493 ) — (52,345 ) Loan and receivables written off 9,777 — — 9,777 — (3,105 ) — 6,672 Loan origination costs and fees (137,320 ) 36 — (137,284 ) — (17,147 ) — (154,431 ) Defined benefit liability 284,234 — — 284,234 317 43,821 31,715 360,087 Deposits with employee retirement insurance trust (287,333 ) — — (287,333 ) — (31,092 ) 95 (318,330 ) Provision for guarantee 30,602 1,370 — 31,972 — (20,598 ) — 11,374 Other provision 45,153 25,879 — 71,032 — 4,162 — 75,194 Others (*1) (72,265 ) 4,917 — (67,348 ) 44 (130,137 ) (6,642 ) (204,083 ) Net deferred tax assets 257,451 (74,482 ) 149,796 332,765 1,381 (314,653 ) 21,992 41,485 (*1) Among the deferred tax assets and liabilities classified as ‘Others,’ the deferred tax asset arising from unused tax losses amounts to 18,154 million Won. (*2) Includes 1,429 million Won presented on non-controlling (4) Unrealizable temporary differences are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 Deductible temporary differences 126,818 272,911 Tax loss carry forward 96,135 149,035 Taxable temporary differences (1,298,586 ) (868,541 ) Total (1,075,633 ) (446,595 ) No deferred income tax asset has been recognized for the deductible temporary difference of 227,144 million Won associated with investments in subsidiaries and associates as of December 31, 2018, because it is not probable that the temporary differences will be reversed in the foreseeable future. 45,767 million Won associated with others, respectively, as of December 31, 2018, due to the uncertainty that these will be realized in the future. No deferred income tax liability has been recognized for the taxable temporary difference of 866,294 million Won associated with investment in subsidiaries and associates as of December 31, 2018, due to the following reasons: • The Group is able to control the timing of the reversal of the temporary difference. • It is probable that the temporary difference will not be reversed in the foreseeable future. 2,247 million Won associated with others are not recognized as deferred tax liabilities as it is not probable that the associated temporary differences will be reversed in the foreseeable future. As of December 31, 2018, the expected extinctive date of tax loss carry forward that are not recognized as deferred tax assets are as follows (Unit: Korean Won in millions): 1 year or less 1 – 2 years 2 – 3 years More than 3 years Tax loss carry forward — — — 149,035 (5) Details of accumulated deferred tax charged directly to other equity are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 Net gain on valuation of financial assets at FVTOCI — 31,422 Loss on valuation of AFS securities (114,169 ) Share of other comprehensive loss of and associates (954 ) (285 ) Gain on foreign currency translation of foreign operations 15,855 8,183 Remeasurements of the net defined benefit liability 56,317 88,127 Gain (loss) on derivatives designated as cash flow hedge (248 ) 1,140 Total (43,199 ) 128,587 (6) Current tax assets and liabilities are as follows (Unit: Korean Won in millions) December 31, 2017 December 31, 2018 Current tax assets 4,722 20,730 Current tax liabilities 232,600 159,078 |
Earnings per Share (EPS)
Earnings per Share (EPS) | 12 Months Ended |
Dec. 31, 2018 | |
Earnings per share [Abstract] | |
Earnings Per Share ("EPS") | 42. EARNINGS PER SHARE (“EPS”) Basic EPS is calculated by dividing net income attributable to common shareholders by weighted-average number of common shares outstanding (Unit: Korean Won in millions, except for EPS and number of shares): For the years ended December 31 2016 2017 2018 Net income attributable to owners 1,261,266 1,512,148 2,033,182 Dividends to hybrid securities (206,515 ) (167,072 ) (151,194 ) Net income attributable to Common shareholders 1,054,751 1,345,076 1,881,988 Weighted-average number of common shares outstanding 673 million shares 673 million shares 673 million shares Basic EPS (Unit: Korean Won) 1,567 1,999 2,796 Diluted EPS is equal to basic EPS because there is no dilution effect for the years ended December 31, 2016, 2017 and 2018. |
Contingent Liabilities and Comm
Contingent Liabilities and Commitments | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of contingent liabilities [Abstract] | |
Contingent Liabilities And Commitments | 43. CONTINGENT LIABILITIES AND COMMITMENTS (1) Details of guarantees are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 Confirmed guarantees Guarantee for loans 157,299 125,870 Acceptances 320,519 371,525 Guarantees in acceptances of imported goods 108,238 158,179 Other confirmed guarantees 6,288,965 6,452,791 Sub-total 6,875,021 7,108,365 Unconfirmed guarantees Local letters of credit 383,117 305,057 Letters of credit 3,637,787 3,322,731 Other unconfirmed guarantees 505,689 669,677 Sub-total 4,526,593 4,297,465 Commercial paper purchase commitments and others 1,458,101 1,260,587 Total 12,859,715 12,666,417 (2) Details of unused loan commitments and others are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 Loan commitments 80,760,325 97,796,704 Other commitments 4,546,090 5,041,314 (3) Litigation case Legal cases where the Group is involved are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 As plaintiff As defendant As plaintiff As defendant Number of cases (*) 83 cases 155 cases 77 cases 154 cases Amount of litigation 413,267 244,767 494,645 246,826 Provisions for litigations 9,277 17,925 (*) The numbers of lawsuits as of December 31, 2017 and 2018 do not include fraud lawsuits, etc. and those lawsuits that are filed only to extend the statute of limitation. |
Related party transactions
Related party transactions | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of transactions between related parties [Abstract] | |
Related Party Transactions | 44. RELATED PARTY TRANSACTIONS Related parties of the Group as of December 31, 2017 and 2018, and assets and liabilities recognized, guarantees and commitments, major transactions with related parties and compensation to key management for the years ended December 31, 2017 and 2018 are as follows: (1) Related parties Related parties Associates Woori Service Networks Co., Ltd., Korea Credit Bureau Co., Ltd., Korea Finance Security Co., Ltd., Chin Hung International Inc., 2016KIF-IMM (2) Assets and liabilities from transactions with related parties are as follows (Unit: Korean Won in millions): Related party A title of account December 31, 2017 December 31, 2018 Associates Kumho Tire Co., Inc. (*1) Loans 170,917 — Loss allowance (156,712 ) — Deposits due to customers 666 — Other liabilities 50 — Woori Service Networks Co., Ltd. Loans 45 69 Deposits due to customers 1,311 1,967 Other liabilities 357 333 Korea Credit Bureau Co., Ltd. Loans 6 7 Deposits due to customers 5,586 6,494 Other liabilities 54 19 Korea Finance Security Co., Ltd. Loans 56 57 Loss allowance — (4 ) Deposits due to customers 2,854 5,040 Other liabilities 7 10 Chin Hung International Inc. Loans 408 411 Loss allowance (22 ) (204 ) Deposits due to customers 46,220 11,605 Other liabilities 1,658 2,974 Poonglim Industrial Co., Ltd. (*2) Deposits due to customers 4 — STX Engine Co., Ltd. (*3) Loans 106,176 — Loss allowance (88,734 ) — Deposits due to customers 18,092 — Other liabilities 29 — STX Corporation (*3) Loans 47,711 — Loss allowance (31,210 ) — Deposits due to customers 77,555 — Other liabilities 80 — K BANK Co., Ltd. Loans 212 190 Well to Sea No.3 Private Equity Fund Loans 73,810 1,857 Loss allowance (39 ) (9 ) Deposits due to customers 61 356 Other liabilities 27 64 Others (*4) Loans 499 4,783 Loss allowance (471 ) (324 ) Other assets 1 9 Deposits due to customers 2,906 8,049 Other liabilities 73 165 (*1) The Group lost significant influence over the entity due to the termination of the joint management procedures of the creditors’ financial institution during the year December 31, 2018, and thus the entity was excluded from the list of associates. (*2) The Group lost significant influence over the entity due to the stock consolidation and the capital increase of the associate during the year ended December 31, 2018, and thus the entity was excluded from the list of associates. (*3) The shares of the entity were sold after it was transferred to assets held for sale during the years ended December 31, 2018 and thus was excluded from the list of associates. (*4) Others include Saman Corporation, Kyesan Engineering Co., Ltd., DAEA SNC Co., Ltd., etc., as of December 31, 2017 and 2018. (3) Gain or loss from transactions with related parties are as follows (Unit: Korean Won in millions): For the years ended Related party A title of account 2016 2017 2018 Corporation that has significant influence over the Group KDIC (*1) Interest income 11,778 — — Interest expenses 20,966 15,331 — Associates Kumho Tire Co., Inc. (*2) Interest income 2,430 2,641 1,098 Fees income 6 5 — Interest expenses 68 1 — Impairment losses due to credit loss (reversal of allowance for credit loss) 162 155,997 (156,712 ) Woori Blackstone Korea Opportunity Private Equity Fund No.1 (*3) Fees income 1,364 6,225 — Woori Service Networks Co., Ltd. Other income 29 30 30 Interest expenses 49 24 14 Fees expenses 985 543 561 Other expenses 222 507 580 Korea Credit Bureau Co., Ltd. Interest expenses 138 82 62 Fees expenses 1,915 2,079 2,310 Korea Finance Security Co., Ltd. Interest expenses 10 12 12 Impairment losses due to credit loss — — 4 Fee expenses 110 — — Other expenses — — 146 Chin Hung International Inc. Interest income 240 364 — Fees income 1 1 — Interest expenses 28 27 43 Impairment losses due to credit loss (reversal of allowance for credit loss) (481 ) (4,265 ) 182 Poonglim Industrial Co., Ltd. Interest expenses 2 — — Reversal of allowance for credit loss (1,557 ) — — Force TEC C Co., Ltd. Interest income 153 — — Osung LST Co., Ltd. Interest income 170 — — Interest expenses 1 — — Reversal of allowance for credit loss (338 ) — — STX Engine Co., Ltd. (*4) Interest income 1,348 1,417 333 Fees income 58 28 — Interest expenses 97 147 86 Impairment losses due to credit loss (reversal of allowance for credit loss) 63,866 (797 ) (88,734 ) Associates Samho International Co., Ltd. (*5) Interest income 916 486 — Fees income 5 5 — Interest expenses 525 334 — Reversal of allowance for credit loss (5,166 ) (717 ) — STX Corporation (*4) Interest income 1,039 219 — Fees income 75 30 — Interest expenses 7 4 2 Impairment losses due to credit loss (reversal of allowance for credit loss) 73,457 (61,432 ) (31,210 ) Woori Columbus 1st Private Equity Fund (*3) Fees income 308 272 — K BANK Co., Ltd. (*8) Fees income 296 — 1,134 Other income 1,638 1,051 19 Well to Sea No.3 Private Equity Fund (*6) Interest income — 982 2,179 Interest expenses — 4 9 Impairment losses due to credit loss (reversal of allowance for credit loss) — 39 (30 ) Others (*7) Interest income — — 233 Fees income — — 23 Other income — — 14 Interest expenses 17 13 40 Impairment losses due to credit loss (reversal of allowance for credit loss) 253 218 (147 ) (*1) As its ownership interest in the Group is lower than 20% as of December 31, 2017, it has been excluded from the ‘corporation that have significant influence over the Group’ category. (*2) The Group lost significant influence over the entity due to the termination of the joint management procedures of the creditors’ financial institution during the year ended December 31, 2018, and thus the entity was excluded from the list of associates. (*3) The entity is excluded from the list of associates due to its liquidation for the year ended December 31, 2017. (*4) The shares of the entity were sold after it was transferred to assets held for sale during the years ended December 31, 2018 and thus was excluded from the list of associates. (*5) The shares of the entity were sold after it was transferred to assets held for sale during the year ended December 31, 2017 and thus was excluded from the list of associates. (*6) Due to capital contribution for the year ended December 31, 2017, the entity has been included in the list of associates. (*7) Others include the amount transacted with Saman Corporation, Kyesan Engineering Co., Ltd., DAEA SNC Co., Ltd., etc., for the years ended December 31, 2017 and 2018, and Saman Corporation, Kyesan Engineering Co., Ltd., Gachi Staff Co., Ltd., QTS Shipping Co., Ltd., and others were included as of December 31, 2016, respectively. (*8) Due to capital contribution during the year ended December 31, 2016, the entity has been included in the investment in associates. (4) Major loan transactions with related parties for the years ended December 31, 2017 and 2018 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2017 Related parties Beginning Loan Collection Others Ending (*1) Associates Kumho Tire Co., Inc. (*2) 50,413 7,057 — — 57,470 Well to Sea No. 3 Private Equity Fund (*3) — 83,810 10,000 — 73,810 STX Engine Co., Ltd. (*4) 44,797 2,177 7,088 — 39,886 For the year ended December 31, 2018 Related parties Beginning Loan Collection Others Ending (*1) Associates Kumho Tire Co., Inc. (*2) 57,470 — 7,057 (50,413 ) — Well to Sea No. 3 Private Equity Fund (*3) 73,810 16,857 88,810 — 1,857 STX Engine Co., Ltd. (*4) 39,886 — 2,177 (37,709 ) — (*1) Settlement payment from normal operation among the related parties were excluded, and in the case of a limited loan, it was presented as a net increase or decrease. (*2) The Group lost significant influence over the entity due to the termination of the joint management procedures of the creditors’ financial institution during the year ended December 31, 2018, and thus the entity was excluded from the list of associates. (*3) Due to capital contribution, the entity was included in the list of associates during the year ended December 31, 2017. (*4) The shares of the entity were sold after it was transferred to assets held for sale during the year ended December 31, 2018 and thus was excluded from the list of associates. (5) There are no major borrowing transactions with related parties for the years ended December 31, 2017 and 2018. (6) Guarantees provided to the related parties are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 Warranty Kumho Tire Co., Inc. (*1) 4,181 — Import credit in foreign currencies and others 636 — Unused loan commitment Korea Finance Security Co., Ltd. 204 203 Unused loan commitment Korea Credit Bureau Co., Ltd. 29 28 Unused loan commitment Woori Service Networks Co., Ltd. 155 131 Unused loan commitment Chin Hung International Inc. 31,891 32,058 Unused loan commitment STX Engine Co., Ltd. (*2) 68,858 — Import credit in foreign currencies and others STX corporation (*2) 17,557 — Import credit in foreign currencies and others 53 — Unused loan commitment K BANK Co., Ltd. — 15 Unused loan commitment Well to Sea No.3 Private Equity Fund 236,190 208,143 Unused loan commitment (*1) The Group lost significant influence over the entity due to the termination of the joint management procedures of the creditors’ financial institution during the year ended December 31, 2018, and thus the entity was excluded from the list of associates. (*2) The shares of the entity were sold after it was transferred to assets held for sale during the year ended December 31, 2018 and thus was excluded from the list of associates. For the guarantee provided to the related parties, the amount the Group recognized as provisions for guarantees is 71,459 million Won and nil, as of December 31, 2017 and 2018, respectively. (7) Compensation for key management is as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Short-term employee salaries 9,523 12,024 12,326 Retirement benefit service costs 424 472 489 Total 9,947 12,496 12,815 Key management includes registered executives and non-registered |
Business combination
Business combination | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of detailed information about business combination [Abstract] | |
Business Combination | 45. BUSINESS COMBINATION The business combination occurred during the current period is as follows: (1) Acquisition of WB Finance Co., Ltd. To expand Cambodia’s retail business, the Group had acquired 100% ownership of Vision Fund Cambodia in June 2018 and the Group changed its name to WB Finance Co., Ltd. The goodwill amounting to 46,752 million Won arising from the acquisition is based on the economic effect of combining the operation of the Group and its subsidiaries, and also from the customer base acquired. (2) Woori Bank Europe The Group acquired approval from the Deutsche Bundesbank (Central bank of Germany) for the establishment of Woori Bank Europe (Capital amounting to 50 million Euros) on October 9, 2018. Woori Bank Europe started its operations on November 1, 2018. (3) Details of the accounting for the business combination are as follows (Unit: Korean Won in millions): WB Woori Total Consideration transferred: Cash and cash equivalents 87,562 64,062 151,624 Identifiable assets and liabilities recognized: Cash and cash equivalents 16,657 — 16,657 Financial assets at FVTOCI 17 — 17 Loans and other financial assets at amortized cost (*) 205,451 64,062 269,513 Premises and equipment 1,630 — 1,630 Intangible assets 763 — 763 Current tax assets 173 — 173 Deferred tax assets 1,381 — 1,381 Other assets 1,510 — 1,510 Assets sub-total 227,582 64,062 291,644 Deposits due to customers 54,615 — 54,615 Borrowings 120,644 — 120,644 Other financial liabilities 6,149 — 6,149 Current tax liabilities 640 — 640 Other liabilities 4,724 — 4,724 Liabilities sub-total 186,772 — 186,772 Identifiable net fair value 40,810 64,062 104,872 Goodwill 46,752 — 46,752 (*) The book value of loans and other financial assets at amortized cost is used as proxy for fair value since the difference between fair value and book value is not material. The total contractual amount of WB Finance is 208,633 million Won and the contractual cash flow that is not expected to be recovered is 3,182 million Won. (4) Operating income and Net income of the Group Assuming that the acquisition date is the date of the beginning of reporting period, the amounts to be added to the operating income and net income in the Group’s statement of comprehensive income for the year ended December 31, 2018 are as follows: (Unit: Korean Won in millions): WB Finance Co., Ltd. Operating income 44,545 Net income 4,511 |
Subsequent Event
Subsequent Event | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of non-adjusting events after reporting period [Abstract] | |
Event After The Reporting Period | 46. EVENT AFTER THE REPORTING PERIOD After the end of the reporting period, the financial holding company was established on January 11, 2019. In accordance with the establishment of financial holding company, six companies including the Bank, Woori FIS Co., Ltd., Woori Finance Research Institute Co., Ltd., Woori Credit Information Co., Ltd., Woori Fund Service Co., Ltd. and Woori Private Equity Asset Management Co., Ltd. became fully owned subsidiaries of the said financial holding company. In connection with the Stock Transfer, the Bank’s common stock was suspended from trading from January 9, 2019 and was de-listed from the KOSPI Market of the Korea Exchange on February 13, 2019. Following the Stock Transfer, the financial holding company’s common stock was newly listed on the KOSPI Market of the Korea Exchange on February 13, 2019, and its ADSs (American Depositary Shares) succeeded to the listing of the Bank’s ADSs on the New York Stock Exchange and commenced “when issued” trading on January 11, 2019. The financial holding company’s ADSs commenced “regular way” trading on February 13, 2019, after the issuance of its common stock on the same day. |
Basis of preparation and sign_2
Basis of preparation and significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting policies [Abstract] | |
Basis of presentation | (1) Basis of presentation The Woori Financial Group Inc. and its subsidiaries (the “Group”)’s consolidated financial statements are prepared in accordance with Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). The Group operates primarily in Korea and its official accounting records are maintained in Korean Won. The United States dollar (“U.S. dollar” or “US$” or “USD”) amounts are provided herein as supplementary information solely for the convenience of readers outside Korea. Korean Won amounts are expressed in U.S. Dollars at the rate of 1,112.9 Korean Won to US$1.00, the noon buying exchange rate in effect on December 31, 2018, as quoted by the Federal Reserve Bank of New York in the United States. Such convenience translation into U.S. Dollars should not be construed as representations that Korean Won amounts have been, could have been, or could in the future be, converted at this or any other rate of exchange. The significant accounting policies applied in the preparation of consolidated financial statements as of and for the year ended December 31, 2018 are stated below, and the accounting policies applied are identical to ones used in the preparation of previous period’s consolidated financial statements, except for the effects of adopting new standards or interpretations as explained below. The consolidated financial statements are prepared at the end of each reporting period in historical cost basis, except for certain non-current |
Adoption of IFRS 9 - Financial instruments(enacted) | • Adoption of IFRS 9— Financial instruments The Group initially applied IFRS 9 and related amendments made to other standards during the current period, with January 1, 2018 as the date of initial application. IFRS 9 introduces new rules on: 1) classification and measurement of financial assets and financial liabilities, 2) impairment of financial assets, and 3) hedge accounting. Additionally, the Group adopted consequential amendments to IFRS 7 Financial Instruments: Disclosures that were applied to the disclosures for 2018. The Group decided not to restate the prior period figures when applying the Standard for the first time, and as such the comparative consolidated financial statements are not restated. The main contents of the new accounting standard and the effect on the consolidated financial statements of the Group are as follows. a) Classification and measurement of financial assets All financial assets included in the scope of IFRS 9 are subsequently measured at amortized cost or fair value based on the Group’s business model for the management of financial assets and the nature of the contractual cash flows of the financial assets. Debt instruments that are held within a business model whose objective is to collect the contractual cash flows, and that have contractual cash flows that are solely payments of principal and interest on the principal outstanding are generally measured at amortized cost at the end of subsequent accounting periods (Financial assets at amortized cost). Debt instruments that are held within a business model whose objective is achieved both by collecting contractual cash flows and selling financial assets, and that have contractual cash flows that are solely payments of principal and interest on the principal outstanding are generally measured at fair value through other comprehensive income (Financial assets at fair value through other comprehensive income (“FVTOCI”)). All other debt instruments and equity instruments are measured at their fair value at the end of subsequent accounting periods, and any change in the fair value is recognized as profit or loss (Financial assets at fair value through profit or loss (“FVTPL”)). Notwithstanding the foregoing, the Group may make the following irrevocable choice or designation at the time of initial recognition of a financial asset. The Group may make an irrevocable election to present in other comprehensive income subsequent changes in the fair value of an investment in an equity instrument within the scope of this standard that is neither held for trading nor is a contingent consideration recognized by an acquirer in a business combination to which IFRS 3(R) applies. At initial recognition, financial assets at amortized cost or FVTOCI may be irrevocably designated as financial assets at fair value through profit or loss mandatorily measured at fair value if doing so eliminate or significantly reduce a measurement or recognition inconsistency. As of the date of initial application of IFRS 9, there are no debt instruments classified either as financial assets at amortized cost or FVTOCI that are designated as financial assets at fair value through profit or loss. When debt instruments measured at FVTOCI are derecognized, the cumulative gain or loss recognized in other comprehensive income is reclassified from equity to profit or loss as a reclassification adjustment. On the other hand, for equity instruments designated as financial assets at fair value through other comprehensive income, cumulative gains or losses previously recognized in other comprehensive income are not subsequently reclassified to retained earnings. Debt instruments measured subsequently at amortized cost or at FVTOCI are subject to impairment. The classification and measurement of financial assets and liabilities in accordance with IFRS 9 and IAS 39 as of January 1, 2018 are as follows (Unit: Korean Won in millions): Classification in IAS 39 Classification in IFRS 9 Amount in IAS 39 Reclassification Remeasurement (*2) Amount in Deposit Loans and receivables Loan and other financial assets at amortized cost 8,870,835 — — 8,870,835 Deposit Financial assets at FVTPL Financial assets at FVTPL 25,972 — — 25,972 Debt securities Financial assets at FVTPL Financial assets at FVTPL (*1) 2,654,027 — — 2,654,027 Equity securities Financial assets at FVTPL Financial assets at FVTPL (*1) 47,304 — — 47,304 Derivative assets Financial assets at FVTPL Financial assets at FVTPL (*1) 3,115,775 (2,137 ) — 3,113,638 Equity securities AFS financial assets Financial assets at FVTPL (*1) 1,273,498 1,219 — 1,274,717 Equity securities AFS financial assets Financial assets at FVTOCI 850,207 — — 850,207 Debt securities AFS financial assets Financial assets at FVTPL 46,855 — — 46,855 Debt securities AFS financial assets Financial assets at FVTOCI 12,874,209 — — 12,874,209 Debt securities AFS financial assets Securities at amortized cost 308,181 — 14,119 322,300 Debt securities HTM financial assets Securities at amortized cost 16,749,296 — — 16,749,296 Loans Loans and receivables Financial assets at FVTPL (*1) 279,032 918 50 280,000 Loans Loans and receivables Loan and other financial assets at amortized cost 253,014,491 — — 253,014,491 Derivative assets (Designated for hedging) Derivative assets (Designated for hedging) Derivative assets (Designated for hedging) 59,272 — — 59,272 Other financial assets Loans and receivables Loan and other financial assets at amortized cost 6,772,088 — — 6,772,088 Total financial assets 306,941,042 — 14,169 306,955,211 Deposit due to customers Financial liabilities at FVTPL Financial liabilities at FVTPL 25,964 — — 25,964 Deposit due to customers Financial liabilities at amortized cost Financial liabilities at amortized cost 234,695,084 — — 234,695,084 Borrowings Financial liabilities at amortized cost Financial liabilities at amortized cost 14,784,706 — — 14,784,706 Debentures Financial liabilities at FVTPL Financial liabilities at FVTPL 91,739 — — 91,739 Debentures Financial liabilities at amortized cost Financial liabilities at amortized cost 27,869,651 — — 27,869,651 Equity-linked securities Financial liabilities at FVTPL Financial liabilities at FVTPL 160,057 — — 160,057 Derivatives liabilities Financial liabilities at FVTPL Financial liabilities at FVTPL 3,150,149 — — 3,150,149 Derivatives liabilities (Designated for hedging) Derivatives liabilities (Designated for hedging) Derivatives liabilities (Designated for hedging) 67,754 — — 67,754 Other financial liabilities Financial liabilities at amortized cost Financial liabilities at amortized cost 13,892,461 — — 13,892,461 Provision for financial guarantee Provision Financial liabilities at amortized cost 71,697 — — 71,697 Total financial liabilities 294,809,262 — — 294,809,262 (*1) Under IAS 39, the embedded derivatives out of hybrid financial instruments were accounted for as derivative assets or liabilities if the criteria for separation of the embedded derivatives were met; and the host contracts in those instruments were recorded as available-for-sale (*2) The remeasurement effect due to expected credit losses is not included (The remeasurement effect of expected credit losses is as follows: b) Impairment of financial assets). At the date of the initial application of IFRS 9, there were no financial assets or liabilities measured at FVTPL that were reclassified to FVTOCI or amortized cost category. The financial assets at FVTPL or FVTOCI that are reclassified to the amortized cost measurement category as of the date of initial application of IFRS 9, and the related valuation gain or loss and fair value of the financial assets as of December 31, 2018 had it not been reclassified, are as follows (Unit: Korean Won in millions): Account subject Category before the adoption of Amount of valuation gain/loss Fair value Debt securities (*) AFS financial assets 2 257,665 (*) Those financial assets that are removed from the books as of December 31, 2018 are not presented in the table above. b) Impairment of financial assets The impairment model under IFRS 9 reflects expected credit losses, as opposed to incurred credit losses under IAS 39. Under the impairment approach in IFRS 9, it is no longer necessary for a credit event to have occurred before credit losses are recognized. Instead, the Group accounts for expected credit losses and changes in those expected credit losses. The amount of expected credit losses should be updated at each reporting date to reflect changes in credit risk since initial recognition. The Group is required to recognize the expected credit losses for financial instruments measured at amortized cost or FVTOCI (debt instrument), and unused loan commitments and financial guarantee contracts that are subject to the impairment provisions of IFRS 9. In particular, IFRS 9 requires the Group to measure the loss allowance for a financial instrument at an amount equal to the lifetime expected credit losses (ECL) if the credit risk on that financial instrument has increased significantly since initial recognition, or if the financial instrument is a purchased or originated credit-impaired financial asset. If the credit risk of a financial instruments does not increase significantly after initial recognition (excluding “purchased or originated credit-impaired loans”—for financial assets already impaired at initial recognition), the Group measures the loss allowance on the financial instruments at the amount equivalent to the expected 12-month Management assessed the impairment of the Group’s financial assets, lending arrangements and financial guarantees at the date of initial application by using reasonable and supportive measures that can be used without undue cost or effort in determining the credit risk of the financial instruments at initial recognition in accordance with IFRS 9 and in comparing above credit risk with the credit risk at the date of initial application. As of January 1, 2018, the results of the assessment are as follows (Unit: Korean Won in millions): Classification in IAS 39 Classification in Loss allowance Loss allowance Increases (B-A) Deposit Loans and receivables Loans and other financial assets at amortized cost 2,458 3,092 634 Debt securities AFS securities AFS financial assets Financial assets at FVTOCI — 4,236 4,236 HTM securities HTM financial assets Securities at amortized cost — 5,078 5,078 Loans and other financial assets Loans and receivables Loans and other financial assets at amortized cost 1,827,785 2,076,873 249,088 Payment guarantee 183,247 192,924 9,677 Loan commitment 66,115 104,985 38,870 Total 2,079,605 2,387,188 307,583 c) Classification and measurement of financial liabilities One of the major changes related to the classification and measurement of financial liabilities as a result of the adoption of IFRS 9 is the accounting for change in the fair value of financial liabilities designated as at fair value through profit or loss due to the changes in issuer’s own credit risk. The Group recognizes the effect of changes in the credit risk of financial liabilities designated as at FVTOCI in other comprehensive income, except for cases where it creates or enlarges accounting mismatch of the profit or loss. Changes in fair value due to credit risk of financial liabilities are not subsequently reclassified to profit or loss, but are reclassified as retained earnings when financial liabilities are derecognized. In accordance with IAS 39, the entire of changes in fair value of financial liabilities designated as at FVTPL are recognized in profit or loss. As of January 1, 2018, the Group designated 251,796 million Korean Won of FVTPL out of 294,813,795 million of financial liabilities to be measured at FVTPL, and recognized 133 million Korean Won as accumulated other comprehensive loss in relation to the changes in own credit risk of financial liabilities. d) Hedge accounting The new hedge accounting model maintains three types of hedge accounting. However, it introduced more flexibility in the types of transactions that are eligible for hedge accounting and expanded the types of hedging instruments and non-financial In accordance with the transitional provisions of IFRS 9 on hedge accounting, the Group adopted the hedge accounting provisions of IFRS 9 prospectively from January 1, 2018. As of the date of initial application, the Group concluded that the hedging relationship in accordance with IAS 39 is appropriate for hedge accounting under IFRS 9, thus the hedging relationship is considered to exist continually. Since the major conditions for hedging instruments and the hedged items are consistent, all hedging relationships are consistent within the effectiveness assessment requirements of IFRS 9. The Group has not designated a hedging relationship in accordance with IFRS 9 in which the hedge relationship would not have met the requirements for hedge accounting under IAS 39. e) Effect on equity as a result of adoption of IFRS 9 The effect on equity due to the adoption of IFRS 9 as of January 1, 2018 is as follows (Unit: Korean Won in millions): • Impact on accumulated other comprehensive loss due to financial assets at FVTOCI, etc. Amount Balance as of December 31, 2017 (prior to IFRS 9) (89,723 ) Adjustments (392,177 ) Reclassification of available-for-sale (152,124 ) Recognition of expected credit losses of debt securities at FVTOCI 4,293 Reclassification of available for sale financial assets(equity securities) to financial assets at FVTOCI (397,508 ) Effect on changes in credit risk of financial liabilities at fair value through profit or loss designated as upon initial recognition (133 ) Others 3,499 Income tax effect 149,796 Balance as of January 1, 2018 (based on IFRS 9) (481,900 ) • Retained earnings impact Amount Balance as of December 31, 2017 (prior to IFRS 9) 15,620,006 Adjustments 177,091 Reclassification of available-for-sale 152,124 Recognition of expected credit losses of debt instruments at FVTOCI (4,293 ) Reclassification of available-for-sale 397,508 Effect on revaluation of financial assets at amortized cost from loan and receivables or AFS financial assets 282 Recognition of expected credit losses of financial assets at amortized cost which were previously loan and receivables (240,683 ) Effect on provision for guarantees and unused loan commitments on liabilities (48,548 ) Effect on changes in credit risk of financial liabilities at fair value through profit or loss designated as upon initial recognition 133 Others (4,950 ) Income tax effect (74,482 ) Balance as of January 1, 2018 (based on IFRS 9) 15,797,097 |
Adoption of IFRS 15 - Revenue from contracts with customers(enacted) | • Adoption of IFRS 15—Revenue from contracts with customers (enacted) The Group adopted the requirements using the modified retrospective method, with the effect of initial application recognized on the date of initial application and without restatement of the comparative periods. Also, this standard is retroactively applied to contracts which are not completed as of the date of initial application, but practical expedient is used so that contract modifications made before the date of initial application are not retroactively restated. Accordingly, the Group has not retroactively restated the comparative consolidated financial statements presented herein. The effects of the adoption of IFRS 15 by Woori Card Co. Ltd., a subsidiary of Woori Bank, are as follows. Woori Card Co. Ltd. has modified its accounting policies related to the customer loyalty program, whereby rewards and points provided to the users of the card are deducted from revenue due to the fact that these are regarded as consideration provided to the customer. As a result of the aforementioned accounting policy modification, Fees and Commission Received on Credit Card and Fees and Commission Paid for Credit Card are both reduced by 525,978 million Won. On the other hand, accounting change modifications resulting from the adoption of IFRS 15 did not have any significant effect on the Consolidated Statement of Financial Position, the capital and the Consolidated Statement of Cash Flows. |
Amendments to IFRS 2 - Classification and Measurement of Share-based Payment Transactions | • Amendments to IFRS 2—Classification and Measurement of Share-based Payment Transactions The amendments clarify that: 1) When measuring the fair value of share-based payment, the effects of vesting and non-vesting |
Amendments to IAS 40 - Transfers of Investment Property | • Amendments to IAS 40—Investment Property The amendments clarify that a transfer to, or from, investment property necessitates an assessment of whether a property meets the definition of investment property, supported by observable evidence that a change in use has occurred. The amendments further clarify that the situations listed in IAS 40 are not exhaustive and that a change in use is possible for properties under construction (i.e. a change in use is not limited to completed properties). |
Amendments to IFRIC 22 - Foreign Currency Transactions and Advance Consideration | • Amendments to IFRIC 22—Foreign Currency Transactions and Advance Consideration The interpretation addresses how to determine the ‘date of transaction’ for the purpose of determining the exchange rate to use on initial recognition of an asset, expense or income (or part of them) as a result of the derecognition of a non-monetary non-monetary non-refundable non-monetary non-monetary |
Annual Improvements to IFRS 2014-2016 Cycle | • Annual Improvements to IFRS 2014-2016 Cycle The amendments include partial amendments to IFRS 1 ‘First-time Adoption of IFRS’ and IAS 28 ‘Investments in Associates and Joint Ventures.’ Amendments to IAS 28 provide that an investment company such as a venture capital investment vehicle may selectively designate each of its investment in associates and/or joint ventures to be measured at fair value through profit or loss mandatorily measured at fair value, and that such designation must be made at the time of each investment’s initial recognition. In addition, when non-investment |
IFRS 16 - Leases(enacted) | 2) The Group has not applied the following IFRS that have been issued but are not yet effective: • IFRS 16—Leases(enacted) IFRS 16 introduces a comprehensive model for the identification of lease arrangements and accounting treatments for both lessors and lessees. IFRS 16 will supersede the current lease guidance including IAS 17 Leases and the related interpretations, and will be applied to periods beginning on or after January 1, 2019. The Group plans to apply modified retrospective approach as of January 1, 2019 in accordance with IFRS 16. Therefore, the cumulative effect of applying IFRS 16 will be adjusted in the retained earnings (or, where appropriate, other components of equity) at the date of initial application, and the comparative financial statements will not be restated. IFRS 16 distinguishes leases and service contracts on the basis of whether an identified asset is controlled by a customer. Distinctions of operating leases and finance leases are removed for lessee accounting, and is replaced by model where a right-of-use The right-of-use In contrast to lessee accounting, IFRS 16 substantially carries forward the lessor accounting requirements in IAS 17, and continues to require a lessor to classify a lease either as an operating lease or a finance lease. Also, IFRS 16 requires expanded disclosures. According to the preliminary assessment of the Group, the lease agreements entered into by the Group as of December 31, 2018 are expected to meet the definition of lease under the Standard, and accordingly, if the Group adopts the Standard, it applies to all leases except short-term leases and leases of low value assets, and the Group will recognize the right-of-use right-of-use |
Basis of consolidated financial statement presentation | (2) Basis of consolidated financial statement presentation The consolidated financial statements incorporate the financial statements of Woori Financial Group and the entities (including structured entities) controlled by Woori Financial Group (and its subsidiaries, which is the “Group”). Control is achieved where the Group 1) has the power over the investee, 2) is exposed, or has rights, to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. The Group reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control listed above. When the Group has less than a majority of the voting rights of an investee, it has power over the investee when the voting rights are sufficient to give it the practical ability to direct the relevant activities of the investee unilaterally. The Group considers all relevant facts and circumstances in assessing whether or not the Group’s voting rights in an investee are sufficient to give it power, including: • The relative size of the Group’s holding of voting rights and dispersion of holdings of the other vote holders; • Potential voting rights held by the Group, other vote holders or other parties; • Rights arising from other contractual arrangements; • Any additional facts and circumstances that indicate that the Group has, or does not have, the current ability to direct the relevant activities at the time that decisions need to be made, including voting patterns at previous shareholders’ meetings. Income and expenses of subsidiaries acquired or disposed of during the year are included in the consolidated statement of comprehensive income from the date the Group gains control until the date when the Group ceases to control the subsidiary. Profit or loss and each component of other comprehensive income are attributed to the owner of the Group and to the non-controlling non-controlling non-controlling Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with the Group’s accounting policies. All intra-group transactions and, related assets and liabilities, income and expenses are eliminated in full on consolidation. Changes in the Group’s ownership interests in subsidiaries that do not result in the Group losing control over the subsidiaries are accounted for as equity transactions. The carrying amounts of the Group’s interests and the non-controlling non-controlling When the Group loses control of a subsidiary, a gain or loss on disposal is calculated as the difference between (i) the aggregate of the fair value of the consideration received and the fair value of any retained interest and (ii) the previous carrying amount of the assets (including goodwill), and liabilities of the subsidiary and any non-controlling |
Business combinations | (3) Business combinations Acquisitions of subsidiaries and businesses are accounted for using the acquisition method. The consideration transferred in a business combination is measured as the sum of the acquisition-date fair values of the assets transferred by the Group in exchange for control of the acquiree, liabilities assumed by the Group for the former owners of the acquiree and the equity interests issued by the Group. Acquisition-related costs are generally recognized in profit or loss as incurred. At the acquisition date, the acquiree’s identifiable assets, liabilities and contingent liabilities that meet the condition for recognition under IFRS 3(R) are recognized at their fair value, except that: • deferred tax assets or liabilities and assets or liabilities related to employee benefit arrangements are recognized and measured in accordance with IAS 12 Income Taxes and IAS 19 Employee Benefits, respectively; • liabilities or equity instruments related to share-based payment arrangements of the acquiree or share-based payment arrangements of the Group entered into to replace share-based payment arrangements of the acquiree are measured in accordance with IFRS 2 Share-based Payment at the acquisition date; and • non-current Non-current Any excess of the sum of the consideration transferred, the amount of any non-controlling If, after reassessment, the Group’s interest in the fair value of the acquiree’s identifiable net assets exceeds the sum of the consideration transferred, the amount of any non-controlling Non-controlling non-controlling transaction-by-transaction non-controlling When the consideration transferred by the Group in a business combination includes assets or liabilities resulting from a contingent consideration arrangement, the contingent consideration is measured at its acquisition-date fair value and included as part of the consideration transferred in a business combination. Changes in the fair value of the contingent consideration that qualify as measurement period adjustments are adjusted retrospectively, with corresponding adjustments against goodwill. Measurement period adjustments are adjustments that arise from additional information obtained during the ‘measurement period’ (which cannot exceed one year from the acquisition date) about facts and circumstances that existed at the acquisition date. The subsequent accounting for changes in the fair value of the contingent consideration that do not qualify as measurement period adjustments depends on how the contingent consideration is classified. Contingent consideration that is classified as equity is not remeasured at subsequent reporting dates and its subsequent settlement is accounted for within equity. Contingent consideration other than the above is remeasured at subsequent reporting dates as appropriate, with the corresponding gain or loss being recognized in profit or loss. When a business combination is achieved in stages, the Group’s previously held equity interest in the acquiree is remeasured at fair value at the acquisition date (i.e., the date when the Group obtains control) and the resulting gain or loss, if any, is recognized in net income(or other comprehensive income, if applicable). Amounts arising from changes in value of interests in the acquiree prior to the acquisition date that have previously been recognized in other comprehensive income are recognized, identical to the treatment assuming interests are sold directly. In case where i) a common entity ultimately controls over all participating entities, or businesses, in a business combination transaction, prior to and after the transaction continuously, and ii) the control is not temporary, the transaction meets the definition of “business combination under common control” and it is deemed that the transaction only results in the changes in legal substance, and not economic substance, from the perspective of the ultimate controlling party. Thus, in such transactions, the acquirer recognizes the assets and liabilities of the acquiree in its financial statements at the book values as recognized in the ultimate controlling party’s consolidated financial statements, and the difference between the book value of consideration transferred to and the book value of net assets transferred in is recognized as equity. |
Investments in joint ventures and associates | (4) Investments in joint ventures and associates An associate is an entity over which the Group has significant influence, and that is not a subsidiary or a joint venture. Significant influence is the power to participate in making decision on the financial and operating policy of the investee but is not control or joint control over those policies. A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to net assets relating to the arrangement. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. The net income of current period and the financial assets and liabilities of the joint ventures and associates are incorporated in these consolidated financial statements using the equity method of accounting, except when the investment is classified as held for sale, in which case it is accounted for in accordance with IFRS 5 Non-current Any excess of the cost of acquisition over the Group’s share of the net fair value of the identifiable assets, liabilities and contingent liabilities of the joint ventures and associates recognized at the date of acquisition is recognized as goodwill, which is included within the carrying amount of the investment. Any excess of the Group’s share of the net fair value of the identifiable assets, liabilities and contingent liabilities over the cost of acquisition is recognized immediately in net income. Upon a loss of significant influence over the joint ventures and associates, the Group discontinues the use of the equity method and measures at fair value of any investment that the Group retains in the former joint ventures and associates from the date when the Group loses significant influence. The fair value of the investment is regarded as its fair value on initial recognition as a financial asset in accordance with IFRS 9 Financial Instruments; Recognition and Measurement. The Group recognized differences between the carrying amount and fair value in net income and it is included in determination of the gain or loss on disposal of joint ventures and associates. The Group accounts for all amounts recognized in other comprehensive income in relation to that joint ventures and associates on the same basis as would be required if the joint ventures and associates had directly disposed of the related assets or liabilities. Therefore, if a gain or loss previously recognized in other comprehensive income by an associate would be reclassified to net income on the disposal of the related assets or liabilities, the Group reclassifies the gain or loss from equity to net income as a reclassification adjustment. When the Group’s ownership of interest in an associate or a joint venture decreases but the Group continues to maintain significant influence over an associate or a joint venture, the Group reclassifies to profit or loss the proportion of the gain or loss that had previously been recognized in other comprehensive income relating to that decrease in ownership interest if the gain or loss would be reclassified to profit or loss on the disposal of the related assets or liabilities. Meanwhile, if interest on associate or joint venture meets the definition of non-current The requirements of IAS 28—Investments in Associates and Joint Ventures to determine whether there has been a loss event are applied to identify whether it is necessary to recognize any impairment loss with respect to the Group’s investment in the joint ventures and associates. When necessary, the entire carrying amount of the investment (including goodwill) is tested for impairment in accordance with IAS 36— Impairment of Assets The Group continues to use the equity method when an investment in an associate becomes an investment in a joint venture or an investment in a joint venture becomes an investment in an associate. There is no remeasurement to fair value upon such changes in ownership interests. When a subsidiary transacts with an associate or a joint venture of the Group, profits and losses resulting from the transactions with the associate or joint venture are recognized in the Group’s consolidated financial statements only to the extent of interests in the associate or joint venture that are not related to the Group. |
Investment in joint operation | (5) Investment in Joint operation A joint operation is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the assets, and obligations for the liabilities, relating to the arrangement. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. When the Group operates as a joint operator, it recognizes in relation to its interest in a joint operation: • its assets, including its share of any assets held jointly; • its liabilities, including its share of any liabilities incurred jointly; • its revenue from the sale of its share of the output arising from the joint operation; • its share of the revenue from the sale of the output by the joint operation; and • its expenses, including its share of any expenses incurred jointly. The Group accounts for the assets, liabilities, revenues and expenses relating to its interest in a joint operation in accordance with the IFRSs applicable to the particular assets, liabilities, revenues and expenses. When the Group enters into a transaction with a joint operation in which it is a joint operator, such as a sale or contribution of assets, it is conducting the transaction with the other parties to the joint operation and, as such, the Group recognizes gains and losses resulting from such a transaction only to the extent of the other parties’ interests in the joint operation. When the Group enters into a transaction with a joint operation in which it is a joint operator, such as a purchase of assets, it does not recognize proportional share of profit or loss until the asset is sold to a third party. |
Revenue recognition | (6) Revenue recognition IAS 18 allowed recognition of fees and commission income, a revenue from contracts with customers, in accordance with the accrual principle. However, IFRS 15, applicable from the current period, requires the recognition of revenues based on transaction price allocated to the performance obligation when or as the Group performs that obligation to the customer. Since revenues other than those from contracts with customers, such as interest revenue and loan origination fee (cost), are measured through effective interest rate method, the revenue recognition principles are identical with those applied in the previous periods. 1) Revenues from contracts with customers The Group recognizes revenue when the Group satisfies a performance obligation by transferring a promised good or service to a customer. When a performance obligation is satisfied, the Group shall recognizes as a revenue the amount of the transaction price that is allocated to that performance obligation. The transaction price is the amount of consideration to which the Group expects to be entitled in exchange for transferring promised goods or services to a customer, excluding amounts collected on behalf of third parties. The Group is recognizing revenue by major sources as shown below: 1) Fees and commission received for brokerage The fees and commission received for agency are the amount of consideration or fee expected to be entitled to receive in return for providing goods or services to the other parties with the Group acting as an agency, such as in the case of sales of bancassurance and beneficiary certificates. The majority of these fees and commission received for brokerage are from the business activities relevant to Consumer banking segment. 2) Fees and commission received related to credit The fees and commission received related to credit mainly include the lending fees received from the loan activity and the fees received in the L/C transactions. Except for the fees and commission accounted for in calculating the effective interest rate, it is generally recognized when the performance obligation has been performed. The majority of these fees and commission received related to credit are from the business activities relevant to Consumer banking and Corporate banking segment. 3) Fees and commission Received for electronic finance The fees and commission received for electronic finance include fees received in return for providing various kinds of electronic financial services through firm-banking and CMS. These fees are recognized as revenue immediately upon the completion of services. The majority of these fees and commission received for electronic finance are from the business activities relevant to Consumer banking and Corporate banking segment. 4) Fees and commission received on foreign exchange handling The fees and commission received on foreign exchange handling consist of various fees incurred when transferring foreign currency. The point of processing the customer’s request is the time when performance obligation is satisfied, and revenue is immediately recognized when fees and commission are received after requests are processed. The business activities relevant to these fees and commission received on foreign exchange handling are substantially attributable to Corporate banking segment. 5) Fees and commission received on foreign exchange The fees and commission received on foreign exchange consist of fees related to the issuance of various certificates, such as exchange, import and export performance certificates, purchase certificates, etc. The point of processing the customer’s request is the time when performance obligation is satisfied, and revenue is immediately recognized when fees and commission are received after requests are processed. The business activities relevant to these fees and commission received on foreign exchange are substantially attributable to Corporate banking segment. 6) Fees and commission received for guarantee The fees and commission received for guarantee include the fees received for the various warranties. The activities related to the warranty consist mainly of performance obligations satisfied over time and fees and commission are recognized over the guarantee period. The business activities relevant to these fees and commission received for guarantee are substantially attributable to Corporate banking segment. 7) Fees and commission received on credit card The fees and commission received on credit card consist mainly of merchant account fees and annual fees. The Group recognizes merchant account fees by multiplying agreed commission rate to the amount paid by using the credit card. The annual fees are performance obligation satisfied over time and are recognized over agreed periods after the annual fees are paid in advance. The business activities relevant to these fees and commission received on credit card are substantially attributable to Credit cards segment. 8) Fees and commission received on securities business The fees and commission received on securities business consist mainly of fees and commission for the sale of beneficiary certificates, and these fees are recognized when the beneficiary certificates are sold to customers. The business activities relevant to these fees and commission received on securities business are substantially attributable to Consumer banking segment. 9) Fees and commission from trust management The fees and commission from trust management consist of fees and commission received in return for the operation and management services for entrusted assets. These operation and management services are performance obligations satisfied over time, and revenue is recognized over the service period. Among the fees and commission from trust management, variable considerations such as profit commission that are affected by the value of entrusted assets and base return of the future periods are recognized as revenue when limitations to the estimates are lifted. The majority of these fees and commission received for brokerage are from the business activities relevant to Consumer banking segment. 10) Fees and commission received on credit Information The fees and commission received on credit Information are composed of the fees and commission received by performing credit investigation and proxy collection services. Credit investigation fees and commission are the amount received in return for verifying the information requested by the customer and are recognized as revenue at the time the verification is completed. Proxy collection service fees are recognized by multiplying the applicable rate to the collected amount at the time when collection services are completed. The majority of these fees and commission received for brokerage are from the business activities relevant to Consumer banking segment. 11) Other fees Other fees are usually fees related to remittances, but include fees related to various other services provided to customers by the Group. These fees are recognized when transactions occur at the customers’ request and services are provided, at the same time when commission are received. These other fees occur across all operating segments and no single operating segment represent majority of other fees. 2) Revenues from sources other than contracts with customers 1) Interest income Interest income on financial assets measured at FVTOCI and financial assets at amortized costs is measured using the effective interest method. The effective interest method is a method of calculating the amortized cost of a debt instrument and of allocating the interest income over the expected life of the asset. The effective interest rate is the rate that exactly discounts estimated future cash flows to the instrument’s initial unamortized cost over the expected period, or shorter if appropriate. Future cash flows include commissions and cost of reward points(limited to the primary component of effective interest rate) and other premiums or discounts that are paid or received between the contractual parties when calculating the effective interest rate, but does not include expected credit losses. All contractual terms of a financial instrument are considered when estimating future cash flows. For purchased or originated credit-impaired financial assets, interest revenue is recognized by applying the credit-adjusted effective interest rate to the amortized cost of the financial asset from initial recognition. Even if the financial asset is no longer impaired in the subsequent periods due to credit improvement, the basis of interest revenue calculation is not changed from amortized cost to unamortized cost of the financial assets. 2) Loan origination fees and costs The commission fees earned on loans, which is part of the effective interest of loans, is accounted for as deferred origination fees. Incremental costs related to the origination of loans are accounted for as deferred origination fees and is being added or deducted to/from interest income on loans using effective interest rate method. |
Accounting for foreign currencies | (7) Accounting for foreign currencies The Group’s consolidated financial statements are presented in Korean won, which is the functional currency of the Group. At the end of each reporting period, monetary assets and liabilities denominated in foreign currencies are translated to the functional currency at its prevailing exchange rates at the date. The effective portion of the changes in fair value of a derivative that qualifies as a cash flow hedge and the foreign exchange differences on monetary items that form part of net investment in foreign operations are recognized in equity. Assets and liabilities of the foreign operations subject to consolidation are translated into Korean Won at foreign exchange rates at the end of the reporting period. Except for situations in which it is required to use exchange rates at the date of transaction due to significant changes in exchange rates during the period, items that belong to profit or loss shall be measured by average exchange rate, with foreign exchange differences recognized as other comprehensive income and added to equity (allocated to non-controlling non-controlling Adjustments to fair value of identifiable assets and liabilities, and goodwill arising from the acquisition of foreign operations will be treated as assets and liabilities of the corresponding foreign operation, and is translated using foreign exchange rates at the end of the period. The foreign exchange differences are recognized in equity. |
Cash and cash equivalents | (8) Cash and cash equivalents The Group is classifying cash on hand, demand deposits, interest-earning deposits with original maturities of up to three months on acquisition date, and highly liquid investments that are readily convertible to known amounts of cash and subject to an insignificant risk of changes in value as cash and cash equivalents. |
Financial assets and financial liabilities | (9) Financial assets and financial liabilities The Group’s accounting policies in accordance with the newly adopted IFRS 9 are as follows: 1) Financial assets A regular way purchase or sale of financial assets is recognized or derecognized on the trade or settlement date. A regular way purchase or sale is a purchase or sale of a financial asset under a contract whose term requires delivery of the asset within the time frame established generally by regulation or convention in the marketplace concerned. On initial recognition, financial assets are classified into financial assets at FVTPL, financial assets at FVTOCI, and financial assets at amortized cost. a) Business model The Group evaluates the way business is being managed, and the purpose of the business model for managing a financial asset best reflects the way information is provided to the management at its portfolio level. Such information considers the following: • The accounting policies and purpose specified for the portfolio, the actual operation of such policies. This includes strategy of the management focusing on the receipt of contractual interest revenue, maintaining a certain level of interest income, matching the duration of financial assets and the duration of corresponding liabilities to obtain the asset, and outflow or realization of expected cash flows from disposal of assets • The way the performance of a financial asset held under the business model is evaluated, and the way such evaluation is being reported to the management • The risk affecting the performance of the business model (and financial assets held under the business model), and the way such risk is being managed • The compensation plan for the management (e.g. whether the management is being compensated based on the fair value of assets or based on contractual cash flows received) • Frequency, amount, timing and reason for sale of financial assets in the past, and forecast of future sale activities. b) Contractual cash flows The principal is defined to be the fair value of a financial assets at initial recognition. Interest is not only composed of consideration for the time value of money, consideration for the credit risk related to remaining principal at a certain period of time, and consideration for other cost (e.g. liquidity risk and cost of operation) and fundamental risk associated with lending, but also profit. When evaluating whether contractual cash flows are solely payments of principal and interests, the Group considers the contractual terms of the financial instrument. When a financial asset contains contractual conditions that modify the timing and amount of contractual cash flows, it is required to determine whether contractual cash flows that arise during the remaining life of the financial instrument due to such contractual condition are solely payments of principal and interest. The Group considers the following elements when evaluating the above: • Conditions that lead to modification of timing or amount of cash flows • Contractual terms that adjusts contractual nominal interest, including floating rate feature • Early payment features and maturity extension features • Contractual terms that limit the Group’s claim on cash flows arising from certain assets (e.g. non-recourse 1) Financial assets at FVTPL The Group is classifying those financial assets that are not classified as either financial assets at amortized cost or financial assets at FVTOCI, and those designated to be measured at FVTPL, as financial assets at FVTPL. Financial assets at FVTPL are measured at fair value, and related profit or loss is recognized in net income. Transaction costs related to acquisition at initial recognition is recognized in net income immediately upon its occurrence. It is possible to designate a financial asset as financial asset at FVTPL if at initial recognition: (a) it is possible to remove or significantly reduce recognition or measurement mismatch that may otherwise have occurred if not for its designation as financial asset at FVTPL; (b) the financial asset forms part of the Group’s financial instrument group (A group composed of a combination of financial asset or liability), is measured at fair value and is being evaluated for its performance, and such information is provided internally; and (c) the financial asset is part of a contract that contains one or more of embedded derivatives, and is a hybrid contract in which designation as financial asset at FVTPL is allowed under IFRS 9 ‘Financial Instruments’. However, the designation is irrevocable. 2) Financial assets at FVTOCI When financial assets are held under a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets, and when contractual cash flows from such financial assets are solely payments of principal and interest, the financial assets are classified as financial assets at FVTOCI. Also, for investments in equity instruments that are not held for short-term trade, an irrevocable election is available at initial recognition to present subsequent changes in fair value as other comprehensive income. At initial recognition, financial assets at FVTOCI is measured at its fair value plus any direct transaction cost, and is subsequently measured in fair value. However, for equity instruments that do not have a quotation in an active market and in which fair value cannot be measured reliably, they are measured at cost. The changes in fair value except for profit or loss items such as impairment losses (reversals), interest revenue calculated by using effective interest method, and foreign exchange gain or loss, and related income tax effects are recognized as other comprehensive income until the asset’s disposal. Upon derecognition, the accumulated other comprehensive income is reclassified from equity to net income for FVTOCI (debt instrument), and reclassified within the equity for FVTOCI (equity instruments). 3) Financial assets at amortized cost When financial assets are held under a business model whose objective is to hold financial assets in order to collect contractual cash flows, and when contractual cash flows from such financial assets are solely payments of principal and interest, the financial assets are classified as financial assets at amortized cost. At initial recognition, financial assets at amortized cost are recognized at fair value plus any direct transaction cost. Financial assets at amortized cost is presented at amortized cost using effective interest method, less any loss allowance. 2) Financial liabilities At initial recognition, financial liabilities are classified into either financial liabilities at FVTPL or financial liabilities at amortized cost. Financial liabilities are usually classified as financial liabilities at FVTPL when they are acquired with a purpose to repurchase them within a short period of time, when they are part of a certain financial instrument portfolio that is actually and recently being managed with a purpose of short-term profit and joint management by the Group at initial recognition, and when they are derivatives that do not qualify as hedging instruments. Financial liabilities at FVTPL are measured at fair value plus direct transaction cost at initial recognition, and are subsequently measured at fair value. Profit or loss arising from financial liabilities at FVTPL is recognized in net income when occurred. It is possible to designate a financial liability as financial liability at FVTPL if at initial recognition: (a) it is possible to remove or significantly reduce recognition or measurement mismatch that may otherwise have occurred if not for its designation as financial liability at FVTPL; (b) the financial asset forms part of the Group’s financial instrument group (A group composed of a combination of financial asset or liability) according to the Group’s documented risk management or investment strategy, is measured at fair value and is being evaluated for its performance, and such information is provided internally; and (c) the financial liability is part of a contract that contains one or more of embedded derivatives, and is a hybrid contract in which designation as financial liability at FVTPL is allowed under IFRS 9 ‘Financial Instruments’. Financial liabilities designated as at FVTPL are initially recognized at fair value, with any direct transaction cost recognized in profit or loss, and are subsequently measured at fair value. Any profit or loss from financial liabilities at FVTPL are recognized in profit or loss. Financial liabilities not classified as financial liabilities at FVTPL are measured at amortized cost. The Group is classifying liabilities such as deposits due to customers, borrowings and debentures as financial liabilities at amortized cost. 3) Reclassification Financial assets are not reclassified after initial recognition unless the Group modifies the business model used to manage financial assets. When the Group modifies the business model used to manage financial assets, all affected financial assets are reclassified on the first day of the first reporting period after the modification. 4) Derecognition Financial assets are derecognized when contractual rights to cash flows from the financial assets are expired, or when substantially all of risk and reward for holding financial assets is transferred to another entity as a result of a sale of financial assets. If the Group does not have and does not transfer substantially all of the risk and reward of holding financial assets with control of the transferred financial assets retained, the Group recognizes financial assets to the extent of its continuing involvement. If the Group holds substantially all the risk and reward of holding a financial asset, it continues to recognize that asset and proceeds are accounted for as collateralized borrowings. When a financial asset is fully derecognized, the difference between the book value and the sum of proceeds and accumulated other comprehensive income is recognized as profit or loss in case of FVTOCI (debt instruments), and as retained earnings for FVTOCI (equity instruments). In case when a financial asset is not fully derecognized, the Group allocates the book value into amounts retained in the books and removed from the books, based on the relative fair value of each portion at the date of sale, and based on the degree of continuing involvement. For the derecognized portion of the financial assets, the difference between its book value and the sum of proceeds and the portion of accumulated other comprehensive income attributable to that portion will be recognized in profit or loss in case of debt instruments and recognized in retained earnings in case of equity instruments. The accumulated other comprehensive income is distributed to the portion of book value retained in the books, and to the portion of book value removed from the books. The Group derecognizes financial liabilities when, and only when, the Group’s obligations are discharged, cancelled or have expired. The difference between the carrying amount of the financial liability derecognized and the consideration paid and payable is recognized in profit or loss. When the Group exchanges with the existing lender one debt instrument into another one with the substantially different terms, such exchange is accounted for as an extinguishment of the original financial liability and the recognition of a new financial liability. Similarly, the Group accounts for substantial modification of terms of an existing liability or part of it as an extinguishment of the original financial liability and the recognition of a new liability. It is assumed that the terms are substantially different if the discounted present value of the cash flows under the new terms, including any fees paid net of any fees received and discounted using the original effective rate, is at least 10 percent different from the discounted present value of the remaining cash flows of the original financial liability. 5) Fair value of financial instruments Financial assets at FVTPL and financial assets at FVTOCI are measured and presented in consolidated financial statements at their fair values, and all derivatives are also subject to fair value measurement. Fair value is defined as the price that would be received to exchange an asset or paid to transfer a liability in a recent transaction between independent parties that are reasonable and willing. Fair value is the transaction price of identical financial assets or financial liabilities generated in an active market. An active market is a market where trade volume is sufficient and objective price information is available due to the fact that bid and ask price differences are small. When trade volume of a financial instrument is low, when transaction prices within the market show large differences among them, or when it cannot be concluded that a financial instrument is being traded within an active market due to disclosures being extremely shallow, fair value is measured using valuation techniques based on alternative market information or using internal valuation techniques based on general and observable information obtained from objective sources. Market information includes maturity and characteristics, duration, similar yield curve, and variability measurement of financial instruments of similar nature. Fair value amount contains unique assumptions on each entity (the Group concluded that it is using assumptions applied in valuing financial instruments in the market, or risk-adjusted assumptions in case marketability does not exist). The market approach and income approach, which are valuation techniques used to estimate the fair value of financial instruments, both require significant judgment. Market approach measures fair value using either a recent transaction price that includes the financial instrument, or observable information on comparable firm or assets. Income approach measures fair value through discounting future cash flows with a discount rate reflecting market expectations, and revenue, operating income, depreciation, capital expenditures, income tax, working capital and estimated residual value of financial investments are being considered when deriving future cash flows. Valuation techniques such as the above include estimates based on the financial instruments’ complexity and usefulness of observable information in the market. The valuation techniques used in the evaluation of financial instruments are explained below. a) Financial assets at FVTPL and Financial assets at FVTOCI The fair value of equity securities included in financial assets at FVTPL and financial assets at FVTOCI category is recognized in the statement of financial position at its available market price. Debt securities traded in the over-the-counter b) Derivatives The Group’s transactions involving derivatives such as futures and exchange traded options are measured at market value. For exchange traded derivatives classified as level 2 in the fair value hierarchy, the fair value is estimated using internal valuation techniques. If there are no publicly available market prices because they are traded over-the-counter, c) Adjustment of valuation amount The Group is exposed to credit risk when counterparty to a derivative contract does not perform its contractual obligation, and the exposure amount is equal to the amount of derivative asset recognized in the statement of financial position. When the Group earns income through valuation of derivatives, such income is recognized as derivative asset in the statement of financial position. Some of the derivatives are traded in the market, but most of the derivatives are measured at estimated fair value derived from internal valuation models that use observable information in the market. As such, in order to estimate the fair value there should be an adjustment made to incorporate counterparty’s credit risk, and credit risk adjustment is being considered when valuing derivative assets such as over-the The amount of adjustment is derived from counterparty’s probability of default and loss given default. This adjustment considers contractual matters that are designed to reduce the Group’s exposure to each counterparty’s credit risk. When derivatives are under master netting arrangement, the exposure used in the computation of credit risk adjustment is a net amount after adding/deducting cash collateral received (or paid) from loss(or gain) position derivatives with the same counterparty. 6) Expected credit losses on financial assets The Group recognizes loss allowance on expected credit losses for the following assets: • Financial assets at amortized cost • Debt instruments measured at FVTOCI • Contract assets as defined by IFRS 15 Expected credit losses are weighted-average value of a range of possible results, considering the time value of money, and are measured by incorporating information on current conditions and forecasts of future economic conditions that are available without undue cost or effort. The methods to measure expected credit losses are classified into following three categories in accordance with IFRS: • General approach: Financial assets that does not belong to below two models and unused loan commitments • Simplified approach: When financial assets are either trade receivables, contract assets or lease receivables • Credit impairment model: Purchased or originated credit-impaired financial assets The measurement of loss allowance under general approach is differentiated depending on whether the credit risk has increased significantly after initial recognition. That is, loss allowance is measured based on 12-month The measurement of loss allowance under simplified approach is always based on lifetime expected credit loss, and loss allowance under credit impairment model is measured as the cumulative change in lifetime expected credit loss since initial recognition. a) Measurement of expected credit losses on financial asset at amortized cost The expected credit losses on financial assets at amortized cost is measured by the difference between the contractual cash flows during the period and the present value of expected cash flows. Expected cash inflows are computed for individually significant financial assets in order to calculate expected credit losses. When financial assets that are not individually significant, they are included in a group of financial assets with similar credit risk characteristics and expected credit losses of the group are calculated collectively. Expected credit losses are deducted through loss allowance account, and when the financial asset is determined to be uncollectible, the loss allowance is written off from the books along with the related financial asset. When loan receivable previously written off is subsequently collected, the related loss allowance is increased and changes in loss allowance are recognized in profit or loss. b) Measurement of expected credit losses on financial asset at FVTOCI The measurement method of expected credit loss is identical to financial asset at amortized cost, but changes in the loss allowance is recognized in other comprehensive income. When financial assets at FVTOCI is disposed or repaid, the related loss allowance is reclassified from other comprehensive income to net income. The comparative financial statements for the year 2017 are prepared in accordance with IAS 39. 1) Financial assets A regular way purchase or sale of financial assets is recognized or derecognized on the trade or settlement date. A regular way purchase or sale is a purchase or sale of a financial asset under a contract whose term requires delivery of the asset within the time frame established generally by regulation or convention in the marketplace concerned. On initial recognition, financial assets are classified into financial assets at fair value through profit or loss (“FVTPL”), AFS financial assets, held-to-maturity 1) Financial assets at FVTPL The Group classifies financial assets as financial assets measured at FVTPL when they are either held for trading or designated to be measured at FVTPL. Financial assets acquired with the purpose of selling in the near term are classified as financial assets held for trading, and are measured at fair value with related valuation gain or loss recognized in net income. Any transaction cost related to the acquisition of financial assets at initial recognition is recognized in net income upon its occurrence. A financial asset other than a financial asset held for trading may be designated as at FVTPL upon initial recognition if: (a) such designation eliminates or significantly reduces a measurement or recognition inconsistency that would otherwise arise; or (b) the financial asset forms part of a group of financial assets or financial liabilities or both, which is managed and its performance is evaluated on a fair value basis, in accordance with the Group’s documented risk management or investment strategy, and information about the grouping is provided internally on that basis; or (c) it forms part of a contract containing one or more embedded derivatives, and IAS 39 Financial Instruments: Recognition and Measurement permits the entire combined contract (asset or liability) to be designated as at FVTPL. Financial assets designated by the Group on initial recognition as at FVTPL are recognized at fair value, with transaction costs recognized in net income, and are subsequently measured at fair value. Gains and losses on financial assets that are designated as at FVTPL are recognized in net income as they arise. 2) AFS financial assets Financial assets that are not classified as HTM, financial assets at FVTPL, or loans and receivables, are classified as AFS. Financial assets can be designated as AFS on initial recognition. AFS financial assets are initially recognized at fair value plus directly related transaction costs. They are subsequently measured at fair value. Unquoted equity investments whose fair value cannot be measured reliably are carried at cost and classified as AFS financial assets. Impairment losses in monetary and non-monetary non-monetary 3) HTM financial assets A financial asset may be classified as a HTM investment only if it has fixed or determinable payments, a fixed maturity, and the Group has the positive intention and ability to hold the financial asset to maturity. HTM investments are initially recognized at fair value plus directly related transaction costs. They are subsequently measured at amortized cost using the effective interest method less any impairment losses. 4) Loans and other receivables Non-derivative held-for-trading, 2) Financial liabilities On initial recognition financial liabilities are classified financial liabilities at FVTPL (held for trading, and financial liabilities designated as at FVTPL) and financial liabilities measured at amortized cost. A financial liability is classified as held-for-trading Held-for-trading A financial liability other than a financial liability held for trading may be designated as at FVTPL upon initial recognition if: (a) such designation eliminates or significantly reduces a measurement or recognition inconsistency that would otherwise arise; or (b) the financial liability forms part of a group of financial assets or financial liabilities or both, which is managed and its performance is evaluated on a fair value basis, in accordance with the Group’s documented risk management or investment strategy, and information about the grouping is provided internally on that basis; or (c) it forms part of a contract containing one or more embedded derivatives, and IAS 39 Financial Instruments: Recognition and Measurement permits the entire combined contract (asset or liability) to be designated as at FVTPL. Financial liabilities that the Group designates on initial recognition as being at FVTPL are recognized at fair value, with transaction costs being recognized in net income, and are subsequently measured at fair value. Gains and losses on financial liabilities that are designated as at FVTPL are recognized in net income as they incur. All other financial liabilities, such as deposits due to customers, borrowings, and debentures, are measured at amortized cost using the effective interest method. 3) Reclassification Held-for-trading (non-derivative 4) Derecognition The Group derecognizes a financial asset when the contractual right to the cash flows from the asset is expired, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another company. If the Group neither transfers nor retains substantially all the risks and rewards of ownership and continues to control the transferred asset, the Group recognizes its retained interest in the asset and an associated liability for amounts it may have to pay. If the Group retains substantially all the risks and rewards of ownership of a transferred financial asset, the Group continues to recognize the financial asset and also recognizes a collateralized borrowing for the proceeds received. On derecognition of a financial asset in its entirety, the difference between the asset’s carrying amount and the sum of the consideration received and receivable and the cumulated gain or loss that had been recognized in other comprehensive income and accumulated in equity is recognized in profit or loss. On derecognition of a financial assets other than in its entirety, the Group allocates the previous carrying amount of the financial asset between the part it continues to recognize under continuing involvement, and the part it no longer recognizes on the basis of the relative fair value of those parts on the date of the transfer. The difference between the carrying amount allocated to the part that is no longer recognized and the sum of the consideration received for the part that is no longer recognized and any cumulative gain or loss allocated to it that had been recognized in other comprehensive income is recognized in profit or loss. A cumulative gain or loss that had been recognized in other comprehensive income is allocated between the part that continues to be recognized and the part that is no longer recognized on the basis of the relative fair value of those parts. The Group derecognizes the financial liability, when Group’s obligations are discharged, canceled or expired. The difference between paid cost and the carrying amount of financial liabilities is recorded in profit or loss. 5) Fair value of financial instruments Financial instruments classified as held-for-trading Fair value is the price that would be received to sell an asset or paid to transfer a liability in and orderly transaction between market participants at the measurement date. Fair values are determined from quoted prices in active markets for identical financial assets or financial liabilities where these are available. The Group characterizes active markets as those in which transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing basis. Where a financial instrument is not in active market characterized by low transaction volumes, price quotations which vary substantially among market participants, or in which minimal information is released publicly, fair values are established using valuation techniques rely on alternative market data or internally developed models using significant inputs that are generally readily observable from objective sources. Market data includes prices of financial instruments with similar maturities and characteristics, duration, interest rate yield curves, and measures of volatility. The amount determined to be fair value may incorporate the management of the Group’s own assumptions (including assumptions that the Group believes market participants would use in valuing the financial instruments and assumptions relating to appropriate risk adjustments for nonperformance and lack of marketability). The valuation techniques used to estimate the fair value of the financial instruments include market approach and income approach, each of which involves a significant degree of judgment. Under the market approach, fair value is determined by reference to a recent transaction involving the financial instruments or by reference to observable valuation measures for comparable companies or assets. Under the income approach, fair value is determined by converting future amounts (e.g., cash flows or earnings) to a single present amount (discounted) using current market expectations about the future amounts. In determining value under this approach, the Group makes assumptions regarding, among other things, revenues, operating income, depreciation and amortization, capital expenditures, income taxes, working capital needs, and terminal value of the financial investments. These valuation techniques involve a degree of estimation, the extent of which depends on the instrument’s complexity and the availability of market-based data. The following are descriptions of valuation methodologies used by the Group to measure various financial instruments at fair value. a) Financial assets at FVTPL and AFS financial assets The fair value of the securities included in financial assets at FVTPL and AFS financial assets are recognized in the consolidated statements of financial position based on quoted market prices, where available. For debt securities traded in the OTC market, the Group generally determines fair value based on prices obtained from independent pricing services. Specifically, with respect to independent pricing services, the Group obtains three prices per instrument from reputable independent pricing services in Korea, and generally uses the lowest of the prices obtained from such services without further adjustment. For non-marketable b) Derivatives Quoted market prices are used for the Group’s exchange-traded derivatives, such as certain interest rate futures and option contracts. All of the Group’s derivatives are traded in OTC markets where quoted market prices are not readily available are valued using internal valuation techniques. Valuation techniques and inputs to internally developed models depend on the type of derivative and nature of the underlying rate, price or index upon which the derivative’s value is based. If the model inputs for certain derivatives are not observable in a liquid market, significant judgments on the level of inputs used for valuation techniques are required. c) Adjustment of valuation amount By using derivatives, the Group is exposed to credit risk if counterparties to the derivative contracts do not perform as expected. If counterparty fails to perform, counterparty credit risk is equal to the amount reported as a derivative asset in the consolidated statements of financial position. The amounts reported as a derivative asset are derivative contracts in a gain position. Few of the Group’s derivatives are listed on an exchange. The majority of derivative positions is valued using internally developed models that use as their basis observable market inputs. Therefore, an adjustment is necessary to reflect the credit quality of each counterparty to arrive at fair value. Counterparty credit risk adjustments are applied to derivative assets, such as OTC derivative instruments, when the market inputs used in valuation models may not be indicative of the creditworthiness of the counterparty. Adjustments are also made when valuing financial liabilities to reflect the Group’s own credit standing. The adjustment is based on probability of default of a counterparty and loss given default. The adjustment also takes into account contractual factors designed to reduce the Group’s credit exposure to each counterparty. To the extent derivative assets (liabilities) are subject to master netting arrangements, the exposure used to calculate the credit risk adjustment is net of derivatives in a loss (gain) position with the same counterparty and cash collateral received (paid). 6) Impairment of financial assets The Group assesses at the end of each reporting date whether there is any objective evidence that a financial asset or group of financial assets classified as AFS, HTM or loans and receivables is impaired. A financial asset or portfolio of financial assets is impaired and an impairment loss incurred if there is objective evidence of impairment as result of one or more events that occurred after the initial recognition asset and that event (o |
Offsetting financial instruments | (10) Offsetting financial instruments Financial assets and liabilities are presented as a net amount in the statements of financial position when the Group has an enforceable legal right and an intention to settle on a net basis or to realize an asset and settle the liability simultaneously. |
Investment properties | (11) Investment properties The Group classifies a property held to earn rentals and/or for capital appreciation as an investment property. Investment properties are measured initially at cost, including transaction costs, less subsequent depreciation and impairment. Subsequent costs are included in the carrying amount of the asset or recognized as a separate asset if it is probable that future economic benefits associated with the assets will flow into the Group and the cost of an asset can be measured reliably, and the book value of a portion of an asset that are replaced by a subsequent expenditure is removed from the books. Routine maintenance and repairs are expensed as incurred. While land is not depreciated, all other investment properties are depreciated based on the depreciation method and useful lives of premises and equipment. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, and when it is deemed appropriate to change them, the effect of any change is accounted for as a change in accounting estimates. An investment property is derecognized from the consolidated financial statements on disposal or when it is permanently withdrawn from use and no future economic benefits are expected even from its disposal. The gain or loss on the derecognition of an investment property is calculated as the difference between the net disposal proceeds and the carrying amount of the property, and is recognized in profit or loss in the period of the derecognition. |
Premises and equipment | (12) Premises and equipment Premises and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. The cost of an item of premises and equipment is expenditures directly attributable to their purchase or construction, which includes any cost directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. It also includes the initial estimate of costs of dismantling and removing the item and restoring the site on which it is located. Subsequent costs are recognized in the carrying amount of an asset or as a separate asset (if appropriate) if it is probable that future economic benefit associated with the assets will flow into the Group and the cost of an asset can be measured reliably. Routine maintenance and repairs are expensed as incurred. While land is not depreciated, for all other premises and equipment, depreciation is charged to net income on a straight-line basis by applying the following estimated economic useful lives on the amount of cost or revalued amount less residual value. Useful life Buildings used for business purpose 35 to 57 years Structures in leased office 4 to 5 years Properties for business purpose 4 to 5 years Leased assets Useful lives of the same kind or similar other premises and equipment The Group reassesses the depreciation method, the estimated useful lives and residual values of premises and equipment at the end of each reporting period. If changes in the estimates are deemed appropriate, the changes are accounted for as a change in an accounting estimate. When there is an indicator of impairment and the carrying amount of a premises and equipment item exceeds the estimated recoverable amount, the carrying amount of such asset is reduced to the recoverable amount. |
Intangible assets and goodwill | (13) Intangible assets and goodwill The Group is recognizing intangible assets measured at the manufacturing cost or acquisition cost plus additional incidental expenses less accumulated amortization and accumulated impairment losses. The Group’s intangible asset are amortized over the following economic lives using the straight-line method. The estimated useful life and amortization method are reviewed at the end of each reporting period. If changes in the estimates are deemed appropriate, the changes are accounted for as a change in an accounting estimate. Useful life Industrial property rights 10 years Development costs 5 years Software, and others 4 to 5 years In addition, when an indicator that intangible assets are impaired is noted, and the carrying amount of the asset exceeds the estimated recoverable amount of the asset, the carrying amount of the asset is reduced to its recoverable amount. Goodwill acquired in a business combination is included in intangible assets. Goodwill is not amortized, but is subject to an impairment test at the cash-generating unit level every year, and whenever there is an indicator that goodwill is impaired. Goodwill is allocated to each of the Group’s cash-generating unit (or groups of cash-generating units) that is expected to benefit from the synergies of the combination. If the recoverable amount of the cash-generating unit is less than its carrying amount, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit on a pro rata basis based on the carrying amount of each asset in the unit. Any impairment loss for goodwill is recognized directly in profit or loss. An impairment loss recognized for goodwill is not reversed in subsequent periods. |
Impairment of non-monetary assets | (14) Impairment of non-monetary Intangible assets with indefinite useful lives or intangible assets that are not yet available for use are tested for impairment annually, regardless of whether or not there is any indication of impairment. All other assets are tested for impairment by estimating the recoverable amount when there is an objective indication that the carrying amount may not be recoverable. Recoverable amount is the higher of value in use or net fair value, less costs to sell. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount and such impairment loss is recognized immediately in net income. |
Leases | (15) Leases Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases. 1) The Group as a lessor The Group recognizes lease receivables at the present value of minimum lease payments of a finance lease and any unguaranteed residual value. After the commencement date of the lease, accounting is done to recognize interest income over each reporting period by computing periodic interest income on the Group’s net investment. Rental income from operating leases is recognized on a straight-line basis over the lease term. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and expensed on a straight-line basis over the lease term. Operating lease assets are included within other asset category in other assets, and depreciated over their economic life. 2) The Group as a lessee Assets held under finance leases are initially recognized as assets of the Group at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the separate statements of financial position as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation to achieve a constant rate of interest on the remaining balance of the liability. Contingent rentals arising under finance leases are recognized as expenses in the periods in which they are incurred. Operating lease payments are recognized as an expense on a straight-line basis over the lease term, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed. Contingent rentals arising under operating leases are recognized as expenses in the period in which they are incurred. |
Derivative instruments | (16) Derivative instruments Derivative instruments are classified as forwards, futures, options and swaps, depending on the types of transactions and are classified at the point of transaction as either trading or hedging based on its purpose. Derivatives are initially recognized at fair value at the date of contract and are subsequently measured at fair value at the end of each reporting period. The resulting gain or loss is recognized in net income immediately unless the derivative is designated and effective as a hedging instrument. If derivatives have been designated as hedging instruments and if it is effective, the point of recognition of gain or loss depends on the characteristics of hedging relationship. 1) Embedded derivatives Embedded derivatives are components of a hybrid financial instrument that includes a non-derivative Embedded derivatives that are part of a hybrid contract of which the host contract is a financial asset within the scope of IFRS 9 is not separated. The classification is done by considering the hybrid contract as a whole, and subsequent measurement is either at amortized cost or fair value. If embedded derivatives are part of a hybrid contract of which the host contract is not a financial asset within the scope of IFRS 9 (e.g. financial liability), then these are treated as separate derivatives if embedded derivatives meet the definition of a derivative, characteristics & risk of the embedded derivatives are not closely related to that of host contract, and if the host contract is not measured at FVTPL. In the previous year, all embedded derivatives which were part of a hybrid contract were treated as separate derivatives if embedded derivatives meet the definition of a derivative, characteristics & risk of the embedded derivatives are not closely related to that of host contract, and if the host contract is not measured at FVTPL. 2) Hedge accounting The Group is applying IFRS 9 in regards to hedge accounting. The Group is designating certain derivatives as hedging instrument against fair value changes in relation to the interest rate risk, foreign currency translation and interest rate risk, and foreign currency translation risk. The Group is documenting the relationship between hedging instruments and hedged items at the commencement of hedging in accordance with their purpose and strategy. Also, the Group documents at the commencement and subsequent dates whether the hedging instrument effectively counters the changes in fair value of hedged items. A hedging instrument is effective only when it meets all the following criteria: • When there is an economic relationship between the hedged items and hedging instruments. • When the effect of credit risk is not stronger than the change in value due to the economic relationship between the hedged items and hedging instruments. • When the hedge ratio is equal to the proportion of hedged items to the hedging instruments. When a hedging relationship no longer meets the hedging effectiveness requirements related to hedge ratio, but when the purpose of risk management on designated hedging relationship is still maintained, the hedge ratio of the hedging relationship is adjusted so that hedging relationship may meet the requirements again (Hedge ratio readjustment). The Group has designated derivatives as hedging instrument except for the portion on foreign currency basis spread. The fair value change due to foreign currency basis spread is recognized in other comprehensive income and is accumulated in equity. If the hedged item is related to transactions, the accumulated other comprehensive income is reclassified to profit or loss when the hedged item affects the profit or loss. However, when non-monetary non-monetary 3) Fair value hedge Gain or loss arising from valid hedging instrument is recognized in profit or loss. However, when the hedging instrument mitigates risks on equity instruments designated as financial assets at FVTOCI, related gain or loss is recognized in other comprehensive income. The book value of hedged items that are not measured in fair value is adjusted by the changes in fair value arising from the hedged risk, with resulting gain or loss reflected in net income. In case of debt instruments measured at FVTOCI, book value is an amount that is already adjusted to fair value and thus gain or loss arising from the hedged risk is recognized in profit or loss instead of other comprehensive income without adjustments in book value. When the hedged item is equity instruments measured at FVTOCI, the gain or loss arising from hedged risk is retained at other comprehensive income in order to match the gain or loss with hedging instruments. Hedge accounting ceases to apply only when hedging relationship (or part of it) does not meet the requirements of hedge accounting (even after hedging relationship readjustment, if applicable). This treatment holds in case of lapse, disposal, expiry and exercise of hedging instruments, and this cease of treatment applies prospectively. The fair value adjustments made to book value of hedged item due to hedged risk is amortized from the date of discontinuance of hedge accounting and is recognized in profit or loss. 4) Cash flow hedge The Group recognizes the effective portion of changes in the fair value of derivatives and other valid hedging instruments that are designated and qualified as cash flow hedges in other comprehensive income, to the extent of cumulative fair value changes of the hedged item from the date of hedge accounting. The gain or loss relating to the ineffective portion is recognized immediately in net income. Amounts previously recognized in other comprehensive income and accumulated in equity are reclassified to net income when the hedged item affects net income. However, when non-monetary non-monetary Hedge accounting ceases to apply only when hedging relationship (or part of it) does not meet the requirements of hedge accounting (even after hedging relationship readjustment, if applicable). This treatment holds in case of lapse, disposal, expiry and exercise of hedging instruments, and this cease of treatment applies prospectively. At the point of cessation of cash flow hedge, the valuation gain or loss recognized as accumulated other comprehensive income continues to be recognized as equity, and is reclassified to profit or loss when the expected transaction is ultimately recognized as profit or loss. However, when transactions are no longer expected to occur, the valuation gain or loss of hedging instrument recognized as accumulated other comprehensive income is immediately reclassified to profit or loss. |
Assets (or Disposal group) held for sale | (17) Assets (or disposal group) held for sale The Group classifies a non-current Non-current |
Provisions | (18) Provisions Provisions are recognized if (a) it has present or contractual obligations as a result of the past event, (b) it is probable that an outflow of resources will be required to settle the obligation and (c) the amount of the obligation is reliably estimated. Provision is not recognized for the future operating losses. The Group recognizes provision related to the unused membership points, payment guarantees, loan commitment and litigations. Where the Group is required to restore a leased property that is used as a branch to an agreed condition after the contractual term expires, the present value of expected amounts to be used to dispose, decommission or repair the facilities is recognized as an asset retirement obligation. Where there are a number of similar obligations, the probability that an outflow will be required in settlement is determined by considering the obligations as a whole. Although the likelihood of outflow for any one item may be small, if it is probable that some outflow of resources will be needed to settle the obligations as a whole, a provision is recognized. |
Capital and compound financial instruments | (19) Capital and compound financial instruments The Group classifies a financial instrument that it issues as a financial liability or an equity instrument in accordance with the substance of the contractual arrangement. A financial liability is a contractual obligation to deliver cash or another financial asset to another entity. An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities. The compound financial instruments are financial instruments where it is neither a financial liability nor an equity instrument because it was designed to contain both equity and debt elements. If the Group reacquires its own equity instruments, the consideration paid including the direct transaction costs (net of tax expense) are presented as a deduction from total equity until such instruments are retired or reissued. When these instruments are reissued, the consideration received (net of direct transaction costs) is included in the shareholder’s equity. |
Financial guarantee contracts | (20) Financial guarantee contracts A financial guarantee contract is a contract where the issuer must pay a certain amount of money in order to compensate losses suffered by the creditor when debtor defaults on a debt instrument in accordance with original or modified contractual terms. A financial guarantee is initially measured at fair value and is subsequently measured at the higher of the amounts below unless it is designated to be measured at FVTPL or when it arises from disposal of an asset. • Loss allowance in accordance with IFRS 9 • Initial book value less accumulated profit measured in accordance with IFRS 15 |
Employee benefits and pensions | (21) Employee benefits and pensions The Group recognizes the undiscounted amount of short-term employee benefits expected to be paid in exchange for the services rendered by the employees. Also, the Group recognizes expenses and liabilities in the case of accumulating compensated absences when the employees render services that entitle their right to future compensated absences. Similarly, the Group recognizes expenses and liabilities for customary profit distribution or bonuses when the employees render services, even though the Group does not have legal obligation to do so because it can be construed as constructive obligation. The Group is operating defined contribution plans and defined benefit plans. Contributions to defined contribution plans are recognized as an expense when employees have rendered services entitling them to receive the benefits. For defined benefit plans, the defined benefit liability is calculated through an actuarial assessment using the projected unit credit method every end of the reporting period, conducted by a professional actuaries. Remeasurement, comprising actuarial gains and losses, the return on plan assets (excluding interest), and the effect of the changes to the asset ceiling (if applicable) is reflected immediately in the separate statement of financial position with a charge or credit recognized in other comprehensive income in the period in which they occur. Remeasurement recognized in the consolidated statement of comprehensive income is not reclassified to profit or loss in the subsequent periods. Past service cost is recognized in profit or loss in the period of a plan amendment. Net interest is calculated by applying the discount rate at the beginning of the period to the net defined benefit liability or asset. Defined benefit costs are composed of service cost (including current service cost and past service cost, as well as gains and losses on curtailments and settlements), net interest expense (income) and remeasurement. The Group presents the service cost and net interest expense (income) components in profit or loss, and the remeasurement component in other comprehensive income. Curtailment gains and losses are accounted for as past service costs. The retirement benefit obligation recognized in the consolidated statement of financial position represents the actual deficit or surplus in the Group’s defined benefit plans. Any surplus resulting from this calculation is recognized as an asset limited to the present value of any economic benefits available in the form of refunds from the plans or reductions in future contributions to the plans. Liabilities for termination benefits are recognized at the earlier of either 1) the date when the Group is no longer able to cancel its proposal for termination benefits or 2) the date when the Group has recognized the cost of restructuring that accompanies the payment of termination benefits. |
Income taxes | (22) Income taxes Income tax expense is composed of current tax and deferred tax. That is, income tax expense is composed of taxes payable or refundable during the period and deferred taxes calculated by applying asset-liability method to taxable and deductible temporary differences arising from operating loss and tax credit carry forwards. Temporary differences are the differences between the carrying values of assets and liabilities for financial reporting purposes and their tax bases. Deferred income tax benefit or expense is recognized for the change in deferred tax assets or liabilities. Deferred tax assets and liabilities are measured as of the reporting date using the enacted or substantively enacted tax rates expected to apply in the period in which the liability is settled or asset realized. Deferred tax assets, including the carry forwards of unused tax losses, are recognized to the extent it is probable that the deferred tax assets will be realized. Deferred income tax assets and liabilities are offset if, and only if, the Group has a legally enforceable right to offset current tax assets against current tax liabilities, and the deferred tax assets and liabilities relate to income taxes levied by the same taxation authority or when the entity intends to settle current tax liabilities and assets on a net basis with different taxable entities. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred liabilities are not recognized if the temporary difference arises from the initial recognition of goodwill. Deferred tax assets or liabilities are not recognized if they arise from the initial recognition (other than in a business combination) of other assets and liabilities in a transaction that affects neither the taxable profit nor the accounting profit. Current and deferred taxes are recognized in profit or loss, except when they relate to items that are recognized in other comprehensive income or directly in equity or when it arises from business combination. |
Earnings per share ("EPS") | (23) Earnings per share (“EPS”) Basic EPS is a calculation of net income per each common stock. It is calculated by dividing net income attributable to ordinary shareholders by the weighted-average number of common shares outstanding. Diluted EPS is calculated by adjusting the earnings and number of shares for the effects of all dilutive potential common shares. |
Significant accounting estima_2
Significant accounting estimates and assumptions (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of accounting judgements and estimates explanatory [Abstract] | |
Accounting policy for income tax | (1) Income taxes The Group has recognized current and deferred taxes based on best estimates of expected future income tax effect arising from the Group’s operations until the end of the current reporting period. However, actual tax payment may not be identical to the related assets and/or liabilities already recognized, and these differences may affect current taxes and deferred tax assets/liabilities at the time when income tax effects are finalized. Deferred tax assets relating to tax losses carried forward and deductible temporary differences are recognized only to the extent that it is probable that future taxable profit will be available against which the tax losses carried forward and the deductible temporary differences can be utilized. In this case the Group’s evaluation considers various factors such as estimated future taxable profit based on forecasted operating results, which are based on historical financial performance. The Group is reviewing the book value of deferred tax assets every end of the reporting period and in the event that the possibility of earning future taxable income changes, the deferred tax assets are adjusted up to taxable income sufficient to use deductible temporary differences. |
Valuation of financial instruments | (2) Valuation of Financial Instruments Financial assets at FVTPL and FVTOCI are recognized in the consolidated financial statements at fair value. All derivatives are measured at fair value. Valuation techniques are required in order to determine fair values of financial instruments where observable market prices do not exist. Financial instruments that are not actively traded and have low price transparency will have less objective fair value and require broad judgment in liquidity, concentration, uncertainty in market factors and assumption in price determination and other risks. As described in Note 2-(9)-5), |
Impairment of financial instruments | (3) Impairment of financial instruments IFRS 9 requires entities to measure loss allowance equal to 12-month Stage 1 Stage 2 Stage 3 Credit risk has not significantly increased (*) Credit risk has Credit has been impaired Allowance for expected credit losses Expected 12-month Expected credit losses due to possible defaults on financial instruments within a 12-month year-end. Expected lifetime credit losses: Expected credit losses from all possible defaults during the expected lifetime of the financial instruments. (*) Credit risk may be considered to not have been significantly increased when credit risk is low at year-end. The Group has estimated the allowance for credit losses based on reasonable and supportable information that was available without undue cost or effort at the reporting date about past events, current conditions and forecasts of future economic conditions. Probability of default (PD) and Loss given default (LGD) for each category of financial asset is being calculated by considering factors such as debtor type, credit rating and portfolio. The estimates are regularly being reviewed in order to reduce discrepancies with actual losses. Also, in measuring the expected credit losses, the Group is using reasonable and supportable macroeconomic indicators such as economic growth rates, interest rates, market index rates, etc., in order to forecast future economic conditions. The Group is conducting the following procedures to estimate and apply future economic forecast information. • Development of prediction models by analyzing the correlation between default rates of corporate and retail exposures per year and macroeconomic indicators • Calculation of predicted default rate incorporating future economic forecasts by applying estimated macroeconomic indicators provided by verified institutions such as Bank of Korea and National Assembly Budget Office to the prediction model developed. At the end of every reporting period, the Group evaluates whether credit risk reflected forward-looking information has significantly been increased since the date of initial recognition. When evaluating whether credit risk has significantly been increased, the changes in the probability of default over the financial instrument’s remaining life is used instead of changes in the amount of expected credit losses. The Group performs the above evaluation with distinctions made to corporate and retail exposures, and indicators of significant increase in credit risk are as follows: Corporate Exposures Retail Exposures Asset quality level ‘Precautionary’ or lower Asset quality level ‘Precautionary’ or lower More than 30 days past due More than 30 days past due ‘Warning’ level in early warning system Significant decrease in credit rating (*) Debtor experiencing financial difficulties Significant decrease in credit rating (*) (*) Determining whether there has been a significant decrease in the credit rating of corporate and retail exposures applies only to credit ratings that are measured through 12-month Credit rating Significant increased indicator of the Corporate AAA ~ A+ More than 4 steps A- More than 3 steps BBB- More than 2 steps BB ~ BB- More than 1 step Retail 1 ~ 3 More than 3 steps 4 ~ 5 More than 2 steps 6 ~ 10 More than 1 step The Group sees no significant increase in credit risk after initial recognition for debt securities, etc. with a credit rating of A+ or higher, which are deemed to have low credit risk at the end of the reporting period. The Group concludes that credit is impaired when financial assets are under conditions stated below: • When principal of loan is overdue for 90 days or longer due to significant deterioration in credit • For loans overdue for less than 90 days, when it is determined that not even a portion of the loan will be recovered unless claim actions such as disposal of collaterals are taken • When other objective indicators of impairment has been noted for the financial asset The Group determines which loan is subject to write-off write-off, |
Accounting policy for defined benefit plan | (4) Defined benefit plan The Group operates a defined benefit pension plan. Defined benefit obligation is calculated at every end of the reporting period by performing actuarial valuation, and estimation of assumptions such as discount rate, expected wage growth rate and mortality rate is required to perform such actuarial valuation. The defined benefit plan, due to its long-term nature, contains significant uncertainties in its estimates. |
General (Tables)
General (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Disclosure of investments in subsidiaries | (2) The consolidated financial statements for Woori Financial Group Inc. and its subsidiaries (the “Group”) include the following subsidiaries: Percentage of ownership (%) Location Financial as of (2018) Subsidiaries Main business December 31, December 31, Woori Bank: Woori FIS Co., Ltd. System software 100.0 100.0 Korea December 31 Woori Private Equity Asset Management Co., Ltd. Finance 100.0 100.0 Korea December 31 Woori Finance Research Institute Co., Ltd. Other service business 100.0 100.0 Korea December 31 Woori Card Co., Ltd. Finance 100.0 100.0 Korea December 31 Woori Investment Bank Co., Ltd. Other credit finance 59.8 59.8 Korea December 31 Woori Credit Information Co., Ltd. Credit information 100.0 100.0 Korea December 31 Woori America Bank Finance 100.0 100.0 U.S.A. December 31 Woori Global Markets Asia Limited ” 100.0 100.0 Hong Kong December 31 Woori Bank China Limited ” 100.0 100.0 China December 31 AO Woori Bank ” 100.0 100.0 Russia December 31 PT Bank Woori Saudara Indonesia 1906 Tbk ” 79.9 79.9 Indonesia December 31 Banco Woori Bank do Brasil S.A. ” 100.0 100.0 Brazil December 31 Korea BTL Infrastructure Fund ” 99.9 99.9 Korea December 31 Woori Fund Service Co., Ltd. ” 100.0 100.0 Korea December 31 Woori Finance Cambodia PLC. ” 100.0 100.0 Cambodia December 31 Woori Finance Myanmar Co., Ltd. ” 100.0 100.0 Myanmar December 31 Wealth Development Bank ” 51.0 51.0 Philippines December 31 Woori Bank Vietnam Limited ” 100.0 100.0 Vietnam December 31 WB Finance Co., Ltd. (*5) ” — 100.0 Cambodia December 31 Woori Bank Europe (*5) ” — 100.0 Germany December 31 Kumho Trust First Co., Ltd. (*1) Asset securitization 0.0 0.0 Korea December 31 Asiana Saigon Inc. (*1) ” 0.0 0.0 Korea December 31 Consus Eighth Co., LLC (*4) ” 0.0 — Korea — KAMCO Value Recreation First Securitization Specialty Co., Ltd. (*1) ” 15.0 15.0 Korea December 31 Hermes STX Co., Ltd. (*1) ” 0.0 0.0 Korea December 31 BWL First Co., LLC (*1) ” 0.0 0.0 Korea December 31 Deogi Dream Fourth Co., Ltd. (*1) ” 0.0 0.0 Korea December 31 Jeonju Iwon Ltd. (*1) ” 0.0 0.0 Korea December 31 Wonju I one Inc. (*1) ” 0.0 0.0 Korea December 31 Heitz Third Co., Ltd. (*1) ” 0.0 0.0 Korea December 31 Woorihansoop 1st Co., Ltd. (*1) ” 0.0 0.0 Korea December 31 Electric Cable First Co., Ltd. (*1) ” 0.0 0.0 Korea December 31 Woori International First Co., Ltd. (*1) ” 0.0 0.0 Korea December 31 Woori HJ First Co., Ltd. (*4) ” 0.0 — Korea — Woori WEBST 1st Co., Ltd. (*1) ” 0.0 0.0 Korea December 31 Wibihansoop 1st Co., Ltd. (*1) ” 0.0 0.0 Korea December 31 HNLD 1st Inc. (*4) ” 0.0 — Korea — Uri QS 1st Co., Ltd. (*1) ” 0.0 0.0 Korea December 31 Uri Display 1st Co., Ltd. (*1) ” 0.0 0.0 Korea December 31 Tiger Eyes 2nd Co., Ltd. (*1) ” 0.0 0.0 Korea December 31 Woori Serveone 1st Co., Ltd. (*1) ” 0.0 0.0 Korea December 31 Uri Display 2nd Co.,Ltd. (*1) ” — 0.0 Korea December 31 Woori the Colony Unjung Securitization Specialty Co., Ltd. (*1) ” — 0.0 Korea December 31 Woori Dream 1st Co., Ltd. (*1) ” — 0.0 Korea December 31 Woori Dream 2nd Co., Ltd. (*1) ” — 0.0 Korea December 31 Woori H 1st Co., Ltd. (*1) ” — 0.0 Korea December 31 Woori HS 1st Co., Ltd. (*1) ” — 0.0 Korea December 31 Woori HS 2nd Co., Ltd. (*1) ” — 0.0 Korea December 31 Woori Sinnonhyeon 1st Inc. (*1) ” — 0.0 Korea December 31 Woori K 1st Co.,Ltd. (*1) ” — 0.0 Korea December 31 Uri S 1st Co.,Ltd. ( 1) ” — 0.0 Korea December 31 Smart Casting Inc. ( 1) ” — 0.0 Korea December 31 G5 Pro Short-term Bond Investment Fund 13 ( 2) Securities investment and 100.0 100.0 Korea December 31 Heungkuk Global Private Placement Investment Trust No. 1 ( 2) ” — 98.5 Korea December 31 HeungkukWoori Tech Company Private Placement Investment Trust No. 1 ( 2) ” 98.0 98.0 Korea December 31 AI Partners Water Supply Private Placement Investment Trust No.2 ( 2) ” — 97.3 England December 31 Consus Sakhalin Real Estate Investment Trust 1st ( 2) ” 75.0 75.0 Korea December 31 Principle Guaranteed Trust ( 3) Trust 0.0 0.0 Korea December 31 Principle and Interest Guaranteed Trust ( 3) ” 0.0 0.0 Korea December 31 Woori Investment Bank: Dongwoo First Securitization Specialty Co., Ltd. ( 1) Asset securitization 5.0 5.0 Korea December 31 Seari First Securitization Specialty Co., Ltd. ( 1) ” 5.0 5.0 Korea December 31 Seari Second Securitization Specialty Co., Ltd. ( 1) ” — 5.0 Korea December 31 Namjong 1st Securitization Specialty Co., Ltd. ( 1) ” 5.0 5.0 Korea December 31 Bukgeum First Securitization Specialty Co., Ltd. ( 1) ” 5.0 5.0 Korea December 31 Bukgeum Second Securitization Specialty Co., Ltd. ( 1) ” — 5.0 Korea December 31 Woori Card Co., Ltd.: TUTU Finance-WCI Finance 100.0 100.0 Myanmar December 31 Woori Card one of 2017-1 ( 1) Asset securitization 0.5 0.5 Korea December 31 Woori Card one of 2017-2 ( 1) ” 0.5 0.5 Korea December 31 Woori Card one of 2018-1 ( 1) ” — 0.5 Korea December 31 (*1) The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. (*2) The entity is a structured entity for the purpose of investment in securities and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. (*3) The entity is a ‘money trust’ under the Financial Investment Services and Capital Markets Act and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. (*4) The entity was removed from the list of subsidiaries as the control over the entity was lost during the current period. (*5) The entity was included in the list of subsidiaries as the Bank acquired more than 50% of the ownership interest. |
