Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2021shares | |
Document Information [Line Items] | |
Entity Registrant Name | Woori Financial Group Inc. |
Entity Central Index Key | 0001264136 |
Document Type | 20-F |
Document Registration Statement | false |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Document Period End Date | Dec. 31, 2021 |
Amendment Flag | false |
Document Fiscal Year Focus | 2021 |
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 | 728,058,225 |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Entity Interactive Data Current | Yes |
Entity Address, Country | KR |
Entity File Number | 001-31811 |
Entity Incorporation, State or Country Code | M5 |
Entity Address, Address Line One | 51, Sogong-ro, Jung-gu |
Entity Address, City or Town | Seoul |
Entity Address, Postal Zip Code | 04632 |
ICFR Auditor Attestation Flag | true |
Document Accounting Standard | International Financial Reporting Standards |
Auditor Name | Samil PricewaterhouseCoopers |
Auditor Firm ID | 1103 |
Auditor Location | Seoul, Korea |
American Depositary Shares [Member] | |
Document Information [Line Items] | |
Title of 12(b) Security | American Depositary Shares |
Trading Symbol | WF |
Security Exchange Name | NYSE |
Common Stock [Member] | |
Document Information [Line Items] | |
Title of 12(b) Security | Common Stock |
Trading Symbol | WF |
Security Exchange Name | NYSE |
Business Contact [Member] | |
Document Information [Line Items] | |
Entity Address, Country | KR |
Contact Personnel Name | Jeong Soo Lee |
Entity Address, Address Line One | 51, Sogong-ro, Jung-gu |
Entity Address, City or Town | Seoul |
Entity Address, Postal Zip Code | 04632 |
City Area Code | +82-2 |
Local Phone Number | 2125-2050 |
Contact Personnel Fax Number | +82-0505001-0451 |
Consolidated Statements Of Fina
Consolidated Statements Of Financial Position $ in Thousands, ₩ in Millions | Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | ||
ASSETS [Abstract] | |||||
Cash and cash equivalents | ₩ 7,565,818 | $ 6,365,319 | ₩ 9,990,983 | ||
Financial assets at fair value through profit or loss ("FVTPL") | 13,497,234 | 11,355,573 | 14,762,941 | ||
Financial assets at fair value through other comprehensive income("FVTOCI") | 39,119,789 | 32,912,493 | 30,028,929 | ||
Securities at amortized cost | 17,086,274 | 14,375,125 | 17,020,839 | ||
Loans and other financial assets at amortized cost | 361,932,872 | [1] | 304,503,510 | 320,106,078 | [1] |
Investments in joint ventures and associates | 1,335,167 | 1,123,311 | 993,291 | ||
Investment properties | 389,495 | 327,692 | 387,464 | ||
Premises and equipment | 3,174,720 | 2,670,974 | 3,287,198 | ||
Intangible assets | 785,386 | 660,766 | 792,077 | ||
Assets held for sale | 26,327 | 22,150 | 60,002 | ||
Net defined benefit asset | 21,346 | 17,959 | 5,658 | ||
Current tax assets | 22,598 | 19,012 | 75,655 | ||
Deferred tax assets | 31,131 | 26,191 | 46,088 | ||
Derivative assets (Designated for hedging) | 106,764 | 89,823 | 174,820 | ||
Other assets | 2,088,950 | 1,757,488 | 1,348,994 | ||
Total assets | 447,183,871 | 376,227,386 | 399,081,017 | ||
LIABILITIES [Abstract] | |||||
Financial liabilities at fair value through profit or loss ("FVTPL") | 4,873,458 | 4,100,167 | 6,813,822 | ||
Deposits due to customers | 317,899,871 | 267,457,405 | 291,477,279 | ||
Borrowings | 24,755,459 | 20,827,410 | 20,745,466 | ||
Debentures | 44,653,864 | 37,568,454 | 37,479,358 | ||
Provisions | 576,134 | 484,716 | 501,643 | ||
Net defined benefit liability | 47,986 | 40,372 | 52,237 | ||
Current tax liabilities | 584,491 | 491,747 | 370,718 | ||
Deferred tax liabilities | 169,842 | 142,892 | 160,250 | ||
Derivative liabilities (Designated for hedging) | 27,584 | 23,207 | 64,769 | ||
Other financial liabilities | 24,233,226 | 20,388,041 | 14,215,817 | ||
Other liabilities | 556,853 | 468,495 | 473,813 | ||
Total liabilities | 418,378,768 | 351,992,906 | 372,355,172 | ||
EQUITY [Abstract] | |||||
Owners' equity | 25,796,927 | 21,703,624 | 23,053,608 | ||
Capital stock | 3,640,303 | 3,062,681 | 3,611,338 | ||
Hybrid securities | 2,294,381 | 1,930,322 | 1,895,366 | ||
Capital surplus | 682,385 | 574,108 | 626,111 | ||
Other equity | (2,167,614) | (1,823,669) | (2,347,472) | ||
Retained earnings | 21,347,472 | [2],[3] | 17,960,182 | 19,268,265 | [2],[3] |
Non-controlling interests | 3,008,176 | [4] | 2,530,856 | 3,672,237 | [4] |
Total equity | 28,805,103 | 24,234,480 | 26,725,845 | ||
Total liabilities and equity | ₩ 447,183,871 | $ 376,227,386 | ₩ 399,081,017 | ||
[1] | Cash and cash equivalents are not included. | ||||
[2] | The earned surplus reserve in retained earnings amounted to 62,830 million Won and 122,370 million Won as of December 31, 2020 and 2021 in accordance with the Article 53 of the Financial Holding Company Act. | ||||
[3] | The regulatory reserve for credit losses in retained earnings amounted to 2,547,547 million Won and 2,568,367 million Won and as of December 31, 2020 and 2021, respectively in accordance with the relevant article. | ||||
[4] | The hybrid securities issued by Woori Bank amounting to 3,105,070 million Won and 2,555,166 million Won as of December 31, 2020 and 2021, respectively, are recognized as non-controlling interests. 162,362 million Won and 144,923 million Won of dividends for the hybrid securities issued by Woori Bank are allocated to net profit and loss of the non-controlling interests for the years ended December 31, 2020 and 2021, respectively. |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021KRW (₩)₩ / shares | Dec. 31, 2021USD ($)$ / shares | Dec. 31, 2020KRW (₩)₩ / shares | Dec. 31, 2019KRW (₩)₩ / shares | |
Statement of comprehensive income [abstract] | ||||
Interest income | ₩ 9,894,749 | $ 8,324,709 | ₩ 9,523,853 | ₩ 10,576,770 |
Financial assets at FVTPL | 45,803 | 38,535 | 48,612 | 50,619 |
Financial assets at FVTOCI | 381,814 | 321,230 | 437,527 | 474,751 |
Financial assets at amortized cost | 9,467,132 | 7,964,944 | 9,037,714 | 10,051,400 |
Interest expense | (2,909,028) | (2,447,441) | (3,525,341) | (4,683,064) |
Net interest income (Notes 11, 30 and 41) | 6,985,721 | 5,877,268 | 5,998,512 | 5,893,706 |
Fee and commission income | 2,171,705 | 1,827,112 | 1,694,016 | 1,709,326 |
Fees and commissions expense | (700,930) | (589,711) | (679,977) | (606,698) |
Net fees and commissions income (Notes 11, 31 and 41) | 1,470,775 | 1,237,401 | 1,014,039 | 1,102,628 |
Dividend income (Notes 11, 32 and 41) | 309,211 | 260,147 | 138,543 | 107,959 |
Net gain on financial instruments at FVTPL (Notes 11, 33 and 41) | 325,751 | 274,063 | 421,709 | 25,455 |
Net gain on financial assets at FVTOCI (Notes 11 and 34) | 32,624 | 27,447 | 24,138 | 11,015 |
Net gain arising on financial assets at amortized cost (Note 11) | 107,317 | 90,289 | 44,443 | 102,115 |
Impairment losses due to credit loss (Notes 35 and 41) | (536,838) | (451,656) | (784,371) | (374,244) |
General and administrative expenses (Notes 36 and 41) | (4,147,411) | (3,489,324) | (3,956,181) | (3,766,077) |
Other net operating expense (Notes 11, 26, 36 and 41) | (887,401) | (746,593) | (820,438) | (302,581) |
Operating income | 3,659,749 | 3,079,042 | 2,080,394 | 2,799,976 |
Share of gain of joint ventures and associates (Note 13) | 62,196 | 52,327 | 101,077 | 83,997 |
Other non-operating income (expense) | (34,900) | (29,362) | (180,220) | (160,924) |
Non-operating income (expense) | 27,296 | 22,965 | (79,143) | (76,927) |
Non-operating income (expense) (Note 37) | 3,687,045 | 3,102,007 | 2,001,251 | 2,723,049 |
Income tax expense (Note 38) | (924,766) | (778,030) | (486,002) | (685,453) |
Net income | 2,762,279 | 2,323,977 | 1,515,249 | 2,037,596 |
Other comprehensive income [abstract] | ||||
Net gain (loss) on valuation of equity securities at FVTOCI | 34,069 | 28,663 | 47,246 | (58,129) |
Changes in capital due to equity method | (2,607) | (2,193) | (2,065) | 0 |
Remeasurement gain (loss) related to defined benefit plan | 65,067 | 54,743 | 9,783 | (34,648) |
Items that will not be reclassified to profit or loss | 96,529 | 81,213 | 54,964 | (92,777) |
Net gain (loss) on valuation of debt securities at FVTOCI | (184,396) | (155,137) | 12,114 | 43,988 |
Changes in capital due to equity method | 4,133 | 3,477 | (233) | 613 |
Net gain (loss) on foreign currency translation of foreign operations | 246,808 | 207,646 | (153,472) | 101,781 |
Net gain (loss) on valuation of cash flow hedge | 7,107 | 5,979 | 4,420 | (1,823) |
Items that may be reclassified to profit or loss | 73,652 | 61,965 | (137,171) | 144,559 |
Other comprehensive income(loss), net of tax | 170,181 | 143,178 | (82,207) | 51,782 |
Total comprehensive income | 2,932,460 | 2,467,155 | 1,433,042 | 2,089,378 |
Net income attributable to: | ||||
Net income attributable to owners | 2,542,844 | 2,139,361 | 1,307,266 | 1,872,207 |
Net income attributable to non-controlling interests | 219,435 | 184,616 | 207,983 | 165,389 |
Total comprehensive income attributable to: | ||||
Comprehensive income attributable to owners | 2,700,672 | 2,272,145 | 1,233,097 | 1,914,393 |
Comprehensive income attributable to non-controlling interests | ₩ 231,788 | $ 195,010 | ₩ 199,945 | ₩ 174,985 |
Earnings per share | ||||
Basic and diluted earnings per share | (per share) | ₩ 3,419 | $ 2.876 | ₩ 1,742 | ₩ 2,727 |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Equity $ in Thousands, ₩ in Millions | KRW (₩) | USD ($) | Capital StockKRW (₩) | Capital StockUSD ($) | Hybrid securitiesKRW (₩) | Hybrid securitiesUSD ($) | Capital surplusKRW (₩) | Capital surplusUSD ($) | Other equityKRW (₩) | Other equityUSD ($) | Retained earningsKRW (₩) | Retained earningsUSD ($) | Owners' equity in totalKRW (₩) | Owners' equity in totalUSD ($) | Non-controlling interestsKRW (₩) | Non-controlling interestsUSD ($) |
Balance at beginning at Dec. 31, 2018 | ₩ 21,953,044 | ₩ 3,381,392 | ₩ 3,161,963 | ₩ 285,889 | ₩ (2,213,970) | ₩ 17,124,657 | ₩ 21,739,931 | ₩ 213,113 | ||||||||
Comprehensive income [abstract] | ||||||||||||||||
Net income | 2,037,596 | 0 | 0 | 0 | 0 | 1,872,207 | 1,872,207 | 165,389 | ||||||||
Net gain (loss) on valuation of financial instruments at FVTOCI | (14,141) | 0 | 0 | 0 | (14,101) | 0 | (14,101) | (40) | ||||||||
Net gain (loss) due to disposal of equity securities at FVTOCI | 0 | 0 | 0 | 0 | 29,368 | (29,368) | 0 | 0 | ||||||||
Changes in capital due to equity method | 1,766 | 0 | 0 | 1,153 | 613 | 0 | 1,766 | 0 | ||||||||
Net gain (loss) on foreign currency translation of foreign operations | 101,781 | 0 | 0 | 0 | 91,748 | 0 | 91,748 | 10,033 | ||||||||
Net gain (loss) on valuation of cash flow hedge | (1,823) | 0 | 0 | 0 | (1,823) | 0 | (1,823) | 0 | ||||||||
Remeasurement gain (loss) related to defined benefit plan | (34,648) | 0 | 0 | 0 | (34,251) | 0 | (34,251) | (397) | ||||||||
Trasnsactions with owners and others [abstract] | ||||||||||||||||
Dividends to common stocks | (439,640) | 0 | 0 | 0 | 0 | (437,626) | (437,626) | (2,014) | ||||||||
Issuance of hybrid securities | 1,656,014 | 0 | 997,544 | 0 | 0 | 0 | 997,544 | 658,470 | ||||||||
Dividends to hybrid securities | (138,783) | 0 | 0 | 0 | 0 | (4,362) | (4,362) | (134,421) | ||||||||
Redemption of hybrid securities | (159,895) | 0 | 0 | 0 | (277) | 0 | (277) | (159,618) | ||||||||
Changes in subsidiaries' capital | 388 | 0 | 0 | 438 | 0 | 0 | 438 | (50) | ||||||||
Acquisition of subsidiaries | 651,143 | 229,946 | 0 | 351,663 | 0 | 0 | 581,609 | 69,534 | ||||||||
New stocks issue cost | (12,848) | 0 | 0 | (12,848) | 0 | 0 | (12,848) | 0 | ||||||||
Net increase of treasury stocks | 4,245 | 0 | 0 | 0 | 4,245 | 0 | 4,245 | 0 | ||||||||
Exchange of non-controlling interests in hybrid securities | 0 | 0 | (3,161,963) | 0 | 0 | 0 | (3,161,963) | 3,161,963 | ||||||||
Appropriation of retained earnings | 0 | 0 | 0 | 0 | 368 | (368) | 0 | 0 | ||||||||
Other changes in consolidated capital | (111,867) | 0 | 0 | 0 | (111,242) | (625) | (111,867) | 0 | ||||||||
Balance at end at Dec. 31, 2019 | 25,492,332 | 3,611,338 | 997,544 | 626,295 | (2,249,322) | 18,524,515 | 21,510,370 | 3,981,962 | ||||||||
Comprehensive income [abstract] | ||||||||||||||||
Net income | 1,515,249 | 0 | 0 | 0 | 0 | 1,307,266 | 1,307,266 | 207,983 | ||||||||
Net gain (loss) on valuation of financial instruments at FVTOCI | 59,360 | 0 | 0 | 0 | 59,417 | 0 | 59,417 | (57) | ||||||||
Net gain (loss) due to disposal of equity securities at FVTOCI | 0 | 0 | 0 | 0 | 2,664 | (2,664) | 0 | 0 | ||||||||
Changes in capital due to equity method | (2,298) | 0 | 0 | 0 | (2,298) | 0 | (2,298) | 0 | ||||||||
Net gain (loss) on foreign currency translation of foreign operations | (153,472) | 0 | 0 | 0 | (145,376) | 0 | (145,376) | (8,096) | ||||||||
Net gain (loss) on valuation of cash flow hedge | 4,420 | 0 | 0 | 0 | 4,306 | 0 | 4,306 | 114 | ||||||||
Remeasurement gain (loss) related to defined benefit plan | 9,783 | 0 | 0 | 0 | 9,782 | 0 | 9,782 | 1 | ||||||||
Trasnsactions with owners and others [abstract] | ||||||||||||||||
Dividends to common stocks | (507,658) | 0 | 0 | 0 | 0 | (505,587) | (505,587) | (2,071) | ||||||||
Issuance of hybrid securities | 897,822 | 0 | 897,822 | 0 | 0 | 0 | 897,822 | 0 | ||||||||
Dividends to hybrid securities | (211,277) | 0 | 0 | 0 | 0 | (48,915) | (48,915) | (162,362) | ||||||||
Redemption of hybrid securities | (586,996) | 0 | 0 | 0 | (31,252) | 0 | (31,252) | (555,744) | ||||||||
Changes in subsidiaries' capital | 43,757 | 0 | 0 | (184) | 4,607 | (6,350) | (1,927) | 45,684 | ||||||||
Changes in non-controlling interests related to business combination | 164,823 | 0 | 0 | 0 | 0 | 0 | 0 | 164,823 | ||||||||
Balance at end at Dec. 31, 2020 | 26,725,845 | $ 22,485,146 | 3,611,338 | $ 3,038,312 | 1,895,366 | $ 1,594,621 | 626,111 | $ 526,763 | (2,347,472) | $ (1,974,989) | 19,268,265 | $ 16,210,891 | 23,053,608 | $ 19,395,598 | 3,672,237 | $ 3,089,548 |
Comprehensive income [abstract] | ||||||||||||||||
Net income | 2,762,279 | 2,323,977 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,542,844 | 2,139,361 | 2,542,844 | 2,139,361 | 219,435 | 184,616 |
Net gain (loss) on valuation of financial instruments at FVTOCI | (150,327) | (126,474) | 0 | 0 | 0 | 0 | 0 | 0 | (150,470) | (126,594) | 0 | 0 | (150,470) | (126,594) | 143 | 120 |
Net gain (loss) due to disposal of equity securities at FVTOCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (2,220) | (1,868) | 2,220 | 1,868 | 0 | 0 | 0 | 0 |
Changes in capital due to equity method | 1,526 | 1,284 | 0 | 0 | 0 | 0 | 0 | 0 | 2,472 | 2,080 | (946) | (796) | 1,526 | 1,284 | 0 | 0 |
Net gain (loss) on foreign currency translation of foreign operations | 246,808 | 207,646 | 0 | 0 | 0 | 0 | 0 | 0 | 234,583 | 197,361 | 0 | 0 | 234,583 | 197,361 | 12,225 | 10,285 |
Net gain (loss) on valuation of cash flow hedge | 7,107 | 5,979 | 0 | 0 | 0 | 0 | 0 | 0 | 6,938 | 5,837 | 0 | 0 | 6,938 | 5,837 | 169 | 142 |
Capital related to non-current assets held for sale | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (947) | (797) | 947 | 797 | 0 | 0 | 0 | 0 |
Remeasurement gain (loss) related to defined benefit plan | 65,067 | 54,743 | 0 | 0 | 0 | 0 | 0 | 0 | 65,251 | 54,897 | 0 | 0 | 65,251 | 54,897 | (184) | (154) |
Trasnsactions with owners and others [abstract] | ||||||||||||||||
Comprehensive stock exchange | 64,162 | 53,981 | 28,965 | 24,369 | 0 | 0 | 35,197 | 29,612 | 0 | 0 | 0 | 0 | 64,162 | 53,981 | 0 | 0 |
Dividends to common stocks | (377,748) | (317,809) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (368,357) | (309,908) | (368,357) | (309,908) | (9,391) | (7,901) |
Acquisition of treasury stocks | (3,819) | (3,213) | 0 | 0 | 0 | 0 | 0 | 0 | (3,819) | (3,213) | 0 | 0 | (3,819) | (3,213) | 0 | 0 |
Issuance of hybrid securities | 399,015 | 335,701 | 0 | 0 | 399,015 | 335,701 | 0 | 0 | 0 | 0 | 0 | 0 | 399,015 | 335,701 | 0 | 0 |
Dividends to hybrid securities | (211,173) | (177,665) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (66,250) | (55,738) | (66,250) | (55,738) | (144,923) | (121,927) |
Redemption of hybrid securities | (577,269) | (485,671) | 0 | 0 | 0 | 0 | 0 | 0 | (27,365) | (23,023) | 0 | 0 | (27,365) | (23,023) | (549,904) | (462,648) |
Changes in subsidiaries' capital | (720) | (606) | 0 | 0 | 0 | 0 | 9,382 | 7,893 | 32,445 | 27,298 | (31,251) | (26,293) | 10,576 | 8,898 | (11,296) | (9,504) |
Other changes in consolidated capital | (145,650) | (122,539) | 0 | 0 | 0 | 0 | 11,695 | 9,840 | 22,990 | 19,342 | 0 | 0 | 34,685 | 29,182 | (180,335) | (151,721) |
Balance at end at Dec. 31, 2021 | ₩ 28,805,103 | $ 24,234,480 | ₩ 3,640,303 | $ 3,062,681 | ₩ 2,294,381 | $ 1,930,322 | ₩ 682,385 | $ 574,108 | ₩ (2,167,614) | $ (1,823,669) | ₩ 21,347,472 | $ 17,960,182 | ₩ 25,796,927 | $ 21,703,624 | ₩ 3,008,176 | $ 2,530,856 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | Dec. 31, 2019KRW (₩) | |
Cash flows from operating activities | ||||
Net income | ₩ 2,762,279 | $ 2,323,977 | ₩ 1,515,249 | ₩ 2,037,596 |
Adjustments to net income | ||||
Income tax expense | 924,766 | 778,030 | 486,002 | 685,453 |
Interest income | (9,894,749) | (8,324,709) | (9,523,853) | (10,576,770) |
Interest expense | 2,909,028 | 2,447,441 | 3,525,341 | 4,683,064 |
Dividend income | (309,211) | (260,147) | (138,543) | (107,959) |
Adjustments to net income (sub-total) | (6,370,166) | (5,359,385) | (5,651,053) | (5,316,212) |
Additions of expenses not involving cash outflows: | ||||
Loss on valuation of financial instruments at FVTPL | 16,869 | 14,192 | 44,863 | 0 |
Loss on financial assets at FVTOCI | 15,812 | 13,303 | 787 | 1,375 |
Impairment losses due to credit loss | 536,838 | 451,656 | 784,371 | 374,244 |
Loss on other provisions | 85,690 | 72,093 | 232,680 | 129,682 |
Retirement benefit | 177,303 | 149,170 | 174,628 | 165,125 |
Depreciation and amortization | 791,896 | 666,243 | 535,548 | 505,718 |
Net loss on foreign currency translation | 109,668 | 92,266 | 191,504 | 0 |
Loss on derivatives (designated for hedge) | 93,084 | 78,314 | 82,746 | 3,686 |
Loss on fair value hedge | 1,947 | 1,638 | 68,508 | 86,214 |
Loss on valuation of investments in joint ventures and associates | 19,816 | 16,672 | 24,525 | 19,778 |
Loss on disposal of investments in joint ventures and associates | 174 | 146 | 0 | 0 |
Loss on disposal of premises and equipment, intangible assets and other assets | 3,354 | 2,822 | 2,717 | 3,433 |
Impairment loss on premises and equipment, intangible assets and other assets | 656 | 552 | 8,763 | 28,295 |
Additions of expenses not involving cash outflows (sub-total) | 1,853,107 | 1,559,067 | 2,151,640 | 1,317,550 |
Deductions of income not involving cash inflows: | ||||
Gain on valuation of financial instruments at FVTPL | 0 | 0 | 0 | (246,175) |
Gain on financial assets at FVTOCI | (48,436) | (40,750) | (24,925) | (12,390) |
Gain on other provisions | (1,591) | (1,339) | (2,450) | (3,302) |
Gain on derivatives (designated for hedge) | (61,271) | (51,549) | (67,395) | (126,651) |
Gain on fair value hedge | (106,253) | (89,393) | (9,646) | (231) |
Gain on valuation of investments in joint ventures and associates | (82,012) | (68,999) | (125,602) | (103,775) |
Gain on disposal of investments in joint ventures and associates | (70,834) | (59,594) | (3,470) | 0 |
Gain on disposal of premises and equipment, intangible assets and other assets | (51,083) | (42,977) | (9,715) | (1,632) |
Reversal of impairment loss on premises and equipment, intangible assets and other assets | (166) | (140) | (172) | (103) |
Profit from bargain purchase | 0 | 0 | (67,427) | 0 |
Other income | (35,717) | (30,050) | (20,600) | 0 |
Deductions of income not involving cash inflows (sub-total) | (457,363) | (384,791) | (331,402) | (494,259) |
Changes in operating assets and liabilities: | ||||
Financial instruments at FVTPL | 42,498 | 35,755 | (875,076) | (506,772) |
Loans and other financial assets at amortized cost | (38,020,109) | (31,987,304) | (22,763,192) | (11,265,714) |
Other assets | (983,680) | (827,595) | (89,918) | 86,237 |
Deposits due to customers | 23,830,469 | 20,049,191 | 27,378,173 | 15,407,222 |
Provisions | (12,278) | (10,330) | (184,112) | (63,751) |
Net defined benefit liability | (109,778) | (92,359) | (214,741) | (293,008) |
Other financial liabilities | 9,518,506 | 8,008,166 | (2,694,701) | (4,719,399) |
Other liabilities | 67,802 | 57,044 | (8,150) | 30,693 |
Changes in operating assets and liabilities (sub-total) | (5,666,570) | (4,767,432) | 548,283 | (1,324,492) |
Cash received (paid) from operating activities: | ||||
Interest income received | 9,351,055 | 7,867,285 | 9,558,119 | 10,478,357 |
Interest expense paid | (3,016,841) | (2,538,146) | (4,008,001) | (4,383,916) |
Dividends received | 309,071 | 260,029 | 138,562 | 107,940 |
Income tax paid | (565,539) | (475,803) | (315,422) | (552,215) |
Cash received from operating activities (sub-total) | 6,077,746 | 5,113,365 | 5,373,258 | 5,650,166 |
Net cash inflow (outflow) from operating activities | (1,800,967) | (1,515,199) | 3,605,975 | 1,870,349 |
Cash in-flows from investing activities [Abstract] | ||||
Disposal of financial instruments at FVTPL | 10,361,751 | 8,717,610 | 6,605,483 | 11,357,056 |
Disposal of financial assets at FVTOCI | 21,645,907 | 18,211,263 | 20,527,695 | 14,303,197 |
Redemption of securities at amortized cost | 6,425,062 | 5,405,571 | 5,661,472 | 8,709,947 |
Disposal of investments in joint ventures and associates | 195,758 | 164,696 | 410,940 | 30,098 |
Disposal of investment properties | 0 | 0 | 353 | 193 |
Disposal of premises and equipment | 2,890 | 2,431 | 22,828 | 13,343 |
Disposal of intangible assets | 846 | 712 | 634 | 939 |
Disposal of assets held for sale | 93,756 | 78,879 | 0 | 0 |
Net increase of other assets | 66,305 | 55,785 | 26,642 | 0 |
Cash in-flows from investing activities (sub-total) | 38,792,275 | 32,636,947 | 33,256,047 | 34,414,773 |
Cash out-flows from investing activities [Abstract] | ||||
Net cash out-flows of business combination | 0 | 0 | (313,058) | (296,813) |
Net cash out-flows from obtaining control | (1,638) | (1,378) | 0 | 0 |
Acquisition of financial instruments at FVTPL | (11,840,524) | (9,961,740) | (8,082,824) | (11,823,630) |
Acquisition of financial assets at FVTOCI | (30,522,971) | (25,679,767) | (23,044,741) | (23,775,062) |
Acquisition of securities at amortized cost | (6,435,692) | (5,414,515) | (2,380,448) | (6,092,078) |
Acquisition of investments in joint ventures and associates | (400,172) | (336,675) | (550,619) | (389,096) |
Acquisition of investment properties | 0 | 0 | (76,588) | (70,346) |
Acquisition of premises and equipment | (119,255) | (100,332) | (149,341) | (429,547) |
Acquisition of intangible assets | (138,882) | (116,845) | (114,854) | (126,342) |
Cash out-flows from investing activities (sub-total) | (49,459,134) | (41,611,252) | (34,712,473) | (43,002,914) |
Net cash outflow from investing activities | (10,666,859) | (8,974,305) | (1,456,426) | (8,588,141) |
Cash in-flows from financing activities [Abstract] | ||||
Net cash in-flows from hedging activities | 6,987 | 5,878 | 0 | 0 |
Net increase in borrowings | 3,199,712 | 2,692,002 | 2,033,851 | 3,081,757 |
Issuance of debentures | 32,674,966 | 27,490,296 | 23,082,798 | 25,510,713 |
Net increase of other liabilities | 3,489 | 2,935 | 3,971 | 0 |
Issuance of hybrid securities | 399,015 | 335,701 | 897,822 | 1,656,014 |
Retirement of treasury stocks | 0 | 0 | 0 | 760,101 |
Paid-in capital increase on non-controlling interests | 1,623 | 1,365 | 45,749 | 0 |
Net increase in non-controlling equity liabilities | 10,685 | 8,990 | 0 | 0 |
Cash in-flows from financing activities (sub-total) | 36,296,477 | 30,537,167 | 26,064,191 | 31,008,585 |
Cash out-flows from financing activities [Abstract] | ||||
Net cash out-flows from hedging activities | 0 | 0 | (5,409) | (5,520) |
Redemption of debentures | (25,781,305) | (21,690,480) | (22,168,962) | (23,651,950) |
Redemption of lease liabilities | (177,593) | (149,415) | (204,794) | (217,867) |
New stock issue cost | (140) | (118) | 0 | (17,337) |
Acquisition of treasury stocks | (3,757) | (3,161) | 0 | (184,164) |
Dividends paid | (368,357) | (309,908) | (505,587) | (437,626) |
Redemption of hybrid securities | (587,650) | (494,405) | (598,850) | (160,000) |
Dividends paid on hybrid securities | (211,173) | (177,665) | (211,277) | (161,052) |