Unconsolidated companies with more than 50 Percent ownership interests | (3) The Group has not consolidated the following entities as of December 31, 2017 and 2018 despite having more than 50% ownership interest: As of December 31, 2017 Subsidiaries Location Main Business Percentage of Golden Bridge NHN Online Private Equity Investment (*) Korea Securities Investment 60.0 Mirae Asset Maps Clean Water Private Equity Investment Trust 7th (*) Korea Securities Investment 59.7 Kiwoom Yonsei Private Equity Investment Trust (*) Korea Securities Investment 88.9 Hana Walmart Real Estate Investment Trust 41-1 (*) Korea Securities Investment 90.1 IGIS Global Private Placement Real Estate Fund No. 148-1 (*) Korea Securities Investment 75.0 IGIS Global Private Placement Real Estate Fund No. 148-2 (*) Korea Securities Investment 75.0 As of December 31, 2018 Subsidiaries Location Main Business Percentage of Golden Bridge NHN Online Private Equity Investment (*) Korea Securities Investment 60.0 Mirae Asset Seobu Underground Expressway Professional Investment (*) Korea Securities Investment 65.8 Mirae Asset Maps Clean Water Private Equity Investment Trust 7th (*) Korea Securities Investment 59.7 Kiwoom Yonsei Private Equity Investment Trust (*) Korea Securities Investment 88.9 Hana Walmart Real Estate Investment Trust 41-1 (*) Korea Securities Investment 89.6 IGIS Europe Private Placement Real Estate Fund No. 163-2 (*) Korea Securities Investment 97.9 IGIS Global Private Placement Real Estate Fund No. 148-1 (*) Korea Securities Investment 75.0 IGIS Global Private Placement Real Estate Fund No. 148-2 (*) Korea Securities Investment 75.0 KB Nongso Sewage Treatment Equipment Private Special Asset (*) Korea Securities Investment 50.0 Mirae Asset Seoul Ring Expressway Private Special Asset Fund No. 1 (*) Korea Securities Investment 66.2 Hangkang Sewage Treatment Plant Fund (*) Korea Securities Investment 55.6 Consus KyungJu Green Private Placement Real Estate Fund No. 1 (*) Korea Securities Investment 52.4 (*) Since the investee is a private equity investment fund, the Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. |
Summarized financial information before elimination of intercompany transactions of the subsidiaries | (4) The summarized financial information of the major subsidiaries are as follows. The financial information of each subsidiary was prepared on the basis of consolidated financial statements. (Unit: Korean Won in millions): As of and for the year ended December 31, 2017 Assets Liabilities Operating revenue Net income (loss) Comprehensive Woori FIS Co., Ltd. 103,932 71,386 252,460 1,940 (2,963 ) Woori Private Equity Asset Management Co., Ltd. 42,894 2,670 7,257 (4,114 ) (4,074 ) Woori Finance Research Institute Co., Ltd. 3,790 350 4,733 83 64 Woori Card Co., Ltd. 8,605,993 6,973,705 1,771,157 101,214 107,321 Woori Investment Bank Co., Ltd. 1,880,157 1,588,610 183,376 20,023 20,210 Woori Credit Information Co., Ltd. 33,298 6,175 31,580 861 752 Woori America Bank 1,954,301 1,679,248 81,337 11,869 (16,833 ) Woori Global Markets Asia Limited 290,226 178,343 11,345 1,922 (12,544 ) Woori Bank China Limited 4,960,637 4,458,683 388,913 13,809 (15,252 ) AO Woori Bank 201,704 149,101 15,656 4,748 1,217 PT Bank Woori Saudara Indonesia 1906 Tbk 2,230,617 1,745,171 192,485 38,488 (18,689 ) Banco Woori Bank do Brasil S.A. 213,889 181,544 20,455 1,843 (2,840 ) Korea BTL Infrastructure Fund 786,480 301 30,240 26,390 26,390 Woori Fund Service Co., Ltd. 12,653 1,242 9,021 1,398 1,398 Woori Finance Cambodia PLC. 51,304 32,873 5,895 983 (473 ) Woori Finance Myanmar Co., Ltd. 18,236 5,307 2,506 791 15 Wealth Development Bank 191,049 156,808 13,632 1,323 (1,093 ) Woori Bank Vietnam Limited 775,758 632,160 29,698 2,436 (15,347 ) Money trust under the FISCM Act 1,560,672 1,530,760 44,344 582 582 Structured entity for the securitization of financial assets 867,583 1,275,719 22,730 1,179 (2,800 ) Structured entity for the investments in securities 34,939 76 377 (475 ) (38,592 ) As of and for the year ended December 31, 2018 Assets Liabilities Operating revenue Net income (loss) Comprehensive Woori FIS Co., Ltd. 96,260 63,412 271,651 2,840 269 Woori Private Equity Asset Management Co., Ltd. 38,820 1,439 1,713 (2,794 ) (2,843 ) Woori Finance Research Institute Co., Ltd. 3,891 560 4,708 7 (109 ) Woori Card Co., Ltd. 9,987,057 8,305,093 1,371,301 114,767 106,517 Woori Investment Bank Co., Ltd. 2,682,660 2,367,418 205,446 25,552 25,533 Woori Credit Information Co., Ltd. 34,921 6,386 36,883 1,657 1,411 Woori America Bank 2,182,454 1,878,117 90,975 20,510 32,335 Woori Global Markets Asia Limited 517,627 396,216 18,748 5,144 9,647 Woori Bank China Limited 5,470,927 4,953,813 366,973 21,879 19,194 AO Woori Bank 305,521 256,260 19,433 5,163 (3,234 ) PT Bank Woori Saudara Indonesia 1906 Tbk 2,355,975 1,853,768 192,719 40,385 27,109 Banco Woori Bank do Brasil S.A. 179,130 149,146 13,971 1,262 (2,326 ) Korea BTL Infrastructure Fund 777,437 299 29,760 26,057 26,057 Woori Fund Service Co., Ltd. 14,448 1,440 10,052 1,597 1,597 Woori Finance Cambodia PLC. 93,239 71,133 11,038 2,826 3,676 Woori Finance Myanmar Co., Ltd. 19,340 6,886 4,496 640 (1,256 ) Wealth Development Bank 218,134 184,344 13,668 80 (451 ) Woori Bank Vietnam Limited 954,580 720,554 48,716 10,710 13,618 WB Finance Co., Ltd. 268,794 225,655 24,310 2,421 2,329 Woori Bank Europe 58,399 311 5 (5,959 ) (5,974 ) Money trust under the FISCM Act 1,582,765 1,552,594 54,860 259 259 Structured entity for the securitization of financial assets 1,369,745 1,786,869 53,578 4,990 (5,681 ) Structured entity for the investments in securities 63,676 142 1,826 (1,299 ) (3,009 ) |
Total assets of the unconsolidated structured entities the carrying value of the related items recorded the maximum exposure to risks and the loss recognized | Total assets of the unconsolidated structured entities, the carrying value of the related items recorded, the maximum exposure to risks, and the loss recognized in conjunction with the unconsolidated structured entities as of December 31, 2017 and 2018 are as follows (Unit: Korean Won in millions): December 31, 2017 Asset Structured Investment Funds Total asset of the unconsolidated structured entities 7,295,601 40,172,830 13,641,135 Assets recognized in the consolidated financial statements related to the unconsolidated structured entities 3,215,159 2,314,043 1,138,523 Financial assets held for trading — 233,428 10,160 AFS financial assets 902,390 106,819 904,774 HTM financial assets 2,269,451 — — Loans and receivables 43,180 1,969,760 — Investments in joint ventures and associates — — 223,589 Derivative assets 138 4,036 — Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities 1,433 1,506 — Derivative liabilities 575 968 — Other liabilities (including provisions) 858 538 — The maximum exposure to risks 4,032,531 2,918,448 1,138,523 Investments 3,215,159 2,314,043 1,138,523 Credit facilities 817,372 604,405 — Loss recognized on unconsolidated structured entities 837 3,939 5,993 December 31, 2018 Asset Structured Investment Funds Total asset of the unconsolidated structured entities 6,796,235 58,161,494 11,138,822 Assets recognized in the consolidated financial statements related to the unconsolidated structured entities 2,571,835 2,831,842 1,530,767 Financial assets at FVTPL 285,156 70,219 1,197,844 Financial assets at FVTOCI 281,919 48,961 — Financial assets at amortized cost 2,003,921 2,511,055 71,150 Investments in joint ventures and associates — 197,393 261,773 Derivative assets 839 4,214 — Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities 1,260 905 — Derivative liabilities 116 248 — Other liabilities (including provisions) 1,144 657 — The maximum exposure to risks 3,252,329 3,408,271 1,587,325 Investments 2,571,835 2,831,842 1,530,767 Credit facilities 680,494 576,429 56,558 Loss recognized on unconsolidated structured entities 5,764 11,609 13,868 |
Accumulated non-controlling interests | (7) The share of non-controlling non-controlling 1) Accumulated non-controlling December 31, 2017 December 31, 2018 Woori Investment Bank 119,111 130,088 PT Bank Woori Saudara Indonesia 1906 Tbk 64,877 68,250 Wealth Development Bank 16,778 16,557 2) Net income or loss attributable to non-controlling For the year ended December 31 2016 2017 2018 Woori Investment Bank 9,990 8,370 10,262 PT Bank Woori Saudara Indonesia 1906 Tbk 6,383 8,882 8,126 Wealth Development Bank 611 648 39 3) Dividends to non-controlling For the year ended December 31 2016 2017 2018 PT Bank Woori Saudara Indonesia 1906 Tbk 1,242 1,513 2,082 |
Basis of preparation and sign_3
Basis of preparation and significant accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting policies [Abstract] | |
Classification and measurement of financial assets and liabilities in accordance with IFRS 9 and IAS 39 | The classification and measurement of financial assets and liabilities in accordance with IFRS 9 and IAS 39 as of January 1, 2018 are as follows (Unit: Korean Won in millions): Classification in IAS 39 Classification in IFRS 9 Amount in IAS 39 Reclassification Remeasurement (*2) Amount in Deposit Loans and receivables Loan and other financial assets at amortized cost 8,870,835 — — 8,870,835 Deposit Financial assets at FVTPL Financial assets at FVTPL 25,972 — — 25,972 Debt securities Financial assets at FVTPL Financial assets at FVTPL (*1) 2,654,027 — — 2,654,027 Equity securities Financial assets at FVTPL Financial assets at FVTPL (*1) 47,304 — — 47,304 Derivative assets Financial assets at FVTPL Financial assets at FVTPL (*1) 3,115,775 (2,137 ) — 3,113,638 Equity securities AFS financial assets Financial assets at FVTPL (*1) 1,273,498 1,219 — 1,274,717 Equity securities AFS financial assets Financial assets at FVTOCI 850,207 — — 850,207 Debt securities AFS financial assets Financial assets at FVTPL 46,855 — — 46,855 Debt securities AFS financial assets Financial assets at FVTOCI 12,874,209 — — 12,874,209 Debt securities AFS financial assets Securities at amortized cost 308,181 — 14,119 322,300 Debt securities HTM financial assets Securities at amortized cost 16,749,296 — — 16,749,296 Loans Loans and receivables Financial assets at FVTPL (*1) 279,032 918 50 280,000 Loans Loans and receivables Loan and other financial assets at amortized cost 253,014,491 — — 253,014,491 Derivative assets (Designated for hedging) Derivative assets (Designated for hedging) Derivative assets (Designated for hedging) 59,272 — — 59,272 Other financial assets Loans and receivables Loan and other financial assets at amortized cost 6,772,088 — — 6,772,088 Total financial assets 306,941,042 — 14,169 306,955,211 Deposit due to customers Financial liabilities at FVTPL Financial liabilities at FVTPL 25,964 — — 25,964 Deposit due to customers Financial liabilities at amortized cost Financial liabilities at amortized cost 234,695,084 — — 234,695,084 Borrowings Financial liabilities at amortized cost Financial liabilities at amortized cost 14,784,706 — — 14,784,706 Debentures Financial liabilities at FVTPL Financial liabilities at FVTPL 91,739 — — 91,739 Debentures Financial liabilities at amortized cost Financial liabilities at amortized cost 27,869,651 — — 27,869,651 Equity-linked securities Financial liabilities at FVTPL Financial liabilities at FVTPL 160,057 — — 160,057 Derivatives liabilities Financial liabilities at FVTPL Financial liabilities at FVTPL 3,150,149 — — 3,150,149 Derivatives liabilities (Designated for hedging) Derivatives liabilities (Designated for hedging) Derivatives liabilities (Designated for hedging) 67,754 — — 67,754 Other financial liabilities Financial liabilities at amortized cost Financial liabilities at amortized cost 13,892,461 — — 13,892,461 Provision for financial guarantee Provision Financial liabilities at amortized cost 71,697 — — 71,697 Total financial liabilities 294,809,262 — — 294,809,262 (*1) Under IAS 39, the embedded derivatives out of hybrid financial instruments were accounted for as derivative assets or liabilities if the criteria for separation of the embedded derivatives were met; and the host contracts in those instruments were recorded as available-for-sale (*2) The remeasurement effect due to expected credit losses is not included (The remeasurement effect of expected credit losses is as follows: b) Impairment of financial assets). |
Fair value and the related valuation gain or loss of the financial assets reclassified to amortized cost measurement categry at the initial application of IFRS 9 | The financial assets at FVTPL or FVTOCI that are reclassified to the amortized cost measurement category as of the date of initial application of IFRS 9, and the related valuation gain or loss and fair value of the financial assets as of December 31, 2018 had it not been reclassified, are as follows (Unit: Korean Won in millions): Account subject Category before the adoption of Amount of valuation gain/loss Fair value Debt securities (*) AFS financial assets 2 257,665 (*) Those financial assets that are removed from the books as of December 31, 2018 are not presented in the table above. |
Impairment of financial assets | Management assessed the impairment of the Group’s financial assets, lending arrangements and financial guarantees at the date of initial application by using reasonable and supportive measures that can be used without undue cost or effort in determining the credit risk of the financial instruments at initial recognition in accordance with IFRS 9 and in comparing above credit risk with the credit risk at the date of initial application. As of January 1, 2018, the results of the assessment are as follows (Unit: Korean Won in millions): Classification in IAS 39 Classification in Loss allowance Loss allowance Increases (B-A) Deposit Loans and receivables Loans and other financial assets at amortized cost 2,458 3,092 634 Debt securities AFS securities AFS financial assets Financial assets at FVTOCI — 4,236 4,236 HTM securities HTM financial assets Securities at amortized cost — 5,078 5,078 Loans and other financial assets Loans and receivables Loans and other financial assets at amortized cost 1,827,785 2,076,873 249,088 Payment guarantee 183,247 192,924 9,677 Loan commitment 66,115 104,985 38,870 Total 2,079,605 2,387,188 307,583 |
Impact on accumulated other comprehensive loss out of equity as a result of adoption of IFRS 9 | Effect on equity as a result of adoption of IFRS 9 The effect on equity due to the adoption of IFRS 9 as of January 1, 2018 is as follows (Unit: Korean Won in millions): • Impact on accumulated other comprehensive loss due to financial assets at FVTOCI, etc. Amount Balance as of December 31, 2017 (prior to IFRS 9) (89,723 ) Adjustments (392,177 ) Reclassification of available-for-sale (152,124 ) Recognition of expected credit losses of debt securities at FVTOCI 4,293 Reclassification of available for sale financial assets(equity securities) to financial assets at FVTOCI (397,508 ) Effect on changes in credit risk of financial liabilities at fair value through profit or loss designated as upon initial recognition (133 ) Others 3,499 Income tax effect 149,796 Balance as of January 1, 2018 (based on IFRS 9) (481,900 ) |
Impact on retained earnings out of equity as a result of adoption of IFRS 9 | Retained earnings impact Amount Balance as of December 31, 2017 (prior to IFRS 9) 15,620,006 Adjustments 177,091 Reclassification of available-for-sale 152,124 Recognition of expected credit losses of debt instruments at FVTOCI (4,293 ) Reclassification of available-for-sale 397,508 Effect on revaluation of financial assets at amortized cost from loan and receivables or AFS financial assets 282 Recognition of expected credit losses of financial assets at amortized cost which were previously loan and receivables (240,683 ) Effect on provision for guarantees and unused loan commitments on liabilities (48,548 ) Effect on changes in credit risk of financial liabilities at fair value through profit or loss designated as upon initial recognition 133 Others (4,950 ) Income tax effect (74,482 ) Balance as of January 1, 2018 (based on IFRS 9) 15,797,097 |
Estimated economic useful lives for premises and equipment except for land | While land is not depreciated, for all other premises and equipment, depreciation is charged to net income on a straight-line basis by applying the following estimated economic useful lives on the amount of cost or revalued amount less residual value. Useful life Buildings used for business purpose 35 to 57 years Structures in leased office 4 to 5 years Properties for business purpose 4 to 5 years Leased assets Useful lives of the same kind or similar other premises and equipment |
Estimated useful life for intangible assets | The Group is recognizing intangible assets measured at the manufacturing cost or acquisition cost plus additional incidental expenses less accumulated amortization and accumulated impairment losses. The Group’s intangible asset are amortized over the following economic lives using the straight-line method. The estimated useful life and amortization method are reviewed at the end of each reporting period. If changes in the estimates are deemed appropriate, the changes are accounted for as a change in an accounting estimate. Useful life Industrial property rights 10 years Development costs 5 years Software, and others 4 to 5 years |
Significant Accounting Estima_3
Significant Accounting Estimates and Assumptions (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of changes in accounting estimates [Abstract] | |
Three stages of credit risk deterioration since initial recognition | IFRS 9 requires entities to measure loss allowance equal to 12-month Stage 1 Stage 2 Stage 3 Credit risk has not significantly increased (*) Credit risk has Credit has been impaired Allowance for expected credit losses Expected 12-month Expected credit losses due to possible defaults on financial instruments within a 12-month year-end. Expected lifetime credit losses: Expected credit losses from all possible defaults during the expected lifetime of the financial instruments. (*) Credit risk may be considered to not have been significantly increased when credit risk is low at year-end. |
Determining significant increase in credit risk, and the applied methodology | At the end of every reporting period, the Group evaluates whether credit risk reflected forward-looking information has significantly been increased since the date of initial recognition. When evaluating whether credit risk has significantly been increased, the changes in the probability of default over the financial instrument’s remaining life is used instead of changes in the amount of expected credit losses. The Group performs the above evaluation with distinctions made to corporate and retail exposures, and indicators of significant increase in credit risk are as follows: Corporate Exposures Retail Exposures Asset quality level ‘Precautionary’ or lower Asset quality level ‘Precautionary’ or lower More than 30 days past due More than 30 days past due ‘Warning’ level in early warning system Significant decrease in credit rating (*) Debtor experiencing financial difficulties Significant decrease in credit rating (*) (*) Determining whether there has been a significant decrease in the credit rating of corporate and retail exposures applies only to credit ratings that are measured through 12-month |
Indicators of credit rating with significant increase in credit risk after initial recognition | Credit rating Significant increased indicator of the Corporate AAA ~ A+ More than 4 steps A- More than 3 steps BBB- More than 2 steps BB ~ BB- More than 1 step Retail 1 ~ 3 More than 3 steps 4 ~ 5 More than 2 steps 6 ~ 10 More than 1 step |
Risk Management (Tables)
Risk Management (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of risk management [Abstract] | |
Maximum exposure to credit risk by customer | The maximum exposure to credit risk is as follows (Unit: Korean Won in millions): December 31, December 31, Loans and other financial assets at amortized cost Korean treasury and government agencies — 13,547,154 Banks — 22,283,842 Corporates — 96,627,671 Consumers — 149,998,911 Sub-total — 282,457,578 Loans and receivables Korean treasury and government agencies 8,823,584 — Banks 26,845,309 — Corporates 90,570,551 — Consumers 140,866,760 — Sub-total 267,106,204 — Financial assets at FVTPL (IFRS 9) Deposit — 26,935 Debt securities — 1,824,155 Loans — 385,450 Derivative assets — 2,026,079 Sub-total — 4,262,619 Financial assets at FVTPL (IAS 39) Deposit 25,972 — Debt securities 2,644,333 — Financial assets designated as at FVTPL 9,694 — Derivative assets 3,115,775 — Sub-total 5,795,774 — Financial assets at FVTOCI Debt securities — 17,112,249 AFS financial assets Debt securities 13,229,244 — Securities at amortized cost Debt securities — 22,932,559 HTM financial assets Debt securities 16,749,296 — Derivative assets Derivative assets (Designated for hedging) 59,272 35,503 Off-balance Guarantees 12,859,715 12,666,417 Unused loan commitments 80,760,325 97,796,704 Sub-total 93,620,040 110,463,121 Total 396,559,830 437,263,629 |
Credit risk exposure by geographical areas | The following tables analyze credit risk exposure by geographical areas (Unit: Korean Won in millions): December 31, 2017 Korea China USA UK Japan Others (*) Total Loans and receivables 250,678,479 4,104,912 2,823,247 1,094,988 381,890 8,022,688 267,106,204 Financial assets at FVTPL 5,551,870 2,937 — 148,955 — 92,012 5,795,774 AFS debt securities 12,407,602 52,259 151,131 — — 618,252 13,229,244 HTM securities 16,606,692 — 63,732 — — 78,872 16,749,296 Derivative assets (Designated for hedging) 16,590 — — 42,682 — — 59,272 Off-balance 91,603,852 529,193 172,570 66,974 25,039 1,222,412 93,620,040 Total 376,865,085 4,689,301 3,210,680 1,353,599 406,929 10,034,236 396,559,830 December 31, 2018 Korea China USA UK Japan Others (*) Total Loans and other financial assets at amortized cost 261,547,407 4,592,153 4,597,119 1,526,532 893,354 9,301,013 282,457,578 Securities at amortized cost 22,757,048 — 70,578 — — 104,933 22,932,559 Financial assets at FVTPL 4,261,110 1,243 — — 266 — 4,262,619 Financial assets at FVTOCI 15,697,518 261,085 103,755 24,960 2,247 1,022,684 17,112,249 Derivative assets (Designated for hedging) 35,503 — — — — — 35,503 Off-balance 107,632,858 801,978 343,323 136,727 35,000 1,513,235 110,463,121 Total 411,931,444 5,656,459 5,114,775 1,688,219 930,867 11,941,865 437,263,629 (*) Others consist of financial assets in Indonesia, Hong Kong, Singapore, and other countries. |
Credit risk exposure by industries | The following tables analyze credit risk exposure by industries, which are service, manufacturing, finance and insurance, construction, individuals and others in accordance with the Korea Standard Industrial Classification Code (Unit: Korean Won in millions): December 31, 2017 Service Manufacturing Finance and Construction Individuals Others Total Loans and receivables 47,192,641 34,502,509 38,260,051 3,574,746 133,094,287 10,481,970 267,106,204 Financial assets at FVTPL 100,766 83,239 4,640,068 15,073 1,040 955,588 5,795,774 AFS debt securities 707,737 37,719 7,331,774 153,534 — 4,998,480 13,229,244 HTM securities 1,348,754 — 10,962,149 296,214 — 4,142,179 16,749,296 Derivative assets (Designated for hedging) — — 59,272 — — — 59,272 Off-balance 16,892,926 21,427,378 9,841,379 3,842,479 36,928,554 4,687,324 93,620,040 Total 66,242,824 56,050,845 71,094,693 7,882,046 170,023,881 25,265,541 396,559,830 December 31, 2018 Service Manufacturing Finance and Construction Individuals Others Total Loans and other financial assets at amortized cost 48,319,987 34,972,072 40,338,823 3,295,967 145,715,074 9,815,655 282,457,578 Securities at amortized cost 1,157,512 — 13,414,743 527,847 — 7,832,457 22,932,559 Financial assets at FVTPL 120,659 153,159 3,117,845 16,118 7,614 847,224 4,262,619 Financial assets at FVTOCI 382,409 109,749 13,017,646 224,665 5,535 3,372,245 17,112,249 Derivative assets (Designated for hedging) — — 35,503 — — — 35,503 Off-balance 17,645,104 22,300,388 9,654,685 4,146,708 49,948,865 6,767,371 110,463,121 Total 67,625,671 57,535,368 79,579,245 8,211,305 195,677,088 28,634,952 437,263,629 |
The maximum exposure to credit risk of financial assets, except for financial assets at FVTPL and derivative asset | December 31, 2018 Stage 1 Stage 2 Stage 3 Total Loss Total, net Above (*1) Less than a (*3) Above (*2) Less than a (*3) Loans and other financial assets at amortized cost 252,921,186 17,624,416 6,330,382 5,739,850 1,693,148 284,308,982 (1,851,404 ) 282,457,578 Korean treasury and government agencies 13,549,305 1,009 1 — — 13,550,315 (3,161 ) 13,547,154 Banks 22,163,951 105,583 27,777 — 14,307 22,311,618 (27,776 ) 22,283,842 Corporates 77,160,502 15,550,301 655,907 3,424,215 1,034,030 97,824,955 (1,197,284 ) 96,627,671 General business 43,173,952 6,474,057 526,303 1,723,704 716,722 52,614,738 (817,002 ) 51,797,736 Small- and medium-sized 29,510,917 8,527,542 107,998 1,547,761 277,825 39,972,043 (335,469 ) 39,636,574 Project financing and others 4,475,633 548,702 21,606 152,750 39,483 5,238,174 (44,813 ) 5,193,361 Consumers 140,047,428 1,967,523 5,646,697 2,315,635 644,811 150,622,094 (623,183 ) 149,998,911 Securities at amortized cost 22,939,039 — 195 — 250 22,939,484 (6,925 ) 22,932,559 Financial assets at FVTOCI (*4) 16,940,654 146,442 25,153 — — 17,112,249 (6,177 ) 17,112,249 Total 292,800,879 17,770,858 6,355,730 5,739,850 1,693,398 324,360,715 (1,864,506 ) 322,502,386 December 31, 2018 Collateral value Stage 1 Stage 2 Stage 3 Total Loans and other financial assets at amortized cost 163,329,105 8,836,440 698,593 172,864,138 Korean treasury and government agencies 11,600 — — 11,600 Banks 361,024 3,334 — 364,358 Corporates 51,595,949 2,509,620 426,325 54,531,894 General business 19,907,948 1,167,993 241,651 21,317,592 Small- and medium-sized 29,780,716 1,291,222 184,674 31,256,612 Project financing and others 1,907,285 50,405 — 1,957,690 Consumers 111,360,532 6,323,486 272,268 117,956,286 Securities at amortized cost — — — — Financial assets at FVTOCI (*4) — — — — Total 163,329,105 8,836,440 698,593 172,864,138 (*1) Credit grade of corporates are AAA ~ BBB, and consumers are grades 1 ~ 6. (*2) Credit grade of corporates are A- (*3) Credit grade of corporates are BBB- (*4) Financial assets at FVTOCI has been disclosed as the amount before deducting loss allowance because loss allowance does not reduce the carrying amount. |
The maximum exposure to credit risk of loans and receivables | Loans and receivables December 31, 2017 Corporates Korean Banks General Small- and medium-sized Project financing and others Sub-total Consumers Total Neither overdue nor impaired 8,825,767 26,861,286 50,463,112 34,107,547 5,547,950 90,118,609 139,886,407 265,692,069 Overdue but not impaired 8 — 65,616 63,067 — 128,683 878,406 1,007,097 Impaired — — 1,402,131 251,431 46,717 1,700,279 537,001 2,237,280 Total 8,825,775 26,861,286 51,930,859 34,422,045 5,594,667 91,947,571 141,301,814 268,936,446 Loss allowance 2,191 15,977 1,078,733 267,162 31,125 1,377,020 435,054 1,830,242 Total, net 8,823,584 26,845,309 50,852,126 34,154,883 5,563,542 90,570,551 140,866,760 267,106,204 |
Credit soundness of debt securities | Debt securities The Group manages debt securities based on the external credit rating. Credit soundness of debt securities on the basis of External Credit Assessment Institution (ECAI)’s rating is as follows (Unit: Korean Won in millions): December 31, 2017 Financial assets at (*) AFS debt securities HTM securities Total AAA 1,685,099 9,897,689 15,806,327 27,389,115 AA- 722,923 2,386,567 888,547 3,998,037 BBB- 236,311 876,482 52,188 1,164,981 Below BBB- 9,694 68,506 2,234 80,434 Total 2,654,027 13,229,244 16,749,296 32,632,567 (*) Financial assets at FVTPL comprise debt securities held for trading and financial assets designated as at FVTPL. |
Credit quality of the guarantees and loan commitments | Guarantees and loan commitments The credit quality of the guarantees and loan commitments as of December 31, 2018 as follows (Unit: Korean Won in millions): December 31, 2018 Financial assets Stage 1 Stage 2 Stage 3 Total Above (*1) Less than a (*3) Above (*2) Less than a (*3) Off-balance 11,212,772 1,063,551 7,147 261,599 121,348 12,666,417 Loan commitments 91,734,567 3,632,586 1,529,330 880,518 19,703 97,796,704 Total 102,947,339 4,696,137 1,536,477 1,142,117 141,051 110,463,121 (*1) Credit grade of corporates are AAA ~ BBB, and consumers are grades 1 ~ 6. (*2) Credit grade of corporates are A- (*3) Credit grade of corporate are BBB- |
Value at risk analysis for trading activities | Trading activities The minimum, maximum and average VaR for the year ended December 31, 2017 and 2018, respectively, and the VaR as of December 31, 2017 and 2018, respectively, are as follows (Unit: Korean Won in millions): December 31, For the year ended December 31, 2017 December 31, For the year ended December 31, 2018 Risk factor Average Maximum Minimum Average Maximum Minimum Interest rate 4,183 3,799 4,918 2,467 3,107 3,702 5,528 1,730 Stock price 909 2,863 4,419 909 2,353 2,669 5,081 1,138 Foreign currencies 4,750 5,051 6,636 4,061 4,972 4,678 6,136 3,439 Commodity price — 31 188 — — 3 24 — Diversification (4,472 ) (4,621 ) (6,798 ) (2,067 ) (4,445 ) (4,869 ) (8,155 ) (1,815 ) Total VaR (*) 5,370 7,123 9,363 5,370 5,987 6,183 8,614 4,492 (*) VaR (Value at Risk): Maximum expected losses |
Net interest income and net portfolio value calculated for the assets and liabilities owned by the Bank and consolidated trusts by using the simulation method | The NII and NPV are calculated for the assets and liabilities owned by the Bank and consolidated trusts, respectively, by using the simulation method. The scenario responding to interest rate (“IR”) changes are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 NII (*1) NPV (*2) NII (*1) NPV (*2) Base case 4,916,138 23,472,792 4,895,332 24,636,678 Base case (Prepay) 4,916,015 23,163,942 4,887,799 24,225,946 IR 100bp up 5,361,546 22,886,122 5,575,470 24,415,761 IR 100bp down 4,386,437 24,127,559 4,329,543 24,907,344 IR 200bp up 5,806,723 22,372,208 6,603,132 24,232,738 IR 200bp down 3,452,590 24,830,482 3,508,859 25,245,667 IR 300bp up 6,251,897 21,929,189 7,560,155 24,079,415 IR 300bp down 2,254,609 26,633,807 3,352,267 25,680,084 (*1) NII: Net Interest Income (*2) NPV: Net Portfolio Value |
Interest earning at risk and interest value at risk calculated based on BIS framework for subsidiaries other than the Bank and consolidated trusts | The interest EaR and VaR calculated based on the BIS Framework of subsidiaries other than the Bank and consolidated trusts are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 EaR (*1) VaR (*2) EaR (*1) VaR (*2) 255,679 130,821 248,364 141,484 (*1) EaR(Earning at Risk): Change of Maximum expected income and expense (*2) VaR(Value at Risk): Maximum expected losses |
Cash flows of principal amounts and interests from interest bearing assets and liabilities by each re-pricing date | The Group estimates and manages risks related to changes in interest rate due to the difference in the maturities of interest-bearing assets and liabilities and discrepancies in the terms of interest rates. Cash flows (both principal and interest), interest bearing assets and liabilities, presented by each re-pricing December 31, 2017 Within 3 4 to 6 months 7 to 9 months 10 to 12 1 to 5 years Over 5 years Total Asset: Loans and receivables 161,653,892 41,671,530 7,614,159 6,411,841 54,150,998 26,272,958 297,775,378 AFS financial assets 2,150,708 2,500,103 2,016,711 2,367,762 4,229,000 601,735 13,866,019 HTM financial assets 2,286,179 2,161,467 1,433,425 1,687,362 9,369,794 345,868 17,284,095 Total 166,090,779 46,333,100 11,064,295 10,466,965 67,749,792 27,220,561 328,925,492 Liability: Deposits due to customers 106,815,564 37,750,367 25,117,556 27,585,458 37,518,878 91,246 234,879,069 Borrowings 9,865,249 1,056,579 412,966 437,431 2,709,010 479,827 14,961,062 Debentures 1,955,902 2,452,240 1,018,563 1,752,847 19,770,538 2,869,766 29,819,856 Total 118,636,715 41,259,186 26,549,085 29,775,736 59,998,426 3,440,839 279,659,987 December 31, 2018 Within 3 4 to 6 months 7 to 9 months 10 to 12 1 to 5 years Over 5 Total Asset: Loans and other financial assets at amortized cost 159,894,065 45,387,214 8,878,060 9,903,959 46,459,450 4,201,379 274,724,127 Financial assets at FVTPL 371,984 32,278 24,951 64,838 145,121 27,536 666,708 Financial assets at FVTOCI 2,579,442 1,775,435 1,486,953 2,223,494 9,289,742 185,320 17,540,386 Securities at amortized cost 2,449,416 2,251,180 1,735,698 1,946,948 15,177,608 402,671 23,963,521 Total 165,294,907 49,446,107 12,125,662 14,139,239 71,071,921 4,816,906 316,894,742 Liability: Deposits due to customers 100,232,916 44,207,416 29,419,951 35,427,657 40,130,055 72,276 249,490,271 Borrowings 9,971,680 1,924,390 670,404 518,167 2,723,156 626,364 16,434,161 Debentures 2,153,916 2,416,483 2,201,070 2,584,230 18,955,400 2,403,077 30,714,176 Total 112,358,512 48,548,289 32,291,425 38,530,054 61,808,611 3,101,717 296,638,608 |
Foreign currency risk exposure of financial instruments in foreign currency | Financial instruments in foreign currencies exposed to currency risk are as follows (Unit: USD in millions, JPY in millions, CNY in millions, EUR in millions, and Korean Won in millions): December 31, 2017 USD JPY CNY EUR Others Total Foreign Korean equivalent Foreign currency Korean equivalent Foreign currency Korean equivalent Foreign Korean equivalent Korean equivalent Korean equivalent Asset Loans and receivables 23,000 24,642,900 126,944 1,204,843 25,224 4,127,936 1,156 1,479,351 3,937,733 35,392,763 Financial assets at FVTPL 32 34,303 25 238 — — 27 34,583 104,892 174,016 AFS financial assets 1,966 2,105,972 — — 319 52,259 — 590 302,801 2,461,622 HTM financial assets 111 118,868 — — — — — — 78,175 197,043 Total 25,109 26,902,043 126,969 1,205,081 25,543 4,180,195 1,183 1,514,524 4,423,601 38,225,444 Liability Financial liabilities at FVTPL 41 43,423 79 752 — — 19 24,878 69,977 139,030 Deposits due to customers 13,744 14,725,686 195,176 1,852,440 21,865 3,578,142 883 1,129,802 2,396,826 23,682,896 Borrowings 6,604 7,080,118 2,218 21,056 — — 247 315,685 242,874 7,659,733 Debentures 3,467 3,714,411 — — 700 114,555 — — 375,749 4,204,715 Other financial liabilities 2,392 2,562,740 16,125 153,043 1,802 294,950 129 165,189 588,625 3,764,547 Total 26,248 28,126,378 213,598 2,027,291 24,367 3,987,647 1,278 1,635,554 3,674,051 39,450,921 Off-balance 8,108 8,687,009 33,624 319,127 1,199 196,261 406 519,843 176,886 9,899,126 December 31, 2018 USD JPY CNY EUR Others Total Foreign Korean equivalent Foreign currency Korean equivalent Foreign currency Korean equivalent Foreign Korean equivalent Korean equivalent Korean equivalent Asset Loans and other financial assets at amortized cost 20,406 22,816,027 167,419 1,696,255 29,880 4,863,230 1,994 2,550,147 4,742,340 36,667,999 Financial assets at FVTPL 74 82,197 1,425 14,434 — — 59 75,169 79,584 251,384 Financial assets at FVTOCI 1,472 1,645,595 — — 1,604 261,085 — — 729,581 2,636,261 Securities at amortized cost 52 58,489 — — — — — — 175,552 234,041 Total 22,004 24,602,308 168,844 1,710,689 31,484 5,124,315 2,053 2,625,316 5,727,057 39,789,685 Liability Financial liabilities at FVTPL 118 131,927 1,956 19,815 — — 55 70,250 121,658 343,650 Deposits due to customers 11,159 12,477,154 169,770 1,720,072 23,967 3,900,923 887 1,135,149 4,392,936 23,626,234 Borrowings 6,606 7,386,616 3,834 38,847 381 61,947 286 365,585 505,541 8,358,536 Debentures 3,645 4,075,084 — — — — — — 285,339 4,360,423 Other financial liabilities 2,522 2,820,290 28,955 293,362 1,818 295,919 193 246,584 18,527 3,674,682 Total 24,050 26,891,071 204,515 2,072,096 26,166 4,258,789 1,421 1,817,568 5,324,001 40,363,525 Off-balance 7,453 8,333,153 33,347 337,868 1,557 253,366 474 606,714 823,655 10,354,756 |
Cash flows of principals and interests of non-derivative financial liabilities by remaining contractual maturities | Cash flows of principals and interests by remaining contractual maturities of non-derivative December 31, 2017 Within 3 4 to 6 months 7 to 9 months 10 to 12 1 to 5 years Over 5 years Total Financial liabilities at FVTPL 168,442 155,984 1,717 512 375 — 327,030 Deposits due to customers 148,008,777 29,563,310 18,175,348 32,468,110 7,409,118 2,624,594 238,249,257 Borrowings 6,115,732 1,893,173 1,489,272 1,178,107 3,924,681 479,568 15,080,533 Debentures 1,955,255 2,452,565 1,018,714 1,744,731 19,770,380 2,869,699 29,811,344 Other financial liabilities 7,121,342 162,871 825 1,003 128,940 2,730,001 10,144,982 Total 163,369,548 34,227,903 20,685,876 35,392,463 31,233,494 8,703,862 293,613,146 December 31, 2018 Within 3 4 to 6 months 7 to 9 months 10 to 12 1 to 5 years Over 5 years Total Financial liabilities at FVTPL 191,825 — — — — — 191,825 Deposits due to customers 145,187,689 33,825,662 22,186,833 42,046,740 7,098,907 1,870,334 252,216,165 Borrowings 6,373,835 2,846,294 1,874,069 1,607,985 3,156,128 642,017 16,500,328 Debentures 2,153,916 2,416,483 2,201,070 2,584,230 18,955,400 2,403,077 30,714,176 Other financial liabilities 14,240,022 44,572 169,996 1,201 90,615 2,288,560 16,834,966 Total 168,147,287 39,133,011 26,431,968 46,240,156 29,301,050 7,203,988 316,457,460 |
Cash flows from principals and interests of non-derivative financial liabilities by expected maturities | Cash flows of principals and interests by expected maturities of non-derivative December 31, 2017 Within 3 4 to 6 months 7 to 9 months 10 to 12 1 to 5 years Over 5 Total Financial liabilities at FVTPL 168,442 155,984 1,717 512 375 — 327,030 Deposits due to customers 159,146,602 31,298,562 16,667,130 21,995,294 6,487,047 2,278,756 237,873,391 Borrowings 6,115,732 1,893,173 1,489,272 1,178,107 3,924,681 479,568 15,080,533 Debentures 1,955,255 2,452,565 1,018,714 1,744,731 19,770,380 2,869,699 29,811,344 Other financial liabilities 7,121,342 162,871 825 1,003 128,940 2,730,001 10,144,982 Total 174,507,373 35,963,155 19,177,658 24,919,647 30,311,423 8,358,024 293,237,280 December 31, 2018 Within 3 4 to 6 months 7 to 9 months 10 to 12 1 to 5 years Over 5 years Total Financial liabilities at FVTPL 191,825 — — — — — 191,825 Deposits due to customers 163,787,990 38,126,886 20,993,436 23,262,092 5,230,533 17,649 251,418,586 Borrowings 6,373,835 2,846,294 1,874,069 1,607,985 3,156,128 642,017 16,500,328 Debentures 2,153,916 2,416,483 2,201,070 2,584,230 18,955,400 2,403,077 30,714,176 Other financial liabilities 14,240,022 44,572 169,996 1,201 90,615 2,288,560 16,834,966 Total 186,747,588 43,434,235 25,238,571 27,455,508 27,432,676 5,351,303 315,659,881 |
Cash flow of derivative financial liabilities by maturities | The cash flow by the maturity of derivative financial liabilities as of December 31, 2017 and 2018 is as follows (Unit: Korean Won in millions): Remaining maturity Within 3 4 to 6 months 7 to 9 months 10 to 12 1 to 5 years Over 5 Total December 31, 2017 3,150,149 — — 381 67,373 — 3,217,903 December 31, 2018 2,090,861 816 — — 50,592 — 2,142,269 |
Maturity analysis of off-balance accounts | The Group provides guarantees on behalf of customers. A financial guarantee represents an irrevocable undertaking that the Group should meet a customer’s obligations to third parties if the customer fails to do so. Under a loan commitment, the Group agrees to make funds available to a customer in the future. Commitments to lend include commercial standby facilities and credit lines, liquidity facilities to commercial paper conduits and utilized overdraft facilities. The maximum limit to be paid by the Group in accordance with guarantees and loan commitment only applies to principal amounts. There are contractual maturities for financial guarantees, such as guarantees for debentures issued or loans, unused loan commitments, and other guarantees, however, under the terms of the guarantees and unused loan commitments, funds should be paid upon demand from the counterparty. Details of off-balance December 31, 2017 December 31, 2018 Guarantees 12,859,715 12,666,417 Loan commitments 80,760,325 97,796,704 |
Capital adequacy ratio | Details of the Group’s capital adequacy ratio as of December 31, 2017 and 2018 are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 Tier 1 capital 16,074,987 17,275,539 Other Tier 1 capital 3,041,664 3,147,680 Tier 2 capital 3,486,555 3,827,573 Total risk-adjusted capital 22,603,206 24,250,792 Risk-weighted assets for credit risk 134,767,711 142,626,069 Risk-weighted assets for market risk 2,316,938 2,372,451 Risk-weighted assets for operational risk 9,677,559 9,972,430 Total risk-weighted assets 146,762,208 154,970,950 Common Equity Tier 1 ratio 10.95 % 11.15 % Tier 1 capital ratio 13.03 % 13.18 % Total capital ratio 15.40 % 15.65 % |
Operating Segments (Tables)
Operating Segments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of operating segments [Abstract] | |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated | The details of operating income by each segment are as follows (Unit: Korean Won in millions): For the year ended December 31, 2016 Consumer Corporate Investment Capital Credit Headquarter Sub-total Adjust- (*) Total Net Interest income Interest income 2,979,811 3,026,148 153,160 19,575 556,682 1,492,147 8,227,523 284,789 8,512,312 Interest expense (1,023,290 ) (1,780,990 ) (225 ) (324 ) (128,586 ) (863,523 ) (3,796,938 ) 304,170 (3,492,768 ) Inter-segment (472,288 ) 495,982 (138,322 ) 29,575 — 85,053 — — — 1,484,233 1,741,140 14,613 48,826 428,096 713,677 4,430,585 588,959 5,019,544 Net non-interest Non-interest 923,810 535,514 605,026 7,590,087 986,148 4,563,280 15,203,865 (13,039,498 ) 2,164,367 Non-interest (405,912 ) (32,873 ) (444,141 ) (7,586,054 ) (906,434 ) (4,173,415 ) (13,548,829 ) 12,251,676 (1,297,153 ) Inter-segment 39,512 47,553 — — — (87,065 ) — — — 557,410 550,194 160,885 4,033 79,714 302,800 1,655,036 (787,822 ) 867,214 Other income(expense) General and administrative expense (1,788,672 ) (966,878 ) (14,983 ) (17,964 ) (148,001 ) (793,978 ) (3,730,476 ) 252,000 (3,478,476 ) Reversal of allowance for credit loss and impairment losses due to credit loss (86,907 ) (509,312 ) (95,880 ) (34,031 ) (216,136 ) 219,372 (722,894 ) (111,182 ) (834,076 ) (1,875,579 ) (1,476,190 ) (110,863 ) (51,995 ) (364,137 ) (574,606 ) (4,453,370 ) 140,818 (4,312,552 ) Operating income 166,064 815,144 64,635 864 143,673 441,871 1,632,251 (58,045 ) 1,574,206 Non-operating (35,081 ) (1,619 ) 46,559 (5,288 ) (1,504 ) 55,291 58,358 (79,175 ) (20,817 ) Net income before income tax expense 130,983 813,525 111,194 (4,424 ) 142,169 497,162 1,690,609 (137,220 ) 1,553,389 Income tax expense (31,698 ) (203,983 ) (26,909 ) 1,071 (32,774 ) 16,476 (277,817 ) 1,961 (275,856 ) Net income(expense) 99,285 609,542 84,285 (3,353 ) 109,395 513,638 1,412,792 (135,259 ) 1,277,533 For the year ended December 31, 2017 Consumer Corporate Investment Capital Credit Headquarters Sub-total Adjust- (*) Total Net Interest income Interest income 3,149,625 2,964,813 148,500 18,834 599,550 1,360,734 8,242,056 308,631 8,550,687 Interest expense (955,836 ) (1,681,652 ) (243 ) — (135,947 ) (834,662 ) (3,608,340 ) 278,303 (3,330,037 ) Inter-segment (490,850 ) 512,216 (136,133 ) 18,049 — 96,718 — — — 1,702,939 1,795,377 12,124 36,883 463,603 622,790 4,633,716 586,934 5,220,650 Net non-interest Non-interest 802,387 680,778 366,523 9,548,399 1,163,575 2,683,407 15,245,069 (12,858,172 ) 2,386,897 Non-interest (253,961 ) (170,268 ) (214,355 ) (9,478,728 ) (1,090,038 ) (2,132,053 ) (13,339,403 ) 12,204,532 (1,134,871 ) Inter-segment 101,524 60,826 — — — (162,350 ) — — — 649,950 571,336 152,168 69,671 73,537 389,004 1,905,666 (653,640 ) 1,252,026 Other income (expense) General and administrative expense (1,808,974 ) (832,429 ) (12,881 ) (16,567 ) (163,536 ) (954,238 ) (3,788,625 ) 257,824 (3,530,801 ) Reversal of allowance for credit loss and impairment losses due to credit loss (97,587 ) (316,859 ) (50,954 ) 31,229 (235,116 ) 14,832 (654,455 ) (130,678 ) (785,133 ) (1,906,561 ) (1,149,288 ) (63,835 ) 14,662 (398,652 ) (939,406 ) (4,443,080 ) 127,146 (4,315,934 ) Operating income 446,328 1,217,425 100,457 121,216 138,488 72,388 2,096,302 60,440 2,156,742 Non-operating (98,510 ) (3,153 ) 39,350 — (5,219 ) (112,734 ) (180,266 ) (26,970 ) (207,236 ) Net income before income tax expense 347,818 1,214,272 139,807 121,216 133,269 (40,346 ) 1,916,036 33,470 1,949,506 Income tax expense (84,172 ) (296,634 ) (33,834 ) (29,335 ) (32,055 ) 63,396 (412,634 ) (6,784 ) (419,418 ) Net income(expense) 263,646 917,638 105,973 91,881 101,214 23,050 1,503,402 26,686 1,530,088 For the year ended December 31, 2018 Consumer Corporate Investment Capital Credit Headquarters Sub-total Adjust- (*) Total Net Interest income (expense) Interest income 3,529,645 3,409,835 152,273 8,945 670,240 1,605,696 9,376,634 307,865 9,684,499 Interest expense (1,021,639 ) (2,168,000 ) (150 ) — (160,642 ) (983,547 ) (4,333,978 ) 300,430 (4,033,548 ) Inter-segment (634,110 ) 833,224 (163,962 ) 25,963 — (61,115 ) — — — 1,873,896 2,075,059 (11,839 ) 34,908 509,598 561,034 5,042,656 608,295 5,650,951 Net non-interest Income (expense) Non-interest 678,360 721,096 230,357 7,020,740 665,534 1,214,380 10,530,467 (8,463,129 ) 2,067,338 Non-interest (143,704 ) (290,347 ) (53,671 ) (6,964,671 ) (620,687 ) (550,919 ) (8,623,999 ) 7,618,618 (1,005,381 ) Inter-segment 132,690 70,016 — — — (202,706 ) — — — 667,346 500,765 176,686 56,069 44,847 460,755 1,906,468 (844,511 ) 1,061,957 Other income (expense) General and administrative expense (1,865,933 ) (868,608 ) (14,318 ) (18,452 ) (170,765 ) (967,923 ) (3,905,999 ) 281,966 (3,624,033 ) Reversal of allowance for credit loss and impairment losses due to credit loss (127,220 ) (61,064 ) 62,454 (16,861 ) (227,144 ) 102,574 (267,261 ) (62,313 ) (329,574 ) (1,993,153 ) (929,672 ) 48,136 (35,313 ) (397,909 ) (865,349 ) (4,173,260 ) 219,653 (3,953,607 ) Operating income (expenses) 548,089 1,646,152 212,983 55,664 156,536 156,440 2,775,864 (16,563 ) 2,759,301 Non-operating (20,208 ) 899 32,738 — (5,547 ) 56,829 64,711 (19,140 ) 45,571 Net income (expense) before income tax expense 527,881 1,647,051 245,721 55,664 150,989 213,269 2,840,575 (35,703 ) 2,804,872 Income tax expense (145,167 ) (445,619 ) (67,573 ) (15,308 ) (36,222 ) (41,088 ) (750,977 ) (2,246 ) (753,223 ) Net income (expense) 382,714 1,201,432 178,148 40,356 114,767 172,181 2,089,598 (37,949 ) 2,051,649 (*) These adjustments are performed in order to present intersegment profit or loss adjustments based on managerial accounting as profit or loss in accordance with IFRS. |
Cash and cash equivalents (Tabl
Cash and cash equivalents (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Cash and cash equivalents [Abstract] | |
Schedule of Cash and Cash Equivalents | Details of cash and cash equivalents are as follows (Unit: Korean Won in millions): December 31, December 31, Cash 2,009,363 2,107,861 Foreign currencies 617,155 725,083 Demand deposits 3,423,355 3,512,216 Fixed deposits 858,413 402,734 Total 6,908,286 6,747,894 |
Significant transactions of investing activities and financing activities not involving cash inflows and outflows | Significant transactions of investing activities and financing activities not involving cash inflows and outflows are as follows (Unit: Korean Won in millions): For the years ended 2017 2018 Changes in other comprehensive income related to valuation of financial assets at FVTOCI — 2,505 Changes in other comprehensive income related to available-for-sale (84,498 ) — Changes in other comprehensive income related to valuation of equity method investments 612 2,958 Changes in other comprehensive income related to valuation gain or loss on cash flow hedge 777 (4,646 ) Changes in financial assets at FVTOCI as a result of debt-equity swap — 14,378 Changes in investments in associates due to debt-equity swap 51,227 — Changes in investments in associates due to accounts transfer (62,571 ) (89,151 ) Changes in unpaid dividends on hybrid equity securities (10,658 ) 3,569 Changes in equity related to assets held for sale 4,145 (4,145 ) Classified to assets held for sale from premises and equipment — 6,243 |
Adjustments of liabilities from financing activities | Adjustments of liabilities from financing activities in current year are as follows (Unit: Korean Won in millions): For the year ended December 31, 2017 January 1, 2017 Cash flow Not involving cash inflows and December 31, 2017 Foreign Variation Others Borrowings 18,769,515 (3,634,883 ) (350,429 ) — 503 14,784,706 Debentures 23,565,449 4,817,701 (478,249 ) (39,373 ) 4,123 27,869,651 Total 42,334,964 1,182,818 (828,678 ) (39,373 ) 4,626 42,654,357 For the year ended December 31, 2018 January 1, 2018 Cash flow Not involving cash inflows and December 31, 2018 Foreign Variation Others Borrowings 14,784,706 1,257,121 161,078 — 81 16,202,986 Debentures 27,869,651 612,331 267,339 (25,498 ) 12,039 28,735,862 Total 42,654,357 1,869,452 428,417 (25,498 ) 12,120 44,938,848 |
Financial assets at fair valu_3
Financial assets at fair value through profit or loss (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Financial assets at fair value through profit or loss [Abstract] | |
Financial assets at fair value through profit or loss | Financial assets at FVTPL are as follows (Unit: Korean Won in millions): December 31, December 31, Financial assets at fair value through profit or loss mandatorily measured at fair value — 6,126,316 Financial assets held for trading 5,820,787 — Financial assets designated as at FVTPL 22,290 — Total 5,843,077 6,126,316 |
Financial assets at fair value through profit or loss and financial assets held for trading | Financial assets at fair value through profit or loss mandatorily measured at fair value and financial assets held for trading are as follows (Unit: Korean Won in millions): December 31, December 31, Deposits: Gold banking asset 25,972 26,935 Securities: Debt securities Korean treasury and government agencies 540,438 516,173 Financial institutions 1,476,498 533,393 Corporates 627,397 774,589 Equity securities 21,666 455,666 Capital contributions — 422,614 Beneficiary certificates 13,041 985,417 Sub-total 2,679,040 3,687,852 Loans — 385,450 Derivative assets 3,115,775 2,026,079 Total 5,820,787 6,126,316 |
Financial assets designated at fair value through profit or loss | Financial assets at fair value through profit or loss designated as upon initial recognition are nil as of December 31, 2018 and financial assets at fair value through profit or loss designated as upon initial recognition as of December 31, 2017 are as follows (Unit: Korean Won in millions): December 31, Debt securities 9,694 Equity securities 12,596 Total 22,290 |
Financial assets at fair valu_4
Financial assets at fair value through other comprehensive income and available-for-sale financial assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Financial assets at fair falue through other comprehensive income and available-for-sale financial assets [Abstract] | |
Disclosure Of Available-for-sale Assets Explanatory | Detail of AFS financial assets as of December 31, 2017 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2017 Amortized cost Cumulative gains on Cumulative losses on Fair value Debt securities: Korean treasury and government agencies 2,338,760 1,193 (9,386 ) 2,330,567 Financial institutions 5,225,921 1,504 (10,159 ) 5,217,266 Corporates 2,727,016 3,851 (5,635 ) 2,725,232 Asset-backed securities 309,518 — (1,337 ) 308,181 Bond denominated in foreign currencies 2,449,954 3,100 (10,475 ) 2,442,579 Others 35,154 21 (12 ) 35,163 Sub-total 13,086,323 9,669 (37,004 ) 13,058,988 Equity securities 982,393 430,921 (2,236 ) 1,411,078 Beneficiary certificates 697,655 18,701 (3,728 ) 712,628 Securities loaned 169,988 664 (396 ) 170,256 Total 14,936,359 459,955 (43,364 ) 15,352,950 |
Details of financial assets at FVTOCI | Details of financial assets at FVTOCI as of December 31, 2018 are as follows (Unit: Korean Won in millions): December 31, 2018 Debt securities: Korean treasury and government agencies 1,358,378 Financial institutions 11,252,790 Corporates 1,824,843 Bond denominated in foreign currencies 2,636,209 Sub-total 17,072,220 Equity securities 951,174 Securities loaned 40,029 Total 18,063,423 |
Details of equity securities designated as financial assets at FVTOCI | Details of equity securities designated as financial assets at FVTOCI as of December 31, 2018 are as follows (Unit: Korean Won in millions): December 31, 2018 Purpose of acquisition Fair value Strategic business partnership 662,934 Debt-equity swap 287,990 Others (Cooperative insurance, etc.) 250 Total 951,174 |
Changes in loss allowance of financial assets at FVTOCI | Loss allowance For the year ended December 31, 2018 Stage 1 Stage 2 Stage 3 Total Beginning balance (*1) (4,107 ) (129 ) — (4,236 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net provision of loss allowance (1,918 ) (109 ) — (2,027 ) Others (*2) 86 — — 86 Ending balance (5,939 ) (238 ) — (6,177 ) (*1) The beginning balance was restated in accordance with IFRS 9. (*2) Others consist of foreign currencies translation, etc. |
Changes in gross carrying amount of financial assets at FVTOCI | Gross carrying amount For the year ended December 31, 2018 Stage 1 Stage 2 Stage 3 Total Beginning balance 12,843,997 30,212 — 12,874,209 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Acquisition 13,275,429 10,000 — 13,285,429 Disposal (9,146,307 ) (15,047 ) — (9,161,354 ) Gain (loss) on valuation 70,017 (59 ) — 69,958 Amortization on the effective interest method 10,195 47 — 10,242 Others (*) 33,765 — — 33,765 Ending balance 17,087,096 25,153 — 17,112,249 (*) Others consist of foreign currencies translation, etc. |
Securities at amortized cost _2
Securities at amortized cost and Held to maturity financial assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of securities at amortized cost and held to maturity financial assets [Abstract] | |
Details of HTM financial assets | Details of HTM financial assets as of December 31, 2017 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2017 Amortized cost Cumulative gains on Cumulative losses on Fair value Korean treasury and government agencies 3,994,857 6,944 (15,266 ) 3,986,535 Financial institutions 7,245,426 2,923 (15,067 ) 7,233,282 Corporates 5,311,970 12,367 (25,326 ) 5,299,011 Bond denominated in foreign currencies 197,043 832 (1,024 ) 196,851 Total 16,749,296 23,066 (56,683 ) 16,715,679 |
Details of securities at amortized cost | Details of securities at amortized cost as of December 31, 2018 are as follows (Unit: Korean Won in millions): December 31, 2018 Korean treasury and government agencies 7,523,458 Financial institutions 9,474,922 Corporates 5,707,063 Bond denominated in foreign currencies 234,041 Loss allowance (6,925 ) Total 22,932,559 |
Changes in loss allowance of securities at amortized cost | Loss allowance For the year ended December 31, 2018 Stage 1 Stage 2 Stage 3 Total Beginning balance (*1) (5,078 ) — — (5,078 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net provision of loss allowance (1,922 ) — — (1,922 ) Disposal 22 — — 22 Others (*2) 54 — — 54 Ending balance (6,924 ) — — (6,924 ) (*1) The beginning balance was restated in accordance with IFRS 9. (*2) Others consist of foreign currencies translation, etc. |
Changes in gross carrying amount of securities at amortized cost | Gross carrying amount For the year ended December 31, 2018 Stage 1 Stage 2 Stage 3 Total Beginning balance 16,749,296 — — 16,749,296 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Acquisition 15,622,847 — — 15,622,847 Disposal / Redemption (9,426,757 ) — — (9,426,757 ) Amortization on the effective interest method (7,970 ) — — (7,970 ) Others (*) 2,068 — — 2,068 Ending balance 22,939,484 — — 22,939,484 (*) Others consist of foreign currencies translation, etc. |
Loans and other financial ass_2
Loans and other financial assets at amortized cost and loans and receivables (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of loans and receivables [Abstract] | |
Details of loans and receivables and loans and other financial assets at amortized cost | Details of loans and receivables as of December 31, 2017 and loans and other financial assets at amortized cost as of December 31, 2018 are as follows (Unit: Korean Won in millions): December 31, December 31, Due from banks 8,868,378 14,151,012 Loans 251,523,301 260,819,917 Other financial assets(other receivables) 6,714,525 7,486,649 Total 267,106,204 282,457,578 |
Details of due from banks | December 31, December 31, Due from banks in local currency: Due from The Bank of Korea (“BOK”) 6,246,496 11,034,602 Due from depository banks 30,003 90,988 Due from non-depository 150 76 Due from the Korea Exchange 50,000 30,000 Others 97,365 85,915 Loss allowance (1,541 ) (3,069 ) Sub-total 6,422,473 11,238,512 Due from banks in foreign currencies: Due from banks on demand 794,353 828,022 Due from banks on time 972,915 1,288,303 Others 679,554 798,493 Loss allowance (917 ) (2,318 ) Sub-total 2,445,905 2,912,500 Total 8,868,378 14,151,012 |
Details of restricted due from banks | Details of restricted due from banks are as follows (Unit: Korean Won in millions): Counterparty December 31, Reason of restriction Due from banks in local currency: Due from BOK The BOK 6,246,496 Reserve deposits under the BOK Act Others The Korea Exchange and others 94,394 Central counterparty KRW margin and others Sub-total 6,340,890 Due from banks in foreign currencies: Due from banks on demand The BOK and others 787,520 Reserve deposits under the BOK Act and others Others The People’s Bank of China and others 367,108 Reserve deposits and others Sub-total 1,154,628 Total 7,495,518 Counterparty December 31, Reason of restriction Due from banks in local currency: Due from BOK The BOK 11,034,602 Reserve deposits under the BOK Act Others The Korea Exchange and others 81,889 Central counterparty KRW margin and others Sub-total 11,116,491 Due from banks in foreign currencies: Due from banks on demand The BOK and others 780,576 Reserve deposits under the BOK Act and others Others Korea Investment & Securities and others 798,493 Overseas futures and options trade deposits and others Sub-total 1,579,069 Total 12,695,560 |
Changes in loss allowance of due from banks | Loss allowance For the year ended December 31, 2018 Stage 1 Stage 2 Stage 3 Total Beginning balance (*1) (3,092 ) — — (3,092 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net provision of loss allowance (2,219 ) — — (2,219 ) Others (*2) (76 ) — — (76 ) Ending balance (5,387 ) — — (5,387 ) (*1) The beginning balance was restated in accordance with IFRS 9. (*2) Others consist of foreign currencies translation and etc. |
Changes in gross carrying amount of due from banks | Gross carrying amount For the year ended December 31, 2018 Stage 1 Stage 2 Stage 3 Total Beginning balance 8,870,835 — — 8,870,835 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net increase 5,302,244 — — 5,302,244 Other (16,680 ) — — (16,680 ) Ending balance 14,156,399 — — 14,156,399 |
Details of loans | Details of loans are as follows (Unit: Korean Won in millions): December 31, December 31, Loans in local currency 200,213,230 210,701,421 Loans in foreign currencies 13,147,888 15,239,032 Domestic banker’s letter of credit 2,516,907 2,934,366 Credit card accounts 6,827,295 8,051,384 Bills bought in foreign currencies 8,197,159 7,874,457 Bills bought in local currency 334,714 22,885 Factoring receivables 137,523 45,851 Advances for customers on guarantees 23,620 13,810 Private placement bonds 362,319 365,531 Securitized loans 563,152 1,377,072 Call loans 3,003,455 2,669,080 Bonds purchased under resale agreements 16,859,064 11,701,951 Others 607,325 1,037,283 Loan origination costs and fees 510,860 574,178 Discounted present value (10,988 ) (10,308 ) Loss allowance (1,770,222 ) (1,778,076 ) Total 251,523,301 260,819,917 |
Changes in loss allowance of loans | (6) Changes in the loss allowances on loans and receivables for the year ended December 31, 2016 and 2017, are as follows (Unit: Korean Won in millions): For the year ended December 31, 2016 Consumers Corporates Credit card Others Total Beginning balance (203,433 ) (1,686,194 ) (145,810 ) (442,620 ) (2,478,057 ) Net provision (73,356 ) (536,359 ) (207,730 ) (73,318 ) (890,763 ) Recoveries of written-off (53,679 ) (192,183 ) (44,393 ) (19,233 ) (309,488 ) Charge-off 155,424 722,359 242,561 236,857 1,357,201 Sales of loans and receivables 2,055 113,177 — 91,800 207,032 Unwinding effect 10,319 66,901 — — 77,220 Others (*) (1,188 ) 13,457 — (2,510 ) 9,759 Ending balance (163,858 ) (1,498,842 ) (155,372 ) (209,024 ) (2,027,096 ) For the year ended December 31, 2017 Consumers Corporates Credit card Others Total Beginning balance (163,858 ) (1,498,842 ) (155,372 ) (209,024 ) (2,027,096 ) Net reversal (provision) of loss allowance (131,275 ) (539,222 ) (203,968 ) 12,192 (862,273 ) Recoveries of loans previously charged off (45,060 ) (84,413 ) (51,366 ) (68 ) (180,907 ) Charge-off 142,099 453,249 228,640 63,181 887,169 Disposal 898 65,145 — 29,186 95,229 Unwinding effect 8,643 36,548 — — 45,191 Others (*) 908 211,729 1 (193 ) 212,445 Ending balance (187,645 ) (1,355,806 ) (182,065 ) (104,726 ) (1,830,242 ) (*) Others consist of debt-equity swap, foreign currencies translation and etc. |
Changes in allowance for credit losses of loans and receivables | Changes in the loss allowance on loans for the year ended December 31, 2018 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2018 Consumers Corporates Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance (*1) (101,479 ) (41,358 ) (117,168 ) (365,251 ) (255,922 ) (905,243 ) Transfer to 12-month (9,848 ) 8,966 882 (24,324 ) 22,658 1,666 Transfer to lifetime expected credit losses 5,905 (7,183 ) 1,278 15,074 (407,780 ) 392,706 Transfer to credit-impaired financial assets 79,078 47,343 (126,421 ) 62,731 97,750 (160,481 ) Net reversal (provision) of loss allowance (86,224 ) (56,164 ) (49,637 ) (68,381 ) 193,392 (94,004 ) Recoveries of loans previously charged off — — (51,855 ) — — (127,630 ) Charge-off — — 204,552 — — 290,109 Disposal — 33 1,633 — 237 49,902 Unwinding effect — — 7,945 — — 23,381 Others (*2) (1,941 ) (5 ) (1,115 ) 31,840 46 1,921 Ending balance (114,509 ) (48,368 ) (129,906 ) (348,311 ) (349,619 ) (527,673 ) For the year ended December 31, 2018 Credit card accounts Sub-total Total Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance (*1) (57,134 ) (71,463 ) (102,858 ) (523,864 ) (368,743 ) (1,125,269 ) (2,017,876 ) Transfer to 12-month (13,846 ) 13,738 108 (48,018 ) 45,362 2,656 — Transfer to lifetime expected credit losses 5,871 (6,194 ) 323 26,850 (421,157 ) 394,307 — Transfer to credit-impaired financial assets 82,406 84,048 (166,454 ) 224,215 229,141 (453,356 ) — Net reversal (provision) of loss allowance (82,083 ) (98,260 ) (33,205 ) (236,688 ) 38,968 (176,846 ) (374,566 ) Recoveries of loans previously charged off — — (57,565 ) — — (237,050 ) (237,050 ) Charge-off — — 242,879 — — 737,540 737,540 Disposal — — — — 270 51,535 51,805 Unwinding effect — — — — — 31,326 31,326 Others (*2) (1 ) — — 29,898 41 806 30,745 Ending balance (64,787 ) (78,131 ) (116,772 ) (527,607 ) (476,118 ) (774,351 ) (1,778,076 ) (*1) The beginning balance was restated in accordance with IFRS 9. (*2) Others consist of debt-equity swap, foreign currencies translation and etc. |
Changes in gross carrying amount of loans | Changes in the gross carrying amount of loans for the year ended December 31, 2018 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2018 Consumers Corporates Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance 103,502,347 5,487,758 326,739 131,096,396 4,466,354 1,622,409 Transfer to 12-month 1,921,485 (1,912,046 ) (9,439 ) 1,081,702 (1,077,895 ) (3,807 ) Transfer to lifetime expected credit losses (3,186,506 ) 3,199,993 (13,487 ) (2,275,984 ) 2,733,860 (457,876 ) Transfer to credit-impaired financial assets (218,943 ) (127,447 ) 346,390 (348,503 ) (275,189 ) 623,692 Charge-off — — (204,552 ) — — (290,109 ) Disposal — (478 ) (31,910 ) — (2,781 ) (166,347 ) Net increase (decrease) 8,600,859 (619,771 ) (22,247 ) 1,900,116 (813,091 ) (307,304 ) Ending balance 110,619,242 6,028,009 391,494 131,453,727 5,031,258 1,020,658 For the year ended December 31, 2018 Credit card accounts Sub-total Total Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance 5,721,743 935,266 177,983 240,320,486 10,889,378 2,127,131 253,336,995 Transfer to 12-month 221,984 (221,841 ) (143 ) 3,225,171 (3,211,782 ) (13,389 ) — Transfer to lifetime expected credit losses (287,623 ) 288,027 (404 ) (5,750,113 ) 6,221,880 (471,767 ) — Transfer to credit-impaired financial assets (104,459 ) (95,758 ) 200,217 (671,905 ) (498,394 ) 1,170,299 — Charge-off — — (242,879 ) — — (737,540 ) (737,540 ) Disposal — — — — (3,259 ) (198,257 ) (201,516 ) Net increase (decrease) 1,310,199 77,078 74,215 11,811,174 (1,355,784 ) (255,336 ) 10,200,054 Ending balance 6,861,844 982,772 208,989 248,934,813 12,042,039 1,621,141 262,597,993 |
Details of other receivables | Details of other financial assets (other receivables) are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 CMA accounts 135,000 185,999 Receivables 4,459,318 4,864,738 Accrued income 1,026,273 1,002,964 Telex and telephone subscription rights and refundable deposits 984,620 986,834 Other receivables 166,877 514,055 Loss allowance (57,563 ) (67,941 ) Total 6,714,525 7,486,649 |
Changes in loss allowance of other receivables | Changes in the loss allowances on other financial assets for the year ended December 31, 2018 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2018 Stage 1 Stage 2 Stage 3 Total Beginning balance (*1) (2,955 ) (1,832 ) (54,211 ) (58,998 ) Transfer to 12-month (150 ) 139 11 — Transfer to lifetime expected credit losses 105 (416 ) 311 — Transfer to credit-impaired financial assets 6,509 304 (6,813 ) — Net provision of loss allowance (6,583 ) (166 ) (31,550 ) (38,299 ) Charge-off — — 28,200 28,200 Disposal — 1 1,264 1,265 Others (*2) (395 ) (1 ) 287 (109 ) Ending balance (3,469 ) (1,971 ) (62,501 ) (67,941 ) (*1) The beginning balance was restated in accordance with IFRS 9. (*2) Others consist of foreign currencies translation and etc. |
Changes in gross carrying amount of other receivables | Changes in the gross carrying amount of other financial assets for the year ended December 31, 2018 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2018 Stage 1 Stage 2 Stage 3 Total Beginning balance 6,662,335 29,124 79,912 6,771,371 Transfer to 12-month 7,573 (7,556 ) (17 ) — Transfer to lifetime expected credit losses (11,418 ) 11,734 (316 ) — Transfer to credit-impaired financial assets (7,580 ) (1,110 ) 8,690 — Charge-off — — (28,201 ) (28,201 ) Disposal — (5 ) (1,640 ) (1,645 ) Net increase and others 803,480 (3,994 ) 13,579 813,065 Ending balance 7,454,390 28,193 72,007 7,554,590 |
Fair value of financial asset_2
Fair value of financial assets and liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of fair value measurement [Abstract] | |
Schedule of fair value measurement of financial instruments [Table Text Block] | (2) Fair value hierarchy of financial assets and liabilities measured at fair value are as follows (Unit: Korean Won in millions): December 31, 2017 Level 1 (*1) Level 2 (*1) Level 3 (*2) Total Financial assets: Financial assets held for trading Deposits 25,972 — — 25,972 Debt securities 405,942 2,238,391 — 2,644,333 Equity securities 21,666 — — 21,666 Beneficiary certificates — 13,041 — 13,041 Derivative assets 1,021 3,093,272 21,482 3,115,775 Sub-total 454,601 5,344,704 21,482 5,820,787 Financial assets designated as at FVTPL Debt securities — — 9,694 9,694 Equity securities — — 12,596 12,596 Sub-total — — 22,290 22,290 AFS financial assets Debt securities 2,710,172 10,348,816 — 13,058,988 Equity securities 399,214 — 1,011,864 1,411,078 Beneficiary certificates — 68,722 643,906 712,628 Securities loaned 69,778 100,478 — 170,256 Sub-total 3,179,164 10,518,016 1,655,770 15,352,950 Derivative assets (Designated for hedging) — 59,272 — 59,272 Total 3,633,765 15,921,992 1,699,542 21,255,299 Financial liabilities: Financial liabilities held for trading Deposits due to customers 25,964 — — 25,964 Derivative liabilities 2,613 3,126,585 20,951 3,150,149 Sub-total 28,577 3,126,585 20,951 3,176,113 Financial liabilities designated as at FVTPL Equity-linked securities — — 160,057 160,057 Debentures — 91,739 — 91,739 Sub-total — 91,739 160,057 251,796 Derivative liabilities (Designated for hedging) — 67,754 — 67,754 Total 28,577 3,286,078 181,008 3,495,663 December 31, 2018 Level 1 (*1) Level 2 (*1) Level 3 Total Financial assets: Financial assets at fair value through profit or loss mandatorily measured at fair value Deposits 26,935 — — 26,935 Debt securities 239,794 1,575,972 8,389 1,824,155 Equity securities 53,806 — 401,860 455,666 Capital contributions — — 422,614 422,614 Beneficiary certificates 2,130 128,988 854,299 985,417 Loans — 205,000 180,450 385,450 Derivative assets 13,216 1,964,065 48,798 2,026,079 Sub-total 335,881 3,874,025 1,916,410 6,126,316 Financial assets at FVTOCI Debt securities 1,838,409 15,233,811 — 17,072,220 Equity securities 482,327 — 468,847 951,174 Securities loaned — 40,029 — 40,029 Sub-total 2,320,736 15,273,840 468,847 18,063,423 Derivative assets (Designated for hedging) — 35,503 — 35,503 Total 2,656,617 19,183,368 2,385,257 24,225,242 Financial liabilities: Financial liabilities at fair value through profit or loss mandatorily measured at fair value Deposits due to customers 27,058 — — 27,058 Derivative liabilities 2,245 2,071,925 16,691 2,090,861 Sub-total 29,303 2,071,925 16,691 2,117,919 Financial liabilities at fair value through profit or loss designated as upon initial recognition Equity-linked securities — — 164,767 164,767 Derivative liabilities (Designated for hedging) — 51,408 — 51,408 Total 29,303 2,123,333 181,458 2,334,094 (*1) There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. (*2) Certain unquoted AFS equity securities were measured at cost as of December 31, 2017, that amounted to 37,092 million Won. These unquoted equity instruments mostly represent minority investments in structured entity vehicles, such as asset securitization structures. They are measured at cost because (a) observable inputs of financial information to measure fair value were not available to obtain, (b) there was a significant variance in likely estimated cash flows or (c) the probabilities for various estimated cash flows could not be measured reliably. In addition, the Group has no intention to dispose these investments in the foreseeable future. |
Valuation methods and input variables for each type of financial instruments measured at fair value | Financial instruments are measured at fair value using a quoted market price in active markets. If there is no active market for a financial instrument, the Group determines the fair value using valuation methods. Valuation methods and input variables for each type of financial instruments are as follows: Valuation methods Input variables Loans The fair value of Loans is measured by the Binomial tree given the values of underlying assets and volatility. Values of underlying assets, Volatility Debt securities The fair value is measured by discounting the projected cash flows of debt securities by applying the market discount rate that has been applied to a proxy company that has similar credit rating to the issuers of the securities. Risk-free market rate, credit spread Equity securities, capital contributions and Beneficiary certificates Among DCF (Discounted Cash Flow) Model, FCFE (Free Cash Flow to Equity) Model, Comparable Company Analysis, Dividend Discount Model, Risk-adjusted Rate of Return Method, and Net Asset Value Method, more than one method is used given the characteristic of the subject of fair value measurement. Risk-free market rate, market risk premium, Beta, etc. Derivatives The in-house However, for some complicated financial instruments of which valuation should be based on some assumptions since some significant or all inputs to be used in the model are not observable in the market, the in-house Risk-free market rate, forward rate, volatility, foreign exchange rate, stock prices, etc. Equity-linked securities The fair value of security linked to stock prices or derivatives is measured by the models such as DCF model, FDM, or Monte Carlo Simulation given the natures of the securities or underlying assets. Values of underlying assets, risk-free market rate, market rate, dividend and convenience yield, volatility, correlation coefficient, credit spread, and foreign exchange rate Debentures The fair value is measured by discounting the projected cash flows of a debenture by applying the market discount rate that is reflecting credit rating of the Group. Risk-free market rate, forward rate |
Valuation methods of financial assets and liabilities measured at fair value and classified into Level 3 and significant but unobservable inputs | Valuation methods of financial assets and liabilities measured at fair value and classified into Level 3 and significant but unobservable inputs are as follows: Fair value Input variable Range Impact of changes in significant unobservable Loans Binomial tree Stock, Volatility of underlying asset 15.49%~36.96% Fair value increases as volatility of underlying asset increases. Derivative assets Option valuation model and others Correlation coefficient 0.9~0.98 Variation of fair value increases as correlation coefficient increases. Volatility of underlying asset 14.00%~34.28% Variation of fair value increases as volatility increases. Derivative liabilities Option valuation model and others Correlation coefficient 0.9~0.98 Variation of fair value increases as correlation coefficient increases. Volatility of underlying asset 14.00%~34.28% Variation of fair value increases as volatility increases. Equity-linked securities Monte Carlo Simulation and others Correlation coefficient 0.005~0.658 Equity-linked securities’ variation of fair value increases if both volatility and correlation coefficient increase. However, when correlation coefficient decreases despite the increase in volatility, the variation of fair value of a compound financial instrument may decrease. Volatility of underlying asset 22.09%~31.19% Equity securities, capital contributions and Beneficiary certificates External appraisal value and others Terminal growth rate 0.00% Fair value increases as terminal growth rate increases. Discount rate 3.67%~17.40% Fair value increases as discount rate decreases. Volatility of real estate sale price 0.00% Fair value increases as volatility of real estate sale price increases. |
Changes in financial assets and liabilities measured at fair value classified into Level 3 | (3) Changes in financial assets and liabilities measured at fair value classified into Level 3 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2016 January 1, 2016 Net Income (*1) Other income (loss) Purchases/ Issuances Disposals/ Settlements Transfer to or (*2) December 31, Financial assets: Financial assets held for trading Derivative instrument assets (*3) 78,676 (29,117 ) — 13,640 (39,506 ) (540 ) 23,153 Financial assets designed at FVTPL Debt securities 986 (161 ) — 4,509 (986 ) — 4,348 Equity securities 11,609 1,043 — — — — 12,652 Sub-total 12,595 882 — 4,509 (986 ) — 17,000 AFS financial assets Equity securities (*4) 993,368 (6,986 ) 57,323 205,749 (205,348 ) (19,171 ) 1,024,935 Beneficiary certificates 377,070 (868 ) 5,794 174,024 (25,509 ) — 530,511 Others 5,308 594 (643 ) — (5,259 ) — — Sub-total 1,375,746 (7,260 ) 62,474 379,773 (236,116 ) (19,171 ) 1,555,446 Derivative assets 5,973 3,877 — — (9,751 ) — 99 Total 1,472,990 (31,618 ) 62,474 397,922 (286,359 ) (19,711 ) 1,595,698 Financial liabilities: Financial liabilities held for trading Derivative liabilities 78,607 (8,322 ) — 1,155 (37,916 ) — 33,524 Financial liabilities designated at FVTPL Equity-linked securities 747,351 71,079 — — (144,721 ) — 673,709 Total 825,958 62,757 — 1,155 (182,637 ) — 707,233 (*1) The losses that increase financial liabilities are presented as positive amounts, and the gains that decrease financial liabilities are presented as negative amounts. The loss amounting to 94,238 million Won for the year ended December 31, 2016, which is from financial assets and liabilities that the Group holds, has been recognized in net gain (loss) on financial instruments at FVTPL and net gain (loss) on AFS financial assets in the statement of comprehensive income. (*2) The Group recognizes transfers between levels at the end of reporting period within which events have occurred or conditions have changed. (*3) As the variables used for the valuation of currency related derivatives became observable in the market, such derivatives were transferred out of Level 3 to Level 2. (*4) AFS financial assets were transferred out of level 1 to level 3 upon the change of the fair value measurement method of the assets by using market the external valuation specialists from previously using quoted prices in the active market, in the opposite case, they were transferred out of level 3 to level 1. For the year ended December 31, 2017 January 1, 2017 Net Income (*1) Other Purchases/ Issuances Disposals/ Settlements Transfer to or (*2) December 31, Financial assets: Financial assets held for trading Derivative assets 23,153 22,362 — 1,398 (25,431 ) — 21,482 Financial assets designed at FVTPL Debt securities 4,348 346 — 5,000 — — 9,694 Equity securities 12,652 (56 ) — — — — 12,596 Sub-total 17,000 290 — 5,000 — — 22,290 AFS financial assets Equity securities 1,024,935 27,986 24,442 65,961 (131,460 ) — 1,011,864 Beneficiary certificates 530,511 212 (4,321 ) 226,975 (109,471 ) — 643,906 Sub-total 1,555,446 28,198 20,121 292,936 (240,931 ) — 1,655,770 Derivative assets 99 329 — — (428 ) — — Total 1,595,698 51,179 20,121 299,334 (266,790 ) — 1,699,542 Financial liabilities: Financial liabilities held for trading Derivative liabilities 33,524 24,866 — 500 (37,939 ) — 20,951 Financial liabilities designated as at FVTPL Equity-linked securities 673,709 112,015 — — (625,667 ) — 160,057 Total 707,233 136,881 — 500 (663,606 ) — 181,008 (*1) The losses that increase financial liabilities are presented as positive amounts, and the gains that decrease financial liabilities are presented as negative amounts. The loss amounting to 34,621 million Won for the year ended December 31, 2017, which is from financial assets and liabilities that the Group holds, has been recognized in net gain (loss) on financial instruments at FVTPL and net gain (loss) on AFS financial assets in the statement of comprehensive income. (*2) The Group recognizes transfers between levels at the end of reporting period within which events have occurred or conditions have changed. For the year ended December 31, 2018 January 1, Net (*1) Other Purchases/ issuances Disposals/ settlements Transfer to or (*2) December 31, Financial assets: Financial assets at fair value through profit or loss mandatorily measured at fair value Debt securities 9,694 (28 ) — 3,000 (4,277 ) — 8,389 Equity securities 280,171 56,271 — 67,953 (2,535 ) — 401,860 Capital contributions 294,121 16,119 — 144,207 (31,833 ) — 422,614 Beneficiary certificates 654,066 16,391 — 5,151,535 (4,971,003 ) 3,310 854,299 Loans 165,001 3,378 — 150,103 (138,032 ) — 180,450 Derivative assets 19,346 75,696 — 4,722 (50,966 ) — 48,798 Sub-total 1,422,399 167,827 — 5,521,520 (5,198,646 ) 3,310 1,916,410 Financial assets at FVTOCI Equity securities 451,287 — 19,688 432 (2,560 ) — 468,847 Total 1,873,686 167,827 19,688 5,521,952 (5,201,206 ) 3,310 2,385,257 Financial liabilities: Financial liabilities at fair value through profit or loss mandatorily measured at fair value Derivative liabilities 20,951 46,409 — 255 (50,921 ) (3 ) 16,691 Financial liabilities at fair value through profit or loss designated as upon initial recognition Equity-linked securities 160,057 (16,243 ) — 183,039 (162,086 ) — 164,767 Total 181,008 30,166 — 183,294 (213,007 ) (3 ) 181,458 (*1) The losses that increase financial liabilities are presented as positive amounts, and the gains that decrease financial liabilities are presented as negative amounts. The gain amounting to 137,777 million Won for the years ended December 31, 2018, which is from financial assets and liabilities that the Group holds as at the end of the periods, has been recognized in net gain (loss) on financial assets at FVTPL and net gain (loss) on financial assets at FVTOCI in the consolidated statement of comprehensive income. (*2) The Group recognizes transfers between levels at the end of reporting period within which events have occurred or conditions have changed. |
Sensitivity analysis on the unobservable inputs used for measuring Level 3 financial instruments | The following table presents the sensitivity analysis to disclose the effect of reasonably possible volatility on the fair value of a Level 3 financial instruments (Unit: Korean Won in millions): For the year ended December 31, 2016 Net income (loss) Other comprehensive Favorable Unfavorable Favorable Unfavorable Financial assets: Financial assets held for trading Derivative assets (*1) 861 (2,248 ) — — Financial assets designed at FVTPL Debt securities (*4) 19 (18 ) — — Equity securities (*4) 688 (639 ) — — AFS Financial Assets Equity securities (*2)(*3) — — 31,412 (18,551 ) Beneficiary certificates (*3) — — 2,903 (2,571 ) Total 1,568 (2,905 ) 34,315 (21,122 ) Financial liabilities: Financial liabilities held for trading Derivative liabilities (*1) 4,892 (3,568 ) — — Financial liabilities designated at FVTPL Equity-linked securities (*1) 905 (857 ) — — Total 5,797 (4,425 ) — — December 31, 2017 Net income (loss) Other comprehensive Favorable Unfavorable Favorable Unfavorable Financial assets: Financial assets held for trading Derivative assets (*1) 1,234 (526 ) — — Financial assets designated as at FVTPL Debt securities (*4) 265 (309 ) — — Equity securities (*4) 670 (624 ) — — AFS Financial assets Equity securities (*2)(*3) — — 28,583 (15,246 ) Beneficiary certificates (*3) — — 1,861 (1,857 ) Total 2,169 (1,459 ) 30,444 (17,103 ) Financial liabilities: Financial liabilities held for trading Derivative liabilities (*1) 5 (513 ) — — Financial liabilities designated as at FVTPL Equity-linked securities (*1) 8 (7 ) — — Total 13 (520 ) — — December 31, 2018 Net income (loss) Other comprehensive Favorable Unfavorable Favorable Unfavorable Financial assets: Financial assets at FVTPL Derivative assets (*1) 4,578 (4,352 ) — — Loans 146 (127 ) — — Debt securities 68 (35 ) — — Equity securities (*2)(*3) 12,700 (9,165 ) — — Beneficiary certificates (*3) 1,582 (1,582 ) — — Financial assets at FVTOCI Equity securities (*2)(*3) — — 23,798 (10,078 ) Total 19,074 (15,261 ) 23,798 (10,078 ) Financial liabilities: Financial liabilities at fair value through profit or loss mandatorily measured at fair value Derivative liabilities (*1) 2,433 (2,751 ) — — Financial liabilities at fair value through profit or loss designated as upon initial recognition Equity-linked securities (*1) 1,561 (1,669 ) — — Total 3,994 (4,420 ) — — (*1) Fair value changes of equity related derivative assets and liabilities and equity-linked securities are calculated by increasing or decreasing historical volatility of the stock price and correlation, which are major unobservable variables, by 10%, respectively. In the case of interest rate related derivative assets and liabilities, fair value changes are calculated by increasing or decreasing the volatility of interest rate, which are major unobservable variables, by 10%. (*2) Fair value changes of equity securities are calculated by increasing or decreasing growth rate (0~1%) and discount rate or liquidation value (-1~1%). (*3) Even if the sensitivity analysis of the capital contributions and beneficiary certificates is not possible in practice, fair value changes of beneficiary certificates and other securities whose major unobservable variables are composed of the real estate are calculated by increasing or decreasing price fluctuation of real estate which is underlying assets and discount rate by 1%. (*4) Changes of fair value are measured by increasing or decreasing the discount rate by 10%, which is major unobservable variable, respectively. |
Schedule of fair value measurement of financial instruments measured at amortised costs [Table Text Block] | (5) Fair value and carrying amount of financial assets and liabilities that are recorded at amortized cost are as follows (Unit: Korean Won in millions): December 31, 2017 Fair value Book value Level 1 Level 2 Level 3 Total Financial assets: HTM financial assets 1,206,292 15,509,387 — 16,715,679 16,749,296 Loans and receivables — — 265,570,649 265,570,649 267,106,204 Financial liabilities: Deposits due to customers — 234,682,775 — 234,682,775 234,695,084 Borrowings — 14,754,506 — 14,754,506 14,784,706 Debentures — 27,889,781 — 27,889,781 27,869,651 Other financial liabilities — 13,890,789 — 13,890,789 13,892,461 December 31, 2018 Fair value Book value Level 1 Level 2 Level 3 Total Financial assets: Securities at amortized cost 3,618,213 19,417,130 — 23,035,343 22,932,559 Loans and other financial assets at amortized cost — — 282,342,760 282,342,760 282,457,578 Financial liabilities: Deposits due to customers — 248,763,952 — 248,763,952 248,690,939 Borrowings — 16,203,070 — 16,203,070 16,202,986 Debentures — 28,765,251 — 28,765,251 28,735,862 Other financial liabilities — 21,461,397 — 21,461,397 21,442,524 |
Valuation methods and input variables for financial assets and liabilities that are measured at amortized costs | The fair values of financial instruments are measured using quoted market price in active markets. In case there is no active market for financial instruments, the Group determines the fair value using valuation methods. Valuation methods and input variables for financial assets and liabilities that are measured at amortized costs are given as follows: Valuation methods Input variables Securities at amortized cost (HTM financial assets in previous year) The fair value is measured by discounting the projected cash flows of debt securities by applying the market discount rate that has been applied to a proxy company that has similar credit rating to the issuers of the securities. Risk-free market rate and credit spread Loans and other financial assets at amortized cost (Loans and receivables in previous year) The fair value is measured by discounting the projected cash flows of loan products by applying the market discount rate that has been applied to a proxy company that has similar credit rating to the debtor. Risk-free market rate, credit spread and prepayment-rate Deposits due to customers, borrowings, debentures and other financial liabilities The fair value is measured by discounting the projected cash flows of debt products by applying the market discount rate that is reflecting credit rating of the Group. Risk-free market rate and forward rate |
Carrying amounts of financial assets and liabilities by category | (6) Financial instruments by category Carrying amounts of financial assets and liabilities by each category are as follows (Unit: Korean Won in millions): December 31, 2017 Financial assets Financial assets AFS financial HTM financial Loans and Derivative assets Total Deposits 25,972 — — 8,868,378 — 8,894,350 Securities 2,701,330 15,352,950 16,749,296 — — 34,803,576 Loans — — — 251,523,301 — 251,523,301 Derivative assets 3,115,775 — — — 59,272 3,175,047 Other financial assets — — — 6,714,525 — 6,714,525 Total 5,843,077 15,352,950 16,749,296 267,106,204 59,272 305,110,799 Financial liabilities December 31, 2017 Financial liabilities at Financial liabilities Derivatives Total Deposits due to customers 25,964 234,695,084 — 234,721,048 Borrowings 160,057 14,784,706 — 14,944,763 Debentures 91,739 27,869,651 — 27,961,390 Derivative liabilities 3,150,149 — 67,754 3,217,903 Other financial liabilities (*) — 13,964,158 — 13,964,158 Total 3,427,909 291,313,599 67,754 294,809,262 (*) Other financial liabilities include 71,697 million Won of financial guarantee liabilities measured at amortized cost included in provisions. December 31, 2018 Financial assets Financial asset at Financial assets Financial assets at Derivative assets Total Deposits 26,935 — 14,151,012 — 14,177,947 Securities 3,687,852 18,063,423 22,932,559 — 44,683,834 Loans 385,450 — 260,819,917 — 261,205,367 Derivative assets 2,026,079 — — 35,503 2,061,582 Other financial assets — — 7,486,649 — 7,486,649 Total 6,126,316 18,063,423 305,390,137 35,503 329,615,379 Financial liabilities December 31, 2018 Financial liabilities at Financial liabilities Derivatives Total Deposits due to customers 27,058 248,690,939 — 248,717,997 Borrowings 164,767 16,202,986 — 16,367,753 Debentures — 28,735,862 — 28,735,862 Derivative liabilities 2,090,861 — 51,408 2,142,269 Other financial liabilities (*) — 21,490,341 — 21,490,341 Total 2,282,686 315,120,128 51,408 317,454,222 (*) Other financial liabilities include 47,817 million Won of financial guarantee liabilities measured at amortized cost included in provisions. |
Income or expense from financial instruments by category | (7) Income or expense from financial instruments by category Income or expense from financial assets and liabilities by each category during the years ended December 31, 2016, 2017 and 2018 are as follows (Unit: Korean Won in millions): December 31, 2016 Interest Fees and Provision (reversal) Others Total Financial assets at FVTPL 59,019 — — 187,678 246,697 AFS financial assets 339,518 70,910 (49,741 ) 274,084 634,771 HTM financial assets 360,054 — — — 360,054 Loans and receivables 7,747,013 346,730 (890,763 ) 199,974 7,402,954 Financial liabilities at FVTPL — — — (72,295 ) (72,295 ) Financial liabilities at amortized cost (3,486,060 ) — — 56,962 (3,429,098 ) Derivative assets (liabilities) (Designated for hedging) — — — (98,850 ) (98,850 ) Off-balance — — 56,687 — 56,687 Total 5,019,544 417,640 (883,817 ) 547,553 5,100,920 December 31, 2017 Interest Fees and Provision (reversal) Others Total Financial assets at FVTPL 48,615 — — 6,859 55,474 AFS financial assets 239,030 80,041 (31,300 ) 362,712 650,483 HTM financial assets 307,965 — — — 307,965 Loans and receivables 7,948,069 384,025 (862,273 ) 196,269 7,666,090 Financial liabilities at FVTPL — — — (111,240 ) (111,240 ) Financial liabilities at amortized cost (3,323,029 ) — — 39,373 (3,283,656 ) Derivative assets (liabilities) (Designated for hedging) — — — (109,447 ) (109,447 ) Off-balance — — 77,140 — 77,140 Total 5,220,650 464,066 (816,433 ) 384,526 5,252,809 December 31, 2018 Interest Fees and Provision (reversal) Others Total Financial assets at FVTPL 54,243 86,845 — 264,850 405,938 Financial assets at FVTOCI 280,371 66 (2,027 ) 24,707 303,117 Securities at amortized cost 376,788 — (1,922 ) 431 375,297 Loans and other financial assets at amortized cost 8,973,097 317,316 (415,084 ) 79,101 8,954,430 Financial liabilities at FVTPL (3,164 ) — — 17,485 14,321 Financial liabilities at amortized cost (4,030,384 ) 27,742 — 25,498 (3,977,144 ) Derivative assets (liabilities) (Designated for hedging) — — — (672 ) (672 ) Off-balance — — 89,459 — 89,459 Total 5,650,951 431,969 (329,574 ) 411,400 6,164,746 |
Derecognition and offset of f_2
Derecognition and offset of financial instruments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of derecognition and offsetting of financial assets and liabilities [Abstract] | |
Transferred financial assets of bonds under repurchase agreements that are not derecognized in their entirety | a) Bonds sold under repurchase agreements The financial instruments that were disposed but the Group agreed to repurchase at the fixed amounts at the same time, so that they did not meet the conditions of derecognition, are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 Assets transferred Financial assets at FVTOCI — 33,588 AFS financial assets 9,998 — Securities at amortized cost — 5,552 HTM financial assets 5,436 — Total 15,434 39,140 Related liabilities Bonds sold under repurchase agreements 3,173 42,907 |
Transferred financial assets of loaned securities that are not derecognized in their entirety | b) Securities loaned When the Group loans its securities to outside parties, the legal ownerships of the securities are transferred; however, they should be returned at the end of lending period. Therefore, the Group does not derecognize them from the financial statements as it owns majority of risks and benefits from the securities continuously, regardless of the transfer of legal ownership. The carrying amounts of the securities loaned are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, Loaned to Financial assets at FVTOCI Korean financial institution’s debt securities and others — 40,029 Korea Securities Finance Corporation AFS financial assets Korean treasury, government bonds and others 170,256 — Korea Securities Finance Corporation and others Total 170,256 40,029 |
Financial instruments to be offset and may be covered by master netting agreements and similar agreements | As of December 31, 2017 and 2018, the financial instruments to be off set and may be covered by master netting agreements and similar agreements are as follows (Unit: Korean Won in millions): December 31, 2017 Gross Gross Net amounts Related amounts not setoff Net amounts Netting Cash Financial assets: Derivative assets (*1) 2,992,476 1,710 2,990,766 5,787,448 174,415 796,629 Receivable spot exchange (*2) 3,767,726 — 3,767,726 Bonds purchased under resale agreements (*2) 16,859,064 — 16,859,064 16,859,064 — — Domestic exchanges settlement credits (*2)(*6) 39,050,227 38,985,354 64,873 — — 64,873 Total 62,669,493 38,987,064 23,682,429 22,646,512 174,415 861,502 December 31, 2017 Gross Gross amounts Net amounts Related amounts not setoff Net amounts Netting Cash Financial liabilities: Derivative liabilities (*1) 3,000,160 1,710 2,998,450 5,866,682 157,750 857,961 Equity-linked securities index in short position (*3) 160,057 — 160,057 Payable spot exchange (*4) 3,723,886 — 3,723,886 Bonds sold under repurchase agreements (*5) 3,173 — 3,173 3,173 — — Domestic exchanges settlement debits (*4)(*6) 40,284,515 38,985,354 1,299,161 1,293,931 — 5,230 Total 47,171,791 38,987,064 8,184,727 7,163,786 157,750 863,191 (*1) The items include derivatives held for trading, derivatives designated for hedging. (*2) The items are included in loans and receivables. (*3) The items are equity linked securities related to derivatives and are included in financial liabilities at fair value through profit or loss mandatorily measured at fair value. (*4) The items are included in other financial liabilities. (*5) The items are included in borrowings. (*6) Certain financial assets and liabilities are presented at as net amounts. December 31, 2018 Gross Gross Net amounts Related amounts not setoff of financial position Net amounts Netting Cash Financial assets: Derivative assets (*1) 1,908,542 — 1,908,542 5,527,117 66,857 515,100 Receivable spot exchange (*2) 4,200,532 — 4,200,532 Bonds purchased under resale agreements (*2) 11,701,951 — 11,701,951 11,701,951 — — Domestic exchange settlement credits (*2)(*6) 30,090,598 29,699,412 391,186 — — 391,186 Total 47,901,623 29,699,412 18,202,211 17,229,068 66,857 906,286 December 31, 2018 Gross Gross Net amounts Related amounts not setoff in the consolidated statement of Net amounts Netting Cash Financial liabilities: Derivative liabilities (*1) 1,862,681 — 1,862,681 5,540,147 115,615 577,713 Equity-linked securities index in short position (*3) 164,767 — 164,767 Payable spot exchange (*4) 4,206,027 — 4,206,027 Bonds sold under repurchase agreements (*5) 42,907 — 42,907 42,907 — — Domestic exchange settlement debits (*4)(*6) 36,832,774 29,699,412 7,133,362 6,231,538 — 901,824 Total 43,109,156 29,699,412 13,409,744 11,814,592 115,615 1,479,537 (*1) The items include derivatives held for trading, derivatives designated for hedging. (*2) The items are included in loan at amortized cost and other financial assets. (*3) The items are equity linked securities related to derivatives and are included in financial liabilities at FVTPL. (*4) The items are included in other financial liabilities. (*5) The items are included in borrowings. (*6) Certain financial assets and liabilities are presented as net amounts. |
Investment in Joint Ventures _2
Investment in Joint Ventures and Associates (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Equity Method Investments And Joint Ventures [Abstract] | |
Schedule of investments in associates and joint ventures accounted for using equity method [Table Text Block] | (1) Investments in joint ventures and associates accounted for using the equity method of accounting are as follows: Percentage of ownership Financial Joint ventures and Associates Main business December 31, December 31, Woori Bank: Kumho Tire Co., Inc. (*1) Manufacturing 14.2 — — Woori Service Networks Co., Ltd. (*4) Freight & staffing services 4.9 4.9 Nov.30,2018 (*3) Korea Credit Bureau Co., Ltd. (*5) Credit information 9.9 9.9 Dec.31,2018 Korea Finance Security Co., Ltd. (*4) Security service 15.0 15.0 Nov.30,2018 (*3) Chin Hung International Inc. (*2) Construction 25.3 25.3 Nov.30,2018 (*3) Poonglim Industrial Co., Ltd. (*9) Construction 29.4 — — STX Engine Co., Ltd. (*10) Manufacturing 29.2 — — STX Corporation (*10) Wholesale of non-specialized 19.7 — — Saman Corporation (*5) General construction Technology service 9.2 9.2 Sep.30,2018 (*3) Dongwoo C & C Co., Ltd. (*6) Construction 23.2 24.5 — SJCO Co., Ltd. (*6) Aggregate transportation and wholesale 26.5 26.5 — G2 Collection Co., Ltd. (*6) Wholesale and retail sales 28.9 28.9 — The Base Enterprise Co., Ltd. (*6) Manufacturing 48.4 48.4 — Kyesan Engineering Co., Ltd. (*6) Construction 23.2 23.3 — Good Software Lab Co., Ltd. (*6) Service 28.9 29.4 — Wongwang Co., Ltd. (*6) Wholesale and real estate 29.0 29.0 — Sejin Construction Co., Ltd. (*6) Construction 29.6 29.6 — QTS Shipping Co., Ltd. (*6) Complex transportation brokerage 49.4 49.4 — DAEA SNC Co., Ltd. (*6) Wholesale and retail sales 24.0 24.0 — ARES-TECH Co., Ltd. (*6) Electronic component manufacturing 23.4 23.4 — Force TEC Co., Ltd. (*6)(*7) Manufacturing — 25.8 — Sinseong Trading Co., Ltd. (*6)(*7) Manufacturing — 27.2 — Reading Doctors Co., Ltd. (*6) Other services 35.4 35.4 — PREXCO Co., Ltd. (*6) Manufacturing 28.1 28.1 — Hyunwoo International Co., Ltd. (*11) Manufacturing 25.9 — — Jiwon Plating Co., Ltd. (*6) Plating 20.5 20.8 — Cultizm Korea LTD Co., Ltd. (*6) Wholesale and retail sales 31.3 31.3 — Gil Co.,Ltd. (*6) Manufacturing 26.1 26.1 — NK Eng Co., Ltd. (*6) Manufacturing 23.1 23.1 — Youngdong Sea Food Co., Ltd. (*6)(*7) Processed sea food manufacturing — 24.0 — Woori Growth Partnerships New Technology Private Equity Fund Other financial services 23.1 23.1 Dec.31,2018 2016KIF-IMM Other financial services 20.0 20.0 Dec.31,2018 K BANK Co., Ltd. (*5) Finance 13.0 14.1 Nov.30,2018 (*3) Smart Private Equity Fund No.2 Other financial services 20.0 20.0 Dec.31,2018 Woori Bank-Company K Korea Movie Asset Fund Other financial services 25.0 25.0 Dec.31,2018 Well to Sea No. 3 Private Equity Fund (*12) Finance 50.0 50.0 Sep.30,2018 (*3) Partner One Value Up Ist Private Equity Fund (*8) Other financial services — 23.3 Dec.31,2018 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership (*8) Other financial services — 20.0 Dec.31,2018 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund (*8) Other financial services — 25.0 Dec.31,2018 Woori Investment Bank Co., Ltd.: Nomura-Rifa Private Real Estate Investment Trust No.17 (*5) Other financial services 25.0 19.4 Dec.31,2018 Woori Private Equity Asset Management Co., Ltd.: Uri Hanhwa Eureka Private Equity Fund (*5)(*8) Other financial services — 0.8 Dec.31,2018 (*1) The Group did not have significant influence over the entity due to the termination of the joint management procedures of the creditors’ financial institution, and thus the entity was excluded from the investment in associates for the years ended December 31, 2018. (*2) The investments in associates that have quoted market prices are Chin Hung International Inc. (current period: KRW 2,065, previous year: KRW 1,915). (*3) The significant transactions and events between the end of reporting period of the associates and the Group have been properly incorporated. (*4) Most of the significant business transactions of associates are with the Group as of December 31, 2017 and 2018. (*5) The Group can participate in decision-making body and exercise significant influence over associates through business partnerships. (*6) The carrying values of investments in associates are nil as of December 31, 2017 and 2018. (*7) Even though the Group’s ownership ratio of the entity was more than 20%, the Group did not have significant influence over the entity because the entity was going through workout process under receivership and thus was excluded from the investment in associates. However, as the workout process was completed for the year ended December 31, 2018, it has been included in the investment in associates. (*8) Due to capital contribution by the Group for the year ended December 31, 2018, the entities has been included in the investment in associates. (*9) The Group lost significant influence over the entity due to the stock consolidation and the capital increase of the associate during the year ended December 31, 2018, and thus the entity was excluded from the list of associates. (*10) The entity was sold after it was transferred to assets held for sale and was excluded from the investment in associates. (*11) The entity was excluded from the associate as the group sold its entire stake during the year ended December 31, 2018. (*12) The Group has entered into a contract whereas the Group (or a third party designated by the Group) obtains a preemptive right to acquire the base assets (Aju Capital Co. Ltd.) of Well to Sea No. 3 Private Equity Fund, an affiliate of the Group, when the Fund disposes them. |
Schedule of changes in carrying value of investments in associates and joint ventures accounted for using equity method [Table Text Block] | (2) Changes in the carrying value of investments in joint ventures and associates accounted for using the equity method of accounting are as follows (Unit: Korean Won in millions): For the year ended December 31, 2016 Acquisition cost January 1, Share of Acquisition (*1) Disposal and (*2) Dividends Change in Impairment December 31, Woori Blackstone Korea Opportunity Private Equity Fund No.1 43,917 56,044 10,093 — (37,036 ) (13,812 ) — — 15,289 Kumho Tire Co., Inc. 175,652 214,050 (13,172 ) — — — (546 ) — 200,332 Woori Service Networks Co., Ltd. 108 139 18 — — (12 ) — — 145 Korea Credit Bureau Co., Ltd. 3,313 5,291 436 — — (135 ) — — 5,592 Korea Finance Security Co., Ltd. 3,266 3,711 (281 ) — — (54 ) — — 3,376 United PF 1st Corporate financial stability 172,441 187,592 3,265 — (190,857 ) — — — — Chin Hung International Inc. 89,725 43,936 (996 ) — — — 92 — 43,032 Poonglim Industrial Co., Ltd. 13,916 5,313 (2,378 ) — — — (2,935 ) — — STX Engine Co., Ltd. 92,038 51,276 (6,665 ) — — — (1,575 ) — 43,036 Samho Co., Ltd. 7,492 14,325 5,392 — — — 12 — 19,729 STX Corporation 42,215 4,251 (4,222 ) — — — (29 ) — — Osung LST Co., Ltd. 15,405 10,985 (2,903 ) — (6,909 ) — — (1,173 ) — Saman Corporation 8,521 8,521 252 — — — (74 ) — 8,699 K-Growth 800 — (13 ) 800 (787 ) — — — — Woori Growth Partnerships New Technology Private Equity Fund 13,602 — (640 ) 13,602 — — 156 — 13,118 2016KIF-IMM 1,800 — — 1,800 — — — — 1,800 K BANK Co.,Ltd. 32,500 — (1,589 ) 32,500 — — (469 ) — 30,442 Woori Renaissance Holdings 63,000 37,121 17,303 — — (2 ) — — 54,422 Woori Columbus First PEF 1,200 1,306 (43 ) — (1,065 ) (198 ) — — — Total 780,911 643,861 3,857 48,702 (236,654 ) (14,213 ) (5,368 ) (1,173 ) 439,012 (*1) AFS financial assets decreased by 5,421 million Won due to transfers to investments in associates during the year ended December 31, 2016. (*2) The transfers from investments in associates to AFS financial assets amounted to 155,220 million Won and the transfers from investments in associates to assets held for sale amounted to 6,909 million Won during the year ended December 31, 2016. For the year ended December 31, 2017 Acquisition January 1, Share of Acquisition (*) Disposal and Dividends Change in Impairment Others (*) December 31, Woori Blackstone Korea Opportunity No.1 Private Equity Fund — 15,289 (4,617 ) — (7,369 ) (3,303 ) — — — — Kumho Tire Co., Inc. 175,652 200,332 (102 ) — — — 1,545 (102,842 ) — 98,933 Woori Service Networks Co., Ltd. 108 145 21 — — (8 ) — — — 158 Korea Credit Bureau Co., Ltd. 3,313 5,592 371 — — (147 ) — — — 5,816 Korea Finance Security Co., Ltd. 3,266 3,376 197 — — (54 ) — — — 3,519 Chin Hung International Inc. 89,725 43,032 (14,375 ) 41,053 — — 1,535 — (26,144 ) 45,101 Poonglim Industrial Co., Ltd. 13,916 — (6,733 ) — — — — — 6,733 — STX Engine Co., Ltd. 92,038 43,036 (1,010 ) — (46,217 ) — 4,191 — — — Samho Co., Ltd. 7,492 19,729 2,021 — (16,354 ) — (73 ) (5,323 ) — — STX Corporation 42,215 — (29,788 ) 8,546 — — 417 — 27,772 6,947 Saman Corporation 8,521 8,699 (733 ) — — — 26 (6,738 ) — 1,254 Woori Growth Partnerships New Technology Private Equity Fund 13,602 13,118 (582 ) 15,729 (498 ) — (156 ) — — 27,611 2016KIF-IMM 1,800 1,800 — 5,040 — — — — — 6,840 K BANK Co., Ltd. 32,500 30,442 (11,381 ) 12,892 — — (245 ) — 27 31,735 Smart Private Equity Fund No.2 3,000 — (68 ) 3,000 — — — — — 2,932 Woori Bank-Company K Korea Movie Asset Fund 1,500 — (43 ) 3,000 — — — — — 2,957 Well to Sea No.3 Private Equity Fund 102,500 — 80,894 102,500 (508 ) — (577 ) — — 182,309 Woori Renaissance Holdings — 54,422 (622 ) — — (57,109 ) — — 3,309 — Nomura-Rifa Private Real Estate Investment Trust No.17 1,000 — (61 ) 1,000 — — — — — 939 592,148 439,012 13,389 192,760 (70,946 ) (60,621 ) 6,663 (114,903 ) 11,697 417,051 (*) Changes in investments in joint ventures and associates due to debt-equity swap is 51,227 million Won. For the year ended December 31, 2018 Acquisition January 1, Share of (losses) Acquisition Disposal and others (*) Dividends Change in Impairment Others December 31, Kumho Tire Co., Inc. 175,652 98,933 (10,451 ) — (83,286 ) — (5,196 ) — — — Woori Service Networks Co., Ltd. 108 158 1 — — (2 ) — — — 157 Korea Credit Bureau Co., Ltd. 3,313 5,816 1,087 — — (113 ) — — — 6,790 Korea Finance Security Co., Ltd. 3,267 3,519 (10 ) — — (54 ) 1 — — 3,456 Chin Hung International Inc. 130,779 45,101 1,206 — — — (1,725 ) — 159 44,741 Poonglim Industrial Co., Ltd. 13,916 — — — — — — — — — STX Corporation 50,760 6,947 (816 ) — (5,865 ) — (266 ) — — — Saman Corporation 8,521 1,254 (98 ) — — — 35 (177 ) — 1,014 Woori Growth Partnerships New Technology Private Equity Fund 25,847 27,611 950 360 (3,346 ) (484 ) — — — 25,091 2016KIF-IMM 15,000 6,840 — 8,160 — — 300 — — 15,300 K BANK Co., Ltd. 67,343 31,735 (10,705 ) 21,951 — — 144 — 584 43,709 Smart Private Equity Fund No.2 3,000 2,932 (42 ) — — — — — — 2,890 Woori Bank-Company K Korea Movie Asset Fund 3,000 2,957 (257 ) — — — — — — 2,700 Well to Sea No.3 Private Equity Fund 101,992 182,309 22,546 — (508 ) (517 ) (6,437 ) — — 197,393 Partner One Value Up Ist Private Equity Fund 10,000 — (52 ) 10,000 — — — — — 9,948 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 4,426 — — 4,426 — — — — — 4,426 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 3,025 — — 3,025 — — — — — 3,025 Nomura-Rifa Private Real Estate Investment Trust No.17 1,000 939 (152 ) — — — — — — 787 Uri Hanhwa Eureka Private Equity Fund 350 — (11 ) 350 — — — — — 339 621,299 417,051 3,196 48,272 (93,005 ) (1,170 ) (13,144 ) (177 ) 743 361,766 (*) Investments in joint ventures and associates decreased by 83,286 million Won through transfers to financial assets at FVTOCI (IFRS 9) which occurred during the year ended December 31, 2018. |
Reconciliation of summarised financial information of associates and joint ventures accounted for using equity method to carrying amount of interest in associates and joint ventures [Table Text Block] | (3) Summary financial information relating to investments in joint ventures and associates accounted for using the equity method of accounting is as follows (Unit: Korean Won in millions): December 31, 2017 Assets Liabilities Operating Net income Kumho Tire Co., Inc. 5,105,107 3,928,327 2,136,569 (61,748 ) Woori Service Networks Co., Ltd. 4,982 1,780 14,887 1,003 Korea Credit Bureau Co., Ltd. 75,504 19,323 68,750 3,580 Korea Finance Security Co., Ltd. 33,915 10,461 55,610 1,071 Chin Hung International Inc. 341,284 259,454 513,285 28,698 Poonglim Industrial Co., Ltd. 241,063 309,925 107,360 (29,812 ) STX Corporation 595,348 543,458 1,371,272 342,869 Saman Corporation 98,435 69,929 76,135 (6,096 ) Woori Growth Partnerships New Technology Private Equity Fund 120,133 485 1,024 (3,199 ) 2016KIF-IMM 32,815 380 6 (1,515 ) K BANK Co., Ltd. 1,244,270 1,001,121 19,231 (74,403 ) Smart Private Equity Fund No.2 14,711 51 1 (340 ) Woori Bank-Company K Korea Movie Asset Fund 11,830 2 16 (172 ) Well to Sea No.3 Private Equity Fund 5,068,424 4,534,957 131,488 162,743 Nomura-Rifa Private Real Estate Investment Trust No.17 20,265 16,507 62 (242 ) December 31, 2018 Assets Liabilities Operating Net income Woori Service Networks Co., Ltd. 5,066 1,886 15,803 819 Korea Credit Bureau Co., Ltd. 88,797 22,788 78,018 9,901 Korea Finance Security Co., Ltd. 35,155 12,114 60,706 17 Chin Hung International Inc. 412,205 332,268 606,192 6,402 Saman Corporation 97,720 69,915 75,825 (869 ) Woori Growth Partnerships New Technology Private Equity Fund 109,167 440 5,943 4,117 2016KIF-IMM 73,231 12 16 (1,510 ) K BANK Co., Ltd. 2,024,856 1,807,502 60,039 (69,256 ) Smart Private Equity Fund No.2 14,502 51 1 (209 ) Woori Bank-Company K Korea Movie Asset Fund 10,805 5 1,663 (299 ) Well to Sea No.3 Private Equity Fund 5,968,591 5,395,307 429,742 39,711 Partner One Value Up Ist Private Equity Fund 42,776 — 326 (224 ) IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 21,200 757 390 (1,268 ) Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 12,014 105 3 (191 ) Nomura-Rifa Private Real Estate Investment Trust No.17 20,197 16,178 10 (228 ) Uri Hanhwa Eureka Private Equity Fund 42,332 181 1 (1,349 ) |
Schedule of investments that were not accounted for using equity method [Table Text Block] | (4) The entities that the Group has not applied equity method of accounting although the Group’s ownership interest is more than 20% as of December 31, 2017 and 2018, are as follows: December 31, 2017 Associate (*) Number of shares owned Ownership (%) Orient Shipyard Co., Ltd. 465,050 21.4 Saenuel Co., Ltd. 3,531 37.4 E Mirae Tech Co., Ltd. 7,696 41.0 Jehin Trading Co., Ltd. 81,610 27.3 The Season Company Co., Ltd. 18,187 30.1 Yuil PESC Co., Ltd. 8,642 24.0 Youngdong Sea Food Co., Ltd. 12,106 24.0 Sinseong Trading Co., Ltd. 2,584 27.2 CL Tech Co., Ltd. 13,759 38.6 Force TEC Co., Ltd. 4,780,907 25.8 Protronics Co., Ltd. 95,921 48.1 Instern Co., Ltd. 14,296 20.1 December 31, 2018 Associate (*) Number of shares owned Ownership (%) Orient Shipyard Co., Ltd. 464,812 21.4 Saenuel Co., Ltd. 3,531 37.4 E Mirae Tech Co., Ltd. 7,696 41.0 Jehin Trading Co., Ltd. 81,610 27.3 The Season Company Co., Ltd. 18,187 30.1 Yuil PESC Co., Ltd. 8,642 24.0 CL Tech Co., Ltd. 13,759 38.6 (*) Even though the Group’s ownership interest of the entity is more than 20%, the Group does not have significant influence over the entity since it is going through work-out |
Reconciliation from net assets of investments in associates and joint ventures accounted for using equity method to book value [Table Text Block] | (5) As of December 31, 2016, 2017 and 2018, the reconciliations from the net assets of associates based on the ownership ratio of the Group to its corresponding book value of investment in joint ventures and associates are as follows (Unit: Korean Won in millions except for ownership): December 31, 2016 Total net Ownership Ownership Basis Impairment Intercompany Book Value Woori Blackstone Korea Opportunity Private Equity Fund No.1 57,544 26.4 15,191 — — 98 15,289 Kumho Tire Co., Inc. (*) 1,055,219 14.2 149,324 48,459 — 2,549 200,332 Woori Service Networks Co., Ltd. 2,940 4.9 145 — — — 145 Korea Credit Bureau 53,923 9.9 5,344 248 — — 5,592 Korea Finance Security Co., Ltd. 22,503 15.0 3,376 — — — 3,376 Chin Hung International Inc. (*) 65,387 28.4 18,593 24,565 — (126 ) 43,032 Poonglim Industrial Co., Ltd. (*) (111,156 ) 31.0 (34,463 ) 54,149 (21,062 ) 1,376 — STX Engine Co., Ltd. 95,784 29.2 28,002 14,954 — 80 43,036 SamHo Co., Ltd. 251,656 7.8 19,729 — — — 19,729 STX Corporation (*) (250,018 ) 9.5 (23,633 ) 24,614 (27,904 ) 26,923 — Saman Corporation 36,205 9.2 3,326 5,373 — — 8,699 Woori Growth Partnerships New Technology Private Equity Fund 56,846 23.1 13,118 — — — 13,118 2016KIF-IMM 8,751 20.0 1,750 — — 50 1,800 K BANK Co.,Ltd. 234,173 13.0 30,442 — — — 30,442 Woori Renaissance Holdings 100,708 51.6 51,965 — (6,441 ) 8,898 54,422 Woori Columbus First PEF 305 2.0 6 — — (6 ) — December 31, 2017 Total net Ownership Ownership Basis Impairment Intercompany Book value Kumho Tire Co., Inc. (*) 1,065,421 14.2 150,767 48,459 (102,843 ) 2,550 98,933 Woori Service Networks Co., Ltd. 3,202 4.9 158 — — — 158 Korea Credit Bureau Co., Ltd. 56,181 9.9 5,568 248 — — 5,816 Korea Finance Security Co., Ltd. 23,454 15.0 3,519 — — — 3,519 Chin Hung International Inc. (*) 81,686 25.3 20,671 24,565 — (135 ) 45,101 Poonglim Industrial Co., Ltd. (*) (168,154 ) 29.4 (49,446 ) 54,542 (20,504 ) 15,408 — STX Corporation 51,890 19.7 10,232 24,614 (27,904 ) 5 6,947 Saman Corporation 28,506 9.2 2,619 5,373 (6,738 ) — 1,254 Woori Growth Partnerships New Technology Private Equity Fund 119,648 23.1 27,611 — — — 27,611 2016KIF-IMM 32,435 20.0 6,487 — — 353 6,840 K BANK Co., Ltd. 243,149 13.0 31,535 — — 200 31,735 Smart Private Equity Fund No.2 14,660 20.0 2,932 — — — 2,932 Woori Bank-Company K Korea Movie Asset Fund 11,828 25.0 2,957 — — — 2,957 Well to Sea No.3 Private Equity Fund (*) 364,909 50.0 182,366 — — (57 ) 182,309 Nomura-Rifa Private Real Estate Investment Trust No.17 3,758 25.0 939 — — — 939 December 31, 2018 Total net Ownership Ownership Basis Impairment Intercompany Book value Woori Service Networks Co., Ltd. 3,180 4.9 157 — — — 157 Korea Credit Bureau Co., Ltd. 66,009 9.9 6,544 246 — — 6,790 Korea Finance Security Co., Ltd. 23,041 15.0 3,456 — — — 3,456 Chin Hung International Inc. (*) 79,793 25.3 20,192 24,565 — (16 ) 44,741 Saman Corporation 27,805 9.2 2,556 5,373 (6,915 ) — 1,014 Woori Growth Partnerships New Technology Private Equity Fund 108,727 23.1 25,091 — — — 25,091 2016KIF-IMM 73,219 20.0 14,644 — — 656 15,300 K BANK Co., Ltd. (*) 290,597 14.1 40,984 2,725 — — 43,709 Smart Private Equity Fund No.2 14,451 20.0 2,890 — — — 2,890 Woori Bank-Company K Korea Movie Asset Fund 10,800 25.0 2,700 — — — 2,700 Well to Sea No.3 Private Equity Fund (*) 396,248 50.0 198,027 — — (634 ) 197,393 Partner One Value Up Ist Private Equity Fund 42,776 23.3 9,948 — — — 9,948 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 20,443 20.0 4,089 — — 337 4,426 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 11,909 25.0 2,977 — — 48 3,025 Nomura-Rifa Private Real Estate Investment Trust No.17 4,019 19.4 780 — — 7 787 Uri Hanhwa Eureka Private Equity Fund 42,151 0.8 339 — — — 339 (*) The net asset amount is after reflecting debt-equity swap and others. |
Investment Properties (Tables)
Investment Properties (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Investment Property [Abstract] | |
Details of investment properties | (1) Details of investment properties are as follows (Unit: Korean Won in millions): December 31, December 31, Acquisition cost 404,741 416,796 Accumulated depreciation (33,440 ) (38,600 ) Net carrying value 371,301 378,196 |
Changes in investment properties | (2) Changes in investment properties are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Beginning balance 351,496 358,497 371,301 Acquisition 4,428 9,872 15,195 Disposal — (458 ) (3,045 ) Depreciation (3,762 ) (3,902 ) (4,045 ) Transfers from(to) premises and equipment 6,314 2,472 7,623 Classified to assets held for sale — (371 ) (10,056 ) Foreign currencies translation adjustments 21 (324 ) (5 ) Others — 5,515 1,228 Ending balance 358,497 371,301 378,196 |
Premises and Equipment (Tables)
Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Property Plant And Equipment [Abstract] | |
Details of premises and equipment | (1) Details of premises and equipment are as follows (Unit: Korean Won in millions): December 31, 2017 Land Building Equipment Leasehold Construction Structures Total Acquisition cost 1,487,278 867,804 1,024,186 429,665 64,559 20 3,873,512 Accumulated depreciation — (186,958 ) (844,114 ) (364,878 ) — (17 ) (1,395,967 ) Net carrying value 1,487,278 680,846 180,072 64,787 64,559 3 2,477,545 December 31, 2018 Land Building Equipment Leasehold Construction Structures Total Acquisition cost 1,481,871 872,282 1,031,431 446,264 9,099 20 3,840,967 Accumulated depreciation — (210,370 ) (791,418 ) (388,670 ) — (17 ) (1,390,475 ) Net carrying value 1,481,871 661,912 240,013 57,594 9,099 3 2,450,492 |
Changes in premises and equipment | (2) Details of changes in premises and equipment are as follows (Unit: Korean Won in millions): For the year ended December 31, 2016 Land Building Equipment Leasehold Construction Structures Total Beginning balance 1,493,628 704,017 193,291 79,744 522 4 2,471,206 Acquisition — 15,939 74,336 19,615 21,231 — 131,121 Disposal (30 ) (1,474 ) (233 ) (2,623 ) (102 ) — (4,462 ) Depreciation — (24,887 ) (82,445 ) (48,587 ) — — (155,919 ) Classified to assets held for sale (4,063 ) (251 ) — — — — (4,314 ) Foreign currencies translation adjustment 625 516 307 376 153 — 1,977 Acquisition through business combination — — 209 442 — — 651 Transfer (1,415 ) (1,557 ) — — (3,087 ) — (6,059 ) Others — (604 ) 4,437 19,991 — — 23,824 Ending balance 1,488,745 691,699 189,902 68,958 18,717 4 2,458,025 For the year ended December 31, 2017 Land Building Equipment Leasehold Construction Structures Total Beginning balance 1,488,745 691,699 189,902 68,958 18,717 4 2,458,025 Acquisitions 4,755 22,579 59,694 23,420 51,797 — 162,245 Disposals (1,840 ) (2,593 ) (442 ) (1,231 ) — — (6,106 ) Depreciation — (26,156 ) (74,223 ) (31,728 ) — (1 ) (132,108 ) Classified to assets held for sale (2,693 ) (1,059 ) 549 — — — (3,203 ) Transfer (196 ) (2,134 ) 5,411 — (5,553 ) — (2,472 ) Foreign currencies translation adjustments (1,493 ) (1,393 ) (2,023 ) (1,315 ) (402 ) — (6,626 ) Others — (97 ) 1,204 6,683 — — 7,790 Ending balance 1,487,278 680,846 180,072 64,787 64,559 3 2,477,545 For the year ended December 31, 2018 Land Building Equipment Leasehold Construction Structures Total Beginning balance 1,487,278 680,846 180,072 64,787 64,559 3 2,477,545 Acquisitions 1,372 14,701 76,783 17,527 8,285 — 118,668 Disposals (29 ) — (5,192 ) (737 ) (187 ) — (6,145 ) Depreciation — (26,014 ) (76,171 ) (32,162 ) — — (134,347 ) Classified to assets held for sale (3,651 ) (2,592 ) — — — — (6,243 ) Transfer (2,863 ) (4,760 ) 63,432 — (63,432 ) — (7,623 ) Foreign currencies translation adjustments (236 ) (257 ) (69 ) 323 (126 ) — (365 ) Acquisition through business combination — — 969 661 — — 1,630 Others — (12 ) 189 7,195 — — 7,372 Ending balance 1,481,871 661,912 240,013 57,594 9,099 3 2,450,492 |
Intangible assets (Tables)
Intangible assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Intangible Assets [Abstract] | |
Details of intangible assets and goodwill | (1) Details of intangible assets are as follows (Unit: Korean Won in millions): December 31, 2017 Goodwill Software Industrial rights Development Others Membership Construction Total Acquisition cost 108,707 203,418 1,063 260,087 634,150 27,337 153,209 1,387,971 Accumulated amortization — (162,746 ) (524 ) (182,846 ) (516,467 ) — — (862,583 ) Accumulated impairment losses — — — — (137 ) (6,652 ) — (6,789 ) Net carrying value 108,707 40,672 539 77,241 117,546 20,685 153,209 518,599 December 31, 2018 Goodwill Software Industrial property Development Others Membership Construction Total Acquisition cost 153,602 156,109 1,258 469,226 729,052 27,025 10,415 1,546,687 Accumulated amortization — (126,382 ) (696 ) (228,906 ) (589,618 ) — — (945,602 ) Accumulated impairment losses — — — — (137 ) (3,428 ) — (3,565 ) Net carrying value 153,602 29,727 562 240,320 139,297 23,597 10,415 597,520 |
Changes in intangible assets | (2) Details of changes in intangible assets are as follows (Unit: Korean Won in millions): For the year ended December 31, 2016 Goodwill Software Industrial rights Development (*) Others Membership Total Beginning balance 103,525 38,171 344 51,357 201,769 24,640 419,806 Acquisition — 8,708 64 92,969 30,842 2,306 134,889 Disposal — — — — (23 ) (3,785 ) (3,808 ) Amortization — (15,795 ) (95 ) (18,657 ) (57,803 ) — (92,350 ) Impairment losses — — — — 3,230 (1,585 ) 1,645 Foreign currencies translation adjustment 7,338 16 — — 853 50 8,257 Acquisition through business combination 7,857 162 — — — 43 8,062 Others 6,083 4,215 — 13,027 (14,504 ) (1,583 ) 7,238 Ending balance 124,803 35,477 313 138,696 164,364 20,086 483,739 (*) Development cost includes the amount of Construction in progress. For the year ended December 31, 2017 Goodwill Software Industrial rights Development Others Membership Construction Total Beginning balance 124,803 35,477 313 70,697 164,364 20,086 67,999 483,739 Acquisitions 105 9,722 349 29,133 22,531 1,867 93,716 157,423 Disposal — — — — (37 ) (944 ) — (981 ) Amortization (*) — (16,258 ) (123 ) (22,534 ) (60,869 ) — — (99,784 ) Impairment loss — — — — (78 ) (159 ) — (237 ) Transfer — 7,987 — — — — (7,987 ) — Foreign currencies translation adjustment (16,201 ) (952 ) — 36 (2,742 ) (160 ) (519 ) (20,538 ) Others — 4,696 — (91 ) (5,623 ) (5 ) — (1,023 ) Ending balance 108,707 40,672 539 77,241 117,546 20,685 153,209 518,599 (*) Amortization of other intangible assets amounting to 48,292 million Won is included in other operating expenses. For the year ended December 31, 2018 Goodwill Software Industrial rights Development Others Membership Construction Total Beginning balance 108,707 40,672 539 77,241 117,546 20,685 153,209 518,599 Acquisitions — 6,839 195 20,935 45,205 5,162 97,067 175,403 Disposal — (4,359 ) — — (196 ) (2,871 ) — (7,426 ) Amortization (*) — (14,028 ) (172 ) (46,045 ) (73,913 ) — — (134,158 ) Reversal of impairment loss — — — — — 674 — 674 Transfer — — — 188,189 51,672 — (239,861 ) — Acquisition through business combination 46,752 763 — — — — — 47,515 Foreign currencies translation adjustment (1,857 ) (165 ) — — (227 ) (53 ) — (2,302 ) Others — 5 — — (790 ) — — (785 ) Ending balance 153,602 29,727 562 240,320 139,297 23,597 10,415 597,520 (*) Amortization of other intangible assets amounting to 51,770 million Won is included in other operating expenses. |
Assets Held for sale (Tables)
Assets Held for sale (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Assets or disposal groups classified as held for sale or as held for distribution to owners [Abstract] | |
Details of assets held for sale | Assets held for sale are as follows (Unit: Korean Won in millions): December 31, December 31, Investments in joint ventures and associates 46,217 — Premises and equipment, etc. (*) 2,407 17,912 Total 48,624 17,912 (*) The Group classified premises and equipment that are highly likely to be sold within one year as assets held for sale. |
Assets Subject to Lien and As_2
Assets Subject to Lien and Assets Acquired Through Foreclosures (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Collateral [Abstract] | |
Assets subjected to lien | (1) Assets subjected to lien are as follows (Unit: Korean Won in millions): December 31, 2017 Collateral given to Amount Reason for collateral Loan and receivables Due from banks on time in local currency Bank of China and others 6,629 Collaterals for issuing letter of guarantee and others Due from banks in local currencies Samsung Securities Co., Ltd. and others 10,809 Margin deposit for futures or option Due from banks in foreign currencies Korea Investment & Securities Co., Ltd. and others 9,136 Foreign margin deposit for future or option and others Financial assets at FVTPL Korean financial institutions’ debt securities and others Yuanta Securities Co., Ltd. and others 501,523 Substitute securities and others AFS financial assets Korean treasury and corporate bonds Korea Securities Depository and others 9,998 Related to bonds sold under repurchase agreements (*) Korean treasury and government bonds and others The BOK and others 1,570,608 Settlement risk and others HTM financial assets Korean treasury and government bonds Korea Securities Depository 5,436 Related to bonds sold under repurchase agreements (*) Korean financial institutions’ debt securities and others The BOK and others 7,605,292 Settlement risk and others Premises and equipment Land and building Credit Counselling & Recovery Service and others 6,186 Leasehold rights and others Total 9,725,617 December 31, 2018 Collateral given to Amount Reason for collateral Loan at amortized cost and other financial assets Due from banks on time in local currency Daishin AMC and others 1,500 Right of pledge Due from banks in local currencies Samsung Securities Co., Ltd. and others 38,112 Margin deposit for futures or option Due from banks in foreign currencies Korea Investment & Securities Co., Ltd. and others 202,156 Foreign margin deposit for future or option and others Financial assets at FVTOCI Korean financial institutions’ debt securities and others The BOK and others 2,919,042 Settlement risk and others Korean financial institutions’ debt securities Banco Bilbao Vizcaya Argentaria, S.A 33,588 Related to bonds sold under repurchase agreements (*) Securities at amortized cost Korean treasury and government bonds Korea Securities Depository 5,552 Related to bonds sold under repurchase agreements (*) Korean treasury and government bonds and others The BOK and others 6,382,188 Settlement risk and others Premises and equipment Land and building Credit Counselling & Recovery Service and others 5,987 Right to collateral and others Total 9,588,125 (*) The Group has the agreements to repurchase the sold assets at the predetermined price or the price that includes the rate of return and to provide the guarantee on the assets. The transferee has the right to sell or to provide as guarantee. Therefore, the Group does not derecognize the assets, but recognizes the relevant amounts as liability (bonds sold under repurchase agreements). |
Assets acquired through foreclosure | (2) There is no carrying amount of assets acquired through foreclosure of December 31, 2018 and the carrying amounts of assets acquired through foreclosure of December 31, 2017 are as follows. (Unit: Korean Won in millions): December 31, Land 332 Buildings 44 Total 376 |
Schedule of securities lent | (3) Securities loaned are as follows (Unit: Korean Won in millions): December 31, December 31, Loaned to Financial assets at FVTOCI Korean financial institutions’ debt securities and others — 40,029 Korea Securities Finance Corporation AFS financial assets Korean treasury, government bonds and others 170,256 — Korea Securities Finance Corporation and others Total 170,256 40,029 |
Fair values of collaterals held that can be disposed and re-subjected to lien regardless of defaults of counterparties | (4) Collaterals held that can be disposed and re-subjected Fair values of collaterals held that can be disposed and re-subjected December 31, 2017 Fair values of collaterals Fair values of collaterals were disposed or re-subjected Securities 17,671,490 — December 31, 2018 Fair values of collaterals Fair values of collaterals were disposed re-subjected Securities 12,262,041 — |
Other Assets (Tables)
Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Miscellaneous assets [Abstract] | |
Details of other assets | Details of other assets are as follows (Unit: Korean Won in millions): December 31, December 31, Prepaid expenses 130,245 161,129 Advance payments 18,363 18,467 Assets for non-business 376 — Others 9,420 18,057 Total 158,404 197,653 |
Financial Liabilitiy at Fair _2
Financial Liabilitiy at Fair Value Through Profit or Loss (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Financial liabilities at fair value through profit or loss [Abstract] | |
Details of financial liabilities at fair value through profit or loss | (1) Financial liabilities at FVTPL are as follows (Unit: Korean Won in millions): December 31, December 31, Financial liabilities at fair value through profit or loss mandatorily measured at fair value — 2,117,919 Financial liabilities held for trading 3,176,113 — Financial liabilities at fair value through profit or loss designated as upon initial recognition — 164,767 Financial liabilities designated as at FVTPL 251,796 — Total 3,427,909 2,282,686 |
Details of financial liabilities at fair value through profit or loss mandatorily measured at fair value and financial liabilities held for trading | (2) Financial liabilities at fair value through profit or loss mandatorily measured at fair value (Financial liabilities held for trading) are as follows (Unit: Korean Won in millions): December 31, December 31, Deposits Gold banking liabilities 25,964 27,058 Derivative liabilities 3,150,149 2,090,861 Total 3,176,113 2,117,919 |
Details of financial liabilities at fair value through profit or loss designated as upon initial recognition and financial liabilities designated at fair value through profit or loss | (3) Financial liabilities at fair value through profit or loss designated as upon initial recognition (Financial liabilities designated as at FVTPL) are as follows (Unit: Korean Won in millions): December 31, December 31, Equity-linked securities index Equity-linked securities index in short position 160,057 164,767 Debentures Debentures in local currency 91,739 — Total 251,796 164,767 |
Differences between carrying amount and maturity amount of financial liabilities at fair value through profit or loss designated as upon initial recognition | (5) The difference between carrying amount and maturity amount of financial liabilities at fair value through profit or loss designated as upon initial recognition (Financial liabilities designated as at FVTPL) are as follows (Unit: Korean Won in millions): December 31, December 31, Carrying amount 251,796 164,767 Nominal amount at maturity 255,408 217,280 Difference (3,612 ) (52,513 ) |
Deposits Due to Customers (Tabl
Deposits Due to Customers (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Deposits from customers [Abstract] | |
Details of deposits sorted by interest type | Details of deposits due to customers by type are as follows (Unit: Korean Won in millions): December 31, December 31, Deposits in local currency: Deposits on demand 9,349,070 11,076,417 Deposits at termination 194,292,679 204,051,570 Mutual installment 34,055 30,783 Deposits on notes payables 1,323,679 1,891,556 Deposits on CMA 164,431 137,316 Customer deposit for security investment 50,000 30,000 Certificate of deposits 4,436,443 6,510,571 Other deposits 1,401,841 1,409,505 Sub-total 211,052,198 225,137,718 Deposits in foreign currency: Deposits in foreign currencies 23,682,896 23,626,234 Present value discount (40,010 ) (73,013 ) Total 234,695,084 248,690,939 |
Borrowings and Debentures (Tabl
Borrowings and Debentures (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Borrowings [Abstract] | |
Details of borrowings | (1) Details of borrowings are as follows (Unit: Korean Won in millions): December 31, 2017 Lenders Interest Amount Borrowings in local currency: Borrowings from The BOK The BOK 0.5 ~ 0.8 1,404,087 Borrowings from government funds Small Enterprise And Market Service and others 0.0 ~ 2.9 1,723,340 Others The Korea Development Bank and others 0.0 ~ 3.2 3,957,421 Sub-total 7,084,848 Borrowings in foreign currencies: Borrowings in foreign currencies The Export-Import Bank of Korea and others 0.0 ~ 6.8 6,996,551 Offshore borrowings in foreign currencies Commonwealth Bank 1.8 28,285 Sub-total 7,024,836 Bills sold Others 0.0 ~ 1.2 36,953 Call money Bank and others 1.5 ~ 2.7 635,061 Bonds sold under repurchase agreements Other financial institutions 0.6 ~ 12.7 3,173 Present value discount (165 ) Total 14,784,706 December 31, 2018 Lenders Interest Amount Borrowings in local currency: Borrowings from The BOK The BOK 0.5 ~ 0.8 1,335,459 Borrowings from government funds Small Enterprise And Market Service and others 0.0 ~ 3.5 1,771,379 Others The Korea Development Bank and others 0.0 ~ 4.0 4,716,231 Sub-total 7,823,069 Borrowings in foreign currencies: Borrowings in foreign currencies The Export-Import Bank of Korea and others 0.0 ~ 7.5 7,308,857 Offshore borrowings in foreign currencies JPMORGAN CHASE BANK 2.9 33,543 Sub-total 7,342,400 Bills sold Others 0.0 ~ 1.8 19,336 Call money Bank and others 0.0 ~ 7.3 975,358 Bonds sold under repurchase agreements Other financial institutions 0.8 ~ 12.7 42,907 Present value discount (84 ) Total 16,202,986 |
Schedule of debentures [Table Text Block] | (2) Details of debentures are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 Interest Amount Interest Amount Face value of bond (*) Ordinary bonds 1.5 ~ 5.8 22,468,908 1.6 ~ 4.5 22,432,183 Subordinated bonds 3.4 ~ 12.6 4,781,301 3.0 ~ 12.6 5,358,838 Other bonds 1.6 ~ 17.0 649,615 1.9 ~ 17.0 974,230 Sub-total 27,899,824 28,765,251 Discounts on bonds (30,173 ) (29,389 ) Total 27,869,651 28,735,862 (*) Includes debentures under fair value hedge amounting to 3,089,751 million Won and 2,956,565 million Won as of December 31, 2017 and 2018, respectively. Also, debentures under cash flow hedge amounting to 694,548 million Won and 823,219 million Won are included as of December 31, 2017 and 2018, respectively. |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Provisions [Abstract] | |
Details of provisions | (1) Details of provisions are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 Asset retirement obligation 61,872 67,200 Provisions for guarantees (*1) 183,247 89,761 Provisions for unused loan commitments 66,115 121,535 Provisions for customer reward credits 40,445 49,180 Other provisions (*2) 58,791 63,637 Total 410,470 391,313 (*1) Provisions for guarantees include provision for financial guarantee of 71,697 million Won and 47,817 million Won as of December 31, 2017 and 2018, respectively. (*2) Other provisions consist of provision for litigation and others. |
Changes in provisions on guarantees | 1) Provisions for guarantees For the year ended December 31 2016 2017 Beginning balance 364,141 238,117 Provisions provided 4,281 4,876 Provisions used and others (80,017 ) (24,898 ) Reversal of unused amount (64,061 ) (60,300 ) Foreign currencies translation adjustments — 9 Others 13,773 25,443 Ending balance 238,117 183,247 For the year ended December 31, 2018 Stage 1 Stage 2 Stage 3 Total Beginning balance (*1) 47,132 18,281 127,511 192,924 Replaced with 12-month 92 (92 ) — — Replaced with expected credit loss for the entire period (237 ) 91,008 (90,771 ) — Replaced with credit-impaired financial assets (38 ) (29 ) 67 — Provisions used (20,429 ) — — (20,429 ) Net reversal of unused amount (4,866 ) (75,410 ) (25,709 ) (105,985 ) Others (*2) 23,249 2 — 23,251 Ending balance 44,903 33,760 11,098 89,761 (*1) The beginning balance was restated in accordance with IFRS 9. (*2) This is the effect of new financial guarantee contracts that are initially measured at fair value. |
Changes in provisions on loan commitments | 2) Provisions for unused loan commitment For the year ended December 31 2016 2017 Beginning balance 85,313 87,909 Provisions provided 8,502 2,028 Provisions used and others 22 (68 ) Reversal of unused amount (5,409 ) (23,744 ) Foreign currencies translation adjustments and others (519 ) (10 ) Ending balance 87,909 66,115 For the year ended December 31, 2018 Stage 1 Stage 2 Stage 3 Total Beginning balance (*) 75,232 27,875 1,878 104,985 Replaced with 12-month 7,770 (7,396 ) (374 ) — Replaced with expected credit loss for the entire period (2,376 ) 2,525 (149 ) — Replaced with credit-impaired financial assets (213 ) (1,579 ) 1,792 — Net provision(reversal) of unused amount (5,813 ) 23,860 (1,521 ) 16,526 Others 24 — — 24 Ending balance 74,624 45,285 1,626 121,535 (*) The beginning balance was restated in accordance with IFRS 9. |
Changes in asset retirement obligation | (3) Changes in asset retirement obligation are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Beginning balance 39,121 58,076 61,872 Provisions provided 2,034 2,225 1,489 Provisions used (1,279 ) (1,283 ) (913 ) Reversal of provisions unused 464 (733 ) (1,038 ) Amortization (1 ) 428 564 Increase in restoration costs and others 17,737 3,159 5,226 Ending balance 58,076 61,872 67,200 |
Changes in other obligation | (4) Changes in other provisions are as follows (Unit: Korean Won in millions): For the years ended December 31, 2016 Provisions for reward credits Other provisions Total Beginning balance 5,445 22,581 28,026 Provisions provided 23,525 8,034 31,559 Provisions used and others (8,158 ) (11,323 ) (19,481 ) Reversal of unused amount — — — Foreign currencies translation adjustments — 2,990 2,990 Transfer (*) 503 — 503 Others 778 — 778 Ending balance 22,093 22,282 44,375 For the years ended December 31, 2017 Provisions for Other provisions Total Beginning balance 22,093 22,282 44,375 Provisions provided 62,593 42,042 104,635 Provisions used (84,979 ) (8,014 ) (92,993 ) Reversal of unused amount — (77 ) (77 ) Foreign currencies translation adjustments — (249 ) (249 ) Transfer (*) 21,808 — 21,808 Others 18,930 2,807 21,737 Ending balance 40,445 58,791 99,236 For the year ended December 31, 2018 Provisions for customer Other provisions Total Beginning balance 40,445 58,791 99,236 Provisions provided 70,138 8,384 78,522 Provisions used (98,170 ) (6,940 ) (105,110 ) Reversal of unused amount — (52 ) (52 ) Foreign currencies translation adjustments — (194 ) (194 ) Transfer (*) 9,228 — 9,228 Others 27,539 3,648 31,187 Ending balance 49,180 63,637 112,817 (*) As the credits of the affiliates were transferred to the Group, the allowance for the provisions for customer reward credits increased for the years ended December 31, 2016. 2017 and 2018, respectively. |
Net Defined Benefits Liabilit_2
Net Defined Benefits Liability (Asset) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of defined benefit plans [Abstract] | |
Details of net defined benefit liability | (1) Details of net defined benefit liability are as follows (Unit: Korean Won in millions): December 31, December 31, Present value of defined benefit obligation 1,071,170 1,275,020 Fair value of plan assets (1,027,906 ) (1,101,911 ) Net defined benefit liability 43,264 173,109 |
Changes in the carrying value of defined benefit obligation | (2) Changes in the carrying value of defined benefit obligation are as follows (Unit: Korean Won in millions): For the year ended December 31 2016 2017 2018 Beginning balance 901,219 984,381 1,071,170 Current service cost 153,660 146,750 144,394 Interest cost 24,326 26,629 32,143 Remeasurements (52,402 ) (20,389 ) 100,854 Foreign currencies translation adjustments 80 (279 ) (3 ) Retirement benefit paid (34,346 ) (55,552 ) (74,952 ) Curtailment or settlement (9,536 ) (10,928 ) — Others 1,380 558 1,414 Ending balance 984,381 1,071,170 1,275,020 |
Changes in the plan assets | (3) Changes in the plan assets are as follows (Unit: Korean Won in millions): For the year ended December 31 2016 2017 2018 Beginning balance 801,528 990,653 1,027,906 Interest income 25,038 30,601 33,825 Remeasurements (7,304 ) (14,125 ) (14,783 ) Employer’s contributions 226,752 43,114 128,926 Retirement benefit paid (33,341 ) (51,877 ) (71,672 ) Curtailment or settlement (9,198 ) (11,052 ) — Others (12,822 ) 40,592 (2,291 ) Ending balance 990,653 1,027,906 1,101,911 |
Current service cost, net interest income, loss (gain) on the curtailment or settlement and remeasurements | (5) Current service cost, net interest income, loss (gain) on the curtailment or settlement and remeasurements recognized in the consolidated statements comprehensive income are as follows (Unit: Korean Won in millions): For the year ended December 31 2016 2017 2018 Current service cost 153,660 146,750 144,394 Net interest income (712 ) (3,972 ) (1,682 ) Loss on the curtailment or settlement (339 ) 124 — Cost recognized in net income 152,609 142,902 142,712 Remeasurements (45,098 ) (6,264 ) 115,637 Cost recognized in total comprehensive income 107,511 136,638 258,349 |
Key actuarial assumptions used in net defined benefit liability measurement | (6) Key actuarial assumptions used in net defined benefit liability measurement are as follows: December 31, 2016 December 31, 2017 December 31, 2018 Discount rate 2.85% 3.18% 2,69% Future wage growth rate 6.05% 6.18% 6.18% Mortality rate Issued by Korea Insurance Development Institute Issued by Korea Insurance Development Institute Issued by Korea Insurance Development Institute Retirement rate Experience rate for each employment classification Experience rate for each employment classification Experience rate for each employment classification The weighted average maturity of defined benefit liability is 8.05 ~ 13.21 years. |
Sensitivity to actuarial assumptions used in the assessment of defined benefit obligation | (7) The sensitivity to actuarial assumptions used in the assessment of defined benefit obligation is as follows (Unit: Korean Won in millions): December 31, 2017 (*) December 31, 2018 (*) Discount rate Increase by 1% point (116,405 ) (116,812 ) Decrease by 1% point 137,151 136,990 Future wage growth rate Increase by 1% point 136,707 135,767 Decrease by 1% point (117,765 ) (118,020 ) (*) The above sensitivity analyses are based on a change in an assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated. The sensitivity of the defined benefit obligation to changes in principal actuarial assumptions is calculated using the projected unit credit method, the same method applied when calculating the defined benefit obligations recognized on the statement of financial position. |
Other Financial Liabilities a_2
Other Financial Liabilities and Other Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Miscellaneous Liabilities [Abstract] | |
Schedule of miscellaneous other liabilities [Table Text Block] | Other financial liabilities and other liabilities are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 Other financial liabilities: Accounts payable 4,692,320 5,409,268 Accrued expenses 2,049,861 2,224,330 Borrowings from trust accounts 3,271,817 3,747,492 Agency business revenue 344,591 396,735 Foreign exchange payables 590,667 539,554 Domestic exchange settlement credits 1,309,646 7,134,966 Other miscellaneous financial liabilities 1,635,156 1,992,663 Present value discount (1,597 ) (2,484 ) Sub-total 13,892,461 21,442,524 Other liabilities: Unearned income 180,664 204,034 Other miscellaneous liabilities 103,317 142,044 Sub-total 283,981 346,078 Total 14,176,442 21,788,602 |
Derivatives (Tables)
Derivatives (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of detailed information about hedges [Abstract] | |
Details of derivative assets and derivative liabilities | (1) Derivative assets and derivative liabilities are as follows (Unit: Korean Won in millions): December 31, 2017 Assets Liabilities Nominal amount For fair hedge For trading For cash flow For fair value hedge For trading Interest rate: Futures 75,845 — — — — — Swaps 130,197,378 59,272 223,935 — 12,103 253,972 Purchase options 630,000 — 12,346 — — — Written options 795,000 — — — — 12,869 Currency: Futures 318,217 — — — — — Forwards 72,526,956 — 1,314,368 — — 1,375,799 Swaps 48,176,306 — 1,352,924 55,651 — 1,347,905 Purchase options 2,291,154 — 64,267 — — — Written options 4,038,237 — — — — 58,687 Equity: Futures 91,436 — — — — — Swaps 15,000 — 103 — — 10 Purchase options 5,060,706 — 146,775 — — — Written options 4,504,290 — — — — 99,770 Others: Futures — — — — — — Swaps 7,805 — 1,056 — — 1,037 Purchase options — — — — — — Written options 5,000 — — — — 100 Total 268,733,330 59,272 3,115,774 55,651 12,103 3,150,149 December 31, 2018 Assets Liabilities Nominal amount For fair hedge For trading For cash flow For fair value hedge For trading Interest rate: Futures — — — — — — Swaps 150,710,490 35,503 218,140 665 17,654 266,207 Purchase options 530,000 — 10,461 — — — Written options 525,000 — — — — 12,438 Currency: Futures 320,213 — — — — — Forwards 88,376,776 — 843,621 — — 777,039 Swaps 67,179,195 — 761,907 33,089 — 773,701 Purchase options 1,933,454 — 17,544 — — — Written options 3,134,774 — — — — 20,747 Equity: Futures 186,737 — — — — — Swaps 441,573 — 31,377 — — 1,217 Purchase options 4,925,315 — 143,029 — — — Written options 6,145,935 — — — — 239,512 Total 324,409,462 35,503 2,026,079 33,754 17,654 2,090,861 |
Details of nominal amounts of the hedging instrument | (3) The nominal amounts of the hedging instrument as of December 31, 2018 are as follows (Unit: USD, SGD and Korean Won in millions): 1 year or less 1 year to 5 More than 5 Total Fair value hedge Interest rate risk Interest rate swap(USD) — 1,350,000,000 1,300,000,000 2,650,000,000 Cash flow hedge Interest rate risk Interest rate swap(KRW) — 100,000 — 100,000 Foreign currencies translation risk and interest rate risk Currency swap(USD) 50,000,000 450,000,000 — 500,000,000 Foreign currencies translation risk Currency swap(SGD) — 204,000,000 — 204,000,000 |
Details of average interest rate and average currency rate of the hedging instrument | (4) The average interest rate and average currency rate of the hedging instrument as of December 31, 2018 are as follows: Average interest rate and average currency rate Fair value hedge Interest rate risk Interest rate swaps(USD) Fixed 3.96% receipt and Libor 3M+1.61% floating paid Fixed 5.88% receipt and Libor 6M+2.15% floating paid Cash flow hedge Interest rate risk Interest rate swap(KRW) KRW 3Y CMS+0.395% receipt, KRW 2.38% paid Foreign currencies translation risk and interest rate risk Currency swap(USD) USD 3M Libor+0.7% receipt, KRW 1.74% paid, USD/KRW = 1,136 USD 1M Libor+0.517% receipt, KRW 1.70% paid, USD/KRW = 1,178 Foreign currencies translation risk Currency swap(SGD) SGD 1.91% receipt, KRW 1.98% paid, SGD/KRW = 828 |
Details of amounts related to items designated as heding instruments | (5) The amounts related to items designated as hedging instruments as of December 31, 2018 are as follows (Unit: USD, SGD and Korean Won in millions): Nominal amounts of Carrying amounts of the hedging instrument Line item in the Changing in fair Assets Liabilities Fair value hedge Interest rate risk Interest rate swaps(USD) 2,650,000,000 35,503 17,654 Derivative assets (Designated for hedging) Derivative liabilities (Designated for hedging) (27,362 ) Cash flow hedge Interest rate risk Interest rate swap(KRW) 100,000 — 665 Derivative liabilities (Designated for hedging) (665 ) Foreign currencies translation risk and interest rate risk Currency swap (USD) 500,000,000 — 28,907 Derivative liabilities (Designated for hedging) 21,582 Foreign currencies translation risk Currency swap (SGD) 204,000,000 — 4,182 Derivative liabilities (Designated for hedging) 2,353 |
Details of carrying amount to hedge and amount due to hedge accounting | (6) Details of carrying amount to hedged and amount adjusted due to hedge accounting as of December 31, 2018 are as follows (Unit: Korean won in millions): Carrying amounts of the Accumulated amount of fair Line item in the Changing in Cash flow reserve (*) Assets Liabilities Assets Liabilities Fair value hedge Interest rate risk Debenture — 2,956,565 — 5,200 Debentures 25,498 — Cash flow hedge Interest rate risk Debenture — 99,911 — — Debentures 521 (371 ) Foreign currencies translation risk and interest rate risk Debenture — 557,186 — — Debentures (16,790 ) (1,211 ) Foreign currencies translation risk Debenture — 166,122 — — Debentures (1,762 ) (2,287 ) (*) After tax amount |
Details of amounts recognized in profit or loss due to the ineffective portion of fair value hedges | (7) Amounts recognized in profit or loss due to the ineffective portion of fair value hedges during the current period are as follows (Unit: Korean Won in millions): Hedge ineffectiveness Line item in the profit that Fair value hedge Interest rate risk (1,864 ) Other net operating income |
Details of reclassification of profit or loss from other comprehensive income and equity related to cash flow hedges | (8) Reclassification of profit or loss from other comprehensive income and equity related to cash flow hedges is as follows (Unit: Korean Won in millions): Changes in Hedge Changes Line item in Amounts Line item Cash flow hedge Interest rate risk (517 ) (148 ) — Other net — Other net Foreign currencies translation risk and interest rate risk 21,429 153 (882 ) Other net (expense) (23,084 ) Other net Foreign currencies translation risk 2,353 — (491 ) Other net (3,601 ) Other net |
Deferred Day 1 Profit or Loss (
Deferred Day 1 Profit or Loss (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Deferred Day One Profit Or Loss [Abstract] | |
Changes in deferred day one profits or losses [Table Text Block] | Changes in deferred day 1 profits or losses are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Beginning balance 28,008 13,422 7,416 New transactions 1,337 500 23,678 Amounts recognized in losses (15,923 ) (6,506 ) (5,631 ) Ending balance 13,422 7,416 25,463 |
Capital Stock and Capital Sur_2
Capital Stock and Capital Surplus (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Issued Capital And Miscellaneous Equity [Abstract] | |
Number of authorized shares and others | (1) The number of shares authorized and others are as follows: December 31, 2017 December 31, 2018 Shares of common stock authorized 5,000,000,000 Shares 5,000,000,000 Shares Par value 5,000 Won 5,000 Won Shares of common stock issued 676,000,000 Shares 676,000,000 Shares Capital stock 3,381,392 million Won 3,381,392 million Won |
Disclosure of issued capital and capital surplus [Table Text Block] | (3) Details of capital surplus are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 Capital in excess of par value 269,533 269,533 Other capital surplus 16,347 16,356 Total 285,880 285,889 |
Hybrid Securities (Tables)
Hybrid Securities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of other equity interest [Abstract] | |
Schedule of other equity interest [Table Text Block] | The bond-type hybrid securities classified as owner’s equity are as follows (Unit: Korean Won in millions): Issue date Maturity Interest December 31, December 31, Securities in local currency June 20, 2008 June 20, 2038 7.7 255,000 — April 25, 2013 April 25, 2043 4.4 500,000 500,000 November 13, 2013 November 13, 2043 5.7 200,000 200,000 December 12, 2014 December 12, 2044 5.2 160,000 160,000 June 3, 2015 June 3, 2045 4.4 240,000 240,000 July 26, 2018 — 4.4 — 400,000 Securities in foreign currencies June 10, 2015 June 10, 2045 5.0 559,650 559,650 September 27, 2016 — 4.5 553,450 553,450 May 16, 2017 — 5.3 562,700 562,700 Issuance cost (12,912 ) (13,837 ) Total 3,017,888 3,161,963 |
Other Equity (Tables)
Other Equity (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Other Equity [Abstract] | |
Details of other equity | (1) Details of other equity are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 Accumulated other comprehensive loss: Net loss on valuation of financial assets at FVTOCI — (87,182 ) Gain on valuation of AFS financial assets 301,930 — Gain on financial liabilities at FVTPL (IFRS 9) designated as upon initial recognition due to own credit risk — — Share of other comprehensive gain (loss) of joint ventures and associates (1,251 ) 302 Loss on foreign currency translation of foreign operations (242,700 ) (244,735 ) Remeasurement loss related to defined benefit plan (152,624 ) (236,726 ) Gain (loss) on valuation of derivatives designated as cash flow hedges 777 (3,869 ) Other comprehensive income related to assets held for sale 4,145 — Sub-total (89,723 ) (572,210 ) Treasury shares (34,113 ) (34,113 ) Other capital adjustments (*) (1,815,438 ) (1,607,647 ) Total (1,939,274 ) (2,213,970 ) (*) Other capital adjustments include gain or loss on capital transactions that was recognized in 2014 as a result of the merger of Woori Bank and Woori Finance Holdings Co., Ltd. |
Changes in the accumulated other comprehensive income or loss | (2) Changes in the accumulated other comprehensive loss, net of tax, are as follows (Unit: Korean Won in millions): For the year ended December 31, 2016 Beginning Increase Reclassification (*) Income tax Ending balance Gain (loss) on valuation of AFS financial assets 374,685 114,617 (101,647 ) (674 ) 386,981 Share of other comprehensive income (loss) of joint ventures and associates 6,074 (9,274 ) — 1,337 (1,863 ) Gain (loss) on foreign currency translation of foreign operations (70,789 ) 30,368 — (7,932 ) (48,353 ) Remeasurement gain (loss) related to defined benefit plan (197,579 ) 45,096 — (10,914 ) (163,397 ) Gain (loss) on valuation of cash flow hedges (10,371 ) 10,371 — — — Total 102,020 191,178 (101,647 ) (18,183 ) 173,368 For the year ended December 31, 2017 Beginning Increase (*) Reclassification (*) Income tax Ending balance Gain (loss) on valuation of AFS financial assets 386,981 80,997 (164,803 ) (1,245 ) 301,930 Share of other comprehensive income (loss) of joint ventures and associates (1,863 ) 2,516 — (1,904 ) (1,251 ) Gain (loss) on foreign currency translation of foreign operations (48,353 ) (193,272 ) — (1,075 ) (242,700 ) Remeasurement gain (loss) related to defined benefit plan (163,397 ) 6,216 — 4,557 (152,624 ) Gain (loss) on valuation of cash flow hedges — 1,025 — (248 ) 777 Transfer to assets held for sale — 4,145 — — 4,145 Total 173,368 (98,373 ) (164,803 ) 85 (89,723 ) (*) For the change in gain (loss) on valuation of AFS financial assets, “increase (decrease)” represents change due to the valuation during the period, and “reclassification adjustments” represents disposal or recognition of impairment losses on AFS financial assets. For the year ended December 31, 2018 Beginning (*1) Increase (*2)(*3) Reclassification Income tax Ending balance Net gain (loss) on valuation of financial assets at FVTOCI (88,906 ) (8,677 ) 8,015 2,386 (87,182 ) Gain (loss) on financial liabilities at FVTPL (IFRS 9) designated as upon initial recognition due to own credit risk (96 ) 132 — (36 ) — Share of other comprehensive gain (loss) of joint ventures and associates (2,656 ) 4,080 — (1,122 ) 302 Gain (loss) on foreign currency translation of foreign operations (242,806 ) (2,661 ) — 732 (244,735 ) Remeasurement gain (loss) related to defined benefit plan (152,358 ) (111,401 ) — 27,033 (236,726 ) Gain (loss) on valuation of derivatives designated as cash flow hedges 777 30,655 (26,871 ) (8,430 ) (3,869 ) Transfer to assets held for sale 4,145 (4,145 ) — — — Total (481,900 ) (92,017 ) (18,856 ) 20,563 (572,210 ) (*1) The beginning balance was adjusted in accordance with IFRS 9. (*2) Net gain (loss) on valuation of financial assets at FVTOCI included the 1,009 million Won transfer to retained earnings due to disposal of equity securities. (*3) Gain (loss) on financial liabilities at fair value through profit or loss designated as upon initial recognition due to own credit risk included the 4 million Won transfer to retained earnings due to redemption. |
Retained Earnings (Tables)
Retained Earnings (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Retained Earnings Note Disclosure [Abstract] | |
Schedule of appropriated and unappropriated retained earnings [Table Text Block] | (1) Details of retained earnings are as follows (Unit: Korean Won in millions): December 31, December 31, Legal reserve Earned surplus reserve 1,729,754 1,857,754 Other legal reserve 45,668 46,384 Sub-total 1,775,422 1,904,138 Voluntary reserve Business rationalization reserve 8,000 8,000 Reserve for financial structure improvement 235,400 235,400 Additional reserve 7,418,806 7,759,804 Regulatory reserve for credit loss 2,438,191 2,578,457 Revaluation reserve 751,964 715,860 Other voluntary reserve 11,700 — Sub-total 10,864,061 11,297,521 Retained earnings before appropriation (*) 2,980,523 3,922,998 Total 15,620,006 17,124,657 (*) The unappropriated retained earnings for the current period has been restated in accordance with IFRS 9. |
Net Interest Income (Tables)
Net Interest Income (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Interest Revenue (Expense), Net [Abstract] | |
Details of interest income | (1) Interest income recognized is as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Financial assets at FVTPL (IFRS 9) — — 54,243 Financial assets at FVTOCI — — 280,371 Financial assets at amortized cost Securities at amortized cost — — 376,788 Loans and other financial assets at amortized cost: Interest on due from banks — — 112,581 Interest on loans — — 8,832,485 Interest of other receivables — — 28,031 Sub-total — — 9,349,885 Financial assets at FVTPL (IAS 39) 63,408 53,348 — AFS financial assets 339,518 239,030 — HTM financial assets 360,054 307,965 — Loans and receivables: Interest on due from banks 75,021 83,325 — Interest on loans 7,635,791 7,835,957 — Interest of other receivables 38,520 31,062 — Sub-total 7,749,332 7,950,344 — Total 8,512,312 8,550,687 9,684,499 |
Details of interest expense | (2) Interest expense recognized is as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Interest on deposits due to customers 2,547,142 2,380,263 2,917,165 Interest on borrowings 215,240 238,212 306,739 Interest on debentures 619,255 638,653 720,394 Other interest expense 111,131 72,909 89,250 Total 3,492,768 3,330,037 4,033,548 |
Net Fees and Commissions Inco_2
Net Fees and Commissions Income (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Fee and commission income (expense) [Abstract] | |
Schedule of fee and commission income [Table Text Block] | (1) Details of fees and commissions income recognized are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Fees and commission received for brokerage 166,317 164,041 162,344 Fees and commission received related to credit 170,329 166,364 173,233 Fees and commission received for electronic finance 107,985 110,105 121,250 Fees and commission received on foreign exchange handling 53,468 58,383 60,433 Fees and commission received on foreign exchange 54,924 61,552 66,036 Fees and commission received for guarantee 66,549 65,779 65,254 Fees and commission received on credit card 954,502 1,072,423 598,705 Fees and commission received on securities business 70,928 80,872 96,379 Fees and commission from trust management 78,211 141,766 177,456 Fees and commission received on credit information 11,017 11,737 12,985 Other fees 131,240 136,176 146,689 Total 1,865,470 2,069,198 1,680,764 |
Schedule of fee and commission expense [Table Text Block] | (2) Details of fees and commissions expense incurred are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Fees and commissions paid 162,170 164,834 174,669 Credit card commission 760,913 828,363 428,613 Brokerage commission 739 558 1,833 Others 4,517 4,977 5,675 Total 928,339 998,732 610,790 |
Dividend Income (Tables)
Dividend Income (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Revenue From Dividends [Abstract] | |
Schedule of revenue from dividends [Table Text Block] | (1) Details of dividend income recognized are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Financial assets at FVTPL (IFRS 9) — — 67,892 Financial assets at FVTPL (IAS 39) 996 446 — Financial assets at FVTOCI — — 22,660 AFS financial assets 183,514 124,546 — Total 184,510 124,992 90,552 |
Details of dividend income related to financial assets at fair value through other comprehensive income | (2) Details of dividends related to financial assets at FVTOCI are as follows (Unit: Korean Won in millions): For the year ended December 31, 2018 Dividend income recognized from assets held Equity securities 22,386 Dividend income recognized from assets derecognized 274 Total 22,660 |
Net gain or loss on financial_2
Net gain or loss on financial instruments at fair value through profit or loss mandatorily measured at fair value (IFRS 9 and IAS 39) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of gains (losses) on financial instruments at fair value through profit or loss [Abstract] | |
Details of gains or losses related to financial assets at fair value through profit or loss | (1) Details of gain or loss related to net gain or loss on financial instruments at FVTPL (IFRS 9 and IAS 39) are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Gain on financial instruments at fair value through profit or loss mandatorily measured at fair value — — 196,959 Gain on financial instruments held for trading 185,786 6,123 — Gain on financial instruments at fair value through profit or loss designated as upon initial recognition — — 17,484 Loss on financial instruments designed as at fair value through profit or loss (71,399 ) (110,950 ) — Total 114,387 (104,827 ) 214,443 |
Gains or losses on financial assets held for trading | (2) Details of net gain or loss on financial instrument at fair value through profit or loss mandatorily measured at fair value and financial instruments held for trading are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Financial assets at FVTPL (financial assets held for trading) Securities Gain on valuation 9,323 2,764 137,237 Gain on disposals 24,509 20,528 45,105 Loss on valuation (12,681 ) (13,757 ) (25,499 ) Loss on disposals (11,524 ) (6,466 ) (26,728 ) Sub-total 9,627 3,069 130,115 Loans Gain on valuation — — 1,606 Gain on disposals — — 4,136 Loss on valuation — — (4,805 ) Loss on disposals — — (117 ) Sub-total — — 820 Other Gain on valuation 13,628 6,524 2,050 financial Gain on disposals 2,404 2,353 530 assets Loss on valuation (14,033 ) (7,885 ) (2,280 ) Loss on disposals (1,644 ) (619 ) (86 ) Sub-total 355 373 214 Sub-total 9,982 3,442 131,149 Derivatives (Held for trading) Interest rate derivatives Gain on transactions and valuation 1,423,606 1,088,192 1,255,581 Loss on transactions and valuation (1,401,582 ) (1,043,312 ) (1,303,244 ) Sub-total 22,024 44,880 (47,663 ) Currency derivatives Gain on transactions and valuation 5,804,420 7,253,426 4,935,922 Loss on transactions and valuation (5,683,357 ) (7,408,741 ) (4,822,915 ) Sub-total 121,063 (155,315 ) 113,007 Equity derivatives Gain on transactions and valuation 293,657 511,220 486,560 Loss on transactions and valuation (259,280 ) (397,462 ) (484,986 ) Sub-total 34,377 113,758 1,574 Other derivatives Gain on transactions and valuation 50,139 4,056 4,138 Loss on transactions and valuation (51,799 ) (4,698 ) (5,246 ) Sub-total (1,660 ) (642 ) (1,108 ) Sub-total 175,804 2,681 65,810 Total 185,786 6,123 196,959 |
Gains or losses on financial assets designated at fair value through profit or loss | (3) Details of net gain (loss) on financial instrument at fair value through profit or loss designated as upon initial recognition and Losses on financial instruments designated as at fair value through profit or loss are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Gain (loss) on equity-linked securities: Loss on disposal of equity-linked securities (24,165 ) (79,965 ) (2,058 ) Gain (loss) on valuation of equity-linked securities (52,007 ) (32,511 ) 17,945 Sub-total (76,172 ) (112,476 ) 15,887 Gain on other securities: Gain on disposals of securities 14 — — Gain on valuation of other securities 882 290 — Sub-total 896 290 — Gain on other financial instruments: Gain on valuation of other financial instruments 3,877 1,236 1,597 Total (71,399 ) (110,950 ) 17,484 |
Gains (losses) on financial a_2
Gains (losses) on financial assets at vair value through other comprehensiveIncome and available-for-sale financial assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of gains losses recognised in profit or loss available-for-sale securities [Abstract] | |
Details of Gains (Losses) on financial assets at fair value through other comprehensive income and available-for-sale financial assets | Details of net gain or loss on financial assets at FVTOCI and AFS financial assets recognized are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Gain on redemption of securities 721 47 53 Gain on transaction of securities 47,985 223,961 1,994 Impairment loss on securities (49,741 ) (31,300 ) — Total (1,035 ) 192,708 2,047 3 |
Impairment Losses Due to Cred_2
Impairment Losses Due to Credit Loss (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of impairment loss and reversal of impairment loss [Abstract] | |
Impairment reversal (loss) due to credit loss | 38. IMPAIRMENT REVERSAL (LOSS) DUE TO CREDIT LOSS Impairment reversal (loss) due to credit loss are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Impairment loss due to credit loss on financial assets measured at FVTOCI — — (2,027 ) Impairment loss due to credit loss on securities at amortized cost — — (1,922 ) Provision for credit loss on loan and other financial assets at amortized cost — — (415,084 ) Impairment loss due to credit loss (890,763 ) (862,273 ) — Reversal of provision on guarantee 59,780 55,424 105,985 Reversal of provision on (provision for) unused loan commitment (3,093 ) 21,716 (16,526 ) Total (834,076 ) (785,133 ) (329,574 ) |
General administrative expens_2
General administrative expenses and other operating incomes (expenses) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of general administrative expenses and other operating income (expense) [Abstract] | |
Details of general and administrative expenses | (1) Details of general and administrative expenses recognized are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Salaries Short-term employee benefits Salaries 1,323,007 1,317,826 1,484,236 Employee benefits 466,585 559,562 468,012 Retirement benefit service costs 156,356 146,848 145,149 Termination 179,286 299,562 225,106 Sub-total 2,125,234 2,323,798 2,322,503 Depreciation and amortization 248,269 183,601 216,735 Other generaland administrative expenses Rent 311,992 313,080 321,198 Taxes and public dues 102,531 111,248 115,454 Service charges 244,543 198,828 222,530 Computer and IT related 83,978 70,936 88,689 Telephone and communication 63,699 65,015 70,618 Operating promotion 48,115 43,850 43,540 Advertising 76,153 68,942 72,450 Printing 9,502 8,633 8,601 Traveling 11,681 13,064 12,757 Supplies 6,827 6,795 7,071 Insurance premium 8,092 8,548 8,355 Reimbursement 26,846 27,516 23,474 Maintenance 16,470 16,081 17,384 Water, light and heating 15,006 14,165 14,686 Vehicle maintenance 9,987 9,902 10,264 Others 69,551 46,799 47,724 Sub-total 1,104,973 1,023,402 1,084,795 Total 3,478,476 3,530,801 3,624,033 |
Details of other operating income | (2) Details of other operating income recognized are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Gain on transactions of foreign exchange 4,791,772 3,391,095 1,227,561 Gain on disposals of loans and receivables (*1) 204,239 205,490 — Gain related to derivatives (Designated for hedging) 130 122 35,810 Gain on fair value hedged items 99,302 53,532 42,797 Others (*2) 112,079 86,159 82,417 Total 5,207,522 3,736,398 1,388,585 (*1) Gain (loss) on disposal of loan and receivables occurred during the year ended December 31, 2018 was presented as a separate account named ‘Net gain related to financial assets at amortized cost’ in accordance with the adoption of IFRS 9. (*2) Other income includes income amounting to 74,700 million Won, 29,336 million Won and 29,316 million Won for the years ended December 31, 2016, 2017 and 2018, respectively, which are related to the Group’s expected payments from other creditor financial institutions in accordance with the creditor financial institutions committee agreement. |
Details of other operating expenses | (3) Details of other operating expenses recognized are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Losses on transactions of foreign exchange 4,706,055 2,886,535 991,423 KDIC deposit insurance premium 298,804 304,055 315,315 Contribution to miscellaneous funds 295,601 286,000 298,416 Losses on disposals of loans and receivables (*1) 4,265 9,221 — Losses related to derivatives (Designated for hedging) 98,981 109,569 36,483 Losses on fair value hedged items 475 — 17,299 Others (*2) 171,120 172,331 124,240 Total 5,575,301 3,767,711 1,783,176 (*1) Loss on disposal of loan and receivables occurred during the year ended December 31, 2018 was presented as a separate account named ‘Net gain related to financial assets at amortized cost’ in accordance with the adoption of IFRS 9. (*2) Others include such expenses amounting to 109,063 million Won, 5,237 million Won and 1,594 million Won for the years ended December 31, 2016, 2017 and 2018, respectively, that are related to the Group’s expected payments to other creditor financial institutions in accordance with the creditor financial institutions committee agreement. In addition, they include 51,770 million Won and 48,292 million Won for the years ended December 31, 2017 and 2018, respectively, of intangible asset amortization expense. |
Other non-operating income (e_2
Other non-operating income (expense) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Other non-operating income (expense) [Abstract] | |
Details of gains or losses on valuation of investments in joint ventures and associates | (1) Details of gains or losses on valuation of investments in joint ventures and associates are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Gains on valuation of investments in joint ventures and associates 36,757 83,506 25,791 Losses on valuation of investments in joint ventures and associates (55,091 ) (70,117 ) (22,595 ) Impairment losses of investments in joint ventures and associates (1,173 ) (114,903 ) (177 ) Total (19,507 ) (101,514 ) 3,019 |
Details of other non-operating income and expenses | (2) Details of other non-operating For the years ended December 31 2016 2017 2018 Other non-operating 132,272 84,361 129,709 Other non-operating (133,582 ) (190,083 ) (87,157 ) Total (1,310 ) (105,722 ) 42,552 |
Details of other non-operating income | (3) Details of other non-operating For the years ended December 31 2016 2017 2018 Rental fee income 7,291 6,973 6,835 Gains on disposal of investments in joint ventures and associates 23,457 39,932 50,511 Gains on disposal of premises and equipment, intangible assets and other assets 1,885 5,028 30,278 Reversal of impairment loss of premises and equipment, intangible assets and other assets 3,581 666 761 Others 96,058 31,762 41,324 Total 132,272 84,361 129,709 |
Details of other non-operating expenses | (4) Details of other non-operating For the years ended December 31 2016 2017 2018 Depreciation on investment properties 3,762 3,902 4,045 Interest expenses of refundable deposits 496 459 620 Losses on disposal of investment in joint ventures and associates 15,060 38,713 2,931 Losses on disposal of premises and equipment, intangible assets and other assets 9,718 9,994 1,160 Impairment losses of premises and equipment, intangible assets and other assets 1,936 390 87 Donation 43,939 98,132 51,983 Others 58,671 38,493 26,331 Total 133,582 190,083 87,157 |
Income Tax Expense (Tables)
Income Tax Expense (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Major components of tax expense (income) [Abstract] | |
Details of income tax expenses | (1) Details of income tax expenses are as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Current tax expense: Current tax expense with respect to the current period 332,996 471,669 432,645 Adjustments recognized in the current period in relation to the tax expense of prior periods (22,138 ) (5,209 ) 5,923 Sub-total 310,858 466,460 438,568 Deferred tax expense (income): Changes in deferred tax assets (liabilities) relating to the temporary differences (35,002 ) (47,042 ) 314,655 Income tax expense 275,856 419,418 753,223 |
Relationship between net income loss before income tax expense and Income tax expense benefit | (2) Income tax expense reconciled to net income before income tax expense is as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Net income before income tax expense 1,553,389 1,949,506 2,804,872 Tax calculated at statutory tax rate (*) 375,458 471,318 760,978 Adjustments: Effect of income that is exempt from taxation (75,166 ) (55,983 ) (49,418 ) Effect of expenses that are not deductible in determining taxable income 13,664 22,254 18,639 Adjustments recognized in the current period in relation to the current tax of prior periods (22,138 ) (5,209 ) 5,923 Others (15,962 ) (12,962 ) 17,101 Sub-total (99,602 ) (51,900 ) (7,755 ) Income tax expense 275,856 419,418 753,223 Effective tax rate 17.76 % 21.5 % 26.9 % (*) The applicable income tax rate: 1) 11% for taxable income below 200 million Won, 2) 22% for above 200 million Won and below 20 billion Won, 3) 24.2% for above 20 billion Won and below 300 billion Won, 4) 27.5% for above 300 billion Won. |
Changes in cumulative temporary differences | (3) Changes in cumulative temporary differences are as follows (Unit: Korean Won in millions): For the year ended December 31, 2016 Beginning Recognized Recognized as Ending balance Gain (loss) on financial assets at FVTPL 445,729 (18,524 ) — 427,205 Gain (loss) on AFS financial assets (121,536 ) 57 (666 ) (122,145 ) Gain (loss) on valuation using the equity method of accounting 5,106 26,500 1,337 32,943 Gain (loss) on valuation of derivatives (39,774 ) (4,079 ) — (43,853 ) Accrued income (82,148 ) 12,188 — (69,960 ) Provision for loan losses (50,504 ) 3,693 — (46,811 ) Loan and receivables written off 54,225 (310 ) — 53,915 Loan origination costs and fees (103,912 ) (4,190 ) — (108,102 ) Defined benefit liability 203,423 32,536 (10,914 ) 225,045 Deposits with employee retirement insurance trust (187,044 ) (39,277 ) — (226,321 ) Provision for guarantee 69,225 (28,087 ) — 41,138 Other provision 27,898 4,494 — 32,392 Others (29,470 ) 50,001 (5,993 ) 14,538 Net deferred tax assets 191,218 35,002 (16,236 ) 209,984 For the year ended December 31, 2017 Beginning Recognized Recognized as Ending balance Gain (loss) on financial assets 407,128 72,945 (1,008 ) 479,065 Gain (loss) on valuation using the equity method of accounting 32,859 (6,473 ) (1,904 ) 24,482 Gain (loss) on valuation of derivatives (43,818 ) 33,806 (248 ) (10,260 ) Accrued income (69,959 ) 8,972 — (60,987 ) Provision for loan losses (46,811 ) (886 ) — (47,697 ) Loan and receivables written off 53,915 (44,138 ) — 9,777 Loan origination costs and fees (108,102 ) (29,218 ) — (137,320 ) Defined benefit liability 225,045 54,533 4,656 284,234 Deposits with employee retirement insurance trust (226,321 ) (61,012 ) — (287,333 ) Provision for guarantee 41,138 (10,536 ) — 30,602 Other provision 32,392 12,761 — 45,153 Others (*) (87,479 ) 16,289 (1,075 ) (72,265 ) Net deferred tax assets 209,987 47,043 421 257,451 (*) Among the deferred tax assets and liabilities classified as ‘Others,’ the deferred tax asset arising from unused tax losses amounts to 15,652 million Won. For the year ended December 31, 2018 IFRS 9 adoption effect Beginning Recognized Recognized as Beginning Business Recognized Recognized as (*2) Ending Balance Gain (loss) on financial assets 479,065 (150,140 ) 149,796 478,721 — (102,170 ) (4,205 ) 372,346 Gain on valuation using the equity method of accounting 24,482 — — 24,482 — 3,203 669 28,354 Gain (loss) on valuation of derivatives (10,260 ) (3,990 ) — (14,250 ) — (13,617 ) 360 (27,507 ) Accrued income (60,987 ) — — (60,987 ) 621 4,520 — (55,846 ) Provision for loan losses (47,697 ) 47,446 — (251 ) 399 (52,493 ) — (52,345 ) Loan and receivables written off 9,777 — — 9,777 — (3,105 ) — 6,672 Loan origination costs and fees (137,320 ) 36 — (137,284 ) — (17,147 ) — (154,431 ) Defined benefit liability 284,234 — — 284,234 317 43,821 31,715 360,087 Deposits with employee retirement insurance trust (287,333 ) — — (287,333 ) — (31,092 ) 95 (318,330 ) Provision for guarantee 30,602 1,370 — 31,972 — (20,598 ) — 11,374 Other provision 45,153 25,879 — 71,032 — 4,162 — 75,194 Others (*1) (72,265 ) 4,917 — (67,348 ) 44 (130,137 ) (6,642 ) (204,083 ) Net deferred tax assets 257,451 (74,482 ) 149,796 332,765 1,381 (314,653 ) 21,992 41,485 (*1) Among the deferred tax assets and liabilities classified as ‘Others,’ the deferred tax asset arising from unused tax losses amounts to 18,154 million Won. (*2) Includes 1,429 million Won presented on non-controlling |
Unrealizable temporary differences | (4) Unrealizable temporary differences are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 Deductible temporary differences 126,818 272,911 Tax loss carry forward 96,135 149,035 Taxable temporary differences (1,298,586 ) (868,541 ) Total (1,075,633 ) (446,595 ) |
Expected extinctive date of tax loss carry forward that are not recognized as deferred tax assets | As of December 31, 2018, the expected extinctive date of tax loss carry forward that are not recognized as deferred tax assets are as follows (Unit: Korean Won in millions): 1 year or less 1 – 2 years 2 – 3 years More than 3 years Tax loss carry forward — — — 149,035 |
Deferred tax charged directly to other comprehensive income | (5) Details of accumulated deferred tax charged directly to other equity are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 Net gain on valuation of financial assets at FVTOCI — 31,422 Loss on valuation of AFS securities (114,169 ) Share of other comprehensive loss of and associates (954 ) (285 ) Gain on foreign currency translation of foreign operations 15,855 8,183 Remeasurements of the net defined benefit liability 56,317 88,127 Gain (loss) on derivatives designated as cash flow hedge (248 ) 1,140 Total (43,199 ) 128,587 |
Current tax assets and liabilities | (6) Current tax assets and liabilities are as follows (Unit: Korean Won in millions) December 31, 2017 December 31, 2018 Current tax assets 4,722 20,730 Current tax liabilities 232,600 159,078 |
Earnings per Share (Tables)
Earnings per Share (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Earnings per share [Abstract] | |
Details of earnings per share | Basic EPS is calculated by dividing net income attributable to common shareholders by weighted-average number of common shares outstanding (Unit: Korean Won in millions, except for EPS and number of shares): For the years ended December 31 2016 2017 2018 Net income attributable to owners 1,261,266 1,512,148 2,033,182 Dividends to hybrid securities (206,515 ) (167,072 ) (151,194 ) Net income attributable to Common shareholders 1,054,751 1,345,076 1,881,988 Weighted-average number of common shares outstanding 673 million shares 673 million shares 673 million shares Basic EPS (Unit: Korean Won) 1,567 1,999 2,796 |
Contingent Liabilities and Co_2
Contingent Liabilities and Commitments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of contingent liabilities [Abstract] | |
Details of guarantees | (1) Details of guarantees are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 Confirmed guarantees Guarantee for loans 157,299 125,870 Acceptances 320,519 371,525 Guarantees in acceptances of imported goods 108,238 158,179 Other confirmed guarantees 6,288,965 6,452,791 Sub-total 6,875,021 7,108,365 Unconfirmed guarantees Local letters of credit 383,117 305,057 Letters of credit 3,637,787 3,322,731 Other unconfirmed guarantees 505,689 669,677 Sub-total 4,526,593 4,297,465 Commercial paper purchase commitments and others 1,458,101 1,260,587 Total 12,859,715 12,666,417 |
Details of unused loan commitments and others | (2) Details of unused loan commitments and others are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 Loan commitments 80,760,325 97,796,704 Other commitments 4,546,090 5,041,314 |
Litigation case [Table Text Block] | (3) Litigation case Legal cases where the Group is involved are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 As plaintiff As defendant As plaintiff As defendant Number of cases (*) 83 cases 155 cases 77 cases 154 cases Amount of litigation 413,267 244,767 494,645 246,826 Provisions for litigations 9,277 17,925 (*) The numbers of lawsuits as of December 31, 2017 and 2018 do not include fraud lawsuits, etc. and those lawsuits that are filed only to extend the statute of limitation. |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of transactions between related parties [Abstract] | |
Details of related parties | (1) Related parties Related parties Associates Woori Service Networks Co., Ltd., Korea Credit Bureau Co., Ltd., Korea Finance Security Co., Ltd., Chin Hung International Inc., 2016KIF-IMM |
Assets and liabilities from transactions with related parties | (2) Assets and liabilities from transactions with related parties are as follows (Unit: Korean Won in millions): Related party A title of account December 31, 2017 December 31, 2018 Associates Kumho Tire Co., Inc. (*1) Loans 170,917 — Loss allowance (156,712 ) — Deposits due to customers 666 — Other liabilities 50 — Woori Service Networks Co., Ltd. Loans 45 69 Deposits due to customers 1,311 1,967 Other liabilities 357 333 Korea Credit Bureau Co., Ltd. Loans 6 7 Deposits due to customers 5,586 6,494 Other liabilities 54 19 Korea Finance Security Co., Ltd. Loans 56 57 Loss allowance — (4 ) Deposits due to customers 2,854 5,040 Other liabilities 7 10 Chin Hung International Inc. Loans 408 411 Loss allowance (22 ) (204 ) Deposits due to customers 46,220 11,605 Other liabilities 1,658 2,974 Poonglim Industrial Co., Ltd. (*2) Deposits due to customers 4 — STX Engine Co., Ltd. (*3) Loans 106,176 — Loss allowance (88,734 ) — Deposits due to customers 18,092 — Other liabilities 29 — STX Corporation (*3) Loans 47,711 — Loss allowance (31,210 ) — Deposits due to customers 77,555 — Other liabilities 80 — K BANK Co., Ltd. Loans 212 190 Well to Sea No.3 Private Equity Fund Loans 73,810 1,857 Loss allowance (39 ) (9 ) Deposits due to customers 61 356 Other liabilities 27 64 Others (*4) Loans 499 4,783 Loss allowance (471 ) (324 ) Other assets 1 9 Deposits due to customers 2,906 8,049 Other liabilities 73 165 (*1) The Group lost significant influence over the entity due to the termination of the joint management procedures of the creditors’ financial institution during the year December 31, 2018, and thus the entity was excluded from the list of associates. (*2) The Group lost significant influence over the entity due to the stock consolidation and the capital increase of the associate during the year ended December 31, 2018, and thus the entity was excluded from the list of associates. (*3) The shares of the entity were sold after it was transferred to assets held for sale during the years ended December 31, 2018 and thus was excluded from the list of associates. (*4) Others include Saman Corporation, Kyesan Engineering Co., Ltd., DAEA SNC Co., Ltd., etc., as of December 31, 2017 and 2018. |
Gain or loss from transactions with related parties | (3) Gain or loss from transactions with related parties are as follows (Unit: Korean Won in millions): For the years ended Related party A title of account 2016 2017 2018 Corporation that has significant influence over the Group KDIC (*1) Interest income 11,778 — — Interest expenses 20,966 15,331 — Associates Kumho Tire Co., Inc. (*2) Interest income 2,430 2,641 1,098 Fees income 6 5 — Interest expenses 68 1 — Impairment losses due to credit loss (reversal of allowance for credit loss) 162 155,997 (156,712 ) Woori Blackstone Korea Opportunity Private Equity Fund No.1 (*3) Fees income 1,364 6,225 — Woori Service Networks Co., Ltd. Other income 29 30 30 Interest expenses 49 24 14 Fees expenses 985 543 561 Other expenses 222 507 580 Korea Credit Bureau Co., Ltd. Interest expenses 138 82 62 Fees expenses 1,915 2,079 2,310 Korea Finance Security Co., Ltd. Interest expenses 10 12 12 Impairment losses due to credit loss — — 4 Fee expenses 110 — — Other expenses — — 146 Chin Hung International Inc. Interest income 240 364 — Fees income 1 1 — Interest expenses 28 27 43 Impairment losses due to credit loss (reversal of allowance for credit loss) (481 ) (4,265 ) 182 Poonglim Industrial Co., Ltd. Interest expenses 2 — — Reversal of allowance for credit loss (1,557 ) — — Force TEC C Co., Ltd. Interest income 153 — — Osung LST Co., Ltd. Interest income 170 — — Interest expenses 1 — — Reversal of allowance for credit loss (338 ) — — STX Engine Co., Ltd. (*4) Interest income 1,348 1,417 333 Fees income 58 28 — Interest expenses 97 147 86 Impairment losses due to credit loss (reversal of allowance for credit loss) 63,866 (797 ) (88,734 ) Associates Samho International Co., Ltd. (*5) Interest income 916 486 — Fees income 5 5 — Interest expenses 525 334 — Reversal of allowance for credit loss (5,166 ) (717 ) — STX Corporation (*4) Interest income 1,039 219 — Fees income 75 30 — Interest expenses 7 4 2 Impairment losses due to credit loss (reversal of allowance for credit loss) 73,457 (61,432 ) (31,210 ) Woori Columbus 1st Private Equity Fund (*3) Fees income 308 272 — K BANK Co., Ltd. (*8) Fees income 296 — 1,134 Other income 1,638 1,051 19 Well to Sea No.3 Private Equity Fund (*6) Interest income — 982 2,179 Interest expenses — 4 9 Impairment losses due to credit loss (reversal of allowance for credit loss) — 39 (30 ) Others (*7) Interest income — — 233 Fees income — — 23 Other income — — 14 Interest expenses 17 13 40 Impairment losses due to credit loss (reversal of allowance for credit loss) 253 218 (147 ) (*1) As its ownership interest in the Group is lower than 20% as of December 31, 2017, it has been excluded from the ‘corporation that have significant influence over the Group’ category. (*2) The Group lost significant influence over the entity due to the termination of the joint management procedures of the creditors’ financial institution during the year ended December 31, 2018, and thus the entity was excluded from the list of associates. (*3) The entity is excluded from the list of associates due to its liquidation for the year ended December 31, 2017. (*4) The shares of the entity were sold after it was transferred to assets held for sale during the years ended December 31, 2018 and thus was excluded from the list of associates. (*5) The shares of the entity were sold after it was transferred to assets held for sale during the year ended December 31, 2017 and thus was excluded from the list of associates. (*6) Due to capital contribution for the year ended December 31, 2017, the entity has been included in the list of associates. (*7) Others include the amount transacted with Saman Corporation, Kyesan Engineering Co., Ltd., DAEA SNC Co., Ltd., etc., for the years ended December 31, 2017 and 2018, and Saman Corporation, Kyesan Engineering Co., Ltd., Gachi Staff Co., Ltd., QTS Shipping Co., Ltd., and others were included as of December 31, 2016, respectively. (*8) Due to capital contribution during the year ended December 31, 2016, the entity has been included in the investment in associates. |
Major loan transactions with related parties | (4) Major loan transactions with related parties for the years ended December 31, 2017 and 2018 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2017 Related parties Beginning Loan Collection Others Ending (*1) Associates Kumho Tire Co., Inc. (*2) 50,413 7,057 — — 57,470 Well to Sea No. 3 Private Equity Fund (*3) — 83,810 10,000 — 73,810 STX Engine Co., Ltd. (*4) 44,797 2,177 7,088 — 39,886 For the year ended December 31, 2018 Related parties Beginning Loan Collection Others Ending (*1) Associates Kumho Tire Co., Inc. (*2) 57,470 — 7,057 (50,413 ) — Well to Sea No. 3 Private Equity Fund (*3) 73,810 16,857 88,810 — 1,857 STX Engine Co., Ltd. (*4) 39,886 — 2,177 (37,709 ) — (*1) Settlement payment from normal operation among the related parties were excluded, and in the case of a limited loan, it was presented as a net increase or decrease. (*2) The Group lost significant influence over the entity due to the termination of the joint management procedures of the creditors’ financial institution during the year ended December 31, 2018, and thus the entity was excluded from the list of associates. (*3) Due to capital contribution, the entity was included in the list of associates during the year ended December 31, 2017. (*4) The shares of the entity were sold after it was transferred to assets held for sale during the year ended December 31, 2018 and thus was excluded from the list of associates. |
Guarantees provided to the related parties | (6) Guarantees provided to the related parties are as follows (Unit: Korean Won in millions): December 31, 2017 December 31, 2018 Warranty Kumho Tire Co., Inc. (*1) 4,181 — Import credit in foreign currencies and others 636 — Unused loan commitment Korea Finance Security Co., Ltd. 204 203 Unused loan commitment Korea Credit Bureau Co., Ltd. 29 28 Unused loan commitment Woori Service Networks Co., Ltd. 155 131 Unused loan commitment Chin Hung International Inc. 31,891 32,058 Unused loan commitment STX Engine Co., Ltd. (*2) 68,858 — Import credit in foreign currencies and others STX corporation (*2) 17,557 — Import credit in foreign currencies and others 53 — Unused loan commitment K BANK Co., Ltd. — 15 Unused loan commitment Well to Sea No.3 Private Equity Fund 236,190 208,143 Unused loan commitment (*1) The Group lost significant influence over the entity due to the termination of the joint management procedures of the creditors’ financial institution during the year ended December 31, 2018, and thus the entity was excluded from the list of associates. (*2) The shares of the entity were sold after it was transferred to assets held for sale during the year ended December 31, 2018 and thus was excluded from the list of associates. |
Compensation for key management | (7) Compensation for key management is as follows (Unit: Korean Won in millions): For the years ended December 31 2016 2017 2018 Short-term employee salaries 9,523 12,024 12,326 Retirement benefit service costs 424 472 489 Total 9,947 12,496 12,815 |
Business Combination (Tables)
Business Combination (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of detailed information about business combination [Abstract] | |
Acquisition accounting of business combination [Table Text Block] | (3) Details of the accounting for the business combination are as follows (Unit: Korean Won in millions): WB Woori Total Consideration transferred: Cash and cash equivalents 87,562 64,062 151,624 Identifiable assets and liabilities recognized: Cash and cash equivalents 16,657 — 16,657 Financial assets at FVTOCI 17 — 17 Loans and other financial assets at amortized cost (*) 205,451 64,062 269,513 Premises and equipment 1,630 — 1,630 Intangible assets 763 — 763 Current tax assets 173 — 173 Deferred tax assets 1,381 — 1,381 Other assets 1,510 — 1,510 Assets sub-total 227,582 64,062 291,644 Deposits due to customers 54,615 — 54,615 Borrowings 120,644 — 120,644 Other financial liabilities 6,149 — 6,149 Current tax liabilities 640 — 640 Other liabilities 4,724 — 4,724 Liabilities sub-total 186,772 — 186,772 Identifiable net fair value 40,810 64,062 104,872 Goodwill 46,752 — 46,752 (*) The book value of loans and other financial assets at amortized cost is used as proxy for fair value since the difference between fair value and book value is not material. The total contractual amount of WB Finance is 208,633 million Won and the contractual cash flow that is not expected to be recovered is 3,182 million Won. |
Assuming the acquisition accounting of business combination at the beginning of reporting period | (4) Operating income and Net income of the Group Assuming that the acquisition date is the date of the beginning of reporting period, the amounts to be added to the operating income and net income in the Group’s statement of comprehensive income for the year ended December 31, 2018 are as follows: (Unit: Korean Won in millions): WB Finance Co., Ltd. Operating income 44,545 Net income 4,511 |
General_General Information (De
General_General Information (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | |
Disclosure of notes and other explanatory information [Abstract] | |||
Name of reporting entity or other means of identification | Woori Financial Group Inc. and subsidiaries | ||
Name of parent entity | Woori Financial Group Inc. | ||
Description of entity incorporation | established in 1899 | ||
Description of nature of entitys operations and principal activities | engaged in the commercial banking business under the Banking Act, trust business and foreign exchange business under the Financial Investment Services and Capital Market Act. | ||
Change of holding company | Effective as of January 11, 2019, Woori Financial Group Inc. ("Woori Financial Group") was established as the financial holding company of Woori Bank, and Woori Bank became a wholly-owned subsidiary of Woori Financial Group, pursuant to a "comprehensive stock transfer" under Article 360-15 of the Korean Commercial Code (the "Stock Transfer"). In the Stock Transfer, holders of Woori Bank common stock transferred all of their shares to Woori Financial Group and in return received shares of the common stock of Woori Financial Group. The Stock Transfer constitutes a "succession" for purposes of Rule 12g-3(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), such that the common stock of Woori Financial Group is deemed to be registered under Section 12(b) of the Exchange Act by operation of Rule 12g-3(a). This Form 15 relates solely to the common stock, American depositary shares representing such common stock and reporting obligations of Woori Bank under the Exchange Act. As the successor issuer to Woori Bank, Woori Financial Group will hereafter file reports under the Exchange Act with the U.S. Securities and Exchange Commission using the commission file number of Woori Bank (001-31811). As part of the comprehensive stock transfer as of January 11, 2019, Woori Bank became a wholly owned subsidiary of Woori Financial Group and transferred the ownership of five of its subsidiaries to Woori Financial Group. These companies were Woori FIS Co., Ltd., Woori Finance Research Institute Co., Ltd., Woori Credit Information Co., Ltd., Woori Fund Service Co., Ltd., Woori Private Equity Asset Management Co., Ltd.. As a result, Woori Financial Group prepared these consolidated financial statements including the operations of its predecessor entities Woori Bank, Woori FIS Co., Ltd., Woori Finance Research Institute Co., Ltd., Woori Credit Information Co., Ltd., Woori Fund Service Co., Ltd., Woori Private Equity Asset Management Co., Ltd. and its consolidated subsidiaries. Previously, Woori Finance Holdings Co., Ltd. (established on March 27, 2001 in accordance with Financial Holding Companies Act), the former holding company of Woori Financial Group, held a 100% ownership of the Bank. Effective from November 1, 2014, Woori Finance Holdings Co., Ltd. completed its merger (the "Merger") with and into the Bank. Accordingly, the shares of the Bank, 597 million shares, prior to the merger, was reduced to nil in accordance with capital reduction procedure, and then, in accordance with the merger ratio, the Bank newly issued 676 million shares. | ||
Information of listing on stock market | On June 24, 2002, Woori Finance Holdings Co., Ltd. listed its common stock on the Korea Exchange through public offering. In addition, on September 29, 2003, Woori Finance Holdings Co., Ltd. registered with the Securities and Exchange Commission in the United States of America and, on the same day, listed its American Depositary Shares on the New York Stock Exchange. As Woori Finance Holdings Co., Ltd. was merged into the Bank, the Bank, which is the existing company, succeeded such rights and obligations as a listed company on the Korea Exchange and the New York Stock Exchange. | ||
Issued capital | ₩ 3,381,392 | $ 3,038,361 | ₩ 3,381,392 |
Information of incorporated subsidiaries | As a result of such merger, the Bank incorporated Woori Card Co., Ltd., Woori Investment Bank Co., Ltd., Woori FIS Co., Ltd., Woori Private Equity Asset Management Co., Ltd. and Woori Finance Research Institute Co., Ltd. as its subsidiaries. | ||
Address of registered office of entity | The headquarters of the Bank is located at 51, Sogong-ro, Jung-gu, Seoul, Korea. | ||
Description of additional information of number of branches and offices | The Bank has 877 branches and offices in Korea, and 23 branches and offices overseas as of December 31, 2018 | ||
Description of approval date of financial Statements | Apr. 26, 2019 |
General_Consolidated subsidiari
General_Consolidated subsidiaries and their financial information (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | |||
Woori FIS Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Woori FIS Co., Ltd. | Woori FIS Co., Ltd. | ||
Main business | System software development & maintenance | System software development & maintenance | ||
Percentage of ownership | 100.00% | 100.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 96,260 | ₩ 103,932 | ||
Liabilities | 63,412 | 71,386 | ||
Operating revenue | 271,651 | 252,460 | ||
Net income (loss) attributable to owners | 2,840 | 1,940 | ||
Comprehensive income (loss) attributable to owners | ₩ 269 | ₩ (2,963) | ||
Woori Private Equity Asset Management Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Woori Private Equity Asset Management Co., Ltd. | Woori Private Equity Asset Management Co., Ltd. | ||
Main business | Finance | Finance | ||
Percentage of ownership | 100.00% | 100.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 38,820 | ₩ 42,894 | ||
Liabilities | 1,439 | 2,670 | ||
Operating revenue | 1,713 | 7,257 | ||
Net income (loss) attributable to owners | (2,794) | (4,114) | ||
Comprehensive income (loss) attributable to owners | ₩ (2,843) | ₩ (4,074) | ||
Woori Finance Research Institute Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Woori Finance Research Institute Co., Ltd. | Woori Finance Research Institute Co., Ltd. | ||
Main business | Other service business | Other service business | ||
Percentage of ownership | 100.00% | 100.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 3,891 | ₩ 3,790 | ||
Liabilities | 560 | 350 | ||
Operating revenue | 4,708 | 4,733 | ||
Net income (loss) attributable to owners | 7 | 83 | ||
Comprehensive income (loss) attributable to owners | ₩ (109) | ₩ 64 | ||
Woori Card Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Woori Card Co., Ltd. | Woori Card Co., Ltd. | ||
Main business | Finance | Finance | ||
Percentage of ownership | 100.00% | 100.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 9,987,057 | ₩ 8,605,993 | ||
Liabilities | 8,305,093 | 6,973,705 | ||
Operating revenue | 1,371,301 | 1,771,157 | ||
Net income (loss) attributable to owners | 114,767 | 101,214 | ||
Comprehensive income (loss) attributable to owners | ₩ 106,517 | ₩ 107,321 | ||
Woori Investment Bank Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Woori Investment Bank Co., Ltd | Woori Investment Bank Co., Ltd | ||
Main business | Other credit finance business | Other credit finance business | ||
Percentage of ownership | 59.80% | 59.80% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 2,682,660 | ₩ 1,880,157 | ||
Liabilities | 2,367,418 | 1,588,610 | ||
Operating revenue | 205,446 | 183,376 | ||
Net income (loss) attributable to owners | 25,552 | 20,023 | ||
Comprehensive income (loss) attributable to owners | ₩ 25,533 | ₩ 20,210 | ||
Woori Credit Information Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Woori Credit Information Co., Ltd. | Woori Credit Information Co., Ltd. | ||
Main business | Credit information | Credit information | ||
Percentage of ownership | 100.00% | 100.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 34,921 | ₩ 33,298 | ||
Liabilities | 6,386 | 6,175 | ||
Operating revenue | 36,883 | 31,580 | ||
Net income (loss) attributable to owners | 1,657 | 861 | ||
Comprehensive income (loss) attributable to owners | ₩ 1,411 | ₩ 752 | ||
Woori America Bank | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Woori America Bank | Woori America Bank | ||
Main business | Finance | Finance | ||
Percentage of ownership | 100.00% | 100.00% | ||
Location | U.S.A. | U.S.A. | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 2,182,454 | ₩ 1,954,301 | ||
Liabilities | 1,878,117 | 1,679,248 | ||
Operating revenue | 90,975 | 81,337 | ||
Net income (loss) attributable to owners | 20,510 | 11,869 | ||
Comprehensive income (loss) attributable to owners | ₩ 32,335 | ₩ (16,833) | ||
Woori Global Markets Asia Limited | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Woori Global Markets Asia Limited | Woori Global Markets Asia Limited | ||
Main business | Finance | Finance | ||
Percentage of ownership | 100.00% | 100.00% | ||
Location | Hong Kong | Hong Kong | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 517,627 | ₩ 290,226 | ||
Liabilities | 396,216 | 178,343 | ||
Operating revenue | 18,748 | 11,345 | ||
Net income (loss) attributable to owners | 5,144 | 1,922 | ||
Comprehensive income (loss) attributable to owners | ₩ 9,647 | ₩ (12,544) | ||
Woori Bank China Limited | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Woori Bank China Limited | Woori Bank China Limited | ||
Main business | Finance | Finance | ||
Percentage of ownership | 100.00% | 100.00% | ||
Location | China | China | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 5,470,927 | ₩ 4,960,637 | ||
Liabilities | 4,953,813 | 4,458,683 | ||
Operating revenue | 366,973 | 388,913 | ||
Net income (loss) attributable to owners | 21,879 | 13,809 | ||
Comprehensive income (loss) attributable to owners | ₩ 19,194 | ₩ (15,252) | ||
AO Woori Bank | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | AO Woori Bank | AO Woori Bank | ||
Main business | Finance | Finance | ||
Percentage of ownership | 100.00% | 100.00% | ||
Location | Russia | Russia | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 305,521 | ₩ 201,704 | ||
Liabilities | 256,260 | 149,101 | ||
Operating revenue | 19,433 | 15,656 | ||
Net income (loss) attributable to owners | 5,163 | 4,748 | ||
Comprehensive income (loss) attributable to owners | ₩ (3,234) | ₩ 1,217 | ||
PT Bank Woori Saudara Indonesia 1906 Tbk | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | PT Bank Woori Saudara Indonesia 1906 Tbk | PT Bank Woori Saudara Indonesia 1906 Tbk | ||
Main business | Finance | Finance | ||
Percentage of ownership | 79.90% | 79.90% | ||
Location | Indonesia | Indonesia | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 2,355,975 | ₩ 2,230,617 | ||
Liabilities | 1,853,768 | 1,745,171 | ||
Operating revenue | 192,719 | 192,485 | ||
Net income (loss) attributable to owners | 40,385 | 38,488 | ||
Comprehensive income (loss) attributable to owners | ₩ 27,109 | ₩ (18,689) | ||
Banco Woori Bank do Brasil S.A. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Banco Woori Bank do Brasil S.A. | Banco Woori Bank do Brasil S.A. | ||
Main business | Finance | Finance | ||
Percentage of ownership | 100.00% | 100.00% | ||
Location | Brazil | Brazil | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 179,130 | ₩ 213,889 | ||
Liabilities | 149,146 | 181,544 | ||
Operating revenue | 13,971 | 20,455 | ||
Net income (loss) attributable to owners | 1,262 | 1,843 | ||
Comprehensive income (loss) attributable to owners | ₩ (2,326) | ₩ (2,840) | ||
Korea BTL Infrastructure Fund | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Korea BTL Infrastructure Fund | Korea BTL Infrastructure Fund | ||
Main business | Finance | Finance | ||
Percentage of ownership | 99.90% | 99.90% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 777,437 | ₩ 786,480 | ||
Liabilities | 299 | 301 | ||
Operating revenue | 29,760 | 30,240 | ||
Net income (loss) attributable to owners | 26,057 | 26,390 | ||
Comprehensive income (loss) attributable to owners | ₩ 26,057 | ₩ 26,390 | ||
Woori Fund Service Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Woori Fund Service Co., Ltd. | Woori Fund Service Co., Ltd. | ||
Main business | Finance | Finance | ||
Percentage of ownership | 100.00% | 100.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 14,448 | ₩ 12,653 | ||
Liabilities | 1,440 | 1,242 | ||
Operating revenue | 10,052 | 9,021 | ||
Net income (loss) attributable to owners | 1,597 | 1,398 | ||
Comprehensive income (loss) attributable to owners | ₩ 1,597 | ₩ 1,398 | ||
Woori Finance Cambodia PLC. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Woori Finance Cambodia PLC. | Woori Finance Cambodia PLC. | ||
Main business | Finance | Finance | ||
Percentage of ownership | 100.00% | 100.00% | ||
Location | Cambodia | Cambodia | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 93,239 | ₩ 51,304 | ||
Liabilities | 71,133 | 32,873 | ||
Operating revenue | 11,038 | 5,895 | ||
Net income (loss) attributable to owners | 2,826 | 983 | ||
Comprehensive income (loss) attributable to owners | ₩ 3,676 | ₩ (473) | ||
Woori Finance Myanmar Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Woori Finance Myanmar Co., Ltd. | Woori Finance Myanmar Co., Ltd. | ||
Main business | Finance | Finance | ||
Percentage of ownership | 100.00% | 100.00% | ||
Location | Myanmar | Myanmar | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 19,340 | ₩ 18,236 | ||
Liabilities | 6,886 | 5,307 | ||
Operating revenue | 4,496 | 2,506 | ||
Net income (loss) attributable to owners | 640 | 791 | ||
Comprehensive income (loss) attributable to owners | ₩ (1,256) | ₩ 15 | ||
Wealth Development Bank | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Wealth Development Bank | Wealth Development Bank | ||
Main business | Finance | Finance | ||
Percentage of ownership | 51.00% | 51.00% | ||
Location | Philippines | Philippines | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 218,134 | ₩ 191,049 | ||
Liabilities | 184,344 | 156,808 | ||
Operating revenue | 13,668 | 13,632 | ||
Net income (loss) attributable to owners | 80 | 1,323 | ||
Comprehensive income (loss) attributable to owners | ₩ (451) | ₩ (1,093) | ||
Woori Bank Vietnam Limited | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Woori Bank Vietnam Limited | Woori Bank Vietnam Limited | ||
Main business | Finance | Finance | ||
Percentage of ownership | 100.00% | 100.00% | ||
Location | Vietnam | Vietnam | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 954,580 | ₩ 775,758 | ||
Liabilities | 720,554 | 632,160 | ||
Operating revenue | 48,716 | 29,698 | ||
Net income (loss) attributable to owners | 10,710 | 2,436 | ||
Comprehensive income (loss) attributable to owners | ₩ 13,618 | ₩ (15,347) | ||
WB Finance Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | |||
Subsidiaries | WB Finance Co., Ltd. | |||
Main business | Finance | |||
Percentage of ownership | 100.00% | |||
Location | Cambodia | |||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Explanation of newly added subsidiaries to consolidation | [1] | The entity was included in the list of subsidiaries as the Bank acquired more than 50% of the ownership interest. | ||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 268,794 | |||
Liabilities | 225,655 | |||
Operating revenue | 24,310 | |||
Net income (loss) attributable to owners | 2,421 | |||
Comprehensive income (loss) attributable to owners | ₩ 2,329 | |||
Woori Bank Europe | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | |||
Subsidiaries | Woori Bank Europe | |||
Main business | Finance | |||
Percentage of ownership | 100.00% | |||
Location | Germany | |||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Explanation of newly added subsidiaries to consolidation | [1] | The entity was included in the list of subsidiaries as the Bank acquired more than 50% of the ownership interest. | ||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 58,399 | |||
Liabilities | 311 | |||
Operating revenue | 5 | |||
Net income (loss) attributable to owners | (5,959) | |||
Comprehensive income (loss) attributable to owners | ₩ (5,974) | |||
Kumho Trust First Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Kumho Trust First Co., Ltd. | Kumho Trust First Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 0.00% | 0.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
Asiana Saigon Inc. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Asiana Saigon Inc. | Asiana Saigon Inc. | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 0.00% | 0.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
Consus Eighth Co., LLC | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Consus Eighth Co., LLC | Consus Eighth Co., LLC | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 0.00% | |||
Location | Korea | Korea | ||
Description of reason why entity is not subsidiary due to absence of control | [3] | The entity was removed from the list of subsidiaries as the control over the entity was lost during the current period | The entity was removed from the list of subsidiaries as the control over the entity was lost during the current period | |
KAMCO Value Recreation First Securitization Specialty Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | KAMCO Value Recreation First Securitization Specialty Co., Ltd. | KAMCO Value Recreation First Securitization Specialty Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 15.00% | 15.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
Hermes STX Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Hermes STX Co., Ltd. | Hermes STX Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 0.00% | 0.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
BWL First Co., LLC | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | BWL First Co., LLC | BWL First Co., LLC | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 0.00% | 0.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
Deogi Dream Fourth Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Deogi Dream Fourth Co., Ltd. | Deogi Dream Fourth Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 0.00% | 0.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
Jeonju Iwon Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Jeonju Iwon Ltd. | Jeonju Iwon Ltd. | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 0.00% | 0.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
Wonju I one Inc. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Wonju I one Inc. | Wonju I one Inc. | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 0.00% | 0.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
Heitz Third Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Heitz Third Co., Ltd. | Heitz Third Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 0.00% | 0.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
Woorihansoop First Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Woorihansoop 1st Co., Ltd. | Woorihansoop 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 0.00% | 0.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
Electric Cable First Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Electric Cable First Co., Ltd | Electric Cable First Co., Ltd | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 0.00% | 0.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
Woori International First Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Woori International First Co., Ltd. | Woori International First Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 0.00% | 0.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
Woori HJ First Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Woori HJ First Co., Ltd. | Woori HJ First Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 0.00% | |||
Location | Korea | Korea | ||
Description of reason why entity is not subsidiary due to absence of control | [3] | The entity was removed from the list of subsidiaries as the control over the entity was lost during the current period | The entity was removed from the list of subsidiaries as the control over the entity was lost during the current period | |
Woori WEBST First Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Woori WEBST 1st Co., Ltd. | Woori WEBST 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 0.00% | 0.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
Wibihansoop 1st Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Wibihansoop 1st Co., Ltd. | Wibihansoop 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 0.00% | 0.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
HNLD 1st Inc. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | HNLD 1st Inc. | HNLD 1st Inc. | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 0.00% | |||
Location | Korea | Korea | ||
Description of reason why entity is not subsidiary due to absence of control | [3] | The entity was removed from the list of subsidiaries as the control over the entity was lost during the current period | The entity was removed from the list of subsidiaries as the control over the entity was lost during the current period | |
Uri QS 1st Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Uri QS 1st Co., Ltd | Uri QS 1st Co., Ltd | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 0.00% | 0.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
Uri Display 1st Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Uri Display 1st Co., Ltd. | Uri Display 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 0.00% | 0.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
Tiger Eyes 2nd Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Tiger Eyes 2nd Co., Ltd. | Tiger Eyes 2nd Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 0.00% | 0.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
Woori Serveone 1st Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Woori Serveone 1st Co., Ltd. | Woori Serveone 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 0.00% | 0.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
Uri Display 2nd Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | |||
Subsidiaries | Uri Display 2nd Co.,Ltd. | |||
Main business | Asset securitization | |||
Percentage of ownership | 0.00% | |||
Location | Korea | |||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | ||
Woori the Colony Unjung Securitization Specialty Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | |||
Subsidiaries | Woori the Colony Unjung Securitization Specialty Co., Ltd. | |||
Main business | Asset securitization | |||
Percentage of ownership | 0.00% | |||
Location | Korea | |||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | ||
Woori Dream 1st Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | |||
Subsidiaries | Woori Dream 1st Co., Ltd. | |||
Main business | Asset securitization | |||
Percentage of ownership | 0.00% | |||
Location | Korea | |||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | ||
Woori Dream 2nd Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | |||
Subsidiaries | Woori Dream 2nd Co., Ltd. | |||
Main business | Asset securitization | |||
Percentage of ownership | 0.00% | |||
Location | Korea | |||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | ||
Woori H 1st Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | |||
Subsidiaries | Woori H 1st Co., Ltd. | |||
Main business | Asset securitization | |||
Percentage of ownership | 0.00% | |||
Location | Korea | |||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | ||
Woori HS 1st Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | |||
Subsidiaries | Woori HS 1st Co., Ltd. | |||
Main business | Asset securitization | |||
Percentage of ownership | 0.00% | |||
Location | Korea | |||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | ||
Woori HS 2nd Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | |||
Subsidiaries | Woori HS 2nd Co., Ltd. | |||
Main business | Asset securitization | |||
Percentage of ownership | 0.00% | |||
Location | Korea | |||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | ||
Woori Sinnonhyeon 1st Inc. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | |||
Subsidiaries | Woori Sinnonhyeon 1st Inc. | |||
Main business | Asset securitization | |||
Percentage of ownership | 0.00% | |||
Location | Korea | |||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | ||
Woori K 1st Co.,Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | |||
Subsidiaries | Woori K 1st Co.,Ltd. | |||
Main business | Asset securitization | |||
Percentage of ownership | 0.00% | |||
Location | Korea | |||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | ||
Uri S 1st Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | |||
Subsidiaries | Uri S 1st Co.,Ltd. | |||
Main business | Asset securitization | |||
Percentage of ownership | 0.00% | |||
Location | Korea | |||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | ||
Smart Casting Inc. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | |||
Subsidiaries | Smart Casting Inc. | |||
Main business | Asset securitization | |||
Percentage of ownership | 0.00% | |||
Location | Korea | |||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | ||
G5 Pro Short-term Bond Investment Fund 13 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | G5 Pro Short-term Bond Investment Fund 13 | G5 Pro Short-term Bond Investment Fund 13 | ||
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership | 100.00% | 100.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [4] | The entity is a structured entity for the purpose of investment in securities and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a structured entity for the purpose of investment in securities and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
Heungkuk Global Private Placement Investment Trust No. 1 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | |||
Subsidiaries | Heungkuk Global Private Placement Investment Trust No. 1 | |||
Main business | Securities investment and others | |||
Percentage of ownership | 98.50% | |||
Location | Korea | |||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [4] | The entity is a structured entity for the purpose of investment in securities and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | ||
HeungkukWoori Tech Company Private Placement Investment Trust No.1 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | HeungkukWoori Tech Company Private Placement Investment Trust No. 1 | HeungkukWoori Tech Company Private Placement Investment Trust No. 1 | ||
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership | 98.00% | 98.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [4] | The entity is a structured entity for the purpose of investment in securities and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a structured entity for the purpose of investment in securities and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
AI Partners Water Supply Private Placement Investment Trust No.2 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | |||
Subsidiaries | AI Partners Water Supply Private Placement Investment Trust No.2 | |||
Main business | Securities investment and others | |||
Percentage of ownership | 97.30% | |||
Location | England | |||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [4] | The entity is a structured entity for the purpose of investment in securities and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | ||
Consus Sakhalin Real Estate Investment Trust 1st | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Consus Sakhalin Real Estate Investment Trust 1st | Consus Sakhalin Real Estate Investment Trust 1st | ||
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership | 75.00% | 75.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [4] | The entity is a structured entity for the purpose of investment in securities and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a structured entity for the purpose of investment in securities and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
Principle Guaranteed Trust | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Principle Guaranteed Trust | Principle Guaranteed Trust | ||
Main business | Trust | Trust | ||
Percentage of ownership | 0.00% | 0.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [5] | The entity is a 'money trust' under the Financial Investment Services and Capital Markets Act and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a 'money trust' under the Financial Investment Services and Capital Markets Act and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
Principle and Interest Guaranteed Trust | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | Principle and Interest Guaranteed Trust | Principle and Interest Guaranteed Trust | ||
Main business | Trust | Trust | ||
Percentage of ownership | 0.00% | 0.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [5] | The entity is a 'money trust' under the Financial Investment Services and Capital Markets Act and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a 'money trust' under the Financial Investment Services and Capital Markets Act and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
Dongwoo First Securitization Specialty Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Investment Bank | Woori Investment Bank | ||
Subsidiaries | Dongwoo First Securitization Specialty Co., Ltd. | Dongwoo First Securitization Specialty Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 5.00% | 5.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
Seari First Securitization Specialty Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Investment Bank | Woori Investment Bank | ||
Subsidiaries | Seari First Securitization Specialty Co., Ltd. | Seari First Securitization Specialty Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 5.00% | 5.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
Namjong 1st Securitization Specialty Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Investment Bank | Woori Investment Bank | ||
Subsidiaries | Namjong 1st Securitization Specialty Co., Ltd. | Namjong 1st Securitization Specialty Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 5.00% | 5.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
Bukgeum First Securitization Specialty Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Investment Bank | Woori Investment Bank | ||
Subsidiaries | Bukgeum First Securitization Specialty Co., Ltd. | Bukgeum First Securitization Specialty Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 5.00% | 5.00% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
Seari Second Securitization Specialty Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Investment Bank | |||
Subsidiaries | Seori Second Securitization Specialty Co., Ltd. | |||
Main business | Asset securitization | |||
Percentage of ownership | 5.00% | |||
Location | Korea | |||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | ||
Bukgeum Second Securitization Specialty Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Investment Bank | |||
Subsidiaries | Bukgeum Second Securitization Specialty Co., Ltd. | |||
Main business | Asset securitization | |||
Percentage of ownership | 5.00% | |||
Location | Korea | |||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | ||
TUTU Finance-WCI Myanmar Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Card Co., Ltd. | Woori Card Co., Ltd. | ||
Subsidiaries | TUTU Finance-WCI Myanmar Co., Ltd. | TUTU Finance-WCI Myanmar Co., Ltd. | ||
Main business | Finance | Finance | ||
Percentage of ownership | 100.00% | 100.00% | ||
Location | Myanmar | Myanmar | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Woori Card one of 2017-1 Securitization Specialty Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Card Co., Ltd. | Woori Card Co., Ltd. | ||
Subsidiaries | Woori Card one of 2017-1 Securitization Specialty Co., Ltd. | Woori Card one of 2017-1 Securitization Specialty Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 0.50% | 0.50% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
Woori Card one of 2017-2 Securitization Specialty Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Card Co., Ltd. | Woori Card Co., Ltd. | ||
Subsidiaries | Woori Card one of 2017-2 Securitization Specialty Co., Ltd. | Woori Card one of 2017-2 Securitization Specialty Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership | 0.50% | 0.50% | ||
Location | Korea | Korea | ||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |
Woori Card one of 2018-1 Securitization Specialty Co Ltd [Member] | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Card Co., Ltd. | |||
Subsidiaries | Woori Card one of 2018-1 Securitization Specialty Co., Ltd. | |||
Main business | Asset securitization | |||
Percentage of ownership | 0.50% | |||
Location | Korea | |||
Financial statements as of (2018) | Dec. 31, 2018 | |||
Description of nature of relationship with subsidiary where parent has directly or indirectly less than half of voting power | [2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | ||
Money trust under the FISCM Act | ||||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 1,582,765 | ₩ 1,560,672 | ||
Liabilities | 1,552,594 | 1,530,760 | ||
Operating revenue | 54,860 | 44,344 | ||
Net income (loss) attributable to owners | 259 | 582 | ||
Comprehensive income (loss) attributable to owners | 259 | 582 | ||
Structured entity for the securitization of financial assets | ||||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | 1,369,745 | 867,583 | ||
Liabilities | 1,786,869 | 1,275,719 | ||
Operating revenue | 53,578 | 22,730 | ||
Net income (loss) attributable to owners | 4,990 | 1,179 | ||
Comprehensive income (loss) attributable to owners | (5,681) | (2,800) | ||
Structured entity for the investments in securities | ||||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | 63,676 | 34,939 | ||
Liabilities | 142 | 76 | ||
Operating revenue | 1,826 | 377 | ||
Net income (loss) attributable to owners | (1,299) | (475) | ||
Comprehensive income (loss) attributable to owners | ₩ (3,009) | ₩ (38,592) | ||
[1] | The entity was included in the list of subsidiaries as the Bank acquired more than 50% of the ownership interest. | |||
[2] | The entity is a structured entity for the purpose of asset securitization and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |||
[3] | The entity was removed from the list of subsidiaries as the control over the entity was lost during the current period. | |||
[4] | The entity is a structured entity for the purpose of investment in securities and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. | |||
[5] | The entity is a 'money trust' under the Financial Investment Services and Capital Markets Act and is in scope for consolidation. Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns. |
General_Unconsolidated companie
General_Unconsolidated companies with more than 50 Percent ownership interests (Details) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Golden Bridge NHN Online Private Equity Investment | |||
Disclosure of information about unconsolidated subsidiaries [Line Items] | |||
Name of subsidiary | Golden Bridge NHN Online Private Equity Investment | Golden Bridge NHN Online Private Equity Investment | |
Location | Korea | Korea | |
Main Business | Securities Investment | Securities Investment | |
Percentage of ownership | 60.00% | 60.00% | |
Description of reason why entity with more than half of voting power directly or indirectly owned which is not subsidiary due to absence of control | [1] | Since the investee is a private equity investment fund, the Group does not have the power over the fund's activities even though it holds more than 50% of ownership interest. | Since the investee is a private equity investment fund, the Group does not have the power over the fund's activities even though it holds more than 50% of ownership interest. |
Mirae Asset Seobu Underground Expressway Professional Investment | |||
Disclosure of information about unconsolidated subsidiaries [Line Items] | |||
Name of subsidiary | Mirae Asset Seobu Underground Expressway Professional Investment | ||
Location | Korea | ||
Main Business | Securities Investment | ||
Percentage of ownership | 65.80% | ||
Description of reason why entity with more than half of voting power directly or indirectly owned which is not subsidiary due to absence of control | [1] | Since the investee is a private equity investment fund, the Group does not have the power over the fund's activities even though it holds more than 50% of ownership interest. | |
Mirae Asset Maps Clean Water Private Equity Investment Trust 7th | |||
Disclosure of information about unconsolidated subsidiaries [Line Items] | |||
Name of subsidiary | Mirae Asset Maps Clean Water Private Equity Investment Trust 7th | Mirae Asset Maps Clean Water Private Equity Investment Trust 7th | |
Location | Korea | Korea | |
Main Business | Securities Investment | Securities Investment | |
Percentage of ownership | 59.70% | 59.70% | |
Description of reason why entity with more than half of voting power directly or indirectly owned which is not subsidiary due to absence of control | [1] | Since the investee is a private equity investment fund, the Group does not have the power over the fund's activities even though it holds more than 50% of ownership interest. | Since the investee is a private equity investment fund, the Group does not have the power over the fund's activities even though it holds more than 50% of ownership interest. |
Kiwoom Yonsei Private Equity Investment Trust | |||
Disclosure of information about unconsolidated subsidiaries [Line Items] | |||
Name of subsidiary | Kiwoom Yonsei Private Equity Investment Trust | Kiwoom Yonsei Private Equity Investment Trust | |
Location | Korea | Korea | |
Main Business | Securities Investment | Securities Investment | |
Percentage of ownership | 88.90% | 88.90% | |
Description of reason why entity with more than half of voting power directly or indirectly owned which is not subsidiary due to absence of control | [1] | Since the investee is a private equity investment fund, the Group does not have the power over the fund's activities even though it holds more than 50% of ownership interest. | Since the investee is a private equity investment fund, the Group does not have the power over the fund's activities even though it holds more than 50% of ownership interest. |
Hana Walmart Real Estate Investment Trust 41-1 | |||
Disclosure of information about unconsolidated subsidiaries [Line Items] | |||
Name of subsidiary | Hana Walmart Real Estate Investment Trust 41-1 | Hana Walmart Real Estate Investment Trust 41-1 | |
Location | Korea | Korea | |
Main Business | Securities Investment | Securities Investment | |
Percentage of ownership | 89.60% | 90.10% | |
Description of reason why entity with more than half of voting power directly or indirectly owned which is not subsidiary due to absence of control | [1] | Since the investee is a private equity investment fund, the Group does not have the power over the fund's activities even though it holds more than 50% of ownership interest. | Since the investee is a private equity investment fund, the Group does not have the power over the fund's activities even though it holds more than 50% of ownership interest. |
IGIS Global Private Placement Real Estate Fund No 163 2 [Member] | |||
Disclosure of information about unconsolidated subsidiaries [Line Items] | |||
Name of subsidiary | IGIS Europe Private Placement Real Estate Fund No. 163-2 | ||
Location | Korea | ||
Main Business | Securities Investment | ||
Percentage of ownership | 97.90% | ||
Description of reason why entity with more than half of voting power directly or indirectly owned which is not subsidiary due to absence of control | [1] | Since the investee is a private equity investment fund, the Group does not have the power over the fund's activities even though it holds more than 50% of ownership interest. | |
IGIS Global Private Placement Real Estate Fund No 148-1 | |||
Disclosure of information about unconsolidated subsidiaries [Line Items] | |||
Name of subsidiary | IGIS Global Private Placement Real Estate Fund No. 148-1 | IGIS Global Private Placement Real Estate Fund No. 148-1 | |
Location | Korea | Korea | |
Main Business | Securities Investment | Securities Investment | |
Percentage of ownership | 75.00% | 75.00% | |
Description of reason why entity with more than half of voting power directly or indirectly owned which is not subsidiary due to absence of control | [1] | Since the investee is a private equity investment fund, the Group does not have the power over the fund's activities even though it holds more than 50% of ownership interest. | Since the investee is a private equity investment fund, the Group does not have the power over the fund's activities even though it holds more than 50% of ownership interest. |
IGIS Global Private Placement Real Estate Fund No 148-2 | |||
Disclosure of information about unconsolidated subsidiaries [Line Items] | |||
Name of subsidiary | IGIS Global Private Placement Real Estate Fund No. 148-2 | IGIS Global Private Placement Real Estate Fund No. 148-2 | |
Location | Korea | Korea | |
Main Business | Securities Investment | Securities Investment | |
Percentage of ownership | 75.00% | 75.00% | |
Description of reason why entity with more than half of voting power directly or indirectly owned which is not subsidiary due to absence of control | [1] | Since the investee is a private equity investment fund, the Group does not have the power over the fund's activities even though it holds more than 50% of ownership interest. | Since the investee is a private equity investment fund, the Group does not have the power over the fund's activities even though it holds more than 50% of ownership interest. |
KB Nongso Sewage Treatment Equipment Private Special Asset [Member] | |||
Disclosure of information about unconsolidated subsidiaries [Line Items] | |||
Name of subsidiary | KB Nongso Sewage Treatment Equipment Private Special Asset | ||
Location | Korea | ||
Main Business | Securities Investment | ||
Percentage of ownership | 50.00% | ||
Description of reason why entity with more than half of voting power directly or indirectly owned which is not subsidiary due to absence of control | [1] | Since the investee is a private equity investment fund, the Group does not have the power over the fund's activities even though it holds more than 50% of ownership interest. | |
Mirae Asset Seoul Ring Expresway Private Special Asset Fund No. 1 | |||
Disclosure of information about unconsolidated subsidiaries [Line Items] | |||
Name of subsidiary | Mirae Asset Seoul Ring Expressway Private Special Asset Fund No. 1 | ||
Location | Korea | ||
Main Business | Securities Investment | ||
Percentage of ownership | 66.20% | ||
Description of reason why entity with more than half of voting power directly or indirectly owned which is not subsidiary due to absence of control | [1] | Since the investee is a private equity investment fund, the Group does not have the power over the fund's activities even though it holds more than 50% of ownership interest. | |
Hangkang Sewage Treament Plant Fund | |||
Disclosure of information about unconsolidated subsidiaries [Line Items] | |||
Name of subsidiary | Hangkang Sewage Treatment Plant Fund | ||
Location | Korea | ||
Main Business | Securities Investment | ||
Percentage of ownership | 55.60% | ||
Description of reason why entity with more than half of voting power directly or indirectly owned which is not subsidiary due to absence of control | [1] | Since the investee is a private equity investment fund, the Group does not have the power over the fund's activities even though it holds more than 50% of ownership interest. | |
Consus KyungJu Green Private Placement Real Estate Fund No. 1 | |||
Disclosure of information about unconsolidated subsidiaries [Line Items] | |||
Name of subsidiary | Consus KyungJu Green Private Placement Real Estate Fund No. 1 | ||
Location | Korea | ||
Main Business | Securities Investment | ||
Percentage of ownership | 52.40% | ||
Description of reason why entity with more than half of voting power directly or indirectly owned which is not subsidiary due to absence of control | [1] | Since the investee is a private equity investment fund, the Group does not have the power over the fund's activities even though it holds more than 50% of ownership interest. | |
[1] | Since the investee is a private equity investment fund, the Group does not have the power over the fund's activities even though it holds more than 50% of ownership interest. |
General_Limitations on transfer
General_Limitations on transfer of assets or the redemption of liabilities within the Group (Details) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Structured entity for asset securitization | ||
Disclosure of information about consolidated structured entities [Line Items] | ||
Description of terms of contractual arrangements that could require parent or subsidiaries to provide financial support to structured entity | The structured entity is established for the purpose of securitization of project financing loans, corporate bonds, and other financial assets. The Group is involved with the structured entity through providing with credit facility over asset-backed commercial papers issued by the entity, originating loans directly to the structured entity, or purchasing 100% of the subordinated debts issued by the structured entity. | The structured entity is established for the purpose of securitization of project financing loans, corporate bonds, and other financial assets. The Group is involved with the structured entity through providing with credit facility over asset-backed commercial papers issued by the entity, originating loans directly to the structured entity, or purchasing 100% of the subordinated debts issued by the structured entity. |
Structured entity for the investments in securities | ||
Disclosure of information about consolidated structured entities [Line Items] | ||
Description of terms of contractual arrangements that could require parent or subsidiaries to provide financial support to structured entity | The structured entity is established for the purpose of investments in securities. The Group acquires beneficiary certificates through its contribution of fund to the structured entity, and it is exposed to the risk that it may not be able to recover its fund depending on the result of investment performance of asset managers of the structured entity. | The structured entity is established for the purpose of investments in securities. The Group acquires beneficiary certificates through its contribution of fund to the structured entity, and it is exposed to the risk that it may not be able to recover its fund depending on the result of investment performance of asset managers of the structured entity. |
Money trust under the Financial Investment Services and Capital Markets Act | ||
Disclosure of information about consolidated structured entities [Line Items] | ||
Description of terms of contractual arrangements that could require parent or subsidiaries to provide financial support to structured entity | The Group provides with financial guarantee of principal and interest or solely principal to some of its trust products. Due to the financial guarantees, the Group may be obliged when the principal and interest or principal of the trust product sold is short of the guaranteed amount depending on the result of investment performance of the trust product. | The Group provides with financial guarantee of principal and interest or solely principal to some of its trust products. Due to the financial guarantees, the Group may be obliged when the principal and interest or principal of the trust product sold is short of the guaranteed amount depending on the result of investment performance of the trust product. |
General_Financial informations
General_Financial informations Maximum exposure and Loss recognised of unconsolidated structured entities (Details) - KRW (₩) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Asset securitization vehicle | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
The maximum exposure to risks | ₩ 3,252,329,000,000 | ₩ 4,032,531,000,000 |
Investments | 2,571,835,000,000 | 3,215,159,000,000 |
Credit facilities | 680,494,000,000 | 817,372,000,000 |
Loss recognized on unconsolidated structured entities | ₩ 5,764,000,000 | ₩ 837,000,000 |
Disclosure of information about interests in structured entity | Unconsolidated structured entities classified as 'asset securitization vehicles' are entities that issue asset-backed securities, pay the principal and interest or distributes dividends on asset-backed securities through borrowings or profits from the management, operation and sale of securitized assets. The Group transfers related risks from the purchase commitments of asset-backed securities or issuance of asset-backed securities through credit grants, and the structured entities recognize related interest or fee revenue. There are entities that provide additional fund and conditional debt acquisition commitment before the Group's financial support, but the Group is still exposed to losses arising from the purchase of financial assets issued by the structured entities when it fails to renew the securities. | Unconsolidated structured entities classified as 'asset securitization vehicles' are entities that issue asset-backed securities, pay the principal and interest or distributes dividends on asset-backed securities through borrowings or profits from the management, operation and sale of securitized assets. The Group transfers related risks from the purchase commitments of asset-backed securities or issuance of asset-backed securities through credit grants, and the structured entities recognize related interest or fee revenue. There are entities that provide additional fund and conditional debt acquisition commitment before the Group's financial support, but the Group is still exposed to losses arising from the purchase of financial assets issued by the structured entities when it fails to renew the securities. |
Asset securitization vehicle | Classes of assets [Domain] | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Total asset of the unconsolidated structured entities | ₩ 6,796,235,000,000 | ₩ 7,295,601,000,000 |
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 2,571,835,000,000 | 3,215,159,000,000 |
Asset securitization vehicle | Financial assets at FVTPL (IFRS 9) | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 285,156,000,000 | |
Asset securitization vehicle | Financial assets at FVTOCI | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 281,919,000,000 | |
Asset securitization vehicle | Financial assets at amortized cost | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 2,003,921,000,000 | |
Asset securitization vehicle | Loans and receivables | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 43,180,000,000 | |
Asset securitization vehicle | Financial assets held for trading | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 0 | |
Asset securitization vehicle | AFS financial assets | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 902,390,000,000 | |
Asset securitization vehicle | HTM financial assets | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 2,269,451,000,000 | |
Asset securitization vehicle | Investments in joint ventures and associates | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 0 | 0 |
Asset securitization vehicle | Derivative assets | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 839,000,000 | 138,000,000 |
Asset securitization vehicle | Liabilities [Domain] | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities | 1,260,000,000 | 1,433,000,000 |
Asset securitization vehicle | Derivative liabilities | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities | 116,000,000 | 575,000,000 |
Asset securitization vehicle | Other liabilities (including provisions) | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities | 1,144,000,000 | 858,000,000 |
Structured finance | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
The maximum exposure to risks | 3,408,271,000,000 | 2,918,448,000,000 |
Investments | 2,831,842,000,000 | 2,314,043,000,000 |
Credit facilities | 576,429,000,000 | 604,405,000,000 |
Loss recognized on unconsolidated structured entities | ₩ 11,609,000,000 | ₩ 3,939,000,000 |
Disclosure of information about interests in structured entity | Unconsolidated structured entities classified as 'structured financing' include real estate project financing investment vehicle, social overhead capital companies, and special purpose vehicles for ship (aircraft) financing. Each entity is incorporated as a separate company with a limited purpose in order to efficiently pursue business goals. 'Structured financing' is a financing method for large-scale risky business, with investments made based on feasibility of the specific business or project, instead of credit of business owner or physical collaterals. The investors receive profits from the operation of the business. The Group recognizes interest revenue, valuation gain or loss on ownership interest, or dividend income. With regard to uncertainties involving structured financing, there are entities that provide financial support such as additional fund, guarantees and prioritized credit grants prior to the Group's intervention, but the Group is exposed to possible losses due to loss of principal from reduction in investment value or irrecoverable loans arising from failure to collect scheduled cash flows and cessation of projects. | Unconsolidated structured entities classified as 'structured financing' include real estate project financing investment vehicle, social overhead capital companies, and special purpose vehicles for ship (aircraft) financing. Each entity is incorporated as a separate company with a limited purpose in order to efficiently pursue business goals. 'Structured financing' is a financing method for large-scale risky business, with investments made based on feasibility of the specific business or project, instead of credit of business owner or physical collaterals. The investors receive profits from the operation of the business. The Group recognizes interest revenue, valuation gain or loss on ownership interest, or dividend income. With regard to uncertainties involving structured financing, there are entities that provide financial support such as additional fund, guarantees and prioritized credit grants prior to the Group's intervention, but the Group is exposed to possible losses due to loss of principal from reduction in investment value or irrecoverable loans arising from failure to collect scheduled cash flows and cessation of projects. |
Structured finance | Classes of assets [Domain] | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Total asset of the unconsolidated structured entities | ₩ 58,161,494,000,000 | ₩ 40,172,830,000,000 |
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 2,831,842,000,000 | 2,314,043,000,000 |
Structured finance | Financial assets at FVTPL (IFRS 9) | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 70,219,000,000 | |
Structured finance | Financial assets at FVTOCI | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 48,961,000,000 | |
Structured finance | Financial assets at amortized cost | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 2,511,055,000,000 | |
Structured finance | Loans and receivables | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 1,969,760,000,000 | |
Structured finance | Financial assets held for trading | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 233,428,000,000 | |
Structured finance | AFS financial assets | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 106,819,000,000 | |
Structured finance | HTM financial assets | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 0 | |
Structured finance | Investments in joint ventures and associates | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 197,393,000,000 | 0 |
Structured finance | Derivative assets | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 4,214,000,000 | 4,036,000,000 |
Structured finance | Liabilities [Domain] | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities | 905,000,000 | 1,506,000,000 |
Structured finance | Derivative liabilities | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities | 248,000,000 | 968,000,000 |
Structured finance | Other liabilities (including provisions) | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities | 657,000,000 | 538,000,000 |
Investment Funds | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
The maximum exposure to risks | 1,587,325,000,000 | 1,138,523,000,000 |
Investments | 1,530,767,000,000 | 1,138,523,000,000 |
Credit facilities | 56,558,000,000 | 0 |
Loss recognized on unconsolidated structured entities | ₩ 13,868,000,000 | ₩ 5,993,000,000 |
Disclosure of information about interests in structured entity | Unconsolidated structured entities classified as 'investment funds' include investment trusts and private equity funds. An investment trust orders the investment and operation of funds to the trust manager in accordance with trust contract with profits distributed to the investors. Private equity funds finances money required to acquire equity securities to enable direction of management and/or improvement of ownership structure, with profit distributed to the investors. The Group recognizes pro rata amount of valuation gain or loss on investment and dividend income as an investor, and may be exposed to losses due to reduction in investment value. | Unconsolidated structured entities classified as 'investment funds' include investment trusts and private equity funds. An investment trust orders the investment and operation of funds to the trust manager in accordance with trust contract with profits distributed to the investors. Private equity funds finances money required to acquire equity securities to enable direction of management and/or improvement of ownership structure, with profit distributed to the investors. The Group recognizes pro rata amount of valuation gain or loss on investment and dividend income as an investor, and may be exposed to losses due to reduction in investment value. |
Investment Funds | Classes of assets [Domain] | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Total asset of the unconsolidated structured entities | ₩ 11,138,822,000,000 | ₩ 13,641,135,000,000 |
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 1,530,767,000,000 | 1,138,523,000,000 |
Investment Funds | Financial assets at FVTPL (IFRS 9) | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 1,197,844,000,000 | |
Investment Funds | Financial assets at FVTOCI | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 0 | |
Investment Funds | Financial assets at amortized cost | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 71,150,000,000 | |
Investment Funds | Loans and receivables | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 0 | |
Investment Funds | Financial assets held for trading | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 10,160,000,000 | |
Investment Funds | AFS financial assets | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 904,774,000,000 | |
Investment Funds | HTM financial assets | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 0 | |
Investment Funds | Investments in joint ventures and associates | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 261,773,000,000 | 223,589,000,000 |
Investment Funds | Derivative assets | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 0 | 0 |
Investment Funds | Liabilities [Domain] | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities | 0 | 0 |
Investment Funds | Derivative liabilities | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities | 0 | 0 |
Investment Funds | Other liabilities (including provisions) | ||
Disclosure of unconsolidated structured entities [Line Items] | ||
Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities | ₩ 0 | ₩ 0 |
General_Noncontrolling interest
General_Noncontrolling interests (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Woori Investment Bank | |||
Disclosure of significant investments in subsidiaries [Line Items] | |||
Accumulated non-controlling interests at the end of the reporting period | ₩ 130,088 | ₩ 119,111 | |
Net income attributable to non-controlling interests | 10,262 | 8,370 | ₩ 9,990 |
PT Bank Woori Saudara Indonesia 1906 Tbk | |||
Disclosure of significant investments in subsidiaries [Line Items] | |||
Accumulated non-controlling interests at the end of the reporting period | 68,250 | 64,877 | |
Net income attributable to non-controlling interests | 8,126 | 8,882 | 6,383 |
Dividends to non-controlling interests | 2,082 | 1,513 | 1,242 |
Wealth Development Bank | |||
Disclosure of significant investments in subsidiaries [Line Items] | |||
Accumulated non-controlling interests at the end of the reporting period | 16,557 | 16,778 | |
Net income attributable to non-controlling interests | ₩ 39 | ₩ 648 | ₩ 611 |
Significant basis of preparatio
Significant basis of preparation and accounting policies_Basis of presentation (Details) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting policies [Abstract] | |
Basis of preparation of financial statements | The Woori Financial Group Inc. and its subsidiaries (the "Group")'s consolidated financial statements are prepared in accordance with Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB"). |
Description of nature of financial statements | Consolidated Financial Statements |
Date of end of reporting period | Dec. 31, 2018 |
Period covered by financial statements | For the years ended December 31, 2018 |
Description of presentation currency | Korean Won |
Description of functional currency | Korean Won |
Level of rounding used in financial statements | in millions of Won |
Description of accounting policy for functional currency | The Group operates primarily in Korea and its official accounting records are maintained in Korean Won. |
Methods of translation used to determine supplementary information | The United States dollar ("U.S. dollar" or "US$" or "USD") amounts are provided herein as supplementary information solely for the convenience of readers outside Korea. Korean Won amounts are expressed in U.S. Dollars at the rate of 1,112.9 Korean Won to US$1.00, the noon buying exchange rate in effect on December 31, 2018, as quoted by the Federal Reserve Bank of New York in the United States. Such convenience translation into U.S. Dollars should not be construed as representations that Korean Won amounts have been, could have been, or could in the future be, converted at this or any other rate of exchange. |
Explanation of measurement bases used in preparing financial statements | The consolidated financial statements are prepared at the end of each reporting period in historical cost basis, except for certain non-current assets and financial assets that are either revalued or measured in fair value. Historical cost is generally measured at the fair value of consideration given to acquire assets. |
Significant basis of preparat_2
Significant basis of preparation and accounting policies_Newly adopted standards and interpretations that affected the Groups accounting policies (Details) ₩ in Millions | 12 Months Ended |
Dec. 31, 2018KRW (₩) | |
Adoption of IFRS 9 - Financial instruments(enacted) | |
Disclosure of initial application of standards or interpretations [Line Items] | |
Title of initially applied IFRS | Financial instruments |
Description whether change in accounting policy is made in accordance with transitional provisions of initially applied IFRS | The Group initially applied IFRS 9 and related amendments made to other standards during the current period, with January 1, 2018 as the date of initial application. IFRS 9 introduces new rules on: 1) classification and measurement of financial assets and financial liabilities, 2) impairment of financial assets, and 3) hedge accounting. Additionally, the Group adopted consequential amendments to IFRS 7 Financial Instruments: Disclosures that were applied to the disclosures for 2018. |
Description of nature of change in accounting policy | All financial assets included in the scope of IFRS 9 are subsequently measured at amortized cost or fair value based on the Group's business model for the management of financial assets and the nature of the contractual cash flows of the financial assets. |
Description of how and from when changes in accounting policies have been applied | The Group decided not to restate the prior period figures when applying the Standard for the first time, and as such the comparative consolidated financial statements are not restated. |
Adoption of IFRS 15 - Revenue from contracts with customers(enacted) | |
Disclosure of initial application of standards or interpretations [Line Items] | |
Title of initially applied IFRS | Revenue from contracts with customers |
Description whether change in accounting policy is made in accordance with transitional provisions of initially applied IFRS | The Group adopted the requirements using the modified retrospective method, with the effect of initial application recognized on the date of initial application and without restatement of the comparative periods. |
Description of how and from when changes in accounting policies have been applied | This standard is retroactively applied to contracts which are not completed as of the date of initial application, but practical expedient is used so that contract modifications made before the date of initial application are not retroactively restated. Accordingly, the Group has not retroactively restated the comparative consolidated financial statements presented herein. |
Financial impact on subsidiaries due to initial application of IFRS | ₩ 525,978 |
Amendments to IFRS 2 - Classification and Measurement of Share-based Payment Transactions | |
Disclosure of initial application of standards or interpretations [Line Items] | |
Title of initially applied IFRS | Classification and Measurement of Share-based Payment Transactions |
Description of nature of change in accounting policy | The amendments clarify that: 1) When measuring the fair value of share-based payment, the effects of vesting and non-vesting conditions on the measurement of cash-settled share-based payment should be consistent with the measurement of equity-settled share-based payment; 2) When an entity has an obligation to pay the employee's withholding tax to the tax authority for the employee's equity-settled share-based payment, the transaction shall be classified in its entirety as an equity-settled share-based payment transaction if it would have been so classified in the absence of the net settlement feature; and 3) When a cash-settled share-based payment changes to an equity-settled share-based payment because of modifications of the terms and conditions, the original liability recognized is derecognized and the equity-settled share-based payment is recognized at the modification date fair value. Any difference between the carrying amount of the liability at the modification date and the amount recognized in equity at the same date would be recognized in profit and loss immediately. |
Amendments to IAS 40 - Investment Property | |
Disclosure of initial application of standards or interpretations [Line Items] | |
Title of initially applied IFRS | Transfers of Investment Property |
Description of nature of change in accounting policy | The amendments clarify that a transfer to, or from, investment property necessitates an assessment of whether a property meets the definition of investment property, supported by observable evidence that a change in use has occurred. The amendments further clarify that the situations listed in IAS 40 are not exhaustive and that a change in use is possible for properties under construction (i.e. a change in use is not limited to completed properties). |
Amendments to IFRIC 22 - Foreign Currency Transactions and Advance Consideration | |
Disclosure of initial application of standards or interpretations [Line Items] | |
Title of initially applied IFRS | Foreign Currency Transactions and Advance Consideration |
Description of nature of change in accounting policy | The interpretation addresses how to determine the 'date of transaction' for the purpose of determining the exchange rate to use on initial recognition of an asset, expense or income (or part of them) as a result of the derecognition of a non-monetary asset or non-monetary liability (e.g., a non-refundable deposit or deferred revenue) which were previously recognized due to the fact that consideration was paid or received in advance in a foreign currency. |
Annual Improvements to IFRS 2014-2016 Cycle | |
Disclosure of initial application of standards or interpretations [Line Items] | |
Description of nature of change in accounting policy | The amendments include partial amendments to IFRS 1 'First-time Adoption of IFRS' and IAS 28 'Investments in Associates and Joint Ventures.' Amendments to IAS 28 provide that an investment company such as a venture capital investment vehicle may selectively designate each of its investment in associates and/or joint ventures to be measured at fair value through profit or loss mandatorily measured at fair value, and that such designation must be made at the time of each investment's initial recognition. In addition, when non-investment companies apply equity method to investment in associates and/or joint ventures that are investment companies, these companies may apply the same fair value measurement used by the said associates to value their own subsidiaries. This accounting treatment may be selectively applied to each associate. |
Significant basis of preparat_3
Significant basis of preparation and accounting policies_Details of reclassification and measurement of financial assets (Details) - KRW (₩) | Jan. 01, 2018 | Dec. 31, 2017 | |
Disclosure of financial assets at date of initial application of IFRS 9 [Line Items] | |||
Amount in accordance with IAS 39 | ₩ 306,941,042,000,000 | ||