Dividends paid to non-controlling interest | (9,391) | (7,901) | (2,071) | (2,014) |
Changes in non-controlling interests | (81,410) | (68,492) | 0 | (50) |
Cash out-flows from financing activities (sub-total) | (27,220,776) | (22,901,545) | (23,696,950) | (24,837,580) |
Net cash inflow from financing activities | 9,075,701 | 7,635,622 | 2,367,241 | 6,171,005 |
Net increase (decrease) in cash and cash equivalents | (3,392,125) | (2,853,882) | 4,516,790 | (546,787) |
Cash and cash equivalents, beginning of the period | 9,990,983 | 8,405,673 | 6,392,566 | 6,747,894 |
Effects of exchange rate changes on cash and cash equivalents | 966,960 | 813,528 | (918,373) | 191,459 |
Cash and cash equivalents, end of the period | ₩ 7,565,818 | $ 6,365,319 | ₩ 9,990,983 | ₩ 6,392,566 |
General
General | 12 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
General | 1. GENERAL (1) Summary of the Parent company Woori Financial Group, Inc. (hereinafter referred to the “Parent company”) is primarily aimed at controlling subsidiaries Sogong-ro, Jung-gu, The details of stock transfer between the Parent company and subsidiaries as of incorporation are as follows (Unit: Number of shares) Stock transfer company Total number of Exchange ratio per share Number of Parent Woori Bank 676,000,000 1.000000 676,000,000 Woori FIS Co., Ltd. 4,900,000 0.299970 1,469,857 Woori Finance Research Institute Co., Ltd. 600,000 0.188816 113,289 Woori Credit Information Co., Ltd. 1,008,000 1.103729 1,112,559 Woori Fund Service Co., Ltd. 2,000,000 0.470903 941,806 Woori Private Equity Asset Management Co., Ltd. 6,000,000 0.087799 526,795 As of August 1, 2019, the Parent company acquired a 73% interest in Tongyang Asset Management Co., Ltd. and changed the name to Woori Asset Management Corp. Also, as of August 1, 2019, the Parent company gained 100% control of ABL Global Asset Management Co., Ltd., added it as a consolidated subsidiary and changed the name to Woori Global Asset Management Co., Ltd. on December 6, 2019. The Parent company paid 598,391 million Won in cash and 42,103,377 new shares of the Parent company to acquire 100% interest of Woori Card Co., Ltd. from its subsidiary, Woori Bank, on September 10, 2019. On the same date, the Parent company also acquired 59.8% interest of Woori Investment Bank Co., Ltd. from Woori Bank with 392,795 million Won in cash. As of December 30, 2019, the Parent company acquired a 67.2% interest (excluding treasury stocks, 51% interest including treasury stocks) in Woori Asset Trust Co., Ltd. (formerly Kukje Asset Trust Co., Ltd.) and added it as a consolidated subsidiary at the end of 2019. The Parent company acquired 76.8% (excluding treasury stocks, 74.0% interest including treasury stocks) interest in Woori Financial Capital Co., Ltd. (formerly Aju Capital Co., Ltd.) on December 10, 2020. In addition, as of April 15, 2021, the Parent company acquired 13.3% interests (excluding treasury stock, 12.9% when including treasury stock) in Woori Financial Capital Co., Ltd., and as of May 24, 2021, the Parent company additionally acquired treasury stock (3.6%) which Woori Financial Capital Co., Ltd. possessed. The Parent Company paid 113,238 million Won in cash to acquire 100% interest of Woori Savings Bank from its subsidiary, Woori Financial Capital Co., Ltd., on March 12, 2021. (2) Details of the Parent company and subsidiaries (hereinafter ‘Group’) as of December 31, 2020 and 2021 are as follows: Main business Percentage of ownership (%) Location Financial Subsidiaries December 31, December 31, Held by Woori Financial Group Inc. Woori Bank Bank 100.0 100.0 Korea Decembe Woori Card Co., Ltd. Finance 100.0 100.0 Korea Decembe Woori Financial Capital Co., Ltd. Finance 76.8 100.0 Korea Decembe Woori Investment Bank Co., Ltd. Other credit finance business 58.7 58.7 Korea Decembe Woori Asset Trust Co., Ltd. Real estate trust 67.2 67.2 Korea Decembe Woori Asset Management Corp. Finance 73.0 73.0 Korea Decembe Woori Savings Bank (*7) Mutual Savings bank — 100.0 Korea Decembe Woori Credit Information Co., Ltd. Credit information 100.0 100.0 Korea Decembe Woori Fund Service Co., Ltd. Financial support service business 100.0 100.0 Korea Decembe Woori Private Equity Asset Management Co., Ltd. Finance 100.0 100.0 Korea Decembe Woori Global Asset Management Co., Ltd. Finance 100.0 100.0 Korea Decembe Woori FIS Co., Ltd. System software 100.0 100.0 Korea Decembe Woori Finance Research Institute Co., Ltd. Other service business 100.0 100.0 Korea Decembe Held by Woori Bank Woori America Bank Finance 100.0 100.0 America Decembe Woori Global Markets Asia Limited Finance 100.0 100.0 Hong Kong Decembe Woori Bank China Limited Finance 100.0 100.0 China Decembe AO Woori Bank Finance 100.0 100.0 Russia Decembe PT Bank Woori Saudara Indonesia 1906 Tbk Finance 79.9 84.2 Indonesia Decembe Banco Woori Bank do Brasil S.A. Finance 100.0 100.0 Brazil Decembe Korea BTL Infrastructure Fund Finance 99.9 99.9 Korea Decemb Woori Finance Myanmar Co., Ltd. Finance 100.0 100.0 Myanmar Decembe Wealth Development Bank Finance 51.0 51.0 Philippines Decembe Woori Bank Vietnam Limited Finance 100.0 100.0 Vietnam Decembe Woori Bank (Cambodia) PLC (*1)(*9) Finance 100.0 100.0 Cambodia Decembe Woori Bank Europe Finance 100.0 100.0 Germany Decembe Kumho Trust First Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Asiana Saigon Inc. (*2) Asset securitization 0.0 0.0 Korea Decembe KAMCO Value Recreation First (*2) Asset securitization 15.0 15.0 Korea December Hermes STX Co., Ltd. (*5) Asset securitization 0.0 — Korea — BWL First Co., LLC (*5) Asset securitization 0.0 — Korea — Deogi Dream Fourth Co., (*2) Asset securitization 0.0 0.0 Korea December Jeonju Iwon Ltd. (* 2 Asset securitization 0.0 0.0 Korea Decembe Wonju I one Inc. (*2) Asset securitization 0.0 0.0 Korea Decemb Heitz Third Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woorihansoop 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woori International First Co., (*2) Asset securitization 0.0 0.0 Korea Decembe Wibihansoop 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori QS 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori Display 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Tiger Eyes 2nd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Main business Percentage of ownership (%) Location Financial Subsidiaries December 31, December 31, Woori Display 2nd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woori the Colony Unjung Securitization Specialty Co., Ltd. (*5) Asset securitization 0.0 — Korea — Woori Dream 1st Co., Ltd. (*5) Asset securitization 0.0 — Korea — Woori Dream 2nd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woori H 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woori Sinnonhyeon 1st Inc. (*5) Asset securitization 0.0 — Korea — Woori K 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woori S 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woori Display 3rd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe TY 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woori HJ 2nd Co., Ltd. (*5) Asset securitization 0.0 — Korea — Woori-HJ Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woori K 2nd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woori KC No.1 Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woori QSell 2nd Co., Ltd. (*5) Asset securitization 0.0 — Korea — Quantum Jump the 2nd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Quantum Jump the 1st Co., (*2) Asset securitization 0.0 0.0 Korea Decemb Woori BK the 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decemb Woori-HC (*2) Asset securitization 0.0 0.0 Korea Decemb Wivi Synergy 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decemb ATLANTIC TRANSPORTATION (*2) Asset securitization 0.0 0.0 Marshall Decemb Woori Gongdeok First Co (*2) Asset securitization 0.0 0.0 Korea Decemb HD Project Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decemb Woori HW 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decemb Woori HC 2nd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decemb Woori Dream 3rd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decemb Woori SJS 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decemb Woori Steel st (*2) Asset securitization 0.0 0.0 Korea Decemb SPG the 1 st (*2) Asset securitization 0.0 0.0 Korea Decembe Woori-HWC (*2) Asset securitization 0.0 0.0 Korea Decemb Woori HC 3rd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woori Park I 1st co., Ltd (*2) Asset securitization 0.0 0.0 Korea Decemb Woori DS 1 st (*2) Asset securitization 0.0 0.0 Korea Decemb Woori HC 4th Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woori SKR 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woori Hchemical 1st Co (*2) Asset securitization — 0.0 Korea Decemb HE the 1st Co.,Ltd. (*2) Asset securitization — 0.0 Korea Decembe Woori Hub The 1st Co., Ltd. (*2) Asset securitization — 0.0 Korea Decembe Woori K The 3rd Co., Ltd. (*2) Asset securitization — 0.0 Korea Decembe Woori KF 1st Co., Ltd. (*2) Asset securitization — 0.0 Korea Decembe WooriI TS 1st Co., Ltd. (*2) Asset securitization — 0.0 Korea Decemb Woori H Square 1st Co., Ltd. (*2) Asset securitization — 0.0 Korea Decemb Woori L Yongsan 1st Co (*2) Asset securitization — 0.0 Korea Decemb Woori HC 5th Co., Ltd. (*2) Asset securitization — 0.0 Korea Decemb Woori Ladena 1st Co., Ltd. (*2) Asset securitization — 0.0 Korea Decemb Woori HR 1st Co., Ltd. (*2) Asset securitization 0.0 — Korea Decembe Woori Lotte Dongtan 1st Co., Ltd. (*2) Asset securitization 0.0 — Korea Decembe Woori HC 6th Co., Ltd. (*2) Asset securitization 0.0 — Korea Decembe Woori ECO 1st Co., Ltd. (*2) Asset securitization 0.0 — Korea December G5 Pro Short-term Bond Investment Fund 13 (*3) Securities investment and others 100.0 100.0 Korea Decembe Heungkuk Global Private Placement Investment Trust No. 1 (*3)(*11) Securities investment and others 98.5 98.8 Korea Decembe AI Partners UK Water Supply Private Placement (*3)(*11) Securities investment and others 97.3 97.3 England Decembe Multi Asset Global Real Estate Investment Trust No. 5-2 (*3) Securities investment and others 99.0 99.0 Korea Decemb Main business Percentage of ownership (%) Location Financial Subsidiaries December 31, December 31, Igis Australia Investment Trust No. 209-1 (*3)(*11) Securities investment and others 99.4 99.4 Korea Decemb INMARK Spain Private Placement Real Estate Investment Trust No. 26-2 (*3) Securities investment and others 97.7 97.7 Korea Decembe WooriG Japan General Type Private Real Estate Feeder Investment Trust No.1-2 (*3)(*11) Securities investment and others 98.8 98.8 Korea Decembe IGIS Global Private Placement Real Estate Fund No. 316-1 (*3) Securities investment and others 99.3 99.3 Korea Decembe Woori G Secondary Private Placement Investment Trust No. 1 (*3)(*11) Securities investment and others 97.2 98.1 Korea Decembe WooriG Japan Blind General Type Private Real Estate Feeder Investment Trust No.1 (*3)(*11) Securities investment and others — 99.8 Korea Decemb JBairline Private Placement Investment Trust No.8 (*3)(*11) Securities investment and others — 97.0 Korea Decembe Kiwoom Harmony Private Placement Investment Trust No. 2 (*3)(*11) Securities investment and others — 97.1 Korea Decembe Kiwoom Harmony Private Placement Investment Trust No.1 (*3)(*11) Securities investment and others — 96.0 Korea Decembe Principal Guaranteed Trust (*4) Trust 0.0 0.0 Korea Decemb Principal and Interest Guaranteed (*4) Trust 0.0 0.0 Korea Decemb Held by Multi Asset Global Real Estate Investment Trust No. 5-2 Asset securitization 54.6 54.6 Luxembourg Decembe Held by MAGI No.5 LuxCo S.a.r.l. (*2) Asset securitization 0.0 0.0 Belgium Decembe Held by Woori Card Co., Ltd. TUTU Finance –WCI Myanmar Co., Ltd. Finance 100.0 100.0 Myanmar Decemb Woori Card one of 2017-2 (*5) Asset securitization 0.5 — Korea — Woori Card one of 2018-1 (*2) Asset securitization 0.5 0.5 Korea Decemb Woori Card 2019-1 (*2) Asset securitization 0.5 0.5 Korea Decembe Woori Card 2020-1 (*2) Asset securitization 0.5 0.5 Korea Decembe Woori Card 2021-1 (*2) Asset securitization — 0.5 Korea Decembe Held by Woori Financial Capital Co., Ltd. Woori Savings Bank (*5) Mutual Savings bank 100.0 — Korea — ACE Auto Invest the 46th Securitization Specialty Co., Ltd. (*5) Asset securitization 1.0 — Korea — ACE Auto Invest the 47th Securitization Specialty Co., Ltd. (*5) Asset securitization 1.0 — Korea — ACE Auto Invest the 48th Securitization Specialty Co., Ltd. (*2) Asset securitization 1.0 1.0 Korea Decemb ACE Auto Invest the 49th Securitization Specialty Co., Ltd. (*2) Asset securitization 1.0 1.0 Korea Decembe Specified Money Market Trust (*5) Trust 100.0 — Korea — Held by Woori Investment Bank Co., Ltd. Seari First Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea Decembe Seari Second Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea Decembe Namjong 1st Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea Decembe Bukgeum First Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea Decembe Main business Percentage of ownership (%) Location Financial Subsidiaries December 31, December 31, Bukgeum Second Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea Decembe WS1909 Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea Decembe WS2003 Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea Decemb WS2006 Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea Decembe WJ2008 Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea Decembe WH2103 Securitization Specialty Co., Ltd. (*2) Asset securitization — 5.0 Korea Decembe WN2103 Securitization Specialty Co., Ltd. (*2) Asset securitization — 5.0 Korea Decembe WH2106 Securitization Specialty Co., Ltd. (*2) Asset securitization — 5.0 Korea Decembe One Punch Korea the 1st Co., Ltd. (*2). Asset securitization 0.0 0.0 Korea Decembe One Punch blue the 1 st (*2) Asset securitization 0.0 0.0 Korea Decembe One Punch red the 1 st (*2) Asset securitization — 0.0 Korea Decembe Held by Woori Asset Management Corp. Woori China Convertible Bond Hedging feeder Investment Trust H (debt-oriented hybrid) (*3) Securities investment and others 99.6 93.6 Korea Decembe Woori China Convertible Bond Master Fund (debt-oriented hybrid) (*5)(*8) Securities investment and others 34.5 — Korea — Woori Yellow Chip High Yield Strategic Allocation 1 (FOF) (*5) Securities investment and others 89.8 — Korea — Woori Together TDF 2025 (*3) Securities investment and others 47.6 34.1 Korea Decembe Woori Together TDF 2030 (*3) Securities investment and others 47.4 32.3 Korea Decembe Woori Together TDF 2035 (*3) Securities investment and others 47.8 56.0 Korea Decemb Woori Together TDF 2040 (*3) Securities investment and others 48.8 55.7 Korea Decembe Woori Together TDF 2045 (*3) Securities investment and others 47.7 65.2 Korea December Woori Together TDF 2050 (*3) Securities investment and others 87.0 63.6 Korea Decembe Woori Star50 Feeder Fund(H) (*3) Securities investment and others — 44.8 Korea Decembe Woori BIG2 Plus Securities Investment Trust (Balanced Bond) (*3) Securities investment and others — 40.8 Korea Decembe Held by Woori Financial Capital Co., Ltd., Woori Private Equity Asset Management Co., Ltd. and Woori Investment Bank Co., (*6) Japanese Hotel Real Estate Private Equity Fund 1 (*3)(*11) Securities investment and others 100.0 100.0 Korea Decemb Held by Woori Global Asset Management Co., Ltd. Woori G Global Multi Asset Income Private Placement Investment Trust_Class Cs (*3)(*11) Securities investment and others 22.2 37.9 Korea Decemb Held by Woori Bank, Woori Financial Capital Co., Ltd., Woori Investment Bank Co., Ltd., Woori Savings Bank and Woori Private Equity Asset Management Co., Ltd. (*6) Woori Innovative Growth Professional Investment Type Private Investment Trust No.1 (*3)(*11) Securities investment and others 90.0 90.0 Korea December Held by Woori Bank, Woori Financial Capital Co., Ltd., Woori Investment Bank Co., Ltd. and Woori Private Equity Asset Management Co., Ltd. (*6) Main business Percentage of ownership (%) Location Financial Subsidiaries December 31, December 31, Woori Innovative Growth Professional Investment Type Private Investment Trust No.2 (*3)(*11) Securities investment and others 85.0 85.0 Korea Decemb Woori Innovative Growth New Deal Private Investment Trust No.3 (*3) Securities investment and others — 94.3 Korea Decembe Held by Woori Bank, Woori Financial Capital Co., Ltd., and Woori Investment Bank Co., Ltd. (*6) WooriG GP Commitment Loan General Type Private Investment Trust No.1 (*3)(*11) Securities investment and others 50.0 100.0 Korea Decembe WooriG Equity Bridge Loan General Type Private Investment Trust No.1 (*3)(*11) Securities investment and others — 80.0 Korea Decembe Held by Woori bank and Woori Investment Bank Co., Ltd. (*6) Heungkuk Woori Tech Company Private Placement Investment Trust (*3)(*11) Securities investment and others 100.0 100.0 Korea Decemb Woori Global Development Infrastructure Synergy Company Private Placement Investment Trust No.1 (*3)(*11) Securities investment and others 100.0 100.0 Korea Decemb Woori G North America Infra Private Placement Investment Trust (*3)(*11) Securities investment and others 100.0 100.0 Korea Decemb Woori G Infrastructure New Deal Specialized Investment Private Equity Investment Trust No. 1 (*3)(*11) Securities investment and others 100.0 100.0 Korea Decembe WooriG General Type Private Real Estate Investment Trust (*3)(*11) Securities investment and others 30.1 30.1 Korea Decemb WooriG ESG Infrastructure Development General Type Private Investment Trust No.1 (*3)(*11) Securities investment and others — 100.0 Korea Decembe Held by Woori bank (*6) WooriG WooriBank Partners General Type Private Investment Trust No.1 (*3)(*11) Securities investment and others 92.6 92.6 Korea Decembe WooriG General Type Private Real Estate Investment Trust (*3)(*11) Securities investment and others 80.0 80.0 Korea Decemb WooriG Global Mid-market (*3)(*11) Securities investment and others 80.0 80.0 Korea Decemb Woori G Woori Bank Partners Professional Type Private Investment Trust No. 2 (*3)(*11) Securities investment and others — 90.9 Korea Decembe WooriG General Type Private Real Estate Investment Trust (*3)(*11) Securities investment and others — 87.0 Korea Decembe Held by Woori Financial Capital Co., Ltd. (*6) Woori G Japan Private Placement Real Estate Feeder Investment Trust No.1-1 (*3)(*11) Securities investment and others 63.2 63.2 Korea Decembe Held by Woori G Japan Private Placement Real Estate Feeder Investment Trust No.1-1 No. 1-2 (*6) Woori G Japan Private Placement Real Estate Master Investment Trust No.1 (*3)(*11) Securities investment and others 100.0 100.0 Korea Decembe Held by Woori Financial Capital Co., Ltd. and Woori Investment Bank Co., Ltd. (*6) Woori G Japan Private Placement Real Estate Master Investment Trust No.2-1 (*3)(*11) Securities investment and others — 100.0 Korea Decembe Main business Percentage of ownership (%) Location Financial Subsidiaries December 31, December 31, Held by Woori G Japan Private Placement Real Estate Master Investment Trust No.1 and Woori G Japan Private Placement Real Estate Master Investment Trust No.2-1 (*6) Woori G Japan Private Placement Real Estate Master Investment Trust No.2 (*3)(*11) Securities investment and others — 100.0 Korea Decemb Held by Woori G Japan Private Placement Real Estate Master Investment Trust No.1 GK OK Chatan (*3) Other financial services 99.9 99.9 Japan Octobe (*10) (*1) The entity was merged with WB Finance Co., Ltd., which is a second-tier subsidiary, during prior period. (*2) The entity is a structured entity for the purpose of asset securitization. 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 structured entity for the purpose of investment Although the Group is not a majority shareholder, the Group 2) is exposed to or has rights to variable returns from its involvement 3) has the ability to use its power to affect (*4) The entity is a ‘money trust’ under the Financial Investment Services and Capital Markets Act. 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) Companies are excluded from the consolidation as of December 31, 2021. (*6) Determined that the Group controls the investees, considering 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, by two or more subsidiaries’ investment or operation. (*7) During March 2021, the Parent company acquired a 100% equity of Woori Financial Savings Bank from the Parent company’s subsidiary Woori Financial Capital Co., Ltd. (*8) As a master-feeder fund, the equity interest represent those of the masterfund held by the feeder (*9) The Parent company’s subsidiary WB Finance Co., Ltd. has changed the name to WOORI BANK (CAMBODIA) PLC. (*10) As financial statements at the end of the reporting period cannot be obtained, the most recent financial statements were used. (*11) In accordance with the of the Capital Market a specialized investment-type private equity fund has been changed to a general private equity fund. (3) The Group has not consolidated the following entities as of December 31, 2020 and 2021 despite having more than 50% ownership interest: As of December 31, 2020 Subsidiaries Location Main Business Percentage of 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 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 Mirae Asset Seoul Ring Expressway Private Special Asset (*) Korea Securities Investment 66.7 Hangkang Sewage Treatment Plant Fund (*) Korea Securities Investment 55.6 Korea Investment Pocheon Hwado Expressway Professional Investment Fund (*) Korea Securities Investment 55.2 Midas Global Private Placement Real Estate Investment Trust No. 7-2 (*) Korea Securities Investment 58.3 Together-Korea Government Private Pool Private Securities Investment Trust No.3 (*) Korea Securities Investment 100.0 INMARK France Private Placement Investment Trust No. 18-1 (*) Korea Securities Investment 93.8 Kiwoom Vibrato Private Placement Investment Trust 1-W(EUR) (*) Korea Securities Investment 99.3 (*) 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. As of December 31, 2021 Subsidiaries Location Main Business Percentage of Mirae Asset Maps Clean Water Private Equity Investment Trust (*1) Korea Securities Investment 59.7 Kiwoom Yonsei Private Equity Investment Trust (*1) Korea Securities Investment 88.9 IGIS Europe Private Placement Real Estate Fund No. 163-2 (*1)(*2) Korea Securities Investment 97.9 IGIS Global Private Placement Real Estate Fund No. 148-1 (*1)(*2) Korea Securities Investment 75.0 IGIS Global Private Placement Real Estate Fund No. 148-2 (*1)(*2) Korea Securities Investment 75.0 Mirae Asset Seoul Ring Expressway Private Special Asset Fund No. 1 (*1)(*2) Korea Securities Investment 66.7 Hangkang Sewage Treatment Plant Fund (*1)(*2) Korea Securities Investment 55.6 Korea Investment Pocheon Hwado Expressway Professional Investment Fund (*1)(*2) Korea Securities Investment 55.2 Midas Global Private Placement Real Estate Investment Trust No. 7-2 (*1)(*2) Korea Securities Investment 58.3 Together-Korea Government Private Pool Private Securities Investment Trust No.3 (*1)(*2) Korea Securities Investment 100.0 INMARK France Private Placement Investment Trust No. 18-1 (*1)(*2) Korea Securities Investment 93.8 Kiwoom Vibrato Private Placement Investment Trust 1-W(EUR) (*1)(*2) Korea Securities Investment 99.5 KOTAM Global Infrastructure Private Equity Investment Trust No. 1-4 (*1)(*2) Korea Securities Investment 99.7 Hana UBS Class One Private Equity No. 3 C2 (*1) Korea Securities Investment 51.0 Consus Gyeongju Green Private Equity Investment Trust No. 1 (*1) (*2) Korea Securities Investment 50.0 Kiwoom Harmony Private Placement Investment Trust No. 3 (*1)(*2) Korea Securities Investment 77.4 Consus Solar Energy Private Placement Investment Trust No.1 (*1) Korea Securities Investment 50.0 (*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. (*2) In accordance with the revision of the Capital Market Act, a hedge fund has been changed to a private equity fund. (4) The summarized financial information of the major subsidiaries is 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, 2020 Subsidiaries Assets Liabilities Operating revenue Net income (loss) Comprehensive Woori Bank 374,310,415 350,790,158 26,838,766 