Reclassification | ₩ 0 | ||
Remeasurement | [1] | 14,169,000,000 | |
Amount in accordance with IFRS 9 | 306,955,211,000,000 | ||
Deposit - Loans and receivables (IAS 39) - Loans and other financial assets at atamortized cost (IFRS 9) | |||
Disclosure of financial assets at date of initial application of IFRS 9 [Line Items] | |||
Classification in accordance with IAS 39 | Loans and receivables | ||
Amount in accordance with IAS 39 | ₩ 8,870,835,000,000 | ||
Reclassification | 0 | ||
Remeasurement | [1] | ₩ 0 | |
Classification in accordance with IFRS 9 | Loan and other financial assets at amortized cost | ||
Amount in accordance with IFRS 9 | ₩ 8,870,835,000,000 | ||
Description of remeasurement effect from first application of IFRS 9 | [1] | The remeasurement effect due to expected credit losses is not included (The remeasurement effect of expected credit losses is as follows: b) Impairment of financial assets). | |
Debt securities - AFS financial assets (IAS 39) - Securities at amortized cost (IFRS 9) | |||
Disclosure of financial assets at date of initial application of IFRS 9 [Line Items] | |||
Classification in accordance with IAS 39 | AFS financial assets | ||
Amount in accordance with IAS 39 | ₩ 308,181,000,000 | ||
Reclassification | ₩ 0 | ||
Remeasurement | [1] | ₩ 14,119,000,000 | |
Classification in accordance with IFRS 9 | Securities at amortized cost | ||
Amount in accordance with IFRS 9 | ₩ 322,300,000,000 | ||
Description of remeasurement effect from first application of IFRS 9 | [1] | The remeasurement effect due to expected credit losses is not included (The remeasurement effect of expected credit losses is as follows: b) Impairment of financial assets). | |
Debt securities - HTM financial assets (IAS 39) - Securities at amortized cost (IFRS 9) | |||
Disclosure of financial assets at date of initial application of IFRS 9 [Line Items] | |||
Classification in accordance with IAS 39 | HTM financial assets | ||
Amount in accordance with IAS 39 | ₩ 16,749,296,000,000 | ||
Reclassification | ₩ 0 | ||
Remeasurement | [1] | ₩ 0 | |
Classification in accordance with IFRS 9 | Securities at amortized cost | ||
Amount in accordance with IFRS 9 | ₩ 16,749,296,000,000 | ||
Description of remeasurement effect from first application of IFRS 9 | [1] | The remeasurement effect due to expected credit losses is not included (The remeasurement effect of expected credit losses is as follows: b) Impairment of financial assets). | |
Loans - Loans and receivables (IAS 39) - Loan and other financial assets at amortized cost (IFRS 9) | |||
Disclosure of financial assets at date of initial application of IFRS 9 [Line Items] | |||
Classification in accordance with IAS 39 | Loans and receivables | ||
Amount in accordance with IAS 39 | ₩ 253,014,491,000,000 | ||
Reclassification | ₩ 0 | ||
Remeasurement | [1] | ₩ 0 | |
Classification in accordance with IFRS 9 | Loan and other financial assets at amortized cost | ||
Amount in accordance with IFRS 9 | ₩ 253,014,491,000,000 | ||
Description of remeasurement effect from first application of IFRS 9 | [1] | The remeasurement effect due to expected credit losses is not included (The remeasurement effect of expected credit losses is as follows: b) Impairment of financial assets). | |
Other financial assets - Loans and receivables (IAS 39) - Loan and other financial assets at amortized cost (IFRS 9) | |||
Disclosure of financial assets at date of initial application of IFRS 9 [Line Items] | |||
Classification in accordance with IAS 39 | Loans and receivables | ||
Amount in accordance with IAS 39 | ₩ 6,772,088,000,000 | ||
Reclassification | ₩ 0 | ||
Remeasurement | [1] | ₩ 0 | |
Classification in accordance with IFRS 9 | Loan and other financial assets at amortized cost | ||
Amount in accordance with IFRS 9 | ₩ 6,772,088,000,000 | ||
Description of remeasurement effect from first application of IFRS 9 | [1] | The remeasurement effect due to expected credit losses is not included (The remeasurement effect of expected credit losses is as follows: b) Impairment of financial assets). | |
Deposit - Financial assets at FVTPL (IAS 39) - Financial assets at FVTPL (IFRS 9) | |||
Disclosure of financial assets at date of initial application of IFRS 9 [Line Items] | |||
Classification in accordance with IAS 39 | Financial assets at FVTPL | ||
Amount in accordance with IAS 39 | ₩ 25,972,000,000 | ||
Reclassification | ₩ 0 | ||
Remeasurement | [1] | ₩ 0 | |
Classification in accordance with IFRS 9 | Financial assets at FVTPL | ||
Amount in accordance with IFRS 9 | ₩ 25,972,000,000 | ||
Description of remeasurement effect from first application of IFRS 9 | [1] | The remeasurement effect due to expected credit losses is not included (The remeasurement effect of expected credit losses is as follows: b) Impairment of financial assets). | |
Debt securities - Financial assets at FVTPL (IAS 39) - Financial assets at FVTPL (IFRS 9) | |||
Disclosure of financial assets at date of initial application of IFRS 9 [Line Items] | |||
Classification in accordance with IAS 39 | Financial assets at FVTPL | ||
Amount in accordance with IAS 39 | ₩ 2,654,027,000,000 | ||
Reclassification | ₩ 0 | ||
Remeasurement | [1] | ₩ 0 | |
Classification in accordance with IFRS 9 | [2] | Financial assets at FVTPL | |
Amount in accordance with IFRS 9 | ₩ 2,654,027,000,000 | ||
Description of reclassification and measurement of embedded derivatives out of hybrid financial instruments | [2] | Under IAS 39, the embedded derivatives out of hybrid financial instruments were accounted for as derivative assets or liabilities if the criteria for separation of the embedded derivatives were met; and the host contracts in those instruments were recorded as available-for-sale financial assets or loans and receivables respectively. However, since IFRS 9 requires financial instruments to be accounted for based on the terms of the entire financial instrument, hybrid financial assets are revalued and classified as financial assets at fair value through profit or loss. | |
Description of remeasurement effect from first application of IFRS 9 | [1] | The remeasurement effect due to expected credit losses is not included (The remeasurement effect of expected credit losses is as follows: b) Impairment of financial assets). | |
Equity securities - Financial assets at FVTPL (IAS 39) - Financial assets at FVTPL (IFRS 9) | |||
Disclosure of financial assets at date of initial application of IFRS 9 [Line Items] | |||
Classification in accordance with IAS 39 | Financial assets at FVTPL | ||
Amount in accordance with IAS 39 | ₩ 47,304,000,000 | ||
Reclassification | ₩ 0 | ||
Remeasurement | [1] | ₩ 0 | |
Classification in accordance with IFRS 9 | [2] | Financial assets at FVTPL | |
Amount in accordance with IFRS 9 | ₩ 47,304,000,000 | ||
Description of reclassification and measurement of embedded derivatives out of hybrid financial instruments | [2] | Under IAS 39, the embedded derivatives out of hybrid financial instruments were accounted for as derivative assets or liabilities if the criteria for separation of the embedded derivatives were met; and the host contracts in those instruments were recorded as available-for-sale financial assets or loans and receivables respectively. However, since IFRS 9 requires financial instruments to be accounted for based on the terms of the entire financial instrument, hybrid financial assets are revalued and classified as financial assets at fair value through profit or loss. | |
Description of remeasurement effect from first application of IFRS 9 | [1] | The remeasurement effect due to expected credit losses is not included (The remeasurement effect of expected credit losses is as follows: b) Impairment of financial assets). | |
Derivative assets - Financial assets at FVTPL (IAS 39) - Financial assets at FVTPL (IFRS 9) | |||
Disclosure of financial assets at date of initial application of IFRS 9 [Line Items] | |||
Classification in accordance with IAS 39 | Financial assets at FVTPL | ||
Amount in accordance with IAS 39 | ₩ 3,115,775,000,000 | ||
Reclassification | ₩ (2,137,000,000) | ||
Remeasurement | [1] | ₩ 0 | |
Classification in accordance with IFRS 9 | [2] | Financial assets at FVTPL | |
Amount in accordance with IFRS 9 | ₩ 3,113,638,000,000 | ||
Description of reclassification and measurement of embedded derivatives out of hybrid financial instruments | [2] | Under IAS 39, the embedded derivatives out of hybrid financial instruments were accounted for as derivative assets or liabilities if the criteria for separation of the embedded derivatives were met; and the host contracts in those instruments were recorded as available-for-sale financial assets or loans and receivables respectively. However, since IFRS 9 requires financial instruments to be accounted for based on the terms of the entire financial instrument, hybrid financial assets are revalued and classified as financial assets at fair value through profit or loss. | |
Description of remeasurement effect from first application of IFRS 9 | [1] | The remeasurement effect due to expected credit losses is not included (The remeasurement effect of expected credit losses is as follows: b) Impairment of financial assets). | |
Equity securities - AFS financial assets (IAS 39) - Financial assets at FVTPL (IFRS 9) | |||
Disclosure of financial assets at date of initial application of IFRS 9 [Line Items] | |||
Classification in accordance with IAS 39 | AFS financial assets | ||
Amount in accordance with IAS 39 | ₩ 1,273,498,000,000 | ||
Reclassification | ₩ 1,219,000,000 | ||
Remeasurement | [1] | ₩ 0 | |
Classification in accordance with IFRS 9 | [2] | Financial assets at FVTPL | |
Amount in accordance with IFRS 9 | ₩ 1,274,717,000,000 | ||
Description of reclassification and measurement of embedded derivatives out of hybrid financial instruments | [2] | Under IAS 39, the embedded derivatives out of hybrid financial instruments were accounted for as derivative assets or liabilities if the criteria for separation of the embedded derivatives were met; and the host contracts in those instruments were recorded as available-for-sale financial assets or loans and receivables respectively. However, since IFRS 9 requires financial instruments to be accounted for based on the terms of the entire financial instrument, hybrid financial assets are revalued and classified as financial assets at fair value through profit or loss. | |
Description of remeasurement effect from first application of IFRS 9 | [1] | The remeasurement effect due to expected credit losses is not included (The remeasurement effect of expected credit losses is as follows: b) Impairment of financial assets). | |
Debt securities - AFS financial assets (IAS 39) - Financial assets at FVTPL (IFRS 9) | |||
Disclosure of financial assets at date of initial application of IFRS 9 [Line Items] | |||
Classification in accordance with IAS 39 | AFS financial assets | ||
Amount in accordance with IAS 39 | ₩ 46,855,000,000 | ||
Reclassification | ₩ 0 | ||
Remeasurement | [1] | ₩ 0 | |
Classification in accordance with IFRS 9 | Financial assets at FVTPL | ||
Amount in accordance with IFRS 9 | ₩ 46,855,000,000 | ||
Description of remeasurement effect from first application of IFRS 9 | [1] | The remeasurement effect due to expected credit losses is not included (The remeasurement effect of expected credit losses is as follows: b) Impairment of financial assets). | |
Loans - Loans and receivables (IAS 39) - Financial assets at FVTPL (IFRS 9) | |||
Disclosure of financial assets at date of initial application of IFRS 9 [Line Items] | |||
Classification in accordance with IAS 39 | Loans and receivables | ||
Amount in accordance with IAS 39 | ₩ 279,032,000,000 | ||
Reclassification | ₩ 918,000,000 | ||
Remeasurement | [1] | ₩ 50,000,000 | |
Classification in accordance with IFRS 9 | [2] | Financial assets at FVTPL | |
Amount in accordance with IFRS 9 | ₩ 280,000,000,000 | ||
Description of reclassification and measurement of embedded derivatives out of hybrid financial instruments | [2] | Under IAS 39, the embedded derivatives out of hybrid financial instruments were accounted for as derivative assets or liabilities if the criteria for separation of the embedded derivatives were met; and the host contracts in those instruments were recorded as available-for-sale financial assets or loans and receivables respectively. However, since IFRS 9 requires financial instruments to be accounted for based on the terms of the entire financial instrument, hybrid financial assets are revalued and classified as financial assets at fair value through profit or loss. | |
Description of remeasurement effect from first application of IFRS 9 | [1] | The remeasurement effect due to expected credit losses is not included (The remeasurement effect of expected credit losses is as follows: b) Impairment of financial assets). | |
Derivative assets (Designated for hedging) | |||
Disclosure of financial assets at date of initial application of IFRS 9 [Line Items] | |||
Classification in accordance with IAS 39 | Derivative assets (Designated for hedging) | ||
Amount in accordance with IAS 39 | ₩ 59,272,000,000 | ||
Reclassification | ₩ 0 | ||
Remeasurement | [1] | ₩ 0 | |
Classification in accordance with IFRS 9 | Derivative assets (Designated for hedging) | ||
Amount in accordance with IFRS 9 | ₩ 59,272,000,000 | ||
Description of remeasurement effect from first application of IFRS 9 | [1] | The remeasurement effect due to expected credit losses is not included (The remeasurement effect of expected credit losses is as follows: b) Impairment of financial assets). | |
Equity securities - AFS financial assets (IAS 39) - Financial assets at FVTOCI (IFRS 9) | |||
Disclosure of financial assets at date of initial application of IFRS 9 [Line Items] | |||
Classification in accordance with IAS 39 | AFS financial assets | ||
Amount in accordance with IAS 39 | ₩ 850,207,000,000 | ||
Reclassification | ₩ 0 | ||
Remeasurement | [1] | ₩ 0 | |
Classification in accordance with IFRS 9 | Financial assets at FVTOCI | ||
Amount in accordance with IFRS 9 | ₩ 850,207,000,000 | ||
Description of remeasurement effect from first application of IFRS 9 | [1] | The remeasurement effect due to expected credit losses is not included (The remeasurement effect of expected credit losses is as follows: b) Impairment of financial assets). | |
Debt securities - AFS financial assets (IAS 39) - Financial assets at FVTOCI (IFRS 9) | |||
Disclosure of financial assets at date of initial application of IFRS 9 [Line Items] | |||
Classification in accordance with IAS 39 | AFS financial assets | ||
Amount in accordance with IAS 39 | ₩ 12,874,209,000,000 | ||
Reclassification | ₩ 0 | ||
Remeasurement | [1] | ₩ 0 | |
Classification in accordance with IFRS 9 | Financial assets at FVTOCI | ||
Amount in accordance with IFRS 9 | ₩ 12,874,209,000,000 | ||
Description of remeasurement effect from first application of IFRS 9 | [1] | The remeasurement effect due to expected credit losses is not included (The remeasurement effect of expected credit losses is as follows: b) Impairment of financial assets). | |
[1] | The remeasurement effect due to expected credit losses is not included (The remeasurement effect of expected credit losses is as follows: b) Impairment of financial assets). | ||
[2] | Under IAS 39, the embedded derivatives out of hybrid financial instruments were accounted for as derivative assets or liabilities if the criteria for separation of the embedded derivatives were met; and the host contracts in those instruments were recorded as available-for-sale financial assets or loans and receivables respectively. However, since IFRS 9 requires financial instruments to be accounted for based on the terms of the entire financial instrument, hybrid financial assets are revalued and classified as financial assets at fair value through profit or loss. |
Significant basis of preparat_4
Significant basis of preparation and accounting policies_Details of reclassification and measurement of financial liabilities (Details) - KRW (₩) | Jan. 01, 2018 | Dec. 31, 2017 | |
Disclosure of financial liabilities at date of initial application of IFRS 9 [Line Items] | |||
Amount in accordance with IAS 39 | ₩ 294,809,262,000,000 | ||
Reclassification | ₩ 0 | ||
Remeasurement | [1] | 0 | |
Amount in accordance with IFRS 9 | 294,809,262,000,000 | ||
Deposit due to customers - Financial liabilities at amortized cost (IAS 39) - Financial liabilities at amortized cost (IFRS 9) | |||
Disclosure of financial liabilities at date of initial application of IFRS 9 [Line Items] | |||
Classification in accordance with IAS 39 | Financial liabilities at amortized cost | ||
Amount in accordance with IAS 39 | ₩ 234,695,084,000,000 | ||
Reclassification | 0 | ||
Remeasurement | [1] | ₩ 0 | |
Classification in accordance with IFRS 9 | Financial liabilities at amortized cost | ||
Amount in accordance with IFRS 9 | ₩ 234,695,084,000,000 | ||
Borrowings - Financial liabilities at amortized cost (IAS 39) - Financial liabilities at amortized cost (IFRS 9) | |||
Disclosure of financial liabilities at date of initial application of IFRS 9 [Line Items] | |||
Classification in accordance with IAS 39 | Financial liabilities at amortized cost | ||
Amount in accordance with IAS 39 | ₩ 14,784,706,000,000 | ||
Reclassification | 0 | ||
Remeasurement | [1] | ₩ 0 | |
Classification in accordance with IFRS 9 | Financial liabilities at amortized cost | ||
Amount in accordance with IFRS 9 | ₩ 14,784,706,000,000 | ||
Debentures - Financial liabilities at amortized cost (IAS 39) - Financial liabilities at amortized cost (IFRS 9) | |||
Disclosure of financial liabilities at date of initial application of IFRS 9 [Line Items] | |||
Classification in accordance with IAS 39 | Financial liabilities at amortized cost | ||
Amount in accordance with IAS 39 | ₩ 27,869,651,000,000 | ||
Reclassification | 0 | ||
Remeasurement | [1] | ₩ 0 | |
Classification in accordance with IFRS 9 | Financial liabilities at amortized cost | ||
Amount in accordance with IFRS 9 | ₩ 27,869,651,000,000 | ||
Other financial liabilities - Financial liabilities at amortized cost (IAS 39) - Financial liabilities at amortized cost (IFRS 9) | |||
Disclosure of financial liabilities at date of initial application of IFRS 9 [Line Items] | |||
Classification in accordance with IAS 39 | Financial liabilities at amortized cost | ||
Amount in accordance with IAS 39 | ₩ 13,892,461,000,000 | ||
Reclassification | 0 | ||
Remeasurement | [1] | ₩ 0 | |
Classification in accordance with IFRS 9 | Financial liabilities at amortized cost | ||
Amount in accordance with IFRS 9 | ₩ 13,892,461,000,000 | ||
Provision for financial guarantee - Provision (IAS 39) - Financial liabilities at amortized cost (IFRS 9) | |||
Disclosure of financial liabilities at date of initial application of IFRS 9 [Line Items] | |||
Classification in accordance with IAS 39 | Provision | ||
Amount in accordance with IAS 39 | ₩ 71,697,000,000 | ||
Reclassification | 0 | ||
Remeasurement | [1] | ₩ 0 | |
Classification in accordance with IFRS 9 | Financial liabilities at amortized cost | ||
Amount in accordance with IFRS 9 | ₩ 71,697,000,000 | ||
Deposit due to customers - Financial liabilities at FVTPL (IAS 39) - Financial liabilities at FVTPL (IFRS 9) | |||
Disclosure of financial liabilities at date of initial application of IFRS 9 [Line Items] | |||
Classification in accordance with IAS 39 | Financial liabilities at FVTPL | ||
Amount in accordance with IAS 39 | ₩ 25,964,000,000 | ||
Reclassification | 0 | ||
Remeasurement | [1] | ₩ 0 | |
Classification in accordance with IFRS 9 | Financial liabilities at FVTPL | ||
Amount in accordance with IFRS 9 | ₩ 25,964,000,000 | ||
Debentures - Financial liabilities at FVTPL (IAS 39) - Financial liabilities at FVTPL (IFRS 9) | |||
Disclosure of financial liabilities at date of initial application of IFRS 9 [Line Items] | |||
Classification in accordance with IAS 39 | Financial liabilities at FVTPL | ||
Amount in accordance with IAS 39 | ₩ 91,739,000,000 | ||
Reclassification | 0 | ||
Remeasurement | [1] | ₩ 0 | |
Classification in accordance with IFRS 9 | Financial liabilities at FVTPL | ||
Amount in accordance with IFRS 9 | ₩ 91,739,000,000 | ||
Equity-linked securities - Financial liabilities at FVTPL (IAS 39) - Financial liabilities at FVTPL (IFRS 9) | |||
Disclosure of financial liabilities at date of initial application of IFRS 9 [Line Items] | |||
Classification in accordance with IAS 39 | Financial liabilities at FVTPL | ||
Amount in accordance with IAS 39 | ₩ 160,057,000,000 | ||
Reclassification | 0 | ||
Remeasurement | [1] | ₩ 0 | |
Classification in accordance with IFRS 9 | Financial liabilities at FVTPL | ||
Amount in accordance with IFRS 9 | ₩ 160,057,000,000 | ||
Derivatives liabilities - Financial liabilities at FVTPL (IAS 39) - Financial liabilities at FVTPL (IFRS 9) | |||
Disclosure of financial liabilities at date of initial application of IFRS 9 [Line Items] | |||
Classification in accordance with IAS 39 | Financial liabilities at FVTPL | ||
Amount in accordance with IAS 39 | ₩ 3,150,149,000,000 | ||
Reclassification | 0 | ||
Remeasurement | [1] | ₩ 0 | |
Classification in accordance with IFRS 9 | Financial liabilities at FVTPL | ||
Amount in accordance with IFRS 9 | ₩ 3,150,149,000,000 | ||
Derivatives liabilities (Designated for hedging) | |||
Disclosure of financial liabilities at date of initial application of IFRS 9 [Line Items] | |||
Classification in accordance with IAS 39 | Derivatives liabilities (Designated for hedging) | ||
Amount in accordance with IAS 39 | ₩ 67,754,000,000 | ||
Reclassification | 0 | ||
Remeasurement | [1] | ₩ 0 | |
Classification in accordance with IFRS 9 | Derivatives liabilities (Designated for hedging) | ||
Amount in accordance with IFRS 9 | ₩ 67,754,000,000 | ||
[1] | The remeasurement effect due to expected credit losses is not included (The remeasurement effect of expected credit losses is as follows: b) Impairment of financial assets). |
Significant basis of preparat_5
Significant basis of preparation and accounting policies_K-IFRS 1109_estimated impact of adopting K-IFRS 1109 (Details) - AFS financial assets ₩ in Millions | 12 Months Ended | |
Dec. 31, 2018KRW (₩) | [1] | |
Reclassification and mearuement financial assets and financial liabilities at date of initial application of IFRS9 [Line Items] | ||
Fair value | ₩ 257,665 | |
Amount of valuation gain/loss had it not been reclassified | ₩ 2 | |
[1] | Those financial assets that are removed from the books as of December 31, 2018 are not presented in the table above. |
Basis of preparation and sign_4
Basis of preparation and significant accounting policies_Evaluation results of credit risk at the date of initial recognition of the financial instrument (Details) - KRW (₩) | Jan. 01, 2018 | Dec. 31, 2017 |
Initial application of impairment requirements for financial instruments [Line Items] | ||
Loss allowance in accordance with IAS 39 (A) | ₩ 2,079,605,000,000 | |
Increases (B-A) | ₩ 307,583,000,000 | |
Loss allowance in accordance with IFRS 9 (B) | ₩ 2,387,188,000,000 | |
Description of initial application of impairment requirements for financial instruments | The impairment model under IFRS 9 reflects expected credit losses, as opposed to incurred credit losses under IAS 39. Under the impairment approach in IFRS 9, it is no longer necessary for a credit event to have occurred before credit losses are recognized. Instead, the Group accounts for expected credit losses and changes in those expected credit losses. The amount of expected credit losses should be updated at each reporting date to reflect changes in credit risk since initial recognition. The Group is required to recognize the expected credit losses for financial instruments measured at amortized cost or FVTOCI (debt instrument), and unused loan commitments and financial guarantee contracts that are subject to the impairment provisions of IFRS 9. In particular, IFRS 9 requires the Group to measure the loss allowance for a financial instrument at an amount equal to the lifetime expected credit losses (ECL) if the credit risk on that financial instrument has increased significantly since initial recognition, or if the financial instrument is a purchased or originated credit-impaired financial asset. If the credit risk of a financial instruments does not increase significantly after initial recognition (excluding "purchased or originated credit-impaired loans" - for financial assets already impaired at initial recognition), the Group measures the loss allowance on the financial instruments at the amount equivalent to the expected 12-month credit loss. | |
Deposit - Loans and receivables (IAS 39) - Loans and other financial assets at atamortized cost (IFRS 9) | ||
Initial application of impairment requirements for financial instruments [Line Items] | ||
Loss allowance in accordance with IAS 39 (A) | 2,458,000,000 | |
Increases (B-A) | ₩ 634,000,000 | |
Loss allowance in accordance with IFRS 9 (B) | 3,092,000,000 | |
Debt securities - AFS financial assets (IAS 39) - Financial assets at FVTOCI (IFRS 9) | ||
Initial application of impairment requirements for financial instruments [Line Items] | ||
Loss allowance in accordance with IAS 39 (A) | 0 | |
Increases (B-A) | 4,236,000,000 | |
Loss allowance in accordance with IFRS 9 (B) | 4,236,000,000 | |
Debt securities - HTM financial assets (IAS 39) - Securities at amortized cost (IFRS 9) | ||
Initial application of impairment requirements for financial instruments [Line Items] | ||
Loss allowance in accordance with IAS 39 (A) | 0 | |
Increases (B-A) | 5,078,000,000 | |
Loss allowance in accordance with IFRS 9 (B) | 5,078,000,000 | |
Loans and other financial assets - Loans and receivables (IAS39) - Loans and other financial assets at amortized cost (IFRS9) | ||
Initial application of impairment requirements for financial instruments [Line Items] | ||
Loss allowance in accordance with IAS 39 (A) | 1,827,785,000,000 | |
Increases (B-A) | 249,088,000,000 | |
Loss allowance in accordance with IFRS 9 (B) | 2,076,873,000,000 | |
Payment guarantee | ||
Initial application of impairment requirements for financial instruments [Line Items] | ||
Loss allowance in accordance with IAS 39 (A) | 183,247,000,000 | |
Increases (B-A) | 9,677,000,000 | |
Loss allowance in accordance with IFRS 9 (B) | 192,924,000,000 | |
Loan commitment | ||
Initial application of impairment requirements for financial instruments [Line Items] | ||
Loss allowance in accordance with IAS 39 (A) | ₩ 66,115,000,000 | |
Increases (B-A) | 38,870,000,000 | |
Loss allowance in accordance with IFRS 9 (B) | ₩ 104,985,000,000 |
Basis of preparation and sign_5
Basis of preparation and significant accounting policies_Reclassification and measurement financial assets and financial liabilities at date of initial application of IFRS 9 (Details) - KRW (₩) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of reclassification and mearuement financial assets and financial liabilities at date of initial application of IFRS9 | ||
Information on how entity applied classification requirements in IFRS 9 to financial assets whose classification has changed as result of applying IFRS 9 | Debt instruments that are held within a business model whose objective is to collect the contractual cash flows, and that have contractual cash flows that are solely payments of principal and interest on the principal outstanding are generally measured at amortized cost at the end of subsequent accounting periods (financial assets at amortized cost). Debt instruments that are held within a business model whose objective is achieved both by collecting contractual cash flows and selling financial assets, and that have contractual terms that give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding, are generally measured at fair value through other comprehensive income (financial assets at fair value through other comprehensive income ("FVTOCI")) All other debt instruments and equity instruments are measured at their fair value at the end of subsequent accounting periods (financial assets at fair value through profit or loss ("FVTPL")). | |
Description of reasons for designation or de-designation of financial assets or financial liabilities as measured at fair value through profit or loss at date of initial application of IFRS 9 | At initial recognition, financial assets at amortized cost or FVTOCI may be irrevocably designated as financial assets at fair value through profit or loss mandatorily measured at fair value if doing so eliminate or significantly reduce a measurement or recognition inconsistency. | |
Debt instruments classified as financial assets at amortized cost | ₩ 0 | |
Debt instruments classified as FVOCI | 0 | |
Financial assets measured at FVTPL that were reclassified to FVTOCI or amortized cost category | 0 | |
Financial liabilities measured at FVTPL that were reclassified to FVTOCI or amortized cost category | 0 | |
Financial liabilities As of January 1, 2018 | 294,813,795,000,000 | |
Financial liabilities designated as at FVTPL As of January 1, 2018 | 251,796,000,000 | |
Accumulated other comprehensive loss in relation to the changes in credit risk of financial liabilities As of January 1, 2018 | ₩ (133,000,000) |
Significant basis of preparat_6
Significant basis of preparation and accounting policies_Effect on other comprehensive income at date of initial application of IFRS 9 (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Disclosure of effect on other comprehensive income at date of initial application of IFRS9 [Abstract] | |||||
Balance as of December 31, 2017 (prior to IFRS 9) | ₩ (89,723) | ₩ (572,210) | ₩ 173,368 | ₩ 102,020 | |
Changes in amount due to reclassification [Abstract] | |||||
Reclassification of available-for-sale financial assets to financial assets at FVTPL | (152,124) | ||||
Recognition of expected credit losses of debt securities at FVTOCI | 4,293 | ||||
Reclassification of available for sale financial assets(equity securities) to financial assets at FVTOCI | (397,508) | ||||
Effect on changes in credit risk of financial liabilities at fair value through profit or loss designated as upon initial recognition | (133) | ||||
Others | 3,499 | ||||
Income tax effect | 149,796 | ||||
Adjustments | (392,177) | ||||
Balance as of January 1, 2018 (based on IFRS 9) | [1] | ₩ (481,900) | |||
[1] | The beginning balance was adjusted in accordance with IFRS 9. |
Significant basis of preparat_7
Significant basis of preparation and accounting policies_Effect on retained earnings at date of initial application of IFRS 9 (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2017KRW (₩) | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2016KRW (₩) | |
Disclosure of effect on retained earnings at date of initial application of IFRS9 [Abstract] | ||||
Balance as of December 31, 2017 (prior to IFRS 9) | ₩ 15,620,006 | ₩ 17,124,657 | $ 15,387,418 | ₩ 14,611,566 |
Changes in amount due to reclassification [Abstract] | ||||
Reclassification of available-for-sale financial assets to financial assets at FVTPL | 152,124 | |||
Recognition of expected credit losses of debt instruments at FVTOCI | (4,293) | |||
Reclasification of available for sale financial assets(equity securities) to financial assets at FVTOCI | 397,508 | |||
Effect on revaluation of financial assets at amortized cost from loan and receivables or AFS financial assets | 282 | |||
Recognition of expected credit losses of financial assets at amortized cost which were previously loan and receivables | (240,683) | |||
Effect on provision for guarantees and unused commitments on liabilities | (48,548) | |||
Effect on changes in credit risk of financial liabilities at fair value through profit or loss designated as upon initial recognition | 133 | |||
Others | (4,950) | |||
Income tax effect | (74,482) | |||
Adjustments | 177,091 | |||
Balance as of January 1, 2018 (based on IFRS 9) | ₩ 15,797,097 |
Significant basis of preparat_8
Significant basis of preparation and accounting policies_Not applied IFRS issued but are not yet effective (Details) - Enactment of IFRS 16 Leases ₩ in Millions | 12 Months Ended |
Dec. 31, 2018KRW (₩) | |
Description of expected impact of initial application of new standards or interpretations [Line Items] | |
Title of new IFRS | IFRS 16 Leases |
Explanation of not applied new standards or interpretations | IFRS 16 will supersede the current lease guidance including IAS 17 Leases and the related interpretations, and will be applied to periods beginning on or after January 1, 2019. |
Description of nature of impending change in accounting policy | IFRS 16 distinguishes leases and service contracts on the basis of whether an identified asset is controlled by a customer. Distinctions of operating leases and finance leases are removed for lessee accounting, and is replaced by model where a right-of-use asset and corresponding liability have to be recognized for all leases by lessees except for short-term leases and leases of low value assets. The right-of-use asset is initially measured at cost and subsequently measured at cost (subject to certain exceptions) less accumulated depreciation and impairment losses, adjusted for any remeasurement of the lease liability. The lease liability is initially measured at the present value of the lease payments that are not paid at that date. Subsequently, the lease liability is adjusted for interest and lease payments, as well as the impact of lease modifications, amongst others. Furthermore, the classification of cash flows will also be affected as operating lease payments under IAS 17 are presented as operating cash flows; whereas under the IFRS 16 model, the lease payments will be split into a principal and an interest portion which will be presented as financing and operating cash flows respectively. In contrast to lessee accounting, IFRS 16 substantially carries forward the lessor accounting requirements in IAS 17, and continues to require a lessor to classify a lease either as an operating lease or a finance lease. Also, IFRS 16 requires expanded disclosures. |
Date by which application of new IFRS is required | Jan. 1, 2019 |
Date as at which entity plans to apply new IFRS initially | Jan. 1, 2019 |
Discussion of impact that initial application of IFRS is expected to have on financial statements | According to the preliminary assessment of the Group, the lease agreements entered into by the Group as of December 31, 2018 are expected to meet the definition of lease under the Standard, and accordingly, if the Group adopts the Standard, it applies to all leases except short-term leases and leases of low value assets, and the Group will recognize the right-of-use assets and related liabilities accordingly. The Group plans to apply modified retrospective approach as of January 1, 2019 in accordance with IFRS 16. Therefore, the cumulative effect of applying IFRS 16 will be adjusted in the retained earnings (or, where appropriate, other components of equity) at the date of initial application, and the comparative financial statements will not be restated. |
Financial impact on assets that initial application of IFRS is expected to have | ₩ 338,914 |
Financial impact on liabilities that initial application of IFRS is expected to have | ₩ 338,914 |
Description of enacted and amended standards not expected to affect the group | - IFRIC 23 - Uncertainty over Income Tax Treatments (enacted) - Amendments to IFRS 9 - Amendments to IAS 28 - Amendments to IAS 19 - Amendments to IFRS 15 - Annual Improvements to IFRS 2015-2017 Cycle These annual improvements contain partial amendments to IAS 12 'Income taxes', IAS 23 'Borrowing costs', IFRS 3(R) 'Business combinations' and IFRS 11 'Joint arrangements'. |
Significant basis of preparat_9
Significant basis of preparation and accounting policies_Estimated economic useful lives for premises and equipment except for land (Details) | 12 Months Ended |
Dec. 31, 2018 | |
Buildings used for business purpose | |
Disclosure of property plant and equipment [Line Items] | |
Useful life for property plant and equipment | 35 to 57 years |
Leasehold improvement | |
Disclosure of property plant and equipment [Line Items] | |
Useful life for property plant and equipment | 4 to 5 years |
Properties for business purpose | |
Disclosure of property plant and equipment [Line Items] | |
Useful life for property plant and equipment | 4 to 5 years |
Leased assets | |
Disclosure of property plant and equipment [Line Items] | |
Useful life for property plant and equipment | Useful lives of the same kind or similar other premises and equipment |
Significant basis of prepara_10
Significant basis of preparation and accounting policies_Estimated useful life for intangible assets (Details) | 12 Months Ended |
Dec. 31, 2018 | |
Industrial property rights | |
Disclosure of intangible assets with indefinite useful life [Line Items] | |
Useful life for intangible assets | 10 years |
Development costs | |
Disclosure of intangible assets with indefinite useful life [Line Items] | |
Useful life for intangible assets | 5 years |
Software, and others | |
Disclosure of intangible assets with indefinite useful life [Line Items] | |
Useful life for intangible assets | 4 to 5 years |
Significant accounting estima_4
Significant accounting estimates and assumptions _Estimates and assumptions (Details) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of changes in accounting estimates [Line Items] | |
Explanation of nature and amount of changes in estimates of amounts reported in prior interim periods or prior financial years | The significant accounting estimates and assumptions are continuously being evaluated based on numerous factors including historical experiences and expectations of future events considered to be reasonably possible. Actual results can differ from those estimates based on such definitions. The accounting estimates and assumptions that contain significant risk of materially changing current book values of assets and liabilities in the next accounting periods are as follows. |
Income taxes | |
Disclosure of changes in accounting estimates [Line Items] | |
Description of nature and amount of change in accounting estimate | The Group has recognized current and deferred taxes based on best estimates of expected future income tax effect arising from the Group's operations until the end of the current reporting period. However, actual tax payment may not be identical to the related assets and/or liabilities already recognized, and these differences may affect current taxes and deferred tax assets/liabilities at the time when income tax effects are finalized. Deferred tax assets relating to tax losses carried forward and deductible temporary differences are recognized only to the extent that it is probable that future taxable profit will be available against which the tax losses carried forward and the deductible temporary differences can be utilized. |
Description of fact that amount of change in accounting estimateIs impracticable | In this case the Group's evaluation considers various factors such as estimated future taxable profit based on forecasted operating results, which are based on historical financial performance. The Group is reviewing the book value of deferred tax assets every end of the reporting period and in the event that the possibility of earning future taxable income changes, the deferred tax assets are adjusted up to taxable income sufficient to use deductible temporary differences. |
Valuation of financial instruments | |
Disclosure of changes in accounting estimates [Line Items] | |
Description of nature and amount of change in accounting estimate | Financial assets at FVTPL and FVTOCI are recognized in the consolidated financial statements at fair value. All derivatives are measured at fair value. Valuation techniques are required in order to determine fair values of financial instruments where observable market prices do not exist. As described in Note 2-(9)-5), 'Fair value of financial assets and liabilities', when valuation techniques are used to determine the fair value of a financial instrument, various general and internally developed techniques are used, and various types of assumptions and variables are incorporated during the process. |
Description of fact that amount of change in accounting estimateIs impracticable | Financial instruments that are not actively traded and have low price transparency will have less objective fair value and require broad judgment in liquidity, concentration, uncertainty in market factors and assumption in price determination and other risks. |
Impairment of financial instruments | |
Disclosure of changes in accounting estimates [Line Items] | |
Description of nature and amount of change in accounting estimate | IFRS 9 requires entities to measure loss allowance equal to 12-month expected credit losses or lifetime expected credit losses after classifying financial assets into one of the three stages, which depends on the degree of increase in credit risk after their initial recognition. |
Defined benefit plan | |
Disclosure of changes in accounting estimates [Line Items] | |
Description of nature and amount of change in accounting estimate | The Group operates a defined benefit pension plan. Defined benefit obligation is calculated at every end of the reporting period by performing actuarial valuation, and estimation of assumptions such as discount rate, expected wage growth rate and mortality rate is required to perform such actuarial valuation. |
Description of fact that amount of change in accounting estimateIs impracticable | The defined benefit plan, due to its long-term nature, contains significant uncertainties in its estimates. |
Significant accounting estima_5
Significant accounting estimates and assumptions_Impairment of financial instruments (Details) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |
Description of how forward-looking information has been incorporated into determination of expected credit losses | The Group has estimated the allowance for credit losses based on reasonable and supportable information that was available without undue cost or effort at the reporting date about past events, current conditions and forecasts of future economic conditions. Probability of default (PD) and Loss given default (LGD) for each category of financial asset is being calculated by considering factors such as debtor type, credit rating and portfolio. The estimates are regularly being reviewed in order to reduce discrepancies with actual losses. Also, in measuring the expected credit losses, the Group is using reasonable and supportable macroeconomic indicators such as economic growth rates, interest rates, market index rates, etc., in order to forecast future economic conditions. The Group is conducting the following procedures to estimate and apply future economic forecast information. - Development of prediction models by analyzing the correlation between default rates of corporate and retail exposures per year and macroeconomic indicators - Calculation of predicted default rate incorporating future economic forecasts by applying estimated macroeconomic indicators provided by verified institutions such as Bank of Korea and National Assembly Budget Office to the prediction model developed. |
Information on how entity determined whether credit risk of financial instruments has increased significantly since initial recognition | At the end of every reporting period, the Group evaluates whether credit risk reflected forward-looking information has significantly been increased since the date of initial recognition. When evaluating whether credit risk has significantly been increased, the changes in the probability of default over the financial instrument's remaining life is used instead of changes in the amount of expected credit losses. The Group performs the above evaluation with distinctions made to corporate and retail exposures, and indicators of significant increase in credit risk are as follows: Asset quality level 'Precautionary' or lower, More than 30 days past due, 'Warning' level in early warning system, Debtor experiencing financial difficulties (Capital impairment, Adverse opinion or Disclaimer of opinion by external auditors) and Significant decrease in credit rating. Determining whether there has been a significant decrease in the credit rating of corporate and retail exposures applies only to credit ratings that are measured through 12-month expected credit loss. The Bank has applied the above indicators of significant decrease in credit rating since initial recognition as follows, and the estimation method is regularly being monitored. The Group sees no significant increase in credit risk after initial recognition for debt securities, etc. with a credit rating of A+ or higher, which are deemed to have low credit risk at the end of the reporting period. |
Information on how entity determined that financial assets are credit-impaired financial assets | The Group concludes that credit is impaired when financial assets are under conditions stated below: - When principal of loan is overdue for 90 days or longer due to significant deterioration in credit - For loans overdue for less than 90 days, when it is determined that not even a portion of the loan will be recovered unless claim actions such as disposal of collaterals are taken - When other objective indicators of impairment has been noted for the financial asset |
Information on entity's write-off policy | The Group determines which loan is subject to write-off in accordance with internal guidelines, and writes off loan receivables when it is determined that the loans are practically irrecoverable. For example, loans are practically irrecoverable when application is made for rehabilitation under the Debtor Rehabilitation and Bankruptcy Act and loans are confirmed as irrecoverable by the court's decision to waive debtor's obligation, or when it is impossible to recover the loan amount through legal means such as auctioning of debtor's assets or through any other means of recovery available. Notwithstanding the write-off, the Group may still exercise its right of collection after the asset has been written off in accordance with its collection policies. |
Stage 1 | |
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |
Description of basis of inputs and assumptions and estimation techniques used to measure 12-month and lifetime expected credit losses | Expected credit losses due to possible defaults on financial instruments within a 12-month period from the year-end. Credit risk may be considered to not have been significantly increased when credit risk is low at year-end. |
Description of basis of inputs and assumptions and estimation techniques used to determine whether credit risk of financial instruments have increased significantly since initial recognition | |
Lifetime expected credit losses | |
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |
Description of basis of inputs and assumptions and estimation techniques used to measure 12-month and lifetime expected credit losses | |
Stage 2 | |
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |
Description of basis of inputs and assumptions and estimation techniques used to determine whether credit risk of financial instruments have increased significantly since initial recognition | Expected credit losses from all possible defaults during the expected lifetime of the financial instruments |
Stage 3 | |
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |
Description of basis of inputs and assumptions and estimation techniques used to determine whether financial asset is credit-impaired financial asset | Expected credit losses from all possible defaults during the expected lifetime of the financial instruments |
Risk management_Maximum exposur
Risk management_Maximum exposure to credit risk (Details) | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | |
Categories of financial assets | ||||
Loans and other financial assets at amortized cost | [1] | ₩ 282,457,578,000,000 | $ 253,803,197,000 | ₩ 0 |
Securities at amortized cost | [1] | 22,932,559,000,000 | 20,606,127,000 | 0 |
Loans and receivables | [1] | 0 | 0 | 267,106,204,000,000 |
Financial assets at FVTPL (IAS 39) | 5,795,774,000,000 | |||
Financial assets at FVTPL (IFRS 9) | 4,262,619,000,000 | |||
AFS debt securities | 13,229,244,000,000 | |||
Financial assets at FVTOCI | [2] | 17,112,249,000,000 | ||
HTM securities | [1] | 0 | 0 | 16,749,296,000,000 |
Derivative assets (Designated for hedging) | 35,503,000,000 | $ 31,901,000 | 59,272,000,000 | |
Off balance sheet item | ||||
Off-balance accounts | 110,463,121,000,000 | 93,620,040,000,000 | ||
Total | 437,263,629,000,000 | 396,559,830,000,000 | ||
Korean treasury and government agencies | ||||
Categories of financial assets | ||||
Loans and other financial assets at amortized cost | 13,547,154,000,000 | 0 | ||
Banks | ||||
Categories of financial assets | ||||
Loans and other financial assets at amortized cost | 22,283,842,000,000 | 0 | ||
Corporates | ||||
Categories of financial assets | ||||
Loans and other financial assets at amortized cost | 96,627,671,000,000 | 0 | ||
Consumers | ||||
Categories of financial assets | ||||
Loans and other financial assets at amortized cost | 149,998,911,000,000 | 0 | ||
Korean treasury and government agencies | ||||
Categories of financial assets | ||||
Loans and receivables | 8,823,584,000,000 | |||
Banks | ||||
Categories of financial assets | ||||
Loans and receivables | 26,845,309,000,000 | |||
Corporates | ||||
Categories of financial assets | ||||
Loans and receivables | 90,570,551,000,000 | |||
Consumers | ||||
Categories of financial assets | ||||
Loans and receivables | 140,866,760,000,000 | |||
Deposits | ||||
Categories of financial assets | ||||
Financial assets at FVTPL (IFRS 9) | 26,935,000,000 | 0 | ||
Debt securities | ||||
Categories of financial assets | ||||
Financial assets at FVTPL (IFRS 9) | 1,824,155,000,000 | 0 | ||
Loans | ||||
Categories of financial assets | ||||
Financial assets at FVTPL (IFRS 9) | 385,450,000,000 | 0 | ||
Derivative assets | ||||
Categories of financial assets | ||||
Financial assets at FVTPL (IFRS 9) | 2,026,079,000,000 | 0 | ||
Deposits | ||||
Categories of financial assets | ||||
Financial assets at FVTPL (IAS 39) | 25,972,000,000 | |||
Debt securities | ||||
Categories of financial assets | ||||
Financial assets at FVTPL (IAS 39) | 2,644,333,000,000 | |||
Financial assets designated as at FVTPL | ||||
Categories of financial assets | ||||
Financial assets at FVTPL (IAS 39) | 9,694,000,000 | |||
Derivative assets | ||||
Categories of financial assets | ||||
Financial assets at FVTPL (IAS 39) | 3,115,775,000,000 | |||
Debt securities at FVTOCI | ||||
Categories of financial assets | ||||
Financial assets at FVTOCI | 0 | |||
Debt securities at amortized cost | ||||
Categories of financial assets | ||||
Securities at amortized cost | 0 | |||
Guarantees | ||||
Off balance sheet item | ||||
Off-balance accounts | 12,666,417,000,000 | 12,859,715,000,000 | ||
Unused loan commitments | ||||
Off balance sheet item | ||||
Off-balance accounts | ₩ 97,796,704,000,000 | ₩ 80,760,325,000,000 | ||
[1] | The consolidated statements of financial position as of December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of financial position as of December 31, 2017 were not retrospectively restated in accordance with IFRS 9. | |||
[2] | Financial assets at FVTOCI has been disclosed as the amount before deducting loss allowance because loss allowance does not reduce the carrying amount. |
Risk management_Credit risk exp
Risk management_Credit risk exposure by geographical areas (Details) | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | |
Categories of financial assets | ||||
Loans and other financial assets at amortized cost | [1] | ₩ 282,457,578,000,000 | $ 253,803,197,000 | ₩ 0 |
Securities at amortized cost | [1] | 22,932,559,000,000 | 20,606,127,000 | 0 |
Loans and receivables | [1] | 0 | 0 | 267,106,204,000,000 |
Financial assets at FVTPL (IAS 39) | 5,795,774,000,000 | |||
Financial assets at FVTPL (IFRS 9) | 4,262,619,000,000 | |||
AFS debt securities | 13,229,244,000,000 | |||
Financial assets at FVTOCI | [2] | 17,112,249,000,000 | ||
HTM securities | [1] | 0 | 0 | 16,749,296,000,000 |
Derivative assets (Designated for hedging) | 35,503,000,000 | $ 31,901,000 | 59,272,000,000 | |
Off balance sheet item | ||||
Off-balance accounts | 110,463,121,000,000 | 93,620,040,000,000 | ||
Total | 437,263,629,000,000 | 396,559,830,000,000 | ||
Korea | ||||
Categories of financial assets | ||||
Loans and other financial assets at amortized cost | 261,547,407,000,000 | |||
Securities at amortized cost | 22,757,048,000,000 | |||
Loans and receivables | 250,678,479,000,000 | |||
Financial assets at FVTPL (IAS 39) | 5,551,870,000,000 | |||
Financial assets at FVTPL (IFRS 9) | 4,261,110,000,000 | |||
AFS debt securities | 12,407,602,000,000 | |||
Financial assets at FVTOCI | 15,697,518,000,000 | |||
HTM securities | 16,606,692,000,000 | |||
Derivative assets (Designated for hedging) | 35,503,000,000 | 16,590,000,000 | ||
Off balance sheet item | ||||
Off-balance accounts | 107,632,858,000,000 | 91,603,852,000,000 | ||
Total | 411,931,444,000,000 | 376,865,085,000,000 | ||
China | ||||
Categories of financial assets | ||||
Loans and other financial assets at amortized cost | 4,592,153,000,000 | |||
Securities at amortized cost | 0 | |||
Loans and receivables | 4,104,912,000,000 | |||
Financial assets at FVTPL (IAS 39) | 2,937,000,000 | |||
Financial assets at FVTPL (IFRS 9) | 1,243,000,000 | |||
AFS debt securities | 52,259,000,000 | |||
Financial assets at FVTOCI | 261,085,000,000 | |||
HTM securities | 0 | |||
Derivative assets (Designated for hedging) | 0 | 0 | ||
Off balance sheet item | ||||
Off-balance accounts | 801,978,000,000 | 529,193,000,000 | ||
Total | 5,656,459,000,000 | 4,689,301,000,000 | ||
USA | ||||
Categories of financial assets | ||||
Loans and other financial assets at amortized cost | 4,597,119,000,000 | |||
Securities at amortized cost | 70,578,000,000 | |||
Loans and receivables | 2,823,247,000,000 | |||
Financial assets at FVTPL (IAS 39) | 0 | |||
Financial assets at FVTPL (IFRS 9) | 0 | |||
AFS debt securities | 151,131,000,000 | |||
Financial assets at FVTOCI | 103,755,000,000 | |||
HTM securities | 63,732,000,000 | |||
Derivative assets (Designated for hedging) | 0 | 0 | ||
Off balance sheet item | ||||
Off-balance accounts | 343,323,000,000 | 172,570,000,000 | ||
Total | 5,114,775,000,000 | 3,210,680,000,000 | ||
UK | ||||
Categories of financial assets | ||||
Loans and other financial assets at amortized cost | 1,526,532,000,000 | |||
Securities at amortized cost | 0 | |||
Loans and receivables | 1,094,988,000,000 | |||
Financial assets at FVTPL (IAS 39) | 148,955,000,000 | |||
Financial assets at FVTPL (IFRS 9) | 0 | |||
AFS debt securities | 0 | |||
Financial assets at FVTOCI | 24,960,000,000 | |||
HTM securities | 0 | |||
Derivative assets (Designated for hedging) | 0 | 42,682,000,000 | ||
Off balance sheet item | ||||
Off-balance accounts | 136,727,000,000 | 66,974,000,000 | ||
Total | 1,688,219,000,000 | 1,353,599,000,000 | ||
Japan | ||||
Categories of financial assets | ||||
Loans and other financial assets at amortized cost | 893,354,000,000 | |||
Securities at amortized cost | 0 | |||
Loans and receivables | 381,890,000,000 | |||
Financial assets at FVTPL (IAS 39) | 0 | |||
Financial assets at FVTPL (IFRS 9) | 266,000,000 | |||
AFS debt securities | 0 | |||
Financial assets at FVTOCI | 2,247,000,000 | |||
HTM securities | 0 | |||
Derivative assets (Designated for hedging) | 0 | 0 | ||
Off balance sheet item | ||||
Off-balance accounts | 35,000,000,000 | 25,039,000,000 | ||
Total | 930,867,000,000 | 406,929,000,000 | ||
Others | ||||
Categories of financial assets | ||||
Loans and other financial assets at amortized cost | [3] | 9,301,013,000,000 | ||
Securities at amortized cost | [3] | 104,933,000,000 | ||
Loans and receivables | [3] | 8,022,688,000,000 | ||
Financial assets at FVTPL (IAS 39) | [3] | 92,012,000,000 | ||
Financial assets at FVTPL (IFRS 9) | [3] | 0 | ||
AFS debt securities | [3] | 618,252,000,000 | ||
Financial assets at FVTOCI | [3] | 1,022,684,000,000 | ||
HTM securities | [3] | 78,872,000,000 | ||
Derivative assets (Designated for hedging) | [3] | 0 | 0 | |
Off balance sheet item | ||||
Off-balance accounts | [3] | 1,513,235,000,000 | 1,222,412,000,000 | |
Total | [3] | ₩ 11,941,865,000,000 | ₩ 10,034,236,000,000 | |
[1] | The consolidated statements of financial position as of December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of financial position as of December 31, 2017 were not retrospectively restated in accordance with IFRS 9. | |||
[2] | Financial assets at FVTOCI has been disclosed as the amount before deducting loss allowance because loss allowance does not reduce the carrying amount. | |||
[3] | Others consist of financial assets in Indonesia, Hong Kong, Singapore, and other countries. |
Risk management_Credit risk e_2
Risk management_Credit risk exposure by industries (Details) | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | |
Categories of financial assets | ||||
Loans and other financial assets at amortized cost | [1] | ₩ 282,457,578,000,000 | $ 253,803,197,000 | ₩ 0 |
Securities at amortized cost | [1] | 22,932,559,000,000 | 20,606,127,000 | 0 |
Loans and receivables | [1] | 0 | 0 | 267,106,204,000,000 |
Financial assets at FVTPL (IAS 39) | 5,795,774,000,000 | |||
Financial assets at FVTPL (IFRS 9) | 4,262,619,000,000 | |||
AFS debt securities | 13,229,244,000,000 | |||
Financial assets at FVTOCI | [2] | 17,112,249,000,000 | ||
HTM securities | [1] | 0 | 0 | 16,749,296,000,000 |
Derivative assets (Designated for hedging) | 35,503,000,000 | $ 31,901,000 | 59,272,000,000 | |
Off balance sheet item | ||||
Off-balance accounts | 110,463,121,000,000 | 93,620,040,000,000 | ||
Total | 437,263,629,000,000 | 396,559,830,000,000 | ||
Service | ||||
Categories of financial assets | ||||
Loans and other financial assets at amortized cost | 48,319,987,000,000 | |||
Securities at amortized cost | 1,157,512,000,000 | |||
Loans and receivables | 47,192,641,000,000 | |||
Financial assets at FVTPL (IAS 39) | 100,766,000,000 | |||
Financial assets at FVTPL (IFRS 9) | 120,659,000,000 | |||
AFS debt securities | 707,737,000,000 | |||
Financial assets at FVTOCI | 382,409,000,000 | |||
HTM securities | 1,348,754,000,000 | |||
Derivative assets (Designated for hedging) | 0 | |||
Off balance sheet item | ||||
Off-balance accounts | 17,645,104,000,000 | 16,892,926,000,000 | ||
Total | 67,625,671,000,000 | 66,242,824,000,000 | ||
Manufacturing | ||||
Categories of financial assets | ||||
Loans and other financial assets at amortized cost | 34,972,072,000,000 | |||
Securities at amortized cost | 0 | |||
Loans and receivables | 34,502,509,000,000 | |||
Financial assets at FVTPL (IAS 39) | 83,239,000,000 | |||
Financial assets at FVTPL (IFRS 9) | 153,159,000,000 | |||
AFS debt securities | 37,719,000,000 | |||
Financial assets at FVTOCI | 109,749,000,000 | |||
HTM securities | 0 | |||
Derivative assets (Designated for hedging) | 0 | |||
Off balance sheet item | ||||
Off-balance accounts | 22,300,388,000,000 | 21,427,378,000,000 | ||
Total | 57,535,368,000,000 | 56,050,845,000,000 | ||
Finance and insurance | ||||
Categories of financial assets | ||||
Loans and other financial assets at amortized cost | 40,338,823,000,000 | |||
Securities at amortized cost | 13,414,743,000,000 | |||
Loans and receivables | 38,260,051,000,000 | |||
Financial assets at FVTPL (IAS 39) | 4,640,068,000,000 | |||
Financial assets at FVTPL (IFRS 9) | 3,117,845,000,000 | |||
AFS debt securities | 7,331,774,000,000 | |||
Financial assets at FVTOCI | 13,017,646,000,000 | |||
HTM securities | 10,962,149,000,000 | |||
Derivative assets (Designated for hedging) | 35,503,000,000 | 59,272,000,000 | ||
Off balance sheet item | ||||
Off-balance accounts | 9,654,685,000,000 | 9,841,379,000,000 | ||
Total | 79,579,245,000,000 | 71,094,693,000,000 | ||
Construction | ||||
Categories of financial assets | ||||
Loans and other financial assets at amortized cost | 3,295,967,000,000 | |||
Securities at amortized cost | 527,847,000,000 | |||
Loans and receivables | 3,574,746,000,000 | |||
Financial assets at FVTPL (IAS 39) | 15,073,000,000 | |||
Financial assets at FVTPL (IFRS 9) | 16,118,000,000 | |||
AFS debt securities | 153,534,000,000 | |||
Financial assets at FVTOCI | 224,665,000,000 | |||
HTM securities | 296,214,000,000 | |||
Derivative assets (Designated for hedging) | 0 | |||
Off balance sheet item | ||||
Off-balance accounts | 4,146,708,000,000 | 3,842,479,000,000 | ||
Total | 8,211,305,000,000 | 7,882,046,000,000 | ||
Individuals | ||||
Categories of financial assets | ||||
Loans and other financial assets at amortized cost | 145,715,074,000,000 | |||
Securities at amortized cost | 0 | |||
Loans and receivables | 133,094,287,000,000 | |||
Financial assets at FVTPL (IAS 39) | 1,040,000,000 | |||
Financial assets at FVTPL (IFRS 9) | 7,614,000,000 | |||
AFS debt securities | 0 | |||
Financial assets at FVTOCI | 5,535,000,000 | |||
HTM securities | 0 | |||
Derivative assets (Designated for hedging) | 0 | |||
Off balance sheet item | ||||
Off-balance accounts | 49,948,865,000,000 | 36,928,554,000,000 | ||
Total | 195,677,088,000,000 | 170,023,881,000,000 | ||
Others | ||||
Categories of financial assets | ||||
Loans and other financial assets at amortized cost | 9,815,655,000,000 | |||
Securities at amortized cost | 7,832,457,000,000 | |||
Loans and receivables | 10,481,970,000,000 | |||
Financial assets at FVTPL (IAS 39) | 955,588,000,000 | |||
Financial assets at FVTPL (IFRS 9) | 847,224,000,000 | |||
AFS debt securities | 4,998,480,000,000 | |||
Financial assets at FVTOCI | 3,372,245,000,000 | |||
HTM securities | 4,142,179,000,000 | |||
Derivative assets (Designated for hedging) | 0 | |||
Off balance sheet item | ||||
Off-balance accounts | 6,767,371,000,000 | 4,687,324,000,000 | ||
Total | ₩ 28,634,952,000,000 | ₩ 25,265,541,000,000 | ||
[1] | The consolidated statements of financial position as of December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of financial position as of December 31, 2017 were not retrospectively restated in accordance with IFRS 9. | |||
[2] | Financial assets at FVTOCI has been disclosed as the amount before deducting loss allowance because loss allowance does not reduce the carrying amount. |
Risk Management_Credit exposure
Risk Management_Credit exposure of loans and receivables by customer and loan classification (Details) | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | |
Disclosure of credit risk exposure [Line Items] | ||||
Total net | [1] | ₩ 0 | $ 0 | ₩ 267,106,204,000,000 |
Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 268,936,446,000,000 | |||
Loss allowance | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 1,830,242,000,000 | |||
Loans and receivables neither overdue nor impaired | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 265,692,069,000,000 | |||
Loans and receivables overdue but not impaired | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 1,007,097,000,000 | |||
Impaired loans and receivables | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 2,237,280,000,000 | |||
Korean treasury and government agencies | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 8,823,584,000,000 | |||
Korean treasury and government agencies | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 8,825,775,000,000 | |||
Korean treasury and government agencies | Loss allowance | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 2,191,000,000 | |||
Korean treasury and government agencies | Loans and receivables neither overdue nor impaired | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 8,825,767,000,000 | |||
Korean treasury and government agencies | Loans and receivables overdue but not impaired | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 8,000,000 | |||
Korean treasury and government agencies | Impaired loans and receivables | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 0 | |||
Banks | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 26,845,309,000,000 | |||
Banks | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 26,861,286,000,000 | |||
Banks | Loss allowance | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 15,977,000,000 | |||
Banks | Loans and receivables neither overdue nor impaired | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 26,861,286,000,000 | |||
Banks | Loans and receivables overdue but not impaired | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 0 | |||
Banks | Impaired loans and receivables | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 0 | |||
Corporates | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 90,570,551,000,000 | |||
Corporates | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 91,947,571,000,000 | |||
Corporates | Loss allowance | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 1,377,020,000,000 | |||
Corporates | Loans and receivables neither overdue nor impaired | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 90,118,609,000,000 | |||
Corporates | Loans and receivables overdue but not impaired | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 128,683,000,000 | |||
Corporates | Impaired loans and receivables | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 1,700,279,000,000 | |||
General business | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 50,852,126,000,000 | |||
General business | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 51,930,859,000,000 | |||
General business | Loss allowance | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 1,078,733,000,000 | |||
General business | Loans and receivables neither overdue nor impaired | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 50,463,112,000,000 | |||
General business | Loans and receivables overdue but not impaired | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 65,616,000,000 | |||
General business | Impaired loans and receivables | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 1,402,131,000,000 | |||
Small and medium sized enterprise | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 34,154,883,000,000 | |||
Small and medium sized enterprise | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 34,422,045,000,000 | |||
Small and medium sized enterprise | Loss allowance | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 267,162,000,000 | |||
Small and medium sized enterprise | Loans and receivables neither overdue nor impaired | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 34,107,547,000,000 | |||
Small and medium sized enterprise | Loans and receivables overdue but not impaired | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 63,067,000,000 | |||
Small and medium sized enterprise | Impaired loans and receivables | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 251,431,000,000 | |||
Project financing and others | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 5,563,542,000,000 | |||
Project financing and others | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 5,594,667,000,000 | |||
Project financing and others | Loss allowance | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 31,125,000,000 | |||
Project financing and others | Loans and receivables neither overdue nor impaired | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 5,547,950,000,000 | |||
Project financing and others | Loans and receivables overdue but not impaired | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 0 | |||
Project financing and others | Impaired loans and receivables | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 46,717,000,000 | |||
Consumers | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 140,866,760,000,000 | |||
Consumers | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 141,301,814,000,000 | |||
Consumers | Loss allowance | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 435,054,000,000 | |||
Consumers | Loans and receivables neither overdue nor impaired | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 139,886,407,000,000 | |||
Consumers | Loans and receivables overdue but not impaired | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | 878,406,000,000 | |||
Consumers | Impaired loans and receivables | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total net | ₩ 537,001,000,000 | |||
[1] | The consolidated statements of financial position as of December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of financial position as of December 31, 2017 were not retrospectively restated in accordance with IFRS 9. |
Risk Management_Credit soundnes
Risk Management_Credit soundness of debt securities (Details) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2017KRW (₩) | ||
Disclosure of credit risk exposure [Line Items] | ||
Financial assets at FVTPL | ₩ 2,654,027 | [1] |
AFS debt securities | 13,229,244 | |
HTM securities | 16,749,296 | |
Total | ₩ 32,632,567 | |
Description of rating agencies used | The Group manages debt securities based on the external credit rating. Credit soundness of debt securities on the basis of External Credit Assessment Institution (ECAI)'s rating | |
AAA | ||
Disclosure of credit risk exposure [Line Items] | ||
Financial assets at FVTPL | ₩ 1,685,099 | [1] |
AFS debt securities | 9,897,689 | |
HTM securities | 15,806,327 | |
Total | 27,389,115 | |
From AA minus to AA plus | ||
Disclosure of credit risk exposure [Line Items] | ||
Financial assets at FVTPL | 722,923 | [1] |
AFS debt securities | 2,386,567 | |
HTM securities | 888,547 | |
Total | 3,998,037 | |
From BBB minus to A plus | ||
Disclosure of credit risk exposure [Line Items] | ||
Financial assets at FVTPL | 236,311 | [1] |
AFS debt securities | 876,482 | |
HTM securities | 52,188 | |
Total | 1,164,981 | |
Below BBB minus | ||
Disclosure of credit risk exposure [Line Items] | ||
Financial assets at FVTPL | 9,694 | [1] |
AFS debt securities | 68,506 | |
HTM securities | 2,234 | |
Total | ₩ 80,434 | |
[1] | Financial assets at FVTPL comprise debt securities held for trading and financial assets designated as at FVTPL. |
Risk Management_Credit quality
Risk Management_Credit quality of financial assets items (Details) $ in Thousands | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | |
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [1] | ₩ 282,457,578,000,000 | $ 253,803,197 | ₩ 0 |
Securities at amortized cost | [1] | 22,932,559,000,000 | $ 20,606,127 | 0 |
Financial assets at FVTOCI | [2] | 17,112,249,000,000 | ||
Total | 322,502,386,000,000 | |||
Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total | 324,360,715,000,000 | |||
Collateral value | 172,864,138,000,000 | |||
Loss allowance | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total | (1,864,506,000,000) | |||
Stage 1 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Collateral value | 163,329,105,000,000 | |||
Stage 1 | Above appropriate credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total | [3] | 292,800,879,000,000 | ||
Stage 1 | Less than a limited credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total | [4] | 17,770,858,000,000 | ||
Stage 2 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Collateral value | 8,836,440,000,000 | |||
Stage 2 | Above appropriate credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total | [5] | 6,355,730,000,000 | ||
Stage 2 | Less than a limited credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total | [4] | 5,739,850,000,000 | ||
Stage 3 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Total | 1,693,398,000,000 | |||
Collateral value | 698,593,000,000 | |||
Loans and other financial assets at amortized cost | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | 284,308,982,000,000 | |||
Collateral value | 172,864,138,000,000 | |||
Loans and other financial assets at amortized cost | Loss allowance | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | (1,851,404,000,000) | |||
Loans and other financial assets at amortized cost | Stage 1 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Collateral value | 163,329,105,000,000 | |||
Loans and other financial assets at amortized cost | Stage 1 | Above appropriate credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [3] | 252,921,186,000,000 | ||
Loans and other financial assets at amortized cost | Stage 1 | Less than a limited credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [4] | 17,624,416,000,000 | ||
Loans and other financial assets at amortized cost | Stage 2 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Collateral value | 8,836,440,000,000 | |||
Loans and other financial assets at amortized cost | Stage 2 | Above appropriate credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [5] | 6,330,382,000,000 | ||
Loans and other financial assets at amortized cost | Stage 2 | Less than a limited credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [4] | 5,739,850,000,000 | ||
Loans and other financial assets at amortized cost | Stage 3 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | 1,693,148,000,000 | |||
Collateral value | 698,593,000,000 | |||
Korean treasury and government agencies | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | 13,547,154,000,000 | 0 | ||
Korean treasury and government agencies | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | 13,550,315,000,000 | |||
Collateral value | 11,600,000,000 | |||
Korean treasury and government agencies | Loss allowance | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | (3,161,000,000) | |||
Korean treasury and government agencies | Stage 1 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Collateral value | 11,600,000,000 | |||
Korean treasury and government agencies | Stage 1 | Above appropriate credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [3] | 13,549,305,000,000 | ||
Korean treasury and government agencies | Stage 1 | Less than a limited credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [4] | 1,009,000,000 | ||
Korean treasury and government agencies | Stage 2 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Collateral value | 0 | |||
Korean treasury and government agencies | Stage 2 | Above appropriate credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [5] | 1,000,000 | ||
Korean treasury and government agencies | Stage 2 | Less than a limited credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [4] | 0 | ||
Korean treasury and government agencies | Stage 3 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | 0 | |||
Collateral value | 0 | |||
Banks | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | 22,283,842,000,000 | 0 | ||
Banks | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | 22,311,618,000,000 | |||
Collateral value | 364,358,000,000 | |||
Banks | Loss allowance | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | (27,776,000,000) | |||
Banks | Stage 1 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Collateral value | 361,024,000,000 | |||
Banks | Stage 1 | Above appropriate credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [3] | 22,163,951,000,000 | ||
Banks | Stage 1 | Less than a limited credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [4] | 105,583,000,000 | ||
Banks | Stage 2 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Collateral value | 3,334,000,000 | |||
Banks | Stage 2 | Above appropriate credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [5] | 27,777,000,000 | ||
Banks | Stage 2 | Less than a limited credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [4] | 0 | ||
Banks | Stage 3 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | 14,307,000,000 | |||
Collateral value | 0 | |||
Corporates | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | 96,627,671,000,000 | 0 | ||
Corporates | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | 97,824,955,000,000 | |||
Collateral value | 54,531,894,000,000 | |||
Corporates | Loss allowance | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | (1,197,284,000,000) | |||
Corporates | Stage 1 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Collateral value | 51,595,949,000,000 | |||
Corporates | Stage 1 | Above appropriate credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [3] | 77,160,502,000,000 | ||
Corporates | Stage 1 | Less than a limited credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [4] | 15,550,301,000,000 | ||
Corporates | Stage 2 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Collateral value | 2,509,620,000,000 | |||
Corporates | Stage 2 | Above appropriate credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [5] | 655,907,000,000 | ||
Corporates | Stage 2 | Less than a limited credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [4] | 3,424,215,000,000 | ||
Corporates | Stage 3 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | 1,034,030,000,000 | |||
Collateral value | 426,325,000,000 | |||
General business | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | 51,797,736,000,000 | |||
General business | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | 52,614,738,000,000 | |||
Collateral value | 21,317,592,000,000 | |||
General business | Loss allowance | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | (817,002,000,000) | |||
General business | Stage 1 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Collateral value | 19,907,948,000,000 | |||
General business | Stage 1 | Above appropriate credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [3] | 43,173,952,000,000 | ||
General business | Stage 1 | Less than a limited credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [4] | 6,474,057,000,000 | ||
General business | Stage 2 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Collateral value | 1,167,993,000,000 | |||
General business | Stage 2 | Above appropriate credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [5] | 526,303,000,000 | ||
General business | Stage 2 | Less than a limited credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [4] | 1,723,704,000,000 | ||
General business | Stage 3 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | 716,722,000,000 | |||
Collateral value | 241,651,000,000 | |||
Small and medium sized enterprise | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | 39,636,574,000,000 | |||
Small and medium sized enterprise | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | 39,972,043,000,000 | |||
Collateral value | 31,256,612,000,000 | |||
Small and medium sized enterprise | Loss allowance | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | (335,469,000,000) | |||
Small and medium sized enterprise | Stage 1 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Collateral value | 29,780,716,000,000 | |||
Small and medium sized enterprise | Stage 1 | Above appropriate credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [3] | 29,510,917,000,000 | ||
Small and medium sized enterprise | Stage 1 | Less than a limited credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [4] | 8,527,542,000,000 | ||
Small and medium sized enterprise | Stage 2 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Collateral value | 1,291,222,000,000 | |||
Small and medium sized enterprise | Stage 2 | Above appropriate credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [5] | 107,998,000,000 | ||
Small and medium sized enterprise | Stage 2 | Less than a limited credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [4] | 1,547,761,000,000 | ||
Small and medium sized enterprise | Stage 3 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | 277,825,000,000 | |||
Collateral value | 184,674,000,000 | |||
Project financing and others | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | 5,193,361,000,000 | |||
Project financing and others | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | 5,238,174,000,000 | |||
Collateral value | 1,957,690,000,000 | |||
Project financing and others | Loss allowance | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | (44,813,000,000) | |||
Project financing and others | Stage 1 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Collateral value | 1,907,285,000,000 | |||
Project financing and others | Stage 1 | Above appropriate credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [3] | 4,475,633,000,000 | ||
Project financing and others | Stage 1 | Less than a limited credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [4] | 548,702,000,000 | ||
Project financing and others | Stage 2 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Collateral value | 50,405,000,000 | |||
Project financing and others | Stage 2 | Above appropriate credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [5] | 21,606,000,000 | ||
Project financing and others | Stage 2 | Less than a limited credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [4] | 152,750,000,000 | ||
Project financing and others | Stage 3 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | 39,483,000,000 | |||
Collateral value | 0 | |||
Consumers | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | 149,998,911,000,000 | 0 | ||
Consumers | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | 150,622,094,000,000 | |||
Collateral value | 117,956,286,000,000 | |||
Consumers | Loss allowance | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | (623,183,000,000) | |||
Consumers | Stage 1 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Collateral value | 111,360,532,000,000 | |||
Consumers | Stage 1 | Above appropriate credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [3] | 140,047,428,000,000 | ||
Consumers | Stage 1 | Less than a limited credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [4] | 1,967,523,000,000 | ||
Consumers | Stage 2 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Collateral value | 6,323,486,000,000 | |||
Consumers | Stage 2 | Above appropriate credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [5] | 5,646,697,000,000 | ||
Consumers | Stage 2 | Less than a limited credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | [4] | 2,315,635,000,000 | ||
Consumers | Stage 3 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Loans and other financial assets at amortized cost | 644,811,000,000 | |||
Collateral value | 272,268,000,000 | |||
Securities at amortized cost | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Securities at amortized cost | ₩ 0 | |||
Securities at amortized cost | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Securities at amortized cost | 22,939,484,000,000 | |||
Collateral value | 0 | |||
Securities at amortized cost | Loss allowance | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Securities at amortized cost | (6,925,000,000) | |||
Securities at amortized cost | Stage 1 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Collateral value | 0 | |||
Securities at amortized cost | Stage 1 | Above appropriate credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Securities at amortized cost | [3] | 22,939,039,000,000 | ||
Securities at amortized cost | Stage 1 | Less than a limited credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Securities at amortized cost | [4] | 0 | ||
Securities at amortized cost | Stage 2 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Collateral value | 0 | |||
Securities at amortized cost | Stage 2 | Above appropriate credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Securities at amortized cost | [5] | 195,000,000 | ||
Securities at amortized cost | Stage 2 | Less than a limited credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Securities at amortized cost | [4] | 0 | ||
Securities at amortized cost | Stage 3 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Securities at amortized cost | 250,000,000 | |||
Collateral value | 0 | |||
Financial assets at FVTOCI | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Financial assets at FVTOCI | [2] | 17,112,249,000,000 | ||
Collateral value | 0 | |||
Financial assets at FVTOCI | Loss allowance | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Financial assets at FVTOCI | [2] | (6,177,000,000) | ||
Financial assets at FVTOCI | Stage 1 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Collateral value | 0 | |||
Financial assets at FVTOCI | Stage 1 | Above appropriate credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Financial assets at FVTOCI | [2],[3] | 16,940,654,000,000 | ||
Financial assets at FVTOCI | Stage 1 | Less than a limited credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Financial assets at FVTOCI | [2],[4] | 146,442,000,000 | ||
Financial assets at FVTOCI | Stage 2 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Collateral value | 0 | |||
Financial assets at FVTOCI | Stage 2 | Above appropriate credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Financial assets at FVTOCI | [2],[5] | 25,153,000,000 | ||
Financial assets at FVTOCI | Stage 2 | Less than a limited credit rating | Total | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Financial assets at FVTOCI | [2],[4] | 0 | ||
Financial assets at FVTOCI | Stage 3 | ||||
Disclosure of credit risk exposure [Line Items] | ||||
Financial assets at FVTOCI | [2] | 0 | ||
Collateral value | ₩ 0 | |||
[1] | The consolidated statements of financial position as of December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of financial position as of December 31, 2017 were not retrospectively restated in accordance with IFRS 9. | |||
[2] | Financial assets at FVTOCI has been disclosed as the amount before deducting loss allowance because loss allowance does not reduce the carrying amount. | |||
[3] | Credit grade of corporates are AAA ~ BBB, and consumers are grades 1 ~ 6. | |||
[4] | Credit grade of corporates are BBB- ~ C, and consumers are grades 7 ~ 10. | |||
[5] | Credit grade of corporates are A- ~ BBB, and consumers are grades 1 ~ 6. |
Risk Management_Credit qualit_2
Risk Management_Credit quality of off balancesheet items (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | ₩ 110,463,121 | ₩ 93,620,040 | |
Guarantees | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | 12,666,417 | 12,859,715 | |
Loan commitments | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | 97,796,704 | ₩ 80,760,325 | |
Stage 1 | Above appropriate credit rating | Off balance sheet items | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [1] | 102,947,339 | |
Stage 1 | Above appropriate credit rating | Guarantees | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [1] | 11,212,772 | |
Stage 1 | Above appropriate credit rating | Loan commitments | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [1] | 91,734,567 | |
Stage 1 | Less than a limited credit rating | Off balance sheet items | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [2] | 4,696,137 | |
Stage 1 | Less than a limited credit rating | Guarantees | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [2] | 1,063,551 | |
Stage 1 | Less than a limited credit rating | Loan commitments | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [2] | 3,632,586 | |
Stage 2 | Above appropriate credit rating | Off balance sheet items | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [3] | 1,536,477 | |
Stage 2 | Above appropriate credit rating | Guarantees | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [3] | 7,147 | |
Stage 2 | Above appropriate credit rating | Loan commitments | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [3] | 1,529,330 | |
Stage 2 | Less than a limited credit rating | Off balance sheet items | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [2] | 1,142,117 | |
Stage 2 | Less than a limited credit rating | Guarantees | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [2] | 261,599 | |
Stage 2 | Less than a limited credit rating | Loan commitments | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [2] | 880,518 | |
Stage 3 | Off balance sheet items | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | 141,051 | ||
Stage 3 | Guarantees | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | 121,348 | ||
Stage 3 | Loan commitments | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | ₩ 19,703 | ||
[1] | Credit grade of corporates are AAA ~ BBB, and consumers are grades 1 ~ 6. | ||
[2] | Credit grade of corporates are BBB- ~ C, and consumers are grades 7 ~ 10. | ||
[3] | Credit grade of corporates are A- ~ BBB, and consumers are grades 1 ~ 6. |
Risk management_Collateral and
Risk management_Collateral and other credit enhancements (Details) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of collateral held as security and other credit enhancements [Abstract] | |
Description of collateral held as security and other credit enhancements and their financial effect in respect of amount that best represents maximum exposure | During the current quarter, there have been no significant changes in the value of collateral or other credit enhancements held by the Group and there have been no significant changes in collateral or other credit enhancements due to changes in the collateral policy of the Group. As of December 31, 2018, there are no financial assets that do not recognize the allowance for losses just because financial assets have collateral. |
Risk Management_Financial asset
Risk Management_Financial assets with contractual cash flows modified during reporting period (Details) ₩ in Millions | 12 Months Ended |
Dec. 31, 2018KRW (₩) | |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [Abstract] | |
Financial assets with contractual cash flows modified during reporting period while loss allowance measured at lifetime expected credit losses, amortised cost before modification | ₩ 23,132 |
Financial assets with contractual cash flows modified during reporting period while loss allowance measured at lifetime expected credit losses, modification gain (loss) | 239 |
Financial assets written off during reporting period and still subject to enforcement activity, contractual amount outstanding | ₩ 9,578,796 |
Risk Management_Sensitivity Ana
Risk Management_Sensitivity Analysis of Market Risk (Details) | 12 Months Ended |
Dec. 31, 2018 | |
Sensitivity analysis for market risk [Abstract] | |
Methods used in preparing sensitivity analysis reflecting interdependencies between risk variables | The Group performs the sensitivity analyses both for trading and for non-trading activities. For trading activities, the Group uses a VaR model that uses certain assumptions of possible fluctuations in market condition and, by conducting simulations of gains and losses, under which the model estimates the maximum losses that may occur. For the non-trading activities, interest rate Earning at Risk ("EaR") and interest rate VaR, which is based on the simulations of the Net Interest Income ("NII") and Net Portfolio Value ("NPV"), are calculated for the Bank and the consolidated trusts, and the risks for all other subsidiaries are measured and managed by the interest rate EaR and the interest rate VaR calculations based on the Bank for International Settlements ("BIS") Framework. |
Limitations that may result in information not fully reflecting fair value of assets and liabilities involved | A VaR model predicts based on statistics of possible losses on the portfolio at a certain period currently or in the future. It indicates the maximum expected loss with at least 99% confidence level. In short, there exists a one percent possibility that the actual loss might exceed the predicted loss generated from the VaR calculation. The actual results are periodically monitored to examine the validity of the assumptions, variables, and factors that are used in VaR calculations. However, this approach cannot prevent the loss when the market fluctuation exceeds expectation. |
Methods and assumptions used in preparing sensitivity analysis | A VaR model predicts based on statistics of possible losses on the portfolio at a certain period currently or in the future. It indicates the maximum expected loss with at least 99% confidence level. NII is a profit-based indicator for displaying the profit changes in short term due to the short-term interest changes. It will be estimated as subtracting interest expenses of liabilities from the interest income of assets. NPV is an indicator for displaying risks in economic view according to unfavorable changes related to interest rate. It will be estimated as subtracting the present value of liabilities from the present value of assets. EaR shows the maximum profit-loss amount, which indicates the maximum deduction amount caused by the unfavorable changes related to the interest rate of a certain period (i.e. 1 year). Interest rate VaR shows the potential maximum loss generated by the unfavorable changes during a certain period of time in the present or future. |
Risk Management_Value at risk a
Risk Management_Value at risk analysis for trading activities (Details) - KRW (₩) | Dec. 31, 2018 | Dec. 31, 2017 | |
Fair value concentration of risk market risk management reporting date value at risk [Member] | |||
Value at risk [Line Items] | |||
Total VaR | [1] | ₩ 5,987,000,000 | ₩ 5,370,000,000 |
Fair value concentration of risk market risk management value at risk during year [Member] | Average | |||
Value at risk [Line Items] | |||
Total VaR | [1] | 6,183,000,000 | 7,123,000,000 |
Fair value concentration of risk market risk management value at risk during year [Member] | Maximum | |||
Value at risk [Line Items] | |||
Total VaR | [1] | 8,614,000,000 | 9,363,000,000 |
Fair value concentration of risk market risk management value at risk during year [Member] | Minimum | |||
Value at risk [Line Items] | |||
Total VaR | [1] | 4,492,000,000 | 5,370,000,000 |
Interest rate risk | Fair value concentration of risk market risk management reporting date value at risk [Member] | |||
Value at risk [Line Items] | |||
Total VaR | 3,107,000,000 | 4,183,000,000 | |
Interest rate risk | Fair value concentration of risk market risk management value at risk during year [Member] | Average | |||
Value at risk [Line Items] | |||
Total VaR | 3,702,000,000 | 3,799,000,000 | |
Interest rate risk | Fair value concentration of risk market risk management value at risk during year [Member] | Maximum | |||
Value at risk [Line Items] | |||
Total VaR | 5,528,000,000 | 4,918,000,000 | |
Interest rate risk | Fair value concentration of risk market risk management value at risk during year [Member] | Minimum | |||
Value at risk [Line Items] | |||
Total VaR | 1,730,000,000 | 2,467,000,000 | |
Stock price | Fair value concentration of risk market risk management reporting date value at risk [Member] | |||
Value at risk [Line Items] | |||
Total VaR | 2,353,000,000 | 909,000,000 | |
Stock price | Fair value concentration of risk market risk management value at risk during year [Member] | Average | |||
Value at risk [Line Items] | |||
Total VaR | 2,669,000,000 | 2,863,000,000 | |
Stock price | Fair value concentration of risk market risk management value at risk during year [Member] | Maximum | |||
Value at risk [Line Items] | |||
Total VaR | 5,081,000,000 | 4,419,000,000 | |
Stock price | Fair value concentration of risk market risk management value at risk during year [Member] | Minimum | |||
Value at risk [Line Items] | |||
Total VaR | 1,138,000,000 | 909,000,000 | |
Foreign currencies translation risk | Fair value concentration of risk market risk management reporting date value at risk [Member] | |||
Value at risk [Line Items] | |||
Total VaR | 4,972,000,000 | 4,750,000,000 | |
Foreign currencies translation risk | Fair value concentration of risk market risk management value at risk during year [Member] | Average | |||
Value at risk [Line Items] | |||
Total VaR | 4,678,000,000 | 5,051,000,000 | |
Foreign currencies translation risk | Fair value concentration of risk market risk management value at risk during year [Member] | Maximum | |||
Value at risk [Line Items] | |||
Total VaR | 6,136,000,000 | 6,636,000,000 | |
Foreign currencies translation risk | Fair value concentration of risk market risk management value at risk during year [Member] | Minimum | |||
Value at risk [Line Items] | |||
Total VaR | 3,439,000,000 | 4,061,000,000 | |
Commodity price | Fair value concentration of risk market risk management reporting date value at risk [Member] | |||
Value at risk [Line Items] | |||
Total VaR | 0 | 0 | |
Commodity price | Fair value concentration of risk market risk management value at risk during year [Member] | Average | |||
Value at risk [Line Items] | |||
Total VaR | 3,000,000 | 31,000,000 | |
Commodity price | Fair value concentration of risk market risk management value at risk during year [Member] | Maximum | |||
Value at risk [Line Items] | |||
Total VaR | 24,000,000 | 188,000,000 | |
Commodity price | Fair value concentration of risk market risk management value at risk during year [Member] | Minimum | |||
Value at risk [Line Items] | |||
Total VaR | 0 | 0 | |
Diversification | Fair value concentration of risk market risk management reporting date value at risk [Member] | |||
Value at risk [Line Items] | |||
Total VaR | (4,445,000,000) | (4,472,000,000) | |
Diversification | Fair value concentration of risk market risk management value at risk during year [Member] | Average | |||
Value at risk [Line Items] | |||
Total VaR | (4,869,000,000) | (4,621,000,000) | |
Diversification | Fair value concentration of risk market risk management value at risk during year [Member] | Maximum | |||
Value at risk [Line Items] | |||
Total VaR | (8,155,000,000) | (6,798,000,000) | |
Diversification | Fair value concentration of risk market risk management value at risk during year [Member] | Minimum | |||
Value at risk [Line Items] | |||
Total VaR | ₩ (1,815,000,000) | ₩ (2,067,000,000) | |
[1] | VaR (Value at Risk): Maximum expected losses |
Risk management_Scenario respon
Risk management_Scenario responding to IR changes of NII and NPV for assets and liabilities owned by the Bank and consolidated by trusts (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Base case | |||
Sensitivity analysis of market risk for non trading activities [Line Items] | |||
NII | [1] | ₩ 4,895,332 | ₩ 4,916,138 |
NPV | [2] | 24,636,678 | 23,472,792 |
Base case (Prepay) | |||
Sensitivity analysis of market risk for non trading activities [Line Items] | |||
NII | [1] | 4,887,799 | 4,916,015 |
NPV | [2] | 24,225,946 | 23,163,942 |
IR 100bp up | |||
Sensitivity analysis of market risk for non trading activities [Line Items] | |||
NII | [1] | 5,575,470 | 5,361,546 |
NPV | [2] | 24,415,761 | 22,886,122 |
IR 100bp down | |||
Sensitivity analysis of market risk for non trading activities [Line Items] | |||
NII | [1] | 4,329,543 | 4,386,437 |
NPV | [2] | 24,907,344 | 24,127,559 |
IR 200bp up | |||
Sensitivity analysis of market risk for non trading activities [Line Items] | |||
NII | [1] | 6,603,132 | 5,806,723 |
NPV | [2] | 24,232,738 | 22,372,208 |
IR 200bp down | |||
Sensitivity analysis of market risk for non trading activities [Line Items] | |||
NII | [1] | 3,508,859 | 3,452,590 |
NPV | [2] | 25,245,667 | 24,830,482 |
IR 300bp up | |||
Sensitivity analysis of market risk for non trading activities [Line Items] | |||
NII | [1] | 7,560,155 | 6,251,897 |
NPV | [2] | 24,079,415 | 21,929,189 |
IR 300bp down | |||
Sensitivity analysis of market risk for non trading activities [Line Items] | |||
NII | [1] | 3,352,267 | 2,254,609 |
NPV | [2] | ₩ 25,680,084 | ₩ 26,633,807 |
[1] | NII: Net Interest Income | ||
[2] | NPV: Net Portfolio Value |
Risk management_Interest EaR an
Risk management_Interest EaR and VaR based on BIS Framework of subsidiaries other than the Bank and consolidated trusts (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Disclosure of sensitivity analysis of market risk for non trading activities of subsidiaries other than bank [Abstract] | |||
EaR | [1] | ₩ 248,364 | ₩ 255,679 |
VaR | [2] | ₩ 141,484 | ₩ 130,821 |
[1] | EaR(Earning at Risk): Change of Maximum expected income and expense | ||
[2] | VaR(Value at Risk): Maximum expected losses |
Risk management_Cash flows of n
Risk management_Cash flows of non-trading interest bearing assets and liabilities by repricing date (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Asset | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | ₩ 316,894,742 | ₩ 328,925,492 |
Loans and other financial assets at amortized cost | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 274,724,127 | |
Loans and receivables | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 297,775,378 | |
Financial assets at FVTPL | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 666,708 | |
Financial assets at FVTOCI | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 17,540,386 | |
AFS financial assets | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 13,866,019 | |
Securities at amortized cost | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 23,963,521 | |
HTM financial assets | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 17,284,095 | |
Liability | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 296,638,608 | 279,659,987 |
Deposits due to customers | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 249,490,271 | 234,879,069 |
Borrowings | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 16,434,161 | 14,961,062 |
Debentures | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 30,714,176 | 29,819,856 |
Within 3 months | Asset | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 165,294,907 | 166,090,779 |
Within 3 months | Loans and other financial assets at amortized cost | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 159,894,065 | |
Within 3 months | Loans and receivables | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 161,653,892 | |
Within 3 months | Financial assets at FVTPL | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 371,984 | |
Within 3 months | Financial assets at FVTOCI | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 2,579,442 | |
Within 3 months | AFS financial assets | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 2,150,708 | |
Within 3 months | Securities at amortized cost | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 2,449,416 | |
Within 3 months | HTM financial assets | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 2,286,179 | |
Within 3 months | Liability | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 112,358,512 | 118,636,715 |
Within 3 months | Deposits due to customers | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 100,232,916 | 106,815,564 |
Within 3 months | Borrowings | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 9,971,680 | 9,865,249 |
Within 3 months | Debentures | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 2,153,916 | 1,955,902 |
4 to 6 months | Asset | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 49,446,107 | 46,333,100 |
4 to 6 months | Loans and other financial assets at amortized cost | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 45,387,214 | |
4 to 6 months | Loans and receivables | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 41,671,530 | |
4 to 6 months | Financial assets at FVTPL | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 32,278 | |
4 to 6 months | Financial assets at FVTOCI | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 1,775,435 | |
4 to 6 months | AFS financial assets | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 2,500,103 | |
4 to 6 months | Securities at amortized cost | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 2,251,180 | |
4 to 6 months | HTM financial assets | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 2,161,467 | |
4 to 6 months | Liability | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 48,548,289 | 41,259,186 |
4 to 6 months | Deposits due to customers | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 44,207,416 | 37,750,367 |
4 to 6 months | Borrowings | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 1,924,390 | 1,056,579 |
4 to 6 months | Debentures | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 2,416,483 | 2,452,240 |
7 to 9 months | Asset | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 12,125,662 | 11,064,295 |
7 to 9 months | Loans and other financial assets at amortized cost | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 8,878,060 | |
7 to 9 months | Loans and receivables | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 7,614,159 | |
7 to 9 months | Financial assets at FVTPL | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 24,951 | |
7 to 9 months | Financial assets at FVTOCI | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 1,486,953 | |
7 to 9 months | AFS financial assets | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 2,016,711 | |
7 to 9 months | Securities at amortized cost | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 1,735,698 | |
7 to 9 months | HTM financial assets | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 1,433,425 | |
7 to 9 months | Liability | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 32,291,425 | 26,549,085 |
7 to 9 months | Deposits due to customers | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 29,419,951 | 25,117,556 |
7 to 9 months | Borrowings | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 670,404 | 412,966 |
7 to 9 months | Debentures | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 2,201,070 | 1,018,563 |
10 to 12 months | Asset | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 14,139,239 | 10,466,965 |
10 to 12 months | Loans and other financial assets at amortized cost | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 9,903,959 | |
10 to 12 months | Loans and receivables | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 6,411,841 | |
10 to 12 months | Financial assets at FVTPL | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 64,838 | |
10 to 12 months | Financial assets at FVTOCI | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 2,223,494 | |
10 to 12 months | AFS financial assets | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 2,367,762 | |
10 to 12 months | Securities at amortized cost | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 1,946,948 | |
10 to 12 months | HTM financial assets | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 1,687,362 | |
10 to 12 months | Liability | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 38,530,054 | 29,775,736 |
10 to 12 months | Deposits due to customers | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 35,427,657 | 27,585,458 |
10 to 12 months | Borrowings | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 518,167 | 437,431 |
10 to 12 months | Debentures | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 2,584,230 | 1,752,847 |
1 to 5 years | Asset | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 71,071,921 | 67,749,792 |
1 to 5 years | Loans and other financial assets at amortized cost | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 46,459,450 | |
1 to 5 years | Loans and receivables | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 54,150,998 | |
1 to 5 years | Financial assets at FVTPL | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 145,121 | |
1 to 5 years | Financial assets at FVTOCI | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 9,289,742 | |
1 to 5 years | AFS financial assets | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 4,229,000 | |
1 to 5 years | Securities at amortized cost | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 15,177,608 | |
1 to 5 years | HTM financial assets | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 9,369,794 | |
1 to 5 years | Liability | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 61,808,611 | 59,998,426 |
1 to 5 years | Deposits due to customers | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 40,130,055 | 37,518,878 |
1 to 5 years | Borrowings | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 2,723,156 | 2,709,010 |
1 to 5 years | Debentures | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 18,955,400 | 19,770,538 |
Over 5 years | Asset | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 4,816,906 | 27,220,561 |
Over 5 years | Loans and other financial assets at amortized cost | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 4,201,379 | |
Over 5 years | Loans and receivables | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 26,272,958 | |
Over 5 years | Financial assets at FVTPL | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 27,536 | |
Over 5 years | Financial assets at FVTOCI | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 185,320 | |
Over 5 years | AFS financial assets | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 601,735 | |
Over 5 years | Securities at amortized cost | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 402,671 | |
Over 5 years | HTM financial assets | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 345,868 | |
Over 5 years | Liability | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 3,101,717 | 3,440,839 |
Over 5 years | Deposits due to customers | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 72,276 | 91,246 |
Over 5 years | Borrowings | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | 626,364 | 479,827 |
Over 5 years | Debentures | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing liabilities | ₩ 2,403,077 | ₩ 2,869,766 |
Risk Management_Foreign currenc
Risk Management_Foreign currency risk exposure of financial instruments in foreign currency (Details) $ in Millions | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2018JPY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2018EUR (€) | Dec. 31, 2017KRW (₩) | Dec. 31, 2017USD ($) | Dec. 31, 2017JPY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2017EUR (€) |
Won equivalent | Total | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | ₩ 39,789,685,000,000 | ₩ 38,225,444,000,000 | ||||||||
Won equivalent | Loans and other financial assets at amortized cost | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 36,667,999,000,000 | |||||||||
Won equivalent | Loans and receivables | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 35,392,763,000,000 | |||||||||
Won equivalent | Financial assets at FVTPL (IFRS 9) | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 251,384,000,000 | 174,016,000,000 | ||||||||
Won equivalent | Financial assets at FVTOCI | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 2,636,261,000,000 | |||||||||
Won equivalent | AFS financial assets | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 2,461,622,000,000 | |||||||||
Won equivalent | Securities at amortized cost | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 234,041,000,000 | |||||||||
Won equivalent | HTM financial assets | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 197,043,000,000 | |||||||||
Won equivalent | Liability | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 40,363,525,000,000 | 39,450,921,000,000 | ||||||||
Won equivalent | Financial liabilities at FVTPL | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 343,650,000,000 | 139,030,000,000 | ||||||||
Won equivalent | Deposits due to customer | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 23,626,234,000,000 | 23,682,896,000,000 | ||||||||
Won equivalent | Borrowings | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 8,358,536,000,000 | 7,659,733,000,000 | ||||||||
Won equivalent | Debentures | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 4,360,423,000,000 | 4,204,715,000,000 | ||||||||
Won equivalent | Other financial liabilities | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 3,674,682,000,000 | 3,764,547,000,000 | ||||||||
Won equivalent | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | 10,354,756,000,000 | 9,899,126,000,000 | ||||||||
USD | Foreign currency | Total | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | $ | $ 22,004 | $ 25,109 | ||||||||
USD | Foreign currency | Loans and other financial assets at amortized cost | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | $ | 20,406 | |||||||||
USD | Foreign currency | Loans and receivables | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | $ | 23,000 | |||||||||
USD | Foreign currency | Financial assets at FVTPL (IFRS 9) | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | $ | 74 | 32 | ||||||||
USD | Foreign currency | Financial assets at FVTOCI | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | $ | 1,472 | |||||||||
USD | Foreign currency | AFS financial assets | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | $ | 1,966 | |||||||||
USD | Foreign currency | Securities at amortized cost | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | $ | 52 | |||||||||
USD | Foreign currency | HTM financial assets | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | $ | 111 | |||||||||
USD | Foreign currency | Liability | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | $ | 24,050 | 26,248 | ||||||||
USD | Foreign currency | Financial liabilities at FVTPL | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | $ | 118 | 41 | ||||||||
USD | Foreign currency | Deposits due to customer | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | $ | 11,159 | 13,744 | ||||||||
USD | Foreign currency | Borrowings | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | $ | 6,606 | 6,604 | ||||||||
USD | Foreign currency | Debentures | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | $ | 3,645 | 3,467 | ||||||||
USD | Foreign currency | Other financial liabilities | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | $ | 2,522 | 2,392 | ||||||||
USD | Foreign currency | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | $ | $ 7,453 | $ 8,108 | ||||||||
USD | Won equivalent | Total | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 24,602,308,000,000 | 26,902,043,000,000 | ||||||||
USD | Won equivalent | Loans and other financial assets at amortized cost | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 22,816,027,000,000 | |||||||||
USD | Won equivalent | Loans and receivables | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 24,642,900,000,000 | |||||||||
USD | Won equivalent | Financial assets at FVTPL (IFRS 9) | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 82,197,000,000 | 34,303,000,000 | ||||||||
USD | Won equivalent | Financial assets at FVTOCI | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 1,645,595,000,000 | |||||||||
USD | Won equivalent | AFS financial assets | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 2,105,972,000,000 | |||||||||
USD | Won equivalent | Securities at amortized cost | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 58,489,000,000 | |||||||||
USD | Won equivalent | HTM financial assets | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 118,868,000,000 | |||||||||
USD | Won equivalent | Liability | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 26,891,071,000,000 | 28,126,378,000,000 | ||||||||
USD | Won equivalent | Financial liabilities at FVTPL | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 131,927,000,000 | 43,423,000,000 | ||||||||
USD | Won equivalent | Deposits due to customer | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 12,477,154,000,000 | 14,725,686,000,000 | ||||||||
USD | Won equivalent | Borrowings | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 7,386,616,000,000 | 7,080,118,000,000 | ||||||||
USD | Won equivalent | Debentures | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 4,075,084,000,000 | 3,714,411,000,000 | ||||||||
USD | Won equivalent | Other financial liabilities | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 2,820,290,000,000 | 2,562,740,000,000 | ||||||||
USD | Won equivalent | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | 8,333,153,000,000 | 8,687,009,000,000 | ||||||||
JPY | Foreign currency | Total | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | ¥ | ¥ 168,844,000,000 | ¥ 126,969,000,000 | ||||||||
JPY | Foreign currency | Loans and other financial assets at amortized cost | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | ¥ | 167,419,000,000 | |||||||||
JPY | Foreign currency | Loans and receivables | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | ¥ | 126,944,000,000 | |||||||||
JPY | Foreign currency | Financial assets at FVTPL (IFRS 9) | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | ¥ | 1,425,000,000 | 25,000,000 | ||||||||
JPY | Foreign currency | Financial assets at FVTOCI | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | ¥ | 0 | |||||||||
JPY | Foreign currency | AFS financial assets | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | ¥ | 0 | |||||||||
JPY | Foreign currency | Securities at amortized cost | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | ¥ | 0 | |||||||||
JPY | Foreign currency | HTM financial assets | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | ¥ | 0 | |||||||||
JPY | Foreign currency | Liability | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | ¥ | 204,515,000,000 | 213,598,000,000 | ||||||||
JPY | Foreign currency | Financial liabilities at FVTPL | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | ¥ | 1,956,000,000 | 79,000,000 | ||||||||
JPY | Foreign currency | Deposits due to customer | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | ¥ | 169,770,000,000 | 195,176,000,000 | ||||||||
JPY | Foreign currency | Borrowings | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | ¥ | 3,834,000,000 | 2,218,000,000 | ||||||||
JPY | Foreign currency | Debentures | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | ¥ | 0 | 0 | ||||||||
JPY | Foreign currency | Other financial liabilities | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | ¥ | 28,955,000,000 | 16,125,000,000 | ||||||||
JPY | Foreign currency | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | ¥ | ¥ 33,347,000,000 | ¥ 33,624,000,000 | ||||||||
JPY | Won equivalent | Total | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 1,710,689,000,000 | 1,205,081,000,000 | ||||||||
JPY | Won equivalent | Loans and other financial assets at amortized cost | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 1,696,255,000,000 | |||||||||
JPY | Won equivalent | Loans and receivables | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 1,204,843,000,000 | |||||||||
JPY | Won equivalent | Financial assets at FVTPL (IFRS 9) | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 14,434,000,000 | 238,000,000 | ||||||||
JPY | Won equivalent | Financial assets at FVTOCI | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 0 | |||||||||
JPY | Won equivalent | AFS financial assets | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 0 | |||||||||
JPY | Won equivalent | Securities at amortized cost | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 0 | |||||||||
JPY | Won equivalent | HTM financial assets | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 0 | |||||||||
JPY | Won equivalent | Liability | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 2,072,096,000,000 | 2,027,291,000,000 | ||||||||
JPY | Won equivalent | Financial liabilities at FVTPL | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 19,815,000,000 | 752,000,000 | ||||||||
JPY | Won equivalent | Deposits due to customer | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 1,720,072,000,000 | 1,852,440,000,000 | ||||||||
JPY | Won equivalent | Borrowings | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 38,847,000,000 | 21,056,000,000 | ||||||||
JPY | Won equivalent | Debentures | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 0 | 0 | ||||||||
JPY | Won equivalent | Other financial liabilities | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 293,362,000,000 | 153,043,000,000 | ||||||||
JPY | Won equivalent | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | 337,868,000,000 | 319,127,000,000 | ||||||||
CNY | Foreign currency | Total | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | ¥ | ¥ 31,484,000,000 | ¥ 25,543,000,000 | ||||||||
CNY | Foreign currency | Loans and other financial assets at amortized cost | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | ¥ | 29,880,000,000 | |||||||||
CNY | Foreign currency | Loans and receivables | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | ¥ | 25,224,000,000 | |||||||||
CNY | Foreign currency | Financial assets at FVTPL (IFRS 9) | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | ¥ | 0 | 0 | ||||||||
CNY | Foreign currency | Financial assets at FVTOCI | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | ¥ | 1,604,000,000 | |||||||||
CNY | Foreign currency | AFS financial assets | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | ¥ | 319,000,000 | |||||||||
CNY | Foreign currency | Securities at amortized cost | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | ¥ | 0 | |||||||||
CNY | Foreign currency | HTM financial assets | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | ¥ | 0 | |||||||||
CNY | Foreign currency | Liability | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | ¥ | 26,166,000,000 | 24,367,000,000 | ||||||||
CNY | Foreign currency | Financial liabilities at FVTPL | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | ¥ | 0 | 0 | ||||||||
CNY | Foreign currency | Deposits due to customer | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | ¥ | 23,967,000,000 | 21,865,000,000 | ||||||||
CNY | Foreign currency | Borrowings | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | ¥ | 381,000,000 | 0 | ||||||||
CNY | Foreign currency | Debentures | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | ¥ | 0 | 700,000,000 | ||||||||
CNY | Foreign currency | Other financial liabilities | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | ¥ | 1,818,000,000 | 1,802,000,000 | ||||||||
CNY | Foreign currency | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | ¥ | ¥ 1,557,000,000 | ¥ 1,199,000,000 | ||||||||
CNY | Won equivalent | Total | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 5,124,315,000,000 | 4,180,195,000,000 | ||||||||
CNY | Won equivalent | Loans and other financial assets at amortized cost | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 4,863,230,000,000 | |||||||||
CNY | Won equivalent | Loans and receivables | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 4,127,936,000,000 | |||||||||
CNY | Won equivalent | Financial assets at FVTPL (IFRS 9) | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 0 | 0 | ||||||||
CNY | Won equivalent | Financial assets at FVTOCI | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 261,085,000,000 | |||||||||
CNY | Won equivalent | AFS financial assets | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 52,259,000,000 | |||||||||
CNY | Won equivalent | Securities at amortized cost | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 0 | |||||||||
CNY | Won equivalent | HTM financial assets | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 0 | |||||||||
CNY | Won equivalent | Liability | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 4,258,789,000,000 | 3,987,647,000,000 | ||||||||
CNY | Won equivalent | Financial liabilities at FVTPL | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 0 | 0 | ||||||||
CNY | Won equivalent | Deposits due to customer | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 3,900,923,000,000 | 3,578,142,000,000 | ||||||||
CNY | Won equivalent | Borrowings | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 61,947,000,000 | 0 | ||||||||
CNY | Won equivalent | Debentures | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 0 | 114,555,000,000 | ||||||||
CNY | Won equivalent | Other financial liabilities | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 295,919,000,000 | 294,950,000,000 | ||||||||
CNY | Won equivalent | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | 253,366,000,000 | 196,261,000,000 | ||||||||
EUR | Foreign currency | Total | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | € | € 2,053,000,000 | € 1,183,000,000 | ||||||||
EUR | Foreign currency | Loans and other financial assets at amortized cost | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | € | 1,994,000,000 | |||||||||
EUR | Foreign currency | Loans and receivables | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | € | 1,156,000,000 | |||||||||
EUR | Foreign currency | Financial assets at FVTPL (IFRS 9) | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | € | 59,000,000 | 27,000,000 | ||||||||
EUR | Foreign currency | Financial assets at FVTOCI | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | € | 0 | |||||||||
EUR | Foreign currency | AFS financial assets | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | € | 0 | |||||||||
EUR | Foreign currency | Securities at amortized cost | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | € | 0 | |||||||||
EUR | Foreign currency | HTM financial assets | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | € | 0 | |||||||||
EUR | Foreign currency | Liability | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | € | 1,421,000,000 | 1,278,000,000 | ||||||||
EUR | Foreign currency | Financial liabilities at FVTPL | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | € | 55,000,000 | 19,000,000 | ||||||||
EUR | Foreign currency | Deposits due to customer | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | € | 887,000,000 | 883,000,000 | ||||||||
EUR | Foreign currency | Borrowings | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | € | 286,000,000 | 247,000,000 | ||||||||
EUR | Foreign currency | Debentures | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | € | 0 | 0 | ||||||||
EUR | Foreign currency | Other financial liabilities | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | € | 193,000,000 | 129,000,000 | ||||||||
EUR | Foreign currency | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | € | € 474,000,000 | € 406,000,000 | ||||||||
EUR | Won equivalent | Total | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 2,625,316,000,000 | 1,514,524,000,000 | ||||||||
EUR | Won equivalent | Loans and other financial assets at amortized cost | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 2,550,147,000,000 | |||||||||
EUR | Won equivalent | Loans and receivables | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 1,479,351,000,000 | |||||||||
EUR | Won equivalent | Financial assets at FVTPL (IFRS 9) | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 75,169,000,000 | 34,583,000,000 | ||||||||
EUR | Won equivalent | Financial assets at FVTOCI | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 0 | |||||||||
EUR | Won equivalent | AFS financial assets | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 590,000,000 | |||||||||
EUR | Won equivalent | Securities at amortized cost | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 0 | |||||||||
EUR | Won equivalent | HTM financial assets | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 0 | |||||||||
EUR | Won equivalent | Liability | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 1,817,568,000,000 | 1,635,554,000,000 | ||||||||
EUR | Won equivalent | Financial liabilities at FVTPL | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 70,250,000,000 | 24,878,000,000 | ||||||||
EUR | Won equivalent | Deposits due to customer | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 1,135,149,000,000 | 1,129,802,000,000 | ||||||||
EUR | Won equivalent | Borrowings | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 365,585,000,000 | 315,685,000,000 | ||||||||
EUR | Won equivalent | Debentures | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 0 | 0 | ||||||||
EUR | Won equivalent | Other financial liabilities | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 246,584,000,000 | 165,189,000,000 | ||||||||
EUR | Won equivalent | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | 606,714,000,000 | 519,843,000,000 | ||||||||
Others | Won equivalent | Total | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 5,727,057,000,000 | 4,423,601,000,000 | ||||||||
Others | Won equivalent | Loans and other financial assets at amortized cost | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 4,742,340,000,000 | |||||||||
Others | Won equivalent | Loans and receivables | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 3,937,733,000,000 | |||||||||
Others | Won equivalent | Financial assets at FVTPL (IFRS 9) | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 79,584,000,000 | 104,892,000,000 | ||||||||
Others | Won equivalent | Financial assets at FVTOCI | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 729,581,000,000 | |||||||||
Others | Won equivalent | AFS financial assets | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 302,801,000,000 | |||||||||
Others | Won equivalent | Securities at amortized cost | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 175,552,000,000 | |||||||||
Others | Won equivalent | HTM financial assets | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 78,175,000,000 | |||||||||
Others | Won equivalent | Liability | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 5,324,001,000,000 | 3,674,051,000,000 | ||||||||
Others | Won equivalent | Financial liabilities at FVTPL | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 121,658,000,000 | 69,977,000,000 | ||||||||
Others | Won equivalent | Deposits due to customer | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 4,392,936,000,000 | 2,396,826,000,000 | ||||||||
Others | Won equivalent | Borrowings | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 505,541,000,000 | 242,874,000,000 | ||||||||
Others | Won equivalent | Debentures | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 285,339,000,000 | 375,749,000,000 | ||||||||
Others | Won equivalent | Other financial liabilities | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 18,527,000,000 | 588,625,000,000 | ||||||||
Others | Won equivalent | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | ₩ 823,655,000,000 | ₩ 176,886,000,000 |
Risk Management_Cash flow from
Risk Management_Cash flow from principal and interest payments of nonderivative financial liabilities by remaining contractual maturities (Details) - KRW (₩) | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items] | ||
Financial liabilities at FVTPL | ₩ 191,825,000,000 | ₩ 327,030,000,000 |
Deposits due to customers | 252,216,165,000,000 | 238,249,257,000,000 |
Borrowings | 16,500,328,000,000 | 15,080,533,000,000 |
Debentures | 30,714,176,000,000 | 29,811,344,000,000 |
Other financial liabilities | 16,834,966,000,000 | 10,144,982,000,000 |
Total | 316,457,460,000,000 | 293,613,146,000,000 |
Within 3 months | ||
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items] | ||
Financial liabilities at FVTPL | 191,825,000,000 | 168,442,000,000 |
Deposits due to customers | 145,187,689,000,000 | 148,008,777,000,000 |
Borrowings | 6,373,835,000,000 | 6,115,732,000,000 |
Debentures | 2,153,916,000,000 | 1,955,255,000,000 |
Other financial liabilities | 14,240,022,000,000 | 7,121,342,000,000 |
Total | 168,147,287,000,000 | 163,369,548,000,000 |
4 to 6 months | ||
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items] | ||
Financial liabilities at FVTPL | 0 | 155,984,000,000 |
Deposits due to customers | 33,825,662,000,000 | 29,563,310,000,000 |
Borrowings | 2,846,294,000,000 | 1,893,173,000,000 |
Debentures | 2,416,483,000,000 | 2,452,565,000,000 |
Other financial liabilities | 44,572,000,000 | 162,871,000,000 |
Total | 39,133,011,000,000 | 34,227,903,000,000 |
7 to 9 months | ||
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items] | ||
Financial liabilities at FVTPL | 0 | 1,717,000,000 |
Deposits due to customers | 22,186,833,000,000 | 18,175,348,000,000 |
Borrowings | 1,874,069,000,000 | 1,489,272,000,000 |
Debentures | 2,201,070,000,000 | 1,018,714,000,000 |
Other financial liabilities | 169,996,000,000 | 825,000,000 |
Total | 26,431,968,000,000 | 20,685,876,000,000 |
10 to 12 months | ||
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items] | ||
Financial liabilities at FVTPL | 0 | 512,000,000 |
Deposits due to customers | 42,046,740,000,000 | 32,468,110,000,000 |
Borrowings | 1,607,985,000,000 | 1,178,107,000,000 |
Debentures | 2,584,230,000,000 | 1,744,731,000,000 |
Other financial liabilities | 1,201,000,000 | 1,003,000,000 |
Total | 46,240,156,000,000 | 35,392,463,000,000 |
1 to 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items] | ||
Financial liabilities at FVTPL | 0 | 375,000,000 |
Deposits due to customers | 7,098,907,000,000 | 7,409,118,000,000 |
Borrowings | 3,156,128,000,000 | 3,924,681,000,000 |
Debentures | 18,955,400,000,000 | 19,770,380,000,000 |
Other financial liabilities | 90,615,000,000 | 128,940,000,000 |
Total | 29,301,050,000,000 | 31,233,494,000,000 |
Over 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items] | ||
Financial liabilities at FVTPL | 0 | 0 |
Deposits due to customers | 1,870,334,000,000 | 2,624,594,000,000 |
Borrowings | 642,017,000,000 | 479,568,000,000 |
Debentures | 2,403,077,000,000 | 2,869,699,000,000 |
Other financial liabilities | 2,288,560,000,000 | 2,730,001,000,000 |
Total | ₩ 7,203,988,000,000 | ₩ 8,703,862,000,000 |
Risk Management_Cash flow fro_2
Risk Management_Cash flow from principal and interest payments of nonderivative financial liabilities by estimated redemption or withdrawal (Details) - KRW (₩) | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of maturity analysis for derivative financial liabilities by estimated redemption or withdrawal [Line Items] | ||
Financial liabilities at FVTPL | ₩ 191,825,000,000 | ₩ 327,030,000,000 |
Deposits due to customers | 251,418,586,000,000 | 237,873,391,000,000 |
Borrowings | 16,500,328,000,000 | 15,080,533,000,000 |
Debentures | 30,714,176,000,000 | 29,811,344,000,000 |
Other financial liabilities | 16,834,966,000,000 | 10,144,982,000,000 |
Total | 315,659,881,000,000 | 293,237,280,000,000 |
Within 3 months | ||
Disclosure of maturity analysis for derivative financial liabilities by estimated redemption or withdrawal [Line Items] | ||
Financial liabilities at FVTPL | 191,825,000,000 | 168,442,000,000 |
Deposits due to customers | 163,787,990,000,000 | 159,146,602,000,000 |
Borrowings | 6,373,835,000,000 | 6,115,732,000,000 |
Debentures | 2,153,916,000,000 | 1,955,255,000,000 |
Other financial liabilities | 14,240,022,000,000 | 7,121,342,000,000 |
Total | 186,747,588,000,000 | 174,507,373,000,000 |
4 to 6 months | ||
Disclosure of maturity analysis for derivative financial liabilities by estimated redemption or withdrawal [Line Items] | ||
Financial liabilities at FVTPL | 0 | 155,984,000,000 |
Deposits due to customers | 38,126,886,000,000 | 31,298,562,000,000 |
Borrowings | 2,846,294,000,000 | 1,893,173,000,000 |
Debentures | 2,416,483,000,000 | 2,452,565,000,000 |
Other financial liabilities | 44,572,000,000 | 162,871,000,000 |
Total | 43,434,235,000,000 | 35,963,155,000,000 |
7 to 9 months | ||
Disclosure of maturity analysis for derivative financial liabilities by estimated redemption or withdrawal [Line Items] | ||
Financial liabilities at FVTPL | 0 | 1,717,000,000 |
Deposits due to customers | 20,993,436,000,000 | 16,667,130,000,000 |
Borrowings | 1,874,069,000,000 | 1,489,272,000,000 |
Debentures | 2,201,070,000,000 | 1,018,714,000,000 |
Other financial liabilities | 169,996,000,000 | 825,000,000 |
Total | 25,238,571,000,000 | 19,177,658,000,000 |
10 to 12 months | ||
Disclosure of maturity analysis for derivative financial liabilities by estimated redemption or withdrawal [Line Items] | ||
Financial liabilities at FVTPL | 0 | 512,000,000 |
Deposits due to customers | 23,262,092,000,000 | 21,995,294,000,000 |
Borrowings | 1,607,985,000,000 | 1,178,107,000,000 |
Debentures | 2,584,230,000,000 | 1,744,731,000,000 |
Other financial liabilities | 1,201,000,000 | 1,003,000,000 |
Total | 27,455,508,000,000 | 24,919,647,000,000 |
1 to 5 years | ||
Disclosure of maturity analysis for derivative financial liabilities by estimated redemption or withdrawal [Line Items] | ||
Financial liabilities at FVTPL | 0 | 375,000,000 |
Deposits due to customers | 5,230,533,000,000 | 6,487,047,000,000 |
Borrowings | 3,156,128,000,000 | 3,924,681,000,000 |
Debentures | 18,955,400,000,000 | 19,770,380,000,000 |
Other financial liabilities | 90,615,000,000 | 128,940,000,000 |
Total | 27,432,676,000,000 | 30,311,423,000,000 |
Over 5 years | ||
Disclosure of maturity analysis for derivative financial liabilities by estimated redemption or withdrawal [Line Items] | ||
Financial liabilities at FVTPL | 0 | 0 |
Deposits due to customers | 17,649,000,000 | 2,278,756,000,000 |
Borrowings | 642,017,000,000 | 479,568,000,000 |
Debentures | 2,403,077,000,000 | 2,869,699,000,000 |
Other financial liabilities | 2,288,560,000,000 | 2,730,001,000,000 |
Total | ₩ 5,351,303,000,000 | ₩ 8,358,024,000,000 |
Risk Management_Cash flow of de
Risk Management_Cash flow of derivative financial liabilities by maturities (Details) - KRW (₩) | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | ||
Derivative financial liabilities, undiscounted cash flows | ₩ 2,142,269,000,000 | ₩ 3,217,903,000,000 |
Within 3 months | ||
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | ||
Derivative financial liabilities, undiscounted cash flows | 2,090,861,000,000 | 3,150,149,000,000 |
4 to 6 months | ||
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | ||
Derivative financial liabilities, undiscounted cash flows | 816,000,000 | 0 |
7 to 9 months | ||
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | ||
Derivative financial liabilities, undiscounted cash flows | 0 | 0 |
10 to 12 months | ||
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | ||
Derivative financial liabilities, undiscounted cash flows | 0 | 381,000,000 |
1 to 5 years | ||
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | ||
Derivative financial liabilities, undiscounted cash flows | 50,592,000,000 | 67,373,000,000 |
Over 5 years | ||
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | ||
Derivative financial liabilities, undiscounted cash flows | ₩ 0 | ₩ 0 |
Risk Management_Maturity analys
Risk Management_Maturity analysis of Offbalance accounts (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of maturity analysis for off balance sheet item [Abstract] | ||
Guarantees | ₩ 12,666,417 | ₩ 12,859,715 |
Loan commitments | ₩ 97,796,704 | ₩ 80,760,325 |
Risk Management_Capital Ratio (
Risk Management_Capital Ratio (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of objectives policies and processes for managing capital [Abstract] | ||
Minimum common equity tier one ratio | 7.13% | 6.25% |
Minimum tier one ratio | 8.63% | 7.75% |
Minimum total regulatory capital ratio | 10.63% | 9.75% |
Summary of quantitative data about what entity manages as capital | the Group is required to meet the following new minimum requirements: Common Equity Tier 1 capital ratio of 6.25% and 7.13%, a Tier 1 capital ratio of 7.75% and 8.63% and a minimum total capital ratio of 9.75% and 10.63% as of December 31, 2017 and 2018, respectively. | the Group is required to meet the following new minimum requirements: Common Equity Tier 1 capital ratio of 6.25% and 7.13%, a Tier 1 capital ratio of 7.75% and 8.63% and a minimum total capital ratio of 9.75% and 10.63% as of December 31, 2017 and 2018, respectively. |
Qualitative information about entitys objectives policies and processes for managing capital | The Group complies with the standard of capital adequacy provided by financial regulatory authorities. The capital adequacy standard is based on Basel published by Basel III Committee on Banking Supervision in Bank for International Settlement in 2010 and was implemented in Korea in December 2013. The capital adequacy ratio is calculated by dividing own capital by asset (weighted with a risk premium - risk weighted assets) based on the consolidated financial statements of the Group. | The Group complies with the standard of capital adequacy provided by financial regulatory authorities. The capital adequacy standard is based on Basel published by Basel III Committee on Banking Supervision in Bank for International Settlement in 2010 and was implemented in Korea in December 2013. The capital adequacy ratio is calculated by dividing own capital by asset (weighted with a risk premium - risk weighted assets) based on the consolidated financial statements of the Group. |
Tier one risk based capital [Abstract] | ||
Tier 1 capital | ₩ 17,275,539 | ₩ 16,074,987 |
Other Tier 1 capital | 3,147,680 | 3,041,664 |
Tier 2 capital | 3,827,573 | 3,486,555 |
Total risk adjusted capital | 24,250,792 | 22,603,206 |
Risk weighted assets for credit risk | 142,626,069 | 134,767,711 |
Risk weighted assets for market risk | 2,372,451 | 2,316,938 |
Risk weighted assets for operational risk | 9,972,430 | 9,677,559 |
Total risk weighted assets | ₩ 154,970,950 | ₩ 146,762,208 |
Common Equity Tier 1 ratio | 11.15% | 10.95% |
Tier 1 capital ratio | 13.18% | 13.03% |
Total capital ratio | 15.65% | 15.40% |
Operating Segments_Segment by t
Operating Segments_Segment by types of customers (Details) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | Dec. 31, 2016KRW (₩) | ||
Inter segment transaction [Line Items] | |||||
Net Interest income(expense) | ₩ 5,650,951,000,000 | $ 5,077,680 | ₩ 5,220,650,000,000 | ₩ 5,019,544,000,000 | |
Interest income | 9,684,499,000,000 | 8,702,038 | 8,550,687,000,000 | 8,512,312,000,000 | |
Interest expense | (4,033,548,000,000) | (3,624,358) | (3,330,037,000,000) | (3,492,768,000,000) | |
Inter-segment | 0 | 0 | 0 | ||
Net non-interest income(expense) | 1,061,957,000,000 | 1,252,026,000,000 | 867,214,000,000 | ||
Non-interest income | 2,067,338,000,000 | 2,386,897,000,000 | 2,164,367,000,000 | ||
Non-interest expense | (1,005,381,000,000) | (1,134,871,000,000) | (1,297,153,000,000) | ||
Inter-segment | 0 | 0 | 0 | ||
Other income(expense) | (3,953,607,000,000) | (4,315,934,000,000) | (4,312,552,000,000) | ||
General and administrative expense | (3,624,033,000,000) | (3,256,387) | (3,530,801,000,000) | (3,478,476,000,000) | |
Reversal of allowance for credit loss and impairment losses due to credit loss | (329,574,000,000) | (296,140) | (785,133,000,000) | (834,076,000,000) | |
Operating income(expense) | 2,759,301,000,000 | 2,479,379 | 2,156,742,000,000 | 1,574,206,000,000 | |
Non operating income(expense) | 45,571,000,000 | 40,948 | (207,236,000,000) | (20,817,000,000) | |
Net income(expense) before income tax expense | 2,804,872,000,000 | 2,520,327 | 1,949,506,000,000 | 1,553,389,000,000 | |
Income tax expense | (753,223,000,000) | (676,811) | (419,418,000,000) | (275,856,000,000) | |
Net income(expense) | ₩ 2,051,649,000,000 | $ 1,843,516 | ₩ 1,530,088,000,000 | ₩ 1,277,533,000,000 | |
Factors used to identify entitys reportable segments | The Group's reporting segments comprise the following customers: consumer banking, corporate banking, investment banking, capital market, credit card market and headquarters and others. The reportable segments are classified based on the target customers for whom the service is being provided. | The Group's reporting segments comprise the following customers: consumer banking, corporate banking, investment banking, capital market, credit card market and headquarters and others. The reportable segments are classified based on the target customers for whom the service is being provided. | The Group's reporting segments comprise the following customers: consumer banking, corporate banking, investment banking, capital market, credit card market and headquarters and others. The reportable segments are classified based on the target customers for whom the service is being provided. | The Group's reporting segments comprise the following customers: consumer banking, corporate banking, investment banking, capital market, credit card market and headquarters and others. The reportable segments are classified based on the target customers for whom the service is being provided. | |
Sub-total | |||||
Inter segment transaction [Line Items] | |||||
Net Interest income(expense) | ₩ 5,042,656,000,000 | ₩ 4,633,716,000,000 | ₩ 4,430,585,000,000 | ||
Interest income | 9,376,634,000,000 | 8,242,056,000,000 | 8,227,523,000,000 | ||
Interest expense | (4,333,978,000,000) | (3,608,340,000,000) | (3,796,938,000,000) | ||
Inter-segment | 0 | 0 | 0 | ||
Net non-interest income(expense) | 1,906,468,000,000 | 1,905,666,000,000 | 1,655,036,000,000 | ||
Non-interest income | 10,530,467,000,000 | 15,245,069,000,000 | 15,203,865,000,000 | ||
Non-interest expense | (8,623,999,000,000) | (13,339,403,000,000) | (13,548,829,000,000) | ||
Inter-segment | 0 | 0 | 0 | ||
Other income(expense) | (4,173,260,000,000) | (4,443,080,000,000) | (4,453,370,000,000) | ||
General and administrative expense | (3,905,999,000,000) | (3,788,625,000,000) | (3,730,476,000,000) | ||
Reversal of allowance for credit loss and impairment losses due to credit loss | (267,261,000,000) | (654,455,000,000) | (722,894,000,000) | ||
Operating income(expense) | 2,775,864,000,000 | 2,096,302,000,000 | 1,632,251,000,000 | ||
Non operating income(expense) | 64,711,000,000 | (180,266,000,000) | 58,358,000,000 | ||
Net income(expense) before income tax expense | 2,840,575,000,000 | 1,916,036,000,000 | 1,690,609,000,000 | ||
Income tax expense | (750,977,000,000) | (412,634,000,000) | (277,817,000,000) | ||
Net income(expense) | 2,089,598,000,000 | 1,503,402,000,000 | 1,412,792,000,000 | ||
Consumer banking | |||||
Inter segment transaction [Line Items] | |||||
Net Interest income(expense) | 1,873,896,000,000 | 1,702,939,000,000 | 1,484,233,000,000 | ||
Interest income | 3,529,645,000,000 | 3,149,625,000,000 | 2,979,811,000,000 | ||
Interest expense | (1,021,639,000,000) | (955,836,000,000) | (1,023,290,000,000) | ||
Inter-segment | (634,110,000,000) | (490,850,000,000) | (472,288,000,000) | ||
Net non-interest income(expense) | 667,346,000,000 | 649,950,000,000 | 557,410,000,000 | ||
Non-interest income | 678,360,000,000 | 802,387,000,000 | 923,810,000,000 | ||
Non-interest expense | (143,704,000,000) | (253,961,000,000) | (405,912,000,000) | ||
Inter-segment | 132,690,000,000 | 101,524,000,000 | 39,512,000,000 | ||
Other income(expense) | (1,993,153,000,000) | (1,906,561,000,000) | (1,875,579,000,000) | ||
General and administrative expense | (1,865,933,000,000) | (1,808,974,000,000) | (1,788,672,000,000) | ||
Reversal of allowance for credit loss and impairment losses due to credit loss | (127,220,000,000) | (97,587,000,000) | (86,907,000,000) | ||
Operating income(expense) | 548,089,000,000 | 446,328,000,000 | 166,064,000,000 | ||
Non operating income(expense) | (20,208,000,000) | (98,510,000,000) | (35,081,000,000) | ||
Net income(expense) before income tax expense | 527,881,000,000 | 347,818,000,000 | 130,983,000,000 | ||
Income tax expense | (145,167,000,000) | (84,172,000,000) | (31,698,000,000) | ||
Net income(expense) | ₩ 382,714,000,000 | ₩ 263,646,000,000 | ₩ 99,285,000,000 | ||
Factors used to identify entitys reportable segments | - Consumer banking: Loans/deposits and financial services for retail and individual consumers, etc. | - Consumer banking: Loans/deposits and financial services for retail and individual consumers, etc. | - Consumer banking: Loans/deposits and financial services for retail and individual consumers, etc. | - Consumer banking: Loans/deposits and financial services for retail and individual consumers, etc. | |
Corporate banking | |||||
Inter segment transaction [Line Items] | |||||
Net Interest income(expense) | ₩ 2,075,059,000,000 | ₩ 1,795,377,000,000 | ₩ 1,741,140,000,000 | ||
Interest income | 3,409,835,000,000 | 2,964,813,000,000 | 3,026,148,000,000 | ||
Interest expense | (2,168,000,000,000) | (1,681,652,000,000) | (1,780,990,000,000) | ||
Inter-segment | 833,224,000,000 | 512,216,000,000 | 495,982,000,000 | ||
Net non-interest income(expense) | 500,765,000,000 | 571,336,000,000 | 550,194,000,000 | ||
Non-interest income | 721,096,000,000 | 680,778,000,000 | 535,514,000,000 | ||
Non-interest expense | (290,347,000,000) | (170,268,000,000) | (32,873,000,000) | ||
Inter-segment | 70,016,000,000 | 60,826,000,000 | 47,553,000,000 | ||
Other income(expense) | (929,672,000,000) | (1,149,288,000,000) | (1,476,190,000,000) | ||
General and administrative expense | (868,608,000,000) | (832,429,000,000) | (966,878,000,000) | ||
Reversal of allowance for credit loss and impairment losses due to credit loss | (61,064,000,000) | (316,859,000,000) | (509,312,000,000) | ||
Operating income(expense) | 1,646,152,000,000 | 1,217,425,000,000 | 815,144,000,000 | ||
Non operating income(expense) | 899,000,000 | (3,153,000,000) | (1,619,000,000) | ||
Net income(expense) before income tax expense | 1,647,051,000,000 | 1,214,272,000,000 | 813,525,000,000 | ||
Income tax expense | (445,619,000,000) | (296,634,000,000) | (203,983,000,000) | ||
Net income(expense) | ₩ 1,201,432,000,000 | ₩ 917,638,000,000 | ₩ 609,542,000,000 | ||
Factors used to identify entitys reportable segments | - Corporate banking: Loans/deposits and export/import, financial services for corporations, etc. | - Corporate banking: Loans/deposits and export/import, financial services for corporations, etc. | - Corporate banking: Loans/deposits and export/import, financial services for corporations, etc. | - Corporate banking: Loans/deposits and export/import, financial services for corporations, etc. | |
Investment banking | |||||
Inter segment transaction [Line Items] | |||||
Net Interest income(expense) | ₩ (11,839,000,000) | ₩ 12,124,000,000 | ₩ 14,613,000,000 | ||
Interest income | 152,273,000,000 | 148,500,000,000 | 153,160,000,000 | ||
Interest expense | (150,000,000) | (243,000,000) | (225,000,000) | ||
Inter-segment | (163,962,000,000) | (136,133,000,000) | (138,322,000,000) | ||
Net non-interest income(expense) | 176,686,000,000 | 152,168,000,000 | 160,885,000,000 | ||
Non-interest income | 230,357,000,000 | 366,523,000,000 | 605,026,000,000 | ||
Non-interest expense | (53,671,000,000) | (214,355,000,000) | (444,141,000,000) | ||
Inter-segment | 0 | 0 | 0 | ||
Other income(expense) | 48,136,000,000 | (63,835,000,000) | (110,863,000,000) | ||
General and administrative expense | (14,318,000,000) | (12,881,000,000) | (14,983,000,000) | ||
Reversal of allowance for credit loss and impairment losses due to credit loss | 62,454,000,000 | (50,954,000,000) | (95,880,000,000) | ||
Operating income(expense) | 212,983,000,000 | 100,457,000,000 | 64,635,000,000 | ||
Non operating income(expense) | 32,738,000,000 | 39,350,000,000 | 46,559,000,000 | ||
Net income(expense) before income tax expense | 245,721,000,000 | 139,807,000,000 | 111,194,000,000 | ||
Income tax expense | (67,573,000,000) | (33,834,000,000) | (26,909,000,000) | ||
Net income(expense) | ₩ 178,148,000,000 | ₩ 105,973,000,000 | ₩ 84,285,000,000 | ||
Factors used to identify entitys reportable segments | - Investment banking: Domestic/foreign investment, structured finance, M&A, equity & fund investment related business, venture advisory related tasks, real estate SOC development practices, etc. | - Investment banking: Domestic/foreign investment, structured finance, M&A, equity & fund investment related business, venture advisory related tasks, real estate SOC development practices, etc. | - Investment banking: Domestic/foreign investment, structured finance, M&A, equity & fund investment related business, venture advisory related tasks, real estate SOC development practices, etc. | - Investment banking: Domestic/foreign investment, structured finance, M&A, equity & fund investment related business, venture advisory related tasks, real estate SOC development practices, etc. | |
Capital market | |||||
Inter segment transaction [Line Items] | |||||
Net Interest income(expense) | ₩ 34,908,000,000 | ₩ 36,883,000,000 | ₩ 48,826,000,000 | ||
Interest income | 8,945,000,000 | 18,834,000,000 | 19,575,000,000 | ||
Interest expense | 0 | 0 | (324,000,000) | ||
Inter-segment | 25,963,000,000 | 18,049,000,000 | 29,575,000,000 | ||
Net non-interest income(expense) | 56,069,000,000 | 69,671,000,000 | 4,033,000,000 | ||
Non-interest income | 7,020,740,000,000 | 9,548,399,000,000 | 7,590,087,000,000 | ||
Non-interest expense | (6,964,671,000,000) | (9,478,728,000,000) | (7,586,054,000,000) | ||
Inter-segment | 0 | 0 | 0 | ||
Other income(expense) | (35,313,000,000) | 14,662,000,000 | (51,995,000,000) | ||
General and administrative expense | (18,452,000,000) | (16,567,000,000) | (17,964,000,000) | ||
Reversal of allowance for credit loss and impairment losses due to credit loss | (16,861,000,000) | 31,229,000,000 | (34,031,000,000) | ||
Operating income(expense) | 55,664,000,000 | 121,216,000,000 | 864,000,000 | ||
Non operating income(expense) | 0 | (5,288,000,000) | |||
Net income(expense) before income tax expense | 55,664,000,000 | 121,216,000,000 | (4,424,000,000) | ||
Income tax expense | (15,308,000,000) | (29,335,000,000) | 1,071,000,000 | ||
Net income(expense) | ₩ 40,356,000,000 | ₩ 91,881,000,000 | ₩ (3,353,000,000) | ||
Factors used to identify entitys reportable segments | - Capital market: Fund management, investment in securities and derivatives, etc. | - Capital market: Fund management, investment in securities and derivatives, etc. | - Capital market: Fund management, investment in securities and derivatives, etc. | - Capital market: Fund management, investment in securities and derivatives, etc. | |
Credit Card | |||||
Inter segment transaction [Line Items] | |||||
Net Interest income(expense) | ₩ 509,598,000,000 | ₩ 463,603,000,000 | ₩ 428,096,000,000 | ||
Interest income | 670,240,000,000 | 599,550,000,000 | 556,682,000,000 | ||
Interest expense | (160,642,000,000) | (135,947,000,000) | (128,586,000,000) | ||
Inter-segment | 0 | 0 | 0 | ||
Net non-interest income(expense) | 44,847,000,000 | 73,537,000,000 | 79,714,000,000 | ||
Non-interest income | 665,534,000,000 | 1,163,575,000,000 | 986,148,000,000 | ||
Non-interest expense | (620,687,000,000) | (1,090,038,000,000) | (906,434,000,000) | ||
Inter-segment | 0 | 0 | 0 | ||
Other income(expense) | (397,909,000,000) | (398,652,000,000) | (364,137,000,000) | ||
General and administrative expense | (170,765,000,000) | (163,536,000,000) | (148,001,000,000) | ||
Reversal of allowance for credit loss and impairment losses due to credit loss | (227,144,000,000) | (235,116,000,000) | (216,136,000,000) | ||
Operating income(expense) | 156,536,000,000 | 138,488,000,000 | 143,673,000,000 | ||
Non operating income(expense) | (5,547,000,000) | (5,219,000,000) | (1,504,000,000) | ||
Net income(expense) before income tax expense | 150,989,000,000 | 133,269,000,000 | 142,169,000,000 | ||
Income tax expense | (36,222,000,000) | (32,055,000,000) | (32,774,000,000) | ||
Net income(expense) | ₩ 114,767,000,000 | ₩ 101,214,000,000 | ₩ 109,395,000,000 | ||
Factors used to identify entitys reportable segments | - Credit card: Credit card, cash service and card loan, etc. | - Credit card: Credit card, cash service and card loan, etc. | - Credit card: Credit card, cash service and card loan, etc. | - Credit card: Credit card, cash service and card loan, etc. | |
Headquarter and Others | |||||
Inter segment transaction [Line Items] | |||||
Net Interest income(expense) | ₩ 561,034,000,000 | ₩ 622,790,000,000 | ₩ 713,677,000,000 | ||
Interest income | 1,605,696,000,000 | 1,360,734,000,000 | 1,492,147,000,000 | ||
Interest expense | (983,547,000,000) | (834,662,000,000) | (863,523,000,000) | ||
Inter-segment | (61,115,000,000) | 96,718,000,000 | 85,053,000,000 | ||
Net non-interest income(expense) | 460,755,000,000 | 389,004,000,000 | 302,800,000,000 | ||
Non-interest income | 1,214,380,000,000 | 2,683,407,000,000 | 4,563,280,000,000 | ||
Non-interest expense | (550,919,000,000) | (2,132,053,000,000) | (4,173,415,000,000) | ||
Inter-segment | (202,706,000,000) | (162,350,000,000) | (87,065,000,000) | ||
Other income(expense) | (865,349,000,000) | (939,406,000,000) | (574,606,000,000) | ||
General and administrative expense | (967,923,000,000) | (954,238,000,000) | (793,978,000,000) | ||
Reversal of allowance for credit loss and impairment losses due to credit loss | 102,574,000,000 | 14,832,000,000 | 219,372,000,000 | ||
Operating income(expense) | 156,440,000,000 | 72,388,000,000 | 441,871,000,000 | ||
Non operating income(expense) | 56,829,000,000 | (112,734,000,000) | 55,291,000,000 | ||
Net income(expense) before income tax expense | 213,269,000,000 | (40,346,000,000) | 497,162,000,000 | ||
Income tax expense | (41,088,000,000) | 63,396,000,000 | 16,476,000,000 | ||
Net income(expense) | ₩ 172,181,000,000 | ₩ 23,050,000,000 | ₩ 513,638,000,000 | ||
Factors used to identify entitys reportable segments | - Headquarter and others: Segments that do not belong to above operating segments | - Headquarter and others: Segments that do not belong to above operating segments | - Headquarter and others: Segments that do not belong to above operating segments | - Headquarter and others: Segments that do not belong to above operating segments | |
Adjustments | |||||
Inter segment transaction [Line Items] | |||||
Net Interest income(expense) | [1] | ₩ 608,295,000,000 | ₩ 586,934,000,000 | ₩ 588,959,000,000 | |
Interest income | [1] | 307,865,000,000 | 308,631,000,000 | 284,789,000,000 | |
Interest expense | [1] | 300,430,000,000 | 278,303,000,000 | 304,170,000,000 | |
Inter-segment | [1] | 0 | 0 | 0 | |
Net non-interest income(expense) | [1] | (844,511,000,000) | (653,640,000,000) | (787,822,000,000) | |
Non-interest income | [1] | (8,463,129,000,000) | (12,858,172,000,000) | (13,039,498,000,000) | |
Non-interest expense | [1] | 7,618,618,000,000 | 12,204,532,000,000 | 12,251,676,000,000 | |
Inter-segment | [1] | 0 | 0 | 0 | |
Other income(expense) | [1] | 219,653,000,000 | 127,146,000,000 | 140,818,000,000 | |
General and administrative expense | [1] | 281,966,000,000 | 257,824,000,000 | 252,000,000,000 | |
Reversal of allowance for credit loss and impairment losses due to credit loss | [1] | (62,313,000,000) | (130,678,000,000) | (111,182,000,000) | |
Operating income(expense) | [1] | (16,563,000,000) | 60,440,000,000 | (58,045,000,000) | |
Non operating income(expense) | [1] | (19,140,000,000) | (26,970,000,000) | (79,175,000,000) | |
Net income(expense) before income tax expense | [1] | (35,703,000,000) | 33,470,000,000 | (137,220,000,000) | |
Income tax expense | [1] | (2,246,000,000) | (6,784,000,000) | 1,961,000,000 | |
Net income(expense) | [1] | ₩ (37,949,000,000) | ₩ 26,686,000,000 | ₩ (135,259,000,000) | |
Description of material reconciling items | [1] | These adjustments are performed in order to present intersegment profit or loss adjustments based on managerial accounting as profit or loss in accordance with IFRS. | These adjustments are performed in order to present intersegment profit or loss adjustments based on managerial accounting as profit or loss in accordance with IFRS. | These adjustments are performed in order to present intersegment profit or loss adjustments based on managerial accounting as profit or loss in accordance with IFRS. | These adjustments are performed in order to present intersegment profit or loss adjustments based on managerial accounting as profit or loss in accordance with IFRS. |
[1] | These adjustments are performed in order to present intersegment profit or loss adjustments based on managerial accounting as profit or loss in accordance with IFRS. |
Operating Segments_Information
Operating Segments_Information on products and services (Details) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of products and services [Abstract] | |||
Description of information on products and services | The products of the Group are classified as interest-bearing products such as loans, deposits and debt securities and non-interest bearing products such as loan commitment, credit commitment, equity securities, and credit card service. This classification of products has been reflected in the segment information presenting interest income and non-interest income. | The products of the Group are classified as interest-bearing products such as loans, deposits and debt securities and non-interest bearing products such as loan commitment, credit commitment, equity securities, and credit card service. This classification of products has been reflected in the segment information presenting interest income and non-interest income. | The products of the Group are classified as interest-bearing products such as loans, deposits and debt securities and non-interest bearing products such as loan commitment, credit commitment, equity securities, and credit card service. This classification of products has been reflected in the segment information presenting interest income and non-interest income. |
Operating Segments_Informatio_2
Operating Segments_Information on geographical areas (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Domestic customers | |||
Disclosure of geographical areas [Line Items] | |||
Revenue | ₩ 10,440,668 | ₩ 9,817,327 | ₩ 22,265,508 |
Non-current assets | 3,551,924 | 3,550,764 | 3,498,327 |
Foreign customers | |||
Disclosure of geographical areas [Line Items] | |||
Revenue | 1,311,169 | 1,120,257 | 1,016,788 |
Non-current assets | ₩ 236,050 | ₩ 233,732 | ₩ 240,946 |
Operating Segments_Informatio_3
Operating Segments_Information about major customers (Details) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of major customers [Abstract] | ||
Information about major customers | The group does not have any single customer that customer that generate 10% or the group's total revenue | The group does not have any single customer that customer that generate 10% or the group's total revenue |
Cash and cash equivalents_Detai
Cash and cash equivalents_Details of cash and cash equivalents (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | Dec. 31, 2017USD ($) | Dec. 31, 2016KRW (₩) | Dec. 31, 2015KRW (₩) |
Cash and cash equivalents [Abstract] | ||||||
Cash | ₩ 2,107,861 | ₩ 2,009,363 | ||||
Foreign currencies | 725,083 | 617,155 | ||||
Demand deposits | 3,512,216 | 3,423,355 | ||||
Fixed deposits | 402,734 | 858,413 | ||||
Total | ₩ 6,747,894 | $ 6,063,343 | ₩ 6,908,286 | $ 6,207,463 | ₩ 7,591,324 | ₩ 6,644,055 |
Cash and cash equivalents_Signi
Cash and cash equivalents_Significant non-cash transactions (Details) | 12 Months Ended | |||||||
Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | Dec. 31, 2016KRW (₩) | |||||
Cash flow noncash investing and financing activities disclosure [Abstract] | ||||||||
Changes in other comprehensive gain due to remeasurement of financial assets designated at FVTOCI | ₩ 2,505,000,000 | [1] | $ 2,251,000 | [1] | ₩ 0 | |||
Changes in other comprehensive income related to available-for-sale securities | [2] | 0 | 0 | (84,498,000,000) | ₩ 12,586,000,000 | [1] | ||
Changes in other comprehensive income related to valuation of equity method investments | 2,958,000,000 | 612,000,000 | ||||||
Changes in other comprehensive gain or loss related to valuation of cash flow hedge | (4,646,000,000) | $ (4,175,000) | 777,000,000 | ₩ 10,371,000,000 | ||||
Changes in investments in associates due to debt-equity swap | 0 | 51,227,000,000 | ||||||
Changes in financial assets at FVTOCI as a result of debt-equity swap | 14,378,000,000 | 0 | ||||||
Changes in investments in associates due to accounts transfer | (89,151,000,000) | (62,571,000,000) | ||||||
Changes in unpaid dividends of hybrid equity securities | 3,569,000,000 | (10,658,000,000) | ||||||
Changes in equity related to assets held for sale | (4,145,000,000) | 4,145,000,000 | ||||||
Classified to assets held for sale from premises and equipment | ₩ 6,243,000,000 | ₩ 0 | ||||||
[1] | The consolidated statements of changes in equity for the year ended December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of changes in equity for the years ended December 31, 2016 and 2017 were not retrospectively restated in accordance with IFRS 9. | |||||||
[2] | The consolidated statements of comprehensive income for the year ended December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of comprehensive income for the years ended December 31, 2016 and 2017 were not retrospectively restated in accordance with IFRS 9. |
Cash And Cash Equivalents Liabi
Cash And Cash Equivalents Liability Adjustments from Financing Activities (Details) - KRW (₩) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of reconciliation of liabilities arising from financing activities [Line Items] | ||
Beginning balance | ₩ 42,654,357,000,000 | ₩ 42,334,964,000,000 |
Changes in liabilities arising from financing activities [Abstract] | ||
Cash flow | 1,869,452,000,000 | 1,182,818,000,000 |
Not involving cash inflows and outflows | ||
Foreign Exchange | 428,417,000,000 | (828,678,000,000) |
Variation of gains on valuation of hedged items | (25,498,000,000) | (39,373,000,000) |
Others | 12,120,000,000 | 4,626,000,000 |
Ending balance | 44,938,848,000,000 | 42,654,357,000,000 |
Borrowings | ||
Disclosure of reconciliation of liabilities arising from financing activities [Line Items] | ||
Beginning balance | 14,784,706,000,000 | 18,769,515,000,000 |
Changes in liabilities arising from financing activities [Abstract] | ||
Cash flow | 1,257,121,000,000 | (3,634,883,000,000) |
Not involving cash inflows and outflows | ||
Foreign Exchange | 161,078,000,000 | (350,429,000,000) |
Variation of gains on valuation of hedged items | 0 | 0 |
Others | 81,000,000 | 503,000,000 |
Ending balance | 16,202,986,000,000 | 14,784,706,000,000 |
Debentures | ||
Disclosure of reconciliation of liabilities arising from financing activities [Line Items] | ||
Beginning balance | 27,869,651,000,000 | 23,565,449,000,000 |
Changes in liabilities arising from financing activities [Abstract] | ||
Cash flow | 612,331,000,000 | 4,817,701,000,000 |
Not involving cash inflows and outflows | ||
Foreign Exchange | 267,339,000,000 | (478,249,000,000) |
Variation of gains on valuation of hedged items | (25,498,000,000) | (39,373,000,000) |
Others | 12,039,000,000 | 4,123,000,000 |
Ending balance | ₩ 28,735,862,000,000 | ₩ 27,869,651,000,000 |
Financial assets at FVTPL_Detai
Financial assets at FVTPL_Details of financial assets at FVTPL (Details) | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | |
Disclosure of financial assets at fair value through profit or loss [Line Items] | ||||
Financial assets at FVTPL mandatorily measured at fair value (IFRS 9) | ₩ 6,126,316,000,000 | |||
Financial assets at fair value through profit or loss mandatorily measured at fair value | [1] | 6,126,316,000,000 | $ 5,504,822,000 | ₩ 0 |
Financial assets held for trading (IAS 39) | 5,820,787,000,000 | |||
Financial assets designated at FVTPL (IAS 39) | 22,290,000,000 | |||
Financial assets at FVTPL (IAS 39) | [1] | 0 | $ 0 | 5,843,077,000,000 |
Deposit | ||||
Disclosure of financial assets at fair value through profit or loss [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | 26,935,000,000 | |||
Financial assets at FVTPL (IAS 39) | 25,972,000,000 | |||
Deposits indexed to gold prices | ||||
Disclosure of financial assets at fair value through profit or loss [Line Items] | ||||
Financial assets at FVTPL mandatorily measured at fair value (IFRS 9) | 26,935,000,000 | |||
Financial assets held for trading (IAS 39) | 25,972,000,000 | |||
Securities | ||||
Disclosure of financial assets at fair value through profit or loss [Line Items] | ||||
Financial assets at FVTPL mandatorily measured at fair value (IFRS 9) | 3,687,852,000,000 | |||
Financial assets at fair value through profit or loss mandatorily measured at fair value | 3,687,852,000,000 | |||
Financial assets held for trading (IAS 39) | 2,679,040,000,000 | |||
Financial assets at FVTPL (IAS 39) | 2,701,330,000,000 | |||
Korean treasury and government agencies | ||||
Disclosure of financial assets at fair value through profit or loss [Line Items] | ||||
Financial assets at FVTPL mandatorily measured at fair value (IFRS 9) | 516,173,000,000 | |||
Financial assets held for trading (IAS 39) | 540,438,000,000 | |||
Financial institutions | ||||
Disclosure of financial assets at fair value through profit or loss [Line Items] | ||||
Financial assets at FVTPL mandatorily measured at fair value (IFRS 9) | 533,393,000,000 | |||
Financial assets held for trading (IAS 39) | 1,476,498,000,000 | |||
Corporates | ||||
Disclosure of financial assets at fair value through profit or loss [Line Items] | ||||
Financial assets at FVTPL mandatorily measured at fair value (IFRS 9) | 774,589,000,000 | |||
Financial assets held for trading (IAS 39) | 627,397,000,000 | |||
Equity securities | ||||
Disclosure of financial assets at fair value through profit or loss [Line Items] | ||||
Financial assets at FVTPL mandatorily measured at fair value (IFRS 9) | 455,666,000,000 | |||
Financial assets held for trading (IAS 39) | 21,666,000,000 | |||
Capital contributions | ||||
Disclosure of financial assets at fair value through profit or loss [Line Items] | ||||
Financial assets at FVTPL mandatorily measured at fair value (IFRS 9) | 422,614,000,000 | |||
Financial assets held for trading (IAS 39) | 0 | |||
Beneficiary certificates | ||||
Disclosure of financial assets at fair value through profit or loss [Line Items] | ||||
Financial assets at FVTPL mandatorily measured at fair value (IFRS 9) | 985,417,000,000 | |||
Financial assets held for trading (IAS 39) | 13,041,000,000 | |||
Loans | ||||
Disclosure of financial assets at fair value through profit or loss [Line Items] | ||||
Financial assets at FVTPL mandatorily measured at fair value (IFRS 9) | 385,450,000,000 | |||
Financial assets held for trading (IAS 39) | 0 | |||
Derivative assets | ||||
Disclosure of financial assets at fair value through profit or loss [Line Items] | ||||
Financial assets at FVTPL mandatorily measured at fair value (IFRS 9) | 2,026,079,000,000 | |||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 2,026,079,000,000 | |||
Financial assets held for trading (IAS 39) | 3,115,775,000,000 | |||
Financial assets at FVTPL (IAS 39) | 3,115,775,000,000 | |||
Debt securities | ||||
Disclosure of financial assets at fair value through profit or loss [Line Items] | ||||
Financial assets designated at FVTPL (IAS 39) | 9,694,000,000 | |||
Equity securities | ||||
Disclosure of financial assets at fair value through profit or loss [Line Items] | ||||
Financial assets designated at FVTPL (IAS 39) | ₩ 12,596,000,000 | |||
[1] | The consolidated statements of financial position as of December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of financial position as of December 31, 2017 were not retrospectively restated in accordance with IFRS 9. |
AFS financial assets_Details of
AFS financial assets_Details of AFS financial assets (Details) | 12 Months Ended | |||
Dec. 31, 2017KRW (₩) | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | ||
Inter segment transaction [Line Items] | ||||
Amortized cost | ₩ 14,936,359,000,000 | |||
Cumulative gains on valuation | 459,955,000,000 | |||
Cumulative losses on valuation | (43,364,000,000) | |||
Fair value | [1] | 15,352,950,000,000 | ₩ 0 | $ 0 |
Debt securities | ||||
Inter segment transaction [Line Items] | ||||
Amortized cost | 13,086,323,000,000 | |||
Cumulative gains on valuation | 9,669,000,000 | |||
Cumulative losses on valuation | (37,004,000,000) | |||
Fair value | 13,058,988,000,000 | |||
Korean treasury and government agencies | ||||
Inter segment transaction [Line Items] | ||||
Amortized cost | 2,338,760,000,000 | |||
Cumulative gains on valuation | 1,193,000,000 | |||
Cumulative losses on valuation | (9,386,000,000) | |||
Fair value | 2,330,567,000,000 | |||
Financial institutions | ||||
Inter segment transaction [Line Items] | ||||
Amortized cost | 5,225,921,000,000 | |||
Cumulative gains on valuation | 1,504,000,000 | |||
Cumulative losses on valuation | (10,159,000,000) | |||
Fair value | 5,217,266,000,000 | |||
Corporates | ||||
Inter segment transaction [Line Items] | ||||
Amortized cost | 2,727,016,000,000 | |||
Cumulative gains on valuation | 3,851,000,000 | |||
Cumulative losses on valuation | (5,635,000,000) | |||
Fair value | 2,725,232,000,000 | |||
Asset-backed securities | ||||
Inter segment transaction [Line Items] | ||||
Amortized cost | 309,518,000,000 | |||
Cumulative gains on valuation | 0 | |||
Cumulative losses on valuation | (1,337,000,000) | |||
Fair value | 308,181,000,000 | |||
Bond denominated in foreign currencies | ||||
Inter segment transaction [Line Items] | ||||
Amortized cost | 2,449,954,000,000 | |||
Cumulative gains on valuation | 3,100,000,000 | |||
Cumulative losses on valuation | (10,475,000,000) | |||
Fair value | 2,442,579,000,000 | |||
Others | ||||
Inter segment transaction [Line Items] | ||||
Amortized cost | 35,154,000,000 | |||
Cumulative gains on valuation | 21,000,000 | |||
Cumulative losses on valuation | (12,000,000) | |||
Fair value | 35,163,000,000 | |||
Equity securities | ||||
Inter segment transaction [Line Items] | ||||
Amortized cost | 982,393,000,000 | |||
Cumulative gains on valuation | 430,921,000,000 | |||
Cumulative losses on valuation | (2,236,000,000) | |||
Fair value | 1,411,078,000,000 | |||
Beneficiary certificates | ||||
Inter segment transaction [Line Items] | ||||
Amortized cost | 697,655,000,000 | |||
Cumulative gains on valuation | 18,701,000,000 | |||
Cumulative losses on valuation | (3,728,000,000) | |||
Fair value | 712,628,000,000 | |||
Securities loaned | ||||
Inter segment transaction [Line Items] | ||||
Amortized cost | 169,988,000,000 | |||
Cumulative gains on valuation | 664,000,000 | |||
Cumulative losses on valuation | (396,000,000) | |||
Fair value | ₩ 170,256,000,000 | |||
[1] | The consolidated statements of financial position as of December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of financial position as of December 31, 2017 were not retrospectively restated in accordance with IFRS 9. |
Financial assets at FVTOCI and
Financial assets at FVTOCI and AFS financial assets_Details of equity securities designated as financial assets at FVTOCI (Details) ₩ in Millions | 12 Months Ended |
Dec. 31, 2018KRW (₩) | |
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [Line Items] | |
Investments in equity instruments designated at fair value through other comprehensive income | ₩ 951,174 |
Description of reason for disposing of investments in equity instruments designated at fair value through other comprehensive income | The Group disposed equity securities designated as financial assets at FVTOCI as the creditors determined to sell the securities for the year ended December 31, 2018. |
Fair value | ₩ 9,379 |
Cumulative gain (loss) on disposal of investments in equity instruments designated at fair value through other comprehensive income | 1,392 |
Strategic business partnership | |
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [Line Items] | |
Investments in equity instruments designated at fair value through other comprehensive income | ₩ 662,934 |
Description of reason for using presentation alternative | Strategic business partnership |
Debt-equity swap | |
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [Line Items] | |
Investments in equity instruments designated at fair value through other comprehensive income | ₩ 287,990 |
Description of reason for using presentation alternative | Debt-equity swap |
Others(Cooperative insurance, etc.) | |
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [Line Items] | |
Investments in equity instruments designated at fair value through other comprehensive income | ₩ 250 |
Description of reason for using presentation alternative | Others (Cooperative insurance, etc.) |
Financial assets at FVTOCI an_2
Financial assets at FVTOCI and AFS financial assets_Changes in loss allowance of financial assets at FVTOCI (Details) - KRW (₩) | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Disclosure of reconciliation of changes in loss allowance for financial assets at fair value through other comprehensive income [Line Items] | |||||
Beginning balance | [1] | ₩ (4,236,000,000) | |||
Increase (decrease) in impairment loss financial assets at financial assets at fair value through other comprehensive income [Abstract] | |||||
Transfer to 12-month expected credit losses | 0 | ||||
Transfer to lifetime expected credit losses | 0 | ||||
Transfer to credit impaired financial assets | 0 | ||||
Impairment loss due to credit loss on financial assets measured at FVTOCI | (2,027,000,000) | ₩ 0 | ₩ 0 | ||
Other | [2] | 86,000,000 | |||
Ending balance | (6,177,000,000) | (4,236,000,000) | [1] | ||
Financial assets at fair value through other comprehensive income, category [Member] | Stage 1 | |||||
Disclosure of reconciliation of changes in loss allowance for financial assets at fair value through other comprehensive income [Line Items] | |||||
Beginning balance | [1] | (4,107,000,000) | |||
Increase (decrease) in impairment loss financial assets at financial assets at fair value through other comprehensive income [Abstract] | |||||
Transfer to 12-month expected credit losses | 0 | ||||
Transfer to lifetime expected credit losses | 0 | ||||
Transfer to credit impaired financial assets | 0 | ||||
Impairment loss due to credit loss on financial assets measured at FVTOCI | (1,918,000,000) | ||||
Other | [2] | 86,000,000 | |||
Ending balance | (5,939,000,000) | (4,107,000,000) | [1] | ||
Financial assets at fair value through other comprehensive income, category [Member] | Stage 2 | |||||
Disclosure of reconciliation of changes in loss allowance for financial assets at fair value through other comprehensive income [Line Items] | |||||
Beginning balance | [1] | (129,000,000) | |||
Increase (decrease) in impairment loss financial assets at financial assets at fair value through other comprehensive income [Abstract] | |||||
Transfer to 12-month expected credit losses | 0 | ||||
Transfer to lifetime expected credit losses | 0 | ||||
Transfer to credit impaired financial assets | 0 | ||||
Impairment loss due to credit loss on financial assets measured at FVTOCI | (109,000,000) | ||||
Other | [2] | 0 | |||
Ending balance | (238,000,000) | (129,000,000) | [1] | ||
Financial assets at fair value through other comprehensive income, category [Member] | Stage 3 | |||||
Disclosure of reconciliation of changes in loss allowance for financial assets at fair value through other comprehensive income [Line Items] | |||||
Beginning balance | [1] | 0 | |||
Increase (decrease) in impairment loss financial assets at financial assets at fair value through other comprehensive income [Abstract] | |||||
Transfer to 12-month expected credit losses | 0 | ||||
Transfer to lifetime expected credit losses | 0 | ||||
Transfer to credit impaired financial assets | 0 | ||||
Impairment loss due to credit loss on financial assets measured at FVTOCI | 0 | ||||
Other | [2] | 0 | |||
Ending balance | ₩ 0 | ₩ 0 | [1] | ||
[1] | The beginning balance was restated in accordance with IFRS 9. | ||||
[2] | Others consist of foreign currencies translation, etc. |
Financial assets at FVTOCI an_3
Financial assets at FVTOCI and AFS financial assets_Changes in gross carrying amount of financial assets at FVTOCI (Details) | 12 Months Ended | |
Dec. 31, 2018KRW (₩) | ||
Explanation of changes in gross carrying amount for financial assets at fair value through other comprehensive income [Line Items] | ||
Beginning balance | ₩ 12,874,209,000,000 | |
Increase (decrease) in financial assets [Abstract] | ||
Transfer to 12-month expected credit losses | 0 | |
Transfer to lifetime expected credit losses | 0 | |
Transfer to credit impaired financial assets | 0 | |
Acquisition | 13,285,429,000,000 | |
Disposal | (9,161,354,000,000) | |
Gain (loss) on valuation | 69,958,000,000 | |
Amortization on the effective interest method | 10,242,000,000 | |
Others | 33,765,000,000 | [1] |
Ending balance | 17,112,249,000,000 | |
Financial assets at fair value through other comprehensive income, category [Member] | Stage 1 | ||
Explanation of changes in gross carrying amount for financial assets at fair value through other comprehensive income [Line Items] | ||
Beginning balance | 12,843,997,000,000 | |
Increase (decrease) in financial assets [Abstract] | ||
Transfer to 12-month expected credit losses | 0 | |
Transfer to lifetime expected credit losses | 0 | |
Transfer to credit impaired financial assets | 0 | |
Acquisition | 13,275,429,000,000 | |
Disposal | (9,146,307,000,000) | |
Gain (loss) on valuation | 70,017,000,000 | |
Amortization on the effective interest method | 10,195,000,000 | |
Others | 33,765,000,000 | [1] |
Ending balance | 17,087,096,000,000 | |
Financial assets at fair value through other comprehensive income, category [Member] | Stage 2 | ||
Explanation of changes in gross carrying amount for financial assets at fair value through other comprehensive income [Line Items] | ||
Beginning balance | 30,212,000,000 | |
Increase (decrease) in financial assets [Abstract] | ||
Transfer to 12-month expected credit losses | 0 | |
Transfer to lifetime expected credit losses | 0 | |
Transfer to credit impaired financial assets | 0 | |
Acquisition | 10,000,000,000 | |
Disposal | (15,047,000,000) | |
Gain (loss) on valuation | (59,000,000) | |
Amortization on the effective interest method | 47,000,000 | |
Others | 0 | [1] |
Ending balance | 25,153,000,000 | |
Financial assets at fair value through other comprehensive income, category [Member] | Stage 3 | ||
Explanation of changes in gross carrying amount for financial assets at fair value through other comprehensive income [Line Items] | ||
Beginning balance | 0 | |
Increase (decrease) in financial assets [Abstract] | ||
Transfer to 12-month expected credit losses | 0 | |
Transfer to lifetime expected credit losses | 0 | |
Transfer to credit impaired financial assets | 0 | |
Acquisition | 0 | |
Disposal | 0 | |
Gain (loss) on valuation | 0 | |
Amortization on the effective interest method | 0 | |
Others | 0 | [1] |
Ending balance | ₩ 0 | |
[1] | Others consist of foreign currencies translation, etc. |
Financial assets at FVTOCI_Deta
Financial assets at FVTOCI_Details of financial assets at FVTOCI (Details) $ in Thousands | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | |
Disclosure of financial assets at fair value through other comprehensive income [Line Items] | ||||
Financial assets at FVTOCI | [1] | ₩ 18,063,423,000,000 | $ 16,230,949 | ₩ 0 |
Debt Securities | ||||
Disclosure of financial assets at fair value through other comprehensive income [Line Items] | ||||
Financial assets at FVTOCI | 17,072,220,000,000 | |||
Korean treasury and government agencies | ||||
Disclosure of financial assets at fair value through other comprehensive income [Line Items] | ||||
Financial assets at FVTOCI | 1,358,378,000,000 | |||
Financial institutions | ||||
Disclosure of financial assets at fair value through other comprehensive income [Line Items] | ||||
Financial assets at FVTOCI | 11,252,790,000,000 | |||
Corporates | ||||
Disclosure of financial assets at fair value through other comprehensive income [Line Items] | ||||
Financial assets at FVTOCI | 1,824,843,000,000 | |||
Bond denominated in foreign currencies | ||||
Disclosure of financial assets at fair value through other comprehensive income [Line Items] | ||||
Financial assets at FVTOCI | 2,636,209,000,000 | |||
Equity securities | ||||
Disclosure of financial assets at fair value through other comprehensive income [Line Items] | ||||
Financial assets at FVTOCI | 951,174,000,000 | |||
Securities loaned | ||||
Disclosure of financial assets at fair value through other comprehensive income [Line Items] | ||||
Financial assets at FVTOCI | ₩ 40,029,000,000 | |||
[1] | The consolidated statements of financial position as of December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of financial position as of December 31, 2017 were not retrospectively restated in accordance with IFRS 9. |
Securities at amortized cost_De
Securities at amortized cost_Details of securities at amortized cost (Details) $ in Thousands | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | |
Disclosure of securities at amortised cost and held to maturity financial assets [Line Items] | ||||
Securities at amortized cost | [1] | ₩ 22,932,559,000,000 | $ 20,606,127 | ₩ 0 |
Securities at amortised cost and held to maturity investments category [Member] | Loss allowance | ||||
Disclosure of securities at amortised cost and held to maturity financial assets [Line Items] | ||||
Securities at amortized cost | (6,925,000,000) | |||
Korean treasury and government agencies | ||||
Disclosure of securities at amortised cost and held to maturity financial assets [Line Items] | ||||
Securities at amortized cost | 7,523,458,000,000 | |||
Financial institutions | ||||
Disclosure of securities at amortised cost and held to maturity financial assets [Line Items] | ||||
Securities at amortized cost | 9,474,922,000,000 | |||
Corporates | ||||
Disclosure of securities at amortised cost and held to maturity financial assets [Line Items] | ||||
Securities at amortized cost | 5,707,063,000,000 | |||
Bond denominated in foreign currencies | ||||
Disclosure of securities at amortised cost and held to maturity financial assets [Line Items] | ||||
Securities at amortized cost | ₩ 234,041,000,000 | |||
[1] | The consolidated statements of financial position as of December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of financial position as of December 31, 2017 were not retrospectively restated in accordance with IFRS 9. |
Securities at amortized cost _3
Securities at amortized cost and HTM financial assets_Changes in loss allowance of securities at amortized cost (Details) - KRW (₩) | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Disclosure of reconciliation of changes in loss allowance for securities at amortised cost [Line Items] | |||||
Beginning balance | [1] | ₩ (5,078,000,000) | |||
Increase (decrease) in impairment loss securities at amortised cost [Abstract] | |||||
Transfer to 12-month expected credit losses | 0 | ||||
Transfer to lifetime expected credit losses | 0 | ||||
Transfer to credit-impaired financial assets | 0 | ||||
Impairment loss due to credit loss on securities at amortized cost | (1,922,000,000) | ₩ 0 | ₩ 0 | ||
Disposal | 22,000,000 | ||||
Others | [2] | 54,000,000 | |||
Ending balance | (6,924,000,000) | (5,078,000,000) | [1] | ||
Securities at amortized cost | Stage 1 | |||||
Disclosure of reconciliation of changes in loss allowance for securities at amortised cost [Line Items] | |||||
Beginning balance | [1] | (5,078,000,000) | |||
Increase (decrease) in impairment loss securities at amortised cost [Abstract] | |||||
Transfer to 12-month expected credit losses | 0 | ||||
Transfer to lifetime expected credit losses | 0 | ||||
Transfer to credit-impaired financial assets | 0 | ||||
Impairment loss due to credit loss on securities at amortized cost | (1,922,000,000) | ||||
Disposal | 22,000,000 | ||||
Others | [2] | 54,000,000 | |||
Ending balance | (6,924,000,000) | (5,078,000,000) | [1] | ||
Securities at amortized cost | Stage 2 | |||||
Disclosure of reconciliation of changes in loss allowance for securities at amortised cost [Line Items] | |||||
Beginning balance | [1] | 0 | |||
Increase (decrease) in impairment loss securities at amortised cost [Abstract] | |||||
Transfer to 12-month expected credit losses | 0 | ||||
Transfer to lifetime expected credit losses | 0 | ||||
Transfer to credit-impaired financial assets | 0 | ||||
Impairment loss due to credit loss on securities at amortized cost | 0 | ||||
Disposal | 0 | ||||
Others | [2] | 0 | |||
Ending balance | 0 | 0 | [1] | ||
Securities at amortized cost | Stage 3 | |||||
Disclosure of reconciliation of changes in loss allowance for securities at amortised cost [Line Items] | |||||
Beginning balance | [1] | 0 | |||
Increase (decrease) in impairment loss securities at amortised cost [Abstract] | |||||
Transfer to 12-month expected credit losses | 0 | ||||
Transfer to lifetime expected credit losses | 0 | ||||
Transfer to credit-impaired financial assets | 0 | ||||
Impairment loss due to credit loss on securities at amortized cost | 0 | ||||
Disposal | 0 | ||||
Others | [2] | 0 | |||
Ending balance | ₩ 0 | ₩ 0 | [1] | ||
[1] | The beginning balance was restated in accordance with IFRS 9. | ||||
[2] | Others consist of foreign currencies translation, etc. |
Securities at amortized cost _4
Securities at amortized cost and HTM financial assets_Changes in carrying amount of securities at amortized cost (Details) | 12 Months Ended | |
Dec. 31, 2018KRW (₩) | ||
Explanation of changes in gross carrying amount for securities at amortised cost [Line Items] | ||
Beginning balance | ₩ 16,749,296,000,000 | |
Increase (decrease) in impairment loss securities at amortised cost [Abstract] | ||
Transfer to 12-month expected credit losses | 0 | |
Transfer to lifetime expected credit losses | 0 | |
Transfer to credit impaired financial assets | 0 | |
Acquisition | 15,622,847,000,000 | |
Disposal and Redemption | (9,426,757,000,000) | |
Amortization on the effective interest method | (7,970,000,000) | |
Others | 2,068,000,000 | [1] |
Ending balance | 22,939,484,000,000 | |
Securities at amortized cost | Stage 1 | ||
Explanation of changes in gross carrying amount for securities at amortised cost [Line Items] | ||
Beginning balance | 16,749,296,000,000 | |
Increase (decrease) in impairment loss securities at amortised cost [Abstract] | ||
Transfer to 12-month expected credit losses | 0 | |
Transfer to lifetime expected credit losses | 0 | |
Transfer to credit impaired financial assets | 0 | |
Acquisition | 15,622,847,000,000 | |
Disposal and Redemption | (9,426,757,000,000) | |
Amortization on the effective interest method | (7,970,000,000) | |
Others | 2,068,000,000 | [1] |
Ending balance | 22,939,484,000,000 | |
Securities at amortized cost | Stage 2 | ||
Explanation of changes in gross carrying amount for securities at amortised cost [Line Items] | ||
Beginning balance | 0 | |
Increase (decrease) in impairment loss securities at amortised cost [Abstract] | ||
Transfer to 12-month expected credit losses | 0 | |
Transfer to lifetime expected credit losses | 0 | |
Transfer to credit impaired financial assets | 0 | |
Acquisition | 0 | |
Disposal and Redemption | 0 | |
Amortization on the effective interest method | 0 | |
Others | 0 | [1] |
Ending balance | 0 | |
Securities at amortized cost | Stage 3 | ||
Explanation of changes in gross carrying amount for securities at amortised cost [Line Items] | ||
Beginning balance | 0 | |
Increase (decrease) in impairment loss securities at amortised cost [Abstract] | ||
Transfer to 12-month expected credit losses | 0 | |
Transfer to lifetime expected credit losses | 0 | |
Transfer to credit impaired financial assets | 0 | |
Acquisition | 0 | |
Disposal and Redemption | 0 | |
Amortization on the effective interest method | 0 | |
Others | 0 | [1] |
Ending balance | ₩ 0 | |
[1] | Others consist of foreign currencies translation, etc. |
HTM financial assets_Details of
HTM financial assets_Details of HTM financial assets (Details) | 12 Months Ended | |||
Dec. 31, 2017KRW (₩) | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | ||
Schedule of held to maturity securities [Line Items] | ||||
Amortized cost | [1] | ₩ 16,749,296,000,000 | ₩ 0 | $ 0 |
Cumulative gains on valuation | 23,066,000,000 | |||
Cumulative losses on valuation | (56,683,000,000) | |||
Fair value | 16,715,679,000,000 | |||
Korean treasury and government agencies | ||||
Schedule of held to maturity securities [Line Items] | ||||
Amortized cost | 3,994,857,000,000 | |||
Cumulative gains on valuation | 6,944,000,000 | |||
Cumulative losses on valuation | (15,266,000,000) | |||
Fair value | 3,986,535,000,000 | |||
Financial institutions | ||||
Schedule of held to maturity securities [Line Items] | ||||
Amortized cost | 7,245,426,000,000 | |||
Cumulative gains on valuation | 2,923,000,000 | |||
Cumulative losses on valuation | (15,067,000,000) | |||
Fair value | 7,233,282,000,000 | |||
Corporates | ||||
Schedule of held to maturity securities [Line Items] | ||||
Amortized cost | 5,311,970,000,000 | |||
Cumulative gains on valuation | 12,367,000,000 | |||
Cumulative losses on valuation | (25,326,000,000) | |||
Fair value | 5,299,011,000,000 | |||
Bond denominated in foreign currencies | ||||
Schedule of held to maturity securities [Line Items] | ||||
Amortized cost | 197,043,000,000 | |||
Cumulative gains on valuation | 832,000,000 | |||
Cumulative losses on valuation | (1,024,000,000) | |||
Fair value | ₩ 196,851,000,000 | |||
[1] | The consolidated statements of financial position as of December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of financial position as of December 31, 2017 were not retrospectively restated in accordance with IFRS 9. |
Loans and other financial ass_3
Loans and other financial assets at amortized cost, and loans and receivables_Details of loans and other financial assets at amortized cost, and loans and receivables (Details) | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | |
Disclosure of loans and other financial assets at amortised cost and loans and receivables [Abstract] | ||||
Due from banks | ₩ 14,151,012,000,000 | ₩ 8,868,378,000,000 | ||
Loans | 260,819,917,000,000 | 251,523,301,000,000 | ||
Other financial assets (other receivables) | 7,486,649,000,000 | 6,714,525,000,000 | ||
Total | [1] | 0 | $ 0 | 267,106,204,000,000 |
Total | [1] | ₩ 282,457,578,000,000 | $ 253,803,197,000 | ₩ 0 |
[1] | The consolidated statements of financial position as of December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of financial position as of December 31, 2017 were not retrospectively restated in accordance with IFRS 9. |
Loans and other financial ass_4
Loans and other financial assets at amortized cost, and loans and receivables_Details of due from banks (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Cashand cash equivalents [Line Items] | ||
Total | ₩ 14,151,012 | ₩ 8,868,378 |
Due from banks in local currency | ||
Cashand cash equivalents [Line Items] | ||
Total | 11,238,512 | 6,422,473 |
Due from banks in local currency | Loss allowance | ||
Cashand cash equivalents [Line Items] | ||
Total | (3,069) | (1,541) |
Due from banks in local currency | Due from the Bank of Korea | Gross carrying amount [Member] | ||
Cashand cash equivalents [Line Items] | ||
Total | 11,034,602 | 6,246,496 |
Due from banks in local currency | Due from the depository banks | Gross carrying amount [Member] | ||
Cashand cash equivalents [Line Items] | ||
Total | 90,988 | 30,003 |
Due from banks in local currency | Due from non-depository institutions | Gross carrying amount [Member] | ||
Cashand cash equivalents [Line Items] | ||
Total | 76 | 150 |
Due from banks in local currency | Due from the Korea Exchange | Gross carrying amount [Member] | ||
Cashand cash equivalents [Line Items] | ||
Total | 30,000 | 50,000 |
Due from banks in local currency | Others | Gross carrying amount [Member] | ||
Cashand cash equivalents [Line Items] | ||
Total | 85,915 | 97,365 |
Due from banks in foreign currencies | ||
Cashand cash equivalents [Line Items] | ||
Total | 2,912,500 | 2,445,905 |
Due from banks in foreign currencies | Loss allowance | ||
Cashand cash equivalents [Line Items] | ||
Total | (2,318) | (917) |
Due from banks in foreign currencies | Due from banks on demand | Gross carrying amount [Member] | ||
Cashand cash equivalents [Line Items] | ||
Total | 828,022 | 794,353 |
Due from banks in foreign currencies | Due from banks on time | Gross carrying amount [Member] | ||
Cashand cash equivalents [Line Items] | ||
Total | 1,288,303 | 972,915 |
Due from banks in foreign currencies | Others | Gross carrying amount [Member] | ||
Cashand cash equivalents [Line Items] | ||
Total | ₩ 798,493 | ₩ 679,554 |
Loans and other financial ass_5
Loans and other financial assets at amortized cost, and loans and receivables_Details of restricted due from banks (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Restricted due from financial institutions [Line Items] | ||
Total | ₩ 12,695,560 | ₩ 7,495,518 |
Due from banks in local currency | ||
Restricted due from financial institutions [Line Items] | ||
Total | 11,116,491 | 6,340,890 |
Due from banks in local currency | Due from the Bank of Korea | ||
Restricted due from financial institutions [Line Items] | ||
Total | ₩ 11,034,602 | ₩ 6,246,496 |
Reason of restriction | Reserve deposits under BOK Act | Reserve deposits under BOK Act |
Counterparty | The BOK | The BOK |
Due from banks in local currency | Others | ||
Restricted due from financial institutions [Line Items] | ||
Total | ₩ 81,889 | ₩ 94,394 |
Reason of restriction | Central counter party KRW margin and others | Central counterparty KRW margin and others |
Counterparty | The Korea Exchange and others | The Korea Exchange and others |
Due from banks in foreign currencies | ||
Restricted due from financial institutions [Line Items] | ||
Total | ₩ 1,579,069 | ₩ 1,154,628 |
Due from banks in foreign currencies | Due from banks on demand | ||
Restricted due from financial institutions [Line Items] | ||
Total | ₩ 780,576 | ₩ 787,520 |
Reason of restriction | Reserve deposits under the BOK Act and others | Reserve deposits under the BOK Act and others |
Counterparty | The BOK and others | The BOK and others |
Due from banks in foreign currencies | Others | ||
Restricted due from financial institutions [Line Items] | ||
Total | ₩ 798,493 | ₩ 367,108 |
Reason of restriction | Overseas futures and options trade deposits and others | Reserve deposits and others |
Counterparty | Korea Investment & Securities and others | The People's Bank of China and others |
Loans and other financial ass_6
Loans and other financial assets at amortized cost, and loans and receivables_Changes in loss allowance of due from banks (Details) | 12 Months Ended | |
Dec. 31, 2018KRW (₩) | ||
Reconciliation of changes in loss allowance for due from financial institutions [Line Items] | ||
Beginning balance | ₩ (3,092,000,000) | [1] |
Increase (decrease) in impairment loss due from financial institutions [Abstract] | ||
Transfer to 12-month expected credit losses | 0 | |
Transfer to lifetime expected credit losses | 0 | |
Transfer to credit impaired financial assets | 0 | |
Net provision of loss allowance | (2,219,000,000) | |
Others | (76,000,000) | [2] |
Ending balance | (5,387,000,000) | |
Stage 1 | ||
Reconciliation of changes in loss allowance for due from financial institutions [Line Items] | ||
Beginning balance | (3,092,000,000) | [1] |
Increase (decrease) in impairment loss due from financial institutions [Abstract] | ||
Transfer to 12-month expected credit losses | 0 | |
Transfer to lifetime expected credit losses | 0 | |
Transfer to credit impaired financial assets | 0 | |
Net provision of loss allowance | (2,219,000,000) | |
Others | (76,000,000) | [2] |
Ending balance | (5,387,000,000) | |
Stage 2 | ||
Reconciliation of changes in loss allowance for due from financial institutions [Line Items] | ||
Beginning balance | 0 | [1] |
Increase (decrease) in impairment loss due from financial institutions [Abstract] | ||
Transfer to 12-month expected credit losses | 0 | |
Transfer to lifetime expected credit losses | 0 | |
Transfer to credit impaired financial assets | 0 | |
Net provision of loss allowance | 0 | |
Others | 0 | [2] |
Ending balance | 0 | |
Stage 3 | ||
Reconciliation of changes in loss allowance for due from financial institutions [Line Items] | ||
Beginning balance | 0 | [1] |
Increase (decrease) in impairment loss due from financial institutions [Abstract] | ||
Transfer to 12-month expected credit losses | 0 | |
Transfer to lifetime expected credit losses | 0 | |
Transfer to credit impaired financial assets | 0 | |
Net provision of loss allowance | 0 | |
Others | 0 | [2] |
Ending balance | ₩ 0 | |
[1] | The beginning balance was restated in accordance with IFRS 9. | |
[2] | Others consist of foreign currencies translation, etc. |
Loans and other financial ass_7
Loans and other financial assets at amortized cost, and loans and receivables_Changes in gross carrying amount of due from banks (Details) | 12 Months Ended |
Dec. 31, 2018KRW (₩) | |
Reconciliation of changes in gross carrying amount of due from financial institutions [Line Items] | |
Beginning balance | ₩ 8,870,835,000,000 |
Changes in gross carrying amount of due from financial institutions [Abstract] | |
Transfer to 12-month expected credit losses | 0 |
Transfer to lifetime expected credit losses | 0 |
Transfer to credit-impaired financial assets | 0 |
Net increase | 5,302,244,000,000 |
Others | (16,680,000,000) |
Ending balance | 14,156,399,000,000 |
Stage 1 | |
Reconciliation of changes in gross carrying amount of due from financial institutions [Line Items] | |
Beginning balance | 8,870,835,000,000 |
Changes in gross carrying amount of due from financial institutions [Abstract] | |
Transfer to 12-month expected credit losses | 0 |
Transfer to lifetime expected credit losses | 0 |
Transfer to credit-impaired financial assets | 0 |
Net increase | 5,302,244,000,000 |
Others | (16,680,000,000) |
Ending balance | 14,156,399,000,000 |
Stage 2 | |
Reconciliation of changes in gross carrying amount of due from financial institutions [Line Items] | |
Beginning balance | 0 |
Changes in gross carrying amount of due from financial institutions [Abstract] | |
Transfer to 12-month expected credit losses | 0 |
Transfer to lifetime expected credit losses | 0 |
Transfer to credit-impaired financial assets | 0 |
Net increase | 0 |
Others | 0 |
Ending balance | 0 |
Stage 3 | |
Reconciliation of changes in gross carrying amount of due from financial institutions [Line Items] | |
Beginning balance | 0 |
Changes in gross carrying amount of due from financial institutions [Abstract] | |
Transfer to 12-month expected credit losses | 0 |
Transfer to lifetime expected credit losses | 0 |
Transfer to credit-impaired financial assets | 0 |
Net increase | 0 |
Others | 0 |
Ending balance | ₩ 0 |
Loans and other financial ass_8
Loans and other financial assets at amortized cost, and loans and receivables_Details of loans (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of loans other than banks [Line Items] | ||
Total | ₩ 260,819,917 | ₩ 251,523,301 |
Dicounted present value | ||
Disclosure of loans other than banks [Line Items] | ||
Total | (10,308) | (10,988) |
Loss allowance | ||
Disclosure of loans other than banks [Line Items] | ||
Total | (1,778,076) | (1,770,222) |
Loans in local currency | Gross carrying amount [Member] | ||
Disclosure of loans other than banks [Line Items] | ||
Total | 210,701,421 | 200,213,230 |
Loans in foreign currencies | Gross carrying amount [Member] | ||
Disclosure of loans other than banks [Line Items] | ||
Total | 15,239,032 | 13,147,888 |
Domestic banker's letter of credit | Gross carrying amount [Member] | ||
Disclosure of loans other than banks [Line Items] | ||
Total | 2,934,366 | 2,516,907 |
Credit card accounts | Gross carrying amount [Member] | ||
Disclosure of loans other than banks [Line Items] | ||
Total | 8,051,384 | 6,827,295 |
Bills bought in foreign currencies | Gross carrying amount [Member] | ||
Disclosure of loans other than banks [Line Items] | ||
Total | 7,874,457 | 8,197,159 |
Bills bought in local currency | Gross carrying amount [Member] | ||
Disclosure of loans other than banks [Line Items] | ||
Total | 22,885 | 334,714 |
Factoring receivables | Gross carrying amount [Member] | ||
Disclosure of loans other than banks [Line Items] | ||
Total | 45,851 | 137,523 |
Advances for customers on guarantees | Gross carrying amount [Member] | ||
Disclosure of loans other than banks [Line Items] | ||
Total | 13,810 | 23,620 |
Privately placed bonds | Gross carrying amount [Member] | ||
Disclosure of loans other than banks [Line Items] | ||
Total | 365,531 | 362,319 |
Securitized loans | Gross carrying amount [Member] | ||
Disclosure of loans other than banks [Line Items] | ||
Total | 1,377,072 | 563,152 |
Call loans | Gross carrying amount [Member] | ||
Disclosure of loans other than banks [Line Items] | ||
Total | 2,669,080 | 3,003,455 |
Bonds purchased under resale agreements | Gross carrying amount [Member] | ||
Disclosure of loans other than banks [Line Items] | ||
Total | 11,701,951 | 16,859,064 |
Loan origination costs and fees | Gross carrying amount [Member] | ||
Disclosure of loans other than banks [Line Items] | ||
Total | 1,037,283 | 510,860 |
Others | Gross carrying amount [Member] | ||
Disclosure of loans other than banks [Line Items] | ||
Total | ₩ 574,178 | ₩ 607,325 |
Loans and other financial ass_9
Loans and other financial assets at amortized cost, and loans and receivables_Changes in loss allowance on loans (Details) - KRW (₩) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | ||||
Beginning balance | ₩ (1,830,242,000,000) | ₩ (2,027,096,000,000) | ₩ (2,478,057,000,000) | |
Beginning balance | [1] | (2,017,876,000,000) | ||
Changes in allowance account for credit losses of financial assets [Abstract] | ||||
Transfer to 12-month expected credit losses | 0 | |||
Transfer to lifetime expected credit losses | 0 | |||
Transfer to credit-impaired financial assets | 0 | |||
Net reversal (provision) of loss allowance | (374,566,000,000) | |||
Recoveries of loans previously charged off | (237,050,000,000) | |||
Charge off | 737,540,000,000 | |||
Disposal | 51,805,000,000 | |||
Unwinding effect | 31,326,000,000 | |||
Others | [2] | 30,745,000,000 | ||
Net reversal of provision (net provision) | (862,273,000,000) | (890,763,000,000) | ||
Recoveries of written off loans | (180,907,000,000) | (309,488,000,000) | ||
Charge off | 887,169,000,000 | 1,357,201,000,000 | ||
Sales of loans and receivables | 95,229,000,000 | 207,032,000,000 | ||
Unwinding effect | 45,191,000,000 | 77,220,000,000 | ||
Others | [2] | 212,445,000,000 | 9,759,000,000 | |
Ending balance | (1,778,076,000,000) | (1,830,242,000,000) | (2,027,096,000,000) | |
Stage 1 | ||||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | ||||
Beginning balance | [1] | (523,864,000,000) | ||
Changes in allowance account for credit losses of financial assets [Abstract] | ||||
Transfer to 12-month expected credit losses | (48,018,000,000) | |||
Transfer to lifetime expected credit losses | 26,850,000,000 | |||
Transfer to credit-impaired financial assets | 224,215,000,000 | |||
Net reversal (provision) of loss allowance | (236,688,000,000) | |||
Recoveries of loans previously charged off | 0 | |||
Charge off | 0 | |||
Disposal | 0 | |||
Unwinding effect | 0 | |||
Others | [2] | 29,898,000,000 | ||
Ending balance | (527,607,000,000) | |||
Stage 2 | ||||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | ||||
Beginning balance | [1] | (368,743,000,000) | ||
Changes in allowance account for credit losses of financial assets [Abstract] | ||||
Transfer to 12-month expected credit losses | 45,362,000,000 | |||
Transfer to lifetime expected credit losses | (421,157,000,000) | |||
Transfer to credit-impaired financial assets | 229,141,000,000 | |||
Net reversal (provision) of loss allowance | 38,968,000,000 | |||
Recoveries of loans previously charged off | 0 | |||
Charge off | 0 | |||
Disposal | 270,000,000 | |||
Unwinding effect | 0 | |||
Others | [2] | 41,000,000 | ||
Ending balance | (476,118,000,000) | |||
Stage 3 | ||||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | ||||
Beginning balance | [1] | (1,125,269,000,000) | ||
Changes in allowance account for credit losses of financial assets [Abstract] | ||||
Transfer to 12-month expected credit losses | 2,656,000,000 | |||
Transfer to lifetime expected credit losses | 394,307,000,000 | |||
Transfer to credit-impaired financial assets | (453,356,000,000) | |||
Net reversal (provision) of loss allowance | (176,846,000,000) | |||
Recoveries of loans previously charged off | (237,050,000,000) | |||
Charge off | 737,540,000,000 | |||
Disposal | 51,535,000,000 | |||
Unwinding effect | 31,326,000,000 | |||
Others | [2] | 806,000,000 | ||
Ending balance | (774,351,000,000) | |||
Consumers | ||||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | ||||
Beginning balance | (187,645,000,000) | (163,858,000,000) | (203,433,000,000) | |
Changes in allowance account for credit losses of financial assets [Abstract] | ||||
Net reversal of provision (net provision) | (131,275,000,000) | (73,356,000,000) | ||
Recoveries of written off loans | (45,060,000,000) | (53,679,000,000) | ||
Charge off | 142,099,000,000 | 155,424,000,000 | ||
Sales of loans and receivables | 898,000,000 | 2,055,000,000 | ||
Unwinding effect | 8,643,000,000 | 10,319,000,000 | ||
Others | [2] | 908,000,000 | (1,188,000,000) | |
Ending balance | (187,645,000,000) | (163,858,000,000) | ||
Consumers | Stage 1 | ||||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | ||||
Beginning balance | [1] | (101,479,000,000) | ||
Changes in allowance account for credit losses of financial assets [Abstract] | ||||
Transfer to 12-month expected credit losses | (9,848,000,000) | |||
Transfer to lifetime expected credit losses | 5,905,000,000 | |||
Transfer to credit-impaired financial assets | 79,078,000,000 | |||
Net reversal (provision) of loss allowance | (86,224,000,000) | |||
Recoveries of loans previously charged off | 0 | |||
Charge off | 0 | |||
Disposal | 0 | |||
Unwinding effect | 0 | |||
Others | [2] | (1,941,000,000) | ||
Ending balance | (114,509,000,000) | |||
Consumers | Stage 2 | ||||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | ||||
Beginning balance | [1] | (41,358,000,000) | ||
Changes in allowance account for credit losses of financial assets [Abstract] | ||||
Transfer to 12-month expected credit losses | 8,966,000,000 | |||
Transfer to lifetime expected credit losses | (7,183,000,000) | |||
Transfer to credit-impaired financial assets | 47,343,000,000 | |||
Net reversal (provision) of loss allowance | (56,164,000,000) | |||
Recoveries of loans previously charged off | 0 | |||
Charge off | 0 | |||
Disposal | 33,000,000 | |||
Unwinding effect | 0 | |||
Others | [2] | (5,000,000) | ||
Ending balance | (48,368,000,000) | |||
Consumers | Stage 3 | ||||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | ||||
Beginning balance | [1] | (117,168,000,000) | ||
Changes in allowance account for credit losses of financial assets [Abstract] | ||||
Transfer to 12-month expected credit losses | 882,000,000 | |||
Transfer to lifetime expected credit losses | 1,278,000,000 | |||
Transfer to credit-impaired financial assets | (126,421,000,000) | |||
Net reversal (provision) of loss allowance | (49,637,000,000) | |||
Recoveries of loans previously charged off | (51,855,000,000) | |||
Charge off | 204,552,000,000 | |||
Disposal | 1,633,000,000 | |||
Unwinding effect | 7,945,000,000 | |||
Others | [2] | (1,115,000,000) | ||
Ending balance | (129,906,000,000) | |||
Corporates | ||||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | ||||
Beginning balance | (1,355,806,000,000) | (1,498,842,000,000) | (1,686,194,000,000) | |
Changes in allowance account for credit losses of financial assets [Abstract] | ||||
Net reversal of provision (net provision) | (539,222,000,000) | (536,359,000,000) | ||
Recoveries of written off loans | (84,413,000,000) | (192,183,000,000) | ||
Charge off | 453,249,000,000 | 722,359,000,000 | ||
Sales of loans and receivables | 65,145,000,000 | 113,177,000,000 | ||
Unwinding effect | 36,548,000,000 | 66,901,000,000 | ||
Others | [2] | 211,729,000,000 | 13,457,000,000 | |
Ending balance | (1,355,806,000,000) | (1,498,842,000,000) | ||
Corporates | Stage 1 | ||||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | ||||
Beginning balance | [1] | (365,251,000,000) | ||
Changes in allowance account for credit losses of financial assets [Abstract] | ||||
Transfer to 12-month expected credit losses | (24,324,000,000) | |||
Transfer to lifetime expected credit losses | 15,074,000,000 | |||
Transfer to credit-impaired financial assets | 62,731,000,000 | |||
Net reversal (provision) of loss allowance | (68,381,000,000) | |||
Recoveries of loans previously charged off | 0 | |||
Charge off | 0 | |||
Disposal | 0 | |||
Unwinding effect | 0 | |||
Others | [2] | 31,840,000,000 | ||
Ending balance | (348,311,000,000) | |||
Corporates | Stage 2 | ||||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | ||||
Beginning balance | [1] | (255,922,000,000) | ||
Changes in allowance account for credit losses of financial assets [Abstract] | ||||
Transfer to 12-month expected credit losses | 22,658,000,000 | |||
Transfer to lifetime expected credit losses | (407,780,000,000) | |||
Transfer to credit-impaired financial assets | 97,750,000,000 | |||
Net reversal (provision) of loss allowance | 193,392,000,000 | |||
Recoveries of loans previously charged off | 0 | |||
Charge off | 0 | |||
Disposal | 237,000,000 | |||
Unwinding effect | 0 | |||
Others | [2] | 46,000,000 | ||
Ending balance | (349,619,000,000) | |||
Corporates | Stage 3 | ||||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | ||||
Beginning balance | [1] | (905,243,000,000) | ||
Changes in allowance account for credit losses of financial assets [Abstract] | ||||
Transfer to 12-month expected credit losses | 1,666,000,000 | |||
Transfer to lifetime expected credit losses | 392,706,000,000 | |||
Transfer to credit-impaired financial assets | (160,481,000,000) | |||
Net reversal (provision) of loss allowance | (94,004,000,000) | |||
Recoveries of loans previously charged off | (127,630,000,000) | |||
Charge off | 290,109,000,000 | |||
Disposal | 49,902,000,000 | |||
Unwinding effect | 23,381,000,000 | |||
Others | [2] | 1,921,000,000 | ||
Ending balance | (527,673,000,000) | |||
Credit card | ||||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | ||||
Beginning balance | (182,065,000,000) | (155,372,000,000) | (145,810,000,000) | |
Changes in allowance account for credit losses of financial assets [Abstract] | ||||
Net reversal of provision (net provision) | (203,968,000,000) | (207,730,000,000) | ||
Recoveries of written off loans | (51,366,000,000) | (44,393,000,000) | ||
Charge off | 228,640,000,000 | 242,561,000,000 | ||
Sales of loans and receivables | 0 | 0 | ||
Unwinding effect | 0 | 0 | ||
Others | [2] | 1,000,000 | 0 | |
Ending balance | (182,065,000,000) | (155,372,000,000) | ||
Credit card | Stage 1 | ||||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | ||||
Beginning balance | [1] | (57,134,000,000) | ||
Changes in allowance account for credit losses of financial assets [Abstract] | ||||
Transfer to 12-month expected credit losses | (13,846,000,000) | |||
Transfer to lifetime expected credit losses | 5,871,000,000 | |||
Transfer to credit-impaired financial assets | 82,406,000,000 | |||
Net reversal (provision) of loss allowance | (82,083,000,000) | |||
Recoveries of loans previously charged off | 0 | |||
Charge off | 0 | |||
Disposal | 0 | |||
Unwinding effect | 0 | |||
Others | [2] | (1,000,000) | ||
Ending balance | (64,787,000,000) | |||
Credit card | Stage 2 | ||||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | ||||
Beginning balance | [1] | (71,463,000,000) | ||
Changes in allowance account for credit losses of financial assets [Abstract] | ||||
Transfer to 12-month expected credit losses | 13,738,000,000 | |||
Transfer to lifetime expected credit losses | (6,194,000,000) | |||
Transfer to credit-impaired financial assets | 84,048,000,000 | |||
Net reversal (provision) of loss allowance | (98,260,000,000) | |||
Recoveries of loans previously charged off | 0 | |||
Charge off | 0 | |||
Disposal | 0 | |||
Unwinding effect | 0 | |||
Others | [2] | 0 | ||
Ending balance | (78,131,000,000) | |||
Credit card | Stage 3 | ||||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | ||||
Beginning balance | [1] | (102,858,000,000) | ||
Changes in allowance account for credit losses of financial assets [Abstract] | ||||
Transfer to 12-month expected credit losses | 108,000,000 | |||
Transfer to lifetime expected credit losses | 323,000,000 | |||
Transfer to credit-impaired financial assets | (166,454,000,000) | |||
Net reversal (provision) of loss allowance | (33,205,000,000) | |||
Recoveries of loans previously charged off | (57,565,000,000) | |||
Charge off | 242,879,000,000 | |||
Disposal | 0 | |||
Unwinding effect | 0 | |||
Others | [2] | 0 | ||
Ending balance | (116,772,000,000) | |||
Others | ||||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | ||||
Beginning balance | ₩ (104,726,000,000) | (209,024,000,000) | (442,620,000,000) | |
Changes in allowance account for credit losses of financial assets [Abstract] | ||||
Net reversal of provision (net provision) | 12,192,000,000 | (73,318,000,000) | ||
Recoveries of written off loans | (68,000,000) | (19,233,000,000) | ||
Charge off | 63,181,000,000 | 236,857,000,000 | ||
Sales of loans and receivables | 29,186,000,000 | 91,800,000,000 | ||
Unwinding effect | 0 | 0 | ||
Others | [2] | (193,000,000) | (2,510,000,000) | |
Ending balance | ₩ (104,726,000,000) | ₩ (209,024,000,000) | ||
[1] | The beginning balance was restated in accordance with IFRS 9. | |||
[2] | Others consist of debt-equity swap, foreign currencies translation and etc. |
Loans and other financial as_10
Loans and other financial assets at amortized cost, and loans and receivables_Changes in gross carrying amount of loans (Details) | 12 Months Ended |
Dec. 31, 2018KRW (₩) | |
Reconciliation of changes in gross carrying amount of loans [Line Items] | |
Beginning balance | ₩ 253,336,995,000,000 |
Changes in gross carrying amount of loans [Abstract] | |
Transfer to 12-month expected credit losses | 0 |
Transfer to lifetime expected credit losses | 0 |
Transfer to credit-impaired financial assets | 0 |
Charge off | (737,540,000,000) |
Disposal | (201,516,000,000) |
Net increase (decrease) | 10,200,054,000,000 |
Ending balance | 262,597,993,000,000 |
Stage 1 | |
Reconciliation of changes in gross carrying amount of loans [Line Items] | |
Beginning balance | 240,320,486,000,000 |
Changes in gross carrying amount of loans [Abstract] | |
Transfer to 12-month expected credit losses | 3,225,171,000,000 |
Transfer to lifetime expected credit losses | (5,750,113,000,000) |
Transfer to credit-impaired financial assets | (671,905,000,000) |
Charge off | 0 |
Disposal | 0 |
Net increase (decrease) | 11,811,174,000,000 |
Ending balance | 248,934,813,000,000 |
Stage 2 | |
Reconciliation of changes in gross carrying amount of loans [Line Items] | |
Beginning balance | 10,889,378,000,000 |
Changes in gross carrying amount of loans [Abstract] | |
Transfer to 12-month expected credit losses | (3,211,782,000,000) |
Transfer to lifetime expected credit losses | 6,221,880,000,000 |
Transfer to credit-impaired financial assets | (498,394,000,000) |
Charge off | 0 |
Disposal | (3,259,000,000) |
Net increase (decrease) | (1,355,784,000,000) |
Ending balance | 12,042,039,000,000 |
Stage 3 | |
Reconciliation of changes in gross carrying amount of loans [Line Items] | |
Beginning balance | 2,127,131,000,000 |
Changes in gross carrying amount of loans [Abstract] | |
Transfer to 12-month expected credit losses | (13,389,000,000) |
Transfer to lifetime expected credit losses | (471,767,000,000) |
Transfer to credit-impaired financial assets | 1,170,299,000,000 |
Charge off | (737,540,000,000) |
Disposal | (198,257,000,000) |
Net increase (decrease) | (255,336,000,000) |
Ending balance | 1,621,141,000,000 |
Consumers | Stage 1 | |
Reconciliation of changes in gross carrying amount of loans [Line Items] | |
Beginning balance | 103,502,347,000,000 |
Changes in gross carrying amount of loans [Abstract] | |
Transfer to 12-month expected credit losses | 1,921,485,000,000 |
Transfer to lifetime expected credit losses | (3,186,506,000,000) |
Transfer to credit-impaired financial assets | (218,943,000,000) |
Charge off | 0 |
Disposal | 0 |
Net increase (decrease) | 8,600,859,000,000 |
Ending balance | 110,619,242,000,000 |
Consumers | Stage 2 | |
Reconciliation of changes in gross carrying amount of loans [Line Items] | |
Beginning balance | 5,487,758,000,000 |
Changes in gross carrying amount of loans [Abstract] | |
Transfer to 12-month expected credit losses | (1,912,046,000,000) |
Transfer to lifetime expected credit losses | 3,199,993,000,000 |
Transfer to credit-impaired financial assets | (127,447,000,000) |
Charge off | 0 |
Disposal | (478,000,000) |
Net increase (decrease) | (619,771,000,000) |
Ending balance | 6,028,009,000,000 |
Consumers | Stage 3 | |
Reconciliation of changes in gross carrying amount of loans [Line Items] | |
Beginning balance | 326,739,000,000 |
Changes in gross carrying amount of loans [Abstract] | |
Transfer to 12-month expected credit losses | (9,439,000,000) |
Transfer to lifetime expected credit losses | (13,487,000,000) |
Transfer to credit-impaired financial assets | 346,390,000,000 |
Charge off | (204,552,000,000) |
Disposal | (31,910,000,000) |
Net increase (decrease) | (22,247,000,000) |
Ending balance | 391,494,000,000 |
Corporates | Stage 1 | |
Reconciliation of changes in gross carrying amount of loans [Line Items] | |
Beginning balance | 131,096,396,000,000 |
Changes in gross carrying amount of loans [Abstract] | |
Transfer to 12-month expected credit losses | 1,081,702,000,000 |
Transfer to lifetime expected credit losses | (2,275,984,000,000) |
Transfer to credit-impaired financial assets | (348,503,000,000) |
Charge off | 0 |
Disposal | 0 |
Net increase (decrease) | 1,900,116,000,000 |
Ending balance | 131,453,727,000,000 |
Corporates | Stage 2 | |
Reconciliation of changes in gross carrying amount of loans [Line Items] | |
Beginning balance | 4,466,354,000,000 |
Changes in gross carrying amount of loans [Abstract] | |
Transfer to 12-month expected credit losses | (1,077,895,000,000) |
Transfer to lifetime expected credit losses | 2,733,860,000,000 |
Transfer to credit-impaired financial assets | (275,189,000,000) |
Charge off | 0 |
Disposal | (2,781,000,000) |
Net increase (decrease) | (813,091,000,000) |
Ending balance | 5,031,258,000,000 |
Corporates | Stage 3 | |
Reconciliation of changes in gross carrying amount of loans [Line Items] | |
Beginning balance | 1,622,409,000,000 |
Changes in gross carrying amount of loans [Abstract] | |
Transfer to 12-month expected credit losses | (3,807,000,000) |
Transfer to lifetime expected credit losses | (457,876,000,000) |
Transfer to credit-impaired financial assets | 623,692,000,000 |
Charge off | (290,109,000,000) |
Disposal | (166,347,000,000) |
Net increase (decrease) | (307,304,000,000) |
Ending balance | 1,020,658,000,000 |
Credit card | Stage 1 | |
Reconciliation of changes in gross carrying amount of loans [Line Items] | |
Beginning balance | 5,721,743,000,000 |
Changes in gross carrying amount of loans [Abstract] | |
Transfer to 12-month expected credit losses | 221,984,000,000 |
Transfer to lifetime expected credit losses | (287,623,000,000) |
Transfer to credit-impaired financial assets | (104,459,000,000) |
Charge off | 0 |
Disposal | 0 |
Net increase (decrease) | 1,310,199,000,000 |
Ending balance | 6,861,844,000,000 |
Credit card | Stage 2 | |
Reconciliation of changes in gross carrying amount of loans [Line Items] | |
Beginning balance | 935,266,000,000 |
Changes in gross carrying amount of loans [Abstract] | |
Transfer to 12-month expected credit losses | (221,841,000,000) |
Transfer to lifetime expected credit losses | 288,027,000,000 |
Transfer to credit-impaired financial assets | (95,758,000,000) |
Charge off | 0 |
Disposal | 0 |
Net increase (decrease) | 77,078,000,000 |
Ending balance | 982,772,000,000 |
Credit card | Stage 3 | |
Reconciliation of changes in gross carrying amount of loans [Line Items] | |
Beginning balance | 177,983,000,000 |
Changes in gross carrying amount of loans [Abstract] | |
Transfer to 12-month expected credit losses | (143,000,000) |
Transfer to lifetime expected credit losses | (404,000,000) |
Transfer to credit-impaired financial assets | 200,217,000,000 |
Charge off | (242,879,000,000) |
Disposal | 0 |
Net increase (decrease) | 74,215,000,000 |
Ending balance | ₩ 208,989,000,000 |
Loans and other financial as_11
Loans and other financial assets at amortized cost, and loans and receivables_Details of other financial assests other receivables (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of other financial assets [Line Items] | ||
Other receivables | ₩ 7,486,649 | ₩ 6,714,525 |
Loss allowance | ||
Disclosure of other financial assets [Line Items] | ||
Other receivables | (67,941) | (57,563) |
CMA accounts | Gross carrying amount [Member] | ||
Disclosure of other financial assets [Line Items] | ||
Other receivables | 185,999 | 135,000 |
Receivables | Gross carrying amount [Member] | ||
Disclosure of other financial assets [Line Items] | ||
Other receivables | 4,864,738 | 4,459,318 |
Accrued income | Gross carrying amount [Member] | ||
Disclosure of other financial assets [Line Items] | ||
Other receivables | 1,002,964 | 1,026,273 |
Telex and telephone subscription rights and refundable deposits | Gross carrying amount [Member] | ||
Disclosure of other financial assets [Line Items] | ||
Other receivables | 986,834 | 984,620 |
Other receivables | Gross carrying amount [Member] | ||
Disclosure of other financial assets [Line Items] | ||
Other receivables | ₩ 514,055 | ₩ 166,877 |
Loans and other financial as_12
Loans and other financial assets at amortized cost, and loans and receivables_Changes in loss allowance on other financial assets (Details) | 12 Months Ended | |
Dec. 31, 2018KRW (₩) | ||
Reconciliation of changes in allowance account for credit losses of other receivables [Line Items] | ||
Beginning balance | ₩ (58,998,000,000) | [1] |
Changes in allowance account for credit losses of other receivables [Abstract] | ||
Transfer to 12-month expected credit losses | 0 | |
Transfer to lifetime expected credit losses | 0 | |
Transfer to credit-impaired financial assets | 0 | |
Net provision of loss allowance | (38,299,000,000) | |
Charge off | 28,200,000,000 | |
Disposal | 1,265,000,000 | |
Others | (109,000,000) | [2] |
Ending balance | (67,941,000,000) | |
Stage 1 | ||
Reconciliation of changes in allowance account for credit losses of other receivables [Line Items] | ||
Beginning balance | (2,955,000,000) | [1] |
Changes in allowance account for credit losses of other receivables [Abstract] | ||
Transfer to 12-month expected credit losses | (150,000,000) | |
Transfer to lifetime expected credit losses | 105,000,000 | |
Transfer to credit-impaired financial assets | 6,509,000,000 | |
Net provision of loss allowance | (6,583,000,000) | |
Charge off | 0 | |
Disposal | 0 | |
Others | (395,000,000) | [2] |
Ending balance | (3,469,000,000) | |
Stage 2 | ||
Reconciliation of changes in allowance account for credit losses of other receivables [Line Items] | ||
Beginning balance | (1,832,000,000) | [1] |
Changes in allowance account for credit losses of other receivables [Abstract] | ||
Transfer to 12-month expected credit losses | 139,000,000 | |
Transfer to lifetime expected credit losses | (416,000,000) | |
Transfer to credit-impaired financial assets | 304,000,000 | |
Net provision of loss allowance | (166,000,000) | |
Charge off | 0 | |
Disposal | 1,000,000 | |
Others | (1,000,000) | [2] |
Ending balance | (1,971,000,000) | |
Stage 3 | ||
Reconciliation of changes in allowance account for credit losses of other receivables [Line Items] | ||
Beginning balance | (54,211,000,000) | [1] |
Changes in allowance account for credit losses of other receivables [Abstract] | ||
Transfer to 12-month expected credit losses | 11,000,000 | |
Transfer to lifetime expected credit losses | 311,000,000 | |
Transfer to credit-impaired financial assets | (6,813,000,000) | |
Net provision of loss allowance | (31,550,000,000) | |
Charge off | 28,200,000,000 | |
Disposal | 1,264,000,000 | |
Others | 287,000,000 | [2] |
Ending balance | ₩ (62,501,000,000) | |
[1] | The beginning balance was restated in accordance with IFRS 9. | |
[2] | Others consist of foreign currencies translation, etc. |
Loans and other financial as_13
Loans and other financial assets at amortized cost, and loans and receivables_Changes in gross carrying amount of other financial assets (Details) | 12 Months Ended |
Dec. 31, 2018KRW (₩) | |
Reconciliation of changes in gross carrying amount of other receivables [Line Items] | |
Beginning balance | ₩ 6,771,371,000,000 |
Changes in gross carrying amount of other receivables [Abstract] | |
Transfer to 12-month expected credit losses | 0 |
Transfer to lifetime expected credit losses | 0 |
Transfer to credit-impaired financial assets | 0 |
Charge off | (28,201,000,000) |
Disposal | (1,645,000,000) |
Net increase and others | 813,065,000,000 |
Ending balance | 7,554,590,000,000 |
Stage 1 | |
Reconciliation of changes in gross carrying amount of other receivables [Line Items] | |
Beginning balance | 6,662,335,000,000 |
Changes in gross carrying amount of other receivables [Abstract] | |
Transfer to 12-month expected credit losses | 7,573,000,000 |
Transfer to lifetime expected credit losses | (11,418,000,000) |
Transfer to credit-impaired financial assets | (7,580,000,000) |
Charge off | 0 |
Disposal | 0 |
Net increase and others | 803,480,000,000 |
Ending balance | 7,454,390,000,000 |
Stage 2 | |
Reconciliation of changes in gross carrying amount of other receivables [Line Items] | |
Beginning balance | 29,124,000,000 |
Changes in gross carrying amount of other receivables [Abstract] | |
Transfer to 12-month expected credit losses | (7,556,000,000) |
Transfer to lifetime expected credit losses | 11,734,000,000 |
Transfer to credit-impaired financial assets | (1,110,000,000) |
Charge off | 0 |
Disposal | (5,000,000) |
Net increase and others | (3,994,000,000) |
Ending balance | 28,193,000,000 |
Stage 3 | |
Reconciliation of changes in gross carrying amount of other receivables [Line Items] | |
Beginning balance | 79,912,000,000 |
Changes in gross carrying amount of other receivables [Abstract] | |
Transfer to 12-month expected credit losses | (17,000,000) |
Transfer to lifetime expected credit losses | (316,000,000) |
Transfer to credit-impaired financial assets | 8,690,000,000 |
Charge off | (28,201,000,000) |
Disposal | (1,640,000,000) |
Net increase and others | 13,579,000,000 |
Ending balance | ₩ 72,007,000,000 |
Fair value of financial asset_3
Fair value of financial assets and liabilities_Fair value hierarchy of financial assets and liabilities measured at fair value (Details) | 12 Months Ended | |||
Dec. 31, 2018KRW (₩) | Dec. 31, 2017KRW (₩) | Dec. 31, 2018USD ($) | ||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Description of level of fair value hierarchy within which fair value measurement is categorised | The fair value measurement is described in the one of the following three levels used to classify fair value measurements: -Level 1-fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities. The types of financial assets or liabilities generally included in Level 1 are publicly traded equity securities, derivatives, and debt securities issued by governmental bodies. -Level 2-fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. prices) or indirectly (i.e. derived from prices). The types of financial assets or liabilities generally included in Level 2 are debt securities not traded in active markets and derivatives traded in OTC but not required significant judgment. -Level 3-fair value measurements are those derived from valuation technique that include inputs for the assets or liabilities that are not based on observable market data (unobservable inputs). The types of financial assets or liabilities generally included in Level 3 are non-public securities and derivatives and debt securities of which valuation techniques require significant judgments and subjectivity. | The fair value measurement is described in the one of the following three levels used to classify fair value measurements: -Level 1-fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities. The types of financial assets or liabilities generally included in Level 1 are publicly traded equity securities, derivatives, and debt securities issued by governmental bodies. -Level 2-fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. prices) or indirectly (i.e. derived from prices). The types of financial assets or liabilities generally included in Level 2 are debt securities not traded in active markets and derivatives traded in OTC but not required significant judgment. -Level 3-fair value measurements are those derived from valuation technique that include inputs for the assets or liabilities that are not based on observable market data (unobservable inputs). The types of financial assets or liabilities generally included in Level 3 are non-public securities and derivatives and debt securities of which valuation techniques require significant judgments and subjectivity. | ||
Financial assets held for trading (IAS 39) | ₩ 5,820,787,000,000 | |||
Financial assets designated at FVTPL (IAS 39) | 22,290,000,000 | |||
AFS financial assets | [1] | ₩ 0 | 15,352,950,000,000 | $ 0 |
Financial assets at fair value through profit or loss mandatorily measured at fair value | [1] | 6,126,316,000,000 | 0 | 5,504,822,000 |
Financial assets at FVTOCI | [1] | 18,063,423,000,000 | 0 | 16,230,949,000 |
Derivative financial assets | 35,503,000,000 | 59,272,000,000 | 31,901,000 | |
Total | 24,225,242,000,000 | 21,255,299,000,000 | ||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Financial liabilities at fair value through profit or loss mandatorily measured at fair value | 2,117,919,000,000 | 0 | ||
Carrying amount | 164,767,000,000 | 0 | ||
Financial liabilities at FVTPL | [1] | 2,282,686,000,000 | 0 | 2,051,115,000 |
Financial liabilities held for trading | 3,176,113,000,000 | |||
Carrying amount Financial liabilities designated as at FVTPL (IAS39) | 251,796,000,000 | |||
Derivative financial liabilities | 51,408,000,000 | 67,754,000,000 | $ 46,193,000 | |
Total | ₩ 2,334,094,000,000 | ₩ 3,495,663,000,000 | ||
Description of valuation processes used in fair value measurement assets | Financial assets and liabilities at fair value through profit or loss mandatorily measured at fair value, financial liabilities at fair value through profit or loss designated as upon initial recognition, financial assets at FVTOCI, and derivative assets (Designated for hedging) and liabilities (Designated for hedging) are recognized at fair value. Fair value is the amount that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. Financial instruments are measured at fair value using a quoted market price in active markets. If there is no active market for a financial instrument, the Group determines the fair value using valuation methods. | Financial assets and liabilities at fair value through profit or loss mandatorily measured at fair value, financial liabilities at fair value through profit or loss designated as upon initial recognition, financial assets at FVTOCI, and derivative assets (Designated for hedging) and liabilities (Designated for hedging) are recognized at fair value. Fair value is the amount that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. Financial instruments are measured at fair value using a quoted market price in active markets. If there is no active market for a financial instrument, the Group determines the fair value using valuation methods. | ||
Description of valuation processes used in fair value measurement liabilities | Financial assets and liabilities at fair value through profit or loss mandatorily measured at fair value, financial liabilities at fair value through profit or loss designated as upon initial recognition, financial assets at FVTOCI, and derivative assets (Designated for hedging) and liabilities (Designated for hedging) are recognized at fair value. Fair value is the amount that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. Financial instruments are measured at fair value using a quoted market price in active markets. If there is no active market for a financial instrument, the Group determines the fair value using valuation methods. | Financial assets and liabilities at fair value through profit or loss mandatorily measured at fair value, financial liabilities at fair value through profit or loss designated as upon initial recognition, financial assets at FVTOCI, and derivative assets (Designated for hedging) and liabilities (Designated for hedging) are recognized at fair value. Fair value is the amount that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. Financial instruments are measured at fair value using a quoted market price in active markets. If there is no active market for a financial instrument, the Group determines the fair value using valuation methods. | ||
Financial assets | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Total | ₩ 2,656,617,000,000 | ₩ 3,633,765,000,000 | ||
Financial assets | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Total | 19,183,368,000,000 | 15,921,992,000,000 | ||
Financial assets | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Total | 2,385,257,000,000 | 1,699,542,000,000 | ||
Financial assets held for trading | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets held for trading (IAS 39) | 454,601,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Financial assets held for trading | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets held for trading (IAS 39) | ₩ 5,344,704,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Financial assets held for trading | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets held for trading (IAS 39) | ₩ 21,482,000,000 | |||
Deposits | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets held for trading (IAS 39) | 25,972,000,000 | |||
Deposits | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets held for trading (IAS 39) | 25,972,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Deposits | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets held for trading (IAS 39) | ₩ 0 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Deposits | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets held for trading (IAS 39) | ₩ 0 | |||
Debt securities | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets held for trading (IAS 39) | ₩ 2,644,333,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Fair value measurement methods | The fair value is measured by discounting the projected cash flows of debt securities by applying the market discount rate that has been applied to a proxy company that has similar credit rating to the issuers of the securities. | |||
Input variables | Risk-free market rate, credit spread | |||
Debt securities | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets held for trading (IAS 39) | ₩ 405,942,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Debt securities | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets held for trading (IAS 39) | ₩ 2,238,391,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Debt securities | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets held for trading (IAS 39) | ₩ 0 | |||
Equity securities | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets held for trading (IAS 39) | ₩ 21,666,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Fair value measurement methods | Among DCF (Discounted Cash Flow) Model, FCFE (Free Cash Flow to Equity) Model, Comparable Company Analysis, Dividend Discount Model, Risk-adjusted Rate of Return Method, and Net Asset Value Method, more than one method is used given the characteristic of the subject of fair value measurement. | |||
Input variables | Risk-free market rate, market risk premium, Beta, etc. | |||
Equity securities | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets held for trading (IAS 39) | ₩ 21,666,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Equity securities | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets held for trading (IAS 39) | ₩ 0 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Equity securities | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets held for trading (IAS 39) | ₩ 0 | |||
Beneficiary certificates | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets held for trading (IAS 39) | ₩ 13,041,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Fair value measurement methods | Among DCF (Discounted Cash Flow) Model, FCFE (Free Cash Flow to Equity) Model, Comparable Company Analysis, Dividend Discount Model, Risk-adjusted Rate of Return Method, and Net Asset Value Method, more than one method is used given the characteristic of the subject of fair value measurement. | |||
Input variables | Risk-free market rate, market risk premium, Beta, etc. | |||
Beneficiary certificates | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets held for trading (IAS 39) | ₩ 0 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Beneficiary certificates | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets held for trading (IAS 39) | ₩ 13,041,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Beneficiary certificates | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets held for trading (IAS 39) | ₩ 0 | |||
Derivative assets | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets held for trading (IAS 39) | ₩ 3,115,775,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Fair value measurement methods | The in-house developed model which is based on the models that are used by market participants in the valuation of general OTC derivative products, such as options, interest rate swaps, currency swap and currency forward that are based on inputs observable in the market. However, for some complicated financial instruments of which valuation should be based on some assumptions since some significant or all inputs to be used in the model are not observable in the market, the in-house derived model which is developed from the general valuation models, such as Finite Difference Method ("FDM") or Monte Carlo Simulation. | |||
Input variables | Risk-free market rate, forward rate, volatility, foreign exchange rate, stock prices, etc. | |||
Derivative assets | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets held for trading (IAS 39) | ₩ 1,021,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Derivative assets | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets held for trading (IAS 39) | ₩ 3,093,272,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Derivative assets | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets held for trading (IAS 39) | ₩ 21,482,000,000 | |||
Financial assets designated as at FVTPL | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets designated at FVTPL (IAS 39) | 0 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Financial assets designated as at FVTPL | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets designated at FVTPL (IAS 39) | ₩ 0 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Financial assets designated as at FVTPL | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets designated at FVTPL (IAS 39) | ₩ 22,290,000,000 | |||
Debt securities | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets designated at FVTPL (IAS 39) | ₩ 9,694,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Fair value measurement methods | The fair value is measured by discounting the projected cash flows of debt securities by applying the market discount rate that has been applied to a proxy company that has similar credit rating to the issuers of the securities. | |||
Input variables | Risk-free market rate, credit spread | |||
Debt securities | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets designated at FVTPL (IAS 39) | ₩ 0 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Debt securities | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets designated at FVTPL (IAS 39) | ₩ 0 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Debt securities | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets designated at FVTPL (IAS 39) | ₩ 9,694,000,000 | |||
Equity securities | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets designated at FVTPL (IAS 39) | ₩ 12,596,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Fair value measurement methods | Among DCF (Discounted Cash Flow) Model, FCFE (Free Cash Flow to Equity) Model, Comparable Company Analysis, Dividend Discount Model, Risk-adjusted Rate of Return Method, and Net Asset Value Method, more than one method is used given the characteristic of the subject of fair value measurement. | |||
Input variables | Risk-free market rate, market risk premium, Beta, etc. | |||
Equity securities | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets designated at FVTPL (IAS 39) | ₩ 0 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Equity securities | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets designated at FVTPL (IAS 39) | ₩ 0 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Equity securities | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets designated at FVTPL (IAS 39) | ₩ 12,596,000,000 | |||
AFS financial assets | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
AFS financial assets | 3,179,164,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
AFS financial assets | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
AFS financial assets | ₩ 10,518,016,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
AFS financial assets | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
AFS financial assets | ₩ 1,655,770,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Description of financial instruments measured at cost | [3] | Certain unquoted AFS equity securities were measured at cost as of December 31, 2017, that amounted to 37,092 million Won. These unquoted equity instruments mostly represent minority investments in structured entity vehicles, such as asset securitization structures. They are measured at cost because (a) observable inputs of financial information to measure fair value were not available to obtain, (b) there was a significant variance in likely estimated cash flows or (c) the probabilities for various estimated cash flows could not be measured reliably. In addition, the Group has no intention to dispose these investments in the foreseeable future. | ||
Equity securities of financial assets available-for-sale measured at cost | [3] | ₩ 37,092,000,000 | ||
Debt securities | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
AFS financial assets | ₩ 13,058,988,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Fair value measurement methods | The fair value is measured by discounting the projected cash flows of debt securities by applying the market discount rate that has been applied to a proxy company that has similar credit rating to the issuers of the securities. | |||
Input variables | Risk-free market rate, credit spread | |||
Debt securities | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
AFS financial assets | ₩ 2,710,172,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Debt securities | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
AFS financial assets | ₩ 10,348,816,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Debt securities | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
AFS financial assets | ₩ 0 | |||
Equity securities | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
AFS financial assets | ₩ 1,411,078,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Fair value measurement methods | Among DCF (Discounted Cash Flow) Model, FCFE (Free Cash Flow to Equity) Model, Comparable Company Analysis, Dividend Discount Model, Risk-adjusted Rate of Return Method, and Net Asset Value Method, more than one method is used given the characteristic of the subject of fair value measurement. | |||
Input variables | Risk-free market rate, market risk premium, Beta, etc. | |||
Equity securities | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
AFS financial assets | ₩ 399,214,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Equity securities | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
AFS financial assets | ₩ 0 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Equity securities | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
AFS financial assets | ₩ 1,011,864,000,000 | |||
Beneficiary certificates | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
AFS financial assets | ₩ 712,628,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Fair value measurement methods | Among DCF (Discounted Cash Flow) Model, FCFE (Free Cash Flow to Equity) Model, Comparable Company Analysis, Dividend Discount Model, Risk-adjusted Rate of Return Method, and Net Asset Value Method, more than one method is used given the characteristic of the subject of fair value measurement. | |||
Input variables | Risk-free market rate, market risk premium, Beta, etc. | |||
Beneficiary certificates | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
AFS financial assets | ₩ 0 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Beneficiary certificates | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
AFS financial assets | ₩ 68,722,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | ₩ 0 | |||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Beneficiary certificates | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
AFS financial assets | ₩ 643,906,000,000 | |||
Securities loaned | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
AFS financial assets | 170,256,000,000 | |||
Securities loaned | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
AFS financial assets | 69,778,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Securities loaned | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
AFS financial assets | ₩ 100,478,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Securities loaned | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
AFS financial assets | ₩ 0 | |||
Financial assets at FVTPL (IFRS 9) | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | 335,881,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ₩ 0 | |
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | |
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ₩ 0 | |
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | |
Financial assets at FVTPL (IFRS 9) | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 3,874,025,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ₩ 0 | |
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | |
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ₩ 0 | |
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | |
Financial assets at FVTPL (IFRS 9) | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 1,916,410,000,000 | |||
Deposits | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | 26,935,000,000 | |||
Deposits | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | 26,935,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Deposits | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 0 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Deposits | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 0 | |||
Debt securities | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 1,824,155,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Fair value measurement methods | The fair value is measured by discounting the projected cash flows of debt securities by applying the market discount rate that has been applied to a proxy company that has similar credit rating to the issuers of the securities. | |||
Input variables | Risk-free market rate, credit spread | |||
Debt securities | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 239,794,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Debt securities | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 1,575,972,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Debt securities | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 8,389,000,000 | |||
Equity securities | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 455,666,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Fair value measurement methods | Among DCF (Discounted Cash Flow) Model, FCFE (Free Cash Flow to Equity) Model, Comparable Company Analysis, Dividend Discount Model, Risk-adjusted Rate of Return Method, and Net Asset Value Method, more than one method is used given the characteristic of the subject of fair value measurement. | |||
Input variables | Risk-free market rate, market risk premium, Beta, etc. | |||
Equity securities | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 53,806,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Equity securities | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 0 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Equity securities | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 401,860,000,000 | |||
Capital contributions | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 422,614,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Fair value measurement methods | Among DCF (Discounted Cash Flow) Model, FCFE (Free Cash Flow to Equity) Model, Comparable Company Analysis, Dividend Discount Model, Risk-adjusted Rate of Return Method, and Net Asset Value Method, more than one method is used given the characteristic of the subject of fair value measurement. | |||
Input variables | Risk-free market rate, market risk premium, Beta, etc. | |||
Capital contributions | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 0 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Capital contributions | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 0 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Capital contributions | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 422,614,000,000 | |||
Beneficiary certificates | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 985,417,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Fair value measurement methods | Among DCF (Discounted Cash Flow) Model, FCFE (Free Cash Flow to Equity) Model, Comparable Company Analysis, Dividend Discount Model, Risk-adjusted Rate of Return Method, and Net Asset Value Method, more than one method is used given the characteristic of the subject of fair value measurement. | |||
Input variables | Risk-free market rate, market risk premium, Beta, etc. | |||
Beneficiary certificates | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 2,130,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Beneficiary certificates | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 128,988,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Beneficiary certificates | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 854,299,000,000 | |||
Loans | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 385,450,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Fair value measurement methods | The fair value of Loans is measured by the Binomial tree given the values of underlying assets and volatility. | |||
Input variables | Values of underlying assets, Volatility | |||
Loans | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 0 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Loans | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 205,000,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Loans | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 180,450,000,000 | |||
Derivative assets | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 2,026,079,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Fair value measurement methods | The in-house developed model which is based on the models that are used by market participants in the valuation of general OTC derivative products, such as options, interest rate swaps, currency swap and currency forward that are based on inputs observable in the market. However, for some complicated financial instruments of which valuation should be based on some assumptions since some significant or all inputs to be used in the model are not observable in the market, the in-house derived model which is developed from the general valuation models, such as Finite Difference Method ("FDM") or Monte Carlo Simulation. | |||
Input variables | Risk-free market rate, forward rate, volatility, foreign exchange rate, stock prices, etc. | |||
Derivative assets | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 13,216,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Derivative assets | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 1,964,065,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Derivative assets | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | ₩ 48,798,000,000 | |||
Financial assets at FVTOCI | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at FVTOCI | 2,320,736,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Financial assets at FVTOCI | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at FVTOCI | ₩ 15,273,840,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Financial assets at FVTOCI | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at FVTOCI | ₩ 468,847,000,000 | |||
Debt securities | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at FVTOCI | ₩ 17,072,220,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Fair value measurement methods | The fair value is measured by discounting the projected cash flows of debt securities by applying the market discount rate that has been applied to a proxy company that has similar credit rating to the issuers of the securities. | |||
Input variables | Risk-free market rate, credit spread | |||
Debt securities | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at FVTOCI | ₩ 1,838,409,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Debt securities | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at FVTOCI | ₩ 15,233,811,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Debt securities | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at FVTOCI | ₩ 0 | |||
Equity securities | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at FVTOCI | ₩ 951,174,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Fair value measurement methods | Among DCF (Discounted Cash Flow) Model, FCFE (Free Cash Flow to Equity) Model, Comparable Company Analysis, Dividend Discount Model, Risk-adjusted Rate of Return Method, and Net Asset Value Method, more than one method is used given the characteristic of the subject of fair value measurement. | |||
Input variables | Risk-free market rate, market risk premium, Beta, etc. | |||
Equity securities | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at FVTOCI | ₩ 482,327,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Equity securities | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at FVTOCI | ₩ 0 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Equity securities | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at FVTOCI | ₩ 468,847,000,000 | |||
Loaned securities | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at FVTOCI | 40,029,000,000 | |||
Loaned securities | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at FVTOCI | 0 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Loaned securities | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at FVTOCI | ₩ 40,029,000,000 | |||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Loaned securities | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at FVTOCI | ₩ 0 | |||
Derivative assets (Designated for hedging) | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Fair value measurement methods | The in-house developed model which is based on the models that are used by market participants in the valuation of general OTC derivative products, such as options, interest rate swaps, currency swap and currency forward that are based on inputs observable in the market. However, for some complicated financial instruments of which valuation should be based on some assumptions since some significant or all inputs to be used in the model are not observable in the market, the in-house derived model which is developed from the general valuation models, such as Finite Difference Method ("FDM") or Monte Carlo Simulation. | The in-house developed model which is based on the models that are used by market participants in the valuation of general OTC derivative products, such as options, interest rate swaps, currency swap and currency forward that are based on inputs observable in the market. However, for some complicated financial instruments of which valuation should be based on some assumptions since some significant or all inputs to be used in the model are not observable in the market, the in-house derived model which is developed from the general valuation models, such as Finite Difference Method ("FDM") or Monte Carlo Simulation. | ||
Input variables | Risk-free market rate, forward rate, volatility, foreign exchange rate, stock prices, etc. | Risk-free market rate, forward rate, volatility, foreign exchange rate, stock prices, etc. | ||
Derivative assets (Designated for hedging) | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Derivative financial assets | ₩ 0 | ₩ 0 | ||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ₩ 0 | |
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | |
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ₩ 0 | |
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | |
Derivative assets (Designated for hedging) | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Derivative financial assets | ₩ 35,503,000,000 | ₩ 59,272,000,000 | ||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Transfers out of level1 into level2 of fair value hierarchy assets | [2] | ₩ 0 | ₩ 0 | |
Description of reasons for transfers out of level1 into level2 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | |
Transfers out of level2 into level1 of fair value hierarchy assets | [2] | ₩ 0 | ₩ 0 | |
Description of reasons for transfers out of level2 into level1 of fair value hierarchy assets | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | |
Derivative assets (Designated for hedging) | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Derivative financial assets | ₩ 0 | ₩ 0 | ||
Financial liabilities | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Description of level of fair value hierarchy within which fair value measurement is categorised | Level 1-fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities. The types of financial assets or liabilities generally included in Level 1 are publicly traded equity securities, derivatives, and debt securities issued by governmental bodies. | Level 1-fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities. The types of financial assets or liabilities generally included in Level 1 are publicly traded equity securities, derivatives, and debt securities issued by governmental bodies. | ||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Total | ₩ 29,303,000,000 | ₩ 28,577,000,000 | ||
Transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | ₩ 0 | ₩ 0 | |