1,363,224 1,295,302 Woori Card Co., Ltd. 11,366,596 9,312,986 1,388,208 120,230 118,109 Woori Financial Capital Co., Ltd. (*) 8,880,117 8,053,840 218,945 (30,349 ) (38,293 ) Woori Investment Bank Co., Ltd. 4,332,474 3,803,594 256,079 62,937 62,275 Woori Asset Trust Co., Ltd. 185,634 56,396 79,426 35,312 35,954 Woori Asset Management Corp. 136,460 23,411 26,158 6,797 6,313 Woori Credit Information Co., Ltd. 40,860 9,830 40,010 1,879 1,600 Woori Fund Service Co., Ltd. 18,957 2,172 13,346 2,563 2,563 Woori Private Equity Asset Management Co., Ltd. 38,035 2,009 4,773 823 768 Woori Global Asset Management Co., Ltd. 37,935 9,807 10,652 (1,449 ) (1,449 ) Woori FIS Co., Ltd. 97,479 59,577 249,169 2,013 1,935 Woori Finance Research Institute Co., Ltd. 7,232 3,689 6,223 105 95 (*) Net income (loss) attributable to owners of Woori Financial Capital for the year ended December 31, 2020 has been prepared on a cumulative basis since entity was included as the subsidiary. As of and for the year ended December 31, 2021 Subsidiaries Assets Liabilities Operating revenue Net income (loss) Comprehensive Woori Bank 415,976,627 391,360,200 24,311,964 2,330,433 2,478,754 Woori Card Co., Ltd. 14,116,832 11,858,065 1,528,680 200,726 210,316 Woori Financial Capital Co., Ltd. 10,259,868 9,073,104 997,655 140,579 141,275 Woori Investment Bank Co., Ltd. 5,159,742 4,559,856 303,253 79,924 79,747 Woori Asset Trust Co., Ltd. 254,773 86,418 94,228 40,300 40,263 Woori Asset Management Corp. 151,651 30,144 33,343 8,244 8,458 Woori Savings Bank 1,444,508 1,222,888 85,813 15,315 14,926 Woori Credit Information Co., Ltd. 40,510 8,532 37,507 1,563 1,513 Woori Fund Service Co., Ltd. 22,168 2,582 15,618 3,570 3,570 Woori Private Equity Asset Management Co., Ltd. 42,790 4,652 4,230 2,209 2,113 Woori Global Asset Management Co., Ltd. 35,265 7,579 11,785 (441 ) (441 ) Woori FIS Co., Ltd. 105,138 59,225 270,393 1,587 8,010 Woori Finance Research Institute Co., Ltd. 5,864 2,257 6,812 57 64 (5) The financial support that the Group provides to consolidated structured entities is as follows: • Structured entity for asset securitization The structured entity which 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 provision of 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 acquire beneficiary certificates through its contribution of funding to the structured entity by the Group, 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. As of December 31, 2020 and 2021, the Group provides 2,547,418 million Won and 2,480,131 million Won and of credit facilities, respectively, for the structured entities mentioned above. As of December 31, 2020 and 2021, the purchase commitment amounts to (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 interests in unconsolidated structured entities that the Group hold are classified into asset securitization vehicles, structured finance, investment fund and real-estate trust, based on the nature and the purpose of each structured entity. Unconsolidated structured entities classified as ‘asset securitization vehicles’ are entities that issue asset-backed securities, pay the principal and interest or distribute dividends on asset-backed securities through borrowings or profits from the management, operation and sale of securitized assets. The Group has been purchasing commitments of asset-backed securities or issuing asset-backed securities through credit grants, and recognizes related interest or fee revenue. There are entities that provide additional funding and conditional debt acquisition commitments 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 companies for ship (aircraft) financing. Each entity is incorporated as a separate company with a limited purpose in order to efficiently pursue business goals and the fund is raised by equity investment or loans from financial institutions and participating institutions. ‘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, profit or loss from assessment or transactions of financial instruments, 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. Investments in MMF(Money Market Funds) as of December 31, 2020 and 2021 are 427,375 million Won and 853,140 million Won, respectively, and there is no additional commitments for MMF. ‘Real estate trust’ is to be entrusted the underlying property for the purpose of managing, disposing, operating or developing from the consignor who owns the property and distributes the proceeds achieved through the trust to the beneficiary. When the consignee does not fulfill his or her important obligations in the trust contract or it is, in fact, difficult to run the business, the Group may be exposed to the threat of compensating the lo |
Basis of preparation and signif
Basis of preparation and significant accounting policies | 12 Months Ended |
Dec. 31, 2021 | |
Accounting policies [Abstract] | |
Basis of preparation and significant accounting policies | 2. BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (1) Basis of presentation 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 Wo December The principal accounting policies applied in the preparation of these consolidated financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. The consolidated financial statements, as described in following paragraphs of accounting policy, are prepared at the end of each reporting period in historical cost basis, except for certain non-current Meanwhile, the consolidated financial statements of the Group were initially approved by the Board of Directors on February 9, 2022, and were revised and approved on March 14, 2022, and the final approval was made in the annual general shareholders’ meeting on March 25, 2022. 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: ① IFRS 9 ‘ Financial Instruments Financial Instruments: Recognition and Measurement Financial Instruments: Disclosures Insurance Contracts Leases The amendment indicates that the effective interest rate shall be adjusted rather than the carrying amount when changing the interest rate benchmark for financial instruments measured at amortized cost. In addition, it allows hedge accounting to continue without interruption even when changes to interest rate benchmark occur in the hedging relationship. The amendment does not have a significant impact on the consolidated financial statements. Since the Group has derivatives, loans, and debentures that are directly affected by interest rate benchmark reform, the Group is working on a project to convert contracts referring to former interest rate benchmark into alternative benchmarks to minimize business disruptions, mitigate operational risks, and reduce possible financial losses. In accordance with the transitional provisions, the amendments have been applied retrospectively to hedging relationships and financial instruments. The comparative financial statements have not been restated and there is no effect of the adoption of the amendments on the beginning balance of reserves. The Group has applied ‘Interest Rate Benchmark Reform-Phase 2’, which is an amendment to IFRS 9, IAS 39, IFRS 7 and IFRS 16, beginning on January 1, 2021. In accordance with the transition provisions, the amendments were applied retrospectively to the hedging relationship and financial instruments. The comparative financial statements have not been restated and there is no effect of the adoption of the amendments on the beginning balance of reserves. a) Hedging relationship The Phase 2 amendments address issues arising from ‘Interest Rate Benchmark Reform-Phase 1’, including when the designation and documentation of hedges should be updated and when alternative rates are permitted as hedged risk. The Phase 1 amendments include an exceptional regulation that temporarily mitigates the application of specific hedge accounting requirements to hedging relationships directly affected by ‘Interest Rate Benchmark Reform’. Due to this mitigation, ‘Interest Rate Benchmark Reform’ typically does not stop hedge accounting until there is a change of the contract. However, hedge ineffectiveness continues to be recorded in the statement of profit or loss. It also suggests when the application of these exceptions should end, for instance, exceptional regulation should end when uncertainties due to ‘Interest Rate Benchmark Reform’ no longer appear. For the period beginning January 1, 2021, the Group has applied the following hedge accounting mitigation provisions provided in the Phase 2 amendments: Designation of a hedging relationship: When the Phase 1 amendments cease to apply, the Group will amend the designation of a hedging relationship to reflect the changes required by the Interest Rate Benchmark Reform when there is a change in one or more of the followings: • Designating the alternative benchmark rate (contractually or non-contractually • Amending the description of the hedged item so it refers to the alternative benchmark rate; or • Amending the description of the hedging instrument. The Group will amend the hedging relationship documentation to reflect these amendments by the end of the reporting period during which the changes are made. These amendments do not require the discontinuance of the hedging relationship. b) Financial instruments measured at amortized cost For financial instruments measured at amortized cost (including financial assets at FVTOCI-debt instruments), the Phase 2 amendments do not require the financial instrument to recognize gains or losses from the change because the change in the contractual cash flow basis required by the interest rate reform is reflected by adjusting the effective interest rate. A similar practical expedient exists for lease liabilities. This practical expedient is applicable only to changes required by interest rate indicator reform. When the changes are necessary as a direct result of Interest Rate Benchmark Reform and the new criteria for determining contractual cash flows are economically equivalent to the previous one, it is considered as a required change due to Interest Rate Benchmark Reform. If some or all of the changes in the instrument’s contractual cash flow calculation criteria do not meet the above criteria, the Group shall first apply the practical expedient to the changes made under the Interest Rate Benchmark Reform and then apply the general financial instrument requirements(In other words, the entity shall determine whether a modification or elimination is made and recognizes immediately in profit or loss any modification on financial instrument which has not been eliminated). For lease liabilities which basis for determining contractual cash flows is changed, as a practical expedient, the lease liabilities are remeasured at a discount rate that reflects the change in interest rates due to the Interest Rate Benchmark Reform. If an additional lease change is made in addition to the lease changes required by the Interest Rate Benchmark Reform, the general requirements of IFRS 16 apply to the accounting for all simultaneous lease changes, including those required by the Interest Rate Benchmark Reform. The details of Woori Bank’s financial instruments that have not completed the conversion to interest rates benchmark as of December 31, 2021 are as follows: Non-derivative USD (*1) EUR GBP JPY CHF BBSW Total (*2) Interest rate Non-derivative Financial assets at FVTOCI 662,878 194,084 — — — — — Financial assets at amortized cost 5,204,049 2,337,327 24,514 134,369 87,788 — — Sub-total 5,866,927 2,531,411 24,514 134,369 87,788 — — Non-derivative Financial liabilities at amortized cost 657,953 574,968 — — — — — Derivatives Interest rate related (for trading) 26,757,719 26,327,929 — 344,854 — 1,297 — Currency related (for trading) 35,169,303 35,169,303 — 407,264 175,422 — — Interest rate related (for hedging) 2,193,175 2,193,175 — — — — 128,834 Sub-total 64,120,197 63,690,407 — 752,118 175,422 1,297 128,834 Commitments and financial guarantees 1,167 — 7,374 — 1,854 — — (*1) Financial instruments related to USD Libor (overnight rate, 1, 3, 6, 12 month rates) that are expired before June 30, 2023 are excluded. (*2) For contracts that do not have an interest rate alternative clause, we are in the process of negotiating to add an interest rate alternative clause. The KRW CD interest rate is planned to be replaced by the Korea Overnight Financing Repo Rate (KOFR) in the long term, but the policy direction to activate the replacement rate or when the CD rate calculation will be discontinued is not clear. ② Amendments to IFRS 16 Leases —COVID-19 As a practical expedient, a lessee may elect not to assess whether a rent concession occurring as a direct consequence of the COVID-19 2) The details of IFRSs that have been issued and published as of the date of issue approval of financial statements but have not yet reached the effective date, and which the Group has not applied at an earlier date are as follows: ① Amendments to IFRS 3 Business Combination The amendments update a reference of definition of assets and liabilities qualify for recognition in revised Conceptual Framework for Financial Reporting. However, the amendments add an exception for the recognition of liabilities and contingent liabilities within the scope of IAS 37 Provisions, Contingent Liabilities and Contingent Assets, and IFRIC 21 Levies. The amendments also confirm that contingent assets should not be recognized at the acquisition date. The amendments should be applied for annual periods beginning on or after January 1, 2022, and earlier application is permitted. The Group does not expect that these amendments have a significant impact on the financial statements. ② Amendments to IAS 37 Provisions, Contingent Liabilities and Contingent Assets—Onerous Contracts: Cost of Fulfilling a Contract The amendments clarify that the direct costs of fulfilling a contract include both the incremental costs of fulfilling the contract and an allocation of other costs directly related to fulfilling contracts when assessing whether the contract is onerous. The amendments should be applied for annual periods beginning on or after January 1, 2022, and earlier application is permitted. The Group does not expect that these amendments have a significant impact on the financial statements. ③ Amendments to IAS 16 Property, Plant and Equipment—Proceeds before intended use The amendments prohibit an entity from deducting from the cost of an item of property, plant and equipment any proceeds from selling items produced while the entity is preparing the asset for its intended use. Instead, the entity will recognize the proceeds from selling such items, and the costs of producing those items, in profit or loss. The amendments should be applied for annual periods beginning on or after January 1, 2022, and earlier application is permitted. The Group does not expect that these amendments have a significant impact on the financial statements. ④ Annual Improvements to IFRSs 2018-2020 Annual improvements of IFRSs 2018-2020 Cycle should be applied for annual periods beginning on or after January 1, 2022, and earlier application is permitted. The Group does not expect that these amendments have a significant impact on the financial statements. • IFRS 1 First time Adoption of Korean International Financial Reporting Standards- Subsidiaries that are first-time adopters • IFRS 9 Financial Instruments - Fees related to the 10% test for derecognition of financial liabilities • IFRS 16 Leases- Lease incentives • IAS 41 Agriculture - Measuring fair value ⑤ Amendments to IAS 1 Presentation of Financial Statements—Classification of Liabilities as Current or Non-current The amendments clarify that liabilities are classified as either current or non-current, ⑥ Amendments to IAS 1 ‘Presentation of Financial Statements’—Disclosure of ‘Accounting Policy’ To define and disclose material accounting policies, and to provide guidance on how to apply the concept of materiality, ‘Accounting Policy Disclosure’ of the IFRS Practice Statement 2 has been amended. These amendments apply for annual periods beginning on or after January 1, ⑦ Amendments to IAS 8 ‘Accounting Policies, Changes in Accounting Estimates and Errors’—Definition of ‘Accounting Estimates’ The amendments have defined accounting estimates and clarified how to distinguish them from changes in accounting policies. These amendments apply for annual periods beginning on or after January 1, ⑧ Amendments to IAS 12 ‘Income Taxes’—deferred tax related to assets and liabilities arising from a single transaction Additional phrase ‘the temporary difference to be added and the temporary difference to be deducted do not occur in the same amount’ has been added to initial recognition exception for a transaction in which an asset or liability is initially recognized. These amendments apply for annual periods beginning on or after January 1, 2023, and early application is permitted. The Group does not expect that these amendments have a significant impact on the financial statements. The above enacted or amended standards will not have a significant impact on the Group. (2) Basis of consolidated financial statement presentation The consolidated financial statements consist of the financial statements of the Parent company and the entities (including structured entities) controlled by the Parent company (or 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) able to use its power to affect its returns. The Group reassesses whether 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 most 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 the Group’s voting rights in an investee are enough 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. The carrying amount of the non-controlling non-controlling non-controlling non-controlling When 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 acquires assets, liabilities and contingent liabilities are recognized at their fair value, except for the followings: • 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 The subsidiary’s non-controlling non-controlling entitled to a proportional share of the entity’s net assets, the non-controlling non-controlling non-controlling non-controlling non-controlling 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. If the initial accounting for a business combination is not completed by the end of the reporting period in which the business combination occurred, the Group reports in consolidated financial statements the provisional amount of items that have not been accounted for. If there is new information about the facts and circumstances that existed as of the acquisition date during the measurement period (see above), the Group retrospectively adjusts the provisional amounts recognized at the acquisition date or recognizes additional assets and liabilities to reflect the information that would have affected the measurement of the amount recognized at the acquisition date if it had already known at the acquisition date. (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 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 thereafter to recognize the Group’s share of the net assets of the joint ventures and associates and any impairment. When the Group’s share of losses of the joint ventures and associates exceeds the Group’s interest in the associate, the Group discontinues recognizing its share of further losses. Additional losses are recognized only to the extent that the Group has incurred legal or constructive obligations or made payments on behalf of the joint ventures and associates. Investment in joint ventures and associates are accounted for and applied with the equity method from the time the investee becomes an associate or a joint venture. 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 exists after the review, it is recognized immediately in net income. 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 as a single asset by comparing its recoverable amount (higher of value in use and fair value less costs to sell) with its carrying amount. Any impairment loss recognized is not allocated to any asset (including goodwill), which forms part of the carrying amount of the investment. Any reversal of that impairment loss is recognized in accordance with IAS 36 to the extent that the recoverable amount of the investment subsequently increases. The Group ceases to use the equity method from the time it fails meet the definition of an associate or a joint venture. 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 or a joint venture 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 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 the Group 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. The Group applies IFRS 9 Financial Instruments, including the impairment requirements, to its long-term investment interests in associates and joint ventures that form part of its net investment without applying the equity method. In addition, when applying IFRS 9 to long-term investments, the Group does not consider adjustments to the carrying amount required by IAS 28. Examples of such adjustments include an impairment assessment or an adjustment to the carrying amount of the long-term investment interest resulting from the allocation of losses to the investee in accordance with IAS 28. (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; • its expenses, including its share of any expenses incurred jointly. The Group accounts for the assets, liabilities, revenues and expenses that correspond to its interest in a joint operation in accordance with the IFRSs and IASs applicable to the specific 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 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. (6) Revenue recognition IFRS 15 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. Revenues other than those from contracts with customers, such as interest revenue and loan origination fee (cost), are recognized through effective interest rate method. 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 recognize 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. Most of these fees and commission received for brokerage are from the business activities relevant to 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. Most of these fees and commission received related to credit are from the business activities relevant to Banking, Credit card and Investment 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. Most of these fees and commission received for electronic finance are from the business activities relevant to Banking and Investment 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 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 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 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 certi |
Significant accounting estimate
Significant accounting estimates and assumptions | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of changes in accounting estimates [abstract] | |