Description of reasons for transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | |
Transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | ₩ 0 | ₩ 0 | |
Description of reasons for transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | |
Financial liabilities | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Description of level of fair value hierarchy within which fair value measurement is categorised | Level 2- fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. prices) or indirectly (i.e. derived from prices). The types of financial assets or liabilities generally included in Level 2 are debt securities not traded in active markets and derivatives traded in OTC but not required significant judgment. | Level 2- fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. prices) or indirectly (i.e. derived from prices). The types of financial assets or liabilities generally included in Level 2 are debt securities not traded in active markets and derivatives traded in OTC but not required significant judgment. | ||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Total | ₩ 2,123,333,000,000 | ₩ 3,286,078,000,000 | ||
Transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | ₩ 0 | ₩ 0 | |
Description of reasons for transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | |
Transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | ₩ 0 | ₩ 0 | |
Description of reasons for transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | |
Financial liabilities | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Description of level of fair value hierarchy within which fair value measurement is categorised | Level 3- fair value measurements are those derived from valuation technique that include inputs for the assets or liabilities that are not based on observable market data (unobservable inputs). The types of financial assets or liabilities generally included in Level 3 are non-public securities and derivatives and debt securities of which valuation techniques require significant judgments and subjectivity. | Level 3- fair value measurements are those derived from valuation technique that include inputs for the assets or liabilities that are not based on observable market data (unobservable inputs). The types of financial assets or liabilities generally included in Level 3 are non-public securities and derivatives and debt securities of which valuation techniques require significant judgments and subjectivity. | ||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Total | ₩ 181,458,000,000 | ₩ 181,008,000,000 | ||
Financial liabilities held for trading | Level 1 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Financial liabilities held for trading | 28,577,000,000 | |||
Transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Financial liabilities held for trading | Level 2 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Financial liabilities held for trading | ₩ 3,126,585,000,000 | |||
Transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Financial liabilities held for trading | Level 3 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Financial liabilities held for trading | ₩ 20,951,000,000 | |||
Deposits due to customers | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Financial liabilities held for trading | 25,964,000,000 | |||
Deposits due to customers | Level 1 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Financial liabilities held for trading | 25,964,000,000 | |||
Transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Deposits due to customers | Level 2 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Financial liabilities held for trading | ₩ 0 | |||
Transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Deposits due to customers | Level 3 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Financial liabilities held for trading | ₩ 0 | |||
Derivative liabilities | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Financial liabilities held for trading | ₩ 3,150,149,000,000 | |||
Fair value measurement methods | The in-house developed model which is based on the models that are used by market participants in the valuation of general OTC derivative products, such as options, interest rate swaps, currency swap and currency forward that are based on inputs observable in the market. However, for some complicated financial instruments of which valuation should be based on some assumptions since some significant or all inputs to be used in the model are not observable in the market, the in-house derived model which is developed from the general valuation models, such as Finite Difference Method ("FDM") or Monte Carlo Simulation. | |||
Input variables | Risk-free market rate, forward rate, volatility, foreign exchange rate, stock prices, etc. | |||
Derivative liabilities | Level 1 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Financial liabilities held for trading | ₩ 2,613,000,000 | |||
Transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Derivative liabilities | Level 2 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Financial liabilities held for trading | ₩ 3,126,585,000,000 | |||
Transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Derivative liabilities | Level 3 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Financial liabilities held for trading | ₩ 20,951,000,000 | |||
Financial liabilities designated at FVTPL | Level 1 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Carrying amount Financial liabilities designated as at FVTPL (IAS39) | 0 | |||
Transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Financial liabilities designated at FVTPL | Level 2 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Carrying amount Financial liabilities designated as at FVTPL (IAS39) | ₩ 91,739,000,000 | |||
Transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Financial liabilities designated at FVTPL | Level 3 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Carrying amount Financial liabilities designated as at FVTPL (IAS39) | ₩ 160,057,000,000 | |||
Equity linked securities | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Carrying amount Financial liabilities designated as at FVTPL (IAS39) | ₩ 160,057,000,000 | |||
Fair value measurement methods | The fair value of security linked to stock prices or derivatives is measured by the models such as DCF model, FDM, or Monte Carlo Simulation given the natures of the securities or underlying assets. | |||
Input variables | Values of underlying assets, risk-free market rate, market rate, dividend and convenience yield, volatility, correlation coefficient, credit spread, and foreign exchange rate | |||
Equity linked securities | Level 1 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Carrying amount Financial liabilities designated as at FVTPL (IAS39) | ₩ 0 | |||
Transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Equity linked securities | Level 2 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Carrying amount Financial liabilities designated as at FVTPL (IAS39) | ₩ 0 | |||
Transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Equity linked securities | Level 3 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Carrying amount Financial liabilities designated as at FVTPL (IAS39) | ₩ 160,057,000,000 | |||
Debentures | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Carrying amount Financial liabilities designated as at FVTPL (IAS39) | ₩ 91,739,000,000 | |||
Fair value measurement methods | The fair value is measured by discounting the projected cash flows of a debenture by applying the market discount rate that is reflecting credit rating of the Group. | |||
Input variables | Risk-free market rate, forward rate | |||
Debentures | Level 1 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Carrying amount Financial liabilities designated as at FVTPL (IAS39) | ₩ 0 | |||
Transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Debentures | Level 2 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Carrying amount Financial liabilities designated as at FVTPL (IAS39) | ₩ 91,739,000,000 | |||
Transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Debentures | Level 3 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Carrying amount Financial liabilities designated as at FVTPL (IAS39) | ₩ 0 | |||
Financial liabilities at fair value through profit or loss mandatorily measured at fair value | Level 1 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Financial liabilities at fair value through profit or loss mandatorily measured at fair value | 29,303,000,000 | |||
Transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Financial liabilities at fair value through profit or loss mandatorily measured at fair value | Level 2 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Financial liabilities at fair value through profit or loss mandatorily measured at fair value | ₩ 2,071,925,000,000 | |||
Transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Financial liabilities at fair value through profit or loss mandatorily measured at fair value | Level 3 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Financial liabilities at fair value through profit or loss mandatorily measured at fair value | ₩ 16,691,000,000 | |||
Deposits | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Financial liabilities at fair value through profit or loss mandatorily measured at fair value | 27,058,000,000 | |||
Deposits | Level 1 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Financial liabilities at fair value through profit or loss mandatorily measured at fair value | 27,058,000,000 | |||
Transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Deposits | Level 2 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Financial liabilities at fair value through profit or loss mandatorily measured at fair value | ₩ 0 | |||
Transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Deposits | Level 3 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Financial liabilities at fair value through profit or loss mandatorily measured at fair value | ₩ 0 | |||
Derivative liabilities | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Financial liabilities at fair value through profit or loss mandatorily measured at fair value | ₩ 2,090,861,000,000 | |||
Fair value measurement methods | The in-house developed model which is based on the models that are used by market participants in the valuation of general OTC derivative products, such as options, interest rate swaps, currency swap and currency forward that are based on inputs observable in the market. However, for some complicated financial instruments of which valuation should be based on some assumptions since some significant or all inputs to be used in the model are not observable in the market, the in-house derived model which is developed from the general valuation models, such as Finite Difference Method ("FDM") or Monte Carlo Simulation. | |||
Input variables | Risk-free market rate, forward rate, volatility, foreign exchange rate, stock prices, etc. | |||
Derivative liabilities | Level 1 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Financial liabilities at fair value through profit or loss mandatorily measured at fair value | ₩ 2,245,000,000 | |||
Transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Derivative liabilities | Level 2 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Financial liabilities at fair value through profit or loss mandatorily measured at fair value | ₩ 2,071,925,000,000 | |||
Transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Derivative liabilities | Level 3 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Financial liabilities at fair value through profit or loss mandatorily measured at fair value | ₩ 16,691,000,000 | |||
Equity-linked securities | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Fair value measurement methods | The fair value of security linked to stock prices or derivatives is measured by the models such as DCF model, FDM, or Monte Carlo Simulation given the natures of the securities or underlying assets. | |||
Input variables | Values of underlying assets, risk-free market rate, market rate, dividend and convenience yield, volatility, correlation coefficient, credit spread, and foreign exchange rate | |||
Equity-linked securities | Level 1 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Carrying amount | ₩ 0 | |||
Transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Equity-linked securities | Level 2 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Carrying amount | ₩ 0 | |||
Transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | ₩ 0 | ||
Description of reasons for transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||
Equity-linked securities | Level 3 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Carrying amount | ₩ 164,767,000,000 | |||
Derivative liabilities (Designated for hedging) | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Fair value measurement methods | The in-house developed model which is based on the models that are used by market participants in the valuation of general OTC derivative products, such as options, interest rate swaps, currency swap and currency forward that are based on inputs observable in the market. However, for some complicated financial instruments of which valuation should be based on some assumptions since some significant or all inputs to be used in the model are not observable in the market, the in-house derived model which is developed from the general valuation models, such as Finite Difference Method ("FDM") or Monte Carlo Simulation. | The in-house developed model which is based on the models that are used by market participants in the valuation of general OTC derivative products, such as options, interest rate swaps, currency swap and currency forward that are based on inputs observable in the market. However, for some complicated financial instruments of which valuation should be based on some assumptions since some significant or all inputs to be used in the model are not observable in the market, the in-house derived model which is developed from the general valuation models, such as Finite Difference Method ("FDM") or Monte Carlo Simulation. | ||
Input variables | Risk-free market rate, forward rate, volatility, foreign exchange rate, stock prices, etc. | Risk-free market rate, forward rate, volatility, foreign exchange rate, stock prices, etc. | ||
Derivative liabilities (Designated for hedging) | Level 1 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Derivative financial liabilities | ₩ 0 | ₩ 0 | ||
Transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | ₩ 0 | ₩ 0 | |
Description of reasons for transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | |
Transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | ₩ 0 | ₩ 0 | |
Description of reasons for transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | |
Derivative liabilities (Designated for hedging) | Level 2 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Derivative financial liabilities | ₩ 51,408,000,000 | ₩ 67,754,000,000 | ||
Transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | ₩ 0 | ₩ 0 | |
Description of reasons for transfers out of level1 into level2 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | |
Transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | ₩ 0 | ₩ 0 | |
Description of reasons for transfers out of level2 into level1 of fair value hierarchy liabilities | [2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | |
Derivative liabilities (Designated for hedging) | Level 3 | ||||
Financial liabilities at fair value through profit or loss [Abstract] | ||||
Derivative financial liabilities | ₩ 0 | ₩ 0 | ||
[1] | The consolidated statements of financial position as of December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of financial position as of December 31, 2017 were not retrospectively restated in accordance with IFRS 9. | |||
[2] | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | |||
[3] | Certain unquoted AFS equity securities were measured at cost as of December 31, 2017, that amounted to 37,092 million Won. These unquoted equity instruments mostly represent minority investments in structured entity vehicles, such as asset securitization structures. They are measured at cost because (a) observable inputs of financial information to measure fair value were not available to obtain, (b) there was a significant variance in likely estimated cash flows or (c) the probabilities for various estimated cash flows could not be measured reliably. In addition, the Group has no intention to dispose these investments in the foreseeable future. |
Fair value of financial asset_4
Fair value of financial assets and liabilities_Details of financial assets and liabilities classified into Level 3 of fair value hierarchy (Details) - KRW (₩) | 12 Months Ended | ||||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | ₩ 1,880,550,000,000 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Ending balance | 2,566,715,000,000 | ₩ 1,880,550,000,000 | |||||
Gains losses from financial assets and liabilities classified as level3 that the group holds as at the end of the year | ₩ 137,777,000,000 | [1] | ₩ (34,621,000,000) | [2] | ₩ (94,238,000,000) | [3] | |
Description of reasons for transfers into level3 of fair value hierarchy assets | The Group recognizes transfers between levels at the end of reporting period within which events have occurred or conditions have changed. | The Group recognizes transfers between levels at the end of reporting period within which events have occurred or conditions have changed. | The Group recognizes transfers between levels at the end of reporting period within which events have occurred or conditions have changed. | ||||
Description of reasons for transfers out of level3 of fair value hierarchy assets | The Group recognizes transfers between levels at the end of reporting period within which events have occurred or conditions have changed. | The Group recognizes transfers between levels at the end of reporting period within which events have occurred or conditions have changed. | The Group recognizes transfers between levels at the end of reporting period within which events have occurred or conditions have changed. | ||||
Description of reasons for transfers into level3 of fair value hierarchy liabilities | The Group recognizes transfers between levels at the end of reporting period within which events have occurred or conditions have changed. | The Group recognizes transfers between levels at the end of reporting period within which events have occurred or conditions have changed. | The Group recognizes transfers between levels at the end of reporting period within which events have occurred or conditions have changed. | ||||
Description of reasons for transfers out of level3 of fair value hierarchy liabilities | The Group recognizes transfers between levels at the end of reporting period within which events have occurred or conditions have changed. | The Group recognizes transfers between levels at the end of reporting period within which events have occurred or conditions have changed. | The Group recognizes transfers between levels at the end of reporting period within which events have occurred or conditions have changed. | ||||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Financial instruments measured at fair value level 3 of fair value hierarchy except for sensitivity analysis | ₩ 1,642,008,000,000 | ₩ 1,146,751,000,000 | |||||
Unfavorable changes in unobservable inputs in other comprehensive income | The sensitivity analysis of the financial instruments has been performed by classifying with favorable and unfavorable changes based on how changes in unobservable assumptions would have effects on the fluctuations of financial instruments' value. When the fair value of a financial instrument is affected by more than one unobservable assumption, the below table reflects the most favorable or the most unfavorable changes which resulted from varying the assumptions individually. The sensitivity analysis was performed for two types of level 3 financial instruments: (1) interest rate related derivatives, currency related derivatives, equity related derivatives, equity-linked securities beneficiary certificates and loans of which fair value changes are recognized as net income; (2) equity securities of which fair value changes are recognized as other comprehensive income. | The sensitivity analysis of the financial instruments has been performed by classifying with favorable and unfavorable changes based on how changes in unobservable assumptions would have effects on the fluctuations of financial instruments' value. When the fair value of a financial instrument is affected by more than one unobservable assumption, the below table reflects the most favorable or the most unfavorable changes which resulted from varying the assumptions individually. The sensitivity analysis was performed for two types of level 3 financial instruments: (1) interest rate related derivatives, currency related derivatives, equity related derivatives, equity-linked securities beneficiary certificates and loans of which fair value changes are recognized as net income; (2) equity securities of which fair value changes are recognized as other comprehensive income. | The sensitivity analysis of the financial instruments has been performed by classifying with favorable and unfavorable changes based on how changes in unobservable assumptions would have effects on the fluctuations of financial instruments' value. When the fair value of a financial instrument is affected by more than one unobservable assumption, the below table reflects the most favorable or the most unfavorable changes which resulted from varying the assumptions individually. The sensitivity analysis was performed for two types of level 3 financial instruments: (1) interest rate related derivatives, currency related derivatives, equity related derivatives, equity-linked securities beneficiary certificates and loans of which fair value changes are recognized as net income; (2) equity securities of which fair value changes are recognized as other comprehensive income. | ||||
Description of methods and assumptions used in preparing sensitivity analysis | A VaR model predicts based on statistics of possible losses on the portfolio at a certain period currently or in the future. It indicates the maximum expected loss with at least 99% confidence level. NII is a profit-based indicator for displaying the profit changes in short term due to the short-term interest changes. It will be estimated as subtracting interest expenses of liabilities from the interest income of assets. NPV is an indicator for displaying risks in economic view according to unfavorable changes related to interest rate. It will be estimated as subtracting the present value of liabilities from the present value of assets. EaR shows the maximum profit-loss amount, which indicates the maximum deduction amount caused by the unfavorable changes related to the interest rate of a certain period (i.e. 1 year). Interest rate VaR shows the potential maximum loss generated by the unfavorable changes during a certain period of time in the present or future. | ||||||
Financial assets | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | ₩ 1,699,542,000,000 | ₩ 1,595,698,000,000 | ₩ 1,472,990,000,000 | ||||
Beginning balance | 1,873,686,000,000 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Net Income(loss) | 167,827,000,000 | [1] | 51,179,000,000 | [2] | (31,618,000,000) | [3] | |
Other comprehensive income(loss) | 19,688,000,000 | 20,121,000,000 | 62,474,000,000 | ||||
Purchases Issuances | 5,521,952,000,000 | 299,334,000,000 | 397,922,000,000 | ||||
Disposals Settlements | (5,201,206,000,000) | (266,790,000,000) | (286,359,000,000) | ||||
Transfer to or from level 3 | [4] | 3,310,000,000 | 0 | (19,711,000,000) | |||
Ending balance | 2,385,257,000,000 | 1,699,542,000,000 | 1,595,698,000,000 | ||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | 19,074,000,000 | 2,169,000,000 | 1,568,000,000 | ||||
Unfavorable changes in unobservable inputs in net income(loss) | (15,261,000,000) | (1,459,000,000) | (2,905,000,000) | ||||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | 23,798,000,000 | 30,444,000,000 | 34,315,000,000 | ||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | (10,078,000,000) | (17,103,000,000) | (21,122,000,000) | ||||
Derivative assets | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | 21,482,000,000 | 23,153,000,000 | [5] | 78,676,000,000 | [5] | ||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Net Income(loss) | 22,362,000,000 | [2] | (29,117,000,000) | [3],[5] | |||
Other comprehensive income(loss) | 0 | 0 | [5] | ||||
Purchases Issuances | 1,398,000,000 | 13,640,000,000 | [5] | ||||
Disposals Settlements | (25,431,000,000) | (39,506,000,000) | [5] | ||||
Transfer to or from level 3 | [4] | 0 | (540,000,000) | [5] | |||
Ending balance | 21,482,000,000 | ₩ 23,153,000,000 | [5] | ||||
Description of reasons for transfers out of level3 of fair value hierarchy assets | [5] | As the variables used for the valuation of currency related derivatives became observable in the market, such derivatives were transferred out of Level 3 to Level 2. | |||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | [6] | 1,234,000,000 | ₩ 861,000,000 | ||||
Unfavorable changes in unobservable inputs in net income(loss) | [6] | (526,000,000) | (2,248,000,000) | ||||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | 0 | 0 | |||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | ₩ 0 | ₩ 0 | |||||
Description of methods and assumptions used in preparing sensitivity analysis | [6] | Fair value changes of equity related derivative assets and liabilities and equity-linked securities are calculated by increasing or decreasing historical volatility of the stock price and correlation, which are major unobservable variables, by 10%, respectively. In the case of interest rate related derivative assets and liabilities, fair value changes are calculated by increasing or decreasing the volatility of interest rate, which are major unobservable variables, by 10%. | Fair value changes of equity related derivative assets and liabilities and equity-linked securities are calculated by increasing or decreasing historical volatility of the stock price and correlation, which are major unobservable variables, by 10%, respectively. In the case of interest rate related derivative assets and liabilities, fair value changes are calculated by increasing or decreasing the volatility of interest rate, which are major unobservable variables, by 10%. | ||||
Financial assets at fair value through profit or loss designated upon initial recognition category in accordance with IAS 39 [Member] | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | 22,290,000,000 | ₩ 17,000,000,000 | ₩ 12,595,000,000 | ||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Net Income(loss) | 290,000,000 | [2] | 882,000,000 | [3] | |||
Other comprehensive income(loss) | 0 | 0 | |||||
Purchases Issuances | 5,000,000,000 | 4,509,000,000 | |||||
Disposals Settlements | 0 | (986,000,000) | |||||
Transfer to or from level 3 | [4] | 0 | 0 | ||||
Ending balance | 22,290,000,000 | 17,000,000,000 | |||||
Debt securities | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | 9,694,000,000 | 4,348,000,000 | 986,000,000 | ||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Net Income(loss) | 346,000,000 | [2] | (161,000,000) | [3] | |||
Other comprehensive income(loss) | 0 | 0 | |||||
Purchases Issuances | 5,000,000,000 | 4,509,000,000 | |||||
Disposals Settlements | 0 | (986,000,000) | |||||
Transfer to or from level 3 | [4] | 0 | 0 | ||||
Ending balance | 9,694,000,000 | 4,348,000,000 | |||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | [7] | 265,000,000 | 19,000,000 | ||||
Unfavorable changes in unobservable inputs in net income(loss) | [7] | (309,000,000) | (18,000,000) | ||||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | 0 | 0 | [7] | ||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | ₩ 0 | ₩ 0 | [7] | ||||
Description of methods and assumptions used in preparing sensitivity analysis | [7] | Changes of fair value are measured by increasing or decreasing the discount rate by 10%, which is major unobservable variable, respectively. | Changes of fair value are measured by increasing or decreasing the discount rate by 10%, which is major unobservable variable, respectively. | ||||
Equity securities | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | 12,596,000,000 | ₩ 12,652,000,000 | ₩ 11,609,000,000 | ||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Net Income(loss) | (56,000,000) | [2] | 1,043,000,000 | [3] | |||
Other comprehensive income(loss) | 0 | 0 | |||||
Purchases Issuances | 0 | 0 | |||||
Disposals Settlements | 0 | 0 | |||||
Transfer to or from level 3 | [4] | 0 | 0 | ||||
Ending balance | 12,596,000,000 | 12,652,000,000 | |||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | [7] | 670,000,000 | 688,000,000 | ||||
Unfavorable changes in unobservable inputs in net income(loss) | [7] | (624,000,000) | (639,000,000) | ||||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | 0 | 0 | [7] | ||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | ₩ 0 | ₩ 0 | [7] | ||||
Description of methods and assumptions used in preparing sensitivity analysis | [7] | Changes of fair value are measured by increasing or decreasing the discount rate by 10%, which is major unobservable variable, respectively. | Changes of fair value are measured by increasing or decreasing the discount rate by 10%, which is major unobservable variable, respectively. | ||||
AFS financial assets | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | 1,655,770,000,000 | ₩ 1,555,446,000,000 | ₩ 1,375,746,000,000 | ||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Net Income(loss) | 28,198,000,000 | [2] | (7,260,000,000) | [3] | |||
Other comprehensive income(loss) | 20,121,000,000 | 62,474,000,000 | |||||
Purchases Issuances | 292,936,000,000 | 379,773,000,000 | |||||
Disposals Settlements | (240,931,000,000) | (236,116,000,000) | |||||
Transfer to or from level 3 | [4] | 0 | (19,171,000,000) | ||||
Ending balance | 1,655,770,000,000 | 1,555,446,000,000 | |||||
Equity securities | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | 1,011,864,000,000 | 1,024,935,000,000 | [8] | 993,368,000,000 | [5] | ||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Net Income(loss) | 27,986,000,000 | [2] | (6,986,000,000) | [3],[8] | |||
Other comprehensive income(loss) | 24,442,000,000 | 57,323,000,000 | [8] | ||||
Purchases Issuances | 65,961,000,000 | 205,749,000,000 | [8] | ||||
Disposals Settlements | (131,460,000,000) | (205,348,000,000) | [8] | ||||
Transfer to or from level 3 | [4] | 0 | (19,171,000,000) | [8] | |||
Ending balance | 1,011,864,000,000 | ₩ 1,024,935,000,000 | [8] | ||||
Description of reasons for transfers out of level3 of fair value hierarchy assets | [8] | AFS financial assets were transferred out of level 1 to level 3 upon the change of the fair value measurement method of the assets by using market the external valuation specialists from previously using quoted prices in the active market, in the opposite case, they were transferred out of level 3 to level 1. | |||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | 0 | ||||||
Unfavorable changes in unobservable inputs in net income(loss) | 0 | ||||||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | [9],[10] | 28,583,000,000 | ₩ 31,412,000,000 | ||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | [9],[10] | ₩ (15,246,000,000) | ₩ (18,551,000,000) | ||||
Description of methods and assumptions used in preparing sensitivity analysis | [9] | Fair value changes of equity securities are calculated by increasing or decreasing growth rate (0~1%) and discount rate or liquidation value (-1~1%). The growth rate, discount rate, and liquidation value are major unobservable variables. Even if the sensitivity analysis of the capital contributions and beneficiary certificates is not possible in practice, fair value changes of beneficiary certificates and other securities whose major unobservable variables are composed of the real estate are calculated by increasing or decreasing price fluctuation of real estate which is underlying assets and discount rate by 1%. | Fair value changes of equity securities are calculated by increasing or decreasing growth rate (0~1%) and discount rate or liquidation value (-1~1%). The growth rate, discount rate, and liquidation value are major unobservable variables. Even if the sensitivity analysis of the capital contributions and beneficiary certificates is not possible in practice, fair value changes of beneficiary certificates and other securities whose major unobservable variables are composed of the real estate are calculated by increasing or decreasing price fluctuation of real estate which is underlying assets and discount rate by 1%. | [10] | |||
Beneficiary certificates | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | 643,906,000,000 | ₩ 530,511,000,000 | ₩ 377,070,000,000 | ||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Net Income(loss) | 212,000,000 | [2] | (868,000,000) | [3] | |||
Other comprehensive income(loss) | (4,321,000,000) | 5,794,000,000 | |||||
Purchases Issuances | 226,975,000,000 | 174,024,000,000 | |||||
Disposals Settlements | (109,471,000,000) | (25,509,000,000) | |||||
Transfer to or from level 3 | [4] | 0 | 0 | ||||
Ending balance | 643,906,000,000 | 530,511,000,000 | |||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | 0 | ||||||
Unfavorable changes in unobservable inputs in net income(loss) | 0 | ||||||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | [9] | 1,861,000,000 | 2,903,000,000 | ||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | [9] | ₩ (1,857,000,000) | ₩ (2,571,000,000) | ||||
Description of methods and assumptions used in preparing sensitivity analysis | [9] | Even if the sensitivity analysis of the capital contributions and beneficiary certificates is not possible in practice, fair value changes of beneficiary certificates and other securities whose major unobservable variables are composed of the real estate are calculated by increasing or decreasing price fluctuation of real estate which is underlying assets and discount rate by 1%. | Even if the sensitivity analysis of the capital contributions and beneficiary certificates is not possible in practice, fair value changes of beneficiary certificates and other securities whose major unobservable variables are composed of the real estate are calculated by increasing or decreasing price fluctuation of real estate which is underlying assets and discount rate by 1%. | ||||
Others | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | ₩ 0 | ₩ 5,308,000,000 | |||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Net Income(loss) | [3] | 594,000,000 | |||||
Other comprehensive income(loss) | (643,000,000) | ||||||
Purchases Issuances | 0 | ||||||
Disposals Settlements | (5,259,000,000) | ||||||
Transfer to or from level 3 | [4] | 0 | |||||
Ending balance | 0 | ||||||
Financial assets at FVTPL (IFRS 9) | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | 1,422,399,000,000 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Net Income(loss) | [1] | 167,827,000,000 | |||||
Other comprehensive income(loss) | 0 | ||||||
Purchases Issuances | 5,521,520,000,000 | ||||||
Disposals Settlements | (5,198,646,000,000) | ||||||
Transfer to or from level 3 | [4] | 3,310,000,000 | |||||
Ending balance | 1,916,410,000,000 | ||||||
Debt securities | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | 9,694,000,000 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Net Income(loss) | [1] | (28,000,000) | |||||
Other comprehensive income(loss) | 0 | ||||||
Purchases Issuances | 3,000,000,000 | ||||||
Disposals Settlements | (4,277,000,000) | ||||||
Transfer to or from level 3 | [4] | 0 | |||||
Ending balance | 8,389,000,000 | ||||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | 68,000,000 | ||||||
Unfavorable changes in unobservable inputs in net income(loss) | (35,000,000) | ||||||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | 0 | ||||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | ₩ 0 | ||||||
Equity securities | |||||||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Abstract] | |||||||
Fair value measurement technique | External appraisal value and others | ||||||
Input variable | Terminal growth rate Discount rate Volatility of real estate sale price | ||||||
Impact of changes in significant unobservable inputs on fair value measurement | Fair value increases as terminal growth rate increases. Fair value increases as discount rate decreases. Fair value increases as volatility of real estate sale price increases. | ||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | ₩ 280,171,000,000 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Net Income(loss) | [1] | 56,271,000,000 | |||||
Other comprehensive income(loss) | 0 | ||||||
Purchases Issuances | 67,953,000,000 | ||||||
Disposals Settlements | (2,535,000,000) | ||||||
Transfer to or from level 3 | [4] | 0 | |||||
Ending balance | 401,860,000,000 | ||||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | [9],[10] | 12,700,000,000 | |||||
Unfavorable changes in unobservable inputs in net income(loss) | [9],[10] | (9,165,000,000) | |||||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | 0 | ||||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | ₩ 0 | ||||||
Description of methods and assumptions used in preparing sensitivity analysis | [9],[10] | Fair value changes of equity securities are calculated by increasing or decreasing growth rate (0~1%) and discount rate or liquidation value (-1~1%). The growth rate, discount rate, and liquidation value are major unobservable variables. Even if the sensitivity analysis of the capital contributions and beneficiary certificates is not possible in practice, fair value changes of beneficiary certificates and other securities whose major unobservable variables are composed of the real estate are calculated by increasing or decreasing price fluctuation of real estate which is underlying assets and discount rate by 1%. | |||||
Equity securities | Bottom of range [Member] | |||||||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Abstract] | |||||||
Discount rate | 3.67% | ||||||
Equity securities | Top of range [Member] | |||||||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Abstract] | |||||||
Expected growth rate | 0.00% | ||||||
Volatility of real estate sale price | 0.00% | ||||||
Discount rate | 17.40% | ||||||
Capital contributions | |||||||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Abstract] | |||||||
Fair value measurement technique | External appraisal value and others | ||||||
Input variable | Terminal growth rate Discount rate Volatility of real estate sale price | ||||||
Impact of changes in significant unobservable inputs on fair value measurement | Fair value increases as terminal growth rate increases. Fair value increases as discount rate decreases. Fair value increases as volatility of real estate sale price increases. | ||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | ₩ 294,121,000,000 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Net Income(loss) | [1] | 16,119,000,000 | |||||
Other comprehensive income(loss) | 0 | ||||||
Purchases Issuances | 144,207,000,000 | ||||||
Disposals Settlements | (31,833,000,000) | ||||||
Transfer to or from level 3 | [4] | 0 | |||||
Ending balance | ₩ 422,614,000,000 | ||||||
Capital contributions | Bottom of range [Member] | |||||||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Abstract] | |||||||
Discount rate | 3.67% | ||||||
Capital contributions | Top of range [Member] | |||||||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Abstract] | |||||||
Expected growth rate | 0.00% | ||||||
Volatility of real estate sale price | 0.00% | ||||||
Discount rate | 17.40% | ||||||
Beneficiary certificates | |||||||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Abstract] | |||||||
Fair value measurement technique | External appraisal value and others | ||||||
Input variable | Terminal growth rate Discount rate Volatility of real estate sale price | ||||||
Impact of changes in significant unobservable inputs on fair value measurement | Fair value increases as terminal growth rate increases. Fair value increases as discount rate decreases. Fair value increases as volatility of real estate sale price increases. | ||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | ₩ 654,066,000,000 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Net Income(loss) | [1] | 16,391,000,000 | |||||
Other comprehensive income(loss) | 0 | ||||||
Purchases Issuances | 5,151,535,000,000 | ||||||
Disposals Settlements | (4,971,003,000,000) | ||||||
Transfer to or from level 3 | [4] | 3,310,000,000 | |||||
Ending balance | 854,299,000,000 | ||||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | [9] | 1,582,000,000 | |||||
Unfavorable changes in unobservable inputs in net income(loss) | [9] | (1,582,000,000) | |||||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | 0 | ||||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | ₩ 0 | ||||||
Description of methods and assumptions used in preparing sensitivity analysis | [9] | Even if the sensitivity analysis of the capital contributions and beneficiary certificates is not possible in practice, fair value changes of beneficiary certificates and other securities whose major unobservable variables are composed of the real estate are calculated by increasing or decreasing price fluctuation of real estate which is underlying assets and discount rate by 1%. | |||||
Beneficiary certificates | Bottom of range [Member] | |||||||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Abstract] | |||||||
Discount rate | 3.67% | ||||||
Beneficiary certificates | Top of range [Member] | |||||||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Abstract] | |||||||
Expected growth rate | 0.00% | ||||||
Volatility of real estate sale price | 0.00% | ||||||
Discount rate | 17.40% | ||||||
Loans | |||||||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Abstract] | |||||||
Fair value measurement technique | Binomial tree | ||||||
Input variable | Stock, Volatility of underlying asset | ||||||
Impact of changes in significant unobservable inputs on fair value measurement | Fair value increases as volatility of underlying asset increases. | ||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | ₩ 165,001,000,000 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Net Income(loss) | [1] | 3,378,000,000 | |||||
Other comprehensive income(loss) | 0 | ||||||
Purchases Issuances | 150,103,000,000 | ||||||
Disposals Settlements | (138,032,000,000) | ||||||
Transfer to or from level 3 | [4] | 0 | |||||
Ending balance | 180,450,000,000 | ||||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | 146,000,000 | ||||||
Unfavorable changes in unobservable inputs in net income(loss) | (127,000,000) | ||||||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | 0 | ||||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | ₩ 0 | ||||||
Loans | Bottom of range [Member] | |||||||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Abstract] | |||||||
Volatility of underlying asset | 15.49% | ||||||
Loans | Top of range [Member] | |||||||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Abstract] | |||||||
Volatility of underlying asset | 36.96% | ||||||
Derivative assets | |||||||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Abstract] | |||||||
Fair value measurement technique | Option valuation model and others | ||||||
Input variable | Correlation coefficient Volatility of underlying asset | ||||||
Impact of changes in significant unobservable inputs on fair value measurement | Variation of fair value increases as correlation coefficient increases. Variation of fair value increases as volatility increases. | ||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | ₩ 19,346,000,000 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Net Income(loss) | [1] | 75,696,000,000 | |||||
Other comprehensive income(loss) | 0 | ||||||
Purchases Issuances | 4,722,000,000 | ||||||
Disposals Settlements | (50,966,000,000) | ||||||
Transfer to or from level 3 | [4] | 0 | |||||
Ending balance | 48,798,000,000 | ||||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | [6] | 4,578,000,000 | |||||
Unfavorable changes in unobservable inputs in net income(loss) | [6] | (4,352,000,000) | |||||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | 0 | ||||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | ₩ 0 | ||||||
Description of methods and assumptions used in preparing sensitivity analysis | [6] | Fair value changes of equity related derivative assets and liabilities and equity-linked securities are calculated by increasing or decreasing historical volatility of the stock price and correlation, which are major unobservable variables, by 10%, respectively. In the case of interest rate related derivative assets and liabilities, fair value changes are calculated by increasing or decreasing the volatility of interest rate, which are major unobservable variables, by 10%. | |||||
Derivative assets | Bottom of range [Member] | |||||||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Abstract] | |||||||
Volatility of underlying asset | 14.00% | ||||||
Correlation coefficient | 90.00% | ||||||
Derivative assets | Top of range [Member] | |||||||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Abstract] | |||||||
Volatility of underlying asset | 34.28% | ||||||
Correlation coefficient | 98.00% | ||||||
Equity securities | |||||||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Abstract] | |||||||
Fair value measurement technique | External appraisal value and others | ||||||
Input variable | Terminal growth rate Discount rate Volatility of real estate sale price | ||||||
Impact of changes in significant unobservable inputs on fair value measurement | Fair value increases as terminal growth rate increases. Fair value increases as discount rate decreases. Fair value increases as volatility of real estate sale price increases. | ||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | ₩ 451,287,000,000 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Net Income(loss) | [1] | 0 | |||||
Other comprehensive income(loss) | 19,688,000,000 | ||||||
Purchases Issuances | 432,000,000 | ||||||
Disposals Settlements | (2,560,000,000) | ||||||
Transfer to or from level 3 | [4] | 0 | |||||
Ending balance | 468,847,000,000 | ||||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | 0 | ||||||
Unfavorable changes in unobservable inputs in net income(loss) | 0 | ||||||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | [9],[10] | 23,798,000,000 | |||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | [9],[10] | ₩ (10,078,000,000) | |||||
Description of methods and assumptions used in preparing sensitivity analysis | [9],[10] | Fair value changes of equity securities are calculated by increasing or decreasing growth rate (0~1%) and discount rate or liquidation value (-1~1%). The growth rate, discount rate, and liquidation value are major unobservable variables. Even if the sensitivity analysis of the capital contributions and beneficiary certificates is not possible in practice, fair value changes of beneficiary certificates and other securities whose major unobservable variables are composed of the real estate are calculated by increasing or decreasing price fluctuation of real estate which is underlying assets and discount rate by 1%. | |||||
Equity securities | Bottom of range [Member] | |||||||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Abstract] | |||||||
Discount rate | 3.67% | ||||||
Equity securities | Top of range [Member] | |||||||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Abstract] | |||||||
Expected growth rate | 0.00% | ||||||
Volatility of real estate sale price | 0.00% | ||||||
Discount rate | 17.40% | ||||||
Derivative assets | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | ₩ 0 | 99,000,000 | 5,973,000,000 | ||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Net Income(loss) | 329,000,000 | [2] | 3,877,000,000 | [3] | |||
Other comprehensive income(loss) | 0 | 0 | |||||
Purchases Issuances | 0 | 0 | |||||
Disposals Settlements | (428,000,000) | (9,751,000,000) | |||||
Transfer to or from level 3 | [4] | 0 | 0 | ||||
Ending balance | 0 | 99,000,000 | |||||
Financial liabilities | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | 181,008,000,000 | 707,233,000,000 | 825,958,000,000 | ||||
Beginning balance | 181,008,000,000 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Net Income(loss) | 30,166,000,000 | [1] | 136,881,000,000 | [2] | 62,757,000,000 | [3] | |
Other comprehensive income(loss) | 0 | 0 | 0 | ||||
Purchases Issuances | 183,294,000,000 | 500,000,000 | 1,155,000,000 | ||||
Disposals Settlements | (213,007,000,000) | (663,606,000,000) | (182,637,000,000) | ||||
Transfer to or from level 3 | [4] | (3,000,000) | 0 | 0 | |||
Ending balance | 181,458,000,000 | 181,008,000,000 | 707,233,000,000 | ||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | 3,994,000,000 | 13,000,000 | 5,797,000,000 | ||||
Unfavorable changes in unobservable inputs in net income(loss) | (4,420,000,000) | (520,000,000) | (4,425,000,000) | ||||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | 0 | 0 | 0 | ||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | 0 | 0 | 0 | ||||
Derivative liabilities | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | 20,951,000,000 | 33,524,000,000 | 78,607,000,000 | ||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Net Income(loss) | 24,866,000,000 | [2] | (8,322,000,000) | [3] | |||
Other comprehensive income(loss) | 0 | 0 | |||||
Purchases Issuances | 500,000,000 | 1,155,000,000 | |||||
Disposals Settlements | (37,939,000,000) | (37,916,000,000) | |||||
Transfer to or from level 3 | [4] | 0 | 0 | ||||
Ending balance | 20,951,000,000 | 33,524,000,000 | |||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | [6] | 5,000,000 | 4,892,000,000 | ||||
Unfavorable changes in unobservable inputs in net income(loss) | [6] | (513,000,000) | (3,568,000,000) | ||||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | 0 | 0 | |||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | ₩ 0 | ₩ 0 | |||||
Description of methods and assumptions used in preparing sensitivity analysis | [6] | Fair value changes of equity related derivative assets and liabilities and equity-linked securities are calculated by increasing or decreasing historical volatility of the stock price and correlation, which are major unobservable variables, by 10%, respectively. In the case of interest rate related derivative assets and liabilities, fair value changes are calculated by increasing or decreasing the volatility of interest rate, which are major unobservable variables, by 10%. | Fair value changes of equity related derivative assets and liabilities and equity-linked securities are calculated by increasing or decreasing historical volatility of the stock price and correlation, which are major unobservable variables, by 10%, respectively. In the case of interest rate related derivative assets and liabilities, fair value changes are calculated by increasing or decreasing the volatility of interest rate, which are major unobservable variables, by 10%. | ||||
Equity linked securities | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | ₩ 160,057,000,000 | ₩ 673,709,000,000 | ₩ 747,351,000,000 | ||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Net Income(loss) | 112,015,000,000 | [2] | 71,079,000,000 | [3] | |||
Other comprehensive income(loss) | 0 | 0 | |||||
Purchases Issuances | 0 | 0 | |||||
Disposals Settlements | (625,667,000,000) | (144,721,000,000) | |||||
Transfer to or from level 3 | [4] | 0 | 0 | ||||
Ending balance | 160,057,000,000 | 673,709,000,000 | |||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | [6] | 8,000,000 | 905,000,000 | ||||
Unfavorable changes in unobservable inputs in net income(loss) | [6] | (7,000,000) | (857,000,000) | ||||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | 0 | 0 | |||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | ₩ 0 | ₩ 0 | |||||
Description of methods and assumptions used in preparing sensitivity analysis | [6] | Fair value changes of equity related derivative assets and liabilities and equity-linked securities are calculated by increasing or decreasing historical volatility of the stock price and correlation, which are major unobservable variables, by 10%, respectively. In the case of interest rate related derivative assets and liabilities, fair value changes are calculated by increasing or decreasing the volatility of interest rate, which are major unobservable variables, by 10%. | Fair value changes of equity related derivative assets and liabilities and equity-linked securities are calculated by increasing or decreasing historical volatility of the stock price and correlation, which are major unobservable variables, by 10%, respectively. In the case of interest rate related derivative assets and liabilities, fair value changes are calculated by increasing or decreasing the volatility of interest rate, which are major unobservable variables, by 10%. | ||||
Derivative liabilities | |||||||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Abstract] | |||||||
Fair value measurement technique | Option valuation model and others | ||||||
Input variable | Correlation coefficient Volatility of underlying asset | ||||||
Impact of changes in significant unobservable inputs on fair value measurement | Variation of fair value increases as correlation coefficient increases. Variation of fair value increases as volatility increases. | ||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | ₩ 20,951,000,000 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Net Income(loss) | [1] | 46,409,000,000 | |||||
Other comprehensive income(loss) | 0 | ||||||
Purchases Issuances | 255,000,000 | ||||||
Disposals Settlements | (50,921,000,000) | ||||||
Transfer to or from level 3 | [4] | (3,000,000) | |||||
Ending balance | 16,691,000,000 | ||||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | [6] | 2,433,000,000 | |||||
Unfavorable changes in unobservable inputs in net income(loss) | [6] | (2,751,000,000) | |||||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | 0 | ||||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | ₩ 0 | ||||||
Description of methods and assumptions used in preparing sensitivity analysis | [6] | Fair value changes of equity related derivative assets and liabilities and equity-linked securities are calculated by increasing or decreasing historical volatility of the stock price and correlation, which are major unobservable variables, by 10%, respectively. In the case of interest rate related derivative assets and liabilities, fair value changes are calculated by increasing or decreasing the volatility of interest rate, which are major unobservable variables, by 10%. | |||||
Derivative liabilities | Bottom of range [Member] | |||||||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Abstract] | |||||||
Volatility of underlying asset | 14.00% | ||||||
Correlation coefficient | 90.00% | ||||||
Derivative liabilities | Top of range [Member] | |||||||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Abstract] | |||||||
Volatility of underlying asset | 34.28% | ||||||
Correlation coefficient | 98.00% | ||||||
Equity-linked securities | |||||||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Abstract] | |||||||
Fair value measurement technique | Monte Carlo Simulation and others | ||||||
Input variable | Correlation coefficient Volatility of underlying asset | ||||||
Impact of changes in significant unobservable inputs on fair value measurement | Equity-linked securities' variation of fair value increases if both volatility and correlation coefficient increase. However, when correlation coefficient decreases despite the increase in volatility, the variation of fair value of a compound financial instrument may decrease. | ||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | ₩ 160,057,000,000 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Net Income(loss) | [1] | (16,243,000,000) | |||||
Other comprehensive income(loss) | 0 | ||||||
Purchases Issuances | 183,039,000,000 | ||||||
Disposals Settlements | (162,086,000,000) | ||||||
Transfer to or from level 3 | [4] | 0 | |||||
Ending balance | 164,767,000,000 | ||||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | [6] | 1,561,000,000 | |||||
Unfavorable changes in unobservable inputs in net income(loss) | [6] | (1,669,000,000) | |||||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | 0 | ||||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | ₩ 0 | ||||||
Description of methods and assumptions used in preparing sensitivity analysis | [6] | Fair value changes of equity related derivative assets and liabilities and equity-linked securities are calculated by increasing or decreasing historical volatility of the stock price and correlation, which are major unobservable variables, by 10%, respectively. In the case of interest rate related derivative assets and liabilities, fair value changes are calculated by increasing or decreasing the volatility of interest rate, which are major unobservable variables, by 10%. | |||||
Equity-linked securities | Bottom of range [Member] | |||||||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Abstract] | |||||||
Volatility of underlying asset | 22.09% | ||||||
Correlation coefficient | 0.50% | ||||||
Equity-linked securities | Top of range [Member] | |||||||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Abstract] | |||||||
Volatility of underlying asset | 31.19% | ||||||
Correlation coefficient | 65.80% | ||||||
[1] | The losses that increase financial liabilities are presented as positive amounts, and the gains that decrease financial liabilities are presented as negative amounts. The gain amounting to 137,777 million Won for the years ended December 31, 2018, which is from financial assets and liabilities that the Group holds as at the end of the periods, has been recognized in net gain (loss) on financial assets at FVTPL and net gain (loss) on financial assets at FVTOCI in the consolidated statement of comprehensive income. | ||||||
[2] | The losses that increase financial liabilities are presented as positive amounts, and the gains that decrease financial liabilities are presented as negative amounts. The loss amounting to 34,621 million Won for the year ended December 31, 2017, which is from financial assets and liabilities that the Group holds, has been recognized in net gain (loss) on financial instruments at FVTPL and net gain (loss) on AFS financial assets in the statement of comprehensive income. | ||||||
[3] | The losses that increase financial liabilities are presented as positive amounts, and the gains that decrease financial liabilities are presented as negative amounts. The loss amounting to 94,238 million Won for the year ended December 31, 2016, which is from financial assets and liabilities that the Group holds, has been recognized in net gain (loss) on financial instruments at FVTPL and net gain (loss) on AFS financial assets in the statement of comprehensive income. | ||||||
[4] | The Group recognizes transfers between levels at the end of reporting period within which events have occurred or conditions have changed. | ||||||
[5] | As the variables used for the valuation of currency related derivatives became observable in the market, such derivatives were transferred out of Level 3 to Level 2. | ||||||
[6] | Fair value changes of equity related derivative assets and liabilities and equity-linked securities are calculated by increasing or decreasing historical volatility of the stock price and correlation, which are major unobservable variables, by 10%, respectively. In the case of interest rate related derivative assets and liabilities, fair value changes are calculated by increasing or decreasing the volatility of interest rate, which are major unobservable variables, by 10%. | ||||||
[7] | Changes of fair value are measured by increasing or decreasing the discount rate by 10%, which is major unobservable variable, respectively. | ||||||
[8] | AFS financial assets were transferred out of level 1 to level 3 upon the change of the fair value measurement method of the assets by using market the external valuation specialists from previously using quoted prices in the active market, in the opposite case, they were transferred out of level 3 to level 1. | ||||||
[9] | Even if the sensitivity analysis of the capital contributions and beneficiary certificates is not possible in practice, fair value changes of beneficiary certificates and other securities whose major unobservable variables are composed of the real estate are calculated by increasing or decreasing price fluctuation of real estate which is underlying assets and discount rate by 1%. | ||||||
[10] | Fair value changes of equity securities are calculated by increasing or decreasing growth rate (0~1%) and discount rate or liquidation value (-1~1%). The growth rate, discount rate, and liquidation value are major unobservable variables. |
Fair value of financial asset_5
Fair value of financial assets and liabilities_Fair value and carrying amount of financial assets and liabilities measured at amortized cost (Details) | 12 Months Ended | |||
Dec. 31, 2018KRW (₩) | Dec. 31, 2017KRW (₩) | Dec. 31, 2018USD ($) | ||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | ||||
Securities at amortized cost | ₩ 23,035,343,000,000 | |||
Loans and other financial assets at amortized cost | 282,342,760,000,000 | |||
Held-to-maturity financial assets | ₩ 16,715,679,000,000 | |||
Loans and receivables | 265,570,649,000,000 | |||
Deposits due to customers | 248,763,952,000,000 | 234,682,775,000,000 | ||
Borrowings | 16,203,070,000,000 | 14,754,506,000,000 | ||
Debentures | 28,765,251,000,000 | 27,889,781,000,000 | ||
Other financial liabilities | 21,461,397,000,000 | 13,890,789,000,000 | ||
Carrying value of financial assets liabilities measured at amortised cost [Abstract] | ||||
Securities at amortized cost | [1] | 22,932,559,000,000 | 0 | $ 20,606,127,000 |
Loans and other financial assets at amortized cost | [1] | 282,457,578,000,000 | 0 | 253,803,197,000 |
Held-to-maturity financial assets | [1] | 0 | 16,749,296,000,000 | 0 |
Loans and receivables | [1] | 0 | 267,106,204,000,000 | 0 |
Deposits due to customers | 248,690,939,000,000 | 234,695,084,000,000 | 223,462,071,000 | |
Borrowings | 16,202,986,000,000 | 14,784,706,000,000 | 14,559,247,000 | |
Debentures | 28,735,862,000,000 | 27,869,651,000,000 | 25,820,704,000 | |
Other financial liabilities | ₩ 21,442,524,000,000 | ₩ 13,892,461,000,000 | $ 19,267,251,000 | |
Securities at amortized cost | ||||
Disclosure of financial assets liabilities measured at amortised [Abstract] | ||||
Fair value measurement technique | The fair value is measured by discounting the projected cash flows of debt securities by applying the market discount rate that has been applied to a proxy company that has similar credit rating to the issuers of the securities. | |||
Input variables | Risk-free market rate and credit spread | |||
Securities at amortized cost | Level 1 | ||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | ||||
Securities at amortized cost | ₩ 3,618,213,000,000 | |||
Securities at amortized cost | Level 2 | ||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | ||||
Securities at amortized cost | 19,417,130,000,000 | |||
Securities at amortized cost | Level 3 | ||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | ||||
Securities at amortized cost | ₩ 0 | |||
Loans and other financial assets at amortized cost | ||||
Disclosure of financial assets liabilities measured at amortised [Abstract] | ||||
Fair value measurement technique | The fair value is measured by discounting the projected cash flows of loan products by applying the market discount rate that has been applied to a proxy company that has similar credit rating to the debtor. | |||
Input variables | Risk-free market rate, credit spread and prepayment-rate | |||
Loans and other financial assets at amortized cost | Level 1 | ||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | ||||
Loans and other financial assets at amortized cost | ₩ 0 | |||
Loans and other financial assets at amortized cost | Level 2 | ||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | ||||
Loans and other financial assets at amortized cost | 0 | |||
Loans and other financial assets at amortized cost | Level 3 | ||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | ||||
Loans and other financial assets at amortized cost | ₩ 282,342,760,000,000 | |||
HTM financial assets | ||||
Disclosure of financial assets liabilities measured at amortised [Abstract] | ||||
Fair value measurement technique | The fair value is measured by discounting the projected cash flows of debt securities by applying the market discount rate that has been applied to a proxy company that has similar credit rating to the issuers of the securities. | |||
Input variables | Risk-free market rate and credit spread | |||
HTM financial assets | Level 1 | ||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | ||||
Held-to-maturity financial assets | ₩ 1,206,292,000,000 | |||
HTM financial assets | Level 2 | ||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | ||||
Held-to-maturity financial assets | 15,509,387,000,000 | |||
HTM financial assets | Level 3 | ||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | ||||
Held-to-maturity financial assets | ₩ 0 | |||
Loans | ||||
Disclosure of financial assets liabilities measured at amortised [Abstract] | ||||
Fair value measurement technique | The fair value is measured by discounting the projected cash flows of loan products by applying the market discount rate that has been applied to a proxy company that has similar credit rating to the debtor. | |||
Input variables | Risk-free market rate, credit spread and prepayment-rate | |||
Loans | Level 1 | ||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | ||||
Loans and receivables | ₩ 0 | |||
Loans | Level 2 | ||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | ||||
Loans and receivables | 0 | |||
Loans | Level 3 | ||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | ||||
Loans and receivables | ₩ 265,570,649,000,000 | |||
Deposits due to customers | ||||
Disclosure of financial assets liabilities measured at amortised [Abstract] | ||||
Fair value measurement technique | The fair value is measured by discounting the projected cash flows of debt products by applying the market discount rate that is reflecting credit rating of the Group. | The fair value is measured by discounting the projected cash flows of debt products by applying the market discount rate that is reflecting credit rating of the Group. | ||
Input variables | Risk-free market rate and forward rate | Risk-free market rate and forward rate | ||
Deposits due to customers | Level 1 | ||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | ||||
Deposits due to customers | ₩ 0 | ₩ 0 | ||
Deposits due to customers | Level 2 | ||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | ||||
Deposits due to customers | 248,763,952,000,000 | 234,682,775,000,000 | ||
Deposits due to customers | Level 3 | ||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | ||||
Deposits due to customers | ₩ 0 | ₩ 0 | ||
Borrowings | ||||
Disclosure of financial assets liabilities measured at amortised [Abstract] | ||||
Fair value measurement technique | The fair value is measured by discounting the projected cash flows of debt products by applying the market discount rate that is reflecting credit rating of the Group. | The fair value is measured by discounting the projected cash flows of debt products by applying the market discount rate that is reflecting credit rating of the Group. | ||
Input variables | Risk-free market rate and forward rate | Risk-free market rate and forward rate | ||
Borrowings | Level 1 | ||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | ||||
Borrowings | ₩ 0 | ₩ 0 | ||
Borrowings | Level 2 | ||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | ||||
Borrowings | 16,203,070,000,000 | 14,754,506,000,000 | ||
Borrowings | Level 3 | ||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | ||||
Borrowings | ₩ 0 | ₩ 0 | ||
Debentures | ||||
Disclosure of financial assets liabilities measured at amortised [Abstract] | ||||
Fair value measurement technique | The fair value is measured by discounting the projected cash flows of debt products by applying the market discount rate that is reflecting credit rating of the Group. | The fair value is measured by discounting the projected cash flows of debt products by applying the market discount rate that is reflecting credit rating of the Group. | ||
Input variables | Risk-free market rate and forward rate | Risk-free market rate and forward rate | ||
Debentures | Level 1 | ||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | ||||
Debentures | ₩ 0 | ₩ 0 | ||
Debentures | Level 2 | ||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | ||||
Debentures | 28,765,251,000,000 | 27,889,781,000,000 | ||
Debentures | Level 3 | ||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | ||||
Debentures | ₩ 0 | ₩ 0 | ||
Other financial liabilities | ||||
Disclosure of financial assets liabilities measured at amortised [Abstract] | ||||
Fair value measurement technique | The fair value is measured by discounting the projected cash flows of debt products by applying the market discount rate that is reflecting credit rating of the Group. | The fair value is measured by discounting the projected cash flows of debt products by applying the market discount rate that is reflecting credit rating of the Group. | ||
Input variables | Risk-free market rate and forward rate | Risk-free market rate and forward rate | ||
Other financial liabilities | Level 1 | ||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | ||||
Other financial liabilities | ₩ 0 | ₩ 0 | ||
Other financial liabilities | Level 2 | ||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | ||||
Other financial liabilities | 21,461,397,000,000 | 13,890,789,000,000 | ||
Other financial liabilities | Level 3 | ||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | ||||
Other financial liabilities | ₩ 0 | ₩ 0 | ||
[1] | The consolidated statements of financial position as of December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of financial position as of December 31, 2017 were not retrospectively restated in accordance with IFRS 9. |
Fair value of financial asset_6
Fair value of financial assets and liabilities_Financial assets by category (Details) | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | |
Disclosure of financial assets [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | [1] | ₩ 6,126,316,000,000 | $ 5,504,822,000 | ₩ 0 |
Financial assets at fair value through profit or loss in accordance with IAS 39 | [1] | 0 | 0 | 5,843,077,000,000 |
Financial assets at FVTOCI | [1] | 18,063,423,000,000 | 16,230,949,000 | 0 |
AFS financial assets | [1] | 0 | 0 | 15,352,950,000,000 |
Financial assets at amortized cost | 305,390,137,000,000 | |||
Held-to-maturity financial assets | [1] | 0 | 0 | 16,749,296,000,000 |
Loans and receivables | [1] | 0 | 0 | 267,106,204,000,000 |
Derivative assets (Designated for hedging) | 35,503,000,000 | $ 31,901,000 | 59,272,000,000 | |
Total | 329,615,379,000,000 | 305,110,799,000,000 | ||
Deposit | ||||
Disclosure of financial assets [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | 26,935,000,000 | |||
Financial assets at fair value through profit or loss in accordance with IAS 39 | 25,972,000,000 | |||
Financial assets at FVTOCI | 0 | |||
AFS financial assets | 0 | |||
Financial assets at amortized cost | 14,151,012,000,000 | |||
Held-to-maturity financial assets | 0 | |||
Loans and receivables | 8,868,378,000,000 | |||
Derivative assets (Designated for hedging) | 0 | 0 | ||
Total | 14,177,947,000,000 | 8,894,350,000,000 | ||
Securities | ||||
Disclosure of financial assets [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | 3,687,852,000,000 | |||
Financial assets at fair value through profit or loss in accordance with IAS 39 | 2,701,330,000,000 | |||
Financial assets at FVTOCI | 18,063,423,000,000 | |||
AFS financial assets | 15,352,950,000,000 | |||
Financial assets at amortized cost | 22,932,559,000,000 | |||
Held-to-maturity financial assets | 16,749,296,000,000 | |||
Derivative assets (Designated for hedging) | 0 | 0 | ||
Total | 44,683,834,000,000 | 34,803,576,000,000 | ||
Loans | ||||
Disclosure of financial assets [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | 385,450,000,000 | |||
Financial assets at fair value through profit or loss in accordance with IAS 39 | 0 | |||
Financial assets at FVTOCI | 0 | |||
AFS financial assets | 0 | |||
Financial assets at amortized cost | 260,819,917,000,000 | |||
Held-to-maturity financial assets | 0 | |||
Loans and receivables | 251,523,301,000,000 | |||
Derivative assets (Designated for hedging) | 0 | 0 | ||
Total | 261,205,367,000,000 | 251,523,301,000,000 | ||
Derivative assets | ||||
Disclosure of financial assets [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | 2,026,079,000,000 | |||
Financial assets at fair value through profit or loss in accordance with IAS 39 | 3,115,775,000,000 | |||
Financial assets at FVTOCI | 0 | |||
AFS financial assets | 0 | |||
Financial assets at amortized cost | 0 | |||
Held-to-maturity financial assets | 0 | |||
Loans and receivables | 0 | |||
Derivative assets (Designated for hedging) | 35,503,000,000 | 59,272,000,000 | ||
Total | 2,061,582,000,000 | 3,175,047,000,000 | ||
Other financial assets | ||||
Disclosure of financial assets [Line Items] | ||||
Financial assets at fair value through profit or loss mandatorily measured at fair value | 0 | |||
Financial assets at fair value through profit or loss in accordance with IAS 39 | 0 | |||
Financial assets at FVTOCI | 0 | |||
AFS financial assets | 0 | |||
Financial assets at amortized cost | 7,486,649,000,000 | |||
Held-to-maturity financial assets | 0 | |||
Loans and receivables | 6,714,525,000,000 | |||
Derivative assets (Designated for hedging) | 0 | 0 | ||
Total | ₩ 7,486,649,000,000 | ₩ 6,714,525,000,000 | ||
[1] | The consolidated statements of financial position as of December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of financial position as of December 31, 2017 were not retrospectively restated in accordance with IFRS 9. |
Fair value of financial asset_7
Fair value of financial assets and liabilities_Financial liabilities by category (Details) | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | |||
Disclosure of financial liabilities [Line Items] | ||||||
Financial liabilities at FVTPL | [1] | ₩ 2,282,686,000,000 | $ 2,051,115,000 | ₩ 0 | ||
Financial assets at fair value through profit or loss in accordance with IAS 39 | [1] | 0 | 0 | 3,427,909,000,000 | ||
Financial liabilities at amortized cost | 315,120,128,000,000 | 291,313,599,000,000 | ||||
Derivative liabilities for hedging | 51,408,000,000 | $ 46,193,000 | 67,754,000,000 | |||
Total | 317,454,222,000,000 | 294,809,262,000,000 | ||||
Deposits due to customer | ||||||
Disclosure of financial liabilities [Line Items] | ||||||
Financial liabilities at FVTPL | 27,058,000,000 | |||||
Financial assets at fair value through profit or loss in accordance with IAS 39 | 25,964,000,000 | |||||
Financial liabilities at amortized cost | 248,690,939,000,000 | 234,695,084,000,000 | ||||
Derivative liabilities for hedging | 0 | |||||
Total | 248,717,997,000,000 | 234,721,048,000,000 | ||||
Borrowings | ||||||
Disclosure of financial liabilities [Line Items] | ||||||
Financial liabilities at FVTPL | 164,767,000,000 | |||||
Financial assets at fair value through profit or loss in accordance with IAS 39 | 160,057,000,000 | |||||
Financial liabilities at amortized cost | 16,202,986,000,000 | 14,784,706,000,000 | ||||
Derivative liabilities for hedging | 0 | |||||
Total | 16,367,753,000,000 | 14,944,763,000,000 | ||||
Debentures | ||||||
Disclosure of financial liabilities [Line Items] | ||||||
Financial liabilities at FVTPL | 0 | |||||
Financial assets at fair value through profit or loss in accordance with IAS 39 | 91,739,000,000 | |||||
Financial liabilities at amortized cost | 28,735,862,000,000 | 27,869,651,000,000 | ||||
Derivative liabilities for hedging | 0 | |||||
Total | 28,735,862,000,000 | 27,961,390,000,000 | ||||
Derivatives (for trading) | ||||||
Disclosure of financial liabilities [Line Items] | ||||||
Financial liabilities at FVTPL | 2,090,861,000,000 | |||||
Financial assets at fair value through profit or loss in accordance with IAS 39 | 3,150,149,000,000 | |||||
Financial liabilities at amortized cost | 0 | |||||
Derivative liabilities for hedging | 51,408,000,000 | 67,754,000,000 | ||||
Total | 2,142,269,000,000 | 3,217,903,000,000 | ||||
Other financial liabilities | ||||||
Disclosure of financial liabilities [Line Items] | ||||||
Financial liabilities at FVTPL | 0 | 0 | ||||
Financial liabilities at amortized cost | 21,490,341,000,000 | [2] | 13,964,158,000,000 | [3] | ||
Derivative liabilities for hedging | 0 | |||||
Total | 21,490,341,000,000 | [2] | 13,964,158,000,000 | [3] | ||
Provision for financial guarantee contract | ₩ 47,817,000,000 | [2] | ₩ 71,697,000,000 | [3] | ||
[1] | The consolidated statements of financial position as of December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of financial position as of December 31, 2017 were not retrospectively restated in accordance with IFRS 9. | |||||
[2] | Other financial liabilities include 47,817 million Won of financial guarantee liabilities measured at amortized cost included in provisions. | |||||
[3] | Other financial liabilities include 71,697 million Won of financial guarantee liabilities measured at amortized cost included in provisions. |
Income or expense from financia
Income or expense from financial instruments by category_Financial assets by category (Details) - KRW (₩) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Gains Losses On Financial Instruments [Line Items] | |||
Financial assets at FVTPL (IAS39) | ₩ 55,474,000,000 | ₩ 246,697,000,000 | |
AFS financial assets | 650,483,000,000 | 634,771,000,000 | |
HTM financial assets | 307,965,000,000 | 360,054,000,000 | |
Financial assets at FVTPL (IFRS9) | ₩ 405,938,000,000 | ||
Financial assets at FVTOCI | 303,117,000,000 | ||
Loans and receivables | 7,666,090,000,000 | 7,402,954,000,000 | |
Securities at amortized cost | 375,297,000,000 | ||
Loans and other financial assets at amortized cost | 8,954,430,000,000 | ||
Financial liabilities at FVTPL (IAS39) | (111,240,000,000) | (72,295,000,000) | |
Financial liabilities at amortized cost | (3,977,144,000,000) | (3,283,656,000,000) | (3,429,098,000,000) |
Financial liabilities at FVTPL (IFRS9) | 14,321,000,000 | ||
Derivative assets(liabilities)(Designated for hedging) | (672,000,000) | (109,447,000,000) | (98,850,000,000) |
Off-balance provisions | 89,459,000,000 | 77,140,000,000 | 56,687,000,000 |
Total | 6,164,746,000,000 | 5,252,809,000,000 | 5,100,920,000,000 |
Interest Income(expense) | |||
Gains Losses On Financial Instruments [Line Items] | |||
Financial assets at FVTPL (IAS39) | 48,615,000,000 | 59,019,000,000 | |
AFS financial assets | 239,030,000,000 | 339,518,000,000 | |
HTM financial assets | 307,965,000,000 | 360,054,000,000 | |
Financial assets at FVTPL (IFRS9) | 54,243,000,000 | ||
Financial assets at FVTOCI | 280,371,000,000 | ||
Loans and receivables | 7,948,069,000,000 | 7,747,013,000,000 | |
Securities at amortized cost | 376,788,000,000 | ||
Loans and other financial assets at amortized cost | 8,973,097,000,000 | ||
Financial liabilities at FVTPL (IAS39) | 0 | 0 | |
Financial liabilities at amortized cost | (4,030,384,000,000) | (3,323,029,000,000) | (3,486,060,000,000) |
Financial liabilities at FVTPL (IFRS9) | (3,164,000,000) | ||
Derivative assets(liabilities)(Designated for hedging) | 0 | 0 | 0 |
Off-balance provisions | 0 | 0 | 0 |
Total | 5,650,951,000,000 | 5,220,650,000,000 | 5,019,544,000,000 |
Fees and Commissions Income(expense) | |||
Gains Losses On Financial Instruments [Line Items] | |||
Financial assets at FVTPL (IAS39) | 0 | 0 | |
AFS financial assets | 80,041,000,000 | 70,910,000,000 | |
HTM financial assets | 0 | 0 | |
Financial assets at FVTPL (IFRS9) | 86,845,000,000 | ||
Financial assets at FVTOCI | 66,000,000 | ||
Loans and receivables | 384,025,000,000 | 346,730,000,000 | |
Securities at amortized cost | 0 | ||
Loans and other financial assets at amortized cost | 317,316,000,000 | ||
Financial liabilities at FVTPL (IAS39) | 0 | 0 | |
Financial liabilities at amortized cost | 27,742,000,000 | 0 | 0 |
Financial liabilities at FVTPL (IFRS9) | 0 | ||
Derivative assets(liabilities)(Designated for hedging) | 0 | 0 | 0 |
Off-balance provisions | 0 | 0 | 0 |
Total | 431,969,000,000 | 464,066,000,000 | 417,640,000,000 |
Provision(reversal) of credit loss | |||
Gains Losses On Financial Instruments [Line Items] | |||
Financial assets at FVTPL (IAS39) | 0 | 0 | |
AFS financial assets | (31,300,000,000) | (49,741,000,000) | |
HTM financial assets | 0 | 0 | |
Financial assets at FVTPL (IFRS9) | 0 | ||
Financial assets at FVTOCI | (2,027,000,000) | ||
Loans and receivables | (862,273,000,000) | (890,763,000,000) | |
Securities at amortized cost | (1,922,000,000) | ||
Loans and other financial assets at amortized cost | (415,084,000,000) | ||
Financial liabilities at FVTPL (IAS39) | 0 | 0 | |
Financial liabilities at amortized cost | 0 | 0 | 0 |
Financial liabilities at FVTPL (IFRS9) | 0 | ||
Derivative assets(liabilities)(Designated for hedging) | 0 | 0 | 0 |
Off-balance provisions | 89,459,000,000 | 77,140,000,000 | 56,687,000,000 |
Total | (329,574,000,000) | (816,433,000,000) | (883,817,000,000) |
Others | |||
Gains Losses On Financial Instruments [Line Items] | |||
Financial assets at FVTPL (IAS39) | 6,859,000,000 | 187,678,000,000 | |
AFS financial assets | 362,712,000,000 | 274,084,000,000 | |
HTM financial assets | 0 | 0 | |
Financial assets at FVTPL (IFRS9) | 264,850,000,000 | ||
Financial assets at FVTOCI | 24,707,000,000 | ||
Loans and receivables | 196,269,000,000 | 199,974,000,000 | |
Securities at amortized cost | 431,000,000 | ||
Loans and other financial assets at amortized cost | 79,101,000,000 | ||
Financial liabilities at FVTPL (IAS39) | (111,240,000,000) | (72,295,000,000) | |
Financial liabilities at amortized cost | 25,498,000,000 | 39,373,000,000 | 56,962,000,000 |
Financial liabilities at FVTPL (IFRS9) | 17,485,000,000 | ||
Derivative assets(liabilities)(Designated for hedging) | (672,000,000) | (109,447,000,000) | (98,850,000,000) |
Off-balance provisions | 0 | 0 | 0 |
Total | ₩ 411,400,000,000 | ₩ 384,526,000,000 | ₩ 547,553,000,000 |
Derecognition And Offset Of F_3
Derecognition And Offset Of Financial Instruments_Transferred financial assets that do not meet the condition of derecognition in their entirety (Details) - KRW (₩) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Assets transferred | ||
Disclosure of financial assets transferred during period which do not qualify for derecognition [Line Items] | ||
Nature of financial assets transferred during period which do not qualify for derecognition | The financial instruments that were disposed but the Group agreed to repurchase at the fixed amounts at the same time, so that they did not meet the conditions of derecognition | The financial instruments that were disposed but the Group agreed to repurchase at the fixed amounts at the same time, so that they did not meet the conditions of derecognition |
Assets that entity continues to recognise | ₩ 39,140,000,000 | ₩ 15,434,000,000 |
Financial assets at FVTOCI | ||
Disclosure of financial assets transferred during period which do not qualify for derecognition [Line Items] | ||
Nature of financial assets transferred during period which do not qualify for derecognition | The financial instruments that were disposed but the Group agreed to repurchase at the fixed amounts at the same time, so that they did not meet the conditions of derecognition | |
Assets that entity continues to recognise | ₩ 33,588,000,000 | ₩ 0 |
AFS financial assets | ||
Disclosure of financial assets transferred during period which do not qualify for derecognition [Line Items] | ||
Nature of financial assets transferred during period which do not qualify for derecognition | The financial instruments that were disposed but the Group agreed to repurchase at the fixed amounts at the same time, so that they did not meet the conditions of derecognition | |
Assets that entity continues to recognise | ₩ 0 | ₩ 9,998,000,000 |
Securities at amortized cost | ||
Disclosure of financial assets transferred during period which do not qualify for derecognition [Line Items] | ||
Nature of financial assets transferred during period which do not qualify for derecognition | The financial instruments that were disposed but the Group agreed to repurchase at the fixed amounts at the same time, so that they did not meet the conditions of derecognition | |
Assets that entity continues to recognise | ₩ 5,552,000,000 | ₩ 0 |
HTM financial assets | ||
Disclosure of financial assets transferred during period which do not qualify for derecognition [Line Items] | ||
Nature of financial assets transferred during period which do not qualify for derecognition | The financial instruments that were disposed but the Group agreed to repurchase at the fixed amounts at the same time, so that they did not meet the conditions of derecognition | |
Assets that entity continues to recognise | ₩ 0 | ₩ 5,436,000,000 |
Bonds sold under repurchase agreements | ||
Disclosure of financial assets transferred during period which do not qualify for derecognition [Line Items] | ||
Nature of financial assets transferred during period which do not qualify for derecognition | The financial instruments that were disposed but the Group agreed to repurchase at the fixed amounts at the same time, so that they did not meet the conditions of derecognition | The financial instruments that were disposed but the Group agreed to repurchase at the fixed amounts at the same time, so that they did not meet the conditions of derecognition |
Related liabilities | ₩ 42,907,000,000 | ₩ 3,173,000,000 |
Securities Loaned | ||
Disclosure of financial assets transferred during period which do not qualify for derecognition [Line Items] | ||
Assets that entity continues to recognise | ₩ 40,029,000,000 | ₩ 170,256,000,000 |
Korean financial institution's debt securities and others | ||
Disclosure of financial assets transferred during period which do not qualify for derecognition [Line Items] | ||
Nature of financial assets transferred during period which do not qualify for derecognition | When the Group loans its securities to outside parties, the legal ownerships of the securities are transferred; however, they should be returned at the end of lending period. Therefore, the Group does not derecognize them from the financial statements as it owns majority of risks and benefits from the securities continuously, regardless of the transfer of legal ownership. | When the Group loans its securities to outside parties, the legal ownerships of the securities are transferred; however, they should be returned at the end of lending period. Therefore, the Group does not derecognize them from the financial statements as it owns majority of risks and benefits from the securities continuously, regardless of the transfer of legal ownership. |
Assets that entity continues to recognise | ₩ 40,029,000,000 | ₩ 0 |
Loaned to | Korea Securities Finance Corporation | Korea Securities Finance Corporation and others |
Korean treasury and government bonds and others | ||
Disclosure of financial assets transferred during period which do not qualify for derecognition [Line Items] | ||
Nature of financial assets transferred during period which do not qualify for derecognition | When the Group loans its securities to outside parties, the legal ownerships of the securities are transferred; however, they should be returned at the end of lending period. Therefore, the Group does not derecognize them from the financial statements as it owns majority of risks and benefits from the securities continuously, regardless of the transfer of legal ownership. | |
Assets that entity continues to recognise | ₩ 0 | ₩ 170,256,000,000 |
Loaned to | Korea Securities Finance Corporation and others |
Derecognition and offset of f_4
Derecognition and offset of financial instruments_Financial assets subject to offset enforceable master netting agreements or similar agreements (Details) - KRW (₩) | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | ||||
Net financial assets subject to offsetting enforceable master netting arrangements or similar agreements in statement of financial position [Abstract] | |||||
Gross amounts of recognized financial assets | ₩ 47,901,623,000,000 | ₩ 62,669,493,000,000 | |||
Gross amounts of recognized financial assets set off | 29,699,412,000,000 | 38,987,064,000,000 | |||
Net amounts of financial assets presented | 18,202,211,000,000 | 23,682,429,000,000 | |||
Related amounts not set off in the consolidated statement of financial position | |||||
Netting agreements and others | 17,229,068,000,000 | 22,646,512,000,000 | |||
Cash collateral received | 66,857,000,000 | 174,415,000,000 | |||
Net amounts | 906,286,000,000 | 861,502,000,000 | |||
Derivative assets | |||||
Net financial assets subject to offsetting enforceable master netting arrangements or similar agreements in statement of financial position [Abstract] | |||||
Gross amounts of recognized financial assets | [1] | 1,908,542,000,000 | 2,992,476,000,000 | ||
Gross amounts of recognized financial assets set off | [1] | 0 | 1,710,000,000 | ||
Net amounts of financial assets presented | [1] | ₩ 1,908,542,000,000 | ₩ 2,990,766,000,000 | ||
Related amounts not set off in the consolidated statement of financial position | |||||
Description of rights of setoff associated with financial assets subject to enforceable master netting arrangement or similar agreement | The Group possesses the derivative assets, derivative liabilities, receivable spot exchange and payable spot exchange that do not satisfy the offsetting criteria of IAS 32, but provide the Group under the circumstances of the trading party's defaults, insolvency or bankruptcy, the right of offsetting. Item such as cash collateral cannot satisfy the offsetting criteria of IAS 32, but in accordance with the collateral arrangements and under the circumstances of the trading party's default, insolvency or bankruptcy, the net amount of derivative assets and derivative liabilities, receivable spot exchange and payable spot exchange can be offset. | The Group possesses the derivative assets, derivative liabilities, receivable spot exchange and payable spot exchange that do not satisfy the offsetting criteria of IAS 32, but provide the Group under the circumstances of the trading party's defaults, insolvency or bankruptcy, the right of offsetting. Item such as cash collateral cannot satisfy the offsetting criteria of IAS 32, but in accordance with the collateral arrangements and under the circumstances of the trading party's default, insolvency or bankruptcy, the net amount of derivative assets and derivative liabilities, receivable spot exchange and payable spot exchange can be offset. | |||
Receivable spot exchange | |||||
Net financial assets subject to offsetting enforceable master netting arrangements or similar agreements in statement of financial position [Abstract] | |||||
Gross amounts of recognized financial assets | ₩ 4,200,532,000,000 | [2] | ₩ 3,767,726,000,000 | [3] | |
Gross amounts of recognized financial assets set off | 0 | [2] | 0 | [3] | |
Net amounts of financial assets presented | ₩ 4,200,532,000,000 | [2] | ₩ 3,767,726,000,000 | [3] | |
Related amounts not set off in the consolidated statement of financial position | |||||
Description of rights of setoff associated with financial assets subject to enforceable master netting arrangement or similar agreement | The Group possesses the derivative assets, derivative liabilities, receivable spot exchange and payable spot exchange that do not satisfy the offsetting criteria of IAS 32, but provide the Group under the circumstances of the trading party's defaults, insolvency or bankruptcy, the right of offsetting. Item such as cash collateral cannot satisfy the offsetting criteria of IAS 32, but in accordance with the collateral arrangements and under the circumstances of the trading party's default, insolvency or bankruptcy, the net amount of derivative assets and derivative liabilities, receivable spot exchange and payable spot exchange can be offset. | The Group possesses the derivative assets, derivative liabilities, receivable spot exchange and payable spot exchange that do not satisfy the offsetting criteria of IAS 32, but provide the Group under the circumstances of the trading party's defaults, insolvency or bankruptcy, the right of offsetting. Item such as cash collateral cannot satisfy the offsetting criteria of IAS 32, but in accordance with the collateral arrangements and under the circumstances of the trading party's default, insolvency or bankruptcy, the net amount of derivative assets and derivative liabilities, receivable spot exchange and payable spot exchange can be offset. | |||
Derivative assets and Receivable spot exchange | |||||
Related amounts not set off in the consolidated statement of financial position | |||||
Netting agreements and others | ₩ 5,527,117,000,000 | ₩ 5,787,448,000,000 | |||
Cash collateral received | 66,857,000,000 | 174,415,000,000 | |||
Net amounts | ₩ 515,100,000,000 | ₩ 796,629,000,000 | |||
Description of rights of setoff associated with financial assets subject to enforceable master netting arrangement or similar agreement | The Group possesses the derivative assets, derivative liabilities, receivable spot exchange and payable spot exchange that do not satisfy the offsetting criteria of IAS 32, but provide the Group under the circumstances of the trading party's defaults, insolvency or bankruptcy, the right of offsetting. Item such as cash collateral cannot satisfy the offsetting criteria of IAS 32, but in accordance with the collateral arrangements and under the circumstances of the trading party's default, insolvency or bankruptcy, the net amount of derivative assets and derivative liabilities, receivable spot exchange and payable spot exchange can be offset. | The Group possesses the derivative assets, derivative liabilities, receivable spot exchange and payable spot exchange that do not satisfy the offsetting criteria of IAS 32, but provide the Group under the circumstances of the trading party's defaults, insolvency or bankruptcy, the right of offsetting. Item such as cash collateral cannot satisfy the offsetting criteria of IAS 32, but in accordance with the collateral arrangements and under the circumstances of the trading party's default, insolvency or bankruptcy, the net amount of derivative assets and derivative liabilities, receivable spot exchange and payable spot exchange can be offset. | |||
Bonds purchased under resale agreements | |||||
Net financial assets subject to offsetting enforceable master netting arrangements or similar agreements in statement of financial position [Abstract] | |||||
Gross amounts of recognized financial assets | ₩ 11,701,951,000,000 | [2] | ₩ 16,859,064,000,000 | [3] | |
Gross amounts of recognized financial assets set off | 0 | [2] | 0 | [3] | |
Net amounts of financial assets presented | 11,701,951,000,000 | [2] | 16,859,064,000,000 | [3] | |
Related amounts not set off in the consolidated statement of financial position | |||||
Netting agreements and others | 11,701,951,000,000 | [2] | 16,859,064,000,000 | [3] | |
Cash collateral received | 0 | [2] | 0 | [3] | |
Net amounts | ₩ 0 | [2] | ₩ 0 | [3] | |
Description of rights of setoff associated with financial assets subject to enforceable master netting arrangement or similar agreement | The Group has entered into a resale and repurchase agreement and accounted it as a collateralized borrowing. The Group has also entered into a resale and purchase agreement and accounted it as a secured loans. The resale and repurchase agreements can have the offsetting right only under the trading party's default, insolvency or bankruptcy, which do not satisfy the offsetting criteria of IAS 32. The Group recorded the collateralized borrowing in borrowings and the secured loans in loans and receivables. The Group under the repurchase agreements has offsetting right only upon the counterparty's default, insolvency or bankruptcy; thus, the repurchase agreements are applied by the TBMA/ISMA Global Master Repurchase Agreement, which does not satisfy the offsetting criteria of IAS 32. The Group disclosed bonds purchased under resale agreements as loan at amortized cost and other financial assets (loans and receivables in previous year) and bonds sold under repurchase agreements as borrowings. | The Group has entered into a resale and repurchase agreement and accounted it as a collateralized borrowing. The Group has also entered into a resale and purchase agreement and accounted it as a secured loans. The resale and repurchase agreements can have the offsetting right only under the trading party's default, insolvency or bankruptcy, which do not satisfy the offsetting criteria of IAS 32. The Group recorded the collateralized borrowing in borrowings and the secured loans in loans and receivables. The Group under the repurchase agreements has offsetting right only upon the counterparty's default, insolvency or bankruptcy; thus, the repurchase agreements are applied by the TBMA/ISMA Global Master Repurchase Agreement, which does not satisfy the offsetting criteria of IAS 32. The Group disclosed bonds purchased under resale agreements as loan at amortized cost and other financial assets (loans and receivables in previous year) and bonds sold under repurchase agreements as borrowings. | |||
Domestic exchanges settlement credits | |||||
Net financial assets subject to offsetting enforceable master netting arrangements or similar agreements in statement of financial position [Abstract] | |||||
Gross amounts of recognized financial assets | ₩ 30,090,598,000,000 | [2],[4] | ₩ 39,050,227,000,000 | [3],[5] | |
Gross amounts of recognized financial assets set off | 29,699,412,000,000 | [2],[4] | 38,985,354,000,000 | [3],[5] | |
Net amounts of financial assets presented | 391,186,000,000 | [2],[4] | 64,873,000,000 | [3],[5] | |
Related amounts not set off in the consolidated statement of financial position | |||||
Netting agreements and others | 0 | [2],[4] | 0 | [5] | |
Cash collateral received | 0 | [2],[4] | 0 | [5] | |
Net amounts | ₩ 391,186,000,000 | [2],[4] | ₩ 64,873,000,000 | [5] | |
Description of rights of setoff associated with financial assets subject to enforceable master netting arrangement or similar agreement | The Group possesses both the uncollected domestic exchange receivables and the unpaid domestic exchange payable, which satisfy offsetting criteria of IAS 32. Therefore, the total number of uncollected domestic exchange receivables or unpaid domestic exchange payable has been countervailed with part of unpaid domestic exchange payable or uncollected domestic exchange receivables and has been disclosed in loans at amortized cost and other financial assets (loans and receivables in previous year) or other financial liabilities of the Group's statements of financial position. | The Group possesses both the uncollected domestic exchange receivables and the unpaid domestic exchange payable, which satisfy offsetting criteria of IAS 32. Therefore, the total number of uncollected domestic exchange receivables or unpaid domestic exchange payable has been countervailed with part of unpaid domestic exchange payable or uncollected domestic exchange receivables and has been disclosed in loans at amortized cost and other financial assets (loans and receivables in previous year) or other financial liabilities of the Group's statements of financial position. | |||
[1] | The items include derivatives held for trading, derivatives designated for hedging. | ||||
[2] | The items are included in loan at amortized cost and other financial assets. | ||||
[3] | The items are included in loans and receivables. | ||||
[4] | Certain financial assets and liabilities are presented as net amounts. | ||||
[5] | Certain financial assets and liabilities are presented at as net amounts. |
Derecognition and offset of f_5
Derecognition and offset of financial instruments_Financial liabilities subject to offset enforceable master netting agreements or similar agreements (Details) - KRW (₩) | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | ||||
Net financial liabilities subject to offsetting enforceable master netting arrangements or similar agreements in statement of financial position [Abstract] | |||||
Gross amounts of recognized financial liabilities | ₩ 43,109,156,000,000 | ₩ 47,171,791,000,000 | |||
Gross amounts of recognized financial liabilities set off | 29,699,412,000,000 | 38,987,064,000,000 | |||
Net amounts of financial liabilities presented | 13,409,744,000,000 | 8,184,727,000,000 | |||
Related amounts not set off in the consolidated statement of financial position | |||||
Netting agreements and others | 11,814,592,000,000 | 7,163,786,000,000 | |||
Cash collateral pledged | 115,615,000,000 | 157,750,000,000 | |||
Net amounts | 1,479,537,000,000 | ₩ 863,191,000,000 | |||
Description of rights of setoff associated with financial liabilities subject to enforceable master netting arrangement or similar agreement | The Group has entered into a sale and repurchase agreement and accounted it as a collateralized borrowing. The Group has also entered into a purchase and resale agreement and accounted it as a secured loan. The repurchase and resale agreements can have the offsetting right only under the trading party's default, insolvency or bankruptcy, which do not satisfy the offsetting criteria of K-IFRS 1032. The Group recorded the collateralized borrowing in borrowings and the secured loans in loans and receivables. The Group under the repurchase agreements has offsetting right only upon the counterparty's default, insolvency or bankruptcy; thus, the repurchase agreements are applied by the TBMA/ISMA Global Master Repurchase Agreement, which does not satisfy the offsetting criteria of K-IFRS 1032. The Group disclosed bonds sold (purchased) under repurchase agreements as borrowings (loans and other financial assets at amortized cost (loans and receivables in previous year)). | ||||
Derivative liabilities | |||||
Net financial liabilities subject to offsetting enforceable master netting arrangements or similar agreements in statement of financial position [Abstract] | |||||
Gross amounts of recognized financial liabilities | [1] | 1,862,681,000,000 | ₩ 3,000,160,000,000 | ||
Gross amounts of recognized financial liabilities set off | [1] | 0 | 1,710,000,000 | ||
Net amounts of financial liabilities presented | [1] | ₩ 1,862,681,000,000 | ₩ 2,998,450,000,000 | ||
Related amounts not set off in the consolidated statement of financial position | |||||
Description of rights of setoff associated with financial liabilities subject to enforceable master netting arrangement or similar agreement | The Group possesses the derivative assets, derivative liabilities, receivable spot exchange and payable spot exchange that do not satisfy the offsetting criteria of IAS 32, but provide the Group under the circumstances of the trading party's defaults, insolvency or bankruptcy, the right of offsetting. Item such as cash collateral cannot satisfy the offsetting criteria of IAS 32, but in accordance with the collateral arrangements and under the circumstances of the trading party's default, insolvency or bankruptcy, the net amount of derivative assets and derivative liabilities, receivable spot exchange and payable spot exchange can be offset. | The Group possesses the derivative assets, derivative liabilities, receivable spot exchange and payable spot exchange that do not satisfy the offsetting criteria of IAS 32, but provide the Group under the circumstances of the trading party's defaults, insolvency or bankruptcy, the right of offsetting. Item such as cash collateral cannot satisfy the offsetting criteria of IAS 32, but in accordance with the collateral arrangements and under the circumstances of the trading party's default, insolvency or bankruptcy, the net amount of derivative assets and derivative liabilities, receivable spot exchange and payable spot exchange can be offset. | |||
Payable spot exchange | |||||
Net financial liabilities subject to offsetting enforceable master netting arrangements or similar agreements in statement of financial position [Abstract] | |||||
Gross amounts of recognized financial liabilities | [2] | ₩ 4,206,027,000,000 | ₩ 3,723,886,000,000 | ||
Gross amounts of recognized financial liabilities set off | [2] | 0 | 0 | ||
Net amounts of financial liabilities presented | [2] | ₩ 4,206,027,000,000 | ₩ 3,723,886,000,000 | ||
Related amounts not set off in the consolidated statement of financial position | |||||
Description of rights of setoff associated with financial liabilities subject to enforceable master netting arrangement or similar agreement | The Group possesses the derivative assets, derivative liabilities, receivable spot exchange and payable spot exchange that do not satisfy the offsetting criteria of IAS 32, but provide the Group under the circumstances of the trading party's defaults, insolvency or bankruptcy, the right of offsetting. Item such as cash collateral cannot satisfy the offsetting criteria of IAS 32, but in accordance with the collateral arrangements and under the circumstances of the trading party's default, insolvency or bankruptcy, the net amount of derivative assets and derivative liabilities, receivable spot exchange and payable spot exchange can be offset. | The Group possesses the derivative assets, derivative liabilities, receivable spot exchange and payable spot exchange that do not satisfy the offsetting criteria of IAS 32, but provide the Group under the circumstances of the trading party's defaults, insolvency or bankruptcy, the right of offsetting. Item such as cash collateral cannot satisfy the offsetting criteria of IAS 32, but in accordance with the collateral arrangements and under the circumstances of the trading party's default, insolvency or bankruptcy, the net amount of derivative assets and derivative liabilities, receivable spot exchange and payable spot exchange can be offset. | |||
Derivative liabilities, Equity-linked securities index in short position and Payable spot exchange | |||||
Related amounts not set off in the consolidated statement of financial position | |||||
Netting agreements and others | ₩ 5,540,147,000,000 | ₩ 5,866,682,000,000 | |||
Cash collateral pledged | 115,615,000,000 | 157,750,000,000 | |||
Net amounts | ₩ 577,713,000,000 | ₩ 857,961,000,000 | |||
Description of rights of setoff associated with financial liabilities subject to enforceable master netting arrangement or similar agreement | The Group possesses the derivative assets, derivative liabilities, receivable spot exchange and payable spot exchange that do not satisfy the offsetting criteria of IAS 32, but provide the Group under the circumstances of the trading party's defaults, insolvency or bankruptcy, the right of offsetting. Item such as cash collateral cannot satisfy the offsetting criteria of IAS 32, but in accordance with the collateral arrangements and under the circumstances of the trading party's default, insolvency or bankruptcy, the net amount of derivative assets and derivative liabilities, receivable spot exchange and payable spot exchange can be offset. | The Group possesses the derivative assets, derivative liabilities, receivable spot exchange and payable spot exchange that do not satisfy the offsetting criteria of IAS 32, but provide the Group under the circumstances of the trading party's defaults, insolvency or bankruptcy, the right of offsetting. Item such as cash collateral cannot satisfy the offsetting criteria of IAS 32, but in accordance with the collateral arrangements and under the circumstances of the trading party's default, insolvency or bankruptcy, the net amount of derivative assets and derivative liabilities, receivable spot exchange and payable spot exchange can be offset. | |||
Bonds sold under repurchase agreements | |||||
Net financial liabilities subject to offsetting enforceable master netting arrangements or similar agreements in statement of financial position [Abstract] | |||||
Gross amounts of recognized financial liabilities | [3] | ₩ 42,907,000,000 | ₩ 3,173,000,000 | ||
Gross amounts of recognized financial liabilities set off | [3] | 0 | 0 | ||
Net amounts of financial liabilities presented | [3] | 42,907,000,000 | 3,173,000,000 | ||
Related amounts not set off in the consolidated statement of financial position | |||||
Netting agreements and others | [3] | 42,907,000,000 | 3,173,000,000 | ||
Cash collateral pledged | [3] | 0 | 0 | ||
Net amounts | [3] | ₩ 0 | ₩ 0 | ||
Description of rights of setoff associated with financial liabilities subject to enforceable master netting arrangement or similar agreement | The Group has entered into a resale and repurchase agreement and accounted it as a collateralized borrowing. The Group has also entered into a resale and purchase agreement and accounted it as a secured loans. The resale and repurchase agreements can have the offsetting right only under the trading party's default, insolvency or bankruptcy, which do not satisfy the offsetting criteria of IAS 32. The Group recorded the collateralized borrowing in borrowings and the secured loans in loans and receivables. The Group under the repurchase agreements has offsetting right only upon the counterparty's default, insolvency or bankruptcy; thus, the repurchase agreements are applied by the TBMA/ISMA Global Master Repurchase Agreement, which does not satisfy the offsetting criteria of IAS 32. The Group disclosed bonds purchased under resale agreements as loan at amortized cost and other financial assets (loans and receivables in previous year) and bonds sold under repurchase agreements as borrowings. | The Group has entered into a resale and repurchase agreement and accounted it as a collateralized borrowing. The Group has also entered into a resale and purchase agreement and accounted it as a secured loans. The resale and repurchase agreements can have the offsetting right only under the trading party's default, insolvency or bankruptcy, which do not satisfy the offsetting criteria of IAS 32. The Group recorded the collateralized borrowing in borrowings and the secured loans in loans and receivables. The Group under the repurchase agreements has offsetting right only upon the counterparty's default, insolvency or bankruptcy; thus, the repurchase agreements are applied by the TBMA/ISMA Global Master Repurchase Agreement, which does not satisfy the offsetting criteria of IAS 32. The Group disclosed bonds purchased under resale agreements as loan at amortized cost and other financial assets (loans and receivables in previous year) and bonds sold under repurchase agreements as borrowings. | |||
Domestic exchanges settlement debits | |||||
Net financial liabilities subject to offsetting enforceable master netting arrangements or similar agreements in statement of financial position [Abstract] | |||||
Gross amounts of recognized financial liabilities | [2] | ₩ 36,832,774,000,000 | [4] | ₩ 40,284,515,000,000 | [5] |
Gross amounts of recognized financial liabilities set off | [2] | 29,699,412,000,000 | [4] | 38,985,354,000,000 | [5] |
Net amounts of financial liabilities presented | [2] | 7,133,362,000,000 | [4] | 1,299,161,000,000 | [5] |
Related amounts not set off in the consolidated statement of financial position | |||||
Netting agreements and others | [2] | 6,231,538,000,000 | [4] | 1,293,931,000,000 | [5] |
Cash collateral pledged | [2] | 0 | [4] | 0 | [5] |
Net amounts | [2] | ₩ 901,824,000,000 | [4] | ₩ 5,230,000,000 | [5] |
Description of rights of setoff associated with financial liabilities subject to enforceable master netting arrangement or similar agreement | The Group possesses both the uncollected domestic exchange receivables and the unpaid domestic exchange payable, which satisfy offsetting criteria of IAS 32. Therefore, the total number of uncollected domestic exchange receivables or unpaid domestic exchange payable has been countervailed with part of unpaid domestic exchange payable or uncollected domestic exchange receivables and has been disclosed in loans at amortized cost and other financial assets (loans and receivables in previous year) or other financial liabilities of the Group's statements of financial position. | The Group possesses both the uncollected domestic exchange receivables and the unpaid domestic exchange payable, which satisfy offsetting criteria of IAS 32. Therefore, the total number of uncollected domestic exchange receivables or unpaid domestic exchange payable has been countervailed with part of unpaid domestic exchange payable or uncollected domestic exchange receivables and has been disclosed in loans at amortized cost and other financial assets (loans and receivables in previous year) or other financial liabilities of the Group's statements of financial position. | |||
Equity-linked securities index in short position | |||||
Net financial liabilities subject to offsetting enforceable master netting arrangements or similar agreements in statement of financial position [Abstract] | |||||
Gross amounts of recognized financial liabilities | ₩ 164,767,000,000 | [6] | ₩ 160,057,000,000 | [7] | |
Gross amounts of recognized financial liabilities set off | 0 | [6] | 0 | [7] | |
Net amounts of financial liabilities presented | 164,767,000,000 | [6] | 160,057,000,000 | [7] | |
Related amounts not set off in the consolidated statement of financial position | |||||
Netting agreements and others | 0 | 0 | |||
Cash collateral pledged | 0 | 0 | |||
Net amounts | ₩ 0 | ₩ 0 | |||
Description of rights of setoff associated with financial liabilities subject to enforceable master netting arrangement or similar agreement | The Group possesses the derivative assets, derivative liabilities, receivable spot exchange and payable spot exchange that do not satisfy the offsetting criteria of IAS 32, but provide the Group under the circumstances of the trading party's defaults, insolvency or bankruptcy, the right of offsetting. Item such as cash collateral cannot satisfy the offsetting criteria of IAS 32, but in accordance with the collateral arrangements and under the circumstances of the trading party's default, insolvency or bankruptcy, the net amount of derivative assets and derivative liabilities, receivable spot exchange and payable spot exchange can be offset. | The Group possesses the derivative assets, derivative liabilities, receivable spot exchange and payable spot exchange that do not satisfy the offsetting criteria of IAS 32, but provide the Group under the circumstances of the trading party's defaults, insolvency or bankruptcy, the right of offsetting. Item such as cash collateral cannot satisfy the offsetting criteria of IAS 32, but in accordance with the collateral arrangements and under the circumstances of the trading party's default, insolvency or bankruptcy, the net amount of derivative assets and derivative liabilities, receivable spot exchange and payable spot exchange can be offset. | |||
[1] | The items include derivatives held for trading, derivatives designated for hedging. | ||||
[2] | The items are included in other financial liabilities. | ||||
[3] | The items are included in borrowings. | ||||
[4] | Certain financial assets and liabilities are presented as net amounts. | ||||
[5] | Certain financial assets and liabilities are presented at as net amounts. | ||||
[6] | The items are equity linked securities related to derivatives and are included in financial liabilities at FVTPL. | ||||
[7] | The items are equity linked securities related to derivatives and are included in financial liabilities at fair value through profit or loss mandatorily measured at fair value. |
Investment in joint ventures _3
Investment in joint ventures and associates_Investments in joint ventures and associates accounted for using the equity method of accounting (Details) - KRW (₩) | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Kumho Tire Co Inc | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Manufacturing | Manufacturing | |||
Proportion of ownership interest in associates and joint ventures | 14.20% | 14.20% | |||
Description of nature of entitys relationship with associate | [1] | The Group did not have significant influence over the entity due to the termination of the joint management procedures of the creditors' financial institution, and thus the entity was excluded from the investment in associates for the years ended December 31, 2018. | The Group did not have significant influence over the entity due to the termination of the joint management procedures of the creditors' financial institution, and thus the entity was excluded from the investment in associates for the years ended December 31, 2018. | ||
Woori Service Networks Co., Ltd. | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Freight & staffing services | Freight & staffing services | |||
Proportion of ownership interest in associates and joint ventures | 4.90% | 4.90% | 4.90% | ||
Financial statements as of June 30 2018 | Nov. 30, 2018 | ||||
Description of reason why using different reporting date or period for associate | [2] | The significant transactions and events between the end of reporting period of the associates and the Group have been properly incorporated. | |||
Description of nature of entitys relationship with associate | [3] | Most of the significant business transactions of associates are with the Group as of December 31, 2017 and 2018. | Most of the significant business transactions of associates are with the Group as of December 31, 2017 and 2018. | ||
Korea Credit Bureau Co., Ltd. | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Credit information | Credit information | |||
Proportion of ownership interest in associates and joint ventures | 9.90% | 9.90% | 9.90% | ||
Financial statements as of June 30 2018 | Dec. 31, 2018 | ||||
Description of nature of entitys relationship with associate | [4] | The Group can participate in decision-making body and exercise significant influence over associates through business partnerships. | The Group can participate in decision-making body and exercise significant influence over associates through business partnerships. | ||
Korea Finance Security Co., Ltd. | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Security service | Security service | |||
Proportion of ownership interest in associates and joint ventures | 15.00% | 15.00% | 15.00% | ||
Financial statements as of June 30 2018 | Nov. 30, 2018 | ||||
Description of reason why using different reporting date or period for associate | [2] | The significant transactions and events between the end of reporting period of the associates and the Group have been properly incorporated. | |||
Description of nature of entitys relationship with associate | [3] | Most of the significant business transactions of associates are with the Group as of December 31, 2017 and 2018. | Most of the significant business transactions of associates are with the Group as of December 31, 2017 and 2018. | ||
Chin Hung International Inc. | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Construction | Construction | |||
Proportion of ownership interest in associates and joint ventures | 25.30% | 25.30% | 28.40% | ||
Financial statements as of June 30 2018 | Nov. 30, 2018 | ||||
Description of reason why using different reporting date or period for associate | [2] | The significant transactions and events between the end of reporting period of the associates and the Group have been properly incorporated. | |||
Fair value of investments in associates for which there are quoted market prices | [5] | ₩ 2,065 | ₩ 1,915 | ||
Poonglim Industrial Co., Ltd. | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Construction | Construction | |||
Proportion of ownership interest in associates and joint ventures | 29.40% | 31.00% | |||
Description of reasons why presumption that interest of more than twenty per cent in associate is overcome | [6] | The Group lost significant influence over the entity due to the stock consolidation and the capital increase of the associate during the year ended December 31, 2018, and thus the entity was excluded from the list of associates. | The Group lost significant influence over the entity due to the stock consolidation and the capital increase of the associate during the year ended December 31, 2018, and thus the entity was excluded from the list of associates. | ||
STX Engine Co., Ltd. | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Manufacturing | Manufacturing | |||
Proportion of ownership interest in associates and joint ventures | 29.20% | 29.20% | |||
Description of reasons why presumption that interest of more than twenty per cent in associate is overcome | [7] | The entity was sold after it was transferred to assets held for sale and was excluded from the investment in associates. | The entity was sold after it was transferred to assets held for sale and was excluded from the investment in associates. | ||
STX Corporation | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Wholesale of non-specialized goods | Wholesale of non-specialized goods | |||
Proportion of ownership interest in associates and joint ventures | 19.70% | 9.50% | |||
Description of reasons why presumption that interest of more than twenty per cent in associate is overcome | [7] | The entity was sold after it was transferred to assets held for sale and was excluded from the investment in associates. | The entity was sold after it was transferred to assets held for sale and was excluded from the investment in associates. | ||
Saman Corporation | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | General construction Technology service | General construction Technology service | |||
Proportion of ownership interest in associates and joint ventures | 9.20% | 9.20% | 9.20% | ||
Financial statements as of June 30 2018 | Sep. 30, 2018 | ||||
Description of reason why using different reporting date or period for associate | [2] | The significant transactions and events between the end of reporting period of the associates and the Group have been properly incorporated. | |||
Description of nature of entitys relationship with associate | [4] | The Group can participate in decision-making body and exercise significant influence over associates through business partnerships | The Group can participate in decision-making body and exercise significant influence over associates through business partnerships | ||
Dongwoo C and C Co Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Construction | Construction | |||
Proportion of ownership interest in associates and joint ventures | 24.50% | 23.20% | |||
Description of nature of entitys relationship with associate | [8] | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | ||
SJCO Co Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Aggregate transportation and wholesale | Aggregate transportation and wholesale | |||
Proportion of ownership interest in associates and joint ventures | 26.50% | 26.50% | |||
Description of nature of entitys relationship with associate | [8] | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | ||
G2 Collection Co Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Wholesale and retail sales | Wholesale and retail sales | |||
Proportion of ownership interest in associates and joint ventures | 28.90% | 28.90% | |||
Description of nature of entitys relationship with associate | [8] | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | ||
The Base Enterprise Co Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Manufacturing | Manufacturing | |||
Proportion of ownership interest in associates and joint ventures | 48.40% | 48.40% | |||
Description of nature of entitys relationship with associate | [8] | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | ||
Kyesan engineering Co Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Construction | Construction | |||
Proportion of ownership interest in associates and joint ventures | 23.30% | 23.20% | |||
Description of nature of entitys relationship with associate | [8] | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | ||
Good software lab Co Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Service | Service | |||
Proportion of ownership interest in associates and joint ventures | 29.40% | 28.90% | |||
Description of nature of entitys relationship with associate | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | [8] | ||
Wongwang Co Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Wholesale and real estate | Wholesale and real estate | |||
Proportion of ownership interest in associates and joint ventures | 29.00% | 29.00% | |||
Description of nature of entitys relationship with associate | [8] | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | ||
Sejin construction Co Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Construction | Construction | |||
Proportion of ownership interest in associates and joint ventures | 29.60% | 29.60% | |||
Description of nature of entitys relationship with associate | [8] | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | ||
QTS shipping Co Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Complex transportation brokerage | Complex transportation brokerage | |||
Proportion of ownership interest in associates and joint ventures | 49.40% | 49.40% | |||
Description of nature of entitys relationship with associate | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | [8] | ||
DAEA SNC Co Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Wholesale and retail sales | Wholesale and retail sales | |||
Proportion of ownership interest in associates and joint ventures | 24.00% | 24.00% | |||
Description of nature of entitys relationship with associate | [8] | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | ||
ARES TECH Co Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Electronic component manufacturing | Electronic component manufacturing | |||
Proportion of ownership interest in associates and joint ventures | 23.40% | 23.40% | |||
Description of nature of entitys relationship with associate | [8] | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | ||
Force TEC C Co., Ltd. | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Manufacturing | Manufacturing | |||
Proportion of ownership interest in associates and joint ventures | 25.80% | ||||
Description of reasons why presumption that interest of more than twenty per cent in associate is overcome | [9] | Even though the Group's ownership ratio of the entity was more than 20%, the Group did not have significant influence over the entity because the entity was going through workout process under receivership and thus was excluded from the investment in associates. However, as the workout process was completed for the year ended December 31, 2018, it has been included in the investment in associates. | Even though the Group's ownership ratio of the entity was more than 20%, the Group did not have significant influence over the entity because the entity was going through workout process under receivership and thus was excluded from the investment in associates. However, as the workout process was completed for the year ended December 31, 2018, it has been included in the investment in associates. | ||
Description of nature of entitys relationship with associate | [8] | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | ||
Sinseong Trading Co Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Manufacturing | Manufacturing | |||
Proportion of ownership interest in associates and joint ventures | 27.20% | ||||
Description of reasons why presumption that interest of more than twenty per cent in associate is overcome | [9] | Even though the Group's ownership ratio of the entity was more than 20%, the Group did not have significant influence over the entity because the entity was going through workout process under receivership and thus was excluded from the investment in associates. However, as the workout process was completed for the year ended December 31, 2018, it has been included in the investment in associates. | Even though the Group's ownership ratio of the entity was more than 20%, the Group did not have significant influence over the entity because the entity was going through workout process under receivership and thus was excluded from the investment in associates. However, as the workout process was completed for the year ended December 31, 2018, it has been included in the investment in associates. | ||
Description of nature of entitys relationship with associate | [8] | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | ||
Reading Doctors Co Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Other services | Other services | |||
Proportion of ownership interest in associates and joint ventures | 35.40% | 35.40% | |||
Description of nature of entitys relationship with associate | [8] | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | ||
PREXCO Co Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Manufacturing | Manufacturing | |||
Proportion of ownership interest in associates and joint ventures | 28.10% | 28.10% | |||
Description of nature of entitys relationship with associate | [8] | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | ||
Hyunwoo International Co Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Manufacturing | Manufacturing | |||
Proportion of ownership interest in associates and joint ventures | 25.90% | ||||
Description of nature of entitys relationship with associate | [7] | The entity was excluded from the associate as the group sold its entire stake during the year ended December 31, 2018. | The entity was excluded from the associate as the group sold its entire stake during the year ended December 31, 2018. | ||
Jiwon Plating Co Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Plating | Plating | |||
Proportion of ownership interest in associates and joint ventures | 20.80% | 20.50% | |||
Description of nature of entitys relationship with associate | [8] | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | ||
Cultizm Korea LTD Co Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Wholesale and retail sales | Wholesale and retail sales | |||