Significant Accounting Estimates And Assumptions | 3. SIGNIFICANT ACCOUNTING ESTIMATES AND ASSUMPTIONS Significant accounting estimates and assumptions are continuously evaluated based on a number of factors, including historical experience and expectations of future events that are considered reasonably probable. Accounting estimates calculated based on these definitions may not match actual results. The accounting estimates and assumptions that include a significant risk of materially changing the carrying amounts of assets and liabilities currently recognized in the following accounting period are as follows. The outbreak of COVID-19 COVID-19 The Group determined that the credit risk of loan affected by the loan deferment has significantly increased and evaluated that the possibility of default is high. The Group will continue to assess the adequacy of forward-looking <Woori Bank> Woori Bank’s total loans (loans, payment guarantees) that are subject to loan deferment and interest deferment, total loans that changed its stage from 12-month to lifetime expected credit losses (Stage 2), and the expected credit loss allowances recognized additionally are as follows. (Unit: Korean Won in millions): December 31, 2020 December 31, 2021 Total loans (Loans, payment guarantees) that are subject to loan deferment and interest deferment Corporate 1,697,899 2,428,496 Retail 122,425 167,146 Total 1,820,324 2,595,642 Total loans changed its stage from 12-month to lifetime (Stage 2) expected credit Corporate 1,548,805 2,125,492 Retail 101,721 134,920 Total 1,650,526 2,260,412 The expected credit loss allowances that are additionally recognized Corporate 210,173 275,057 Retail 9,058 9,657 Total 219,231 284,714 In addition, as of December 31, 2021, the Group applied the overlay when forecasting future economic conditions in consideration of the potential for insolvency due to increase in market interest rate and the increase in economic uncertainty due to the accelerated spread of COVID-19. As of December 31, 2021, the monetary effect of the expected credit loss allowance due to the application of the forecast of future economic conditions overlay is as follows (Unit: Korean Won in millions): Increase in expected Corporate 48,583 Retail 6,237 Total 54,820 <Woori Card> Woori Card Co., Ltd. determined that the credit risk of obligors receiving financial support due to COVID-19 million Won, and the cumulative expected credit loss allowance has increased for <Woori Financial Capital Co., Ltd.> Woori Financial Capital Co., Ltd. determined that the credit risk of obligors receiving financial support due to COVID-19 Won and cumulative expected credit loss allowance has increased for (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 ‘2. Basis of Preparation and Significant Accounting Policies (9) 5) Fair value of financial instruments’, 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. (3) Impairment of financial instruments The accuracy of the provision for credit losses is determined by the estimation of the expected cash flows for each tenant for estimating the individually assessed loan-loss allowance, and the assumptions and variables in the model used for estimating the collectively assessed loan-loss allowance payment, guarantee and unused commitment. 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. Information on measuring expected credit loss is described in ‘4. Risk Management (1) 2) Measurement of expected credit loss’. (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, 2021 | |
Disclosure of risk management [Abstract] | |
Risk Management | 4. RISK MANAGEMENT The Group’s operating activity is exposed to various financial risks and the main types of risks are credit risk, market risk, liquidity risk and etc. The risk management department analyzes and assesses the level of complex risks in order to manage the risks and the risk management standards such as policies, regulations, management systems and whether decision-making have been established and operated for sound management of the Group. The risk management organization is operated by risk management committee, person in charge of risk management, and risk management department. The Board of Directors operates a risk management committee comprised of outside directors for professional risk management. The risk management committee plays a role as the top decision-making body in risk management by establishing basic policies for risk management that are in line with the Group’s management strategy and determining the risk level that the Group is willing to take. The risk management office (CRO) assists the risk management committee and operates a group risk management council comprised of risk management managers of subsidiaries to periodically check and improve the risk burden of external environments and the Group. The risk management department is independent and is in charge of risk management of the Group. It also supports reporting and decision-making of key risk-related issues. (1) Credit risk Credit risk represents the possibility of financial losses incurred due to the refusal of the transaction or 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, other than quantitative methods utilizing financial statements and others, and assessor’s judgement, 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 by monitoring 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) Measurement of expected credit loss IFRS 9 requires entities to measure allowance for credit losses equal to 12-month Classification Stage 1 Stage 2 Stage 3 Definition No significant increase in credit risk after initial recognition (*) Significant increase in credit risk after initial recognition Credit-impaired Allowance for credit losses 12-month Lifetime expected credit losses: Expected credit losses that result from those default events on the financial instrument that are possible within 12 months after the reporting date Expected credit losses that result from all possible default events over the life of the financial instrument (*) If the financial instrument has low credit risk at the end of the reporting period, the Group may assume that the credit risk has not increased significantly since initial recognition. At the end of each reporting period, the Group assesses whether credit risk reflecting forward-looking information has significantly been increased since the date of initial recognition. When assessing 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 Bank performs the above assessment to both 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 Deferment of repayment of principal and interest Significant decrease in credit rating (*) Deferment of interest Deferment of repayment of principal and interest Deferment of interest (*) The Group has applied the above indicators of significant decrease in credit rating since initial recognition as follows, and the estimation method is regularly being monitored. Credit rating Significant increased indicator of the Corporate AAA ~ A+ More than or equal to 4 steps A- More than or equal to 3 steps BBB- More than or equal to 2 steps BB ~ BB- More than or equal to 1 step Retail 1 ~ 3 More than or equal to 3 steps 4 ~ 5 More than or equal to 2 steps 6 ~ 10 More than or equal to 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 have been noted for the financial asset The Group has estimated the allowance for credit losses using an estimation model that additionally reflects the future economic forward information based on the past experience loss rate data. 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. In measuring the expected credit losses, the Group is also 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 estimation models by analyzing the correlation between default rates of corporate and retail exposures per year and macroeconomic indicators Major macroeconomic indicators Correlation between credit risk and macroeconomic GDP growth rate Negative (-) Correlation Personal consumption expenditures price index rate Negative (-) Correlation Consumer price index rate Negative (-) Correlation • Calculation of estimated 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 estimation model developed • Disclosure of economic variable forecasts a) Probability weight As of December 31, 2021, the probability weights applied to the scenarios of the forecasts of macroeconomic variables is as follows (Unit: %): Basic Scenario Upside Scenario Downside Scenario Probability weight 55.59 13.37 31.04 b) Economic forecast of each major economic variables by scenario (prospect period: 2022) As of December 31, 2021, the forecasts of major macroeconomic variables by scenario are as follows (Unit: %) Basic Scenario Upside Scenario Downside Scenario GDP growth rate 3.00 3.22 2.60 Personal consumption expenditures price index rate 3.60 4.01 2.85 Consumer price index rate 2.00 2.10 1.82 The results of Woori Bank’s sensitivity analysis on expected credit loss provisions due to changes in macroeconomic indicators as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, 2020 Corporate GDP growth rate Increase by 1% point (86,086 ) Decrease by 1% point 96,177 Retail Consumer price index rate Increase by 1% point (15,807 ) Decrease by 1% point 17,119 December 31, 2021 Corporate GDP growth rate Increase by 1% point (68,140 ) Decrease by 1% point 74,495 Personal consumption expenditures price index rate Increase by 1% point (40,654 ) Decrease by 1% point 43,028 Retail GDP growth rate Increase by 1% point (8,798 ) Decrease by 1% point 9,163 Consumer price index rate Increase by 1% point (29,469 ) Decrease by 1% point 34,352 • The increase rate between the measured default rate and the predicted default rate is used as a future economic forecast adjustment coefficient and reflected to the applicable estimate for the current year. 3) Maximum exposure to credit risk The Group’s maximum exposure to credit risk shows the uncertainties related to the maximum possible variation of financial assets’ net value as a result of changes in the specific risk factors, prior to the consideration of collaterals that are recorded at net book value after allowances and other credit enhancements. However, the maximum exposure is the fair value amount (recorded on the books) for derivatives, maximum contractual obligation for payment guarantees and unused amount of commitments for loan commitment. The maximum exposure to credit risk as of December 31, 2020 and 2021 is as follows (Unit: Korean Won in millions): December 31, December 31, Loans and other financial assets at amortized cost (*1) Korean treasury and government agencies 9,725,719 14,934,813 Banks 19,493,189 24,733,020 Corporates 114,131,994 131,027,256 Consumers 176,755,176 191,237,783 Sub-total 320,106,078 361,932,872 Financial assets at FVTPL (*2) Deposit 48,796 65,072 Debt securities 2,887,097 2,743,239 Loans 676,291 667,467 Derivative assets 6,901,742 4,803,131 Others — 1,518 Sub-total 10,513,926 8,280,427 Financial assets at FVTOCI Debt securities 28,948,141 38,126,977 Securities at amortized cost Debt securities 17,020,839 17,086,274 Derivative assets Derivative assets (Designated for hedging) 174,820 106,764 Off-balance Guarantees (*3) 11,809,456 12,987,809 Loan commitments 112,088,680 114,414,462 Sub-total 123,898,136 127,402,271 Total 500,661,940 552,935,585 (*1) Cash and cash equivalents are not included. (*2) Puttable financial instruments are not included. (*3) As of December 31, 2020 and 2021, the financial guarantee amounts of 4,163,382 million Won and 3,960,383 million Won are included, respectively. a) Credit risk exposure by geographical areas The following tables analyze credit risk exposure by geographical areas (Unit: Korean Won in millions): December 31, 2020 Korea China USA UK Japan Others (*) Total Loans and other financial assets at amortized cost 296,186,751 4,356,747 3,988,304 1,990,490 1,404,670 12,179,116 320,106,078 Securities at amortized cost 16,749,531 — 110,597 — — 160,711 17,020,839 Financial assets at FVTPL 6,954,630 13,403 1,083,096 493,285 480,760 1,488,752 10,513,926 Financial assets at FVTOCI 25,966,333 608,893 1,092,636 5 5,460 1,274,814 28,948,141 Derivative assets (Designated for hedging) — — 165,458 3,740 — 5,622 174,820 Off-balance 119,699,069 1,393,734 399,678 38,389 41,378 2,325,888 123,898,136 Total 465,556,314 6,372,777 6,839,769 2,525,909 1,932,268 17,434,903 500,661,940 (*) Others consist of financial assets in Indonesia, Hong Kong, Germany, Australia, and other countries. December 31, 2021 Korea China USA UK Japan Others (*) Total Loans and other financial assets at amortized cost 338,674,446 5,620,622 3,742,331 212,821 811,030 12,871,622 361,932,872 Securities at amortized cost 16,785,265 92,880 27,018 — — 181,111 17,086,274 Financial assets at FVTPL 6,150,464 1,330 1,188,358 195,048 61,315 683,912 8,280,427 Financial assets at FVTOCI 34,242,133 808,359 1,713,435 1,755 23,193 1,338,102 38,126,977 Derivative assets (Designated for hedging) 11,678 — 95,086 — — — 106,764 Off-balance 123,375,839 1,001,430 375,929 31,116 32,402 2,585,555 127,402,271 Total 519,239,825 7,524,621 7,142,157 440,740 927,940 17,660,302 552,935,585 (*) Others consist of financial assets in Indonesia, Hong Kong, Germany, Australia, and other countries. b) Credit risk exposure by industries ① 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 as of December 31, 2020 and 2021 (Unit: Korean Won in millions): December 31, 2020 Service Manufacturing Finance and Construction Individuals Others Total Loans and other financial assets at amortized cost 56,627,927 35,933,953 35,450,774 3,493,000 172,116,780 16,483,644 320,106,078 Securities at amortized cost 492,172 6,691 8,926,909 302,225 — 7,292,842 17,020,839 Financial assets at FVTPL 301,296 234,712 8,520,127 32,240 14,619 1,410,932 10,513,926 Financial assets at FVTOCI 475,881 207,903 23,017,149 142,396 — 5,104,812 28,948,141 Derivative assets (Designated for hedging) — — 174,820 — — — 174,820 Off-balance 18,828,656 21,460,581 12,086,935 4,060,358 62,477,117 4,984,489 123,898,136 Total 76,725,932 57,843,840 88,176,714 8,030,219 234,608,516 35,276,719 500,661,940 December 31, 2021 Service Manufacturing Finance and Construction Individuals Others Total Loans and other financial assets at amortized cost 67,895,018 37,679,784 45,540,602 4,303,491 185,972,844 20,541,133 361,932,872 Securities at amortized cost 479,291 — 7,061,770 250,607 — 9,294,606 17,086,274 Financial assets at FVTPL 115,346 146,277 6,646,922 13,623 1,836 1,356,423 8,280,427 Financial assets at FVTOCI 376,998 258,866 29,444,989 131,967 — 7,914,157 38,126,977 Derivative assets (Designated for hedging) — — 79,369 27,395 — — 106,764 Off-balance 18,565,570 18,994,662 11,763,667 3,900,766 67,966,826 6,210,780 127,402,271 Total 87,432,223 57,079,589 100,537,319 8,627,849 253,941,506 45,317,099 552,935,585 ② The detailed industries of financial assets and corporate loans that might get affected by the spread of COVID-19 < Woori Bank > December 31, 2020 Loans and other Financial assets Financial assets Service business Distribution business General retail business 1,070,789 11,944 5,461 General wholesale business 1,407,563 3,573 — Sub-total 2,478,352 15,517 5,461 Accommodation business 1,525,157 9,305 5,471 Travel business 59,858 — — Art/sports, leisure service 1,467,643 17,739 — Food business 1,078,832 2,515 — Transportation business 395,873 461 8,752 Education business 367,701 489 — Others 1,286,578 2,691 — Sub-total 8,659,994 48,717 19,684 Manufacturing Textile 2,281,344 6,608 6,559 Metal 1,390,290 47,903 — Non-metal 698,478 8,357 — Chemical 1,819,207 19,161 — Transportation 3,268,095 2,060 — Electronics 1,424,297 19,280 — Cosmetics 323,231 217 — Others 368,123 277 — Sub-total 11,573,065 103,863 6,559 Total 20,233,059 152,580 26,243 December 31, 2020 Off-balance accounts Total Service business Distribution business General retail business 897,101 1,985,295 General wholesale business 483,360 1,894,496 Sub-total 1,380,461 3,879,791 Accommodation business 152,059 1,691,992 Travel business 21,350 81,208 Art/sports, leisure service 114,388 1,599,770 Food business 135,680 1,217,027 Transportation business 193,578 598,664 Education business 48,064 416,254 Others 318,641 1,607,910 Sub-total 2,364,221 11,092,616 Manufacturing Textile 1,064,005 3,358,516 Metal 1,581,887 3,020,080 Non-metal 377,506 1,084,341 Chemical 3,233,405 5,071,773 Transportation 2,183,616 5,453,771 Electronics 1,789,605 3,233,182 Cosmetics 54,518 377,966 Others 1,483,551 1,851,951 Sub-total 11,768,093 23,451,580 Total 14,132,314 34,544,196 December 31, 2021 Loans and other Financial assets Financial assets Service business Distribution business General retail business 754,850 274 — General wholesale business 809,893 221 — Sub-total 1,564,743 495 — Accommodation business 1,441,185 625 23,840 Travel business 53,302 — — Art/sports, leisure service 600,746 503 — Food business 1,279,128 216 — Transportation business 404,120 77 — Others 1,050,229 599 — Sub-total 6,393,453 2,515 23,840 Manufacturing Textile 2,626,493 724 10,718 Metal 199,877 10 — Non-metal 148,471 24 — Chemical 904,563 1,994 — Electronics 103,510 31 — Others 191,865 — — Sub-total 4,174,779 2,783 10,718 Total 10,568,232 5,298 34,558 December 31, 2021 Off-balance accounts Total Service business Distribution business General retail business 299,064 1,054,188 General wholesale business 237,678 1,047,792 Sub-total 536,742 2,101,980 Accommodation business 181,563 1,647,213 Travel business 12,455 65,757 Art/sports, leisure service 63,660 664,909 Food business 179,799 1,459,143 Transportation business 167,883 572,080 Others 191,837 1,242,665 Sub-total 1,333,939 7,753,747 Manufacturing Textile 1,012,989 3,650,924 Metal 9,704 209,591 Non-metal 48,171 196,666 Chemical 689,895 1,596,452 Electronics 33,389 136,930 Others 87,587 279,452 Sub-total 1,881,735 6,070,015 Total 3,215,674 13,823,762 < Woori Card Co., Ltd. > December 31, 2020 Loans and other Financial assets at Financial assets at Off-balance Total Accommodation business 4,959 — — 12,315 17,274 Travel business 2,175 — — 25,367 27,542 Aviation 479 — — 4,179 4,658 Cosmetics industry 2,462 — — 13,376 15,838 Distribution business 8,050 — — 44,354 52,404 Food industry 33,084 — — 163,711 196,795 Art/sports, leisure service 6,156 — — 51,962 58,118 Total 57,365 — — 315,264 372,629 December 31, 2021 Loans and other Financial assets at Financial assets at Off-balance Total Accommodation business 2,341 — — 11,472 13,813 Travel business 3,334 — — 20,056 23,390 Aviation 983 — — 4,025 5,008 Cosmetics industry 3,187 — — 10,692 13,879 Distribution business 7,582 — — 38,741 46,323 Food industry 30,267 — — 122,793 153,060 Art/sports, leisure service 8,336 — — 44,286 52,622 Total 56,030 — — 252,065 308,095 <Woori Financial Capital Co., Ltd.> December 31, 2020 Loans and other Financial assets Financial assets Service business Distribution business General retail business 8,978 — — General wholesale business 57,587 — — Sub-total 66,565 — — Accommodation business 6,292 — — Travel business 1,293 — — Art/sports, leisure service 615 — — Food business 21,774 — — Transportation business 28,270 — — Education business 1,132 — — Others 365,860 27,364 — Sub-total 491,801 27,364 — Manufacturing Textile 29,415 — — Metal 17,963 — — Non-metal 4,780 — — Chemical 2,501 — — Transportation 52,514 — — Electronics 12,665 — — Others 5,335 — — Sub-total 125,173 — — Total COVID-19 616,974 27,364 — Other business Others 6,202,754 225,078 — Total 6,819,728 252,442 — December 31, 2020 Off-balance accounts Total Service business Distribution business General retail business — 8,978 General wholesale business — 57,587 Sub-total — 66,565 Accommodation business — 6,292 Travel business — 1,293 Art/sports, leisure service — 615 Food business — 21,774 Transportation business — 28,270 Education business — 1,132 Others 38,681 431,905 Sub-total 38,681 557,846 Manufacturing Textile — 29,415 Metal 3,365 21,328 Non-metal — 4,780 Chemical — 2,501 Transportation — 52,514 Electronics — 12,665 Others — 5,335 Sub-total 3,365 128,538 Total COVID-19 42,046 686,384 Other business Others 333,766 6,761,598 Total 375,812 7,447,982 December 31, 2021 Loans and other Financial assets Financial assets Service business Distribution business General retail business 77,841 — — General wholesale business 292,832 — — Sub-total 370,673 — — Accommodation business 7,338 — — Travel business 57 — — Art/sports, leisure service 8,544 — — Food business 125,075 — — Transportation business 598,972 — — Education business 22,118 — — Others 102,787 — — Sub-total 1,235,564 — — Manufacturing Textile 727 — — Metal 2,824 — — Non-metal 698 — — Chemical 172 — — Transportation 438 — — Electronics 3,993 — — Cosmetics 685 — — Others 108,540 — — Sub-total 118,077 — — Total COVID-19 1,353,641 — — Other business Others 6,489,394 28,222 — Total 7,843,035 28,222 — December 31, 2021 Off-balance accounts Total Service business Distribution business General retail business — 77,841 General wholesale business — 292,832 Sub-total — 370,673 Accommodation business — 7,338 Travel business — 57 Art/sports, leisure service — 8,544 Food business — 125,075 Transportation business — 598,972 Education business — 22,118 Others 140,549 243,336 Sub-total 140,549 1,376,113 Manufacturing Textile — 727 Metal — 2,824 Non-metal — 698 Chemical — 172 Transportation — 438 Electronics — 3,993 Cosmetics — 685 Others 13,432 121,972 Sub-total 13,432 131,509 Total COVID-19 153,981 1,507,622 Other business Others 812,597 7,330,213 Total 966,578 8,837,835 < Woori Investment Bank Co., Ltd. > December 31, 2020 Loans and other Financial assets at Financial assets at Off-balance Total Accommodation business 44,900 — — — 44,900 Distribution business 15,716 20,000 — — 35,716 Art/sports, leisure service 28,000 — — — 28,000 Total 88,616 20,000 — — 108,616 December 31, 2021 Loans and other Financial assets at Financial assets at Off-balance Total Accommodation business 57,142 — — — 57,142 Distribution business 12,885 — — — 12,885 Art/sports, leisure service 31,772 — — — 31,772 Total 101,799 — — — 101,799 4) 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) as of December 31, 2020 and 2021 is as follows (Unit: Korean Won in millions): December 31, 2020 Stage 1 Stage 2 Stage 3 Total Allowance Total, net Above rating (*1) Less than a rating (*3) Above rating (*2) Less than a rating (*3) Loans and other financial assets at amortized cost 278,729,012 21,249,885 10,356,251 10,143,839 1,623,276 322,102,263 (1,996,185 ) 320,106,078 Korean treasury and government agencies 9,674,891 1,063 52,279 — — 9,728,233 (2,514 ) 9,725,719 Banks 19,301,570 105,890 75,876 — 25,598 19,508,934 (15,745 ) 19,493,189 Corporates 93,889,922 14,873,376 1,890,564 3,860,389 839,234 115,353,485 (1,221,491 ) 114,131,994 General business 61,082,336 9,013,955 1,349,053 2,585,868 576,078 74,607,290 (869,744 ) 73,737,546 Small- and medium-sized 27,504,992 5,415,312 538,909 1,207,706 227,003 34,893,922 (304,077 ) 34,589,845 Project financing and others 5,302,594 444,109 2,602 66,815 36,153 5,852,273 (47,670 ) 5,804,603 Consumers 155,862,629 6,269,556 8,337,532 6,283,450 758,444 177,511,611 (756,435 ) 176,755,176 Securities at amortized cost 17,025,405 — — — — 17,025,405 (4,566 ) 17,020,839 Financial assets at FVTOCI (*3) 28,789,281 158,860 — — — 28,948,141 (9,631 ) 28,948,141 Total 324,543,698 21,408,745 10,356,251 10,143,839 1,623,276 368,075,809 (2,010,382 ) 366,075,058 December 31, 2020 Collateral value Stage1 Stage2 Stage3 Total Loans and other financial assets at amortized cost 187,731,443 15,677,871 696,709 204,106,023 Korean treasury and government agencies 19,280 — — 19,280 Banks 1,003,971 — — 1,003,971 Corporates 62,817,305 3,963,101 400,340 67,180,746 General business 35,578,470 2,670,480 271,815 38,520,765 Small- and medium-sized 25,404,002 1,290,941 118,265 26,813,208 Project financing and others 1,834,833 1,680 10,260 1,846,773 Consumers 123,890,887 11,714,770 296,369 135,902,026 Securities at amortized cost — — — — Financial assets at FVTOCI (*3) — — — — Total 187,731,443 15,677,871 696,709 204,106,023 (*1) Credit grade of corporates are AAA ~ BBB, and consumers are grades 1 ~ 6. (*2) Credit grade of corporates are BBB- (*3) Financial assets at FVTOCI has been disclosed as the amount before deducting allowance for credit losses because loss allowance does not reduce the carrying amount. December 31, 2021 Stage 1 Stage 2 Stage 3 Total Allowance Total, net Above (*1) Less than a (*2) Above (*1) Less than a (*2) Loans and other financial assets at amortized cost 316,364,525 22,734,430 13,270,491 10,190,307 1,332,644 363,892,397 (1,959,525 ) 361,932,872 Korean treasury and government agencies 14,938,718 9 9 — — 14,938,736 (3,923 ) 14,934,813 Banks 24,186,246 492,447 46,373 — 23,509 24,748,575 (15,555 ) 24,733,020 Corporates 108,917,062 15,952,017 2,698,907 3,963,782 658,923 132,190,691 (1,163,435 ) 131,027,256 General business 68,767,641 9,010,115 1,886,740 2,597,136 438,537 82,700,169 (785,908 ) 81,914,261 Small- and medium-sized 33,306,787 6,459,338 790,750 1,353,313 156,440 42,066,628 (322,635 ) 41,743,993 Project financing and others 6,842,634 482,564 21,417 13,333 63,946 7,423,894 (54,892 ) 7,369,002 Consumers 168,322,499 6,289,957 10,525,202 6,226,525 650,212 192,014,395 (776,612 ) 191,237,783 Securities at amortized cost 17,091,509 — — — — 17,091,509 (5,235 ) 17,086,274 Financial assets at FVTOCI (*3) 37,917,922 209,055 — — — 38,126,977 (12,146 ) 38,126,977 Total 371,373,956 22,943,485 13,270,491 10,190,307 1,332,644 419,110,883 (1,976,906 ) 417,146,123 December 31, 2021 Collateral value Stage1 Stage2 Stage3 Total Loans and other financial assets at amortized cost 208,188,057 18,098,940 643,183 226,930,180 Korean treasury and government agencies 20,679 — — 20,679 Banks 1,287,055 — — 1,287,055 Corporates 74,403,502 4,796,510 351,837 79,551,849 General business 40,288,663 3,120,790 220,792 43,630,245 Small- and medium-sized 30,852,567 1,675,720 80,830 32,609,117 Project financing and others 3,262,272 — 50,215 3,312,487 Consumers 132,476,821 13,302,430 291,346 146,070,597 Securities at amortized cost — — — — Financial assets at FVTOCI (*3) — — — — Total 208,188,057 18,098,940 643,183 226,930,180 (*1) Credit grade of corporates are AAA ~ BBB, and consumers are grades 1 ~ 6. (*2) Credit grade of corporates are BBB- (*3) Financial assets at FVTOCI has been disclosed as the amount before deducting allowance for credit losses because loss allowance does not reduce the carrying amount. b) Guarantees and commitments The credit quality of the guarantees and loan commitments as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, 2020 Financial assets Stage 1 Stage 2 Stage3 Total Above (*1) Less than a (*2) Above (*1) Less than a (*2) Off-balance Guarantees 10,152,900 1,382,592 11,504 191,962 70,498 11,809,456 Loan Commitments 105,108,967 4,045,595 1,951,649 977,185 5,284 112,088,680 Total 115,261,867 5,428,187 1,963,153 1,169,147 75,782 123,898,136 (*1) Credit grade of corporates are AAA ~ BBB, and consumers are grades 1 ~ 6. (*2) Credit grade of corporate are BBB- December 31, 2021 Financial assets Stage 1 Stage 2 Stage3 Total Above credit rating (*1) Less than a (*2) Above (*1) Less than a (*2) Off-balance Guarantees 11,560,908 1,037,142 47,549 275,166 67,044 12,987,809 Loan Commitments 107,916,434 3,591,413 2,072,348 832,173 2,094 114,414,462 Total 119,477,342 4,628,555 2,119,897 1,107,339 69,138 127,402,271 (*1) Credit grade of corporates are AAA ~ BBB, and consumers are grades 1 ~ 6. (*2) Credit grade of corporates are BBB- 5) Collateral and other credit enhancements For the years ended December 31, 2020 and 2021, 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. 6) Among financial assets that measured loss allowance at lifetime expected credit losses, amortized costs before changes in contractual cash flows as of December 31,2020 and 2021 are 265,760 million Won and 145,594 million Won respectively, with net losses recognized along with the changes, 12,786 million Won and 11,734 million Won respectively. 7) The Group determines which loan is subject to write-off write-off, 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, 2020 and 2021 are 9,986,186 million Won and 10,107,413 million Won. In addition, the contractual non-recoverable (2) Market risk Market risk is the possible risk of loss arising from trading position and non-trading 1) Market risk management Market risk management refers to the process of making and implementing decisions for the avoidance, acceptance or mitigation of risks by identifying the underlying source of the risks and measuring its level and evaluating the appropriateness of the level of accepted market risks. a) Trading activities The Group uses the standard method and the internally developed model (the Bank) in measuring market risk for trading positions and allocates market risk capital through the Risk Management Committee. Risk management departments of the Group and its subsidiaries manage limits in detail including those on risk and loss with their management result regularly reported to the Risk Management Committee. Woori Bank, a subsidiary of the Group, uses the internal model approved by the Financial Supervisory Service to measure the VaR using the Historical Simulation Method based on a 99% confidence level and a 10-day The minimum, maximum and average VaR of the Bank for the year December 31, 2020 and 2021, and the VaR of the Bank as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, For the year ended December 31, 2020 December 31, For the year ended December 31, 2021 Risk factor Average Maximum Minimum Average Maximum Minimum Interest rate 6,815 7,959 15,065 2,427 4,177 4,681 14,017 2,405 Stock price 2,283 5,783 14,394 1,982 2,972 3,637 6,676 1,609 Foreign currencies 11,160 8,814 11,233 4,613 5,904 6,745 13,144 4,747 Diversification (11,087 ) (11,175 ) (18,796 ) (3,452 ) (6,072 ) (7,300 ) (20,006 ) (3,627 ) Total VaR (*) 9,171 11,381 21,896 5,570 6,981 7,763 13,831 5,134 (*) VaR (Value at Risk): Retention period of 1day, Maximum expected losses under 99% level of confidence. b) Non-trading The Bank manages and measures interest risk for non-trading ΔNII represents a change in net interest income that may occur over a certain period (e.g. one year) due to changes in net interest income, and ΔEVE indicates the economic value changes in equity capital that could be caused by changes in interest rates affecting the present value of asset, liabilities, and others. For assets and liabilities as of December 31, 2020 and 2021 that include bank, consolidated trusts and subsidiaries of the bank, details of ΔEVE and ΔNII calculated based on interest rate risk in banking book (IRRBB) are as follows (Unit: Korean Won in millions): December 31, 2020 (*3) December 31, 2021 Δ EVE (*1) Δ NII (*2) Δ EVE (*1) Δ NII (*2) Woori Bank 634,596 66,138 920,290 195,186 Woori Card Co., Ltd. — — 126,576 59,114 Woori Financial Capital Co., Ltd. — — 58,794 1,384 Woori Investment Bank Co., Ltd. — — 17,607 5,556 Woori Asset Trust Co., Ltd. — — 820 1,709 Woori Asset Management Corp. — — 1,411 504 Woori Savings Bank — — 15,175 949 Woori Private Equity Asset Management Co., Ltd. — — 32 59 Woori Global Asset Management Co., Ltd. — — 246 143 (*1) ΔEVE: change in Economic Value of Equity (*2) ΔNII: change in Net Interest Income (*3) As of December 31, 2020, for the remaining subsidiaries except the bank, consolidated trusts, and consolidated subsidiaries of the bank, EVE and NII were not calculated. For the remaining subsidiaries except the bank, consolidated trusts, and consolidated subsidiaries of the bank as of December 31, 2020, the interest rate EaR and VaR calculated based on the BIS Framework are as follows (Unit: Korean Won in millions): December 31, 2020 EaR (*1) VaR (*2) Woori Card Co., Ltd. 106,645 157,085 Woori Financial Capital Co., Ltd. 3,701 12,550 Woori Investment Bank Co., Ltd. 1,479 5,005 Woori Asset Trust Co., Ltd. 3,211 398 Woori Asset Management Corp. 64 493 Woori Private Equity Asset Management Co., Ltd. 193 37 Woori Global Asset Management Co., Ltd. 119 318 (*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 ( |
Operating segments
Operating segments | 12 Months Ended |
Dec. 31, 2021 | |
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 organization The Group’s reporting segments consist of banking, credit card, capital, investment banking and other sectors, and the composition of such reporting segments was divided based on internal report data periodically reviewed by the management to evaluate the performance of the segment and make decisions on the resources to be distributed. Operational scope Banking Loans/deposits and relevant services for Woori Bank subsidiaries’ customers Credit card Credit card, cash services, card loans and accompanying business of Woori Card Co., Ltd. Capital Installments, loans including lease financing, and accompanying business of Woori Financial Capital Co., Ltd. Investment Banking Securities operation, sale of financial instruments, project financing and other related activities for comprehensive financing of Woori Investment bank Co., Ltd. Others Woori Financial Group Inc.,Woori Asset Trust Co., Ltd., Woori Asset Management Corp., Ltd., Woori Savings Bank., Woori Credit Information Co., Ltd., Woori Fund Services Inc., Woori Private Equity Asset Management Co., Ltd., Woori Global Asset Management Co., Ltd., Woori FIS Co., Ltd. and Woori Finance Research Institute, (2) The composition of each organization’s sectors for the years ended December 31, 2019, 2020 and 2021 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2019 Banking Credit card Investment banking Others (*1) Sub-total Adjustments (*2) Total Net Interest income 4,583,386 553,956 54,077 2,290 5,193,709 699,997 5,893,706 Non-interest 1,557,247 31,842 33,539 957,880 2,580,508 (1,533,917 ) 1,046,591 Impairment losses due to credit loss (32,621 ) (259,604 ) (572 ) (538 ) (293,335 ) (80,909 ) (374,244 ) General and administrative expense (3,478,535 ) (190,062 ) (31,183 ) (323,528 ) (4,023,308 ) 257,231 (3,766,077 ) Net operating income (expense) 2,629,477 136,132 55,861 636,104 3,457,574 (657,598 ) 2,799,976 Share of gain (loss) of associates (43,102 ) — — (301 ) (43,403 ) 127,400 83,997 Other non-operating income (expense) (108,246 ) 13,889 (3,501 ) (1,244 ) (99,102 ) (61,822 ) (160,924 ) Non-operating (151,348 ) 13,889 (3,501 ) (1,545 ) (142,505 ) 65,578 (76,927 ) Net income (expense) before tax 2,478,129 150,021 52,360 634,559 3,315,069 (592,020 ) 2,723,049 Tax income (expense) (616,110 ) (35,825 ) 998 (1,294 ) (652,231 ) (33,222 ) (685,453 ) Net income (loss) 1,862,019 114,196 53,358 633,265 2,662,838 (625,242 ) 2,037,596 Total assets 347,819,743 10,087,342 3,398,960 21,681,769 382,987,814 (21,007,090 ) 361,980,724 Investment in associate 3,161,729 — 775 19,880,642 23,043,146 (22,236,786 ) 806,360 Other assets 344,658,014 10,087,342 3,398,185 1,801,127 359,944,668 1,229,696 361,174,364 Total liabilities 323,592,850 8,299,175 3,031,622 1,225,422 336,149,069 339,323 336,488,392 (*1) Other segments include gains and losses from Woori Financial Group Inc., Woori Asset Management Corp., Woori Credit Information Co., Ltd., Woori Fund Service Inc., Woori Private Equity Asset Management Co., Ltd., Woori Global Asset Management Co., Ltd., Woori FIS Co., Ltd. and Woori Finance Research Co., Ltd., (*2) Adjustments were made for the presentation of profit or loss in accordance with the Accounting Standards from the reporting segments in accordance with the Managerial Accounting Standards. For the year ended December 31, 2020 Banking (*1) Credit card Investment banking Others (*2) Sub-total Adjustments (*3) Total Net Interest income 4,545,155 564,461 78,302 69,188 5,257,106 741,406 5,998,512 Non-interest 1,423,286 3,648 34,497 1,071,852 2,533,283 (1,710,849 ) 822,434 Impairment losses due to credit loss (512,008 ) (195,816 ) (4,146 ) (43,660 ) (755,630 ) (28,741 ) (784,371 ) General and administrative expense (3,545,186 ) (207,301 ) (39,039 ) (416,595 ) (4,208,121 ) 251,940 (3,956,181 ) Net operating income (expense) 1,911,247 164,992 69,614 680,785 2,826,638 (746,244 ) 2,080,394 Share (6,895 ) — 170 1,255 (5,470 ) 106,547 101,077 Other non-operating (50,132 ) (5,569 ) (945 ) (484 ) (57,130 ) (123,090 ) (180,220 ) Non-operating (57,027 ) (5,569 ) (775 ) 771 (62,600 ) (16,543 ) (79,143 ) Net income (expense) before tax 1,854,220 159,423 68,839 681,556 2,764,038 (762,787 ) 2,001,251 Tax income (expense) (437,288 ) (39,193 ) (5,902 ) (29,372 ) (511,755 ) 25,753 (486,002 ) Net income (loss) 1,416,932 120,230 62,937 652,184 2,252,283 (737,034 ) 1,515,249 Total assets 374,120,064 11,366,596 4,332,474 31,872,690 421,691,824 (22,610,807 ) 399,081,017 Investment 3,382,650 — 2,494 21,586,506 24,971,650 (23,978,359 ) 993,291 Other 370,737,414 11,366,596 4,329,980 10,286,184 396,720,174 1,367,552 398,087,726 Total liabilities 348,706,682 9,312,986 3,803,594 9,606,742 371,430,004 925,168 372,355,172 (*1) The banking sector includes the Bank and overseas subsidiaries. (*2) Other segments include gains and losses from Woori Financial Group Inc., Woori Financial Capital Co., Ltd. (Profit or loss for 3 months after incorporation into subsidiary), Woori Asset Trust Co., Ltd., Woori Asset Management Corp., Woori Credit Information Co., Ltd., Woori Fund Service Inc., Woori Private Equity Asset Management Co., Ltd., Woori Global Asset Management Co., Ltd., Woori FIS Co., Ltd. and Woori Finance Research Co., Ltd. (*3) Adjustments were made for the presentation of profit or loss in accordance with the Accounting Standards from the reporting segments in accordance with the Managerial Accounting Standards. For the year ended December 31, 2021 Banking (*1) Credit card Capital Investment banking Others (*2) Sub-total Adjustments (*3) Total Net interest income 5,158,078 606,506 315,600 108,321 29,515 6,218,020 767,701 6,985,721 Non-interest 1,661,903 63,839 95,297 49,419 1,111,422 2,981,880 (1,623,603 ) 1,358,277 Impairment losses due to credit loss (140,574 ) (164,097 ) (122,089 ) (1,885 ) (19,601 ) (448,246 ) (88,592 ) (536,838 ) General and administrative expense (3,606,715 ) (225,175 ) (99,048 ) (51,490 ) (440,601 ) (4,423,029 ) 275,618 (4,147,411 ) Net operating income(expense) 3,072,692 281,073 189,760 104,365 680,735 4,328,625 (668,876 ) 3,659,749 Share of gain (loss) of associates 60,049 — 1,000 750 4,390 66,189 (3,993 ) 62,196 Other non-operating (19,654 ) (7,936 ) (16,943 ) (660 ) (1,071 ) 15,932 11,364 (34,900 ) Non-operating 40,395 (7,936 ) (15,943 ) 90 3,319 82,121 7,371 27,296 Net income (expense) before tax 3,113,087 273,137 173,817 104,455 684,054 4,410,746 (661,505 ) 3,687,045 Tax expense (773,073 ) (72,411 ) (33,238 ) (24,531 ) (16,799 ) (937,156 ) (4,714 ) (924,766 ) Net income (loss) 2,340,014 200,726 140,579 79,924 667,255 3,473,590 (666,219 ) 2,762,279 Total assets 415,976,627 14,116,832 10,259,868 5,159,742 25,627,649 471,140,718 (23,956,847 ) 447,183,871 Investment in associate 858,706 — 12,403 8,846 22,165,895 23,045,850 (21,710,683 ) 1,335,167 Other assets 415,117,921 14,116,832 10,247,465 5,150,896 3,461,754 448,094,868 (2,246,164 ) 445,848,704 Total liabilities 391,360,200 11,858,065 9,073,104 4,559,856 3,284,269 420,090,402 (1,756,726 ) 418,378,768 (*1) The banking sector includes the Bank and their consolidated subsidiaries (such as overseas subsidiaries). (*2) Other segments include Woori Financial Group Inc., Woori Asset Trust Co., Ltd., Woori Asset Management Corp., Woori Savings Bank, Woori Credit Information Co., Ltd., Woori Fund Service Inc., Woori Private Equity Asset Management Co., Ltd., Woori Global Asset Management Co., Ltd., Woori FIS Co., Ltd. and Woori Finance Research Institute. (*3) Adjustments were made for the presentation of profit or loss in accordance with the Accounting Standards from the reporting segments in accordance with the Managerial Accounting Standards. (3) Operating profit or loss from external customers for the years ended December 31, 2019, 2020 and 2021 are as follows (Unit: Korean Won in millions): For the years ended December 31 Details 2019 2020 2021 Domestic 2,500,504 1,869,516 3,288,341 Foreign 299,472 210,878 371,408 Total 2,799,976 2,080,394 3,659,749 (4) Major non-current Details (*) December 31, 0 (*) December 31, 1 (*) Domestic 5,026,161 5,201,838 Foreign 433,869 482,930 Total 5,460,030 5,684,768 (*) Major non-current (5) Information about major customers The Group does not have any single customer that generates 10% or more of the Group’s total revenue for the years ended December 31, 2020 and 2021. |
Statements of cash flows
Statements of cash flows | 12 Months Ended |
Dec. 31, 2021 | |
Cash and cash equivalents [abstract] | |
Statements of cash flows | 6. STATEMENTS OF CASH FLOWS (1) Details of cash and cash equivalents are as follows (Unit: Korean Won in millions): December 31, December 31, Cash 1,611,282 1,742,449 Foreign currencies 514,565 503,205 Demand deposits 7,314,353 5,161,529 Fixed deposits 550,783 158,635 Total 9,990,983 7,565,818 (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 December 31 2019 2020 2021 Changes in other comprehensive income related to valuation of financial assets at FVTOCI (14,141 ) 59,360 (150,327 ) Changes in other comprehensive income related to valuation of investments in joint ventures and associates 613 (2,298 ) 1,526 Changes in other comprehensive income related to valuation loss on cash flow hedge (1,823 ) 4,420 7,107 Changes in financial assets at FVTOCI due to debt-for-equity 96,527 3,575 79 Changes in the investments in joint ventures and associates due to the transfer of assets held-for-sale 651 (50,411 ) (52 ) Changes in financial assets at FVTPL and assets held-for-sale — (2,385 ) — Transfer from property, plant and equipment to assets held-for-sale (95 ) — (12,852 ) Transfer of investment properties and premises and equipment 166,892 30,431 6,095 Changes in account payables related to intangible assets 29,705 (11,639 ) (11,640 ) Changes in right-of-use 692,103 222,587 150,644 Comprehensive stock exchange 581,609 — 64,301 Changes in other comprehensive income related to foreign operation translation — (153,472 ) 246,808 (3) Adjustments of liabilities from financing activities in current and prior year are as follows (Unit: Korean Won in millions): For the year ended December 31, 2020 Beginning Cash flow Not involving cash inflows and outflows Ending Foreign Variation of Business Combination Others(*) Borrowings 18,998,920 2,033,851 (586,215 ) — 298,854 56 20,745,466 Debentures 30,858,055 913,836 (290,041 ) 58,861 5,980,746 (42,099 ) 37,479,358 Lease liabilities 419,045 (204,794 ) (5,141 ) — 3,751 194,570 407,431 Other liabilities 23,909 3,971 — — — (1,526 ) 26,354 Total 50,299,929 2,746,864 (881,397 ) 58,861 6,283,351 151,001 58,658,609 (*) The change in lease liabilities due to the new contract includes 231,325 million Won. For the year ended December 31, 2021 Beginning Cash flow Not involving cash inflows and outflows Ending Foreign Variation of items Others (*) Borrowings 20,745,466 3,199,712 804,649 — 5,632 24,755,459 Debentures 37,479,358 6,893,661 392,077 (104,306 ) (6,926 ) 44,653,864 Lease liabilities 407,431 (177,593 ) 10,950 — 102,425 343,213 Other liabilities 26,354 14,173 — — (13,620 ) 26,907 Total 58,658,609 9,929,953 1,207,676 (104,306 ) 87,511 69,779,443 (*) The change in lease liabilities due to the new contract includes 189,660 million Won. |
Financial Assets at FVTPL
Financial Assets at FVTPL | 12 Months Ended |
Dec. 31, 2021 | |
Financial assets at fair value through profit or loss [abstract] | |
Financial assets at FVTPL | 7. FINANCIAL ASSETS AT FVTPL (1) Details of financial assets at FVTPL as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, December 31, Financial assets at fair value through profit or loss measured at fair value 14,762,941 13,497,234 (2) Financial assets at fair value through profit or loss measured at fair value as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, December 31, Deposits: Gold banking asset 48,796 65,072 Securities: Debt securities Korean treasury and government agencies 1,020,418 995,713 Financial institutions 873,031 925,474 Corporates 761,681 751,636 Others 231,967 70,416 Equity securities 485,793 329,864 Capital contributions 865,685 1,287,723 Beneficiary certificates 2,812,558 3,504,547 Others 84,979 94,673 Sub-total 7,136,112 7,960,046 Loans 676,291 667,467 Derivatives assets 6,901,742 4,803,131 Other financial assets — 1,518 Total 14,762,941 13,497,234 The Group does not have financial assets at fair value through profit or loss designated as upon initial recognition as of December 31, 2020 and 2021. |
Financial Assets at FVTOCI
Financial Assets at FVTOCI | 12 Months Ended |
Dec. 31, 2021 | |
Financial assets at fair value through other comprehensive income [Abstract] | |
Financial Assets at FVTOCI | 8. FINANCIAL ASSETS AT FVTOCI (1) Details of financial assets at FVTOCI as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, December 31, Debt securities: Korean treasury and government agencies 2,922,671 4,728,085 Financial institutions 17,996,660 22,909,615 Corporates 3,896,744 5,091,035 Bond denominated in foreign currencies 4,031,721 5,299,707 Securities loaned 100,345 98,535 Sub-total 28,948,141 38,126,977 Equity securities 1,080,788 992,812 Total 30,028,929 39,119,789 (2) Details of equity securities designated as financial assets at FVTOCI as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): Purpose of acquisition December 31, December 31, Purpose of acquisition Investment for strategic business partnership purpose 778,657 796,835 Debt-equity swap 302,090 195,971 Others 41 6 Insurance for mutual aid association etc. Total 1,080,788 992,812 (3) Changes in the allowance for credit losses and gross carrying amount of financial assets at FVTOCI are as follows (Unit: Korean Won in millions): 1) Allowance for credit losses For the year ended December 31, 2019 Stage 1 Stage 2 Stage 3 Total Beginning balance (5,939 ) (238 ) — (6,177 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net provision of allowance for credit losses (3,297 ) — — (3,297 ) Disposal 615 238 — 853 Others (*) 52 — — 52 Ending balance (8,569 ) — — (8,569 ) (*) Others consist of foreign currencies translation, etc.. For the year ended December 31, 2020 Stage 1 Stage 2 Stage 3 Total Beginning balance (8,569 ) — — (8,569 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net provision of allowance for credit losses (1,529 ) — — (1,529 ) Disposal 764 — — 764 Others (*) (297 ) — — (297 ) Ending balance (9,631 ) — — (9,631 ) (*) Others consist of foreign currencies translation, etc. For the year ended December 31, 2021 Stage 1 Stage 2 Stage 3 Total Beginning balance (9,631 ) — — (9,631 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net provision of allowance for credit losses (4,909 ) — — (4,909 ) Disposal 2,378 — — 2,378 Others (*) 16 — — 16 Ending balance (12,146 ) — — (12,146 ) (*) Others consist of foreign currencies translation, etc. 2) Gross carrying amount For the year ended December 31, 2019 Stage 1 Stage 2 Stage 3 Total Beginning balance 17,087,096 25,153 — 17,112,249 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Acquisition 23,774,375 — — 23,774,375 Disposal / Recovery (14,224,358 ) (25,000 ) — (14,249,358 ) Gain (loss) on valuation 48,956 (153 ) — 48,803 Amortization based on effective interest method 14,629 — — 14,629 Business combination 24,985 — — 24,985 Others (*) 69,478 — — 69,478 Ending balance 26,795,161 — — 26,795,161 (*) Others consist of foreign currencies translation, etc. For the year ended December 31, 2020 Stage 1 Stage 2 Stage 3 Total Beginning balance 26,795,161 — — 26,795,161 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Acquisition 22,970,010 — — 22,970,010 Disposal / Recovery (20,530,076 ) — — (20,530,076 ) Gain (loss) on valuation 17,957 — — 17,957 Amortization based on effective interest method (12,545 ) — — (12,545 ) Others (*) (292,366 ) — — (292,366 ) Ending balance 28,948,141 — — 28,948,141 (*) Others consist of foreign currencies translation, etc. For the year ended December 31, 2021 Stage 1 Stage 2 Stage 3 Total Beginning balance 28,948,141 — — 28,948,141 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Acquisition 30,522,426 — — 30,522,426 Disposal / Recovery (21,533,360 ) — — (21,533,360 ) Gain (loss) on valuation (213,517 ) — — (213,517 ) Amortization based on effective interest method 31,641 — — 31,641 Others (*) 371,646 — — 371,646 Ending balance 38,126,977 — — 38,126,977 (*) Others consist of foreign currencies translation, etc. (4) During the years ended December 31, 2020 and 2021, the Group sold its equity securities, designated as financial assets at FVTOCI in accordance with decision of disposal by the creditors, and the fair values at disposal dates were 2,848 million Won and 138,511 million Won, respectively and cumulative losses at disposal dates were 3,665 million Won and 3,062 million Won, respectively. |
Securities at Amortized Cost
Securities at Amortized Cost | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of securities at amortised cost [Abstract] | |