Proportion of ownership interest in associates and joint ventures | 31.30% | 31.30% | |||
Description of nature of entitys relationship with associate | [8] | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | ||
Gil Co Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Manufacturing | Manufacturing | |||
Proportion of ownership interest in associates and joint ventures | 26.10% | 26.10% | |||
Description of nature of entitys relationship with associate | [8] | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | ||
Nk Eng Co Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Manufacturing | Manufacturing | |||
Proportion of ownership interest in associates and joint ventures | 23.10% | 23.10% | |||
Description of nature of entitys relationship with associate | [8] | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | ||
Youngdong Sea Food Co Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Processed sea food manufacturing | Processed sea food manufacturing | |||
Proportion of ownership interest in associates and joint ventures | 24.00% | ||||
Description of reasons why presumption that interest of more than twenty per cent in associate is overcome | [9] | Even though the Group's ownership ratio of the entity was more than 20%, the Group did not have significant influence over the entity because the entity was going through workout process under receivership and thus was excluded from the investment in associates. However, as the workout process was completed for the year ended December 31, 2018, it has been included in the investment in associates. | Even though the Group's ownership ratio of the entity was more than 20%, the Group did not have significant influence over the entity because the entity was going through workout process under receivership and thus was excluded from the investment in associates. However, as the workout process was completed for the year ended December 31, 2018, it has been included in the investment in associates. | ||
Description of nature of entitys relationship with associate | [8] | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | ||
Woori Growth Partnerships New Technology Private Equity Fund | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Other financial services | Other financial services | |||
Proportion of ownership interest in associates and joint ventures | 23.10% | 23.10% | 23.10% | ||
Financial statements as of June 30 2018 | Dec. 31, 2018 | ||||
2016KIF-IMM Woori Bank Technology Venture Fund | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Other financial services | Other financial services | |||
Proportion of ownership interest in associates and joint ventures | 20.00% | 20.00% | 20.00% | ||
Financial statements as of June 30 2018 | Dec. 31, 2018 | ||||
K BANK Co., Ltd. | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Finance | Finance | |||
Proportion of ownership interest in associates and joint ventures | 14.10% | 13.00% | 13.00% | ||
Financial statements as of June 30 2018 | Nov. 30, 2018 | ||||
Description of reason why using different reporting date or period for associate | [2] | The significant transactions and events between the end of reporting period of the associates and the Group have been properly incorporated. | |||
Description of nature of entitys relationship with associate | [4] | The Group can participate in decision-making body and exercise significant influence over associates through business partnerships. | The Group can participate in decision-making body and exercise significant influence over associates through business partnerships. | ||
Smart Private Equity Fund No.2 | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Other financial services | Other financial services | |||
Proportion of ownership interest in associates and joint ventures | 20.00% | 20.00% | |||
Financial statements as of June 30 2018 | Dec. 31, 2018 | ||||
Woori Bank-Company K Korea Movie Asset Fund | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Other financial services | Other financial services | |||
Proportion of ownership interest in associates and joint ventures | 25.00% | 25.00% | |||
Financial statements as of June 30 2018 | Dec. 31, 2018 | ||||
Well to Sea no.3 Private Equity Fund | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Finance | Finance | |||
Proportion of ownership interest in associates and joint ventures | 50.00% | 50.00% | |||
Financial statements as of June 30 2018 | Sep. 30, 2018 | ||||
Description of reason why using different reporting date or period for associate | [2] | The significant transactions and events between the end of reporting period of the associates and the Group have been properly incorporated. | |||
Description of nature of entitys relationship with associate | [10] | The Group has entered into a contract whereas the Group (or a third party designated by the Group) obtains a preemptive right to acquire the base assets (Aju Capital Co. Ltd.) of Well to Sea No. 3 Private Equity Fund, an affiliate of the Group, when the Fund disposes them. | The Group has entered into a contract whereas the Group (or a third party designated by the Group) obtains a preemptive right to acquire the base assets (Aju Capital Co. Ltd.) of Well to Sea No. 3 Private Equity Fund, an affiliate of the Group, when the Fund disposes them. | ||
Partner One Value Up Ist Private Equity Fund | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Other financial services | Other financial services | |||
Proportion of ownership interest in associates and joint ventures | 23.30% | ||||
Financial statements as of June 30 2018 | Dec. 31, 2018 | ||||
Description of nature of entitys relationship with associate | [11] | Due to capital contribution by the Group for the year ended December 31, 2018, the entities has been included in the investment in associates. | |||
IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Other financial services | Other financial services | |||
Proportion of ownership interest in associates and joint ventures | 20.00% | ||||
Financial statements as of June 30 2018 | Dec. 31, 2018 | ||||
Description of nature of entitys relationship with associate | [11] | Due to capital contribution by the Group for the year ended December 31, 2018, the entities has been included in the investment in associates. | |||
Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Other financial services | Other financial services | |||
Proportion of ownership interest in associates and joint ventures | 25.00% | ||||
Financial statements as of June 30 2018 | Dec. 31, 2018 | ||||
Description of nature of entitys relationship with associate | [11] | Due to capital contribution by the Group for the year ended December 31, 2018, the entities has been included in the investment in associates. | |||
Nomura-Rifa Private Real Estate Investment Trust No.17 | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Other financial services | Other financial services | |||
Proportion of ownership interest in associates and joint ventures | 19.40% | 25.00% | |||
Financial statements as of June 30 2018 | Dec. 31, 2018 | ||||
Description of nature of entitys relationship with associate | [4] | The Group can participate in decision-making body and exercise significant influence over associates through business partnerships. | The Group can participate in decision-making body and exercise significant influence over associates through business partnerships. | ||
Uri Hanhwa Eureka Private Equity Fund | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Main business | Other financial services | Other financial services | |||
Proportion of ownership interest in associates and joint ventures | 0.80% | ||||
Financial statements as of June 30 2018 | Dec. 31, 2018 | ||||
Description of nature of entitys relationship with associate | [4] | The Group can participate in decision-making body and exercise significant influence over associates through business partnerships. Due to capital contribution by the Group for the year ended December 31, 2018, the entities has been included in the investment in associates. | The Group can participate in decision-making body and exercise significant influence over associates through business partnerships. | ||
[1] | The Group did not have significant influence over the entity due to the termination of the joint management procedures of the creditors' financial institution, and thus the entity was excluded from the investment in associates for the years ended December 31, 2018 | ||||
[2] | The significant transactions and events between the end of reporting period of the associates and the Group have been properly incorporated. | ||||
[3] | Most of the significant business transactions of associates are with the Group as of December 31, 2017 and 2018. | ||||
[4] | The Group can participate in decision-making body and exercise significant influence over associates through business partnerships. | ||||
[5] | The investments in associates that have quoted market prices are Chin Hung International Inc. (current period: KRW 2,065, previous year: KRW 1,915). | ||||
[6] | The Group lost significant influence over the entity due to the stock consolidation and the capital increase of the associate during the year ended December 31, 2018, and thus the entity was excluded from the list of associates. | ||||
[7] | The entity was sold after it was transferred to assets held for sale and was excluded from the investment in associates. | ||||
[8] | The carrying values of investments in associates are nil as of December 31, 2017 and 2018. | ||||
[9] | Even though the Group's ownership ratio of the entity was more than 20%, the Group did not have significant influence over the entity because the entity was going through workout process under receivership and thus was excluded from the investment in associates. However, as the workout process was completed for the year ended December 31, 2018, it has been included in the investment in associates. | ||||
[10] | The Group has entered into a contract whereas the Group (or a third party designated by the Group) obtains a preemptive right to acquire the base assets (Aju Capital Co. Ltd.) of Well to Sea No. 3 Private Equity Fund, an affiliate of the Group, when the Fund disposes them. | ||||
[11] | Due to capital contribution by the Group for the year ended December 31, 2018, the entities has been included in the investment in associates. |
Investment in joint ventures _4
Investment in joint ventures and associates_Changes in the carrying value of investments in joint ventures and associates accounted for using the equity method of accounting (Details) $ in Thousands | 12 Months Ended | |||||||
Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | Dec. 31, 2016KRW (₩) | |||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Beginning | ₩ 417,051,000,000 | ₩ 439,012,000,000 | ₩ 643,861,000,000 | |||||
Acquisition cost | 621,299,000,000 | 592,148,000,000 | 780,911,000,000 | |||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | 3,196,000,000 | 13,389,000,000 | 3,857,000,000 | |||||
Acquisition | 48,272,000,000 | 192,760,000,000 | 48,702,000,000 | [1] | ||||
Disposal and others | (93,005,000,000) | [2] | (70,946,000,000) | (236,654,000,000) | [3] | |||
Dividends | (1,170,000,000) | (60,621,000,000) | (14,213,000,000) | |||||
Change in capital | (13,144,000,000) | 6,663,000,000 | (5,368,000,000) | |||||
Impairment | (177,000,000) | (114,903,000,000) | (1,173,000,000) | |||||
Others | 743,000,000 | 11,697,000,000 | [4] | |||||
Ending | 361,766,000,000 | $ 325,066 | 417,051,000,000 | 439,012,000,000 | ||||
Changes in investments in associates due to accounts transfer | (89,151,000,000) | (62,571,000,000) | ||||||
Changes in investments in associates due to debt-equity swap | 0 | 51,227,000,000 | ||||||
Woori Blackstone Korea Opportunity Private Equity Fund No.1 | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Beginning | 0 | 15,289,000,000 | 56,044,000,000 | |||||
Acquisition cost | 0 | 43,917,000,000 | ||||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | (4,617,000,000) | 10,093,000,000 | ||||||
Acquisition | 0 | [4] | 0 | [1] | ||||
Disposal and others | (7,369,000,000) | (37,036,000,000) | [3] | |||||
Dividends | (3,303,000,000) | (13,812,000,000) | ||||||
Change in capital | 0 | 0 | ||||||
Impairment | 0 | 0 | ||||||
Others | [4] | 0 | ||||||
Ending | 0 | 15,289,000,000 | ||||||
Kumho Tire Co Inc | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Beginning | 98,933,000,000 | 200,332,000,000 | 214,050,000,000 | |||||
Acquisition cost | 175,652,000,000 | 175,652,000,000 | 175,652,000,000 | |||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | (10,451,000,000) | (102,000,000) | (13,172,000,000) | |||||
Acquisition | 0 | 0 | [4] | 0 | [1] | |||
Disposal and others | (83,286,000,000) | [2] | 0 | 0 | [3] | |||
Dividends | 0 | 0 | 0 | |||||
Change in capital | (5,196,000,000) | 1,545,000,000 | (546,000,000) | |||||
Impairment | 0 | (102,842,000,000) | 0 | |||||
Others | 0 | 0 | [4] | |||||
Ending | 0 | 98,933,000,000 | 200,332,000,000 | |||||
Woori Service Networks Co., Ltd. | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Beginning | 158,000,000 | 145,000,000 | 139,000,000 | |||||
Acquisition cost | 108,000,000 | 108,000,000 | 108,000,000 | |||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | 1,000,000 | 21,000,000 | 18,000,000 | |||||
Acquisition | 0 | 0 | [4] | 0 | [1] | |||
Disposal and others | 0 | [2] | 0 | 0 | [3] | |||
Dividends | (2,000,000) | (8,000,000) | (12,000,000) | |||||
Change in capital | 0 | 0 | 0 | |||||
Impairment | 0 | 0 | 0 | |||||
Others | 0 | 0 | [4] | |||||
Ending | 157,000,000 | 158,000,000 | 145,000,000 | |||||
Korea Credit Bureau Co., Ltd. | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Beginning | 5,816,000,000 | 5,592,000,000 | 5,291,000,000 | |||||
Acquisition cost | 3,313,000,000 | 3,313,000,000 | 3,313,000,000 | |||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | 1,087,000,000 | 371,000,000 | 436,000,000 | |||||
Acquisition | 0 | 0 | [4] | 0 | [1] | |||
Disposal and others | 0 | [2] | 0 | 0 | [3] | |||
Dividends | (113,000,000) | (147,000,000) | (135,000,000) | |||||
Change in capital | 0 | 0 | 0 | |||||
Impairment | 0 | 0 | 0 | |||||
Others | 0 | 0 | [4] | |||||
Ending | 6,790,000,000 | 5,816,000,000 | 5,592,000,000 | |||||
Korea Finance Security Co., Ltd. | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Beginning | 3,519,000,000 | 3,376,000,000 | 3,711,000,000 | |||||
Acquisition cost | 3,267,000,000 | 3,266,000,000 | 3,266,000,000 | |||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | (10,000,000) | 197,000,000 | (281,000,000) | |||||
Acquisition | 0 | 0 | [4] | 0 | [1] | |||
Disposal and others | 0 | [2] | 0 | 0 | [3] | |||
Dividends | (54,000,000) | (54,000,000) | (54,000,000) | |||||
Change in capital | 1,000,000 | 0 | 0 | |||||
Impairment | 0 | 0 | 0 | |||||
Others | 0 | 0 | [4] | |||||
Ending | 3,456,000,000 | 3,519,000,000 | 3,376,000,000 | |||||
Chin Hung International Inc. | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Beginning | 45,101,000,000 | 43,032,000,000 | 43,936,000,000 | |||||
Acquisition cost | 130,779,000,000 | 89,725,000,000 | 89,725,000,000 | |||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | 1,206,000,000 | (14,375,000,000) | (996,000,000) | |||||
Acquisition | 0 | 41,053,000,000 | [4] | 0 | [1] | |||
Disposal and others | 0 | [2] | 0 | 0 | [3] | |||
Dividends | 0 | 0 | 0 | |||||
Change in capital | (1,725,000,000) | 1,535,000,000 | 92,000,000 | |||||
Impairment | 0 | 0 | 0 | |||||
Others | 159,000,000 | (26,144,000,000) | [4] | |||||
Ending | 44,741,000,000 | 45,101,000,000 | 43,032,000,000 | |||||
Poonglim Industrial Co., Ltd. | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Beginning | 0 | 0 | 5,313,000,000 | |||||
Acquisition cost | 13,916,000,000 | 13,916,000,000 | 13,916,000,000 | |||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | 0 | (6,733,000,000) | (2,378,000,000) | |||||
Acquisition | 0 | 0 | [4] | 0 | [1] | |||
Disposal and others | 0 | [2] | 0 | 0 | [3] | |||
Dividends | 0 | 0 | 0 | |||||
Change in capital | 0 | 0 | (2,935,000,000) | |||||
Impairment | 0 | 0 | ||||||
Others | 0 | 6,733,000,000 | [4] | |||||
Ending | 0 | 0 | 0 | |||||
STX Engine Co., Ltd. | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Beginning | 0 | 43,036,000,000 | 51,276,000,000 | |||||
Acquisition cost | 92,038,000,000 | 92,038,000,000 | ||||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | (1,010,000,000) | (6,665,000,000) | ||||||
Acquisition | 0 | [4] | 0 | [1] | ||||
Disposal and others | (46,217,000,000) | 0 | [3] | |||||
Dividends | 0 | 0 | ||||||
Change in capital | 4,191,000,000 | (1,575,000,000) | ||||||
Impairment | 0 | 0 | ||||||
Others | [4] | 0 | ||||||
Ending | 0 | 43,036,000,000 | ||||||
Samho Co., Ltd. | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Beginning | 0 | 19,729,000,000 | 14,325,000,000 | |||||
Acquisition cost | 7,492,000,000 | 7,492,000,000 | ||||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | 2,021,000,000 | 5,392,000,000 | ||||||
Acquisition | 0 | [4] | 0 | [1] | ||||
Disposal and others | (16,354,000,000) | 0 | [3] | |||||
Dividends | 0 | 0 | ||||||
Change in capital | (73,000,000) | 12,000,000 | ||||||
Impairment | (5,323,000,000) | 0 | ||||||
Others | [4] | 0 | ||||||
Ending | 0 | 19,729,000,000 | ||||||
STX Corporation | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Beginning | 6,947,000,000 | 0 | 4,251,000,000 | |||||
Acquisition cost | 50,760,000,000 | 42,215,000,000 | 42,215,000,000 | |||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | (816,000,000) | (29,788,000,000) | (4,222,000,000) | |||||
Acquisition | 0 | 8,546,000,000 | [4] | 0 | [1] | |||
Disposal and others | (5,865,000,000) | [2] | 0 | 0 | [3] | |||
Dividends | 0 | 0 | 0 | |||||
Change in capital | (266,000,000) | 417,000,000 | (29,000,000) | |||||
Impairment | 0 | 0 | ||||||
Others | 0 | 27,772,000,000 | [4] | |||||
Ending | 0 | 6,947,000,000 | 0 | |||||
Osung LST Co., Ltd. | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Beginning | 0 | 10,985,000,000 | ||||||
Acquisition cost | 15,405,000,000 | |||||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | (2,903,000,000) | |||||||
Acquisition | [1] | 0 | ||||||
Disposal and others | [3] | (6,909,000,000) | ||||||
Dividends | 0 | |||||||
Change in capital | 0 | |||||||
Impairment | (1,173,000,000) | |||||||
Ending | 0 | |||||||
Saman Corporation | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Beginning | 1,254,000,000 | 8,699,000,000 | 8,521,000,000 | |||||
Acquisition cost | 8,521,000,000 | 8,521,000,000 | 8,521,000,000 | |||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | (98,000,000) | (733,000,000) | 252,000,000 | |||||
Acquisition | 0 | 0 | [4] | 0 | [1] | |||
Disposal and others | 0 | [2] | 0 | 0 | [3] | |||
Dividends | 0 | 0 | 0 | |||||
Change in capital | 35,000,000 | 26,000,000 | (74,000,000) | |||||
Impairment | (177,000,000) | (6,738,000,000) | 0 | |||||
Others | 0 | 0 | [4] | |||||
Ending | 1,014,000,000 | 1,254,000,000 | 8,699,000,000 | |||||
Woori Growth Partnerships New Technology Private Equity Fund | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Beginning | 27,611,000,000 | 13,118,000,000 | 0 | |||||
Acquisition cost | 25,847,000,000 | 13,602,000,000 | 13,602,000,000 | |||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | 950,000,000 | (582,000,000) | (640,000,000) | |||||
Acquisition | 360,000,000 | 15,729,000,000 | [4] | 13,602,000,000 | [1] | |||
Disposal and others | (3,346,000,000) | [2] | (498,000,000) | 0 | [3] | |||
Dividends | (484,000,000) | 0 | 0 | |||||
Change in capital | 0 | (156,000,000) | 156,000,000 | |||||
Impairment | 0 | 0 | 0 | |||||
Others | 0 | 0 | [4] | |||||
Ending | 25,091,000,000 | 27,611,000,000 | 13,118,000,000 | |||||
2016KIF-IMM Woori Bank Technology Venture Fund | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Beginning | 6,840,000,000 | 1,800,000,000 | 0 | |||||
Acquisition cost | 15,000,000,000 | 1,800,000,000 | 1,800,000,000 | |||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | 0 | 0 | 0 | |||||
Acquisition | 8,160,000,000 | 5,040,000,000 | [4] | 1,800,000,000 | [1] | |||
Disposal and others | 0 | [2] | 0 | 0 | [3] | |||
Dividends | 0 | 0 | 0 | |||||
Change in capital | 300,000,000 | 0 | 0 | |||||
Impairment | 0 | 0 | 0 | |||||
Others | 0 | 0 | [4] | |||||
Ending | 15,300,000,000 | 6,840,000,000 | 1,800,000,000 | |||||
K BANK Co., Ltd. | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Beginning | 31,735,000,000 | 30,442,000,000 | 0 | |||||
Acquisition cost | 67,343,000,000 | 32,500,000,000 | 32,500,000,000 | |||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | (10,705,000,000) | (11,381,000,000) | (1,589,000,000) | |||||
Acquisition | 21,951,000,000 | 12,892,000,000 | [4] | 32,500,000,000 | [1] | |||
Disposal and others | 0 | [2] | 0 | 0 | [3] | |||
Dividends | 0 | 0 | 0 | |||||
Change in capital | 144,000,000 | (245,000,000) | (469,000,000) | |||||
Impairment | 0 | 0 | 0 | |||||
Others | 584,000,000 | 27,000,000 | [4] | |||||
Ending | 43,709,000,000 | 31,735,000,000 | 30,442,000,000 | |||||
Smart Private Equity Fund No.2 | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Beginning | 2,932,000,000 | |||||||
Acquisition cost | 3,000,000,000 | 3,000,000,000 | ||||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | (42,000,000) | (68,000,000) | ||||||
Acquisition | 0 | 3,000,000,000 | [4] | |||||
Disposal and others | 0 | [2] | 0 | |||||
Dividends | 0 | 0 | ||||||
Change in capital | 0 | 0 | ||||||
Impairment | 0 | 0 | ||||||
Others | 0 | 0 | [4] | |||||
Ending | 2,890,000,000 | 2,932,000,000 | ||||||
Woori Bank-Company K Korea Movie Asset Fund | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Beginning | 2,957,000,000 | |||||||
Acquisition cost | 3,000,000,000 | 1,500,000,000 | ||||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | (257,000,000) | (43,000,000) | ||||||
Acquisition | 0 | 3,000,000,000 | [4] | |||||
Disposal and others | 0 | [2] | 0 | |||||
Dividends | 0 | 0 | ||||||
Change in capital | 0 | 0 | ||||||
Impairment | 0 | 0 | ||||||
Others | 0 | 0 | [4] | |||||
Ending | 2,700,000,000 | 2,957,000,000 | ||||||
Well to Sea no.3 Private Equity Fund | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Beginning | 182,309,000,000 | |||||||
Acquisition cost | 101,992,000,000 | 102,500,000,000 | ||||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | 22,546,000,000 | 80,894,000,000 | ||||||
Acquisition | 0 | 102,500,000,000 | [4] | |||||
Disposal and others | (508,000,000) | [2] | (508,000,000) | |||||
Dividends | (517,000,000) | 0 | ||||||
Change in capital | (6,437,000,000) | (577,000,000) | ||||||
Impairment | 0 | 0 | ||||||
Others | 0 | 0 | [4] | |||||
Ending | 197,393,000,000 | 182,309,000,000 | ||||||
Partner One Value Up Ist Private Equity Fund | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Acquisition cost | 10,000,000,000 | |||||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | (52,000,000) | |||||||
Acquisition | 10,000,000,000 | |||||||
Disposal and others | [2] | 0 | ||||||
Dividends | 0 | |||||||
Change in capital | 0 | |||||||
Impairment | 0 | |||||||
Others | 0 | |||||||
Ending | 9,948,000,000 | |||||||
IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Acquisition cost | 4,426,000,000 | |||||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | 0 | |||||||
Acquisition | 4,426,000,000 | |||||||
Disposal and others | [2] | 0 | ||||||
Dividends | 0 | |||||||
Change in capital | 0 | |||||||
Impairment | 0 | |||||||
Others | 0 | |||||||
Ending | 4,426,000,000 | |||||||
Woori Renaissance Holdings | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Beginning | 0 | 54,422,000,000 | 37,121,000,000 | |||||
Acquisition cost | 0 | 63,000,000,000 | ||||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | (622,000,000) | 17,303,000,000 | ||||||
Acquisition | 0 | 0 | [1] | |||||
Disposal and others | 0 | 0 | [3] | |||||
Dividends | (57,109,000,000) | (2,000,000) | ||||||
Change in capital | 0 | 0 | ||||||
Impairment | 0 | 0 | ||||||
Others | [4] | 3,309,000,000 | ||||||
Ending | 0 | 54,422,000,000 | ||||||
Woori Columbus First Private Equity Fund | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Beginning | 0 | 1,306,000,000 | ||||||
Acquisition cost | 1,200,000,000 | |||||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | (43,000,000) | |||||||
Acquisition | [1] | 0 | ||||||
Disposal and others | [3] | (1,065,000,000) | ||||||
Dividends | (198,000,000) | |||||||
Change in capital | 0 | |||||||
Others | 0 | |||||||
Ending | 0 | |||||||
Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Acquisition cost | 3,025,000,000 | |||||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | 0 | |||||||
Acquisition | 3,025,000,000 | |||||||
Disposal and others | [2] | 0 | ||||||
Dividends | 0 | |||||||
Change in capital | 0 | |||||||
Impairment | 0 | |||||||
Others | 0 | |||||||
Ending | 3,025,000,000 | |||||||
Nomura-Rifa Private Real Estate Investment Trust No.17 | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Beginning | 939,000,000 | |||||||
Acquisition cost | 1,000,000,000 | 1,000,000,000 | ||||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | (152,000,000) | (61,000,000) | ||||||
Acquisition | 0 | 1,000,000,000 | ||||||
Disposal and others | 0 | [2] | 0 | |||||
Dividends | 0 | 0 | ||||||
Change in capital | 0 | 0 | ||||||
Impairment | 0 | 0 | ||||||
Others | 0 | 0 | [4] | |||||
Ending | 787,000,000 | 939,000,000 | ||||||
Uri Hanhwa Eureka Private Equity Fund | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Acquisition cost | 350,000,000 | |||||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | (11,000,000) | |||||||
Acquisition | 350,000,000 | |||||||
Disposal and others | [2] | 0 | ||||||
Dividends | 0 | |||||||
Change in capital | 0 | |||||||
Impairment | 0 | |||||||
Others | 0 | |||||||
Ending | ₩ 339,000,000 | |||||||
United PF First corporate financial stability | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Beginning | 0 | 187,592,000,000 | ||||||
Acquisition cost | 172,441,000,000 | |||||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | 3,265,000,000 | |||||||
Acquisition | [1] | 0 | ||||||
Disposal and others | [3] | (190,857,000,000) | ||||||
Dividends | 0 | |||||||
Change in capital | 0 | |||||||
Ending | 0 | |||||||
K-Growth crowd 2step fund | ||||||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||||||
Beginning | ₩ 0 | 0 | ||||||
Acquisition cost | 800,000,000 | |||||||
Changes in investments in associates and joint ventures [Abstract] | ||||||||
Share of profits(losses) | (13,000,000) | |||||||
Acquisition | [1] | 800,000,000 | ||||||
Disposal and others | [3] | (787,000,000) | ||||||
Dividends | 0 | |||||||
Change in capital | 0 | |||||||
Ending | ₩ 0 | |||||||
[1] | AFS financial assets decreased by 5,421 million Won due to transfers to investments in associates during the year ended December 31, 2016. | |||||||
[2] | Investments in joint ventures and associates decreased by 83,286 million Won through transfers to financial assets at FVTOCI (IFRS 9) which occurred during the year ended December 31, 2018. | |||||||
[3] | The transfers from investments in associates to AFS financial assets amounted to 155,220 million Won and the transfers from investments in associates to assets held for sale amounted to 6,909 million Won during the year ended December 31, 2016. | |||||||
[4] | Changes in investments in joint ventures and associates due to debt-equity swap is 51,227 million Won. |
Investment In Joint Ventures _5
Investment In Joint Ventures And Associates_Financial information relating to investments in joint ventures and associates accounted for using the equity method of accounting (Details) - KRW (₩) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Kumho Tire Co Inc | ||
Equity method investment summarized financial information [Line Items] | ||
Assets | ₩ 5,105,107,000,000 | |
Liabilities | 3,928,327,000,000 | |
Operating revenue | 2,136,569,000,000 | |
Net income(loss) | (61,748,000,000) | |
Woori Service Networks Co., Ltd. | ||
Equity method investment summarized financial information [Line Items] | ||
Assets | ₩ 5,066,000,000 | 4,982,000,000 |
Liabilities | 1,886,000,000 | 1,780,000,000 |
Operating revenue | 15,803,000,000 | 14,887,000,000 |
Net income(loss) | 819,000,000 | 1,003,000,000 |
Korea Credit Bureau Co., Ltd. | ||
Equity method investment summarized financial information [Line Items] | ||
Assets | 88,797,000,000 | 75,504,000,000 |
Liabilities | 22,788,000,000 | 19,323,000,000 |
Operating revenue | 78,018,000,000 | 68,750,000,000 |
Net income(loss) | 9,901,000,000 | 3,580,000,000 |
Korea Finance Security Co., Ltd. | ||
Equity method investment summarized financial information [Line Items] | ||
Assets | 35,155,000,000 | 33,915,000,000 |
Liabilities | 12,114,000,000 | 10,461,000,000 |
Operating revenue | 60,706,000,000 | 55,610,000,000 |
Net income(loss) | 17,000,000 | 1,071,000,000 |
Chin Hung International Inc. | ||
Equity method investment summarized financial information [Line Items] | ||
Assets | 412,205,000,000 | 341,284,000,000 |
Liabilities | 332,268,000,000 | 259,454,000,000 |
Operating revenue | 606,192,000,000 | 513,285,000,000 |
Net income(loss) | 6,402,000,000 | 28,698,000,000 |
Poonglim Industrial Co., Ltd. | ||
Equity method investment summarized financial information [Line Items] | ||
Assets | 241,063,000,000 | |
Liabilities | 309,925,000,000 | |
Operating revenue | 107,360,000,000 | |
Net income(loss) | (29,812,000,000) | |
STX Corporation | ||
Equity method investment summarized financial information [Line Items] | ||
Assets | 595,348,000,000 | |
Liabilities | 543,458,000,000 | |
Operating revenue | 1,371,272,000,000 | |
Net income(loss) | 342,869,000,000 | |
Saman Corporation | ||
Equity method investment summarized financial information [Line Items] | ||
Assets | 97,720,000,000 | 98,435,000,000 |
Liabilities | 69,915,000,000 | 69,929,000,000 |
Operating revenue | 75,825,000,000 | 76,135,000,000 |
Net income(loss) | (869,000,000) | (6,096,000,000) |
Woori Growth Partnerships New Technology Private Equity Fund | ||
Equity method investment summarized financial information [Line Items] | ||
Assets | 109,167,000,000 | 120,133,000,000 |
Liabilities | 440,000,000 | 485,000,000 |
Operating revenue | 5,943,000,000 | 1,024,000,000 |
Net income(loss) | 4,117,000,000 | (3,199,000,000) |
2016KIF-IMM Woori Bank Technology Venture Fund | ||
Equity method investment summarized financial information [Line Items] | ||
Assets | 73,231,000,000 | 32,815,000,000 |
Liabilities | 12,000,000 | 380,000,000 |
Operating revenue | 16,000,000 | 6,000,000 |
Net income(loss) | (1,510,000,000) | (1,515,000,000) |
K BANK Co., Ltd. | ||
Equity method investment summarized financial information [Line Items] | ||
Assets | 2,024,856,000,000 | 1,244,270,000,000 |
Liabilities | 1,807,502,000,000 | 1,001,121,000,000 |
Operating revenue | 60,039,000,000 | 19,231,000,000 |
Net income(loss) | (69,256,000,000) | (74,403,000,000) |
Smart Private Equity Fund No.2 | ||
Equity method investment summarized financial information [Line Items] | ||
Assets | 14,502,000,000 | 14,711,000,000 |
Liabilities | 51,000,000 | 51,000,000 |
Operating revenue | 1,000,000 | 1,000,000 |
Net income(loss) | (209,000,000) | (340,000,000) |
Woori Bank-Company K Korea Movie Asset Fund | ||
Equity method investment summarized financial information [Line Items] | ||
Assets | 10,805,000,000 | 11,830,000,000 |
Liabilities | 5,000,000 | 2,000,000 |
Operating revenue | 1,663,000,000 | 16,000,000 |
Net income(loss) | (299,000,000) | (172,000,000) |
Well to Sea no.3 Private Equity Fund | ||
Equity method investment summarized financial information [Line Items] | ||
Assets | 5,968,591,000,000 | 5,068,424,000,000 |
Liabilities | 5,395,307,000,000 | 4,534,957,000,000 |
Operating revenue | 429,742,000,000 | 131,488,000,000 |
Net income(loss) | 39,711,000,000 | 162,743,000,000 |
Partner One Value Up Ist Private Equity Fund | ||
Equity method investment summarized financial information [Line Items] | ||
Assets | 42,776,000,000 | |
Liabilities | 0 | |
Operating revenue | 326,000,000 | |
Net income(loss) | (224,000,000) | |
IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership | ||
Equity method investment summarized financial information [Line Items] | ||
Assets | 21,200,000,000 | |
Liabilities | 757,000,000 | |
Operating revenue | 390,000,000 | |
Net income(loss) | (1,268,000,000) | |
Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund | ||
Equity method investment summarized financial information [Line Items] | ||
Assets | 12,014,000,000 | |
Liabilities | 105,000,000 | |
Operating revenue | 3,000,000 | |
Net income(loss) | (191,000,000) | |
Nomura-Rifa Private Real Estate Investment Trust No.17 | ||
Equity method investment summarized financial information [Line Items] | ||
Assets | 20,197,000,000 | 20,265,000,000 |
Liabilities | 16,178,000,000 | 16,507,000,000 |
Operating revenue | 10,000,000 | 62,000,000 |
Net income(loss) | (228,000,000) | ₩ (242,000,000) |
Uri Hanhwa Eureka Private Equity Fund | ||
Equity method investment summarized financial information [Line Items] | ||
Assets | 42,332,000,000 | |
Liabilities | 181,000,000 | |
Operating revenue | 1,000,000 | |
Net income(loss) | ₩ (1,349,000,000) |
Investment in joint ventures _6
Investment in joint ventures and associates_Entities not applied for equity method of accounting with ownership ratio exceeding twenty percent (Details) - shares | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | |||
Orient Shipyard Co Ltd | ||||
Disclosure of entities not applied for equity method of accounting with ownership ratio exceeding twenty percent [Line Items] | ||||
Number of shares owned | 464,812 | 465,050 | ||
Ownership | 21.40% | 21.40% | ||
Description of reasons why presumption that interest of more than twenty per cent in associate is overcome | [1] | Even though the Group's ownership interest of the entity is more than 20%, the Group does not have significant influence over the entity since it is going through work-out process under receivership, thus it is excluded from the investment in associates. | Even though the Group's ownership interest of the entity is more than 20%, the Group does not have significant influence over the entity since it is going through work-out process under receivership, thus it is excluded from the investment in associates. | |
Saenuel Co Ltd | ||||
Disclosure of entities not applied for equity method of accounting with ownership ratio exceeding twenty percent [Line Items] | ||||
Number of shares owned | 3,531 | 3,531 | ||
Ownership | 37.40% | 37.40% | ||
Description of reasons why presumption that interest of more than twenty per cent in associate is overcome | [1] | Even though the Group's ownership interest of the entity is more than 20%, the Group does not have significant influence over the entity since it is going through work-out process under receivership, thus it is excluded from the investment in associates. | Even though the Group's ownership interest of the entity is more than 20%, the Group does not have significant influence over the entity since it is going through work-out process under receivership, thus it is excluded from the investment in associates. | |
E mirae Tech Co Ltd | ||||
Disclosure of entities not applied for equity method of accounting with ownership ratio exceeding twenty percent [Line Items] | ||||
Number of shares owned | 7,696 | 7,696 | ||
Ownership | 41.00% | 41.00% | ||
Description of reasons why presumption that interest of more than twenty per cent in associate is overcome | [1] | Even though the Group's ownership interest of the entity is more than 20%, the Group does not have significant influence over the entity since it is going through work-out process under receivership, thus it is excluded from the investment in associates. | Even though the Group's ownership interest of the entity is more than 20%, the Group does not have significant influence over the entity since it is going through work-out process under receivership, thus it is excluded from the investment in associates. | |
Jehin Trading Co Ltd | ||||
Disclosure of entities not applied for equity method of accounting with ownership ratio exceeding twenty percent [Line Items] | ||||
Number of shares owned | 81,610 | 81,610 | ||
Ownership | 27.30% | 27.30% | ||
Description of reasons why presumption that interest of more than twenty per cent in associate is overcome | [1] | Even though the Group's ownership interest of the entity is more than 20%, the Group does not have significant influence over the entity since it is going through work-out process under receivership, thus it is excluded from the investment in associates. | Even though the Group's ownership interest of the entity is more than 20%, the Group does not have significant influence over the entity since it is going through work-out process under receivership, thus it is excluded from the investment in associates. | |
The season Co Ltd | ||||
Disclosure of entities not applied for equity method of accounting with ownership ratio exceeding twenty percent [Line Items] | ||||
Number of shares owned | 18,187 | 18,187 | ||
Ownership | 30.10% | 30.10% | ||
Description of reasons why presumption that interest of more than twenty per cent in associate is overcome | [1] | Even though the Group's ownership interest of the entity is more than 20%, the Group does not have significant influence over the entity since it is going through work-out process under receivership, thus it is excluded from the investment in associates. | Even though the Group's ownership interest of the entity is more than 20%, the Group does not have significant influence over the entity since it is going through work-out process under receivership, thus it is excluded from the investment in associates. | |
Yuil PESC Co Ltd | ||||
Disclosure of entities not applied for equity method of accounting with ownership ratio exceeding twenty percent [Line Items] | ||||
Number of shares owned | 8,642 | 8,642 | ||
Ownership | 24.00% | 24.00% | ||
Description of reasons why presumption that interest of more than twenty per cent in associate is overcome | [1] | Even though the Group's ownership interest of the entity is more than 20%, the Group does not have significant influence over the entity since it is going through work-out process under receivership, thus it is excluded from the investment in associates. | Even though the Group's ownership interest of the entity is more than 20%, the Group does not have significant influence over the entity since it is going through work-out process under receivership, thus it is excluded from the investment in associates. | |
Youngdong Sea Food Co Ltd | ||||
Disclosure of entities not applied for equity method of accounting with ownership ratio exceeding twenty percent [Line Items] | ||||
Number of shares owned | 12,106 | |||
Ownership | 24.00% | |||
Description of reasons why presumption that interest of more than twenty per cent in associate is overcome | [1] | Even though the Group's ownership ratio of the entity was more than 20%, the Group did not have significant influence over the entity because the entity was going through workout process under receivership and thus was excluded from the investment in associates. However, as the workout process was completed for the year ended December 31, 2018, it has been included in the investment in associates. | ||
Sinseong Trading Co Ltd | ||||
Disclosure of entities not applied for equity method of accounting with ownership ratio exceeding twenty percent [Line Items] | ||||
Number of shares owned | 2,584 | |||
Ownership | 27.20% | |||
Description of reasons why presumption that interest of more than twenty per cent in associate is overcome | [1] | Even though the Group's ownership ratio of the entity was more than 20%, the Group did not have significant influence over the entity because the entity was going through workout process under receivership and thus was excluded from the investment in associates. However, as the workout process was completed for the year ended December 31, 2018, it has been included in the investment in associates. | ||
CL Tech Co Ltd | ||||
Disclosure of entities not applied for equity method of accounting with ownership ratio exceeding twenty percent [Line Items] | ||||
Number of shares owned | 13,759 | 13,759 | ||
Ownership | 38.60% | 38.60% | ||
Description of reasons why presumption that interest of more than twenty per cent in associate is overcome | Even though the Group's ownership interest of the entity is more than 20%, the Group does not have significant influence over the entity since it is going through work-out process under receivership, thus it is excluded from the investment in associates. | [1] | Even though the Group's ownership interest of the entity is more than 20%, the Group does not have significant influence over the entity since it is going through work-out process under receivership, thus it is excluded from the investment in associates. | |
Force TEC C Co., Ltd. | ||||
Disclosure of entities not applied for equity method of accounting with ownership ratio exceeding twenty percent [Line Items] | ||||
Number of shares owned | 4,780,907 | |||
Ownership | 25.80% | |||
Description of reasons why presumption that interest of more than twenty per cent in associate is overcome | [1] | Even though the Group's ownership ratio of the entity was more than 20%, the Group did not have significant influence over the entity because the entity was going through workout process under receivership and thus was excluded from the investment in associates. However, as the workout process was completed for the year ended December 31, 2018, it has been included in the investment in associates. | ||
Protronics Co Ltd | ||||
Disclosure of entities not applied for equity method of accounting with ownership ratio exceeding twenty percent [Line Items] | ||||
Number of shares owned | 95,921 | |||
Ownership | 48.10% | |||
Description of reasons why presumption that interest of more than twenty per cent in associate is overcome | [1] | Even though the Group's ownership interest of the entity is more than 20%, the Group does not have significant influence over the entity since it is going through work-out process under receivership, thus it is excluded from the investment in associates. | ||
Instern Co Ltd | ||||
Disclosure of entities not applied for equity method of accounting with ownership ratio exceeding twenty percent [Line Items] | ||||
Number of shares owned | 14,296 | |||
Ownership | 20.10% | |||
Description of reasons why presumption that interest of more than twenty per cent in associate is overcome | [1] | Even though the Group's ownership interest of the entity is more than 20%, the Group does not have significant influence over the entity since it is going through work-out process under receivership, thus it is excluded from the investment in associates. | ||
[1] | Even though the Group's ownership interest of the entity is more than 20%, the Group does not have significant influence over the entity since it is going through work-out process under receivership, thus it is excluded from the investment in associates. |
Investment in joint ventures _7
Investment in joint ventures and associates_Reconciliations from the net assets of associates based on the ownership ratio to corresponding book value of investment in joint ventures and associates (Details) $ in Thousands | 12 Months Ended | |||||||
Dec. 31, 2018KRW (₩) | Dec. 31, 2017KRW (₩) | Dec. 31, 2016KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2015KRW (₩) | ||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||||
Book value | ₩ 361,766,000,000 | ₩ 417,051,000,000 | ₩ 439,012,000,000 | $ 325,066 | ₩ 643,861,000,000 | |||
Woori Blackstone Korea Opportunity Private Equity Fund No. 1 | ||||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||||
Total net asset | ₩ 57,544,000,000 | |||||||
Ownership | 26.40% | |||||||
Ownership portion of net assets | ₩ 15,191,000,000 | |||||||
Basis difference | 0 | |||||||
Impairment | 0 | |||||||
Intercompany transaction | 98,000,000 | |||||||
Book value | 0 | 15,289,000,000 | 56,044,000,000 | |||||
Kumho Tire Co Inc | ||||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||||
Total net asset | [1] | ₩ 1,065,421,000,000 | ₩ 1,055,219,000,000 | |||||
Ownership | 14.20% | 14.20% | ||||||
Ownership portion of net assets | ₩ 150,767,000,000 | ₩ 149,324,000,000 | ||||||
Basis difference | 48,459,000,000 | 48,459,000,000 | ||||||
Impairment | (102,843,000,000) | 0 | ||||||
Intercompany transaction | 2,550,000,000 | 2,549,000,000 | ||||||
Book value | 0 | 98,933,000,000 | 200,332,000,000 | 214,050,000,000 | ||||
Woori Service Networks Co., Ltd. | ||||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||||
Total net asset | ₩ 3,180,000,000 | ₩ 3,202,000,000 | ₩ 2,940,000,000 | |||||
Ownership | 4.90% | 4.90% | 4.90% | |||||
Ownership portion of net assets | ₩ 157,000,000 | ₩ 158,000,000 | ₩ 145,000,000 | |||||
Basis difference | 0 | 0 | 0 | |||||
Impairment | 0 | 0 | 0 | |||||
Intercompany transaction | 0 | 0 | 0 | |||||
Book value | 157,000,000 | 158,000,000 | 145,000,000 | 139,000,000 | ||||
Korea Credit Bureau Co., Ltd. | ||||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||||
Total net asset | ₩ 66,009,000,000 | ₩ 56,181,000,000 | ₩ 53,923,000,000 | |||||
Ownership | 9.90% | 9.90% | 9.90% | |||||
Ownership portion of net assets | ₩ 6,544,000,000 | ₩ 5,568,000,000 | ₩ 5,344,000,000 | |||||
Basis difference | 246,000,000 | 248,000,000 | 248,000,000 | |||||
Impairment | 0 | 0 | 0 | |||||
Intercompany transaction | 0 | 0 | 0 | |||||
Book value | 6,790,000,000 | 5,816,000,000 | 5,592,000,000 | 5,291,000,000 | ||||
Korea Finance Security Co., Ltd. | ||||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||||
Total net asset | ₩ 23,041,000,000 | ₩ 23,454,000,000 | ₩ 22,503,000,000 | |||||
Ownership | 15.00% | 15.00% | 15.00% | |||||
Ownership portion of net assets | ₩ 3,456,000,000 | ₩ 3,519,000,000 | ₩ 3,376,000,000 | |||||
Basis difference | 0 | 0 | 0 | |||||
Impairment | 0 | 0 | 0 | |||||
Intercompany transaction | 0 | 0 | 0 | |||||
Book value | 3,456,000,000 | 3,519,000,000 | 3,376,000,000 | 3,711,000,000 | ||||
Chin Hung International Inc. | ||||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||||
Total net asset | [1] | ₩ 79,793,000,000 | ₩ 81,686,000,000 | ₩ 65,387,000,000 | ||||
Ownership | 25.30% | 25.30% | 28.40% | |||||
Ownership portion of net assets | ₩ 20,192,000,000 | ₩ 20,671,000,000 | ₩ 18,593,000,000 | |||||
Basis difference | 24,565,000,000 | 24,565,000,000 | 24,565,000,000 | |||||
Impairment | 0 | 0 | 0 | |||||
Intercompany transaction | (16,000,000) | (135,000,000) | (126,000,000) | |||||
Book value | 44,741,000,000 | 45,101,000,000 | 43,032,000,000 | 43,936,000,000 | ||||
Poonglim Industrial Co., Ltd. | ||||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||||
Total net asset | [1] | ₩ (168,154,000,000) | ₩ (111,156,000,000) | |||||
Ownership | 29.40% | 31.00% | ||||||
Ownership portion of net assets | ₩ (49,446,000,000) | ₩ (34,463,000,000) | ||||||
Basis difference | 54,542,000,000 | 54,149,000,000 | ||||||
Impairment | (20,504,000,000) | (21,062,000,000) | ||||||
Intercompany transaction | 15,408,000,000 | 1,376,000,000 | ||||||
Book value | 0 | ₩ 0 | 0 | 5,313,000,000 | ||||
STX Engine Co., Ltd. | ||||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||||
Total net asset | ₩ 95,784,000,000 | |||||||
Ownership | 29.20% | 29.20% | ||||||
Ownership portion of net assets | ₩ 28,002,000,000 | |||||||
Basis difference | 14,954,000,000 | |||||||
Impairment | 0 | |||||||
Intercompany transaction | 80,000,000 | |||||||
Book value | ₩ 0 | 43,036,000,000 | 51,276,000,000 | |||||
Samho Co., Ltd. | ||||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||||
Total net asset | ₩ 251,656,000,000 | |||||||
Ownership | 7.80% | |||||||
Ownership portion of net assets | ₩ 19,729,000,000 | |||||||
Basis difference | 0 | |||||||
Impairment | 0 | |||||||
Intercompany transaction | 0 | |||||||
Book value | 0 | 19,729,000,000 | 14,325,000,000 | |||||
STX Corporation | ||||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||||
Total net asset | ₩ 51,890,000,000 | ₩ (250,018,000,000) | [1] | |||||
Ownership | 19.70% | 9.50% | ||||||
Ownership portion of net assets | ₩ 10,232,000,000 | ₩ (23,633,000,000) | ||||||
Basis difference | 24,614,000,000 | 24,614,000,000 | ||||||
Impairment | (27,904,000,000) | (27,904,000,000) | ||||||
Intercompany transaction | 5,000,000 | 26,923,000,000 | ||||||
Book value | 0 | 6,947,000,000 | 0 | 4,251,000,000 | ||||
Saman Corporation | ||||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||||
Total net asset | ₩ 27,805,000,000 | ₩ 28,506,000,000 | ₩ 36,205,000,000 | |||||
Ownership | 9.20% | 9.20% | 9.20% | |||||
Ownership portion of net assets | ₩ 2,556,000,000 | ₩ 2,619,000,000 | ₩ 3,326,000,000 | |||||
Basis difference | 5,373,000,000 | 5,373,000,000 | 5,373,000,000 | |||||
Impairment | (6,915,000,000) | (6,738,000,000) | 0 | |||||
Intercompany transaction | 0 | 0 | 0 | |||||
Book value | 1,014,000,000 | 1,254,000,000 | 8,699,000,000 | 8,521,000,000 | ||||
Woori Growth Partnerships New Technology Private Equity Fund | ||||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||||
Total net asset | ₩ 108,727,000,000 | ₩ 119,648,000,000 | ₩ 56,846,000,000 | |||||
Ownership | 23.10% | 23.10% | 23.10% | |||||
Ownership portion of net assets | ₩ 25,091,000,000 | ₩ 27,611,000,000 | ₩ 13,118,000,000 | |||||
Basis difference | 0 | 0 | 0 | |||||
Impairment | 0 | 0 | 0 | |||||
Intercompany transaction | 0 | 0 | 0 | |||||
Book value | 25,091,000,000 | 27,611,000,000 | 13,118,000,000 | 0 | ||||
2016KIF-IMM Woori Bank Technology Venture Fund | ||||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||||
Total net asset | ₩ 73,219,000,000 | ₩ 32,435,000,000 | ₩ 8,751,000,000 | |||||
Ownership | 20.00% | 20.00% | 20.00% | |||||
Ownership portion of net assets | ₩ 14,644,000,000 | ₩ 6,487,000,000 | ₩ 1,750,000,000 | |||||
Basis difference | 0 | 0 | 0 | |||||
Impairment | 0 | 0 | 0 | |||||
Intercompany transaction | 656,000,000 | 353,000,000 | 50,000,000 | |||||
Book value | 15,300,000,000 | 6,840,000,000 | 1,800,000,000 | 0 | ||||
K BANK Co., Ltd. | ||||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||||
Total net asset | ₩ 290,597,000,000 | [1] | ₩ 243,149,000,000 | ₩ 234,173,000,000 | ||||
Ownership | 14.10% | 13.00% | 13.00% | |||||
Ownership portion of net assets | ₩ 40,984,000,000 | ₩ 31,535,000,000 | ₩ 30,442,000,000 | |||||
Basis difference | 2,725,000,000 | 0 | 0 | |||||
Impairment | 0 | 0 | 0 | |||||
Intercompany transaction | 0 | 200,000,000 | 0 | |||||
Book value | 43,709,000,000 | 31,735,000,000 | 30,442,000,000 | 0 | ||||
Woori Renaissance Holdings | ||||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||||
Total net asset | ₩ 100,708,000,000 | |||||||
Ownership | 51.60% | |||||||
Ownership portion of net assets | ₩ 51,965,000,000 | |||||||
Basis difference | 0 | |||||||
Impairment | (6,441,000,000) | |||||||
Intercompany transaction | 8,898,000,000 | |||||||
Book value | 0 | 54,422,000,000 | 37,121,000,000 | |||||
Woori Columbus First Private Equity Fund | ||||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||||
Total net asset | ₩ 305,000,000 | |||||||
Ownership | 2.00% | |||||||
Ownership portion of net assets | ₩ 6,000,000 | |||||||
Basis difference | 0 | |||||||
Impairment | 0 | |||||||
Intercompany transaction | (6,000,000) | |||||||
Book value | ₩ 0 | ₩ 1,306,000,000 | ||||||
Smart Private Equity Fund No.2 | ||||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||||
Total net asset | ₩ 14,451,000,000 | ₩ 14,660,000,000 | ||||||
Ownership | 20.00% | 20.00% | ||||||
Ownership portion of net assets | ₩ 2,890,000,000 | ₩ 2,932,000,000 | ||||||
Basis difference | 0 | 0 | ||||||
Impairment | 0 | 0 | ||||||
Intercompany transaction | 0 | 0 | ||||||
Book value | 2,890,000,000 | 2,932,000,000 | ||||||
Woori Bank-Company K Korea Movie Asset Fund | ||||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||||
Total net asset | ₩ 10,800,000,000 | ₩ 11,828,000,000 | ||||||
Ownership | 25.00% | 25.00% | ||||||
Ownership portion of net assets | ₩ 2,700,000,000 | ₩ 2,957,000,000 | ||||||
Basis difference | 0 | 0 | ||||||
Impairment | 0 | 0 | ||||||
Intercompany transaction | 0 | 0 | ||||||
Book value | 2,700,000,000 | 2,957,000,000 | ||||||
Well to Sea no.3 Private Equity Fund | ||||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||||
Total net asset | [1] | ₩ 396,248,000,000 | ₩ 364,909,000,000 | |||||
Ownership | 50.00% | 50.00% | ||||||
Ownership portion of net assets | ₩ 198,027,000,000 | ₩ 182,366,000,000 | ||||||
Basis difference | 0 | 0 | ||||||
Impairment | 0 | 0 | ||||||
Intercompany transaction | (634,000,000) | (57,000,000) | ||||||
Book value | 197,393,000,000 | 182,309,000,000 | ||||||
Partner One Value Up I Private Equity Fund [Member] | ||||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||||
Total net asset | ₩ 42,776,000,000 | |||||||
Ownership | 23.30% | |||||||
Ownership portion of net assets | ₩ 9,948,000,000 | |||||||
Basis difference | 0 | |||||||
Impairment | 0 | |||||||
Intercompany transaction | 0 | |||||||
Book value | 9,948,000,000 | |||||||
IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership [Member] | ||||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||||
Total net asset | ₩ 20,443,000,000 | |||||||
Ownership | 20.00% | |||||||
Ownership portion of net assets | ₩ 4,089,000,000 | |||||||
Basis difference | 0 | |||||||
Impairment | 0 | |||||||
Intercompany transaction | 337,000,000 | |||||||
Book value | 4,426,000,000 | |||||||
Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund | ||||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||||
Total net asset | ₩ 11,909,000,000 | |||||||
Ownership | 25.00% | |||||||
Ownership portion of net assets | ₩ 2,977,000,000 | |||||||
Basis difference | 0 | |||||||
Impairment | 0 | |||||||
Intercompany transaction | 48,000,000 | |||||||
Book value | 3,025,000,000 | |||||||
Nomura-Rifa Private Real Estate Investment Trust No.17 | ||||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||||
Total net asset | ₩ 4,019,000,000 | ₩ 3,758,000,000 | ||||||
Ownership | 19.40% | 25.00% | ||||||
Ownership portion of net assets | ₩ 780,000,000 | ₩ 939,000,000 | ||||||
Basis difference | 0 | 0 | ||||||
Impairment | 0 | 0 | ||||||
Intercompany transaction | 7,000,000 | 0 | ||||||
Book value | 787,000,000 | ₩ 939,000,000 | ||||||
Uri Hanhwa Eureka Private Equity Fund | ||||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||||
Total net asset | ₩ 42,151,000,000 | |||||||
Ownership | 0.80% | |||||||
Ownership portion of net assets | ₩ 339,000,000 | |||||||
Basis difference | 0 | |||||||
Impairment | 0 | |||||||
Intercompany transaction | 0 | |||||||
Book value | ₩ 339,000,000 | |||||||
[1] | The net asset amount is after reflecting debt-equity swap and others. |
Investment properties_Details o
Investment properties_Details of investment properties (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | ||||
Dec. 31, 2018KRW (₩) | Dec. 31, 2017KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2016KRW (₩) | Dec. 31, 2015KRW (₩) | |
Disclosure of investment property [Line Items] | |||||
Net carrying value | ₩ 378,196 | ₩ 371,301 | $ 339,829 | ₩ 358,497 | ₩ 351,496 |
Fair value of investment properties | ₩ 438,534 | ₩ 396,587 | |||
Description of extent to which fair value of investment property is based on valuation by independent value | The fair value of investment properties has been assessed on the basis of recent similar real estate market price and officially assessed land price in the area of the investment properties | The fair value of investment properties has been assessed on the basis of recent similar real estate market price and officially assessed land price in the area of the investment properties | |||
Description of investment property of level of fair value hierarchy within which fair value measurement is categorised | The fair value of investment property is classified as level 3 on the fair value hierarchy | The fair value of investment property is classified as level 3 on the fair value hierarchy | |||
Acquisition cost | |||||
Disclosure of investment property [Line Items] | |||||
Net carrying value | ₩ 416,796 | ₩ 404,741 | |||
Accumulated depreciation | |||||
Disclosure of investment property [Line Items] | |||||
Net carrying value | ₩ (38,600) | ₩ (33,440) |
Investment properties_Reconcili
Investment properties_Reconciliation of investment properties (Details) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | Dec. 31, 2016KRW (₩) | |
Reconciliation of changes in investment property [Abstract] | ||||
Beginning balance | ₩ 371,301,000,000 | ₩ 358,497,000,000 | ₩ 351,496,000,000 | |
Changes in investment property [Abstract] | ||||
Acquisition | 15,195,000,000 | 9,872,000,000 | 4,428,000,000 | |
Disposal | (3,045,000,000) | (458,000,000) | 0 | |
Depreciation | (4,045,000,000) | (3,902,000,000) | (3,762,000,000) | |
Transfers from(to) premises and equipment | 7,623,000,000 | 2,472,000,000 | 6,314,000,000 | |
Classified to assets held for sale | (10,056,000,000) | (371,000,000) | 0 | |
Foreign currencies translation adjustments | (5,000,000) | (324,000,000) | 21,000,000 | |
Others | 1,228,000,000 | 5,515,000,000 | 0 | |
Ending balance | ₩ 378,196,000,000 | $ 339,829 | ₩ 371,301,000,000 | ₩ 358,497,000,000 |
Investment properties_Rental fe
Investment properties_Rental fee earned from investment properties (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Rental income from investment property net of direct operating expense [Abstract] | |||
Rental fee earned from investment properties | ₩ 5,080 | ₩ 4,579 | ₩ 5,027 |
Premises and equipment_Details
Premises and equipment_Details of premises and equipment (Details) $ in Thousands | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | Dec. 31, 2016KRW (₩) | Dec. 31, 2015KRW (₩) |
Disclosure of property plant and equipment [Line Items] | |||||
Net carrying value | ₩ 2,450,492,000,000 | $ 2,201,898 | ₩ 2,477,545,000,000 | ₩ 2,458,025,000,000 | ₩ 2,471,206,000,000 |
Acquisition cost | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Net carrying value | 3,840,967,000,000 | 3,873,512,000,000 | |||
Accumulated depreciation | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Net carrying value | (1,390,475,000,000) | (1,395,967,000,000) | |||
Land | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Net carrying value | 1,481,871,000,000 | 1,487,278,000,000 | 1,488,745,000,000 | 1,493,628,000,000 | |
Land | Acquisition cost | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Net carrying value | 1,481,871,000,000 | 1,487,278,000,000 | |||
Building | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Net carrying value | 661,912,000,000 | 680,846,000,000 | 691,699,000,000 | 704,017,000,000 | |
Building | Acquisition cost | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Net carrying value | 872,282,000,000 | 867,804,000,000 | |||
Building | Accumulated depreciation | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Net carrying value | (210,370,000,000) | (186,958,000,000) | |||
Equipment and vehicles | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Net carrying value | 240,013,000,000 | 180,072,000,000 | 189,902,000,000 | 193,291,000,000 | |
Equipment and vehicles | Acquisition cost | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Net carrying value | 1,031,431,000,000 | 1,024,186,000,000 | |||
Equipment and vehicles | Accumulated depreciation | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Net carrying value | (791,418,000,000) | (844,114,000,000) | |||
Leasehold improvement | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Net carrying value | 57,594,000,000 | 64,787,000,000 | 68,958,000,000 | 79,744,000,000 | |
Leasehold improvement | Acquisition cost | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Net carrying value | 446,264,000,000 | 429,665,000,000 | |||
Leasehold improvement | Accumulated depreciation | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Net carrying value | (388,670,000,000) | (364,878,000,000) | |||
Construction in progress | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Net carrying value | 9,099,000,000 | 64,559,000,000 | 18,717,000,000 | 522,000,000 | |
Construction in progress | Acquisition cost | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Net carrying value | 9,099,000,000 | 64,559,000,000 | |||
Construction in progress | Accumulated depreciation | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Net carrying value | 0 | 0 | |||
Structures | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Net carrying value | 3,000,000 | 3,000,000 | ₩ 4,000,000 | ₩ 4,000,000 | |
Structures | Acquisition cost | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Net carrying value | 20,000,000 | 20,000,000 | |||
Structures | Accumulated depreciation | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Net carrying value | ₩ (17,000,000) | ₩ (17,000,000) |
Premises and equipment_Reconcil
Premises and equipment_Reconciliation of premises and equipment (Details) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | Dec. 31, 2016KRW (₩) | |
Reconciliation of changes in property plant and equipment [Abstract] | ||||
Beginning balance | ₩ 2,477,545,000,000 | ₩ 2,458,025,000,000 | ₩ 2,471,206,000,000 | |
Changes in property plant and equipment [Abstract] | ||||
Acquisition | 118,668,000,000 | 162,245,000,000 | 131,121,000,000 | |
Disposal | (6,145,000,000) | (6,106,000,000) | (4,462,000,000) | |
Depreciation | (134,347,000,000) | (132,108,000,000) | (155,919,000,000) | |
Classified to assets held for sale | (6,243,000,000) | (4,314,000,000) | ||
Classified to assets held for sale | (3,203,000,000) | |||
Transfer | (7,623,000,000) | (2,472,000,000) | (6,059,000,000) | |
Foreign currencies translation adjustment | (365,000,000) | (6,626,000,000) | 1,977,000,000 | |
Acquisition through business combination | 1,630,000,000 | 651,000,000 | ||
Others | 7,372,000,000 | 7,790,000,000 | 23,824,000,000 | |
Ending balance | 2,450,492,000,000 | $ 2,201,898 | 2,477,545,000,000 | 2,458,025,000,000 |
Land | ||||
Reconciliation of changes in property plant and equipment [Abstract] | ||||
Beginning balance | 1,487,278,000,000 | 1,488,745,000,000 | 1,493,628,000,000 | |
Changes in property plant and equipment [Abstract] | ||||
Acquisition | 1,372,000,000 | 4,755,000,000 | 0 | |
Disposal | (29,000,000) | (1,840,000,000) | (30,000,000) | |
Depreciation | 0 | 0 | 0 | |
Classified to assets held for sale | (3,651,000,000) | (4,063,000,000) | ||
Classified to assets held for sale | (2,693,000,000) | |||
Transfer | (2,863,000,000) | (196,000,000) | (1,415,000,000) | |
Foreign currencies translation adjustment | (236,000,000) | (1,493,000,000) | 625,000,000 | |
Acquisition through business combination | 0 | 0 | ||
Others | 0 | 0 | 0 | |
Ending balance | 1,481,871,000,000 | 1,487,278,000,000 | 1,488,745,000,000 | |
Building | ||||
Reconciliation of changes in property plant and equipment [Abstract] | ||||
Beginning balance | 680,846,000,000 | 691,699,000,000 | 704,017,000,000 | |
Changes in property plant and equipment [Abstract] | ||||
Acquisition | 14,701,000,000 | 22,579,000,000 | 15,939,000,000 | |
Disposal | 0 | (2,593,000,000) | (1,474,000,000) | |
Depreciation | (26,014,000,000) | (26,156,000,000) | (24,887,000,000) | |
Classified to assets held for sale | (2,592,000,000) | (251,000,000) | ||
Classified to assets held for sale | (1,059,000,000) | |||
Transfer | (4,760,000,000) | (2,134,000,000) | (1,557,000,000) | |
Foreign currencies translation adjustment | (257,000,000) | (1,393,000,000) | 516,000,000 | |
Acquisition through business combination | 0 | 0 | ||
Others | (12,000,000) | (97,000,000) | (604,000,000) | |
Ending balance | 661,912,000,000 | 680,846,000,000 | 691,699,000,000 | |
Equipment and vehicles | ||||
Reconciliation of changes in property plant and equipment [Abstract] | ||||
Beginning balance | 180,072,000,000 | 189,902,000,000 | 193,291,000,000 | |
Changes in property plant and equipment [Abstract] | ||||
Acquisition | 76,783,000,000 | 59,694,000,000 | 74,336,000,000 | |
Disposal | (5,192,000,000) | (442,000,000) | (233,000,000) | |
Depreciation | (76,171,000,000) | (74,223,000,000) | (82,445,000,000) | |
Classified to assets held for sale | 0 | 0 | ||
Classified to assets held for sale | 549,000,000 | |||
Transfer | 63,432,000,000 | 5,411,000,000 | 0 | |
Foreign currencies translation adjustment | (69,000,000) | (2,023,000,000) | 307,000,000 | |
Acquisition through business combination | 969,000,000 | 209,000,000 | ||
Others | 189,000,000 | 1,204,000,000 | 4,437,000,000 | |
Ending balance | 240,013,000,000 | 180,072,000,000 | 189,902,000,000 | |
Leasehold improvement | ||||
Reconciliation of changes in property plant and equipment [Abstract] | ||||
Beginning balance | 64,787,000,000 | 68,958,000,000 | 79,744,000,000 | |
Changes in property plant and equipment [Abstract] | ||||
Acquisition | 17,527,000,000 | 23,420,000,000 | 19,615,000,000 | |
Disposal | (737,000,000) | (1,231,000,000) | (2,623,000,000) | |
Depreciation | (32,162,000,000) | (31,728,000,000) | (48,587,000,000) | |
Classified to assets held for sale | 0 | 0 | ||
Classified to assets held for sale | 0 | |||
Transfer | 0 | 0 | 0 | |
Foreign currencies translation adjustment | 323,000,000 | (1,315,000,000) | 376,000,000 | |
Acquisition through business combination | 661,000,000 | 442,000,000 | ||
Others | 7,195,000,000 | 6,683,000,000 | 19,991,000,000 | |
Ending balance | 57,594,000,000 | 64,787,000,000 | 68,958,000,000 | |
Construction in progress | ||||
Reconciliation of changes in property plant and equipment [Abstract] | ||||
Beginning balance | 64,559,000,000 | 18,717,000,000 | 522,000,000 | |
Changes in property plant and equipment [Abstract] | ||||
Acquisition | 8,285,000,000 | 51,797,000,000 | 21,231,000,000 | |
Disposal | (187,000,000) | 0 | (102,000,000) | |
Depreciation | 0 | 0 | 0 | |
Classified to assets held for sale | 0 | 0 | ||
Classified to assets held for sale | 0 | |||
Transfer | (63,432,000,000) | (5,553,000,000) | (3,087,000,000) | |
Foreign currencies translation adjustment | (126,000,000) | (402,000,000) | 153,000,000 | |
Acquisition through business combination | 0 | 0 | ||
Others | 0 | 0 | 0 | |
Ending balance | 9,099,000,000 | 64,559,000,000 | 18,717,000,000 | |
Structures | ||||
Reconciliation of changes in property plant and equipment [Abstract] | ||||
Beginning balance | 3,000,000 | 4,000,000 | 4,000,000 | |
Changes in property plant and equipment [Abstract] | ||||
Acquisition | 0 | 0 | 0 | |
Disposal | 0 | 0 | 0 | |
Depreciation | 0 | (1,000,000) | 0 | |
Classified to assets held for sale | 0 | 0 | ||
Classified to assets held for sale | 0 | |||
Transfer | 0 | 0 | 0 | |
Foreign currencies translation adjustment | 0 | 0 | 0 | |
Acquisition through business combination | 0 | 0 | ||
Others | 0 | 0 | 0 | |
Ending balance | ₩ 3,000,000 | ₩ 3,000,000 | ₩ 4,000,000 |
Intangible assets_Details of in
Intangible assets_Details of intangible assets (Details) $ in Thousands | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | Dec. 31, 2016KRW (₩) | Dec. 31, 2015KRW (₩) |
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | ₩ 597,520,000,000 | $ 536,904 | ₩ 518,599,000,000 | ₩ 483,739,000,000 | ₩ 419,806,000,000 |
Acquisition cost | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | 1,546,687,000,000 | 1,387,971,000,000 | |||
Accumulated amortization | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | (945,602,000,000) | (862,583,000,000) | |||
Accumulated impairment losses | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | (3,565,000,000) | (6,789,000,000) | |||
Goodwill | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | 153,602,000,000 | 108,707,000,000 | 124,803,000,000 | 103,525,000,000 | |
Goodwill | Acquisition cost | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | 153,602,000,000 | 108,707,000,000 | |||
Goodwill | Accumulated amortization | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | 0 | 0 | |||
Goodwill | Accumulated impairment losses | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | 0 | 0 | |||
Software | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | 29,727,000,000 | 40,672,000,000 | 35,477,000,000 | 38,171,000,000 | |
Software | Acquisition cost | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | 156,109,000,000 | 203,418,000,000 | |||
Software | Accumulated amortization | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | (126,382,000,000) | (162,746,000,000) | |||
Software | Accumulated impairment losses | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | 0 | 0 | |||
Industrial property rights | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | 562,000,000 | 539,000,000 | 313,000,000 | 344,000,000 | |
Industrial property rights | Acquisition cost | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | 1,258,000,000 | 1,063,000,000 | |||
Industrial property rights | Accumulated amortization | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | (696,000,000) | (524,000,000) | |||
Industrial property rights | Accumulated impairment losses | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | 0 | 0 | |||
Development costs | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | 240,320,000,000 | 77,241,000,000 | 70,697,000,000 | ||
Development costs | Acquisition cost | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | 469,226,000,000 | 260,087,000,000 | |||
Development costs | Accumulated amortization | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | (228,906,000,000) | (182,846,000,000) | |||
Development costs | Accumulated impairment losses | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | 0 | 0 | |||
Others | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | 139,297,000,000 | 117,546,000,000 | 164,364,000,000 | 201,769,000,000 | |
Others | Acquisition cost | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | 729,052,000,000 | 634,150,000,000 | |||
Others | Accumulated amortization | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | (589,618,000,000) | (516,467,000,000) | |||
Others | Accumulated impairment losses | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | (137,000,000) | (137,000,000) | |||
Membership deposit | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | 23,597,000,000 | 20,685,000,000 | 20,086,000,000 | ₩ 24,640,000,000 | |
Membership deposit | Acquisition cost | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | 27,025,000,000 | 27,337,000,000 | |||
Membership deposit | Accumulated amortization | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | 0 | 0 | |||
Membership deposit | Accumulated impairment losses | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | (3,428,000,000) | (6,652,000,000) | |||
Construction in progress | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | 10,415,000,000 | 153,209,000,000 | ₩ 67,999,000,000 | ||
Construction in progress | Acquisition cost | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | 10,415,000,000 | 153,209,000,000 | |||
Construction in progress | Accumulated amortization | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | 0 | 0 | |||
Construction in progress | Accumulated impairment losses | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||||
Net carrying value | ₩ 0 | ₩ 0 |
Intangible Assets_Reconciliatio
Intangible Assets_Reconciliation of intangible assets (Details) $ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | Dec. 31, 2016KRW (₩) | ||||
Reconciliation of changes in intangible assets and goodwill [Abstract] | |||||||
Beginning balance | ₩ 518,599,000,000 | ₩ 483,739,000,000 | ₩ 419,806,000,000 | ||||
Changes in intangible assets and goodwill [Abstract] | |||||||
Acquisition | 175,403,000,000 | 157,423,000,000 | 134,889,000,000 | ||||
Disposal | (7,426,000,000) | (981,000,000) | (3,808,000,000) | ||||
Amortization | (134,158,000,000) | [1] | (99,784,000,000) | [2] | (92,350,000,000) | ||
Impairment losses | (237,000,000) | 1,645,000,000 | |||||
Reversal of impairment loss | 674,000,000 | ||||||
Transfer | 0 | 0 | |||||
Acquisition through business combination | 47,515,000,000 | 8,062,000,000 | |||||
Foreign currencies translation adjustment | (2,302,000,000) | (20,538,000,000) | 8,257,000,000 | ||||
Others | (785,000,000) | (1,023,000,000) | 7,238,000,000 | ||||
Ending balance | 597,520,000,000 | $ 536,904 | 518,599,000,000 | 483,739,000,000 | |||
Amortization of other intangible assets included in other operating expenses | 48,292,000,000 | 51,770,000,000 | |||||
Goodwill | |||||||
Reconciliation of changes in intangible assets and goodwill [Abstract] | |||||||
Beginning balance | 108,707,000,000 | 124,803,000,000 | 103,525,000,000 | ||||
Changes in intangible assets and goodwill [Abstract] | |||||||
Acquisition | 0 | 105,000,000 | 0 | ||||
Disposal | 0 | 0 | 0 | ||||
Amortization | 0 | [1] | 0 | [2] | 0 | ||
Impairment losses | 0 | 0 | |||||
Reversal of impairment loss | 0 | ||||||
Transfer | 0 | 0 | |||||
Acquisition through business combination | 46,752,000,000 | 7,857,000,000 | |||||
Foreign currencies translation adjustment | (1,857,000,000) | (16,201,000,000) | 7,338,000,000 | ||||
Others | 0 | 0 | 6,083,000,000 | ||||
Ending balance | 153,602,000,000 | 108,707,000,000 | 124,803,000,000 | ||||
Software | |||||||
Reconciliation of changes in intangible assets and goodwill [Abstract] | |||||||
Beginning balance | 40,672,000,000 | 35,477,000,000 | 38,171,000,000 | ||||
Changes in intangible assets and goodwill [Abstract] | |||||||
Acquisition | 6,839,000,000 | 9,722,000,000 | 8,708,000,000 | ||||
Disposal | (4,359,000,000) | 0 | 0 | ||||
Amortization | (14,028,000,000) | [1] | (16,258,000,000) | [2] | (15,795,000,000) | ||
Impairment losses | 0 | 0 | |||||
Reversal of impairment loss | 0 | ||||||
Transfer | 0 | 7,987,000,000 | |||||
Acquisition through business combination | 763,000,000 | 162,000,000 | |||||
Foreign currencies translation adjustment | (165,000,000) | (952,000,000) | 16,000,000 | ||||
Others | 5,000,000 | 4,696,000,000 | 4,215,000,000 | ||||
Ending balance | 29,727,000,000 | 40,672,000,000 | 35,477,000,000 | ||||
Industrial property rights | |||||||
Reconciliation of changes in intangible assets and goodwill [Abstract] | |||||||
Beginning balance | 539,000,000 | 313,000,000 | 344,000,000 | ||||
Changes in intangible assets and goodwill [Abstract] | |||||||
Acquisition | 195,000,000 | 349,000,000 | 64,000,000 | ||||
Disposal | 0 | 0 | 0 | ||||
Amortization | (172,000,000) | [1] | (123,000,000) | [2] | (95,000,000) | ||
Impairment losses | 0 | 0 | |||||
Reversal of impairment loss | 0 | ||||||
Transfer | 0 | 0 | |||||
Acquisition through business combination | 0 | 0 | |||||
Foreign currencies translation adjustment | 0 | 0 | 0 | ||||
Others | 0 | 0 | 0 | ||||
Ending balance | 562,000,000 | 539,000,000 | 313,000,000 | ||||
Intangible Assets Under Development costs and Construction In Progress | |||||||
Reconciliation of changes in intangible assets and goodwill [Abstract] | |||||||
Beginning balance | [3] | 138,696,000,000 | 51,357,000,000 | ||||
Changes in intangible assets and goodwill [Abstract] | |||||||
Acquisition | [3] | 92,969,000,000 | |||||
Disposal | [3] | 0 | |||||
Amortization | [3] | (18,657,000,000) | |||||
Impairment losses | [3] | 0 | |||||
Acquisition through business combination | [3] | 0 | |||||
Foreign currencies translation adjustment | [3] | 0 | |||||
Others | [3] | 13,027,000,000 | |||||
Ending balance | [3] | 138,696,000,000 | |||||
Development costs | |||||||
Reconciliation of changes in intangible assets and goodwill [Abstract] | |||||||
Beginning balance | 77,241,000,000 | 70,697,000,000 | |||||
Changes in intangible assets and goodwill [Abstract] | |||||||
Acquisition | 20,935,000,000 | 29,133,000,000 | |||||
Disposal | 0 | 0 | |||||
Amortization | (46,045,000,000) | [1] | (22,534,000,000) | [2] | |||
Impairment losses | 0 | ||||||
Reversal of impairment loss | 0 | ||||||
Transfer | 188,189,000,000 | 0 | |||||
Acquisition through business combination | 0 | ||||||
Foreign currencies translation adjustment | 0 | 36,000,000 | |||||
Others | 0 | (91,000,000) | |||||
Ending balance | 240,320,000,000 | 77,241,000,000 | 70,697,000,000 | ||||
Others | |||||||
Reconciliation of changes in intangible assets and goodwill [Abstract] | |||||||
Beginning balance | 117,546,000,000 | 164,364,000,000 | 201,769,000,000 | ||||
Changes in intangible assets and goodwill [Abstract] | |||||||
Acquisition | 45,205,000,000 | 22,531,000,000 | 30,842,000,000 | ||||
Disposal | (196,000,000) | (37,000,000) | (23,000,000) | ||||
Amortization | (73,913,000,000) | [1] | (60,869,000,000) | [2] | (57,803,000,000) | ||
Impairment losses | (78,000,000) | 3,230,000,000 | |||||
Reversal of impairment loss | 0 | ||||||
Transfer | 51,672,000,000 | 0 | |||||
Acquisition through business combination | 0 | 0 | |||||
Foreign currencies translation adjustment | (227,000,000) | (2,742,000,000) | 853,000,000 | ||||
Others | (790,000,000) | (5,623,000,000) | (14,504,000,000) | ||||
Ending balance | 139,297,000,000 | 117,546,000,000 | 164,364,000,000 | ||||
Membership deposit | |||||||
Reconciliation of changes in intangible assets and goodwill [Abstract] | |||||||
Beginning balance | 20,685,000,000 | 20,086,000,000 | 24,640,000,000 | ||||
Changes in intangible assets and goodwill [Abstract] | |||||||
Acquisition | 5,162,000,000 | 1,867,000,000 | 2,306,000,000 | ||||
Disposal | (2,871,000,000) | (944,000,000) | (3,785,000,000) | ||||
Amortization | 0 | [1] | 0 | [2] | 0 | ||
Impairment losses | (159,000,000) | (1,585,000,000) | |||||
Reversal of impairment loss | 674,000,000 | ||||||
Transfer | 0 | 0 | |||||
Acquisition through business combination | 0 | 43,000,000 | |||||
Foreign currencies translation adjustment | (53,000,000) | (160,000,000) | 50,000,000 | ||||
Others | 0 | (5,000,000) | (1,583,000,000) | ||||
Ending balance | 23,597,000,000 | 20,685,000,000 | 20,086,000,000 | ||||
Construction in progress | |||||||
Reconciliation of changes in intangible assets and goodwill [Abstract] | |||||||
Beginning balance | 153,209,000,000 | 67,999,000,000 | |||||
Changes in intangible assets and goodwill [Abstract] | |||||||
Acquisition | 97,067,000,000 | 93,716,000,000 | 0 | ||||
Disposal | 0 | 0 | 0 | ||||
Amortization | 0 | [1] | 0 | [2] | 0 | ||
Impairment losses | 0 | 0 | |||||
Reversal of impairment loss | 0 | ||||||
Transfer | (239,861,000,000) | (7,987,000,000) | |||||
Acquisition through business combination | 0 | 0 | |||||
Foreign currencies translation adjustment | 0 | (519,000,000) | 0 | ||||
Others | 0 | 0 | 0 | ||||
Ending balance | ₩ 10,415,000,000 | ₩ 153,209,000,000 | ₩ 67,999,000,000 | ||||
[1] | Amortization of other intangible assets amounting to 51,770 million Won is included in other operating expenses. | ||||||
[2] | Amortization of other intangible assets amounting to 48,292 million Won is included in other operating expenses. | ||||||
[3] | Development cost includes the amount of Construction in progress. |
Intangible assets and goodwill_
Intangible assets and goodwill_Describtion of goodwill (Details) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Goodwill [Abstract] | ||
Description Of Factors That Make Up Goodwill Of Intangible Assets | Goodwill is allocated to cash-generating units, based on management's analysis, that are expected to benefit from the synergies of the combination for impairment testing, and cash-generating units consist of an operating segment or units which are not larger than an operating segment. The recoverable amount of a cash-generating unit is measured at the higher of its fair value less costs to sell and its value in use. The fair value less costs to sell is the amount obtainable from the sale in an arm's length transaction between knowledgeable, willing parties, less the costs of disposal. If it is difficult to measure the amount obtainable from the sale, the Group measures the fair value less costs to sell by reflecting the characteristics of the measured cash-generating unit. If it is not possible to obtain reliable information to measure the fair value less costs to sell, the Group uses the asset's value in use as its recoverable amount. Value in use is the present value of the future cash flows expected to be derived from an asset or cash-generating unit. The projections of the future cash flows are based on the most recent financial budget approved by management and generally cover a period of five years. The future cash flows after projection period are estimated on the assumption that the future cash flows will increase by 3.0% for all other cash-generating units. The key assumptions used for the estimation of the future cash flows are the market size and the Group's market share. The discount rate is a pre-tax rate that reflects assumptions regarding risk-free interest rate, market risk premium and the risks specific to the asset for which the future cash flow estimates have not been adjusted. | Goodwill is allocated to cash-generating units, based on management's analysis, that are expected to benefit from the synergies of the combination for impairment testing, and cash-generating units consist of an operating segment or units which are not larger than an operating segment. The recoverable amount of a cash-generating unit is measured at the higher of its fair value less costs to sell and its value in use. The fair value less costs to sell is the amount obtainable from the sale in an arm's length transaction between knowledgeable, willing parties, less the costs of disposal. If it is difficult to measure the amount obtainable from the sale, the Group measures the fair value less costs to sell by reflecting the characteristics of the measured cash-generating unit. If it is not possible to obtain reliable information to measure the fair value less costs to sell, the Group uses the asset's value in use as its recoverable amount. Value in use is the present value of the future cash flows expected to be derived from an asset or cash-generating unit. The projections of the future cash flows are based on the most recent financial budget approved by management and generally cover a period of five years. The future cash flows after projection period are estimated on the assumption that the future cash flows will increase by 3.0% for all other cash-generating units. The key assumptions used for the estimation of the future cash flows are the market size and the Group's market share. The discount rate is a pre-tax rate that reflects assumptions regarding risk-free interest rate, market risk premium and the risks specific to the asset for which the future cash flow estimates have not been adjusted. |
Assets held for sale_Details of
Assets held for sale_Details of assets held for sale (Details) $ in Thousands | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | |
Assets or disposal groups classified as held for sale [Line Items] | ||||
Total | ₩ 17,912,000,000 | $ 16,095 | ₩ 48,624,000,000 | |
Investments in joint ventures and associates | ||||
Assets or disposal groups classified as held for sale [Line Items] | ||||
Total | 0 | 46,217,000,000 | ||
Premises and equipment, etc. | ||||
Assets or disposal groups classified as held for sale [Line Items] | ||||
Total | [1] | ₩ 17,912,000,000 | ₩ 2,407,000,000 | |
[1] | The Group classified premises and equipment that are highly likely to be sold within one year as assets held for sale. |
Assets subject to lien and as_3
Assets subject to lien and assets acquired through foreclosures_Assets subjected to lien (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Financial instruments owned and pledged as collateral [Line Items] | |||
Amount | ₩ 9,588,125 | ₩ 9,725,617 | |
Due from banks on time in local currency | |||
Financial instruments owned and pledged as collateral [Line Items] | |||
Amount | ₩ 1,500 | ||
Collateral given to | Daishin AMC and others | ||
Reason for collateral | Right of pledge | ||
Due from banks in local currency | |||
Financial instruments owned and pledged as collateral [Line Items] | |||
Amount | ₩ 38,112 | ||
Collateral given to | Samsung Securities Co., Ltd. and others | ||
Reason for collateral | Margin deposit for futures or option | ||
Due from banks in foreign currencies | |||
Financial instruments owned and pledged as collateral [Line Items] | |||
Amount | ₩ 202,156 | ||
Collateral given to | Korea Investment & Securities Co., Ltd. and others | ||
Reason for collateral | Foreign margin deposit for future or option and others | ||
Korean financial institutions' debt securities and others | |||
Financial instruments owned and pledged as collateral [Line Items] | |||
Amount | ₩ 2,919,042 | ||
Collateral given to | The BOK and others | ||
Reason for collateral | Settlement risk and others | ||
Korean financial institutions' debt securities and others | |||
Financial instruments owned and pledged as collateral [Line Items] | |||
Amount | ₩ 33,588 | ||
Collateral given to | Banco Bilbao Vizcaya Argentaria, S.A | ||
Reason for collateral | [1] | Related to bonds sold under repurchase agreements | |
Korean treasury and government bonds | |||
Financial instruments owned and pledged as collateral [Line Items] | |||
Amount | ₩ 5,552 | ||
Collateral given to | Korea Securities Depository | ||
Reason for collateral | [1] | Related to bonds sold under repurchase agreements | |
Korean financial institutions debt securities and others | |||
Financial instruments owned and pledged as collateral [Line Items] | |||
Amount | ₩ 6,382,188 | ||
Collateral given to | The BOK and others | ||
Reason for collateral | Settlement risk and others | ||
Due from banks on time in local currency | |||
Financial instruments owned and pledged as collateral [Line Items] | |||
Amount | ₩ 6,629 | ||
Collateral given to | Bank of China and others | ||
Reason for collateral | Collaterals for issuing letter of guarantee and others | ||
Due from banks in local currency | |||
Financial instruments owned and pledged as collateral [Line Items] | |||
Amount | ₩ 10,809 | ||
Collateral given to | Samsung Securities Co., Ltd. and others | ||
Reason for collateral | Margin deposit for futures or option | ||
Due from banks in foreign currencies | |||
Financial instruments owned and pledged as collateral [Line Items] | |||
Amount | ₩ 9,136 | ||
Collateral given to | Korea Investment & Securities Co., Ltd. and others | ||
Reason for collateral | Foreign margin deposit for future or option and others | ||
Korean financial institutions debt securities and others | |||
Financial instruments owned and pledged as collateral [Line Items] | |||
Amount | ₩ 501,523 | ||
Collateral given to | Yuanta Securities Co., Ltd. and others | ||
Reason for collateral | Substitute securities and others | ||
Korean treasury and corporate bonds | |||
Financial instruments owned and pledged as collateral [Line Items] | |||
Amount | ₩ 9,998 | ||
Collateral given to | Korea Securities Depository and others | ||
Reason for collateral | [1] | Related to bonds sold under repurchase agreements | |
Korean treasury and government agencies bonds and others | |||
Financial instruments owned and pledged as collateral [Line Items] | |||
Amount | ₩ 1,570,608 | ||
Collateral given to | The BOK and others | ||
Reason for collateral | Settlement risk and others | ||
Korean treasury and government bonds | |||
Financial instruments owned and pledged as collateral [Line Items] | |||
Amount | ₩ 5,436 | ||
Collateral given to | Korea Securities Depository | ||
Reason for collateral | [1] | Related to bonds sold under repurchase agreements | |
Korean financial institutions debt securities and others | |||
Financial instruments owned and pledged as collateral [Line Items] | |||
Amount | ₩ 7,605,292 | ||
Collateral given to | The BOK and others | ||
Reason for collateral | Settlement risk and others | ||
Land and building | |||
Financial instruments owned and pledged as collateral [Line Items] | |||
Amount | ₩ 5,987 | ₩ 6,186 | |
Collateral given to | Credit Counselling & Recovery Service and others | Credit Counselling & Recovery Service and others | |
Reason for collateral | Right to collateral and others | Leasehold rights and others | |
[1] | The Group has the agreements to repurchase the sold assets at the predetermined price or the price that includes the rate of return and to provide the guarantee on the assets. The transferee has the right to sell or to provide as guarantee. Therefore, the Group does not derecognize the assets, but recognizes the relevant amounts as liability (bonds sold under repurchase agreements). |
Assets subject to lien and as_4
Assets subject to lien and assets acquired through foreclosures_Carrying amounts of buildings acquired through foreclosure (Details) - KRW (₩) | Dec. 31, 2018 | Dec. 31, 2017 |
Disclsoure of carrying amounts of assets acquired through foreclosure [Abstract] | ||
Land | ₩ 0 | ₩ 332,000,000 |
Buildings | 0 | 44,000,000 |
Total | ₩ 0 | ₩ 376,000,000 |
Assets subject to lien and as_5
Assets subject to lien and assets acquired through foreclosures_Details of securities lent (Details) - KRW (₩) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Securities Loaned | ||
Disclosure of financial assets transferred during period which do not qualify for derecognition [Line Items] | ||
Assets that entity continues to recognise | ₩ 40,029,000,000 | ₩ 170,256,000,000 |
Korean financial institution's debt securities and others | ||
Disclosure of financial assets transferred during period which do not qualify for derecognition [Line Items] | ||
Assets that entity continues to recognise | ₩ 40,029,000,000 | ₩ 0 |
Nature of financial assets transferred during period which do not qualify for derecognition | When the Group loans its securities to outside parties, the legal ownerships of the securities are transferred; however, they should be returned at the end of lending period. Therefore, the Group does not derecognize them from the financial statements as it owns majority of risks and benefits from the securities continuously, regardless of the transfer of legal ownership. | When the Group loans its securities to outside parties, the legal ownerships of the securities are transferred; however, they should be returned at the end of lending period. Therefore, the Group does not derecognize them from the financial statements as it owns majority of risks and benefits from the securities continuously, regardless of the transfer of legal ownership. |
Loaned to | Korea Securities Finance Corporation | Korea Securities Finance Corporation and others |
Korean treasury, government bonds and others | ||
Disclosure of financial assets transferred during period which do not qualify for derecognition [Line Items] | ||
Assets that entity continues to recognise | ₩ 0 | ₩ 170,256,000,000 |
Assets subject to lien and as_6
Assets subject to lien and assets acquired through foreclosures_Collaterals held that can be disposed and recollateralized regardless of defaults of counterparties (Details) - KRW (₩) | Dec. 31, 2018 | Dec. 31, 2017 |
Fair value of collateral available to sell or repledge and collateral sold or repledged [Line Items] | ||
Fair values of collaterals | ₩ 12,262,041,000,000 | ₩ 17,671,490,000,000 |
Fair values of collaterals were disposed or re-subjected to lien | ₩ 0 | ₩ 0 |
Other assets_Details of other a
Other assets_Details of other assets (Details) $ in Thousands | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) |
Other assests [Line Items] | |||
Total | ₩ 197,653,000,000 | $ 177,602 | ₩ 158,404,000,000 |
Prepaid expenses | |||
Other assests [Line Items] | |||
Total | 161,129,000,000 | 130,245,000,000 | |
Advance payments | |||
Other assests [Line Items] | |||
Total | 18,467,000,000 | 18,363,000,000 | |
Assets for non-business purpose | |||
Other assests [Line Items] | |||
Total | 0 | 376,000,000 | |
Others | |||
Other assests [Line Items] | |||
Total | ₩ 18,057,000,000 | ₩ 9,420,000,000 |
Financial liabilities at FVTPL_
Financial liabilities at FVTPL_Details of financial liabilities at FVTPL (Details) | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | |
Disclosure of financial liabilities at fair value through profit or loss [Line Items] | ||||
Financial liabilities at fair value through profit or loss mandatorily measured at fair value | ₩ 2,117,919,000,000 | ₩ 0 | ||
Financial liabilities held for trading | 3,176,113,000,000 | |||
Financial liabilities at fair value through profit or loss designated as upon initial recognition | 164,767,000,000 | 0 | ||
Financial liabilities designated at FVTPL (IAS 39) | 251,796,000,000 | |||
Financial liabilities at FVTPL | [1] | 2,282,686,000,000 | $ 2,051,115,000 | 0 |
Financial liabilities at fair value through profit or loss in accordance with IAS 39 | [1] | 0 | $ 0 | 3,427,909,000,000 |
Financial liabilities at fair value through profit or loss mandatorily measured at fair value | ||||
Disclosure of financial liabilities at fair value through profit or loss [Line Items] | ||||
Financial liabilities at fair value through profit or loss mandatorily measured at fair value | 2,117,919,000,000 | |||
Financial liabilities held for trading | 3,176,113,000,000 | |||
Gold banking liabilities | ||||
Disclosure of financial liabilities at fair value through profit or loss [Line Items] | ||||
Financial liabilities at fair value through profit or loss mandatorily measured at fair value | 27,058,000,000 | |||
Financial liabilities held for trading | 25,964,000,000 | |||
Derivative liabilities | ||||
Disclosure of financial liabilities at fair value through profit or loss [Line Items] | ||||
Financial liabilities at fair value through profit or loss mandatorily measured at fair value | 2,090,861,000,000 | |||
Financial liabilities held for trading | 3,150,149,000,000 | |||
Financial liabilities at fair value through profit or loss designated as upon initial recognition | ||||
Disclosure of financial liabilities at fair value through profit or loss [Line Items] | ||||
Financial liabilities at fair value through profit or loss designated as upon initial recognition | 164,767,000,000 | |||
Financial liabilities designated at FVTPL (IAS 39) | 251,796,000,000 | |||
Equity linked securities index in short position | ||||
Disclosure of financial liabilities at fair value through profit or loss [Line Items] | ||||
Financial liabilities at fair value through profit or loss designated as upon initial recognition | 164,767,000,000 | |||
Financial liabilities designated at FVTPL (IAS 39) | 160,057,000,000 | |||
Debentures in local currency | ||||
Disclosure of financial liabilities at fair value through profit or loss [Line Items] | ||||
Financial liabilities at fair value through profit or loss designated as upon initial recognition | ₩ 0 | |||
Financial liabilities designated at FVTPL (IAS 39) | ₩ 91,739,000,000 | |||
[1] | The consolidated statements of financial position as of December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of financial position as of December 31, 2017 were not retrospectively restated in accordance with IFRS 9. |
Financial liabilities at FVTP_2
Financial liabilities at FVTPL_Credit risk adjustments to financial liabilities at FVTPL (Details) - KRW (₩) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Designated financial liabilities at fair value through profit or loss [Abstract] | ||
Accumulated changes in credit risk adjustments | ₩ 0 | ₩ 0 |
Additional information about credit risk adjustments | The adjustment to reflect Group's credit risk is considered in measuring the fair value of equity-linked securities index and debentures. The Group's credit risk is determined by adjusting credit spread observed in credit rating of Group. | The adjustment to reflect Group's credit risk is considered in measuring the fair value of equity-linked securities index and debentures. The Group's credit risk is determined by adjusting credit spread observed in credit rating of Group. |
Financial liabilities at FVTP_3
Financial liabilities at FVTPL_Difference between carrying amount and nominal amount at maturity of financial liabilities at fair value through profit or loss designated as upon initial recognition (Details) - KRW (₩) | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of difference between carrying amount and nominal amountat maturityof financial liabilities at fair value through profit or loss designated as upon initial recognition [Abstract] | ||
Carrying amount | ₩ 164,767,000,000 | ₩ 0 |
Carrying amount Financial liabilities designated as at FVTPL (IAS39) | 251,796,000,000 | |
Nominal amount at maturity | 217,280,000,000 | 255,408,000,000 |
Difference | ₩ (52,513,000,000) | ₩ (3,612,000,000) |
Financial liabilities at FVTP_4
Financial liabilities at FVTPL_Capital fluctuation in financial liabilities at fair value through profit or loss designated as upon initial recognition (Details) ₩ in Millions | 12 Months Ended |
Dec. 31, 2018KRW (₩) | |
Disclosure of changes in equity in relation to financial liabilities at fair value through profit or loss designated as upon initial recognition [Abstract] | |
Equity-linked securities index | ₩ 4 |
The cumulative gain or loss realized as a result of the derecognition of financial liabilities designated as at FVTPL that is presented in other comprehensive income and transferred within equity 4 million (after income tax expense) Won for the year ended December 31, 2018. | ₩ 4 |
Deposits due to customers_Detai
Deposits due to customers_Details of deposits due to customers by type (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) |
Disclosure of deposits from customers [Line Items] | |||
Total | ₩ 248,690,939 | $ 223,462,071 | ₩ 234,695,084 |
Dicounted present value | |||
Disclosure of deposits from customers [Line Items] | |||
Total | (73,013) | (40,010) | |
Deposits in local currency | Gross carrying amount [Member] | |||
Disclosure of deposits from customers [Line Items] | |||
Total | 225,137,718 | 211,052,198 | |
Deposits on demand | Gross carrying amount [Member] | |||
Disclosure of deposits from customers [Line Items] | |||
Total | 11,076,417 | 9,349,070 | |
Deposits at termination | Gross carrying amount [Member] | |||
Disclosure of deposits from customers [Line Items] | |||
Total | 204,051,570 | 194,292,679 | |
Mutual instaillment | Gross carrying amount [Member] | |||
Disclosure of deposits from customers [Line Items] | |||
Total | 30,783 | 34,055 | |
Deposits on notes payables | Gross carrying amount [Member] | |||
Disclosure of deposits from customers [Line Items] | |||
Total | 1,891,556 | 1,323,679 | |
Deposits on CMA | Gross carrying amount [Member] | |||
Disclosure of deposits from customers [Line Items] | |||
Total | 137,316 | 164,431 | |
Customer Deposit For Security Investment | Gross carrying amount [Member] | |||
Disclosure of deposits from customers [Line Items] | |||
Total | 30,000 | 50,000 | |
Certificate of deposits | Gross carrying amount [Member] | |||
Disclosure of deposits from customers [Line Items] | |||
Total | 6,510,571 | 4,436,443 | |
Other deposits | Gross carrying amount [Member] | |||
Disclosure of deposits from customers [Line Items] | |||
Total | 1,409,505 | 1,401,841 | |
Deposits in foreign currencies | Gross carrying amount [Member] | |||
Disclosure of deposits from customers [Line Items] | |||
Total | ₩ 23,626,234 | ₩ 23,682,896 |
Borrowings and debentures_Detai
Borrowings and debentures_Details of borrowings (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2018KRW (₩) | Dec. 31, 2017KRW (₩) | Dec. 31, 2018USD ($) | |
Disclosure of detailed information about borrowings [Line Items] | |||
Total | ₩ 16,202,986 | ₩ 14,784,706 | $ 14,559,247 |
Present value discount [Member] | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Present Value Discount | (84) | (165) | |
Borrowings in local currency | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Notional Amount | 7,823,069 | 7,084,848 | |
Borrowings from The BOK | Total | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Notional Amount | ₩ 1,335,459 | ₩ 1,404,087 | |
Lenders | The BOK | The BOK | |
Borrowings from The BOK | Total | Bottom of range [Member] | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Interest rate | 0.50% | 0.50% | 0.50% |
Borrowings from The BOK | Total | Top of range [Member] | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Interest rate | 0.80% | 0.80% | 0.80% |
Small Enterprise And Market Service and others | Total | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Notional Amount | ₩ 1,771,379 | ₩ 1,723,340 | |
Lenders | Small Enterprise And Market Service and others | Small Enterprise And Market Service and others | |
Small Enterprise And Market Service and others | Total | Bottom of range [Member] | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Interest rate | 0.00% | 0.00% | 0.00% |
Small Enterprise And Market Service and others | Total | Top of range [Member] | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Interest rate | 3.50% | 2.90% | 3.50% |
The Korea Development Bank and others | Total | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Notional Amount | ₩ 4,716,231 | ₩ 3,957,421 | |
Lenders | The Korea Development Bank and others | The Korea Development Bank and others | |
The Korea Development Bank and others | Total | Bottom of range [Member] | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Interest rate | 0.00% | 0.00% | 0.00% |
The Korea Development Bank and others | Total | Top of range [Member] | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Interest rate | 4.00% | 3.20% | 4.00% |
Borrowings in foreign currency | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Notional Amount | ₩ 7,342,400 | ₩ 7,024,836 | |
The Export-Import Bank of Korea and others | Total | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Notional Amount | ₩ 7,308,857 | ₩ 6,996,551 | |
Lenders | The Export-Import Bank of Korea and others | The Export-Import Bank of Korea and others | |
The Export-Import Bank of Korea and others | Total | Bottom of range [Member] | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Interest rate | 0.00% | 0.00% | 0.00% |
The Export-Import Bank of Korea and others | Total | Top of range [Member] | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Interest rate | 7.50% | 6.80% | 7.50% |
JP Morgan Chase Bank | Total | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Notional Amount | ₩ 33,543 | ||
Lenders | JPMORGAN CHASE BANK | ||
JP Morgan Chase Bank | Total | Top of range [Member] | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Interest rate | 2.90% | 2.90% | |
Commonwealth Bank | Total | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Lenders | Commonwealth Bank | ||
Commonwealth Bank | Total | Top of range [Member] | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Notional Amount | ₩ 28,285 | ||
Interest rate | 1.80% | ||
Bills sold | Total | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Notional Amount | ₩ 19,336 | ₩ 36,953 | |
Lenders | Others | Others | |
Bills sold | Total | Bottom of range [Member] | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Interest rate | 0.00% | 0.00% | 0.00% |
Bills sold | Total | Top of range [Member] | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Interest rate | 1.80% | 1.20% | 1.80% |
Call money | Total | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Notional Amount | ₩ 975,358 | ₩ 635,061 | |
Lenders | Bank and others | Bank and others | |
Call money | Total | Bottom of range [Member] | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Interest rate | 0.00% | 1.50% | 0.00% |
Call money | Total | Top of range [Member] | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Interest rate | 7.30% | 2.70% | 7.30% |
Bonds sold under repurchase agreements | Total | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Notional Amount | ₩ 42,907 | ₩ 3,173 | |
Lenders | Other financial institutions | Other financial institutions | |
Bonds sold under repurchase agreements | Total | Bottom of range [Member] | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Interest rate | 0.80% | 0.60% | 0.80% |
Bonds sold under repurchase agreements | Total | Top of range [Member] | |||
Disclosure of detailed information about borrowings [Line Items] | |||
Interest rate | 12.70% | 12.70% | 12.70% |
Borrowings and debentures_Det_2
Borrowings and debentures_Details of debentures (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2018KRW (₩) | Dec. 31, 2017KRW (₩) | Dec. 31, 2018USD ($) | ||
Disclosure of detailed information about debentures [Line Items] | ||||
Total | ₩ 28,735,862 | ₩ 27,869,651 | $ 25,820,704 | |
Fair value hedged amount of debentures | 2,956,565 | 3,089,751 | ||
Cash flow hedged amount of debentures | 823,219 | 694,548 | ||
Discounts on bond | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Total | (29,389) | (30,173) | ||
Face value of bond | Gross carrying amount [Member] | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Total | [1] | 28,765,251 | 27,899,824 | |
Ordinary bonds | Gross carrying amount [Member] | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Total | [1] | ₩ 22,432,183 | ₩ 22,468,908 | |
Ordinary bonds | Gross carrying amount [Member] | Bottom of range [Member] | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Interest rate | 1.60% | 1.50% | ||
Ordinary bonds | Gross carrying amount [Member] | Top of range [Member] | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Interest rate | 4.50% | 5.80% | ||
Subordinated bonds | Gross carrying amount [Member] | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Total | [1] | ₩ 5,358,838 | ₩ 4,781,301 | |
Subordinated bonds | Gross carrying amount [Member] | Bottom of range [Member] | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Interest rate | 3.00% | 3.40% | ||
Subordinated bonds | Gross carrying amount [Member] | Top of range [Member] | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Interest rate | 12.60% | 12.60% | ||
Other bonds | Gross carrying amount [Member] | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Total | [1] | ₩ 974,230 | ₩ 649,615 | |
Other bonds | Gross carrying amount [Member] | Bottom of range [Member] | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Interest rate | 1.90% | 1.60% | ||
Other bonds | Gross carrying amount [Member] | Top of range [Member] | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Interest rate | 17.00% | 17.00% | ||
[1] | Includes debentures under fair value hedge amounting to 3,089,751 million Won and 2,956,565 million Won as of December 31, 2017 and 2018, respectively. Also, debentures under cash flow hedge amounting to 694,548 million Won and 823,219 million Won are included as of December 31, 2017 and 2018, respectively. |
Provisions_Details of provision
Provisions_Details of provisions (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2018KRW (₩) | Dec. 31, 2017KRW (₩) | Dec. 31, 2018USD ($) | ||
Disclosure of other provisions [Line Items] | ||||
Provisions | ₩ 391,313 | ₩ 410,470 | $ 351,616 | |
Asset retirement obligation | ||||
Disclosure of other provisions [Line Items] | ||||
Provisions | 67,200 | 61,872 | ||
Provision for guarantee | ||||
Disclosure of other provisions [Line Items] | ||||
Provisions | [1] | ₩ 89,761 | ₩ 183,247 | |
Description of nature of provisions for guarantee | [1] | Provisions for guarantees include provision for financial guarantee of 71,697 million Won and 47,817 million Won as of December 31, 2017 and 2018, respectively. | Provisions for guarantees include provision for financial guarantee of 71,697 million Won and 47,817 million Won as of December 31, 2017 and 2018, respectively. | |
Provision for financial guarantee contract | ₩ 47,817 | ₩ 71,697 | ||
Provisions for unused loan commitments | ||||
Disclosure of other provisions [Line Items] | ||||
Provisions | 121,535 | 66,115 | ||
Provisions for customer reward credits | ||||
Disclosure of other provisions [Line Items] | ||||
Provisions | 49,180 | 40,445 | ||
Other provisions | ||||
Disclosure of other provisions [Line Items] | ||||
Provisions | [2] | ₩ 63,637 | ₩ 58,791 | |
Description of nature of miscellaneous other provisions | [2] | Other prov isions consist of provision for litigation and others. | Other provisions consist of provision for litigation and others. | |
[1] | Provisions for guarantees include provision for financial guarantee of 71,697 million Won and 47,817 million Won as of December 31, 2017 and 2018, respectively. | |||
[2] | Other provisions consist of provision for litigation and others. |
Provisions_Details of provisi_2
Provisions_Details of provisions for guarantee (Details) - KRW (₩) | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Reconciliation of changes in provisions for payment guarantee [Abstract] | |||||
Beginning balance | [1] | ₩ 192,924,000,000 | |||
Beginning balance | 183,247,000,000 | ₩ 238,117,000,000 | ₩ 364,141,000,000 | ||
Changes in provisions for payment guarantee [Abstract] | |||||
Replaced by 12-month expected credit loss | 0 | ||||
Replaced with expected credit loss for the entire period | 0 | ||||
Replaced with credit-impaired financial assets | 0 | ||||
Provisions provided | 4,876,000,000 | 4,281,000,000 | |||
Provisions used | (20,429,000,000) | (24,898,000,000) | (80,017,000,000) | ||
Net reversal of unused amount | (105,985,000,000) | (60,300,000,000) | (64,061,000,000) | ||
Foreign currencies translation adjustments | 9,000,000 | 0 | |||
Others | 23,251,000,000 | [2] | 25,443,000,000 | 13,773,000,000 | |
Ending balance | 89,761,000,000 | ₩ 183,247,000,000 | ₩ 238,117,000,000 | ||
Stage 1 | |||||
Reconciliation of changes in provisions for payment guarantee [Abstract] | |||||
Beginning balance | [1] | 47,132,000,000 | |||
Changes in provisions for payment guarantee [Abstract] | |||||
Replaced by 12-month expected credit loss | 92,000,000 | ||||
Replaced with expected credit loss for the entire period | (237,000,000) | ||||
Replaced with credit-impaired financial assets | (38,000,000) | ||||
Provisions used | (20,429,000,000) | ||||
Net reversal of unused amount | (4,866,000,000) | ||||
Others | [2] | 23,249,000,000 | |||
Ending balance | 44,903,000,000 | ||||
Stage 2 | |||||
Reconciliation of changes in provisions for payment guarantee [Abstract] | |||||
Beginning balance | [1] | 18,281,000,000 | |||
Changes in provisions for payment guarantee [Abstract] | |||||
Replaced by 12-month expected credit loss | (92,000,000) | ||||
Replaced with expected credit loss for the entire period | 91,008,000,000 | ||||
Replaced with credit-impaired financial assets | (29,000,000) | ||||
Provisions used | 0 | ||||
Net reversal of unused amount | (75,410,000,000) | ||||
Others | [2] | 2,000,000 | |||
Ending balance | 33,760,000,000 | ||||
Stage 3 | |||||
Reconciliation of changes in provisions for payment guarantee [Abstract] | |||||
Beginning balance | [1] | 127,511,000,000 | |||
Changes in provisions for payment guarantee [Abstract] | |||||
Replaced by 12-month expected credit loss | 0 | ||||
Replaced with expected credit loss for the entire period | (90,771,000,000) | ||||
Replaced with credit-impaired financial assets | 67,000,000 | ||||
Provisions used | 0 | ||||
Net reversal of unused amount | (25,709,000,000) | ||||
Others | [2] | 0 | |||
Ending balance | ₩ 11,098,000,000 | ||||
[1] | The beginning balance was restated in accordance with IFRS 9. | ||||
[2] | This is the effect of new financial guarantee contracts that are initially measured at fair value. |
Provisions_Details of provisi_3
Provisions_Details of provisions for unused commitment (Details) - KRW (₩) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Reconciliation of changes in provisions for credit commitment [Abstract] | ||||
Beginning balance | [1] | ₩ 104,985,000,000 | ||
Beginning balance | 66,115,000,000 | ₩ 87,909,000,000 | ₩ 85,313,000,000 | |
Changes in provisions for credit commitment [Abstract] | ||||
Replaced by 12-month expected credit loss | 0 | |||
Replaced with expected credit loss for the entire period | 0 | |||
Replaced with credit-impaired financial assets | 0 | |||
Provisions provided | 2,028,000,000 | 8,502,000,000 | ||
Provisions used | 0 | (68,000,000) | 22,000,000 | |
Net reversal of unused amount | 16,526,000,000 | (23,744,000,000) | (5,409,000,000) | |
Foreign currencies translation adjustments | (10,000,000) | (519,000,000) | ||
Others | 24,000,000 | |||
Ending balance | 121,535,000,000 | ₩ 66,115,000,000 | ₩ 87,909,000,000 | |
Stage 1 | ||||
Reconciliation of changes in provisions for credit commitment [Abstract] | ||||
Beginning balance | [1] | 75,232,000,000 | ||
Changes in provisions for credit commitment [Abstract] | ||||
Replaced by 12-month expected credit loss | 7,770,000,000 | |||
Replaced with expected credit loss for the entire period | (2,376,000,000) | |||
Replaced with credit-impaired financial assets | (213,000,000) | |||
Provisions used | 0 | |||
Net reversal of unused amount | (5,813,000,000) | |||
Others | 24,000,000 | |||
Ending balance | 74,624,000,000 | |||
Stage 2 | ||||
Reconciliation of changes in provisions for credit commitment [Abstract] | ||||
Beginning balance | [1] | 27,875,000,000 | ||
Changes in provisions for credit commitment [Abstract] | ||||
Replaced by 12-month expected credit loss | (7,396,000,000) | |||
Replaced with expected credit loss for the entire period | 2,525,000,000 | |||
Replaced with credit-impaired financial assets | (1,579,000,000) | |||
Provisions used | 0 | |||
Net reversal of unused amount | 23,860,000,000 | |||
Others | 0 | |||
Ending balance | 45,285,000,000 | |||
Stage 3 | ||||
Reconciliation of changes in provisions for credit commitment [Abstract] | ||||
Beginning balance | [1] | 1,878,000,000 | ||
Changes in provisions for credit commitment [Abstract] | ||||
Replaced by 12-month expected credit loss | (374,000,000) | |||
Replaced with expected credit loss for the entire period | (149,000,000) | |||
Replaced with credit-impaired financial assets | 1,792,000,000 | |||
Provisions used | 0 | |||
Net reversal of unused amount | (1,521,000,000) | |||
Others | 0 | |||
Ending balance | ₩ 1,626,000,000 | |||
[1] | The beginning balance was restated in accordance with IFRS 9. |
Provisions_Changes in asset ret
Provisions_Changes in asset retirement obligation (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Reconciliation of changes in provision for decommissioning restoration and rehabilitation costs [Abstract] | |||
Beginning balance | ₩ 61,872 | ₩ 58,076 | ₩ 39,121 |
Changes in provision for decommissioning restoration and rehabilitation costs [Abstract] | |||
Provisions provided | 1,489 | 2,225 | 2,034 |
Provisions used | (913) | (1,283) | (1,279) |
Reversal of provisions unused | (1,038) | (733) | 464 |
Amortization | 564 | 428 | (1) |
Increase in restoration costs and others | 5,226 | 3,159 | 17,737 |
Ending balance | ₩ 67,200 | ₩ 61,872 | ₩ 58,076 |
Description of nature of obligation, other provisions | The amount of the asset retirement obligation is the present value of the best estimate of future expected expenditure to settle the obligation - arising from leased premises as of December 31, 2018, discounted by appropriate discount rate. | ||
Description of expected timing of outflows, other provisions | The restoration cost is expected to occur by the end of each premise's lease period, and the Group has used average lease period of each category of leases terminated during the past years in order to rationally estimate the lease period. | ||
Description of major assumptions made concerning future events, other provisions | In addition, the Group used average amount of actual recovery cost for the past 3 years and the inflation rate for last year in order to estimate future recovery cost. |
Provisions_Changes in other pro
Provisions_Changes in other provisions (Details) - KRW (₩) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Other provisions except for provision for decommissioning restoration and rehabilitation costs [Member] | ||||
Reconciliation of changes in other provisions [Abstract] | ||||
Beginning balance | ₩ 99,236,000,000 | ₩ 44,375,000,000 | ₩ 28,026,000,000 | |
Changes in other provisions [Abstract] | ||||
Provisions provided | 78,522,000,000 | 104,635,000,000 | 31,559,000,000 | |
Provisions used | (105,110,000,000) | (92,993,000,000) | (19,481,000,000) | |
Reversal of unused amount | (52,000,000) | (77,000,000) | 0 | |
Foreign currencies translation adjustments | (194,000,000) | (249,000,000) | 2,990,000,000 | |
Transfer | [1] | 9,228,000,000 | 21,808,000,000 | 503,000,000 |
Others | 31,187,000,000 | 21,737,000,000 | 778,000,000 | |
Ending balance | 112,817,000,000 | 99,236,000,000 | 44,375,000,000 | |
Provisions for customer reward credits | ||||
Reconciliation of changes in other provisions [Abstract] | ||||
Beginning balance | 40,445,000,000 | 22,093,000,000 | 5,445,000,000 | |
Changes in other provisions [Abstract] | ||||
Provisions provided | 70,138,000,000 | 62,593,000,000 | 23,525,000,000 | |
Provisions used | (98,170,000,000) | (84,979,000,000) | (8,158,000,000) | |
Reversal of unused amount | 0 | 0 | 0 | |
Foreign currencies translation adjustments | 0 | 0 | 0 | |
Transfer | [1] | 9,228,000,000 | 21,808,000,000 | 503,000,000 |
Others | 27,539,000,000 | 18,930,000,000 | 778,000,000 | |
Ending balance | ₩ 49,180,000,000 | ₩ 40,445,000,000 | ₩ 22,093,000,000 | |
Explanation of increase (decrease) through transfer other provisions | [1] | As the credits of the affiliates were transferred to the Group, the allowance for the provisions for customer reward credits increased for the years ended December 31, 2016. 2017 and 2018, respectively. | As the credits of the affiliates were transferred to the Group, the allowance for the provisions for customer reward credits increased for the years ended December 31, 2016. 2017 and 2018, respectively. | As the credits of the affiliates were transferred to the Group, the allowance for the provisions for customer reward credits increased for the years ended December 31, 2016. 2017 and 2018, respectively. |
Other provisions | ||||
Reconciliation of changes in other provisions [Abstract] | ||||
Beginning balance | ₩ 58,791,000,000 | ₩ 22,282,000,000 | ₩ 22,581,000,000 | |
Changes in other provisions [Abstract] | ||||
Provisions provided | 8,384,000,000 | 42,042,000,000 | 8,034,000,000 | |
Provisions used | (6,940,000,000) | (8,014,000,000) | (11,323,000,000) | |
Reversal of unused amount | (52,000,000) | (77,000,000) | 0 | |
Foreign currencies translation adjustments | (194,000,000) | (249,000,000) | 2,990,000,000 | |
Transfer | [1] | 0 | 0 | 0 |
Others | 3,648,000,000 | 2,807,000,000 | 0 | |
Ending balance | ₩ 63,637,000,000 | ₩ 58,791,000,000 | ₩ 22,282,000,000 | |
[1] | As the credits of the affiliates were transferred to the Group, the allowance for the provisions for customer reward credits increased for the years ended December 31, 2016. 2017 and 2018, respectively. |
Provisions_Others (Details)
Provisions_Others (Details) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of contingent liabilities [Abstract] | |
Description of nature of obligation, contingent liabilities | The Group provides settlement services for payments in Korean Won to facilitate trade transactions between Korea and Iran. In connection with these services, the Group is currently being investigated by US government agencies including US prosecutors (United States Attorney's Office and New York State Attorney General's Office) as to whether the Group has violated United States laws by participating in prohibited transactions involving the following countries: Iran, Sudan, Syria and Cuba, which have been sanctioned by the US. |
Net defined benefits liability_
Net defined benefits liability_Details of net defined benefit liability (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of defined benefit plans [Abstract] | ||
Description of type of retirement benefit plan | Employees and directors with one or more years of service are entitled to receive a payment upon termination of their employment, based on their length of service and rate of pay at the time of termination. | Employees and directors with one or more years of service are entitled to receive a payment upon termination of their employment, based on their length of service and rate of pay at the time of termination. |
Description of nature of benefits provided by plan | The assets of the plans are measured at their fair value at the end of reporting date. | The assets of the plans are measured at their fair value at the end of reporting date. |
Description of significant actuarial assumptions made and method used to calculate actuarial present value of promised retirement benefits | The plan liabilities are measured using the projected unit method, which takes account of projected earnings increases, using actuarial assumptions that give the best estimate of the future cash flows that will arise under the plan liabilities. | The plan liabilities are measured using the projected unit method, which takes account of projected earnings increases, using actuarial assumptions that give the best estimate of the future cash flows that will arise under the plan liabilities. |
Description of risks to which plan exposes entity | The Group is exposed to various risks through defined benefit retirement pension plan, and the most significant risks are as follows: Volatility of asset The defined benefit obligation was estimated with an interest rate calculated based on blue chip corporate bonds earnings. A deficit may occur if the rate of return of plan assets falls short of the interest rate. Decrease in profitability of blue chip bonds A decrease in profitability of blue chip bonds will be offset by some increase in the value of debt securities that the employee benefit plan owns but will bring an increase in the defined benefit obligation. Risk of inflation Defined benefit obligations are related to inflation rate; the higher the inflation rate is, the higher the level of liabilities. Therefore, deficit occurs in the system if an inflation rate increases. | The Group is exposed to various risks through defined benefit retirement pension plan, and the most significant risks are as follows: Volatility of asset The defined benefit obligation was estimated with an interest rate calculated based on blue chip corporate bonds earnings. A deficit may occur if the rate of return of plan assets falls short of the interest rate. Decrease in profitability of blue chip bonds A decrease in profitability of blue chip bonds will be offset by some increase in the value of debt securities that the employee benefit plan owns but will bring an increase in the defined benefit obligation. Risk of inflation Defined benefit obligations are related to inflation rate; the higher the inflation rate is, the higher the level of liabilities. Therefore, deficit occurs in the system if an inflation rate increases. |
Surplus deficit in plan [Abstract] | ||
Present value of defined benefit obligation | ₩ 1,275,020 | ₩ 1,071,170 |
Fair value of plan assets | (1,101,911) | (1,027,906) |
Net defined benefit liability | ₩ 173,109 | ₩ 43,264 |
Net defined benefits liabilit_3
Net defined benefits liability_Changes in the carrying value of defined benefit obligation and the plan assets (Details) - KRW (₩) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of net defined benefit liability asset [Line Items] | |||
Beginning balance | ₩ 43,264,000,000 | ||
Changes in net defined benefit liability asset [Abstract] | |||
Current service cost | 144,394,000,000 | ₩ 146,750,000,000 | ₩ 153,660,000,000 |
Interest expense(income) | (1,682,000,000) | (3,972,000,000) | (712,000,000) |
Remeasurements | (115,637,000,000) | 6,264,000,000 | 45,098,000,000 |
Curtailment or settlement | 0 | (124,000,000) | 339,000,000 |
Ending balance | 173,109,000,000 | 43,264,000,000 | |
Present value of defined benefit obligation | |||
Disclosure of net defined benefit liability asset [Line Items] | |||
Beginning balance | 1,071,170,000,000 | 984,381,000,000 | 901,219,000,000 |
Changes in net defined benefit liability asset [Abstract] | |||
Current service cost | 144,394,000,000 | 146,750,000,000 | 153,660,000,000 |
Interest expense(income) | 32,143,000,000 | 26,629,000,000 | 24,326,000,000 |
Remeasurements | 100,854,000,000 | (20,389,000,000) | (52,402,000,000) |
Foreign currencies translation adjustments | (3,000,000) | (279,000,000) | 80,000,000 |
Retirement benefit paid | (74,952,000,000) | (55,552,000,000) | (34,346,000,000) |
Curtailment or settlement | 0 | (10,928,000,000) | (9,536,000,000) |
Others | 1,414,000,000 | 558,000,000 | 1,380,000,000 |
Ending balance | 1,275,020,000,000 | 1,071,170,000,000 | 984,381,000,000 |
Fair value of plan assets | |||
Disclosure of net defined benefit liability asset [Line Items] | |||
Beginning balance | 1,027,906,000,000 | 990,653,000,000 | 801,528,000,000 |
Changes in net defined benefit liability asset [Abstract] | |||
Interest expense(income) | 33,825,000,000 | 30,601,000,000 | 25,038,000,000 |
Remeasurements | (14,783,000,000) | (14,125,000,000) | (7,304,000,000) |
Employer's contributions | 128,926,000,000 | 43,114,000,000 | 226,752,000,000 |
Retirement benefit paid | (71,672,000,000) | (51,877,000,000) | (33,341,000,000) |
Curtailment or settlement | 0 | (11,052,000,000) | (9,198,000,000) |
Others | (2,291,000,000) | 40,592,000,000 | (12,822,000,000) |
Ending balance | ₩ 1,101,911,000,000 | ₩ 1,027,906,000,000 | ₩ 990,653,000,000 |
Net defined benefits liabilit_4
Net defined benefits liability_Fair value of plan assets (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of fair value of plan assets [Abstract] | |||
Return on plan assets, net defined benefit liability (asset) | ₩ 19,042 | ₩ 16,476 | ₩ 17,734 |
Estimate of contributions expected to be paid to plan | ₩ 161,571 |
Net defined benefits liabilit_5
Net defined benefits liability_Current service cost net interest expense income past service cost loss gain on the curtailment or settlement and loss gain due to remeasurements (Details) - KRW (₩) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Postemployment benefit expense defined benefit plans [Abstract] | |||
Current service cost | ₩ 144,394,000,000 | ₩ 146,750,000,000 | ₩ 153,660,000,000 |
Net interest income | (1,682,000,000) | (3,972,000,000) | (712,000,000) |
Loss on the curtailment or settlement | 0 | 124,000,000 | (339,000,000) |
Cost recognized in net income | 142,712,000,000 | 142,902,000,000 | 152,609,000,000 |
Remeasurements | 115,637,000,000 | (6,264,000,000) | (45,098,000,000) |
Cost recognized in total comprehensive income | 258,349,000,000 | 136,638,000,000 | 107,511,000,000 |
Retirement benefit service costs defined contribution plans | ₩ 2,437,000,000 | ₩ 3,946,000,000 | ₩ 3,747,000,000 |
Net defined benefits liabilit_6
Net defined benefits liability_Key actuarial assumptions used in defined benefit liability assessment (Details) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of actuarial assumptions [Abstract] | |||
Discount rate | 2.69% | 3.18% | 2.85% |
Future wage growth rate | 6.18% | 6.18% | 6.05% |
Mortality rate | Issued by Korea Insurance Development Institute | Issued by Korea Insurance Development Institute | Issued by Korea Insurance Development Institute |
Retirement rate | Experience rate for each employment classification | Experience rate for each employment classification | Experience rate for each employment classification |
Weighted average maturity of defined benefit liability | 8.05 ~ 13.21 years |
Net defined benefits liabilit_7
Net defined benefits liability_Sensitivity to actuarial assumptions used in the assessment of defined benefit obligation (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Discount rate | Increase by 1% point | |||
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |||
Increase in defined benefit obligation due to reasonably possible increase in actuarial assumption | [1] | ₩ (116,812) | ₩ (116,405) |
Discount rate | Decrease by 1% point | |||
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |||
Decrease in defined benefit obligation due to reasonably possible decrease in actuarial assumption | [1] | 136,990 | 137,151 |
Future wage growth rate | Increase by 1% point | |||
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |||
Increase in defined benefit obligation due to reasonably possible increase in actuarial assumption | [1] | 135,767 | 136,707 |
Future wage growth rate | Decrease by 1% point | |||
Disclosure of sensitivity analysis for actuarial assumptions [Line Items] | |||
Decrease in defined benefit obligation due to reasonably possible decrease in actuarial assumption | [1] | ₩ (118,020) | ₩ (117,765) |
[1] | The above sensitivity analyses are based on a change in an assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated. The sensitivity of the defined benefit obligation to changes in principal actuarial assumptions is calculated using the projected unit credit method, the same method applied when calculating the defined benefit obligations recognized on the statement of financial position. |
Other financial liabilities a_3
Other financial liabilities and other liabilities_Details of other financial liabilities and other liabilities (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) |
Other financial liabilities and other liabilities [Line Items] | |||
Total of other financial liabilities | ₩ 21,442,524 | $ 19,267,251 | ₩ 13,892,461 |
Other liabilities | 346,078 | $ 310,969 | 283,981 |
Total of other financial liabilities and other liabilities | 21,788,602 | 14,176,442 | |
Dicounted present value | |||
Other financial liabilities and other liabilities [Line Items] | |||
Total of other financial liabilities | (2,484) | (1,597) | |
Accounts payable | Gross carrying amount [Member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Total of other financial liabilities | 5,409,268 | 4,692,320 | |
Accrued expenses | Gross carrying amount [Member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Total of other financial liabilities | 2,224,330 | 2,049,861 | |
Borrowings from trust accounts | Gross carrying amount [Member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Total of other financial liabilities | 3,747,492 | 3,271,817 | |
Agency business revenue | Gross carrying amount [Member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Total of other financial liabilities | 396,735 | 344,591 | |
Domestic exchange settlement credits | Gross carrying amount [Member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Total of other financial liabilities | 7,134,966 | 1,309,646 | |
Foreign exchange payables | Gross carrying amount [Member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Total of other financial liabilities | 539,554 | 590,667 | |
Other miscellaneous financial liabilities | Gross carrying amount [Member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Total of other financial liabilities | 1,992,663 | 1,635,156 | |
Unearned Income | Gross carrying amount [Member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Other liabilities | 204,034 | 180,664 | |
Other miscellaneous liabilities | Gross carrying amount [Member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Other liabilities | ₩ 142,044 | ₩ 103,317 |
Derivatives_Details of derivati
Derivatives_Details of derivative assets and derivative liabilities (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | |
Disclosure of detailed information about hedging instruments [Line Items] | |||