Securities at Amortized Cost | 9. SECURITIES AT AMORTIZED COST (1) Details of securities at amortized cost as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, December 31, Korean treasury and government agencies 6,947,495 8,882,500 Financial institutions 4,843,534 1,835,947 Corporates 4,726,075 5,818,646 Bond denominated in foreign currencies 508,301 554,416 Allowance for credit losses (4,566 ) (5,235 ) Total 17,020,839 17,086,274 (2) Changes in the allowance for credit losses and gross carrying amount of securities at amortized cost are as follows (Unit: Korean Won in millions): 1) Allowance for credit losses For the year ended December 31, 2019 Stage 1 Stage 2 Stage 3 Total Beginning balance (6,924 ) — — (6,924 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net reversal of allowance for credit losses 1,415 — — 1,415 Others (*) (2 ) — — (2 ) Ending balance (5,511 ) — — (5,511 ) (*) Others consist of foreign currencies translation, etc. For the year ended December 31, 2020 Stage 1 Stage 2 Stage 3 Total Beginning balance (5,511 ) — — (5,511 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net reversal of allowance for credit losses 934 — — 934 Others (*) 11 — — 11 Ending balance (4,566 ) — — (4,566 ) (*) Others consist of foreign currencies translation, etc. For the year ended December 31, 2021 Stage 1 Stage 2 Stage 3 Total Beginning balance (4,566 ) — — (4,566 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net provision of allowance for credit losses (664 ) — — (664 ) Others (*) (5 ) — — (5 ) Ending balance (5,235 ) — — (5,235 ) (*) Others consist of foreign currencies translation, etc. 2) Gross carrying amount For the year ended December 31, 2019 Stage 1 Stage 2 Stage 3 Total Beginning balance 22,939,484 — — 22,939,484 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Acquisition 6,092,078 — — 6,092,078 Disposal / Recovery (8,709,947 ) — — (8,709,947 ) Amortization based on effective interest method (3,286 ) — — (3,286 ) Others (*) 7,721 — — 7,721 Ending balance 20,326,050 — — 20,326,050 (*) Others consist of foreign currencies translation, etc. For the year ended December 31, 2020 Stage 1 Stage 2 Stage 3 Total Beginning balance 20,326,050 — — 20,326,050 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Acquisition 2,380,448 — — 2,380,448 Disposal / Recovery (5,659,365 ) — — (5,659,365 ) Amortization based on effective interest method (396 ) — — (396 ) Others (*) (21,332 ) — — (21,332 ) Ending balance 17,025,405 — — 17,025,405 (*) Others consist of foreign currencies translation, etc. For the year ended December 31, 2021 Stage 1 Stage 2 Stage 3 Total Beginning balance 17,025,405 — — 17,025,405 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Acquisition 6,435,692 — — 6,435,692 Disposal / Recovery (6,425,408 ) — — (6,425,408 ) Amortization based on effective interest method 14,810 — — 14,810 Others (*) 41,010 — — 41,010 Ending balance 17,091,509 — — 17,091,509 (*) Others consist of foreign currencies translation, etc. |
Loans and other financial asset
Loans and other financial assets at amortized cost | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of loans and other financial assets at amortized cost [Abstract] | |
Loans And Other Financial Assets at Amortized Cost | 10. LOANS AND OTHER FINANCIAL ASSETS AT AMORTIZED COST (1) Details of loans and other financial assets at amortized cost as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, December 31, Due from banks 9,863,160 15,914,139 Loans 302,794,182 336,799,510 Other financial assets 7,448,736 9,219,223 Total 320,106,078 361,932,872 (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”) 6,519,226 10,219,055 Due from depository banks 84,195 159,264 Due from non-depository 266 14,146 Due from the Korea Exchange 227 54 Others 172,914 191,501 Allowance for credit losses (1,576 ) (2,452 ) Sub-total 6,775,252 10,581,568 Due from banks in foreign currencies: Due from banks on demand 1,608,126 3,615,983 Due from banks on time 296,489 205,351 Others 1,186,083 1,514,819 Allowance for credit losses (2,790 ) (3,582 ) Sub-total 3,087,908 5,332,571 Total 9,863,160 15,914,139 (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 6,519,226 Reserve deposits under the BOK Act Due from KSFC KB Securities Co. Ltd. 227 Futures trading margin Others Korea Federation of Savings Banks and others 89,562 Guarantees, mortgage of domestic exchange transactions and others Sub-total 6,609,015 Due from banks in foreign currencies: Due from banks on demand The BOK and others 1,544,492 Reserve deposits under the BOK Act and others Due from banks on time National Bank Cambodia 54 Reserve deposits and others Others Korea Investment & Securities and others 1,180,570 Overseas futures and options trade deposits and others Sub-total 2,725,116 Total 9,334,131 Counterparty December 31, Reason of restriction Due from banks in local currency: Due from BOK The BOK 10,219,055 Reserve deposits under the BOK Act Due from KSFC KB Securities Co. Ltd. 54 Futures trading margin Others Korea Federation of Savings Banks and others 75,897 Guarantees, mortgage of domestic exchange transactions and others Sub-total 10,295,006 Due from banks in foreign currencies: Due from banks on demand The BOK and others 3,549,695 Reserve deposits under the BOK Act and others Due from banks on time National Bank Cambodia 237 Reserve deposits and others Others Korea Investment & Securities and others 1,509,471 Overseas futures and options trade deposits and others Sub-total 5,059,403 Total 15,354,409 (4) Changes in the allowance for credit losses and gross carrying amount of due from banks are as follows (Unit: Korean Won in millions): 1) Allowance for credit losses For the year ended December 31, 2019 Stage 1 Stage 2 Stage 3 Total Beginning balance (5,387 ) — — (5,387 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Reversal of allowance for credit losses 544 — — 544 Others (*) (17 ) — — (17 ) Ending balance (4,860 ) — — (4,860 ) (*) Others consist of foreign currencies translation, etc. For the year ended December 31, 2020 Stage 1 Stage 2 Stage 3 Total Beginning balance (4,860 ) — — (4,860 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Reversal of allowance for credit losses 315 — — 315 Others (*) 179 — — 179 Ending balance (4,366 ) — — (4,366 ) (*) Others consist of foreign currencies translation, etc. For the year ended December 31, 2021 Stage 1 Stage 2 Stage 3 Total Beginning balance (4,366 ) — — (4,366 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Provision of allowance for credit losses (1,477 ) — — (1,477 ) Others (*) (191 ) — — (191 ) Ending balance (6,034 ) — — (6,034 ) (*) Others consist of foreign currencies translation, etc. 2) Gross carrying amount For the year ended December 31, 2019 Stage 1 Stage 2 Stage 3 Total Beginning balance 14,156,399 — — 14,156,399 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net increase 313,991 — — 313,991 Business combination 35,910 — — 35,910 Others (*) (9,217 ) — — (9,217 ) Ending balance 14,497,083 — — 14,497,083 (*) Others consist of foreign currencies translation, etc. For the year ended December 31, 2020 Stage 1 Stage 2 Stage 3 Total Beginning balance 14,497,083 — — 14,497,083 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net decrease (4,759,053 ) — — (4,759,053 ) Business combination 129,825 — — 129,825 Others (*) (329 ) — — (329 ) Ending balance 9,867,526 — — 9,867,526 (*) Others consist of foreign currencies translation, etc. For the year ended December 31, 2021 Stage 1 Stage 2 Stage 3 Total Beginning balance 9,867,526 — — 9,867,526 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net increase 5,977,989 — — 5,977,989 Others (*) 74,658 — — 74,658 Ending balance 15,920,173 — — 15,920,173 (*) Others consist of foreign currencies translation, etc. (5) Details of loans are as follows (Unit: Korean Won in millions): December 31, December 31, Loans in local currency 249,264,947 273,283,542 Loans in foreign currencies (*) 20,025,092 24,508,250 Domestic banker’s usance 2,240,830 3,403,021 Credit card accounts 8,542,619 9,757,115 Bills bought in foreign currencies 5,763,427 5,310,080 Bills bought in local currency 133,650 265,275 Factoring receivables 38,017 17,406 Advances for customers on guarantees 31,300 26,766 Private placement bonds 353,585 519,150 Securitized loans 2,561,914 2,874,480 Call loans 2,352,034 3,481,219 Bonds purchased under resale agreements 10,145,749 10,332,858 Financial lease receivables 586,216 1,173,751 Installment financial bond 1,925,493 2,882,396 Others 380 159 Loan origination costs and fees 744,109 858,051 Discounted present value (6,656 ) (7,299 ) Allowance for credit losses (1,908,524 ) (1,886,710 ) Total 302,794,182 336,799,510 (*) It includes 50,088 million Won in collateral assets related to the sale of bonds under repurchase agreements at the end of the previous year. (6) Changes in the allowance for credit losses of loans are as follows (Unit: Korean Won in millions): For the year ended December 31, 2019 Consumers Corporates Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance (114,509 ) (48,368 ) (129,906 ) (348,311 ) (349,619 ) (527,673 ) Transfer to 12-month (14,430 ) 13,661 769 (58,537 ) 49,884 8,653 Transfer to lifetime expected credit losses 14,022 (15,332 ) 1,310 8,215 (20,473 ) 12,258 Transfer to credit-impaired financial assets 8,603 10,312 (18,915 ) 3,308 17,852 (21,160 ) Net reversal (provision) of allowance for credit losses 21,802 (38,203 ) (146,204 ) 86,565 6,855 (75,392 ) Recovery — — (61,914 ) — — (66,359 ) Charge-off — — 217,382 — — 222,537 Disposal — — 2,763 — 1 42,095 Interest income from impaired loans — — 9,647 — — 17,887 Business combination — — — (9 ) (2,008 ) (3,150 ) Others (636 ) (32 ) (520 ) (15,489 ) (210 ) 259 Ending balance (85,148 ) (77,962 ) (125,588 ) (324,258 ) (297,718 ) (390,045 ) For the year ended December 31, 2019 Credit card accounts Total Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance (64,787 ) (78,131 ) (116,772 ) (527,607 ) (476,118 ) (774,351 ) Transfer to 12-month (15,712 ) 15,231 481 (88,679 ) 78,776 9,903 Transfer to lifetime expected credit losses 6,031 (6,317 ) 286 28,268 (42,122 ) 13,854 Transfer to credit-impaired financial assets 98,647 94,116 (192,763 ) 110,558 122,280 (232,838 ) Net reversal (provision) of allowance for credit losses (98,888 ) (96,434 ) (40,343 ) 9,479 (127,782 ) (261,939 ) Recovery — — (60,365 ) — — (188,638 ) Charge-off — — 281,420 — — 721,339 Disposal — — — — 1 44,858 Interest income from impaired loans — — — — — 27,534 Business combination — — — (9 ) (2,008 ) (3,150 ) Others (17 ) 2 14 (16,142 ) (240 ) (247 ) Ending balance (74,726 ) (71,533 ) (128,042 ) (484,132 ) (447,213 ) (643,675 ) For the year ended December 31, 2020 Consumers Corporates Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance (85,148 ) (77,962 ) (125,588 ) (324,258 ) (297,718 ) (390,045 ) Transfer to 12-month (20,839 ) 20,050 789 (29,117 ) 25,067 4,050 Transfer to lifetime expected credit losses 9,137 (10,800 ) 1,663 19,259 (48,184 ) 28,925 Transfer to credit-impaired financial assets 3,549 4,913 (8,462 ) 3,607 10,349 (13,956 ) Net reversal (provision) of allowance for credit losses 5,142 (10,042 ) (125,923 ) 2,831 (200,024 ) (271,265 ) Recovery — — (71,277 ) — — (66,179 ) Charge-off — — 181,713 — — 243,634 Disposal — — 5,640 — 13 47,106 Interest income from impaired loans — — 10,790 — — 14,945 Business combination (31,327 ) (15,129 ) (72,040 ) (13,703 ) (18,164 ) (24,364 ) Others (2,041 ) 4,507 (2,998 ) 13,921 6,754 38,405 Ending balance (121,527 ) (84,463 ) (205,693 ) (327,460 ) (521,907 ) (388,744 ) For the year ended December 31, 2020 Credit card accounts Total Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance (74,726 ) (71,533 ) (128,042 ) (484,132 ) (447,213 ) (643,675 ) Transfer to 12-month (14,978 ) 14,755 223 (64,934 ) 59,872 5,062 Transfer to lifetime expected credit losses 9,341 (9,742 ) 401 37,737 (68,726 ) 30,989 Transfer to credit-impaired financial assets 627 1,137 (1,764 ) 7,783 16,399 (24,182 ) Net reversal (provision) of allowance for credit losses 17,022 (25,098 ) (179,872 ) 24,995 (235,164 ) (577,060 ) Recovery — — (66,026 ) — — (203,482 ) Charge-off — — 245,890 — — 671,237 Disposal — — 23,653 — 13 76,399 Interest income from impaired loans — — — — — 25,735 Business combination — — — (45,030 ) (33,293 ) (96,404 ) Others 2 — — 11,882 11,261 35,407 Ending balance (62,712 ) (90,481 ) (105,537 ) (511,699 ) (696,851 ) (699,974 ) For the year ended December 31, 2021 Consumers Corporates Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance (121,527 ) (84,463 ) (205,693 ) (327,460 ) (521,907 ) (388,744 ) Transfer to 12-month (23,328 ) 19,736 3,592 (80,803 ) 49,902 30,901 Transfer to lifetime expected credit losses 9,201 (11,466 ) 2,265 14,106 (35,706 ) 21,600 Transfer to credit-impaired financial assets 2,752 9,918 (12,670 ) 1,562 18,741 (20,303 ) Net reversal (provision) of allowance for credit losses (4,456 ) (32,764 ) (130,424 ) 49,562 (91,981 ) (168,323 ) Recovery — — (75,058 ) — — (55,108 ) Charge-off — — 174,012 — — 233,507 Disposal — — 14,890 — — 64,078 Interest income from impaired loans — — 13,743 — — 12,672 Others 838 1,435 8,726 (19,733 ) 4,211 18,487 Ending balance (136,520 ) (97,604 ) (206,617 ) (362,766 ) (576,740 ) (251,233 ) For the year ended December 31, 2021 Credit card accounts Total Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance (62,712 ) (90,481 ) (105,537 ) (511,699 ) (696,851 ) (699,974 ) Transfer to 12-month (26,846 ) 26,581 265 (130,977 ) 96,219 34,758 Transfer to lifetime expected credit losses 7,497 (8,151 ) 654 30,804 (55,323 ) 24,519 Transfer to credit-impaired financial assets 356 925 (1,281 ) 4,670 29,584 (34,254 ) Net reversal (provision) of allowance for credit losses 12,894 (44,363 ) (145,336 ) 58,000 (169,108 ) (444,083 ) Recovery — — (65,620 ) — — (195,786 ) Charge-off — — 220,352 — — 627,871 Disposal — — 25,576 — — 104,544 Interest income from impaired loans — — — — — 26,415 Others (3 ) — — (18,898 ) 5,646 27,213 Ending balance (68,814 ) (115,489 ) (70,927 ) (568,100 ) (789,833 ) (528,777 ) (7) Changes in the gross carrying amount of loans are as follows (Unit: Korean Won in millions): For the year ended December 31, 2019 Consumers Corporates Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance 110,619,242 6,028,009 391,494 131,453,727 5,031,258 1,020,658 Transfer to 12-month 2,626,998 (2,614,767 ) (12,231 ) 1,560,734 (1,550,164 ) (10,570 ) Transfer to lifetime expected credit losses (8,238,499 ) 8,256,600 (18,101 ) (2,306,186 ) 2,341,881 (35,695 ) Transfer to credit-impaired financial assets (152,128 ) (104,129 ) 256,257 (252,249 ) (142,902 ) 395,151 Charge-off — — (217,382 ) — — (222,537 ) Disposal — (55 ) (67,924 ) — (70 ) (161,318 ) Net increase (decrease) 6,397,570 883,149 85,561 3,985,392 (809,566 ) (266,432 ) Business combination 100 — — 2,561 40,161 21,000 Ending balance 111,253,283 12,448,807 417,674 134,443,979 4,910,598 740,257 For the year ended December 31, 2019 Credit card accounts Total Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance 6,861,844 982,772 208,989 248,934,813 12,042,039 1,621,141 Transfer to 12-month 258,674 (258,166 ) (508 ) 4,446,406 (4,423,097 ) (23,309 ) Transfer to lifetime expected credit losses (307,100 ) 307,450 (350 ) (10,851,785 ) 10,905,931 (54,146 ) Transfer to credit-impaired financial assets (124,675 ) (104,712 ) 229,387 (529,052 ) (351,743 ) 880,795 Charge-off — — (281,420 ) — — (721,339 ) Disposal — — — — (125 ) (229,242 ) Net increase (decrease) 589,724 (41,512 ) 72,269 10,972,686 32,071 (108,602 ) Business combination — — — 2,661 40,161 21,000 Ending balance 7,278,467 885,832 228,367 252,975,729 18,245,237 1,386,298 For the year ended December 31, 2020 Consumers Corporates Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance 111,253,283 12,448,807 417,674 134,443,979 4,910,598 740,257 Transfer to 12-month 4,564,471 (4,552,400 ) (12,071 ) 1,160,399 (1,146,756 ) (13,643 ) Transfer to lifetime expected credit losses (5,365,577 ) 5,388,064 (22,487 ) (3,983,614 ) 4,023,106 (39,492 ) Transfer to credit-impaired financial assets (96,197 ) (103,016 ) 199,213 (357,386 ) (120,491 ) 477,877 Charge-off — — (181,713 ) — — (243,634 ) Disposal — — (55,349 ) — (398 ) (163,644 ) Net increase (decrease) 13,326,560 (1,289,910 ) 54,503 14,804,391 (696,164 ) (64,490 ) Business combination 2,307,498 125,166 137,336 3,507,163 358,846 24,678 Ending balance 125,990,038 12,016,711 537,106 149,574,932 7,328,741 717,909 For the year ended December 31, 2020 Credit card accounts Total Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance 7,278,467 885,832 228,367 252,975,729 18,245,237 1,386,298 Transfer to 12-month 257,399 (257,144 ) (255 ) 5,982,269 (5,956,300 ) (25,969 ) Transfer to lifetime expected credit losses (454,230 ) 454,709 (479 ) (9,803,421 ) 9,865,879 (62,458 ) Transfer to credit-impaired financial assets (26,947 ) (10,796 ) 37,743 (480,530 ) (234,303 ) 714,833 Charge-off — — (245,890 ) — — (671,237 ) Disposal — — (43,781 ) — (398 ) (262,774 ) Net increase (decrease) 224,286 5,619 204,369 28,355,237 (1,980,455 ) 194,382 Business combination — — — 5,814,661 484,012 162,014 Ending balance 7,278,975 1,078,220 180,074 282,843,945 20,423,672 1,435,089 For the year ended December 31, 2021 Consumers Corporates Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance 125,990,038 12,016,711 537,106 149,574,932 7,328,741 717,909 Transfer to 12-month 4,377,247 (4,357,347 ) (19,900 ) 1,610,541 (1,575,157 ) (35,384 ) Transfer to lifetime expected credit losses (6,104,417 ) 6,127,477 (23,060 ) (3,627,800 ) 3,670,808 (43,008 ) Transfer to credit-impaired financial assets (108,717 ) (79,746 ) 188,463 (244,236 ) (132,986 ) 377,222 Charge-off — — (174,012 ) — — (233,507 ) Disposal — — (48,795 ) — — (187,571 ) Net increase (decrease) 10,985,534 (206,312 ) 40,167 23,481,818 (833,127 ) (53,929 ) Ending balance 135,139,685 13,500,783 499,969 170,795,255 8,458,279 541,732 For the year ended December 31, 2021 Credit card accounts Total Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance 7,278,975 1,078,220 180,074 282,843,945 20,423,672 1,435,089 Transfer to 12-month 359,101 (358,776 ) (325 ) 6,346,889 (6,291,280 ) (55,609 ) Transfer to lifetime expected credit losses (513,635 ) 514,369 (734 ) (10,245,852 ) 10,312,654 (66,802 ) Transfer to credit-impaired financial assets (17,416 ) (9,253 ) 26,669 (370,369 ) (221,985 ) 592,354 Charge-off — — (220,352 ) — — (627,871 ) Disposal — — (56,520 ) — — (292,886 ) Net increase (decrease) 1,132,278 170,579 187,263 35,599,630 (868,860 ) 173,501 Ending balance 8,239,303 1,395,139 116,075 314,174,243 23,354,201 1,157,776 (8) Details of other financial assets are as follows (Unit: Korean Won in millions): December 31, December 31, Cash Management Account asset (CMA asset) 210,000 140,000 Receivables 3,809,929 6,852,139 Accrued income 864,107 1,049,857 Telex and telephone subscription rights and refundable deposits 936,878 870,707 Domestic exchange settlement debit 1,518,775 82,555 Other assets 192,342 290,746 Allowance for credit losses (83,295 ) (66,781 ) Total 7,448,736 9,219,223 (9) Changes in the allowances for credit losses on other financial assets are as follows (Unit: Korean Won in millions): For the year ended December 31, 2019 Stage 1 Stage 2 Stage 3 Total Beginning balance (3,469 ) (1,971 ) (62,501 ) (67,941 ) Transfer to 12-month (207 ) 198 9 — Transfer to lifetime expected credit losses 116 (43 ) (73 ) — Transfer to credit-impaired financial assets 19 159 (178 ) — Reversal (provision) of allowance for credit losses 802 (9 ) (6,854 ) (6,061 ) Charge-off — — 2,506 2,506 Disposal — — 1,685 1,685 Business combination (401 ) — (7,268 ) (7,669 ) Others (56 ) — 397 341 Ending balance (3,196 ) (1,666 ) (72,277 ) (77,139 ) For the year ended December 31, 2020 Stage 1 Stage 2 Stage 3 Total Beginning balance (3,196 ) (1,666 ) (72,277 ) (77,139 ) Transfer to 12-month (142 ) 129 13 — Transfer to lifetime expected credit losses 125 (155 ) 30 — Transfer to credit-impaired financial assets 23 64 (87 ) — Provision of allowance for credit losses (667 ) (1,589 ) (3,080 ) (5,336 ) Charge-off — — 2,151 2,151 Disposal — — 1,557 1,557 Business combination (624 ) (2,235 ) (1,968 ) (4,827 ) Others 815 2 (518 ) 299 Ending balance (3,666 ) (5,450 ) (74,179 ) (83,295 ) For the year ended December 31, 2021 Stage 1 Stage 2 Stage 3 Total Beginning balance (3,666 ) (5,450 ) (74,179 ) (83,295 ) Transfer to 12-month (228 ) 217 11 — Transfer to lifetime expected credit losses 147 (174 ) 27 — Transfer to credit-impaired financial assets 167 288 (455 ) — Reversal (provision) of allowance for credit losses 511 (464 ) 4,664 4,711 Charge-off — — 9,965 9,965 Disposal — — 1,400 1,400 Others (606 ) 3 1,041 438 Ending balance (3,675 ) (5,580 ) (57,526 ) (66,781 ) (10) Changes in the gross carrying amount of other financial assets are as follows (Unit: Korean Won in millions): For the year ended December 31, 2019 Stage 1 Stage 2 Stage 3 Total Beginning balance 7,454,390 28,193 72,007 7,554,590 Transfer to 12-month 8,036 (8,019 ) (17 ) — Transfer to lifetime expected credit losses (17,678 ) 17,740 (62 ) — Transfer to credit-impaired financial assets (952 ) (918 ) 1,870 — Charge-off — — (2,506 ) (2,506 ) Disposal — — (2,212 ) (2,212 ) Net increase 606,457 55,651 41,138 703,246 Business combination 9,591 — 7,656 17,247 Ending balance 8,059,844 92,647 117,874 8,270,365 For the year ended December 31, 2020 Stage 1 Stage 2 Stage 3 Total Beginning balance 8,059,844 92,647 117,874 8,270,365 Transfer to 12-month 8,760 (8,737 ) (23 ) — Transfer to lifetime expected credit losses (15,305 ) 15,334 (29 ) — Transfer to credit-impaired financial assets (1,900 ) (701 ) 2,601 — Charge-off — — (2,151 ) (2,151 ) Disposal — — (1,847 ) (1,847 ) Net increase (decrease) (856,008 ) (26,539 ) 69,500 (813,047 ) Business combination 72,035 4,414 2,262 78,711 Ending balance 7,267,426 76,418 188,187 7,532,031 For the year ended December 31, 2021 Stage 1 Stage 2 Stage 3 Total Beginning balance 7,267,426 76,418 188,187 7,532,031 Transfer to 12-month 8,909 (8,894 ) (15 ) — Transfer to lifetime expected credit losses (27,369 ) 27,399 (30 ) — Transfer to credit-impaired financial assets (1,877 ) (1,638 ) 3,515 — Charge-off — — (9,965 ) (9,965 ) Disposal — — (1,716 ) (1,716 ) Net increase (decrease) 1,757,450 13,312 (5,108 ) 1,765,654 Ending balance 9,004,539 106,597 174,868 9,286,004 |
Fair value of financial assets
Fair value of financial assets and liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of fair value measurement [Abstract] | |