Nominal amount | ₩ 324,409,462,000,000 | ₩ 268,733,330,000,000 | |
Derivative assets (Designated for hedging) | 35,503,000,000 | $ 31,901 | 59,272,000,000 |
Derivative liabilities for hedging | ₩ 51,408,000,000 | $ 46,193 | 67,754,000,000 |
Description of other information of derivatives held for trading and hedging | Derivatives held for trading are classified into financial assets at FVTPL (Note 7) and financial liabilities at FVTPL (Note 20), and derivatives designated for hedging are presented as a separate line item in the consolidated statements of financial position. | ||
For fair value hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets (Designated for hedging) | ₩ 35,503,000,000 | 59,272,000,000 | |
Derivative liabilities for hedging | 17,654,000,000 | 12,103,000,000 | |
For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative liabilities for hedging | 33,754,000,000 | 55,651,000,000 | |
For trading | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets for trading | 2,026,079,000,000 | 3,115,774,000,000 | |
Derivative liabilities for trading | 2,090,861,000,000 | 3,150,149,000,000 | |
Interest rate futures | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Nominal amount | 0 | 75,845,000,000 | |
Interest rate futures | For fair value hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets (Designated for hedging) | 0 | 0 | |
Derivative liabilities for hedging | 0 | 0 | |
Interest rate futures | For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative liabilities for hedging | 0 | 0 | |
Interest rate futures | For trading | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets for trading | 0 | 0 | |
Derivative liabilities for trading | 0 | 0 | |
Interest rate swap | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Nominal amount | 150,710,490,000,000 | 130,197,378,000,000 | |
Interest rate swap | For fair value hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets (Designated for hedging) | 35,503,000,000 | 59,272,000,000 | |
Derivative liabilities for hedging | 17,654,000,000 | 12,103,000,000 | |
Interest rate swap | For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative liabilities for hedging | 665,000,000 | 0 | |
Interest rate swap | For trading | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets for trading | 218,140,000,000 | 223,935,000,000 | |
Derivative liabilities for trading | 266,207,000,000 | 253,972,000,000 | |
Interest rate options | Long [Member] | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Nominal amount | 530,000,000,000 | 630,000,000,000 | |
Interest rate options | Long [Member] | For fair value hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets (Designated for hedging) | 0 | ||
Derivative liabilities for hedging | 0 | ||
Interest rate options | Long [Member] | For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative liabilities for hedging | 0 | ||
Interest rate options | Long [Member] | For trading | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets for trading | 10,461,000,000 | 12,346,000,000 | |
Derivative liabilities for trading | 0 | ||
Interest rate options | Short [Member] | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Nominal amount | 525,000,000,000 | 795,000,000,000 | |
Interest rate options | Short [Member] | For fair value hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets (Designated for hedging) | 0 | ||
Derivative liabilities for hedging | 0 | ||
Interest rate options | Short [Member] | For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative liabilities for hedging | 0 | ||
Interest rate options | Short [Member] | For trading | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets for trading | 0 | ||
Derivative liabilities for trading | 12,438,000,000 | 12,869,000,000 | |
Currency futures | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Nominal amount | 320,213,000,000 | 318,217,000,000 | |
Currency futures | For fair value hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets (Designated for hedging) | 0 | ||
Derivative liabilities for hedging | 0 | ||
Currency futures | For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative liabilities for hedging | 0 | ||
Currency futures | For trading | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets for trading | 0 | ||
Derivative liabilities for trading | 0 | ||
Currency forward | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Nominal amount | 88,376,776,000,000 | 72,526,956,000,000 | |
Currency forward | For fair value hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets (Designated for hedging) | 0 | ||
Derivative liabilities for hedging | 0 | ||
Currency forward | For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative liabilities for hedging | 0 | ||
Currency forward | For trading | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets for trading | 843,621,000,000 | 1,314,368,000,000 | |
Derivative liabilities for trading | 777,039,000,000 | 1,375,799,000,000 | |
Currency swap | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Nominal amount | 67,179,195,000,000 | 48,176,306,000,000 | |
Currency swap | For fair value hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets (Designated for hedging) | 0 | ||
Derivative liabilities for hedging | 0 | ||
Currency swap | For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative liabilities for hedging | 33,089,000,000 | 55,651,000,000 | |
Currency swap | For trading | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets for trading | 761,907,000,000 | 1,352,924,000,000 | |
Derivative liabilities for trading | 773,701,000,000 | 1,347,905,000,000 | |
Currency option | Long [Member] | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Nominal amount | 1,933,454,000,000 | 2,291,154,000,000 | |
Currency option | Long [Member] | For fair value hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets (Designated for hedging) | 0 | ||
Derivative liabilities for hedging | 0 | ||
Currency option | Long [Member] | For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative liabilities for hedging | 0 | ||
Currency option | Long [Member] | For trading | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets for trading | 17,544,000,000 | 64,267,000,000 | |
Derivative liabilities for trading | 0 | ||
Currency option | Short [Member] | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Nominal amount | 3,134,774,000,000 | 4,038,237,000,000 | |
Currency option | Short [Member] | For fair value hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets (Designated for hedging) | 0 | ||
Derivative liabilities for hedging | 0 | ||
Currency option | Short [Member] | For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative liabilities for hedging | 0 | ||
Currency option | Short [Member] | For trading | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets for trading | 0 | ||
Derivative liabilities for trading | 20,747,000,000 | 58,687,000,000 | |
Equity futures | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Nominal amount | 186,737,000,000 | 91,436,000,000 | |
Equity futures | For fair value hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets (Designated for hedging) | 0 | ||
Derivative liabilities for hedging | 0 | ||
Equity futures | For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative liabilities for hedging | 0 | ||
Equity futures | For trading | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets for trading | 0 | ||
Derivative liabilities for trading | 0 | ||
Equity swap | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Nominal amount | 441,573,000,000 | 15,000,000,000 | |
Equity swap | For fair value hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets (Designated for hedging) | 0 | ||
Derivative liabilities for hedging | 0 | ||
Equity swap | For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative liabilities for hedging | 0 | ||
Equity swap | For trading | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets for trading | 31,377,000,000 | 103,000,000 | |
Derivative liabilities for trading | 1,217,000,000 | 10,000,000 | |
Equity option | Long [Member] | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Nominal amount | 4,925,315,000,000 | 5,060,706,000,000 | |
Equity option | Long [Member] | For fair value hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets (Designated for hedging) | 0 | ||
Derivative liabilities for hedging | 0 | ||
Equity option | Long [Member] | For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative liabilities for hedging | 0 | ||
Equity option | Long [Member] | For trading | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets for trading | 143,029,000,000 | 146,775,000,000 | |
Derivative liabilities for trading | 0 | ||
Equity option | Short [Member] | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Nominal amount | 6,145,935,000,000 | 4,504,290,000,000 | |
Equity option | Short [Member] | For fair value hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets (Designated for hedging) | 0 | ||
Derivative liabilities for hedging | 0 | ||
Equity option | Short [Member] | For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative liabilities for hedging | 0 | ||
Equity option | Short [Member] | For trading | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets for trading | 0 | ||
Derivative liabilities for trading | ₩ 239,512,000,000 | 99,770,000,000 | |
Other futures | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Nominal amount | 0 | ||
Other futures | For fair value hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets (Designated for hedging) | 0 | ||
Derivative liabilities for hedging | 0 | ||
Other futures | For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative liabilities for hedging | 0 | ||
Other futures | For trading | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets for trading | 0 | ||
Derivative liabilities for trading | 0 | ||
Other swap | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Nominal amount | 7,805,000,000 | ||
Other swap | For fair value hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets (Designated for hedging) | 0 | ||
Derivative liabilities for hedging | 0 | ||
Other swap | For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative liabilities for hedging | 0 | ||
Other swap | For trading | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets for trading | 1,056,000,000 | ||
Derivative liabilities for trading | 1,037,000,000 | ||
Other option | Long [Member] | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Nominal amount | 0 | ||
Other option | Long [Member] | For fair value hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets (Designated for hedging) | 0 | ||
Derivative liabilities for hedging | 0 | ||
Other option | Long [Member] | For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative liabilities for hedging | 0 | ||
Other option | Long [Member] | For trading | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets for trading | 0 | ||
Derivative liabilities for trading | 0 | ||
Other option | Short [Member] | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Nominal amount | 5,000,000,000 | ||
Other option | Short [Member] | For fair value hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets (Designated for hedging) | 0 | ||
Derivative liabilities for hedging | 0 | ||
Other option | Short [Member] | For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative liabilities for hedging | 0 | ||
Other option | Short [Member] | For trading | |||
Disclosure of detailed information about hedging instruments [Line Items] | |||
Derivative assets for trading | 0 | ||
Derivative liabilities for trading | ₩ 100,000,000 |
Derivatives_Overview of the Gro
Derivatives_Overview of the Group's hedge accounting (Details) | 12 Months Ended |
Dec. 31, 2018 | |
Fair value hedges [Member] | |
Disclosure of detailed information about hedges [Line Items] | |
Description of type of hedge | As of the current period end, the Group has applied fair value hedge on fixed interest rate foreign currency denominated debentures amounting to 2,956,565 million Won. The purpose of the hedging is to avoid fair value volatility risk of fixed interest rate foreign currency denominated debentures derived from fluctuations of market interest rate, and as such the Group entered into interest rate swap agreements designated as hedging instruments. |
Description of financial instruments designated as hedging instruments | the Group entered into interest rate swap agreements designated as hedging instruments. Pursuant to the interest rate swap agreement, by swapping the calculated difference between the fixed interest rate and floating interest rate applied to the nominal value, the fair value fluctuation risk is hedged as the foreign currency denominated debentures fixed interest rate terms are converted to floating interest rate. Pursuant to the interest rate swap agreement, hedge ratio is determined by matching the nominal value to the face value of the hedging instrument. The fair value of the interest rate swap at the end of the reporting period is determined by discounting future cash flows estimated using the yield curve at the end of the reporting period and the credit risk embedded in the contract and the average interest rate is determined based on the outstanding balance at the end of the reporting period. The variable interest rate applied to the interest rate swap is USD Libor 3M (6M) plus spread. In accordance with the terms of each interest rate swap contract designated as a hedging instrument, the Group receives interest at a fixed interest rate and pays interest at a variable interest rate. |
Description of nature of risks being hedged | In this hedging relationship, only the market interest rate fluctuation, which is the most significant part of the fair value change of the hedged item, is designated as the hedged risk, and other risk factors including credit risk are not included in the hedged risk. Therefore, the ineffective portion of the hedge could arise from difference in the timing of the cash flow of the hedged item, price margin set by the counterparty of hedging instruments, or unilateral credit risk fluctuation of either party of the hedging instrument. |
Cash flow hedges [Member] | |
Disclosure of detailed information about hedges [Line Items] | |
Description of type of hedge | As of the end of the current period, the Group has applied cash flow hedge on foreign currency denominated debentures amounting to 723,308 million Won and debentures on local currency amounting to 99,911 million Won. |
Description of financial instruments designated as hedging instruments | This means exchanging a predetermined nominal amount as set forth in the interest rate swap contract adjusted by the differences between the fixed and variable interest rates, which results in the conversion of interest rates of debentures from variable interest into fixed interest, eliminating the cash flow fluctuation risk. In addition, this also means a payment of predetermined principal amount as set forth in the currency swap adjusted by fixed interest rate, an exchange of an amount calculated by applying variable interest rate to USD or applying fixed interest rate to SGD, and an exchange of the principal denominated in KRW and principal denominated in foreign currency at maturity eliminating cash flow fluctuation risk on principal and interest. The hedge ratio is determined by matching the nominal amount of the hedging instrument to the face amount of the hedged item in accordance with interest rate swap and currency swap. Only interest rate and foreign exchange rate fluctuation risk, which is the most significant factor in the cash flow fluctuation of the hedged item, is addressed in this hedging relationship, and other risk factors such as credit risk are not subject to hedging. Thus, there could be hedge ineffectiveness arising from price margin set by the counterparty of hedging instruments and unilateral change in credit risk of any party to the transaction. |
Description of nature of risks being hedged | The Group's hedging strategies are to (1) Mitigate risks of cash flow fluctuation from variable interest rate debentures due to changes in market interest rate by entering into an interest rate swap contract and thereby designating it as hedging instrument; (2) Mitigate the risks of cash flow fluctuation from principal and interest of variable-interest rate debentures denominated in foreign currency due to changes in foreign exchange rates and interest rates by entering into a currency swap contract and thereby designating it as hedging instrument; and (3) Mitigate the risks of cash flow fluctuation from principal and interest of fixed-interest rate debentures denominated in foreign currency due to changes in foreign exchange rates by entering into a currency swap contract and thereby designating it as hedging instrument. |
Derivatives_The nominal amounts
Derivatives_The nominal amounts and the average interest and currency rate of hedging instrument (Details) | 12 Months Ended |
Dec. 31, 2018KRW (₩)USD ($)SGD ($) | |
For fair value hedging | Interest rate risk | Interest rate swaps | |
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [Line Items] | |
Nominal amount of hedging instrument | 2,650,000,000 |
Description of average rate of interest rate risk hedging instrument | Fixed 3.96% receipt and Libor 3M+1.61% floating paid Fixed 5.88% receipt and Libor 6M+2.15% floating paid |
For fair value hedging | Interest rate risk | Interest rate swaps | Less than 1 year | |
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [Line Items] | |
Nominal amount of hedging instrument | 0 |
For fair value hedging | Interest rate risk | Interest rate swaps | 1 to 5 years | |
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [Line Items] | |
Nominal amount of hedging instrument | 1,350,000,000 |
For fair value hedging | Interest rate risk | Interest rate swaps | Over 5 years | |
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [Line Items] | |
Nominal amount of hedging instrument | 1,300,000,000 |
For cash flow hedging | Interest rate risk | Interest rate swaps | |
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [Line Items] | |
Nominal amount of hedging instrument | ₩ | 100,000,000,000 |
Description of average rate of interest rate risk hedging instrument | KRW 3Y CMS+0.395% receipt, KRW 2.38% paid |
Description of average rate of currency risk hedging instrument | |
For cash flow hedging | Interest rate risk | Interest rate swaps | Less than 1 year | |
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [Line Items] | |
Nominal amount of hedging instrument | ₩ | 0 |
For cash flow hedging | Interest rate risk | Interest rate swaps | 1 to 5 years | |
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [Line Items] | |
Nominal amount of hedging instrument | ₩ | 100,000,000,000 |
For cash flow hedging | Interest rate risk | Interest rate swaps | Over 5 years | |
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [Line Items] | |
Nominal amount of hedging instrument | ₩ | 0 |
For cash flow hedging | Foreign currencies translation risk and interest rate risk | Currency swap | |
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [Line Items] | |
Nominal amount of hedging instrument | 500,000,000 |
Description of average rate of currency risk hedging instrument | USD 3M Libor+0.7% receipt, KRW 1.74% paid, USD/KRW = 1,136 USD 1M Libor+0.517% receipt, KRW 1.70% paid, USD/KRW = 1,178 |
For cash flow hedging | Foreign currencies translation risk and interest rate risk | Currency swap | Less than 1 year | |
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [Line Items] | |
Nominal amount of hedging instrument | 50,000,000 |
For cash flow hedging | Foreign currencies translation risk and interest rate risk | Currency swap | 1 to 5 years | |
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [Line Items] | |
Nominal amount of hedging instrument | 450,000,000 |
For cash flow hedging | Foreign currencies translation risk and interest rate risk | Currency swap | Over 5 years | |
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [Line Items] | |
Nominal amount of hedging instrument | 0 |
For cash flow hedging | Foreign currencies translation risk | Currency swap | |
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [Line Items] | |
Nominal amount of hedging instrument | 204,000,000 |
Description of average rate of currency risk hedging instrument | SGD 1.91% receipt, KRW 1.98% paid, SGD/KRW = 828 |
For cash flow hedging | Foreign currencies translation risk | Currency swap | Less than 1 year | |
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [Line Items] | |
Nominal amount of hedging instrument | 0 |
For cash flow hedging | Foreign currencies translation risk | Currency swap | 1 to 5 years | |
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [Line Items] | |
Nominal amount of hedging instrument | 204,000,000 |
For cash flow hedging | Foreign currencies translation risk | Currency swap | Over 5 years | |
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [Line Items] | |
Nominal amount of hedging instrument | 0 |
Derivatives_Amounts related to
Derivatives_Amounts related to items designated as hedging instruments (Details) ₩ in Millions | 12 Months Ended |
Dec. 31, 2018KRW (₩)USD ($)SGD ($) | |
Disclosure of detailed information about hedging instruments [Line Items] | |
Description of line item in statement of financial position that includes hedging instrument | Derivatives held for trading are classified into financial assets at FVTPL (Note 7) and financial liabilities at FVTPL (Note 20), and derivatives designated for hedging are presented as a separate line item in the consolidated statements of financial position. |
For fair value hedging | Interest rate risk | |
Disclosure of detailed information about hedging instruments [Line Items] | |
Description of line item in statement of financial position that includes hedging instrument | Derivative assets (Designated for hedging) Derivative liabilities (Designated for hedging) |
For fair value hedging | Interest rate risk | Interest rate swaps | |
Disclosure of detailed information about hedging instruments [Line Items] | |
Nominal amount of hedging instrument | $ | 2,650,000,000 |
Hedging instrument, assets | ₩ 35,503 |
Hedging instrument, liabilities | 17,654 |
Changing in fair value used for calculating hedge ineffectiveness | ₩ (27,362) |
For cash flow hedging | Interest rate risk | |
Disclosure of detailed information about hedging instruments [Line Items] | |
Description of line item in statement of financial position that includes hedging instrument | Derivative liabilities (Designated for hedging) |
For cash flow hedging | Interest rate risk | Interest rate swaps | |
Disclosure of detailed information about hedging instruments [Line Items] | |
Nominal amount of hedging instrument | 100,000 |
Hedging instrument, liabilities | ₩ 665 |
Changing in fair value used for calculating hedge ineffectiveness | ₩ (665) |
For cash flow hedging | Foreign currencies translation risk and interest rate risk | |
Disclosure of detailed information about hedging instruments [Line Items] | |
Description of line item in statement of financial position that includes hedging instrument | Derivative liabilities (Designated for hedging) |
For cash flow hedging | Foreign currencies translation risk and interest rate risk | Currency swap | |
Disclosure of detailed information about hedging instruments [Line Items] | |
Nominal amount of hedging instrument | $ | 500,000,000 |
Hedging instrument, liabilities | ₩ 28,907 |
Changing in fair value used for calculating hedge ineffectiveness | ₩ 21,582 |
For cash flow hedging | Foreign currencies translation risk | |
Disclosure of detailed information about hedging instruments [Line Items] | |
Description of line item in statement of financial position that includes hedging instrument | Derivative liabilities (Designated for hedging) |
For cash flow hedging | Foreign currencies translation risk | Currency swap | |
Disclosure of detailed information about hedging instruments [Line Items] | |
Nominal amount of hedging instrument | $ | 204,000,000 |
Hedging instrument, liabilities | ₩ 4,182 |
Changing in fair value used for calculating hedge ineffectiveness | ₩ 2,353 |
Derivatives_Carrying amounts of
Derivatives_Carrying amounts of hedged item and amount of hedge adjustments due to hedge accounting (Details) | 12 Months Ended | |
Dec. 31, 2018KRW (₩) | ||
For fair value hedging | Interest rate risk | ||
Disclosure of detailed information about hedged items [Line Items] | ||
Hedged item, assets | ₩ 0 | |
Hedged item, liabilities | 2,956,565,000,000 | |
Accumulated fair value hedge adjustment on hedged item included in carrying amount, assets | 0 | |
Accumulated fair value hedge adjustment on hedged item included in carrying amount, liabilities | ₩ 5,200,000,000 | |
Line item in the statement of financial position in which the hedged item is included | Debentures | |
Changing in fair value used for calculating hedge ineffectiveness | ₩ 25,498,000,000 | |
Reserve of cash flow hedges, hedging relationships for which hedge accounting is no longer applied | 0 | [1] |
For cash flow hedging | Interest rate risk | ||
Disclosure of detailed information about hedged items [Line Items] | ||
Hedged item, assets | 0 | |
Hedged item, liabilities | 99,911,000,000 | |
Accumulated fair value hedge adjustment on hedged item included in carrying amount, assets | 0 | |
Accumulated fair value hedge adjustment on hedged item included in carrying amount, liabilities | ₩ 0 | |
Line item in the statement of financial position in which the hedged item is included | Debentures | |
Changing in fair value used for calculating hedge ineffectiveness | ₩ 521,000,000 | |
Reserve of cash flow hedges, hedging relationships for which hedge accounting is no longer applied | (371,000,000) | [1] |
For cash flow hedging | Foreign currencies translation risk and interest rate risk | ||
Disclosure of detailed information about hedged items [Line Items] | ||
Hedged item, assets | 0 | |
Hedged item, liabilities | 557,186,000,000 | |
Accumulated fair value hedge adjustment on hedged item included in carrying amount, assets | 0 | |
Accumulated fair value hedge adjustment on hedged item included in carrying amount, liabilities | ₩ 0 | |
Line item in the statement of financial position in which the hedged item is included | Debentures | |
Changing in fair value used for calculating hedge ineffectiveness | ₩ (16,790,000,000) | |
Reserve of cash flow hedges, hedging relationships for which hedge accounting is no longer applied | (1,211,000,000) | [1] |
For cash flow hedging | Foreign currencies translation risk | ||
Disclosure of detailed information about hedged items [Line Items] | ||
Hedged item, assets | 0 | |
Hedged item, liabilities | 166,122,000,000 | |
Accumulated fair value hedge adjustment on hedged item included in carrying amount, assets | 0 | |
Accumulated fair value hedge adjustment on hedged item included in carrying amount, liabilities | ₩ 0 | |
Line item in the statement of financial position in which the hedged item is included | Debentures | |
Changing in fair value used for calculating hedge ineffectiveness | ₩ (1,762,000,000) | |
Reserve of cash flow hedges, hedging relationships for which hedge accounting is no longer applied | ₩ (2,287,000,000) | [1] |
[1] | After tax amount |
Derivatives_Amounts recognized
Derivatives_Amounts recognized in profit or loss due to the ineffective portion of fair value hedge (Details) | 12 Months Ended |
Dec. 31, 2018KRW (₩) | |
For fair value hedging | Interest rate risk | |
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [Line Items] | |
Changes in the value of hedging instruments recognized in cash flow hedge reserve | ₩ (1,864,000,000) |
Line item in the profit or loss that includes hedge ineffectiveness | Other net operating income |
For cash flow hedging | Interest rate risk | |
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [Line Items] | |
Changes in the value of hedging instruments recognized in cash flow hedge reserve | ₩ (517,000,000) |
Hedge ineffectiveness recognized in profit or loss | (148,000,000) |
Other comprehensive income, net of tax, change in value of foreign currency basis spreads | ₩ 0 |
Line item in the profit or loss that includes hedge ineffectiveness | Other net operating expense |
Amounts reclassified from cash flow hedge reserve to profit or loss | ₩ 0 |
Line item affected in profit or loss because of the reclassification | Other net operating expense |
For cash flow hedging | Foreign currencies translation risk and interest rate risk | |
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [Line Items] | |
Changes in the value of hedging instruments recognized in cash flow hedge reserve | ₩ 21,429,000,000 |
Hedge ineffectiveness recognized in profit or loss | 153,000,000 |
Other comprehensive income, net of tax, change in value of foreign currency basis spreads | ₩ (882,000,000) |
Line item in the profit or loss that includes hedge ineffectiveness | Other net operating income (expense) |
Amounts reclassified from cash flow hedge reserve to profit or loss | ₩ (23,084,000,000) |
Line item affected in profit or loss because of the reclassification | Other net operating expense |
For cash flow hedging | Foreign currencies translation risk | |
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [Line Items] | |
Changes in the value of hedging instruments recognized in cash flow hedge reserve | ₩ 2,353,000,000 |
Hedge ineffectiveness recognized in profit or loss | 0 |
Other comprehensive income, net of tax, change in value of foreign currency basis spreads | ₩ (491,000,000) |
Line item in the profit or loss that includes hedge ineffectiveness | Other net operating income |
Amounts reclassified from cash flow hedge reserve to profit or loss | ₩ (3,601,000,000) |
Line item affected in profit or loss because of the reclassification | Other net operating expense |
Deferred day 1 profits or losse
Deferred day 1 profits or losses_Changes of deferred day 1 profits or losses (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Reconciliation of aggregate difference between fair value at initial recognition and amount determined using valuation technique yet to be recognised [Abstract] | |||
Beginning balance | ₩ 7,416 | ₩ 13,422 | ₩ 28,008 |
Changes in aggregate difference between fair value at initial recognition and amount determined using valuation technique yet to be recognised [Abstract] | |||
New transactions | 23,678 | 500 | 1,337 |
Amounts recognized in losses | (5,631) | (6,506) | (15,923) |
Ending balance | ₩ 25,463 | ₩ 7,416 | ₩ 13,422 |
Capital stock and capital sur_3
Capital stock and capital surplus_Details of share capital (Details) ₩ / shares in Units, $ in Thousands, ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2018KRW (₩)₩ / sharesshares | Dec. 31, 2017KRW (₩)₩ / sharesshares | Dec. 31, 2018USD ($)shares | |
Disclosure of classes of share capital [Line Items] | |||
Shares of common stock authorized | 5,000,000,000 | 5,000,000,000 | 5,000,000,000 |
Par value | ₩ / shares | ₩ 5,000 | ₩ 5,000 | |
Shares of common stock issued | 676,000,000 | 676,000,000 | 676,000,000 |
Capital stock | ₩ 3,381,392 | ₩ 3,381,392 | $ 3,038,361 |
Description Of changes in numbers of issued shares of common stock | There are no changes in the number of shares issued and outstanding for the years ended December 31, 2016, 2017 and 2018. | There are no changes in the number of shares issued and outstanding for the years ended December 31, 2016, 2017 and 2018. |
Capital stock and capital sur_4
Capital stock and capital surplus_Details of capital surplus (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) |
Miscellaneous equity [Abstract] | |||
Capital in excess of par value | ₩ 269,533 | ₩ 269,533 | |
Other capital surplus | 16,356 | 16,347 | |
Total | ₩ 285,889 | $ 256,887 | ₩ 285,880 |
Hybrid securities_Details of hy
Hybrid securities_Details of hybrid securities classified as owners equity (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2018KRW (₩) | Dec. 31, 2017KRW (₩) | Dec. 31, 2018USD ($) | |
Disclosure of bond type hybrid securities of other equity interest classified as owner's equity [Line Items] | |||
Hybrid securities | ₩ 3,161,963 | ₩ 3,017,888 | $ 2,841,192 |
Description of nature of bond type hybrid securities of other equity interest classified as owners equity | The hybrid securities mentioned above are either without a maturity date or its maturity can be extended indefinitely at the maturity date without changing terms. In addition, the hybrid securities issued by the Bank will be reclassified to non-controlling interests in the consolidated financial statements of Woori Financial Group, Inc. from the next accounting period, due to the establishment of the financial holding company on January 11, 2019. | The hybrid securities mentioned above are either without a maturity date or its maturity can be extended indefinitely at the maturity date without changing terms. | |
Hybrid securities of other equity interest in local currency issued in 200801 | |||
Disclosure of bond type hybrid securities of other equity interest classified as owner's equity [Line Items] | |||
Issue date | Jun. 20, 2008 | ||
Maturity | Jun. 20, 2038 | ||
Interest rate (%) | 7.70% | ||
Hybrid securities | ₩ 255,000 | ||
Hybrid securities of other equity interest in local currency issued in 201301 | |||
Disclosure of bond type hybrid securities of other equity interest classified as owner's equity [Line Items] | |||
Issue date | Apr. 25, 2013 | Apr. 25, 2013 | |
Maturity | Apr. 25, 2043 | Apr. 25, 2043 | |
Interest rate (%) | 4.40% | 4.40% | |
Hybrid securities | ₩ 500,000 | ₩ 500,000 | |
Hybrid securities of other equity interest in local currency issued in 201302 | |||
Disclosure of bond type hybrid securities of other equity interest classified as owner's equity [Line Items] | |||
Issue date | Nov. 13, 2013 | Nov. 13, 2013 | |
Maturity | Nov. 13, 2043 | Nov. 13, 2043 | |
Interest rate (%) | 5.70% | 5.70% | |
Hybrid securities | ₩ 200,000 | ₩ 200,000 | |
Hybrid securities of other equity interest in local currency issued in 201401 | |||
Disclosure of bond type hybrid securities of other equity interest classified as owner's equity [Line Items] | |||
Issue date | Dec. 12, 2014 | Dec. 12, 2014 | |
Maturity | Dec. 12, 2044 | Dec. 12, 2044 | |
Interest rate (%) | 5.20% | 5.20% | |
Hybrid securities | ₩ 160,000 | ₩ 160,000 | |
Hybrid securities of other equity interest in local currency issued in 201501 | |||
Disclosure of bond type hybrid securities of other equity interest classified as owner's equity [Line Items] | |||
Issue date | Jun. 3, 2015 | Jun. 3, 2015 | |
Maturity | Jun. 3, 2045 | Jun. 3, 2045 | |
Interest rate (%) | 4.40% | 4.40% | |
Hybrid securities | ₩ 240,000 | ₩ 240,000 | |
Hybrid securities of other equity interest in local currency issued in 201801 | |||
Disclosure of bond type hybrid securities of other equity interest classified as owner's equity [Line Items] | |||
Issue date | Jul. 26, 2018 | ||
Interest rate (%) | 4.40% | ||
Hybrid securities | ₩ 400,000 | ||
Hybrid securities of other equity interest in foreign currency issued in 201501 | |||
Disclosure of bond type hybrid securities of other equity interest classified as owner's equity [Line Items] | |||
Issue date | Jun. 10, 2015 | Jun. 10, 2015 | |
Maturity | Jun. 10, 2045 | Jun. 10, 2045 | |
Interest rate (%) | 5.00% | 5.00% | |
Hybrid securities | ₩ 559,650 | ₩ 559,650 | |
Hybrid securities of other equity interest in foreign currency issued in 201601 | |||
Disclosure of bond type hybrid securities of other equity interest classified as owner's equity [Line Items] | |||
Issue date | Sep. 27, 2016 | Sep. 27, 2016 | |
Interest rate (%) | 4.50% | 4.50% | |
Hybrid securities | ₩ 553,450 | ₩ 553,450 | |
Hybrid securities of other equity interest in foreign currency issued in 201701 | |||
Disclosure of bond type hybrid securities of other equity interest classified as owner's equity [Line Items] | |||
Issue date | May 16, 2017 | May 16, 2017 | |
Interest rate (%) | 5.30% | 5.30% | |
Hybrid securities | ₩ 562,700 | ₩ 562,700 | |
Issuance cost | |||
Disclosure of bond type hybrid securities of other equity interest classified as owner's equity [Line Items] | |||
Hybrid securities | ₩ (13,837) | ₩ (12,912) |
Other equity_Details of other e
Other equity_Details of other equity (Details) $ in Thousands | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | Dec. 31, 2016KRW (₩) | Dec. 31, 2015KRW (₩) | |
Accumulated other comprehensive income [Abstract] | ||||||
Net loss on valuation of financial assets at FVTOCI | ₩ (87,182,000,000) | ₩ 0 | ||||
Gain on valuation of AFS financial assets | 0 | 301,930,000,000 | ||||
Gain(loss) on financial liabilities at fair value through profit or loss designated as upon initial recognition due to own credit risk | 0 | 0 | ||||
Share of other comprehensive gain(loss) of joint ventures and associates | 302,000,000 | (1,251,000,000) | ||||
Loss on foreign currencies translation of foreign operations | (244,735,000,000) | (242,700,000,000) | ||||
Remeasurement loss related to defined benefit plan | (236,726,000,000) | (152,624,000,000) | ||||
Gain(loss) on valuation of cash flow hedges | (3,869,000,000) | 777,000,000 | ||||
Other comprehensive income related to assets held for sale | 0 | 4,145,000,000 | ||||
Sub-total | (572,210,000,000) | (89,723,000,000) | ₩ 173,368,000,000 | ₩ 102,020,000,000 | ||
Treasury shares | (34,113,000,000) | (34,113,000,000) | ||||
Other capital adjustments | [1] | (1,607,647,000,000) | (1,815,438,000,000) | |||
Total | ₩ (2,213,970,000,000) | $ (1,989,370) | ₩ (1,939,274,000,000) | |||
[1] | Other capital adjustments include gain or loss on capital transactions that was recognized in 2014 as a result of the merger of Woori Bank and Woori Finance Holdings Co., Ltd. |
Other equity_Changes in the acc
Other equity_Changes in the accumulated other comprehensive loss (Details) - KRW (₩) | 12 Months Ended | ||||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||||
Disclosure of analysis of other comprehensive income by item [Line Items] | |||||||
Beginning balance | [1] | ₩ (481,900,000,000) | |||||
Beginning balance | (89,723,000,000) | ₩ 173,368,000,000 | ₩ 102,020,000,000 | ||||
Changes in accumulated other comprehensive income [Abstract] | |||||||
Increase (decrease) on valuation | (92,017,000,000) | [2],[3] | (98,373,000,000) | [4] | 191,178,000,000 | ||
Reclassification | (18,856,000,000) | (164,803,000,000) | [4] | (101,647,000,000) | [4] | ||
Income tax effect | 20,563,000,000 | 85,000,000 | (18,183,000,000) | ||||
Ending balance | (572,210,000,000) | (89,723,000,000) | 173,368,000,000 | ||||
Gain (loss) on valuation of available-for-sale financial assets | |||||||
Disclosure of analysis of other comprehensive income by item [Line Items] | |||||||
Beginning balance | 301,930,000,000 | 386,981,000,000 | 374,685,000,000 | ||||
Changes in accumulated other comprehensive income [Abstract] | |||||||
Increase (decrease) on valuation | 80,997,000,000 | [4] | 114,617,000,000 | ||||
Reclassification | [4] | (164,803,000,000) | (101,647,000,000) | ||||
Income tax effect | (1,245,000,000) | (674,000,000) | |||||
Ending balance | 301,930,000,000 | 386,981,000,000 | |||||
Net gain or loss on valuation of financial assets at FVTOCI | |||||||
Disclosure of analysis of other comprehensive income by item [Line Items] | |||||||
Beginning balance | [1] | (88,906,000,000) | |||||
Changes in accumulated other comprehensive income [Abstract] | |||||||
Increase (decrease) on valuation | [2],[3] | (8,677,000,000) | |||||
Reclassification | 8,015,000,000 | ||||||
Income tax effect | 2,386,000,000 | ||||||
Ending balance | (87,182,000,000) | ||||||
Gain (loss) on financial liabilities at fair value through profit or loss designated as upon initial recognition due to own credit risk | |||||||
Disclosure of analysis of other comprehensive income by item [Line Items] | |||||||
Beginning balance | [1] | (96,000,000) | |||||
Changes in accumulated other comprehensive income [Abstract] | |||||||
Increase (decrease) on valuation | [2],[3] | 132,000,000 | |||||
Reclassification | 0 | ||||||
Income tax effect | (36,000,000) | ||||||
Ending balance | 0 | ||||||
Share of other comprehensive income (loss) of joint ventures and associates | |||||||
Disclosure of analysis of other comprehensive income by item [Line Items] | |||||||
Beginning balance | [1] | (2,656,000,000) | |||||
Beginning balance | (1,251,000,000) | (1,863,000,000) | 6,074,000,000 | ||||
Changes in accumulated other comprehensive income [Abstract] | |||||||
Increase (decrease) on valuation | 4,080,000,000 | [2],[3] | 2,516,000,000 | [4] | (9,274,000,000) | ||
Reclassification | 0 | 0 | [4] | 0 | [4] | ||
Income tax effect | (1,122,000,000) | (1,904,000,000) | 1,337,000,000 | ||||
Ending balance | 302,000,000 | (1,251,000,000) | (1,863,000,000) | ||||
Gain (loss) on foreign currency translation of foreign operations | |||||||
Disclosure of analysis of other comprehensive income by item [Line Items] | |||||||
Beginning balance | [1] | (242,806,000,000) | |||||
Beginning balance | (242,700,000,000) | (48,353,000,000) | (70,789,000,000) | ||||
Changes in accumulated other comprehensive income [Abstract] | |||||||
Increase (decrease) on valuation | (2,661,000,000) | [2],[3] | (193,272,000,000) | [4] | 30,368,000,000 | ||
Reclassification | 0 | 0 | [4] | 0 | [4] | ||
Income tax effect | 732,000,000 | (1,075,000,000) | (7,932,000,000) | ||||
Ending balance | (244,735,000,000) | (242,700,000,000) | (48,353,000,000) | ||||
Remeasurement gain (loss) related to defined benefit plan | |||||||
Disclosure of analysis of other comprehensive income by item [Line Items] | |||||||
Beginning balance | [1] | (152,358,000,000) | |||||
Beginning balance | (152,624,000,000) | (163,397,000,000) | (197,579,000,000) | ||||
Changes in accumulated other comprehensive income [Abstract] | |||||||
Increase (decrease) on valuation | (111,401,000,000) | [2],[3] | 6,216,000,000 | [4] | 45,096,000,000 | ||
Reclassification | 0 | 0 | [4] | 0 | [4] | ||
Income tax effect | 27,033,000,000 | 4,557,000,000 | (10,914,000,000) | ||||
Ending balance | (236,726,000,000) | (152,624,000,000) | (163,397,000,000) | ||||
Gain (loss) on valuation of cash flow hedges | |||||||
Disclosure of analysis of other comprehensive income by item [Line Items] | |||||||
Beginning balance | [1] | 777,000,000 | |||||
Beginning balance | 777,000,000 | (10,371,000,000) | |||||
Changes in accumulated other comprehensive income [Abstract] | |||||||
Increase (decrease) on valuation | 30,655,000,000 | [2],[3] | 1,025,000,000 | [4] | 10,371,000,000 | ||
Reclassification | (26,871,000,000) | 0 | [4] | 0 | [4] | ||
Income tax effect | (8,430,000,000) | (248,000,000) | 0 | ||||
Ending balance | (3,869,000,000) | 777,000,000 | |||||
Transfer to non-current assets held for sale | |||||||
Disclosure of analysis of other comprehensive income by item [Line Items] | |||||||
Beginning balance | [1] | 4,145,000,000 | |||||
Beginning balance | 4,145,000,000 | 0 | |||||
Changes in accumulated other comprehensive income [Abstract] | |||||||
Increase (decrease) on valuation | (4,145,000,000) | [2],[3] | 4,145,000,000 | [4] | |||
Reclassification | 0 | 0 | [4] | 0 | [4] | ||
Income tax effect | 0 | ||||||
Ending balance | ₩ 0 | ₩ 4,145,000,000 | ₩ 0 | ||||
[1] | The beginning balance was adjusted in accordance with IFRS 9. | ||||||
[2] | Gain (loss) on financial liabilities at fair value through profit or loss designated as upon initial recognition due to own credit risk included the 4 million Won transfer to retained earnings due to redemption. | ||||||
[3] | Net gain (loss) on valuation of financial assets at FVTOCI included the 1,009 million Won transfer to retained earnings due to disposal of equity securities. | ||||||
[4] | For the change in gain (loss) on valuation of AFS financial assets, "increase (decrease)" represents change due to the valuation during the period, and "reclassification adjustments" represents disposal or recognition of impairment losses on AFS financial assets. |
Retained earnings_Details of re
Retained earnings_Details of retained earnings (Details) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2018KRW (₩) | Dec. 31, 2017KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2016KRW (₩) | ||
Disclosure of changes in retained earnings [Line Items] | |||||
Retained earnings before appropriation | [1] | ₩ 3,922,998,000,000 | ₩ 2,980,523,000,000 | ||
Retained earnings | 17,124,657,000,000 | 15,620,006,000,000 | $ 15,387,418 | ₩ 14,611,566,000,000 | |
Legal reserve | |||||
Disclosure of changes in retained earnings [Line Items] | |||||
Legal Reserve Sub-total | 1,904,138,000,000 | 1,775,422,000,000 | |||
Earned surplus reserve | |||||
Disclosure of changes in retained earnings [Line Items] | |||||
Legal Reserve Sub-total | ₩ 1,857,754,000,000 | ₩ 1,729,754,000,000 | |||
Description of nature and purpose of legal reserves within equity | In accordance with the Article 40, Banking Act, earned surplus reserve is appropriated at least one tenth of the earnings after tax on every dividend declaration, not exceeding the paid in capital. This reserve may not be used other than for offsetting a deficit or transferring to capital. | In accordance with the Article 40, Banking Act, earned surplus reserve is appropriated at least one tenth of the earnings after tax on every dividend declaration, not exceeding the paid in capital. This reserve may not be used other than for offsetting a deficit or transferring to capital. | |||
Other legal reserve | |||||
Disclosure of changes in retained earnings [Line Items] | |||||
Legal Reserve Sub-total | ₩ 46,384,000,000 | ₩ 45,668,000,000 | |||
Description of nature and purpose of legal reserves within equity | Other legal reserves were appropriated in the branches located in Japan, Vietnam and Bangladesh according to the banking laws of Japan, Vietnam and Bangladesh, and may be used to offset any deficit incurred in those branches. | Other legal reserves were appropriated in the branches located in Japan, Vietnam and Bangladesh according to the banking laws of Japan, Vietnam and Bangladesh, and may be used to offset any deficit incurred in those branches. | |||
Voluntary reserve | |||||
Disclosure of changes in retained earnings [Line Items] | |||||
Voluntary reserve Sub-total | ₩ 11,297,521,000,000 | ₩ 10,864,061,000,000 | |||
Business rationalization reserve | |||||
Disclosure of changes in retained earnings [Line Items] | |||||
Voluntary reserve Sub-total | ₩ 8,000,000,000 | ₩ 8,000,000,000 | |||
Description of nature and purpose of voluntary reserves within equity | Pursuant to the Restriction of Special Taxation Act, the Group was previously required to appropriate, as a reserve for business rationalization, amounts equal to tax reductions arising from tax exemptions and tax credits up to December 31, 2001. The requirement was no longer effective from 2002. | Pursuant to the Restriction of Special Taxation Act, the Group was previously required to appropriate, as a reserve for business rationalization, amounts equal to tax reductions arising from tax exemptions and tax credits up to December 31, 2001. The requirement was no longer effective from 2002. | |||
Reserve for financial structure improvement | |||||
Disclosure of changes in retained earnings [Line Items] | |||||
Voluntary reserve Sub-total | ₩ 235,400,000,000 | ₩ 235,400,000,000 | |||
Description of nature and purpose of voluntary reserves within equity | From 2002 to 2014, the Finance Supervisory Services recommended banks in Korea to appropriate at least 10 percent of net income after accumulated deficit for financial structure improvement, until tangible common equity ratio equals 5.5 percent. But this reserve is not available for payment of cash dividends; however, it can be used to reduce a deficit or be transferred to capital. The reserve and appropriation are an Autonomous judgment matter of the Group since 2015. | From 2002 to 2014, the Finance Supervisory Services recommended banks in Korea to appropriate at least 10 percent of net income after accumulated deficit for financial structure improvement, until tangible common equity ratio equals 5.5 percent. But this reserve is not available for payment of cash dividends; however, it can be used to reduce a deficit or be transferred to capital. The reserve and appropriation are an Autonomous judgment matter of the Group since 2015. | |||
Additional reserve | |||||
Disclosure of changes in retained earnings [Line Items] | |||||
Voluntary reserve Sub-total | ₩ 7,759,804,000,000 | ₩ 7,418,806,000,000 | |||
Description of nature and purpose of voluntary reserves within equity | Additional reserve was appropriated for capital adequacy and other management purpose. | Additional reserve was appropriated for capital adequacy and other management purpose. | |||
Regulatory reserve for credit loss | |||||
Disclosure of changes in retained earnings [Line Items] | |||||
Voluntary reserve Sub-total | ₩ 2,578,457,000,000 | ₩ 2,438,191,000,000 | |||
Description of nature and purpose of voluntary reserves within equity | In accordance with paragraphs 1 and 2 of Article 29 of the Regulation on Supervision of Banking Business ("RSBB"), if provisions for credit loss under IFRS for the accounting purpose are lower than provisions under RSBB, the Group limits such shortfall amount as regulatory reserve for credit loss. | In accordance with paragraphs 1 and 2 of Article 29 of the Regulation on Supervision of Banking Business ("RSBB"), if provisions for credit loss under IFRS for the accounting purpose are lower than provisions under RSBB, the Group limits such shortfall amount as regulatory reserve for credit loss. | |||
Revaluation reserve | |||||
Disclosure of changes in retained earnings [Line Items] | |||||
Voluntary reserve Sub-total | ₩ 715,860,000,000 | ₩ 751,964,000,000 | |||
Description of nature and purpose of voluntary reserves within equity | In accordance with attached table 3 of the Regulation on Supervision of Banking Business Enforcement Rules Revaluation reserve is the amount of limited dividends set by the board of directors to be recognized as complementary capital when the gain or loss occurred in the property revaluation by adopting IFRS. | In accordance with attached table 3 of the Regulation on Supervision of Banking Business Enforcement Rules Revaluation reserve is the amount of limited dividends set by the board of directors to be recognized as complementary capital when the gain or loss occurred in the property revaluation by adopting IFRS. | |||
Other voluntary reserve | |||||
Disclosure of changes in retained earnings [Line Items] | |||||
Voluntary reserve Sub-total | ₩ 0 | ₩ 11,700,000,000 | |||
[1] | The unappropriated retained earnings for the current period has been restated in accordance with IFRS 9. |
Dividends_Details of dividend a
Dividends_Details of dividend approved and paid (Details) - KRW (₩) ₩ / shares in Units, ₩ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Dividends [Abstract] | ||
Dividend paid | ₩ 437,626 | ₩ 336,636 |
Dividend paid per share | ₩ 650 | ₩ 500 |
Net interest income_Details of
Net interest income_Details of interest income (Details) | 12 Months Ended | ||||
Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | Dec. 31, 2016KRW (₩) | ||
Disclosure of interest income operating [Abstract] | |||||
Financial assets at FVTPL (IFRS 9) | [1] | ₩ 54,243,000,000 | $ 48,740,000 | ₩ 0 | ₩ 0 |
Financial assets at FVTPL (IAS 39) | [1] | 0 | 0 | 53,348,000,000 | 63,408,000,000 |
Financial assets at FVTOCI | [1] | 280,371,000,000 | 251,928,000 | 0 | 0 |
AFS financial assets | [1] | 0 | 0 | 239,030,000,000 | 339,518,000,000 |
HTM financial assets | [1] | 0 | 0 | 307,965,000,000 | 360,054,000,000 |
Financial assets at amortized cost: | |||||
Securities at amortized cost | 376,788,000,000 | 0 | 0 | ||
Interest on due from banks | 112,581,000,000 | ||||
Interest on loans | 8,832,485,000,000 | ||||
Interest of other receivables | 28,031,000,000 | ||||
Sub-total | [1] | 9,349,885,000,000 | 8,401,370,000 | 0 | 0 |
Loans and receivables | |||||
Interest on due from banks | 83,325,000,000 | 75,021,000,000 | |||
Interest on loans | 7,835,957,000,000 | 7,635,791,000,000 | |||
Interest of other receivables | 31,062,000,000 | 38,520,000,000 | |||
Sub-total | [1] | 0 | 0 | 7,950,344,000,000 | 7,749,332,000,000 |
Total | ₩ 9,684,499,000,000 | $ 8,702,038,000 | ₩ 8,550,687,000,000 | ₩ 8,512,312,000,000 | |
[1] | The consolidated statements of comprehensive income for the year ended December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of comprehensive income for the years ended December 31, 2016 and 2017 were not retrospectively restated in accordance with IFRS 9. |
Net interest income_Details o_2
Net interest income_Details of interest expense (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | Dec. 31, 2016KRW (₩) | |
Interest expense [Abstract] | ||||
Interest on deposits due to customers | ₩ 2,917,165 | ₩ 2,380,263 | ₩ 2,547,142 | |
Interest on borrowings | 306,739 | 238,212 | 215,240 | |
Interest on debentures | 720,394 | 638,653 | 619,255 | |
Interest expense on others | 89,250 | 72,909 | 111,131 | |
Total | ₩ 4,033,548 | $ 3,624,358 | ₩ 3,330,037 | ₩ 3,492,768 |
Net fees and commissions inco_3
Net fees and commissions income_Details of fees and commissions income recognized (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | Dec. 31, 2016KRW (₩) | |
Fee and commission income [Abstract] | ||||
Fees And Commission Received For Brokerage | ₩ 162,344 | ₩ 164,041 | ₩ 166,317 | |
Fees And Commission Received To Credit | 173,233 | 166,364 | 170,329 | |
Fees And Commission Received For Electronic Finance | 121,250 | 110,105 | 107,985 | |
Fees And Commission Received On Foreign Exchange Handling | 60,433 | 58,383 | 53,468 | |
Fees And Commission Received On Foreign Exchange | 66,036 | 61,552 | 54,924 | |
Fees And Commission From Trust Management | 177,456 | 141,766 | 78,211 | |
Fees And Commission Received On Credit Information | 12,985 | 11,737 | 11,017 | |
Fees and commissions received for guarantee | 65,254 | 65,779 | 66,549 | |
Fees and commissions received on credit card | 598,705 | 1,072,423 | 954,502 | |
Fees and commissions received on securities business | 96,379 | 80,872 | 70,928 | |
Other fees and commissions received | 146,689 | 136,176 | 131,240 | |
Total | ₩ 1,680,764 | $ 1,510,256 | ₩ 2,069,198 | ₩ 1,865,470 |
Net fees and commissions inco_4
Net fees and commissions income_Details of fees and commissions expense incurred (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | Dec. 31, 2016KRW (₩) | |
Fee and commission expense [Abstract] | ||||
Fees and commissions paid | ₩ 174,669 | ₩ 164,834 | ₩ 162,170 | |
Credit card commissions | 428,613 | 828,363 | 760,913 | |
Brokerage commissions | 1,833 | 558 | 739 | |
Others | 5,675 | 4,977 | 4,517 | |
Total | ₩ 610,790 | $ 548,827 | ₩ 998,732 | ₩ 928,339 |
Dividend income_Details of divi
Dividend income_Details of dividend income (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | Dec. 31, 2016KRW (₩) | |
Disclosure Of Revenue From Dividends [Abstract] | ||||
Dividend from financial assets at FVTPL (IFRS 9) | ₩ 67,892 | |||
Dividend from financial assets at FVTPL (IAS 39) | ₩ 446 | ₩ 996 | ||
Dividend from financial assets FVTOCI | 22,660 | |||
Dividend from AFS financial assets | 124,546 | 183,514 | ||
Total | ₩ 90,552 | $ 81,366 | ₩ 124,992 | ₩ 184,510 |
Dividend income_Details of di_2
Dividend income_Details of dividends related to financial assets at FVTOCI (Details) ₩ in Millions | 12 Months Ended |
Dec. 31, 2018KRW (₩) | |
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [Abstract] | |
Dividend income recognized from assets held equity securities | ₩ 22,386 |
Dividend income recognized in assets derecognized | 274 |
Total | ₩ 22,660 |
Net gain or loss on financial_3
Net gain or loss on financial instruments at fair value through profit or loss mandatorily measured at fair value (IFRS 9 And IAS 39)_Details of gains or losses related to net gain or loss on financial instruments at FVTPL (Details) | 12 Months Ended | ||||
Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | Dec. 31, 2016KRW (₩) | ||
Disclosure of gains (losses) on financial instruments at fair value through profit or loss [Abstract] | |||||
Gain on financial instruments at fair value through profit or loss mandatorily measured at fair value | ₩ 196,959,000,000 | ||||
Gain on financial assets held for trading | ₩ 6,123,000,000 | ₩ 185,786,000,000 | |||
Gains (losses) on financial instrument at fair value through profit or loss designated as upon initial recognition (IFRS 9) | 17,484,000,000 | ||||
Loss on financial assets designated at FVTPL | (110,950,000,000) | (71,399,000,000) | |||
Total | [1] | 214,443,000,000 | $ 192,689,000 | 0 | 0 |
Total | [1] | ₩ 0 | $ 0 | ₩ (104,827,000,000) | ₩ 114,387,000,000 |
[1] | The consolidated statements of comprehensive income for the year ended December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of comprehensive income for the years ended December 31, 2016 and 2017 were not retrospectively restated in accordance with IFRS 9. |
Net gain or loss on financial_4
Net gain or loss on financial instruments at fair value through profit or loss mandatorily measured at fair value (IFRS 9 And IAS 39)_Details of net gain or loss on financial instrument at fair value through profit or loss mandatorily measured at fair value and financial assets held for trading (Details) - KRW (₩) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | ₩ 196,959,000,000 | ||
Net gains and losses on financial assets held for trading (Total) | ₩ 6,123,000,000 | ₩ 185,786,000,000 | |
Financial assets at FVTPL (financial assets held for trading) | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | 131,149,000,000 | ||
Net gains and losses on financial assets held for trading (Total) | 3,442,000,000 | 9,982,000,000 | |
Securities | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | 130,115,000,000 | ||
Net gains and losses on financial assets held for trading (Total) | 3,069,000,000 | 9,627,000,000 | |
Securities | Gain on valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | 137,237,000,000 | ||
Net gains and losses on financial assets held for trading (Total) | 2,764,000,000 | 9,323,000,000 | |
Securities | Gain on disposals | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | 45,105,000,000 | ||
Net gains and losses on financial assets held for trading (Total) | 20,528,000,000 | 24,509,000,000 | |
Securities | Loss on valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | (25,499,000,000) | ||
Net gains and losses on financial assets held for trading (Total) | (13,757,000,000) | (12,681,000,000) | |
Securities | Loss on disposals | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | (26,728,000,000) | ||
Net gains and losses on financial assets held for trading (Total) | (6,466,000,000) | (11,524,000,000) | |
Loans | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | 820,000,000 | ||
Net gains and losses on financial assets held for trading (Total) | 0 | 0 | |
Loans | Gain on valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | 1,606,000,000 | ||
Net gains and losses on financial assets held for trading (Total) | 0 | 0 | |
Loans | Gain on disposals | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | 4,136,000,000 | ||
Net gains and losses on financial assets held for trading (Total) | 0 | 0 | |
Loans | Loss on valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | (4,805,000,000) | ||
Net gains and losses on financial assets held for trading (Total) | 0 | 0 | |
Loans | Loss on disposals | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | (117,000,000) | ||
Net gains and losses on financial assets held for trading (Total) | 0 | 0 | |
Other financial assets | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | 214,000,000 | ||
Net gains and losses on financial assets held for trading (Total) | 373,000,000 | 355,000,000 | |
Other financial assets | Gain on valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | 2,050,000,000 | ||
Net gains and losses on financial assets held for trading (Total) | 6,524,000,000 | 13,628,000,000 | |
Other financial assets | Gain on disposals | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | 530,000,000 | ||
Net gains and losses on financial assets held for trading (Total) | 2,353,000,000 | 2,404,000,000 | |
Other financial assets | Loss on valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | (2,280,000,000) | ||
Net gains and losses on financial assets held for trading (Total) | (7,885,000,000) | (14,033,000,000) | |
Other financial assets | Loss on disposals | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | (86,000,000) | ||
Net gains and losses on financial assets held for trading (Total) | (619,000,000) | (1,644,000,000) | |
Derivatives (for trading) | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | 65,810,000,000 | ||
Net gains and losses on financial assets held for trading (Total) | 2,681,000,000 | 175,804,000,000 | |
Interest rates derivatives | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | (47,663,000,000) | ||
Net gains and losses on financial assets held for trading (Total) | 44,880,000,000 | 22,024,000,000 | |
Interest rates derivatives | Gain on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | 1,255,581,000,000 | ||
Net gains and losses on financial assets held for trading (Total) | 1,088,192,000,000 | 1,423,606,000,000 | |
Interest rates derivatives | Loss on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | (1,303,244,000,000) | ||
Net gains and losses on financial assets held for trading (Total) | (1,043,312,000,000) | (1,401,582,000,000) | |
Currencies derivatives | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | 113,007,000,000 | ||
Net gains and losses on financial assets held for trading (Total) | (155,315,000,000) | 121,063,000,000 | |
Currencies derivatives | Gain on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | 4,935,922,000,000 | ||
Net gains and losses on financial assets held for trading (Total) | 7,253,426,000,000 | 5,804,420,000,000 | |
Currencies derivatives | Loss on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | (4,822,915,000,000) | ||
Net gains and losses on financial assets held for trading (Total) | (7,408,741,000,000) | (5,683,357,000,000) | |
Equity derivatives | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | 1,574,000,000 | ||
Net gains and losses on financial assets held for trading (Total) | 113,758,000,000 | 34,377,000,000 | |
Equity derivatives | Gain on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | 486,560,000,000 | ||
Net gains and losses on financial assets held for trading (Total) | 511,220,000,000 | 293,657,000,000 | |
Equity derivatives | Loss on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | (484,986,000,000) | ||
Net gains and losses on financial assets held for trading (Total) | (397,462,000,000) | (259,280,000,000) | |
Other derivatives | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | (1,108,000,000) | ||
Net gains and losses on financial assets held for trading (Total) | (642,000,000) | (1,660,000,000) | |
Other derivatives | Gain on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | 4,138,000,000 | ||
Net gains and losses on financial assets held for trading (Total) | 4,056,000,000 | 50,139,000,000 | |
Other derivatives | Loss on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Net gains and losses on financial instruments at FVTPL classified as held for trading (Total) | ₩ (5,246,000,000) | ||
Net gains and losses on financial assets held for trading (Total) | ₩ (4,698,000,000) | ₩ (51,799,000,000) |
Net gain or loss on financial_5
Net gain or loss on financial instruments at fair value through profit or loss mandatorily measured at fair value (IFRS 9 And IAS 39)_Details of net gain or loss on financial instrument at fair value through profit or loss designated as upon initial recognition (Details) - KRW (₩) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Gains losses on financial instruments at fair value through profit or loss designated as upon initial recognition [Line Items] | |||
Total net gains and losses on financial assets at fair value through profit or loss designated as upon initial recognition | ₩ 17,484,000,000 | ||
Total net gains and losses on financial assets designated at fair value through profit or loss | ₩ (110,950,000,000) | ₩ (71,399,000,000) | |
Equity-linked securities | |||
Gains losses on financial instruments at fair value through profit or loss designated as upon initial recognition [Line Items] | |||
Total net gains and losses on financial assets at fair value through profit or loss designated as upon initial recognition | 15,887,000,000 | ||
Total net gains and losses on financial assets designated at fair value through profit or loss | (112,476,000,000) | (76,172,000,000) | |
Securities | |||
Gains losses on financial instruments at fair value through profit or loss designated as upon initial recognition [Line Items] | |||
Total net gains and losses on financial assets at fair value through profit or loss designated as upon initial recognition | 0 | ||
Total net gains and losses on financial assets designated at fair value through profit or loss | 290,000,000 | 896,000,000 | |
Net gains and losses on disposals | Equity-linked securities | |||
Gains losses on financial instruments at fair value through profit or loss designated as upon initial recognition [Line Items] | |||
Total net gains and losses on financial assets at fair value through profit or loss designated as upon initial recognition | (2,058,000,000) | ||
Total net gains and losses on financial assets designated at fair value through profit or loss | (79,965,000,000) | (24,165,000,000) | |
Net gains and losses on disposals | Securities | |||
Gains losses on financial instruments at fair value through profit or loss designated as upon initial recognition [Line Items] | |||
Total net gains and losses on financial assets at fair value through profit or loss designated as upon initial recognition | 0 | ||
Total net gains and losses on financial assets designated at fair value through profit or loss | 0 | 14,000,000 | |
Net gains and losses on valuation | Equity-linked securities | |||
Gains losses on financial instruments at fair value through profit or loss designated as upon initial recognition [Line Items] | |||
Total net gains and losses on financial assets at fair value through profit or loss designated as upon initial recognition | 17,945,000,000 | ||
Total net gains and losses on financial assets designated at fair value through profit or loss | (32,511,000,000) | (52,007,000,000) | |
Net gains and losses on valuation | Securities | |||
Gains losses on financial instruments at fair value through profit or loss designated as upon initial recognition [Line Items] | |||
Total net gains and losses on financial assets at fair value through profit or loss designated as upon initial recognition | 0 | ||
Total net gains and losses on financial assets designated at fair value through profit or loss | 290,000,000 | 882,000,000 | |
Net gains and losses on valuation | Other financial instruments | |||
Gains losses on financial instruments at fair value through profit or loss designated as upon initial recognition [Line Items] | |||
Total net gains and losses on financial assets at fair value through profit or loss designated as upon initial recognition | ₩ 1,597,000,000 | ||
Total net gains and losses on financial assets designated at fair value through profit or loss | ₩ 1,236,000,000 | ₩ 3,877,000,000 |
Net gain or loss on financial a
Net gain or loss on financial assets at FVTOCI and AFS financial assets_Details of net gain on financial assets at FVTOCI and AFS financial assets recognized (Details) | 12 Months Ended | ||||
Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | Dec. 31, 2016KRW (₩) | ||
Disclosure of gains losses recognised in profit or loss availableforsale financial assets [Abstract] | |||||
Gains on redemption of securities (IFRS 9) | ₩ 53,000,000 | ||||
Gains on redemption of securities (IAS 39) | ₩ 47,000,000 | ₩ 721,000,000 | |||
Gains on transaction of securities (IFRS 9) | 1,994,000,000 | ||||
Gains on transaction of securities (IAS 39) | 223,961,000,000 | 47,985,000,000 | |||
Impairment losses on securities (IFRS 9) | 0 | ||||
Impairment losses on securities (IAS 39) | (31,300,000,000) | (49,741,000,000) | |||
Total | [1] | 2,047,000,000 | $ 1,840,000 | 0 | 0 |
Total | [1] | ₩ 0 | $ 0 | ₩ 192,708,000,000 | ₩ (1,035,000,000) |
[1] | The consolidated statements of comprehensive income for the year ended December 31, 2018 were prepared in accordance with IFRS 9; however, the comparative consolidated statements of comprehensive income for the years ended December 31, 2016 and 2017 were not retrospectively restated in accordance with IFRS 9. |
Impairment reverse (losses) due
Impairment reverse (losses) due to credit loss_Impairment reverse Losses due to credit loss (Details) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | Dec. 31, 2016KRW (₩) | |
Disclosure of impairment losses due to credit loss [Abstract] | ||||
Impairment loss due to credit loss on financial assets measured at FVTOCI | ₩ (2,027,000,000) | ₩ 0 | ₩ 0 | |
Impairment loss due to credit loss on securities at amortized cost | (1,922,000,000) | 0 | 0 | |
Provision for credit loss on loan and other financial assets at amortized cost | (415,084,000,000) | 0 | 0 | |
Impairment losses due to credit loss | 0 | (862,273,000,000) | (890,763,000,000) | |
Reversal of provision on guarantee | 105,985,000,000 | 55,424,000,000 | 59,780,000,000 | |
Reversal of provision on (provision for) unused loan commitment | (16,526,000,000) | 21,716,000,000 | (3,093,000,000) | |
Total | ₩ (329,574,000,000) | $ (296,140) | ₩ (785,133,000,000) | ₩ (834,076,000,000) |
General administrative expens_3
General administrative expenses and other net operating incomes (expenses)_Details of administrative expenses (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | Dec. 31, 2016KRW (₩) | |
Employee benefits | ||||
Salaries | ₩ 1,484,236 | ₩ 1,317,826 | ₩ 1,323,007 | |
Employee benefits | 468,012 | 559,562 | 466,585 | |
Retirement benefit service costs | 145,149 | 146,848 | 156,356 | |
Termination | 225,106 | 299,562 | 179,286 | |
Sub total | 2,322,503 | 2,323,798 | 2,125,234 | |
Depreciation and amortisation expense [Abstract] | ||||
Depreciation and amortization | 216,735 | 183,601 | 248,269 | |
Other general and administrative expense [Abstract] | ||||
Rent | 321,198 | 313,080 | 311,992 | |
Taxes and public dues | 115,454 | 111,248 | 102,531 | |
Service charges | 222,530 | 198,828 | 244,543 | |
Computer and IT related | 88,689 | 70,936 | 83,978 | |
Telephone and communication | 70,618 | 65,015 | 63,699 | |
Operating promotion | 43,540 | 43,850 | 48,115 | |
Advertising | 72,450 | 68,942 | 76,153 | |
Printing | 8,601 | 8,633 | 9,502 | |
Traveling | 12,757 | 13,064 | 11,681 | |
Supplies | 7,071 | 6,795 | 6,827 | |
Insurance premium | 8,355 | 8,548 | 8,092 | |
Reimbursement | 23,474 | 27,516 | 26,846 | |
Maintenance | 17,384 | 16,081 | 16,470 | |
Water, light and heating | 14,686 | 14,165 | 15,006 | |
Vehicle maintenance | 10,264 | 9,902 | 9,987 | |
Others | 47,724 | 46,799 | 69,551 | |
Sub total | 1,084,795 | 1,023,402 | 1,104,973 | |
Total | ₩ 3,624,033 | $ 3,256,387 | ₩ 3,530,801 | ₩ 3,478,476 |
General administrative expens_4
General administrative expenses and other net operating incomes (expenses)_Details of other operating incomes (Details) - KRW (₩) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Other operating income [Abstract] | ||||
Gain on transaction of foreign exchange | ₩ 1,227,561,000,000 | ₩ 3,391,095,000,000 | ₩ 4,791,772,000,000 | |
Gain on disposal of loans and receivables | [1] | 0 | 205,490,000,000 | 204,239,000,000 |
Gain related to derivatives (Designated to hedging) | 35,810,000,000 | 122,000,000 | 130,000,000 | |
Gain on fair value hedged items | 42,797,000,000 | 53,532,000,000 | 99,302,000,000 | |
Others | [2] | 82,417,000,000 | 86,159,000,000 | 112,079,000,000 |
Total | 1,388,585,000,000 | 3,736,398,000,000 | 5,207,522,000,000 | |
Income for payment to other creditor financial institutions | ₩ 29,316,000,000 | ₩ 29,336,000,000 | ₩ 74,700,000,000 | |
[1] | Gain (loss) on disposal of loan and receivables occurred during the year ended December 31, 2018 was presented as a separate account named 'Net gain related to financial assets at amortized cost' in accordance with the adoption of IFRS 9. | |||
[2] | Other income includes income amounting to 74,700 million Won, 29,336 million Won and 29,316 million Won for the years ended December 31, 2016, 2017 and 2018, respectively, which are related to the Group's expected payments from other creditor financial institutions in accordance with the creditor financial institutions committee agreement. |
General administrative expens_5
General administrative expenses and other net operating incomes (expenses)_Details of other operating expenses (Details) - KRW (₩) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Other operating expenses [Abstract] | ||||
Losses on transaction of foreign exchange | ₩ 991,423,000,000 | ₩ 2,886,535,000,000 | ₩ 4,706,055,000,000 | |
KDIC deposit insurance premium | 315,315,000,000 | 304,055,000,000 | 298,804,000,000 | |
Contribution to miscellaneous funds | 298,416,000,000 | 286,000,000,000 | 295,601,000,000 | |
Losses on disposals of loans and receivables | [1] | 0 | 9,221,000,000 | 4,265,000,000 |
Losses related to derivatives ( Designated for hedging ) | 36,483,000,000 | 109,569,000,000 | 98,981,000,000 | |
Losses on fair value hedged items | 17,299,000,000 | 0 | 475,000,000 | |
Others | [2] | 124,240,000,000 | 172,331,000,000 | 171,120,000,000 |
Total | 1,783,176,000,000 | 3,767,711,000,000 | 5,575,301,000,000 | |
Expenses for payment to other creditor financial institutions | 1,594,000,000 | 5,237,000,000 | ₩ 109,063,000,000 | |
Amortisation of other intangible assets included in other operating expenses | ₩ 48,292,000,000 | ₩ 51,770,000,000 | ||
[1] | Loss on disposal of loan and receivables occurred during the year ended December 31, 2018 was presented as a separate account named 'Net gain related to financial assets at amortized cost' in accordance with the adoption of IFRS 9. | |||
[2] | Others include such expenses amounting to 109,063 million Won, 5,237 million Won and 1,594 million Won for the years ended December 31, 2016, 2017 and 2018, respectively, that are related to the Group's expected payments to other creditor financial institutions in accordance with the creditor financial institutions committee agreement. In addition, they include 51,770 million Won and 48,292 million Won for the years ended December 31, 2017 and 2018, respectively, of intangible asset amortization expense. |
Other non-operating income (e_3
Other non-operating income (expense)_Details of non operating incomes and expenses (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | Dec. 31, 2016KRW (₩) | |
Gain or loss on valuation of investments in associates and joint ventures | ||||
Gains on valuation of investments in joint ventures and associates | ₩ 25,791 | ₩ 83,506 | ₩ 36,757 | |
Losses on valuation of investments in joint ventures and associates | (22,595) | (70,117) | (55,091) | |
Impairment losses of investments in joint ventures and associates | (177) | (114,903) | (1,173) | |
Total | 3,019 | $ 2,713 | (101,514) | (19,507) |
Other income disclosure nonoperating [Abstract] | ||||
Rental fee income | 6,835 | 6,973 | 7,291 | |
Gains on disposal of investment in joint ventures and associates | 50,511 | 39,932 | 23,457 | |
Gains on disposal of premises and equipment, intangble assets and other assets | 30,278 | 5,028 | 1,885 | |
Reversal of impairment loss of premises and equipment, intangible assets and other assets | 761 | 666 | 3,581 | |
Others | 41,324 | 31,762 | 96,058 | |
Total | 129,709 | 84,361 | 132,272 | |
Other expense disclosure nonoperating [Abstract] | ||||
Depreciation on investment properties | 4,045 | 3,902 | 3,762 | |
Interest expenses of refundable deposits | 620 | 459 | 496 | |
Losses on disposal of investment in joint ventures and associates | 2,931 | 38,713 | 15,060 | |
Losses on disposal of premises and equipment and other assets | 1,160 | 9,994 | 9,718 | |
Impairment losses on premises and equipment and other assets | 87 | 390 | 1,936 | |
Donation | 51,983 | 98,132 | 43,939 | |
Others | 26,331 | 38,493 | 58,671 | |
Total | 87,157 | 190,083 | 133,582 | |
Total | ₩ 42,552 | $ 38,235 | ₩ (105,722) | ₩ (1,310) |
Income tax expense_Details of i
Income tax expense_Details of income tax expenses (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | Dec. 31, 2016KRW (₩) | |
Current tax expense | ||||
Current tax expense in respect of the current year | ₩ 432,645 | ₩ 471,669 | ₩ 332,996 | |
Adjustments recognized in the current period in relation to the current tax of prior periods | 5,923 | (5,209) | (22,138) | |
Sub total | 438,568 | 466,460 | 310,858 | |
Deferred tax expense | ||||
Changes in deferred tax assets (liabilities) relating to the temporary differences | 314,655 | (47,042) | (35,002) | |
Income tax expense | ₩ 753,223 | $ 676,811 | ₩ 419,418 | ₩ 275,856 |
Income tax expense_Relationship
Income tax expense_Relationship between net income before income tax expense and Income tax expense (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | ||||
Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) | Dec. 31, 2016KRW (₩) | ||
Reconciliation of accounting profit multiplied by applicable tax rates [Abstract] | |||||
Net income(expense) before income tax expense | ₩ 2,804,872 | $ 2,520,327 | ₩ 1,949,506 | ₩ 1,553,389 | |
Tax calculated at statutory tax rate | [1] | 760,978 | 471,318 | 375,458 | |
Adjustments | |||||
Effect of income that is exempt from taxation | (49,418) | (55,983) | (75,166) | ||
Effect of expense that is not deductible in determining taxable profit | 18,639 | 22,254 | 13,664 | ||
Adjustments recognized in the current period in relation to the current tax of prior periods | 5,923 | (5,209) | (22,138) | ||
Others | 17,101 | (12,962) | (15,962) | ||
Sub total | (7,755) | (51,900) | (99,602) | ||
Income tax expense | ₩ 753,223 | $ 676,811 | ₩ 419,418 | ₩ 275,856 | |
Effective tax rate | 26.90% | 26.90% | 21.50% | 17.76% | |
Description of applicable tax rate by taxable income | [2] | The applicable income tax rate: 1) 11% for taxable income below 200 million Won, 2) 22% for above 200 million Won and below 20 billion Won, 3) 24.2% for above 20 billion Won and below 300 billion Won, 4) 27.5% for above 300 billion Won. | The applicable income tax rate: 1) 11% for taxable income below 200 million Won, 2) 22% for above 200 million Won and below 20 billion Won, 3) 24.2% for above 20 billion Won and below 300 billion Won, 4) 27.5% for above 300 billion Won. | ||
[1] | The applicable income tax rate: 1) 11% for taxable income below 200 million Won, 2) 22% for above 200 million Won and below 20 billion Won, 3) 24.2% for above 20 billion Won and below 300 billion Won, 4) 27.5% for above 300 billion Won. | ||||
[2] | The applicable income tax rate: 1) 11% for taxable income below 200 million Won, 2) 22% for above 200 million Won and below 20 billion Won, 3) 24.2% for above 20 billion Won and below 300 billion Won, 4) 27.5% for above 300 billion Won. |
Income tax expense_Details of T
Income tax expense_Details of Temporary differences unused tax losses and credits (Details) - KRW (₩) | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||||
Reconciliation of changes in deferred tax liability asset [Abstract] | ||||||
Beginning balance | ₩ 257,451,000,000 | ₩ 209,984,000,000 | ₩ 191,218,000,000 | |||
Beginning balance FY2017 | 209,987,000,000 | |||||
K-IFRS 1109 adoption effect | ||||||
Deferred Tax RelatingTo Items Charged Or Credited Directly To Equity IFRS9 Adoption | (74,482,000,000) | |||||
Recognized as comrephensive income (loss) | 149,796,000,000 | |||||
Beginning balance after K-IFRS 1109 adoption | 332,765,000,000 | |||||
Changes in deferred tax liability asset [Abstract] | ||||||
Business combination | 1,381,000,000 | |||||
Recognized as income (expense) | (314,653,000,000) | 47,043,000,000 | 35,002,000,000 | |||
Recognized as other comprehensive income (expense) | 21,992,000,000 | 421,000,000 | (16,236,000,000) | |||
Ending balance | 41,485,000,000 | 257,451,000,000 | 209,984,000,000 | |||
Deferred tax liability asset arising from Unused tax losses | 18,154,000,000 | ₩ 15,652,000,000 | ||||
Deferred Tax RelatingTo Items Charged Or Credited Directly To Equity Attributable To Non-controlling Interests | ₩ 1,429,000,000 | |||||
Description of composition of other termporary differences | Among the deferred tax assets and liabilities classified as 'Others,' the deferred tax asset arising from unused tax losses amounts to 18,154 million Won. | Among the deferred tax assets and liabilities classified as 'Others,' the deferred tax asset arising from unused tax losses amounts to 15,652 million Won. | ||||
Description of Recognized as other comprehensive income | Includes 1,429 million Won presented on non-controlling interests. | |||||
Gain (loss) on financial assets | ||||||
Reconciliation of changes in deferred tax liability asset [Abstract] | ||||||
Beginning balance | ₩ 479,065,000,000 | |||||
Beginning balance FY2017 | ₩ 407,128,000,000 | |||||
K-IFRS 1109 adoption effect | ||||||
Deferred Tax RelatingTo Items Charged Or Credited Directly To Equity IFRS9 Adoption | (150,140,000,000) | |||||
Recognized as comrephensive income (loss) | 149,796,000,000 | |||||
Beginning balance after K-IFRS 1109 adoption | 478,721,000,000 | |||||
Changes in deferred tax liability asset [Abstract] | ||||||
Business combination | 0 | |||||
Recognized as income (expense) | (102,170,000,000) | 72,945,000,000 | ||||
Recognized as other comprehensive income (expense) | (4,205,000,000) | [1] | (1,008,000,000) | |||
Ending balance | 372,346,000,000 | 479,065,000,000 | ||||
Gain (loss) on financial assets at FVTPL | ||||||
Reconciliation of changes in deferred tax liability asset [Abstract] | ||||||
Beginning balance | 427,205,000,000 | 445,729,000,000 | ||||
Changes in deferred tax liability asset [Abstract] | ||||||
Recognized as income (expense) | (18,524,000,000) | |||||
Recognized as other comprehensive income (expense) | 0 | |||||
Ending balance | 427,205,000,000 | |||||
Gain (loss) on available for sale financial assets | ||||||
Reconciliation of changes in deferred tax liability asset [Abstract] | ||||||
Beginning balance | (122,145,000,000) | (121,536,000,000) | ||||
Changes in deferred tax liability asset [Abstract] | ||||||
Recognized as income (expense) | 57,000,000 | |||||
Recognized as other comprehensive income (expense) | (666,000,000) | |||||
Ending balance | (122,145,000,000) | |||||
Gain (loss) on valuation using the equity method of accounting | ||||||
Reconciliation of changes in deferred tax liability asset [Abstract] | ||||||
Beginning balance | 24,482,000,000 | 32,943,000,000 | 5,106,000,000 | |||
Beginning balance FY2017 | 32,859,000,000 | |||||
K-IFRS 1109 adoption effect | ||||||
Deferred Tax RelatingTo Items Charged Or Credited Directly To Equity IFRS9 Adoption | 0 | |||||
Recognized as comrephensive income (loss) | 0 | |||||
Beginning balance after K-IFRS 1109 adoption | 24,482,000,000 | |||||
Changes in deferred tax liability asset [Abstract] | ||||||
Business combination | 0 | |||||
Recognized as income (expense) | 3,203,000,000 | (6,473,000,000) | 26,500,000,000 | |||
Recognized as other comprehensive income (expense) | 669,000,000 | [1] | (1,904,000,000) | 1,337,000,000 | ||
Ending balance | 28,354,000,000 | 24,482,000,000 | 32,943,000,000 | |||
Gain (loss) on valuation of derivatives | ||||||
Reconciliation of changes in deferred tax liability asset [Abstract] | ||||||
Beginning balance | (10,260,000,000) | (43,853,000,000) | (39,774,000,000) | |||
Beginning balance FY2017 | (43,818,000,000) | |||||
K-IFRS 1109 adoption effect | ||||||
Deferred Tax RelatingTo Items Charged Or Credited Directly To Equity IFRS9 Adoption | (3,990,000,000) | |||||
Recognized as comrephensive income (loss) | 0 | |||||
Beginning balance after K-IFRS 1109 adoption | (14,250,000,000) | |||||
Changes in deferred tax liability asset [Abstract] | ||||||
Business combination | 0 | |||||
Recognized as income (expense) | (13,617,000,000) | 33,806,000,000 | (4,079,000,000) | |||
Recognized as other comprehensive income (expense) | 360,000,000 | [1] | (248,000,000) | 0 | ||
Ending balance | (27,507,000,000) | (10,260,000,000) | (43,853,000,000) | |||
Accrued income | ||||||
Reconciliation of changes in deferred tax liability asset [Abstract] | ||||||
Beginning balance | (60,987,000,000) | (69,960,000,000) | (82,148,000,000) | |||
Beginning balance FY2017 | (69,959,000,000) | |||||
K-IFRS 1109 adoption effect | ||||||
Deferred Tax RelatingTo Items Charged Or Credited Directly To Equity IFRS9 Adoption | 0 | |||||
Recognized as comrephensive income (loss) | 0 | |||||
Beginning balance after K-IFRS 1109 adoption | (60,987,000,000) | |||||
Changes in deferred tax liability asset [Abstract] | ||||||
Business combination | 621,000,000 | |||||
Recognized as income (expense) | 4,520,000,000 | 8,972,000,000 | 12,188,000,000 | |||
Recognized as other comprehensive income (expense) | 0 | [1] | 0 | 0 | ||
Ending balance | (55,846,000,000) | (60,987,000,000) | (69,960,000,000) | |||
Provision for loan losses | ||||||
Reconciliation of changes in deferred tax liability asset [Abstract] | ||||||
Beginning balance | (47,697,000,000) | (46,811,000,000) | (50,504,000,000) | |||
Beginning balance FY2017 | (46,811,000,000) | |||||
K-IFRS 1109 adoption effect | ||||||
Deferred Tax RelatingTo Items Charged Or Credited Directly To Equity IFRS9 Adoption | 47,446,000,000 | |||||
Recognized as comrephensive income (loss) | 0 | |||||
Beginning balance after K-IFRS 1109 adoption | (251,000,000) | |||||
Changes in deferred tax liability asset [Abstract] | ||||||
Business combination | 399,000,000 | |||||
Recognized as income (expense) | (52,493,000,000) | (886,000,000) | 3,693,000,000 | |||
Recognized as other comprehensive income (expense) | 0 | [1] | 0 | 0 | ||
Ending balance | (52,345,000,000) | (47,697,000,000) | (46,811,000,000) | |||
Loan and receivables written off | ||||||
Reconciliation of changes in deferred tax liability asset [Abstract] | ||||||
Beginning balance | 9,777,000,000 | 53,915,000,000 | 54,225,000,000 | |||
Beginning balance FY2017 | 53,915,000,000 | |||||
K-IFRS 1109 adoption effect | ||||||
Deferred Tax RelatingTo Items Charged Or Credited Directly To Equity IFRS9 Adoption | 0 | |||||
Recognized as comrephensive income (loss) | 0 | |||||
Beginning balance after K-IFRS 1109 adoption | 9,777,000,000 | |||||
Changes in deferred tax liability asset [Abstract] | ||||||
Business combination | 0 | |||||
Recognized as income (expense) | (3,105,000,000) | (44,138,000,000) | (310,000,000) | |||
Recognized as other comprehensive income (expense) | 0 | [1] | 0 | 0 | ||
Ending balance | 6,672,000,000 | 9,777,000,000 | 53,915,000,000 | |||
Loan origination costs and fees | ||||||
Reconciliation of changes in deferred tax liability asset [Abstract] | ||||||
Beginning balance | (137,320,000,000) | (108,102,000,000) | (103,912,000,000) | |||
Beginning balance FY2017 | (108,102,000,000) | |||||
K-IFRS 1109 adoption effect | ||||||
Deferred Tax RelatingTo Items Charged Or Credited Directly To Equity IFRS9 Adoption | 36,000,000 | |||||
Recognized as comrephensive income (loss) | 0 | |||||
Beginning balance after K-IFRS 1109 adoption | (137,284,000,000) | |||||
Changes in deferred tax liability asset [Abstract] | ||||||
Business combination | 0 | |||||
Recognized as income (expense) | (17,147,000,000) | (29,218,000,000) | (4,190,000,000) | |||
Recognized as other comprehensive income (expense) | 0 | [1] | 0 | 0 | ||
Ending balance | (154,431,000,000) | (137,320,000,000) | (108,102,000,000) | |||
Defined benefit liability | ||||||
Reconciliation of changes in deferred tax liability asset [Abstract] | ||||||
Beginning balance | 284,234,000,000 | 225,045,000,000 | 203,423,000,000 | |||
Beginning balance FY2017 | 225,045,000,000 | |||||
K-IFRS 1109 adoption effect | ||||||
Deferred Tax RelatingTo Items Charged Or Credited Directly To Equity IFRS9 Adoption | 0 | |||||
Recognized as comrephensive income (loss) | 0 | |||||
Beginning balance after K-IFRS 1109 adoption | 284,234,000,000 | |||||
Changes in deferred tax liability asset [Abstract] | ||||||
Business combination | 317,000,000 | |||||
Recognized as income (expense) | 43,821,000,000 | 54,533,000,000 | 32,536,000,000 | |||
Recognized as other comprehensive income (expense) | 31,715,000,000 | [1] | 4,656,000,000 | (10,914,000,000) | ||
Ending balance | 360,087,000,000 | 284,234,000,000 | 225,045,000,000 | |||
Deposits with employee retirement insurance trust | ||||||
Reconciliation of changes in deferred tax liability asset [Abstract] | ||||||
Beginning balance | (287,333,000,000) | (226,321,000,000) | (187,044,000,000) | |||
Beginning balance FY2017 | (226,321,000,000) | |||||
K-IFRS 1109 adoption effect | ||||||
Deferred Tax RelatingTo Items Charged Or Credited Directly To Equity IFRS9 Adoption | 0 | |||||
Recognized as comrephensive income (loss) | 0 | |||||
Beginning balance after K-IFRS 1109 adoption | (287,333,000,000) | |||||
Changes in deferred tax liability asset [Abstract] | ||||||
Business combination | 0 | |||||
Recognized as income (expense) | (31,092,000,000) | (61,012,000,000) | (39,277,000,000) | |||
Recognized as other comprehensive income (expense) | 95,000,000 | [1] | 0 | 0 | ||
Ending balance | (318,330,000,000) | (287,333,000,000) | (226,321,000,000) | |||
Provision for guarantee | ||||||
Reconciliation of changes in deferred tax liability asset [Abstract] | ||||||
Beginning balance | 30,602,000,000 | 41,138,000,000 | 69,225,000,000 | |||
Beginning balance FY2017 | 41,138,000,000 | |||||
K-IFRS 1109 adoption effect | ||||||
Deferred Tax RelatingTo Items Charged Or Credited Directly To Equity IFRS9 Adoption | 1,370,000,000 | |||||
Recognized as comrephensive income (loss) | 0 | |||||
Beginning balance after K-IFRS 1109 adoption | 31,972,000,000 | |||||
Changes in deferred tax liability asset [Abstract] | ||||||
Business combination | 0 | |||||
Recognized as income (expense) | (20,598,000,000) | (10,536,000,000) | (28,087,000,000) | |||
Recognized as other comprehensive income (expense) | 0 | [1] | 0 | 0 | ||
Ending balance | 11,374,000,000 | 30,602,000,000 | 41,138,000,000 | |||
Other provisions | ||||||
Reconciliation of changes in deferred tax liability asset [Abstract] | ||||||
Beginning balance | 45,153,000,000 | 32,392,000,000 | 27,898,000,000 | |||
Beginning balance FY2017 | 32,392,000,000 | |||||
K-IFRS 1109 adoption effect | ||||||
Deferred Tax RelatingTo Items Charged Or Credited Directly To Equity IFRS9 Adoption | 25,879,000,000 | |||||
Recognized as comrephensive income (loss) | 0 | |||||
Beginning balance after K-IFRS 1109 adoption | 71,032,000,000 | |||||
Changes in deferred tax liability asset [Abstract] | ||||||
Business combination | 0 | |||||
Recognized as income (expense) | 4,162,000,000 | 12,761,000,000 | 4,494,000,000 | |||
Recognized as other comprehensive income (expense) | 0 | [1] | 0 | 0 | ||
Ending balance | 75,194,000,000 | 45,153,000,000 | 32,392,000,000 | |||
Others | ||||||
Reconciliation of changes in deferred tax liability asset [Abstract] | ||||||
Beginning balance | (72,265,000,000) | [2] | 14,538,000,000 | (29,470,000,000) | ||
Beginning balance FY2017 | [2] | (87,479,000,000) | ||||
K-IFRS 1109 adoption effect | ||||||
Deferred Tax RelatingTo Items Charged Or Credited Directly To Equity IFRS9 Adoption | [3] | 4,917,000,000 | ||||
Recognized as comrephensive income (loss) | [3] | 0 | ||||
Beginning balance after K-IFRS 1109 adoption | [3] | (67,348,000,000) | ||||
Changes in deferred tax liability asset [Abstract] | ||||||
Business combination | [3] | 44,000,000 | ||||
Recognized as income (expense) | (130,137,000,000) | [3] | 16,289,000,000 | [2] | 50,001,000,000 | |
Recognized as other comprehensive income (expense) | (6,642,000,000) | [1],[3] | (1,075,000,000) | [2] | (5,993,000,000) | |
Ending balance | ₩ (204,083,000,000) | [3] | ₩ (72,265,000,000) | [2] | ₩ 14,538,000,000 | |
[1] | Includes 1,429 million Won presented on non-controlling interests. | |||||
[2] | Among the deferred tax assets and liabilities classified as 'Others,' the deferred tax asset arising from unused tax losses amounts to 15,652 million Won. | |||||
[3] | Among the deferred tax assets and liabilities classified as 'Others,' the deferred tax asset arising from unused tax losses amounts to 18,154 million Won. |
Income Tax Expense_Unrecognized
Income Tax Expense_Unrecognized temporary differences (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Unrecognized Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deductible temporary differences | ₩ 272,911 | ₩ 126,818 |
Tax loss carry forward | 149,035 | 96,135 |
Taxable temporary differences | (868,541) | (1,298,586) |
Total | ₩ (446,595) | ₩ (1,075,633) |
Details Of Deductible Temporary Differences For Which No Deferred Tax Asset Is Recognised | No deferred income tax asset has been recognized for the deductible temporary difference of 227,144 million Won associated with investments in subsidiaries and associates as of December 31, 2018, because it is not probable that the temporary differences will be reversed in the foreseeable future. 45,767 million Won associated with others, respectively, as of December 31, 2018, due to the uncertainty that these will be realized in the future. | |
Details Of Taxable Temporary Differences For Which No Deferred Tax Liabilities Are Recognised | No deferred income tax liability has been recognized for the taxable temporary difference of 866,294 million Won associated with investment in subsidiaries and associates as of December 31, 2018, due to the following reasons: - The Group is able to control the timing of the reversal of the temporary difference. - It is probable that the temporary difference will not be reversed in the foreseeable future. 2,247 million Won associated with others are not recognized as deferred tax liabilities as it is not probable that the associated temporary differences will be reversed in the foreseeable future. | |
Temporary Differences Associated With Investments In Subsidiaries Branches And Associates And Interests In Joint Ventures | ||
Disclosure Of Unrecognized Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deductible temporary differences | ₩ 227,144 | |
Temporary differences associated with investments in subsidiaries, branches and associates and interests in joint arrangements for which deferred tax liabilities have not been recognised | 866,294 | |
Temporary Differences Associated With Others | ||
Disclosure Of Unrecognized Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deductible temporary differences | 45,767 | |
Temporary Differences For Which No Deferred Tax Liability Is Recognised | ₩ 2,247 |
Expiry Date of Tax Loss Carry F
Expiry Date of Tax Loss Carry Forward (Details) - KRW (₩) | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Tax loss carry forward | ₩ 149,035,000,000 | ₩ 96,135,000,000 |
1 year or less | ||
Disclosure Of Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Tax loss carry forward | 0 | |
1-2 years | ||
Disclosure Of Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Tax loss carry forward | 0 | |
2-3 years | ||
Disclosure Of Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Tax loss carry forward | 0 | |
More than 3 years | ||
Disclosure Of Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Tax loss carry forward | ₩ 149,035,000,000 |
Income Tax Expense_Deferred tax
Income Tax Expense_Deferred tax charged directly to other comprehensive income (Details) - KRW (₩) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Deferred Tax Relating To Items Charged Or Credited Directly To Equity [Abstract] | ||
Net gain on valuation of financial assets at FVTOCI | ₩ 31,422,000,000 | ₩ 0 |
Loss on valuation of AFS securities | 0 | (114,169,000,000) |
Share of other comprehensive loss of jointly controlled entities and associates | (285,000,000) | (954,000,000) |
Gain on foreign currency translation of foreign operations | 8,183,000,000 | 15,855,000,000 |
Remeasurements of the net defined benefit liability | 88,127,000,000 | 56,317,000,000 |
Gain (loss) on derivatives designated as cash flow hedge | 1,140,000,000 | (248,000,000) |
Total | ₩ 128,587,000,000 | ₩ (43,199,000,000) |
Income Tax Expense_Current tax
Income Tax Expense_Current tax assets and liabilities (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2018KRW (₩) | Dec. 31, 2018USD ($) | Dec. 31, 2017KRW (₩) |
Disclosure Of Current Tax Assets Liabilities [Abstract] | |||
Current tax assets | ₩ 20,730 | $ 18,627 | ₩ 4,722 |
Current tax liabilities | ₩ 159,078 | $ 142,940 | ₩ 232,600 |
Earnings per share_Details of e
Earnings per share_Details of earnings per share (Details) ₩ / shares in Units, $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2018KRW (₩)₩ / sharesshares | Dec. 31, 2018USD ($)shares | Dec. 31, 2017KRW (₩)₩ / sharesshares | Dec. 31, 2016KRW (₩)₩ / sharesshares | |
Basic earnings per share [Abstract] | ||||
Net income attributable to shareholders | ₩ 2,033,182 | $ 1,826,922 | ₩ 1,512,148 | ₩ 1,261,266 |
Dividends to hybrid securities | ₩ | (151,194) | (167,072) | (206,515) | |
Net income attributable to common shareholders | ₩ | ₩ 1,881,988 | ₩ 1,345,076 | ₩ 1,054,751 | |
Weighted average number of common shares outstanding | shares | 673,000,000 | 673,000,000 | 673,000,000 | 673,000,000 |
Basic Earnings Per Share | ₩ / shares | ₩ 2,796 | ₩ 1,999 | ₩ 1,567 | |
Diluted earnings per share [Abstract] | ||||
Diluted earnings per share | ₩ / shares | ₩ 2,796 | ₩ 1,999 | ₩ 1,567 |
Contingent liabilities and co_3
Contingent liabilities and commitments_Details of contingent liabilities and commitments (Details) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2018KRW (₩) | Dec. 31, 2017KRW (₩) | ||
Disclosure of contingent liabilities [Line Items] | |||
Total of guarantees | ₩ 12,666,417 | ₩ 12,859,715 | |
Loan commitments | 97,796,704 | 80,760,325 | |
Other commitments | ₩ 5,041,314 | ₩ 4,546,090 | |
Number of cases as plaintiff | [1] | 77 | 83 |
Number of cases as defendant | [1] | 154 | 155 |
Amount of litigation as plaintiff | ₩ 494,645 | ₩ 413,267 | |
Amount of litigation as defendant | 246,826 | 244,767 | |
Provisions for litigations | 17,925 | 9,277 | |
Confirmed guarantees | |||
Disclosure of contingent liabilities [Line Items] | |||
Total of guarantees | 7,108,365 | 6,875,021 | |
Guarantee for loans | |||
Disclosure of contingent liabilities [Line Items] | |||
Total of guarantees | 125,870 | 157,299 | |
Acceptances | |||
Disclosure of contingent liabilities [Line Items] | |||
Total of guarantees | 371,525 | 320,519 | |
Guarantees in acceptances of imported goods | |||
Disclosure of contingent liabilities [Line Items] | |||
Total of guarantees | 158,179 | 108,238 | |
Other confirmed guarantees | |||
Disclosure of contingent liabilities [Line Items] | |||
Total of guarantees | 6,452,791 | 6,288,965 | |
Unconfirmed guarantees | |||
Disclosure of contingent liabilities [Line Items] | |||
Total of guarantees | 4,297,465 | 4,526,593 | |
Local letters of credit | |||
Disclosure of contingent liabilities [Line Items] | |||
Total of guarantees | 305,057 | 383,117 | |
Letters of credit | |||
Disclosure of contingent liabilities [Line Items] | |||
Total of guarantees | 3,322,731 | 3,637,787 | |
Other unconfirmed guarantees | |||
Disclosure of contingent liabilities [Line Items] | |||
Total of guarantees | 669,677 | 505,689 | |
Commercial paper purchase commitments and others | |||
Disclosure of contingent liabilities [Line Items] | |||
Total of guarantees | ₩ 1,260,587 | ₩ 1,458,101 | |
[1] | The numbers of lawsuits as of December 31, 2017 and 2018 do not include fraud lawsuits, etc. and those lawsuits that are filed only to extend the statute of limitation. |
Related party transactions_Deta
Related party transactions_Details of transactions with related parties (Details) - KRW (₩) | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Payment guarantees to related parties | ₩ 0 | ₩ 71,459,000,000 | |||
KDIC | |||||
Related party transactions [Abstract] | |||||
Interest income | 0 | 0 | ₩ 11,778,000,000 | ||
Interest expenses | ₩ 0 | ₩ 15,331,000,000 | ₩ 20,966,000,000 | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Description of nature of related party relationship | Corporation that has significant influence over the group | Corporation that has significant influence over the group | Corporation that has significant influence over the group | ||
Description of changes of ownership interest of related party | [1] | As its ownership interest in the Group is lower than 20% as of December 31, 2017, it has been excluded from the 'corporation that have significant influence over the Group' category. | As its ownership interest in the Group is lower than 20% as of December 31, 2017, it has been excluded from the 'corporation that have significant influence over the Group' category. | As its ownership interest in the Group is lower than 20% as of December 31, 2017, it has been excluded from the 'corporation that have significant influence over the Group' category. | |
Kumho Tire Co., Inc. | |||||
Outstanding balances for related party transactions [Abstract] | |||||
Loans | ₩ 0 | ₩ 170,917,000,000 | |||
Loss allowance | 0 | (156,712,000,000) | |||
Deposits due to customers | 0 | 666,000,000 | |||
Other liabilities | 0 | 50,000,000 | |||
Related party transactions [Abstract] | |||||
Interest income | 1,098,000,000 | 2,641,000,000 | ₩ 2,430,000,000 | ||
Interest expenses | 0 | 1,000,000 | 68,000,000 | ||
Fees income | 0 | 5,000,000 | 6,000,000 | ||
Impairment losses due to credit loss (reversal of allowance for credit loss) | (156,712,000,000) | 155,997,000,000 | ₩ 162,000,000 | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Unused loan commitment | 0 | 636,000,000 | |||
Import credit in foreign currencies and others | ₩ 0 | ₩ 4,181,000,000 | [2] | ||
Description of nature of related party relationship | Associates | Associates | Associates | ||
Description of changes of ownership interest of related party | [2] | The Group lost significant influence over the entity due to the termination of the joint management procedures of the creditors' financial institution during the year December 31, 2018, and thus the entity was excluded from the list of associates. | The Group lost significant influence over the entity due to the termination of the joint management procedures of the creditors' financial institution during the year December 31, 2018, and thus the entity was excluded from the list of associates. | The Group lost significant influence over the entity due to the termination of the joint management procedures of the creditors' financial institution during the year December 31, 2018, and thus the entity was excluded from the list of associates. | |
Woori Service Networks Co., Ltd. | |||||
Outstanding balances for related party transactions [Abstract] | |||||
Loans | ₩ 69,000,000 | ₩ 45,000,000 | |||
Deposits due to customers | 1,967,000,000 | 1,311,000,000 | |||
Other liabilities | 333,000,000 | 357,000,000 | |||
Related party transactions [Abstract] | |||||
Interest expenses | 14,000,000 | 24,000,000 | ₩ 49,000,000 | ||
Fees expenses | 561,000,000 | 543,000,000 | 985,000,000 | ||
Other income | 30,000,000 | 30,000,000 | 29,000,000 | ||
Other expenses | 580,000,000 | 507,000,000 | ₩ 222,000,000 | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Unused loan commitment | ₩ 131,000,000 | ₩ 155,000,000 | |||
Description of nature of related party relationship | Associates | Associates | Associates | ||
Korea Credit Bureau Co., Ltd. | |||||
Outstanding balances for related party transactions [Abstract] | |||||
Loans | ₩ 7,000,000 | ₩ 6,000,000 | |||
Deposits due to customers | 6,494,000,000 | 5,586,000,000 | |||
Other liabilities | 19,000,000 | 54,000,000 | |||
Related party transactions [Abstract] | |||||
Interest expenses | 62,000,000 | 82,000,000 | ₩ 138,000,000 | ||
Fees expenses | 2,310,000,000 | 2,079,000,000 | ₩ 1,915,000,000 | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Unused loan commitment | ₩ 28,000,000 | ₩ 29,000,000 | |||
Description of nature of related party relationship | Associates | Associates | Associates | ||
Korea Finance Security Co., Ltd. | |||||
Outstanding balances for related party transactions [Abstract] | |||||
Loans | ₩ 57,000,000 | ₩ 56,000,000 | |||
Loss allowance | (4,000,000) | 0 | |||
Deposits due to customers | 5,040,000,000 | 2,854,000,000 | |||
Other liabilities | 10,000,000 | 7,000,000 | |||
Related party transactions [Abstract] | |||||
Interest expenses | 12,000,000 | 12,000,000 | ₩ 10,000,000 | ||
Fees expenses | 0 | 0 | 110,000,000 | ||
Impairment losses due to credit loss (reversal of allowance for credit loss) | 4,000,000 | 0 | 0 | ||
Other expenses | 146,000,000 | 0 | ₩ 0 | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Unused loan commitment | ₩ 203,000,000 | ₩ 204,000,000 | |||
Description of nature of related party relationship | Associates | Associates | Associates | ||
Chin Hung International Inc. | |||||
Outstanding balances for related party transactions [Abstract] | |||||
Loans | ₩ 411,000,000 | ₩ 408,000,000 | |||
Loss allowance | (204,000,000) | (22,000,000) | |||
Deposits due to customers | 11,605,000,000 | 46,220,000,000 | |||
Other liabilities | 2,974,000,000 | 1,658,000,000 | |||
Related party transactions [Abstract] | |||||
Interest income | 0 | 364,000,000 | ₩ 240,000,000 | ||
Interest expenses | 43,000,000 | 27,000,000 | 28,000,000 | ||
Fees income | 0 | 1,000,000 | 1,000,000 | ||
Impairment losses due to credit loss (reversal of allowance for credit loss) | 182,000,000 | (4,265,000,000) | ₩ (481,000,000) | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Unused loan commitment | ₩ 32,058,000,000 | ₩ 31,891,000,000 | |||
Description of nature of related party relationship | Associates | Associates | Associates | ||
Poonglim Industrial Co., Ltd. | |||||
Outstanding balances for related party transactions [Abstract] | |||||
Deposits due to customers | ₩ 0 | ₩ 4,000,000 | |||
Related party transactions [Abstract] | |||||
Interest expenses | 0 | 0 | ₩ 2,000,000 | ||
Impairment losses due to credit loss (reversal of allowance for credit loss) | ₩ 0 | ₩ 0 | ₩ (1,557,000,000) | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Description of nature of related party relationship | Associates | Associates | Associates | ||
Description of changes of ownership interest of related party | [3] | The Group lost significant influence over the entity due to the stock consolidation and the capital increase of the associate during the year ended December 31, 2018, and thus the entity was excluded from the list of associates. | The Group lost significant influence over the entity due to the stock consolidation and the capital increase of the associate during the year ended December 31, 2018, and thus the entity was excluded from the list of associates. | The Group lost significant influence over the entity due to the stock consolidation and the capital increase of the associate during the year ended December 31, 2018, and thus the entity was excluded from the list of associates. | |
STX Engine Co., Ltd. | |||||
Outstanding balances for related party transactions [Abstract] | |||||
Loans | ₩ 0 | ₩ 106,176,000,000 | |||
Loss allowance | 0 | (88,734,000,000) | |||
Deposits due to customers | 0 | 18,092,000,000 | |||
Other liabilities | 0 | 29,000,000 | |||
Related party transactions [Abstract] | |||||
Interest income | 333,000,000 | 1,417,000,000 | ₩ 1,348,000,000 | ||
Interest expenses | 86,000,000 | 147,000,000 | 97,000,000 | ||
Fees income | 0 | 28,000,000 | 58,000,000 | ||
Impairment losses due to credit loss (reversal of allowance for credit loss) | (88,734,000,000) | (797,000,000) | ₩ 63,866,000,000 | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Import credit in foreign currencies and others | ₩ 0 | ₩ 68,858,000,000 | [4] | ||
Description of nature of related party relationship | Associates | Associates | Associates | ||
Description of changes of ownership interest of related party | [4] | The shares of the entity were sold after it was transferred to assets held for sale during the years ended December 31, 2018 and thus was excluded from the list of associates. | The shares of the entity were sold after it was transferred to assets held for sale during the years ended December 31, 2018 and thus was excluded from the list of associates. | The shares of the entity were sold after it was transferred to assets held for sale during the years ended December 31, 2018 and thus was excluded from the list of associates. | |
STX Corporation | |||||
Outstanding balances for related party transactions [Abstract] | |||||
Loans | ₩ 0 | ₩ 47,711,000,000 | |||
Loss allowance | 0 | (31,210,000,000) | |||
Deposits due to customers | 0 | 77,555,000,000 | |||
Other liabilities | 0 | 80,000,000 | |||
Related party transactions [Abstract] | |||||
Interest income | 0 | 219,000,000 | ₩ 1,039,000,000 | ||
Interest expenses | 2,000,000 | 4,000,000 | 7,000,000 | ||
Fees income | 0 | 30,000,000 | 75,000,000 | ||
Impairment losses due to credit loss (reversal of allowance for credit loss) | (31,210,000,000) | (61,432,000,000) | ₩ 73,457,000,000 | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Unused loan commitment | 0 | 53,000,000 | |||
Import credit in foreign currencies and others | ₩ 0 | ₩ 17,557,000,000 | [4] | ||
Description of nature of related party relationship | Associates | Associates | Associates | ||
Description of changes of ownership interest of related party | [4] | The shares of the entity were sold after it was transferred to assets held for sale during the years ended December 31, 2018 and thus was excluded from the list of associates. | The shares of the entity were sold after it was transferred to assets held for sale during the years ended December 31, 2018 and thus was excluded from the list of associates. | The shares of the entity were sold after it was transferred to assets held for sale during the years ended December 31, 2018 and thus was excluded from the list of associates. | |
K BANK Co., Ltd. | |||||
Outstanding balances for related party transactions [Abstract] | |||||
Loans | ₩ 190,000,000 | ₩ 212,000,000 | |||
Related party transactions [Abstract] | |||||
Fees income | 1,134,000,000 | 0 | ₩ 296,000,000 | ||
Other income | 19,000,000 | 1,051,000,000 | ₩ 1,638,000,000 | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Unused loan commitment | ₩ 15,000,000 | ₩ 0 | |||
Description of nature of related party relationship | Associates | Associates | Associates | ||
Description of changes of ownership interest of related party | [5] | Due to capital contribution during the year ended December 31, 2016, the entity has been included in the investment in associates. | Due to capital contribution during the year ended December 31, 2016, the entity has been included in the investment in associates. | Due to capital contribution during the year ended December 31, 2016, the entity has been included in the investment in associates. | |
Well to Sea no.3 Private Equity Fund | |||||
Outstanding balances for related party transactions [Abstract] | |||||
Loans | ₩ 1,857,000,000 | ₩ 73,810,000,000 | |||
Loss allowance | (9,000,000) | (39,000,000) | |||
Deposits due to customers | 356,000,000 | 61,000,000 | |||
Other liabilities | 64,000,000 | 27,000,000 | |||
Related party transactions [Abstract] | |||||
Interest income | 2,179,000,000 | 982,000,000 | ₩ 0 | ||
Interest expenses | 9,000,000 | 4,000,000 | 0 | ||
Impairment losses due to credit loss (reversal of allowance for credit loss) | (30,000,000) | 39,000,000 | ₩ 0 | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Unused loan commitment | ₩ 208,143,000,000 | ₩ 236,190,000,000 | |||
Description of nature of related party relationship | Associates | Associates | Associates | ||
Description of changes of ownership interest of related party | [6] | Due to capital contribution for the year ended December 31, 2017, the entity has been included in the list of associates. | Due to capital contribution for the year ended December 31, 2017, the entity has been included in the list of associates. | Due to capital contribution for the year ended December 31, 2017, the entity has been included in the list of associates. | |
Others | |||||
Outstanding balances for related party transactions [Abstract] | |||||
Loans | ₩ 4,783,000,000 | ₩ 499,000,000 | |||
Loss allowance | (324,000,000) | (471,000,000) | |||
Other assets | 9,000,000 | 1,000,000 | |||
Deposits due to customers | 8,049,000,000 | 2,906,000,000 | |||
Other liabilities | 165,000,000 | 73,000,000 | |||
Related party transactions [Abstract] | |||||
Interest income | 233,000,000 | 0 | ₩ 0 | ||
Interest expenses | 40,000,000 | 13,000,000 | 17,000,000 | ||
Fees income | 23,000,000 | 0 | 0 | ||
Impairment losses due to credit loss (reversal of allowance for credit loss) | (147,000,000) | 218,000,000 | 253,000,000 | ||
Other income | ₩ 14,000,000 | ₩ 0 | ₩ 0 | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Description of nature of related party relationship | Associates | Associates | Associates | ||
Description of other related parties with outstanding balances | [7] | Others include Saman Corporation, Kyesan Engineering Co., Ltd., DAEA SNC Co., Ltd., etc., as of December 31, 2017 and 2018. | Others include Saman Corporation, Kyesan Engineering Co., Ltd., DAEA SNC Co., Ltd., etc., as of December 31, 2017 and 2018. | ||
Description of other related parties with transactions | [8] | Others include the amount transacted with Saman Corporation, Kyesan Engineering Co., Ltd., DAEA SNC Co., Ltd., etc., for the years ended December 31, 2017 and 2018, and Saman Corporation, Kyesan Engineering Co., Ltd., Gachi Staff Co., Ltd., QTS Shipping Co., Ltd., and others were included as of December 31, 2016, respectively. | Others include the amount transacted with Saman Corporation, Kyesan Engineering Co., Ltd., DAEA SNC Co., Ltd., etc., for the years ended December 31, 2017 and 2018, and Saman Corporation, Kyesan Engineering Co., Ltd., Gachi Staff Co., Ltd., QTS Shipping Co., Ltd., and others were included as of December 31, 2016, respectively. | Others include the amount transacted with Saman Corporation, Kyesan Engineering Co., Ltd., DAEA SNC Co., Ltd., etc., for the years ended December 31, 2017 and 2018, and Saman Corporation, Kyesan Engineering Co., Ltd., Gachi Staff Co., Ltd., QTS Shipping Co., Ltd., and others were included as of December 31, 2016, respectively. | |
Woori Blackstone Korea Opportunity Private Equity Fund No. 1 | |||||
Related party transactions [Abstract] | |||||
Fees income | ₩ 0 | ₩ 6,225,000,000 | ₩ 1,364,000,000 | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Description of nature of related party relationship | Associates | Associates | Associates | ||
Description of changes of ownership interest of related party | [9] | The entity is excluded from the list of associates due to its liquidation for the year ended December 31, 2017. | The entity is excluded from the list of associates due to its liquidation for the year ended December 31, 2017. | The entity is excluded from the list of associates due to its liquidation for the year ended December 31, 2017. | |
Samho International Co., Ltd. | |||||
Related party transactions [Abstract] | |||||
Interest income | ₩ 0 | ₩ 486,000,000 | ₩ 916,000,000 | ||
Interest expenses | 0 | 334,000,000 | 525,000,000 | ||
Fees income | 0 | 5,000,000 | 5,000,000 | ||
Impairment losses due to credit loss (reversal of allowance for credit loss) | ₩ 0 | ₩ (717,000,000) | ₩ (5,166,000,000) | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Description of nature of related party relationship | Associates | Associates | Associates | ||
Description of changes of ownership interest of related party | [10] | The shares of the entity were sold after it was transferred to assets held for sale during the year ended December 31, 2017 and thus was excluded from the list of associates. | The shares of the entity were sold after it was transferred to assets held for sale during the year ended December 31, 2017 and thus was excluded from the list of associates. | The shares of the entity were sold after it was transferred to assets held for sale during the year ended December 31, 2017 and thus was excluded from the list of associates. | |
Force TEC C Co., Ltd. | |||||
Related party transactions [Abstract] | |||||
Interest income | ₩ 0 | ₩ 0 | ₩ 153,000,000 | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Description of nature of related party relationship | Associates | Associates | Associates | ||
Osung LST Co., Ltd. | |||||
Related party transactions [Abstract] | |||||
Interest income | ₩ 0 | ₩ 0 | ₩ 170,000,000 | ||
Interest expenses | 0 | 0 | 1,000,000 | ||
Impairment losses due to credit loss (reversal of allowance for credit loss) | ₩ 0 | ₩ 0 | ₩ (338,000,000) | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Description of nature of related party relationship | Associates | Associates | Associates | ||
Woori Columbus 1st Private Equity Fund | |||||
Related party transactions [Abstract] | |||||
Fees income | ₩ 0 | ₩ 272,000,000 | ₩ 308,000,000 | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Description of nature of related party relationship | Associates | Associates | Associates | ||
Description of changes of ownership interest of related party | [9] | The entity is excluded from the list of associates due to its liquidation for the year ended December 31, 2017. | The entity is excluded from the list of associates due to its liquidation for the year ended December 31, 2017. | The entity is excluded from the list of associates due to its liquidation for the year ended December 31, 2017. | |
[1] | As its ownership interest in the Group is lower than 20% as of December 31, 2017, it has been excluded from the 'corporation that have significant influence over the Group' category. | ||||
[2] | The Group lost significant influence over the entity due to the termination of the joint management procedures of the creditors' financial institution during the year December 31, 2018, and thus the entity was excluded from the list of associates. | ||||
[3] | The Group lost significant influence over the entity due to the stock consolidation and the capital increase of the associate during the year ended December 31, 2018, and thus the entity was excluded from the list of associates. | ||||
[4] | The shares of the entity were sold after it was transferred to assets held for sale during the year ended December 31, 2018 and thus was excluded from the list of associates. | ||||
[5] | Due to capital contribution during the year ended December 31, 2016, the entity has been included in the investment in associates. | ||||
[6] | Due to capital contribution for the year ended December 31, 2017, the entity has been included in the list of associates. | ||||
[7] | Others include Saman Corporation, Kyesan Engineering Co., Ltd., DAEA SNC Co., Ltd., etc., as of December 31, 2017 and 2018. | ||||
[8] | Others include the amount transacted with Saman Corporation, Kyesan Engineering Co., Ltd., DAEA SNC Co., Ltd., etc., for the years ended December 31, 2017 and 2018, and Saman Corporation, Kyesan Engineering Co., Ltd., Gachi Staff Co., Ltd., QTS Shipping Co., Ltd., and others were included as of December 31, 2016, respectively. | ||||
[9] | The entity is excluded from the list of associates due to its liquidation for the year ended December 31, 2017. | ||||
[10] | The shares of the entity were sold after it was transferred to assets held for sale during the year ended December 31, 2017 and thus was excluded from the list of associates. |
Related party transactions_Majo
Related party transactions_Major loan and borrowing transactions with related parties (Details) - KRW (₩) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | |||
Disclosure of major loan and borrowing transactions between related parties [Abstract] | ||||
Beginning balance of Major loan transations with Kumho Tire Co., Inc. | [2] | ₩ 57,470,000,000 | [1] | ₩ 50,413,000,000 |
Beginning balance of Major loan transations with Well to Sea No. 3 Private Equity Fund | [3] | 73,810,000,000 | [1] | 0 |
Beginning balance of Major loan transations with STX Engine Co., Ltd. | [4] | 39,886,000,000 | [1] | 44,797,000,000 |
Beginning balance of major borrowing transactions | 0 | |||
Increase (decrease) of major loan transactions with related parties through other changes | ||||
Loan to Kumho Tire Co., Inc. | [2] | 0 | 7,057,000,000 | |
Loan to Well to Sea No. 3 Private Equity Fund | [3] | 16,857,000,000 | 83,810,000,000 | |
Loan to STX Engine Co., Ltd. | [4] | 0 | 2,177,000,000 | |
Collection from Kumho Tire Co., Inc. | [2] | 7,057,000,000 | 0 | |
Collection from Well to Sea No. 3 Private Equity Fund | [3] | 88,810,000,000 | 10,000,000,000 | |
Collection from STX Engine Co., Ltd. | [4] | 2,177,000,000 | 7,088,000,000 | |
Others for Kumho Tire Co., Inc. | [2] | (50,413,000,000) | 0 | |
Others for STX Engine Co Ltd | [4] | (37,709,000,000) | 0 | |
Ending balance of Major loan transations with Kumho Tire Co., Inc. | [1],[2] | 0 | 57,470,000,000 | |
Ending balance of Major loan transations with Well to Sea No. 3 Private Equity Fund | [1],[3] | 1,857,000,000 | 73,810,000,000 | |
Ending balance of Major loan transations with STX Engine Co., Ltd. | [1],[4] | 0 | 39,886,000,000 | |
Ending balance of major borrowing transactions | ₩ 0 | ₩ 0 | ||
[1] | Settlement payment from normal operation among the related parties were excluded, and in the case of a limited loan, it was presented as a net increase or decrease. | |||
[2] | The Group lost significant influence over the entity due to the termination of the joint management procedures of the creditors' financial institution during the year ended December 31, 2018, and thus the entity was excluded from the list of associates. | |||
[3] | Due to capital contribution, the entity was included in the list of associates during the year ended December 31, 2017. | |||
[4] | The shares of the entity were sold after it was transferred to assets held for sale during the year ended December 31, 2018 and thus was excluded from the list of associates. |
Related party transactions_Comp
Related party transactions_Compensation for key management (Details) - KRW (₩) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of amounts incurred by entity for provision of key management personnel services provided by separate management entities [Abstract] | |||
Short-term employee salaries | ₩ 12,326,000,000 | ₩ 12,024,000,000 | ₩ 9,523,000,000 |
Retirement benefit service costs | 489,000,000 | 472,000,000 | 424,000,000 |
Total | 12,815,000,000 | ₩ 12,496,000,000 | ₩ 9,947,000,000 |
Outstanding receivables from transaction with key management | 2,816,000,000 | ||
Outstanding payables from transaction with key management | 6,096,000,000 | ||
Loss allowance related to outstanding balances of transactions with key mangement personnel | 0 | ||
Impairment loss (reversal of impairment loss) due to credit loss related to outstanding balances of transactions with key management personnel | ₩ 0 |
Business combination_Details of
Business combination_Details of Business combination (Details) | 12 Months Ended | |
Dec. 31, 2018KRW (₩) | ||
Details of the accounting for the business combination are as follows (Unit: Korean Won in millions) | ||
Consideration transferred: | ||
Cash and Cash equivalents | ₩ 151,624,000,000 | |
Identifiable assets and liabilities recognized | ||
Cash and Cash equivalents | 16,657,000,000 | |
Financial assets at FVTOCI | 17,000,000 | |
Loans and other financial assets at amortized cost | 269,513,000,000 | |
Premises and equipment | 1,630,000,000 | |
Intangible assets | 763,000,000 | |
Current tax assets | 173,000,000 | |
Deferred tax assets | 1,381,000,000 | |
Other assets | 1,510,000,000 | |
Asset total | 291,644,000,000 | |
Deposits due to customers | 54,615,000,000 | |
Borrowings | 120,644,000,000 | |
Other financial liabilities | 6,149,000,000 | |
Current tax liabilities | 640,000,000 | |
Other liabilities | 4,724,000,000 | |
Liabilities total | 186,772,000,000 | |
Identifiable net fair value | 104,872,000,000 | |
Goodwill | ₩ 46,752,000,000 | |
WB Finance Co., Ltd. | ||
Disclosure of detailed information about business combination [Line Items] | ||
Name of acquiree | Vision Fund Cambodia | |
Description of acquiree | Cambodia's retail business | |
Date of acquisition | Jun. 21, 2018 | |
Percentage of voting equity interests acquired | 100.00% | |
Explanation of effect of changes in composition of entity during interim period | To expand Cambodia's retail business, the Group had acquired 100% ownership of Vision Fund Cambodia in June, 2018 and the Group changed its name to WB Finance Co., Ltd. | |
Description of primary reasons for business combination | To expand Cambodia's retail business | |
Description of how acquirer obtained control of acquiree | the Group had acquired 100% ownership | |
Description of factors that make up goodwill recognised | The goodwill amounting to 46,752 million Won arising from the acquisition is based on the economic effect of combining the operation of the Group and its subsidiaries, and also from the customer base acquired. | |
Description Of Operating Income and Net Income Of The Group | Assuming that the acquisition date is the date of the beginning of reporting period, the amounts to be added to the operating income and net income in the Group's statement of comprehensive income for the year ended December 31, 2018 are as follows: (Unit: Korean Won in millions): | |
Operating Income | ₩ 44,545,000,000 | |
Net Income | 4,511,000,000 | |
Consideration transferred: | ||
Cash and Cash equivalents | 87,562,000,000 | |
Identifiable assets and liabilities recognized | ||
Cash and Cash equivalents | 16,657,000,000 | |
Financial assets at FVTOCI | 17,000,000 | |
Loans and other financial assets at amortized cost | 205,451,000,000 | [1] |
Premises and equipment | 1,630,000,000 | |
Intangible assets | 763,000,000 | |
Current tax assets | 173,000,000 | |
Deferred tax assets | 1,381,000,000 | |
Other assets | 1,510,000,000 | |
Asset total | 227,582,000,000 | |
Deposits due to customers | 54,615,000,000 | |
Borrowings | 120,644,000,000 | |
Other financial liabilities | 6,149,000,000 | |
Current tax liabilities | 640,000,000 | |
Other liabilities | 4,724,000,000 | |
Liabilities total | 186,772,000,000 | |
Identifiable net fair value | 40,810,000,000 | |
Goodwill | ₩ 46,752,000,000 | |
Disclosure Of Loans And Other Financial Assets At Amortised Cost Recognised As Of Acquisition Date | The book value of loans and other financial assets at amortized cost is used as proxy for fair value since the difference between fair value and book value is not material. The total contractual amount of WB Finance is 208,633 million Won and the contractual cash flow that is not expected to be recovered is 3,182 million Won. | [1] |
The Total Contractual Amount | ₩ 208,633,000,000 | [1] |
The Contractual Cash Flow That Is Not Expected To Be Recovered | ₩ 3,182,000,000 | |
Woori Bank Europe | ||
Disclosure of detailed information about business combination [Line Items] | ||
Name of acquiree | Deutsche Bundesbank | |
Description of acquiree | Central bank of Germany | |
Date of acquisition | Nov. 1, 2018 | |
Explanation of effect of changes in composition of entity during interim period | The Group acquired approval from the Deutsche Bundesbank (Central bank of Germany) for the establishment of Woori Bank Europe (Capital amounting to 50 million Euros) on October 9, 2018. Woori Bank Europe started its operations on November 1, 2018 | |
Description of primary reasons for business combination | The Group acquired approval from the Deutsche Bundesbank (Central bank of Germany) for the establishment of Woori Bank Europe (Capital amounting to 50 million Euros) on October 9, 2018. Woori Bank Europe started its operations on November 1, 2018 | |
Consideration transferred: | ||
Cash and Cash equivalents | ₩ 64,062,000,000 | |
Identifiable assets and liabilities recognized | ||
Cash and Cash equivalents | 0 | |
Financial assets at FVTOCI | 0 | |
Loans and other financial assets at amortized cost | 64,062,000,000 | |
Premises and equipment | 0 | |
Intangible assets | 0 | |
Current tax assets | 0 | |
Deferred tax assets | 0 | |
Other assets | 0 | |
Asset total | 64,062,000,000 | |
Deposits due to customers | 0 | |
Borrowings | 0 | |
Other financial liabilities | 0 | |
Current tax liabilities | 0 | |
Other liabilities | 0 | |
Liabilities total | 0 | |
Identifiable net fair value | 64,062,000,000 | |
Goodwill | ₩ 0 | |
[1] | The book value of loans and other financial assets at amortized cost is used as proxy for fair value since the difference between fair value and book value is not material. The total contractual amount of WB Finance is 208,633 million Won and the contractual cash flow that is not expected to be recovered is 3,182 million Won. |
Establishment of a financial ho
Establishment of a financial hoding company and plan of stock transfer_Description of establishment of a financial hoding company and plan of stock transfer (Details) | 12 Months Ended |
Dec. 31, 2018 | |
Schedule of investments [Abstract] | |
Description of subsidiaries of holding company | After the end of the reporting period, the financial holding company was established on January 11, 2019. In accordance with the establishment of financial holding company, six companies including the Bank, Woori FIS Co., Ltd., Woori Finance Research Institute Co., Ltd., Woori Credit Information Co., Ltd., Woori Fund Service Co., Ltd. and Woori Private Equity Asset Management Co., Ltd. became fully owned subsidiaries of the said financial holding company. In connection with the Stock Transfer, the Bank's common stock was suspended from trading from January 9, 2019 and was de-listed from the Korea Stock Exchange on February 13, 2019. Following the Stock Transfer, the financial holding company's common stock was newly listed on the Korea Stock Exchange on February 13, 2019, and its ADSs (American Depositary Shares) succeeded to the listing of the Bank's ADSs on the New York Stock Exchange and commenced "when issued' trading on January 11, 2019. The financial holding company's ADSs commenced "regular way" trading on February 13, 2019, after the issuance of its common stock on the same day. |
Description of listing on stock exchange market due to establishment of holding company | After the financial holding company is established, the shares of the Bank will be delisted from the Korea Stock Exchange and New York Stock Exchange on January 11, 2019, and the shares of the newly established financial holding company were listed on February 13, 2019, both Korea Stock Exchange and New York Stock Exchange. |