Fair Value Of Financial Assets And Liabilities | 11. FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (1) The fair value hierarchy The fair value hierarchy for financial instruments is determined by the amount of observable market data. The specific financial instruments characteristics and market condition such as the existence of the transactions among market participants 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, 2020 Level 1 (*) Level 2 (*) Level 3 Total Financial assets: Financial assets at FVTPL Deposits 48,796 — — 48,796 Debt securities 516,597 2,365,882 4,618 2,887,097 Equity securities 35,422 — 450,371 485,793 Capital contributions — — 865,685 865,685 Beneficiary certificates 24,895 869,852 1,917,811 2,812,558 Loans — 467,229 209,062 676,291 Derivative assets 18,416 6,875,454 7,872 6,901,742 Others — — 84,979 84,979 Sub-total 644,126 10,578,417 3,540,398 14,762,941 Financial assets at FVTOCI Debt securities 3,092,237 25,855,904 — 28,948,141 Equity securities 510,073 — 570,715 1,080,788 Sub-total 3,602,310 25,855,904 570,715 30,028,929 Derivative assets — 174,820 — 174,820 Total 4,246,436 36,609,141 4,111,113 44,966,690 Financial liabilities: Financial liabilities at FVTPL Deposits due to customers 49,279 — — 49,279 Derivative liabilities 6,024 6,433,727 20,136 6,459,887 Securities sold 285,026 — — 285,026 Sub-total 340,329 6,433,727 20,136 6,794,192 Financial liabilities at FVTPL designated as upon initial recognition Equity-linked securities — — 19,630 19,630 Derivative liabilities — 64,769 — 64,769 Total 340,329 6,498,496 39,766 6,878,591 (*) 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. December 31, 2021 Level 1 (*) Level 2 (*) Level 3 Total Financial assets: Financial assets at FVTPL Deposits 65,072 — — 65,072 Debt securities 817,584 1,923,538 2,117 2,743,239 Equity securities 25,879 — 303,985 329,864 Capital contributions — — 1,287,723 1,287,723 Beneficiary certificates 74,271 2,326,202 1,104,074 3,504,547 Loans — 453,832 213,635 667,467 Derivative assets 10,911 4,762,872 29,348 4,803,131 Others — — 96,191 96,191 Sub-total 993,717 9,466,444 3,037,073 13,497,234 Financial assets at FVTOCI Debt securities 5,578,455 32,548,522 — 38,126,977 Equity securities 411,357 — 581,455 992,812 Sub-total 5,989,812 32,548,522 581,455 39,119,789 Derivative assets — 106,764 — 106,764 Total 6,983,529 42,121,730 3,618,528 52,723,787 Financial liabilities: Financial liabilities at FVTPL Deposits due to customers 65,016 — — 65,016 Derivative liabilities 10,259 4,552,368 4,641 4,567,268 Securities sold 211,408 29,766 — 241,174 Sub-total 286,683 4,582,134 4,641 4,873,458 Derivative liabilities — 27,584 — 27,584 Total 286,683 4,609,718 4,641 4,901,042 (*) 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 and liabilities at FVTPL, financial liabilities at FVTPL designated as upon initial recognition, financial assets at FVTOCI, and derivative assets and liabilities 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: 1) Valuation methods and input variables for each type of financial instrument classified into level 2 in December 31, 2020 and 2021 are as follows: Valuation methods Input variables Debt securities Fair value is measured by discounting the future cash flows of debt securities applying the risk-free market rate with credit spread. Risk-free market rate and credit spread Beneficiary certificates The beneficiary certificates classified as Level 2 are MMF and are measured at the standard price. Standard price Derivatives Fair value is measured by models such as option model (Closed form), DCF model, FDM and Monte Carlo Simulation. Discount rate, values of underlying assets such as foreign exchange rate and stock prices, risk-free market rate, forward rate, etc. Loans The future cash flows of debt instruments are measured at a discount by applying the market interest rate applied to entities with similar creditworthiness to the debtor. Risk-free market rate and credit spread 2) Valuation methods and input variables for each type of financial instrument classified into level 3 in December 31, 2020 and 2021 are as follows: Valuation methods Input variables Loans, bond with options Fair value is calculated by using the Discounted Cash Flow Model, Binomial Tree, which is a valuation technique commonly used in the market taking into account the price and variability of the underlying asset, and LSMC. Values of underlying assets, volatility, credit spread, discount rate and terminal growth rate Debt securities The Group is measuring fair value with LSMC and the Hull-White model. Stock volatility, interest rate volatility and discount rate 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, Net Asset Value Method, LSMC, and Binomial Tree, more than one method is used given the characteristic of the subject of fair value measurement. Risk-free market rate, market risk premium, corporate Beta, stock prices, volatility of underlying asset, net asset of the investment association and discount rate Derivatives Fair value is measured by models such as option model (Closed form), DCF model, FDM and Monte Carlo Simulation. Risk-free market rate, discount rate, values of underlying assets such as foreign exchange rate and stock prices, volatility, etc. Equity-linked securities Fair value is measured by models such as option model (Closed form), DCF model, FDM and Monte Carlo Simulation. Volatility of underlying assets, discount rate, dividends, volatility, correlation coefficient, foreign exchange rate, etc. Others Fair value is calculated by using the binominal tree. Least-Squares Monte Carlo simulation (LSMC) and Income approach, which are commonly used valuation techniques in the market taking into account the price and variability of the underlying asset after measuring the fair value of underlying asset using Models including Discounted Cash Flow Model. Stock prices, volatility of underlying assets, etc. Valuation methods of financial assets and liabilities measured at fair value and classified into Level 3 and significant but unobservable inputs are as follows: December 31, 2020 Fair value Type Input variable Range Impact of changes in significant Loans, bond with options, convertible bonds Binomial Tree Stock prices, Volatility of underlying asset 19.82~22.84% Variation of fair value increases as volatility of underlying asset increases. LSMC Stock prices, Volatility of underlying asset 18.99% Variation of fair value increases as volatility of underlying asset increases. DCF model Discount rate 4.70~16.50% Fair value increases as discount rate decreases. Terminal growth rate 1.00% Fair value increases as terminal growth rate increases. Credit spread 2.30~5.90% Fair value decreases as credit spread increases. Hull-White Stock volatility 17.50~27.30% Fair value increases as volatility increases. Interest rate volatility 0.50% Fair value increases as volatility increases. Discount rate 3.10~53.20% Fair value increases as discount rate decreases. Derivative assets Option valuation model and others Interest rate related Correlation coefficient 0.90~0.98 Variation of fair value increases as correlation coefficient increases. Volatility of underlying asset 25.46~131.47% Variation of fair value increases as volatility of underlying assets increases. Equity related Correlation coefficient 0.29~0.75 Variation of fair value increases as correlation coefficient increases. Volatility of underlying asset — Variation of fair value increases as volatility of underlying assets increases. DCF model Interest rate related Credit risk adjustment ratio 100.00% Variation of fair value decreases as credit risk adjustment ratio increases. Derivative liabilities Option valuation model and others Interest rate related Correlation coefficient 0.90~0.98 Variation of fair value increases as correlation coefficient increases. Volatility of underlying asset 25.46~131.47% Variation of fair value increases as volatility of underlying assets increases. Equity related Correlation coefficient 0.29~0.75 Variation of fair value increases as correlation coefficient increases. Volatility of underlying asset — Variation of fair value increases as volatility of underlying assets increases. December 31, 2020 Fair value Type Input variable Range Impact of changes in significant Equity-linked securities Monte Carlo Simulation and others Equity related Correlation coefficient Volatility of underlying asset 0.48~0.60 27.59~49.29% Fair value of equity-linked securities increases if both historical volatility and correlation coefficient increase. However, when correlation coefficient decreases despite the increase in historical volatility, the fair value variation of equity-linked securities may decrease. Equity securities, capital contributions, and beneficiary certificates LSMC Stock prices, Volatility of underlying asset 18.99~26.45% Variation of fair value increases as volatility of underlying asset increases. DCF model and others Terminal growth rate 1.00% Fair value increases as terminal growth rate increases. Discount rate 5.83~34.63% Fair value increases as discount rate decreases. Fluctuation rate of real estate sales price — Fair value increases as sales price increases Liquidation value — Variation of liquidation value increases as volatility of underlying assets increases Net asset value method Discount rate 14.30% Fair value increases as discount rate decreases. Binomial Tree Volatility 39.60% Fair value increases as volatility increases. Discount rate 8.50% Fair value increases as discount rate decreases. Others Income approach Discount rate 12.69% Fair value increases as discount rate decreases. Growth rate 1.00% Fair value increases as growth rate increases. LSMC Stock prices, Volatility of underlying asset 17.61~26.45% Variation of fair value increases as volatility of underlying asset increases. December 31, 2021 Fair value Type Input variable Range Impact of changes in significant Loans Binomial Tree Stock prices, Volatility of underlying asset 22.62% Variation of fair value increases as volatility of underlying asset increases. LSMC Stock prices, Volatility of underlying asset 19.48% Variation of fair value increases as volatility of underlying asset increases. Derivative assets Option valuation model and others Interest rate related Correlation coefficient 0.90~0.98 Variation of fair value increases as correlation coefficient increases. Volatility of underlying asset 24.84~97.50% Variation of fair value increases as volatility of underlying assets increases. Equity related Correlation coefficient 0.18~0.76 Variation of fair value increases as correlation coefficient increases. Volatility of underlying asset — Variation of fair value increases as volatility of underlying assets increases. DCF model Interest rate related Credit risk adjustment ratio 100.00% Variation of fair value decreases as credit risk adjustment ratio increases. Derivative liabilities Option valuation model and others Interest rate related Correlation coefficient 0.90~0.98 Variation of fair value increases as correlation coefficient increases. Volatility of underlying asset 24.84~97.50% Variation of fair value increases as volatility of underlying assets increases. Equity related Correlation coefficient 0.18~0.76 Variation of fair value increases as correlation coefficient increases. Volatility of underlying asset — Variation of fair value increases as volatility of underlying assets increases. Equity securities, capital contributions, and beneficiary certificates LSMC Stock prices, Volatility of underlying asset 0.00% Variation of fair value increases as volatility of underlying asset increases. DCF model and others Discount rate 0.00~35.92% Fair value increases as discount rate decreases. Terminal growth rate 1.00% Fair value increases as terminal growth rate increases. Liquidation value 0.00% Variation of liquidation value increases as volatility of underlying assets increases Others Income approach Growth rate 1.00% Fair value increases as growth rate increases. LSMC Stock prices, Volatility of underlying asset 19.48~28.41% Variation of fair value increases as volatility of underlying asset 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, 2019 Beginning Business Combination Net (*1) Other Purchases/ issuances Disposals/ settlements Transfer to or (*2) Ending Financial assets: Financial assets at FVTPL Debt securities 8,389 — 476 — 2,000 (5,039 ) — 5,826 Equity securities 401,860 — 59,537 — 95,511 (28,287 ) — 528,621 Capital contributions 422,614 707 (13,270 ) — 173,064 (67,916 ) — 515,199 Beneficiary certificates 854,299 — 18,450 — 578,228 (183,684 ) 8,441 1,275,734 Loans 180,450 — 6,854 — 60,696 (95,371 ) — 152,629 Derivative assets 48,798 — 16,935 — 1,115 (40,343 ) (1,457 ) 25,048 Sub-total 1,916,410 707 88,982 — 910,614 (420,640 ) 6,984 2,503,057 Financial assets at FVTOCI Equity securities 468,847 1,408 — 23,063 687 (306 ) (1 ) 493,698 Total 2,385,257 2,115 88,982 23,063 911,301 (420,946 ) 6,983 2,996,755 Financial liabilities: Financial liabilities at FVTPL Derivative liabilities 16,691 — 84,033 — (11,140 ) (14,817 ) (2,728 ) 72,039 Financial liabilities at FVTPL designated as upon initial recognition Equity-linked securities 164,767 — 33,237 — 1,809 (112,187 ) — 87,626 Derivatives liabilities (designated for hedging) — — — — 321 — — 321 Total 181,458 — 117,270 — (9,010 ) (127,004 ) (2,728 ) 159,986 (*1) For financial liabilities, positive numbers represent losses that increase balance and negative numbers represent gains that decrease balance. The statements of comprehensive income includes gain of 21,809 million Won included in net gain (loss) on financial assets at FVTPL and net gain (loss) on financial assets at FVTOCI pertaining to the assets and liabilities held by the Group at the end of the period. (*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, 2020 Beginning Business Net (*1) Other Purchases/ issuances Disposals / settlements Transfer to or (*2) Ending Financial assets: Financial assets at FVTPL Debt securities 5,826 — (632 ) — 2,627 (3,203 ) — 4,618 Equity securities 464,741 3,894 (8,977 ) — 5,088 (14,407 ) 32 450,371 Capital contributions 515,199 173,244 39,500 — 194,396 (56,654 ) — 865,685 Beneficiary certificates 1,275,734 166,467 (7,919 ) — 715,437 (231,908 ) — 1,917,811 Loans 152,629 35,854 6,149 — 656,880 (642,450 ) — 209,062 Derivative assets 25,048 — 9,458 — 9,501 (23,911 ) (12,224 ) 7,872 Others 63,880 — 3,472 — 17,997 (370 ) — 84,979 Sub-total 2,503,057 379,459 41,051 — 1,601,926 (972,903 ) (12,192 ) 3,540,398 Financial assets at FVTOCI Equity securities 493,698 — — (4,920 ) 82,227 (2,482 ) 2,192 570,715 Total 2,996,755 379,459 41,051 (4,920 ) 1,684,153 (975,385 ) (10,000 ) 4,111,113 Financial liabilities: Financial liabilities at FVTPL Derivative liabilities 72,039 — 30,150 — 2,650 (66,170 ) (18,533 ) 20,136 Financial liabilities at FVTPL designated as upon initial recognition Equity-linked securities 87,626 — 665 — — (68,661 ) — 19,630 Derivative liabilities (Designated for hedging) 321 — — — — (321 ) — — Total 159,986 — 30,815 — 2,650 (135,152 ) (18,533 ) 39,766 (*1) For financial liabilities, positive numbers represent losses that increase balance and negative numbers represent gains that decrease balance. The gain amounting to 37,430 million Won for the year ended December 31, 2020, which is from financial assets and liabilities that the Group holds as at the end of the year. (*2) There were transfers between levels as the availability of observable market data for these financial instruments changed. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. For the year ended December 31, 2021 Beginning Net (*1) Other Purchases/ issuances Disposals / settlements Transfer to or (*2) Ending Financial assets: Financial assets at FVTPL Debt securities 4,618 (431 ) — 1,000 (4,070 ) 1,000 2,117 Equity securities 450,371 (24,501 ) — 33,570 (154,455 ) (1,000 ) 303,985 Capital contributions 865,685 82,596 — 575,643 (236,201 ) — 1,287,723 Beneficiary certificates 1,917,811 10,347 — 86,224 (910,308 ) — 1,104,074 Loans 209,062 16,975 — 761,045 (773,447 ) — 213,635 Derivative assets 7,872 22,256 — 5,058 — (5,838 ) 29,348 Others 84,979 12,245 — 14,982 (16,548 ) 533 96,191 Sub-total 3,540,398 119,487 — 1,477,522 (2,095,029 ) (5,305 ) 3,037,073 Financial assets at FVTOCI Equity securities 570,715 — 11,362 645 (1,267 ) — 581,455 Total 4,111,113 119,487 11,362 1,478,167 (2,096,296 ) (5,305 ) 3,618,528 Financial liabilities: Financial liabilities at FVTPL Derivative liabilities 20,136 4,926 — (3,979 ) (10,188 ) (6,254 ) 4,641 Financial liabilities at FVTPL designated as upon initial recognition Equity-linked securities 19,630 (102 ) — — (19,528 ) — — Total 39,766 4,824 — (3,979 ) (29,716 ) (6,254 ) 4,641 (*1) For financial liabilities, positive numbers represent losses that increase balance and negative numbers represent gains that decrease balance. The gain amounting to 2,634 million Won for the year ended December 31, 2021, which is from financial assets and liabilities that the Group holds as at the end of the year. (*2) There were transfers between levels as the availability of observable market data for these financial instruments changed. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. (4) Sensitivity analysis results on reasonable fluctuation of the significant unobservable input variables for the fair value of Level 3 financial instruments are as follows. 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. Meanwhile, among the financial instruments that are classified as Level 3 amounting to and 4,150,878 million Won 3,623,168 million Won as of December 31,2020 and 2021 respectively, equity instruments of 3,052,432 million Won and 3,030,775 million Won whose carrying amount are considered to represent the reasonable approximation of fair value are excluded from the sensitivity analysis. The sensitivity on fluctuation of input variables by financial instruments as of December 31, 2019, 2020 and 2021 is as follows (Unit: Korean Won in millions): December 31, 2019 Net income Other comprehensive income (loss) Favorable Unfavorable Favorable Unfavorable Financial assets: Financial assets at FVTPL Derivative assets (*1) 640 (935 ) — — Loans (*2) 152 (128 ) — — Debt securities 652 (640 ) — — Equity securities (*3)(*4) 16,104 (10,929 ) — — Beneficiary certificates (*4) 1,125 (1,125 ) — — Financial assets at FVTOCI Equity securities (*3)(*4) — — 26,380 (11,981 ) Total 18,673 (13,757 ) 26,380 (11,981 ) Financial liabilities: Financial liabilities at FVTPL Derivative liabilities (*1) 1,054 (816 ) — — Financial liabilities at FVTPL designated as upon initial recognition Equity-linked securities (*1) 136 (142 ) — — Total 1,190 (958 ) — — (*1) Fair value changes of equity related derivatives 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 stock prices (-10%~10%) (-10~10%). (*3) Fair value changes of equity securities are calculated by increasing or decreasing terminal growth rate (0~1%) and discount rate or liquidation (-1~1%). (*4) 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 rate of real estate which is underlying assets and discount rate by 1%. December 31, 2020 Net income (loss) Other comprehensive income (loss) Favorable Unfavorable Favorable Unfavorable Financial assets: Financial assets at FVTPL Derivative assets (*1) 110 (257 ) — — Loans (*2) 933 (932 ) — — Debt securities 13 (10 ) — — Equity securities (*2)(*3)(*4) 8,539 (7,337 ) — — Beneficiary certificates (*4) 1,403 (1,537 ) — — Others (*2) 640 (547 ) — — Financial assets at FVTOCI Equity securities (*3)(*4) — — 21,587 (16,740 ) Total 11,638 (10,620 ) 21,587 (16,740 ) Financial liabilities: Financial liabilities at FVTPL Derivative liabilities (*1) 776 (405 ) — — Financial liabilities at FVTPL designated as upon initial recognition Equity-linked securities (*1) 57 (45 ) — — Total 833 (450 ) — — (*1) Fair value changes of equity related derivatives 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 stock prices (-10%~10%) (-10~10%). (*3) Fair value changes of equity securities are calculated by increasing or decreasing terminal growth rate (0~1%) (-1~1%) (-1~1%). (*4) 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 rate of real estate which is underlying assets and discount rate by 1%. December 31, 2021 Net income (loss) Other comprehensive income (loss) Favorable Unfavorable Favorable Unfavorable Financial assets: Financial assets at FVTPL Derivative assets (*1) 1,668 (1,191 ) — — Loans (*2) 682 (671 ) — — Debt securities 13 (12 ) — — Equity securities (*2)(*3)(*4) 6,348 (5,331 ) — — Beneficiary certificates (*4) 1,305 (1,171 ) — — Others (*2) 921 (876 ) — — Financial assets at FVTOCI Equity securities (*3)(*4) — — 30,391 (23,865 ) Total 10,937 (9,252 ) 30,391 (23,865 ) Financial liabilities: Financial liabilities at FVTPL Derivative liabilities (*1) 205 (264 ) — — Total 205 (264 ) — — (*1) Fair value changes of equity related derivatives 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 stock prices (-10%~10%) (-10~10%). (*3) Fair value changes of equity securities are calculated by increasing or decreasing terminal growth rate (-0.5%~0.5%) (-1~1%) (-1~1%). (*4) 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 rate of real estate which is underlying assets and discount rate by 1%. (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, 2020 Fair value Book value Level 1 Level 2 Level 3 Total Financial assets: Securities at amortized cost 2,968,875 14,299,748 — 17,268,623 17,020,839 Loans and other financial assets at amortized cost — — 318,144,845 318,144,845 320,106,078 Financial liabilities: Deposits due to customers — 291,767,282 — 291,767,282 291,477,279 Borrowings — 20,586,930 176,745 20,763,675 20,745,466 Debentures — 37,931,989 — 37,931,989 37,479,358 Other financial liabilities — 13,305,067 286,489 13,591,556 13,808,386 December 31, 2021 Fair value Book value Level 1 Level 2 Level 3 Total Financial assets: Securities at amortized cost 2,122,401 14,921,119 — 17,043,520 17,086,274 Loans and other financial assets at amortized cost — 3 359,918,500 359,918,503 361,932,872 Financial liabilities: Deposits due to customers — 318,070,829 — 318,070,829 317,899,871 Borrowings — 23,393,520 1,270,305 24,663,825 24,755,459 Debentures — 44,500,963 — 44,500,963 44,653,864 Other financial liabilities — 23,216,929 379,534 23,596,463 23,890,017 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 by using valuation methods. Valuation methods and input variables for financial assets and liabilities that are measured at amortized cost are given as follows: Valuation methods Input variables Securities at amortized cost The fair value is measured by discounting the projected cash flows of debt securities by applying risk-free market rate with credit spread. Risk-free market rate and credit spread Loans and other financial assets at amortized cost 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, credit spread 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, 2020 Financial assets Financial asset Financial assets Financial assets Derivatives Total Deposits 48,796 — 9,863,160 — 9,911,956 Securities 7,136,112 30,028,929 17,020,839 — 54,185,880 Loans 676,291 — 302,794,182 — 303,470,473 Derivative assets 6,901,742 — — 174,820 7,076,562 Other financial assets — — 7,448,736 — 7,448,736 Total 14,762,941 30,028,929 337,126,917 174,820 382,093,607 December 31, 2020 Financial liabilities Financial liabilities Financial liabilities Financial liabilities Derivatives Total Deposits due to customers 49,279 — 291,477,279 — 291,526,558 Borrowings 285,026 19,630 20,745,466 — 21,050,122 Debentures — — 37,479,358 — 37,479,358 Derivative liabilities 6,459,887 — — 64,769 6,524,656 Other financial liabilities — — 13,808,386 — 13,808,386 Total 6,794,192 19,630 363,510,489 64,769 370,389,080 December 31, 2021 Financial assets Financial asset Financial assets at Financial assets Derivatives Total Deposits 65,072 — 15,914,139 — 15,979,211 Securities 7,960,046 39,119,789 17,086,274 — 64,166,109 Loans 667,467 — 336,799,510 — 337,466,977 Derivative assets 4,803,131 — — 106,764 4,909,895 Other financial assets 1,518 — 9,219,223 — 9,220,741 Total 13,497,234 39,119,789 379,019,146 106,764 431,742,933 December 31, 2021 Financial liabilities Financial liabilities Financial liabilities Derivatives Total Deposits due to customers 65,016 317,899,871 — 317,964,887 Borrowings 241,174 24,755,459 — 24,996,633 Debentures — 44,653,864 — 44,653,864 Derivative liabilities 4,567,268 — 27,584 4,594,852 Other financial liabilities — 23,890,017 — 23,890,017 Total 4,873,458 411,199,211 27,584 416,100,253 (7) Income or expense from financial instruments by category Income or expense from financial assets and liabilities by each category d |
Derecognition And Offset Of Fin
Derecognition And Offset Of Financial Instruments | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of derecognition and offsetting of financial assets and liabilities [Abstract] | |
Derecognition And Offset Of Financial Instruments | 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. 1) 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, 2020 December 31, 2021 Assets transferred Financial assets at FVTPL 410,331 248,009 Financial assets at FVTOCI 138,315 127,065 Securities at amortized cost 40,987 38,995 Loans and other financial assets at amortized cost 50,088 — Total 639,721 414,069 Related liabilities Bonds sold under repurchase agreements 657,823 749,976 2) 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 consolidated 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, December 31, Loaned to Financial assets at FVTOCI Korean treasury and government bonds 100,345 98,535 Korea Securities Finance Corporation 3) Liquidity of financial assets As of December 31, 2020 and 2021, the consolidated structured companies issued asset-backed securities with loans and corporate bonds held by the Group as liquid assets, and the Group bear related risks through the purchase agreements or credit contributions. The transaction details of the transfer of the financial instrument are as follows: December 31, 2020 December 31, 2021 Book value (*) Book value (*) Assets transferred Financial assets at FVPL 156,900 151,930 Loans at amortized cost 4,645,170 4,682,882 Related liabilities Asset-backed borrowings 2,536,219 2,424,080 Asset-backed bonds 1,289,992 978,274 (*) The carrying amount is the amount before the allowance for bad debts. On the other hand, the details of transferred financial assets that have not been removed, such as bonds sold under the repurchase agreement and loan securities, are also described in Note 18. The Group does not have financial instruments that are continuously involved. (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 payables or uncollected domestic exchange receivables and has been disclosed in loans at amortized cost and other financial assets and other financial liabilities of the Group’s statements of financial position respectively. 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, with the right of offsetting. Items 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 Group under the repurchase agreements has an 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 sold under repurchase agreements as borrowings and bonds purchased under resale agreements as loan at amortized cost and other financial assets. As of December 31, 2020 and 2021, the financial instruments to be offset and may be covered by master netting agreements and similar agreements are as follows (Unit: Korean Won in millions): December 31, 2020 Gross Gross Net amounts of financial Related amounts not setoff Net amounts Netting Cash Financial assets: Derivative assets (*1) 6,456,799 — 6,456,799 7,733,997 598,545 1,278,176 Receivable spot exchange (*2) 3,153,919 — 3,153,919 Bonds purchased under resale agreements (*2) 10,145,749 — 10,145,749 10,145,749 — — Domestic exchange settlement (*2)(*6) 34,352,965 32,834,189 1,518,776 — — 1,518,776 Total 54,109,432 32,834,189 21,275,243 17,879,746 598,545 2,796,952 Financial liabilities: Derivative liabilities (*1) 5,823,620 — 5,823,620 7,147,683 477,603 1,371,364 Equity-linked securities in short position (*3) 19,630 — 19,630 Payable spot exchange (*4) 3,153,400 — 3,153,400 Bonds sold under repurchase agreements (*5) 657,823 — 657,823 213,623 444,200 — Domestic exchange settlement (*4)(*6) 33,014,440 32,834,189 180,251 176,179 — 4,072 Total 42,668,913 32,834,189 9,834,724 7,537,485 921,803 1,375,436 (*1) The items include derivative assets and liabilities held for trading and 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. December 31, 2021 Gross Gross Net amounts of Related amounts not setoff Net amounts Netting Cash Financial assets: Derivative assets (*1) 4,172,737 — 4,172,737 8,260,784 552,071 1,275,186 Receivable spot exchange (*2) 5,915,304 — 5,915,304 Bonds purchased under resale agreements (*2) 10,332,858 — 10,332,858 10,332,858 — — Domestic exchange settlement debits (*2)(*5) 42,358,138 42,275,583 82,555 — — 82,555 Total 62,779,037 42,275,583 20,503,454 18,593,642 552,071 1,357,741 Financial liabilities: Derivative liabilities (*1) 3,708,263 — 3,708,263 8,755,492 114,716 754,855 Payable spot exchange (*3) 5,916,800 — 5,916,800 Bonds sold under repurchase agreements (*4) 749,976 — 749,976 749,976 — — Domestic exchange settlement credits (*3)(*5) 48,982,056 42,275,583 6,706,473 3,401,251 — 3,305,222 Total 59,357,095 42,275,583 17,081,512 12,906,719 114,716 4,060,077 (*1) The items include derivative assets and liabilities held for trading and designated for hedging. (*2) The items are included in loan at amortized cost and other financial assets. (*3) The items are included in other financial liabilities. (*4) The items are included in borrowings. (*5) 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, 2021 | |
Equity Method Investments And Joint Ventures [Abstract] | |
Investment In Joint Ventures And Associates | 13. INVESTMENTS IN JOINT VENTURES AND ASSOCIATES (1) Investments in associates accounted for using the equity method of accounting are as follows: Percentage of ownership (%) Joint ventures and associates (*9) Main business December 31, December 31, Location Financial Woori Bank W Service Networks Co., Ltd. (*1) Freight & staffing services 4.9 4.9 Korea 2021.11.30 (*5) Korea Credit Bureau Co., Ltd. (*2) Credit information 9.9 9.9 Korea 2021.12.31 Korea Finance Security Co., Ltd. (*1) Security service 15.0 15.0 Korea 2021.11.30 (*5) Wongwang Co., Ltd. (*3) Wholesale and real estate 29.0 29.0 Korea — Sejin Construction Co., Ltd. (*3) Construction 29.6 29.6 Korea — ARES-TECH Co., Ltd. (*3) Electronic component manufacturing 23.4 23.4 Korea — Sinseong Trading Co., Ltd. (*4) Manufacturing 27.9 — Korea — Reading Doctors Co., Ltd. (*3) Other services 35.4 35.4 Korea — Cultizm Korea LTD Co., Ltd. (*3) Wholesale and retail sales 31.3 31.3 Korea — NK Eng Co., Ltd. (*3) Manufacturing 23.1 23.1 Korea — Beomgyo.,Ltd. (*3) Telecommunication equipment retail sales 23.1 23.1 Korea — Woori Growth Partnerships New Technology Private Equity Fund Other financial services 23.1 23.1 Korea 2021.12.31 2016KIF-IMM Other financial services 20.0 20.0 Korea 2021.12.31 K BANK Co., Ltd. (*2)(*8) Finance 26.2 12.6 Korea 2021.11.30 (*5) Smart Private Equity Fund No.2 (*10) Other financial services 20.0 — Korea — Woori Bank-Company K Korea Movie Asset Fund Other financial services 25.0 25.0 Korea 2021.12.16 (*5) Well to Sea No. 3 Private Equity Fund (*11) Finance 50.0 — Korea — Partner One Value Up I Private Equity Fund Other financial services 23.3 23.3 Korea 2021.12.31 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership Other financial services 20.0 20.0 Korea 2021.12.31 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund Other financial services 25.0 25.0 Korea 2021.12.31 LOTTE CARD Co., Ltd. Credit card and installment financing 20.0 20.0 Korea 2021.9.30 (*5) Together-Korea Government Private Pool Private Securities Investment Trust No. 3 Other financial services 100.0 100.0 Korea 2021.12.31 Genesis Environmental Energy Company 1st Private Equity Fund Trust and collective investment 24.8 24.8 Korea 2021.12.31 Union Technology Finance Investment Association Trust and collective investment 29.7 29.7 Korea 2021.12.31 Dicustody Co., Ltd. (*2) Other information technology and computer operation related services — 1.0 Korea 2021.12.31 Woori Bank ( *6) Japanese Hotel Real Estate Private Equity Fund No.2 Other financial services 19.9 19.9 Korea 2021.12.31 Woori G Clean Energy No.1 Investment trust and discretionary investment business 29.3 — Korea — Woori Goseong Power EBL Private Special Asset Fund Trust and collective investment 16.7 — Korea — Woori Seoul Beltway Private Special Asset Fund No.1 Trust and collective investment 25.0 25.0 Korea 2021.12.31 Percentage of ownership (%) Joint ventures and associates (*9) Main business December 31, December 31, Location Financial Woori Multi-Return Securities Investment Trust 3 (Balanced Bond) Collective investment business — 20.0 Korea 2021.12.31 Woori Short-term Bond Securities Investment Trust (Bond) ClassC-F Collective investment business — 14.5 Korea 2021.12.31 Woori Financial Capital Co., Ltd. Woori TAERIM 1st Fund Other financial services 25.6 25.6 Korea 2021.12.31 Portone-Cape Fund No.1 Other financial services 20.0 20.0 Korea 2021.12.31 KIWOOM WOORI Financial 1st (*7) Other financial services 9.1 9.1 Korea 2021.12.31 DeepDive WOORI 2021-1 (*7) Other financial services — 11.9 Korea 2021.12.31 Darwin Green Packaging Private Equity Fund Other financial services — 20.4 Korea 2021.12.31 Woori Investment Bank Co., Ltd. (*6) Woori FirstValue Private Real Estate Fund No.2 Real estate business 12.0 12.0 Korea 2021.12.31 WooriG Real Infrastructure Blind General Type Private Placement Investment Trust Investment trust and discretionary investment business — 0.3 Korea 2021.12.31 Woori Asset Management Co. Ltd. Woori High plus G.B. Securities Feeder Fund1(G.B.) Collective investment business 21.8 — Korea — Woori Star50 Master Fund ClassC-F Collective investment business 24.5 — Korea — Woori Private Equity Asset Management Co., Ltd. Woori Hanhwa Eureka Private Equity Fund (*2) Other financial services 0.8 0.8 Korea 2021.12.31 Aarden Woori Apparel 1st Private Equity Fund (*2) Other financial services — 0.5 Korea 2021.12.31 Japanese Hotel Real Estate Private Equity Fund 1 Godo Kaisha Oceanos 1 Other financial services 47.8 47.8 Japan 2021.10.31 (*5) Woori G Japan Private Placement Real Estate Master Investment Trust No.2 Woori Zip 1 Other financial services — 63.9 Japan 2021.9.30 (*5) Woori Zip 2 Other financial services — 63.8 Japan 2021.9.30 (*5) Woori bank and Woori card Co., Ltd. (*6) Dongwoo C & C Co., Ltd. (*3) Construction 24.5 24.5 Korea — SJCO Co., Ltd. (*3) Aggregate transportation and wholesale 28.7 29.7 Korea — G2 Collection Co., Ltd. (*3) Wholesale and retail sales 29.2 29.2 Korea — The Base Enterprise Co., Ltd. (*3) Manufacturing 48.4 48.4 Korea — Kyesan Engineering Co., Ltd. (*3) Construction 23.3 23.3 Korea — Good Software Lap Co., Ltd. (*3) Service 29.4 29.4 Korea — QTS Shipping Co., Ltd. (*3) Complex transportation brokerage 49.8 49.8 Korea — DAEA SNC Co., Ltd. (*3) Wholesale and retail sales 25.5 25.5 Korea — Force TEC Co., Ltd. Manufacturing 25.8 24.5 Korea 2021.9.30 (*5) PREXCO Co., Ltd. (*3) Manufacturing 28.1 28.1 Korea — JiWon Plating Co., Ltd. (*3) Plating 20.8 20.8 Korea — Youngdong Sea Food Co., Ltd. (*3) Processed sea food manufacturing 24.5 24.5 Korea — KUM HWA Co., Ltd. Telecommunication equipment retail sales — 20.1 Korea 2021.9.30 (*5) Jinmyung Plus Co., Ltd Manufacturing — 21.3 Korea 2021.12.31 Percentage of ownership (%) Joint ventures and associates (*9) Main business December 31, December 31, Location Financial W oori bank and Woori Financial Capital Co., Ltd . (*6) JC Assurance No.2 Private Equity Fund Other financial services 29.3 24.4 Korea 2021.12.31 Dream Company Growth no.1 PEF Other financial services 27.8 27.8 Korea 2021.12.31 HMS-Oriens Other financial services 22.8 22.8 Korea 2021.12.31 Woori G Senior Loan Private Placement Investment Trust No.1 Collective investment business 21.7 21.7 Korea 2021.12.31 Genesis Eco No.1 Private Equity Fund Other financial services — 29.0 Korea 2021.12.31 Paratus Woori Material Component Equipment joint venture company Other financial services — 29.9 Korea 2021.9.30 (*5) Midas No. 8 Private Equity Joint Venture Company Other financial services — 28.5 Korea 2021.12.31 Woori Bank and Woori Investment Bank Co., Ltd. (*6) PCC-Woori Other financial services 38.8 38.8 Korea 2021.12.31 Woori bank and Woori Asset Management Co., Ltd. (*6) Woori High Plus Short-term High Graded ESG Bond Sec Feeder Inv Trust 1 Collective investment business 23.3 27.5 Korea 2021.12.31 Woori Bank and Woori Private Equity Asset Management Co., Ltd. (*6) Woori-Q Other financial services 38.4 38.1 Korea 2021.12.31 Woori Bank, Woori Financial Capital Co., Ltd., Woori Investment Bank Co., Ltd. and Woori Private Equity Asset Management Co., Ltd. (*6) Woori-Shinyoung Growth-Cap Other financial services 35.0 35.0 Korea 2021.12.31 (*1) Most of the significant business transactions of associates are with the Group as of December 31, 2020 and 2021. (*2) The Group can participate in decision-making body and exercise significant influence over financial policies and operational policies decision making of the associates. (*3) There is no investment balance as of December 31, 2020 and 2021. (*4) Registration was closed and excluded from associates for the year ended December 31, 2021. (*5) The equity method was applied using the most recent financial statements available from the settlement date because no financial statements were available at the end of December and the significant transactions or events that occurred between the end of the reporting period of the associate and the end of the reporting period of the subsidiary were duly reflected. (*6) Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. (*7) The Group can participate as a co-operator (*8) Due to the failure of associates to participate in the capital increase with consideration, the percentage of ownership decreased, for the year ended December 31, 2021. (*9) WooriG Oncorp Corporate support of Major Industry General Type Private Placement Investment Trust (Type 2) and other 16 joint ventures and associates can exercise significant influence but was classified as an item measured at fair value through profit or loss. (*10) Due to loss of significant influence during the year, it has been classified as a financial asset measured at fair value through profit or loss (*11) It was fully repaid and excluded from associates for the year ended December 31, 2021. (2) Changes in the carrying value of investments in associates accounted for using the equity method of accounting are as follows (Unit: Korean Won in millions): For the year ended December 31, 2019 Acquisition January 1, Share of Acquisition Disposal/ Dividends Change in December 31, W Service Networks Co., Ltd. 108 157 31 — — (2 ) — 186 Korea Credit Bureau Co., Ltd. 3,313 6,790 190 — — (135 ) — 6,845 Korea Finance Security Co., Ltd. 3,267 3,456 (169 ) — — — — 3,287 Chin Hung International Inc. 130,779 44,741 6,426 — — — 9 51,176 Saman Corporation 8,521 1,014 (198 ) — — — 33 849 Woori Growth Partnerships New Technology Private Equity Fund 18,666 25,091 1,466 309 (7,490 ) (164 ) — 19,212 2016KIF-IMM 12,385 15,300 1,193 — (2,615 ) — 1,263 15,141 K BANK Co., Ltd. 73,150 43,709 (18,233 ) 5,807 — — (29 ) 31,254 Smart Private Equity Fund No.2 2,915 2,890 (41 ) — (85 ) — — 2,764 Woori Bank-Company K Korea Movie Asset Fund 3,000 2,700 623 — — — — 3,323 Well to Sea No.3 Private Equity Fund 101,483 197,393 30,343 — — (18,836 ) 123 209,023 Partner One Value Up I Private Equity Fund 10,000 9,948 (40 ) — — — — 9,908 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 4,576 4,426 — 150 — — — 4,576 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 4,375 3,025 — 1,350 — — — 4,375 Woori-Shinyoung Growth-Cap 12,665 — (824 ) 12,665 — — — 11,841 LOTTE CARD Co.,Ltd 346,000 — 63,444 346,000 — — — 409,444 Woori-Q 6,129 — (83 ) 6,129 — — — 6,046 PCC-Woori 2,525 — — 2,525 — — — 2,525 Nomura-Rifa Private Real Estate Investment Trust No.17 1,000 787 (136 ) — (651 ) — — — Woori Hanhwa Eureka Private Equity Fund 350 339 3 — — — — 342 Godo Kaisha Oceanos 1 10,870 — 2 10,870 (15 ) (105 ) 200 10,952 Japanese Hotel Real Estate Private Equity Fund 2 3,291 — — 3,291 — — — 3,291 759,368 361,766 83,997 389,096 (10,856 ) (19,242 ) 1,599 806,360 For the year ended December 31, 2020 Acquisition January 1, Share of Acquisition Disposal/ Dividends Business Change in December 31, W Service Networks Co., Ltd. 108 186 7 — — (3 ) — 1 191 Korea Credit Bureau Co., Ltd. 3,313 6,845 1,370 — — (90 ) — — 8,125 Korea Finance Security Co., Ltd. 3,267 3,287 (221 ) — — — — — 3,066 Chin Hung International Inc. — 51,176 (742 ) — (50,411 ) — — (23 ) — Saman Corporation — 849 (432 ) — (466 ) — — 49 — Woori Growth Partnerships New Technology Private Equity Fund 16,938 19,212 (2,240 ) — (1,728 ) (212 ) — — 15,032 2016KIF-IMM 11,893 15,141 1,240 — (492 ) (1,088 ) — (1,563 ) 13,238 K BANK Co., Ltd. 236,232 31,254 (18,334 ) 163,082 — — — (1,905 ) 174,097 Smart Private Equity Fund No.2 2,915 2,764 (1,283 ) — — — — — 1,481 Woori Bank-Company K Korea Movie Asset Fund 2,100 3,323 365 — (900 ) — — — 2,788 Well to Sea No.3 Private Equity Fund — 209,023 87,180 — (117,170 ) (178,355 ) — (678 ) — Partner One Value Up I Private Equity Fund 10,000 9,908 (75 ) — — — — (17 ) 9,816 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 9,756 4,576 — 5,720 (540 ) — — — 9,756 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 4,130 4,375 — 75 (321 ) — — — 4,129 Woori-Shinyoung Growth-Cap 32,480 11,841 7,366 31,363 (12,124 ) (104 ) — — 38,342 LOTTE CARD Co.,Ltd 346,810 409,444 19,692 810 — (5,710 ) — (1,404 ) 422,832 Woori-Q 23,146 6,046 (159 ) 17,017 — — — — 22,904 PCC-Woori 7,575 2,525 554 5,049 — — — — 8,128 Force TEC Co., Ltd. — — 1,542 — — — — (1,149 ) 393 Together-Korea Government Private Pool Private Securities Investment Trust No.3 10,000 — 23 100,000 (90,000 ) — — — 10,023 Genesis Environmental Energy Company 1st Private Equity Fund 3,738 — 241 4,084 (346 ) — — — 3,979 Union Technology Finance Investment Association 4,500 — (15 ) 4,500 — — — — 4,485 Woori Hanhwa Eureka Private Equity Fund 350 342 61 — — — — — 403 Godo Kaisha Oceanos 1 10,800 10,952 7 — — (850 ) — 84 10,193 Japanese Hotel Real Estate Private Equity Fund No.2 3,291 3,291 283 — — (154 ) — (186 ) 3,234 Woori High plus G.B. Securities Feeder Fund1(G.B.) 6,000 — 49 6,141 — — — (114 ) 6,076 WooriG Senior Loan General Type Private Investment Trust No.1 51,959 — 343 51,959 — (257 ) — — 52,045 Woori G Clean Energy No.1 1,015 — 9 1,015 — — — — 1,024 Woori Goseong Power EBL Private Special Asset Fund 14,915 — 611 14,915 — (408 ) — — 15,118 Woori Seoul Beltway Private Special Asset Fund No.1 5,590 — 97 5,591 — (75 ) — — 5,613 WOORI TAERIM 1st Fund 1,100 — (6 ) — — — 289 — 283 For the year ended December 31, 2020 Acquisition January 1, Share of Acquisition Disposal/ Dividends Business Change in December 31, Portone-Cape Fund No.1 1,000 — — — — — 960 — 960 KIWOOM WOORI Financial 1st Investment Fund 1,000 — (6 ) 1,000 — — — — 994 Woori FirstValue Private Real Estate Fund No.2 9,000 — 1,184 — — — — 946 2,130 Woori Star50 Master Fund ClassC-F 200 — (16 ) 200 — — — — 184 JC Assurance No.2 Private Equity Fund 29,050 — — 29,050 — — — — 29,050 Dream Company Growth no.1 PEF 7,705 — — 7,705 — — — — 7,705 HMS-Oriens 12,000 — — 12,000 — — — — 12,000 Woori High Plus Short-term High Graded ESG Bond Sec Feeder Inv Trust 1 91,092 — 2,382 91,092 — — — — 93,474 974,968 806,360 101,077 552,368 (274,498 ) (187,306 ) 1,249 (5,959 ) 993,291 For the year ended December 31, 2021 Acquisition January 1, Share of Acquisition Disposal/ Dividends Change in December 31, W Service Networks Co., Ltd. 108 191 (4 ) — — (4 ) — 183 Korea Credit Bureau Co., Ltd. 3,313 8,125 1,388 — — (90 ) — 9,423 Korea Finance Security Co., Ltd. 3,267 3,066 35 — — — — 3,101 Woori Growth Partnerships New Technology Private Equity Fund 14,991 15,032 (637 ) — (1,947 ) — — 12,448 2016KIF-IMM 8,396 13,238 3,520 — (3,497 ) (631 ) — 12,630 K BANK Co., Ltd. (*1) 236,232 174,097 67,553 — — — (2,157 ) 239,493 Smart Private Equity Fund No.2 — 1,481 (797 ) — (684 ) — — — Woori Bank-Company K Korea Movie Asset Fund — 2,788 137 — (2,100 ) (480 ) — 345 Partner One Value Up I Private Equity Fund 5,039 9,816 2,521 — (4,961 ) (800 ) — 6,576 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 9,736 9,756 1,417 5,040 (5,060 ) — — 11,153 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 4,255 4,129 — 125 — — — 4,254 LOTTE CARD Co.,Ltd. 346,810 422,832 39,301 — — (10,374 ) 6,536 458,295 Together-Korea Government Private Pool Private Securities Investment Trust No. 3 10,000 10,023 47 — — — — 10,070 Genesis Environmental Energy Company 1st Private Equity Fund 3,738 3,979 147 — — — — 4,126 Union Technology Finance Investment Association 12,750 4,485 (347 ) 8,250 — — — 12,388 Dicustody Co., Ltd. 1 — — 1 — — — 1 Japanese Hotel Real Estate Private Equity Fund No.2 3,291 3,234 237 — — (201 ) (74 ) 3,196 Woori G Clean Energy No.1 — 1,024 — 1,462 (2,338 ) (148 ) — — Woori Goseong Power EBL Private Special Asset Fund — 15,118 227 — (15,118 ) (370 ) 143 — Woori Seoul Beltway Private Special Asset Fund No.1 7,513 5,613 124 1,935 — (121 ) — 7,551 Woori Corporate Private Securities Fund 1 (Bond) — — — 10,000 (10,000 ) — — — Woori G Star Private Placement Investment Trust No.33 [FI] — — — 20,000 (20,000 ) — — — Woori Multi-Return Securities Investment Trust 3 (Balanced Bond) 10,000 — 23 10,000 — — — 10,023 Woori Short-term Bond Securities Investment Trust(Bond) ClassC-F 150,000 — 1,822 150,000 — — — 151,822 WOORI TAERIM 1st Fund 1,100 283 708 — — — — 991 Portone-Cape Fund No.1 340 960 189 — (660 ) — — 489 KIWOOM WOORI Financial 1st Investment Fund 1,000 994 (21 ) — — — — 973 DeepDive WOORI 2021-1 1,000 — (7 ) 1,000 — — — 993 Darwin Green Packaging Private Equity Fund 4,000 — (43 ) 4,000 — — — 3,957 Woori FirstValue Private Real Estate Fund No.2 9,000 2,130 (637 ) — — (730 ) — 763 WooriG Real Infrastructure Blind General Type Private Placement Investment Trust 100 — — 100 — — — 100 Woori High plus G.B. Securities Feeder Fund1(G.B.) — 6,076 — — (6,076 ) — — — Woori Star50 Master Fund ClassC-F — 184 (4 ) — (180 ) — — — For the year ended December 31, 2021 Acquisition January 1, Share of Acquisition Disposal/ Dividends Change in December 31, Woori Hanhwa Eureka Private Equity Fund 164 403 138 — (214 ) — — 327 Aarden Woori Apparel 1st Private Equity Fund 100 — (1 ) 100 — — — 99 Godo Kaisha Oceanos 1 10,800 10,193 127 — — (370 ) (45 ) 9,905 Woori Zip 1 10,143 — (26 ) 16,380 (6,237 ) — 379 10,496 Woori Zip 2 14,254 — (50 ) 22,883 (8,628 ) — 527 14,732 Force TEC Co., Ltd. (*2) — 393 (393 ) — — — — — KUM HWA Co., Ltd. (*2) — — — — — — — — JINMYUNGPLUS CO.,LTD. — — — — — — — — JC Assurance No.2 Private Equity Fund 29,349 29,050 (11,621 ) 299 — — — 17,728 Dream Company Growth no.1 PEF 7,706 7,705 680 — — (471 ) — 7,914 HMS-Oriens 12,000 12,000 7 — — — — 12,007 WooriG Senior Loan General Type Private Investment Trust No.1 87,382 52,045 2,959 38,757 (3,060 ) (2,672 ) — 88,029 Genesis Eco No.1 Private Equity Fund 11,805 — (685 ) 11,805 — — — 11,120 Paratus Woori Material Component Equipment joint venture company 17,700 — (207 ) 17,700 — — — 17,493 Midas No. 8 Private Equity Joint Venture Company 19,000 — (32 ) 19,000 — — — 18,968 PCC-Woori 10,100 8,128 1,697 2,525 — — — 12,350 Woori High Plus Short-term High Graded ESG Bond Sec Feeder Inv 70,988 93,474 921 20,765 (38,870 ) (2,503 ) — 73,787 Woori-Q 45,394 22,904 1,002 25,246 (2,997 ) — — 46,155 Woori-Shinyoung Growth-Cap 17,218 38,342 20,813 12,799 (32,415 ) (10,826 ) — 28,713 1,210,083 993,291 132,228 400,172 (165,042 ) (30,791 ) 5,309 1,335,167 (*1) Included 70,120 million Won of deemed gain on disposal in accordance with the decrease in percentage of ownership from disproportionate contribution for the year ended December 31, 2021. (*2) As a result of discontinuation of the equity method, related companies’ losses amount not recognized is 797 million Won for Force TEC Co., Ltd. and 2 million Won for KUM HWA Co., Ltd. (3) Summary financial information relating to investments in associates accounted for using the equity method of accounting is as follows (Unit: Korean Won in millions): December 31, 2020 Assets Liabilities Operating Net (loss) Other Total W Service Networks Co., Ltd. 6,305 2,448 18,525 1,197 — 1,197 Korea Credit Bureau Co., Ltd. 117,077 37,599 107,810 13,391 — 13,391 Korea Finance Security Co., Ltd. 36,978 16,536 60,599 (1,985 ) — (1,985 ) Woori Growth Partnerships New Technology Private Equity Fund 65,390 252 1,589 (9,601 ) — (9,601 ) 2016KIF-IMM 64,109 1,198 7,425 6,201 — 6,201 K BANK Co., Ltd. 4,040,051 3,530,074 68,144 (83,989 ) (1,354 ) (85,343 ) Smart Private Equity Fund No.2 13,667 51 1 (204 ) — (204 ) Woori Bank-Company K Korea Movie Asset Fund 11,273 119 1,926 1,461 — 1,461 Well to Sea No.3 Private Equity Fund 22,001 3,102 610,535 16,061 3,976 20,037 Partner One Value Up I Private Equity Fund 42,205 — 308 (329 ) — (329 ) IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 46,542 655 1,024 (411 ) — (411 ) Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 15,747 — 284 (85 ) — (85 ) LOTTE CARD Co.,Ltd (*) 14,578,716 12,238,805 1,255,593 78,781 (9,040 ) 69,741 Together-Korea Government Private Pool Private Securities Investment Trust No.3 10,025 1 187 23 — 23 Genesis Environmental Energy Company 1st Private Equity Fund 16,192 118 1,400 974 — 974 Union Technology Finance Investment Association 15,151 51 1 (50 ) — (50 ) Japanese Hotel Real Estate Private Equity Fund No.2 16,293 15 1,359 1,271 (940 ) 331 Woori G Clean Energy No.1 3,496 1 33 32 — 32 Woori Goseong Power EBL Private Special Asset Fund 90,728 21 3,060 2,969 — 2,969 Woori Seoul Beltway Private Special Asset Fund No.1 22,452 1 352 323 — 323 WOORI TAERIM 1st Fund 1,192 86 — (22 ) — (22 ) Portone-Cape Fund No.1 4,800 — — — — — KIWOOM WOORI Financial 1st Investment Fund 10,986 57 — (71 ) — (71 ) Woori FirstValue Private Real Estate Fund No.2 20,220 2,467 9 (9 ) — (9 ) Woori High plus G.B. Securities Feeder Fund1(G.B.) 27,870 — 148 148 — 148 Woori Star50 Master Fund ClassC-F 1,011 246 11 11 — 11 Woori Hanhwa Eureka Private Equity Fund 50,382 235 8,150 7,676 — 7,676 Godo Kaisha Oceanos 1 66,793 45,472 1,425 14 — 14 Force TEC Co., Ltd. 47,077 45,552 25,914 (415 ) (2,745 ) (3,160 ) December 31, 2020 Assets Liabilities Operating Net (loss) Other Total JC Assurance No.2 Private Equity Fund 98,431 13 — (732 ) — (732 ) Dream Company Growth no.1 PEF 28,727 43 — (116 ) — (116 ) HMS-Oriens 52,685 53 90 20 — 20 WooriG Senior Loan General Type Private Investment Trust No.1 240,414 15 1,721 1,584 — 1,584 PCC-Woori 20,927 4 2,082 1,425 — 1,425 Woori High Plus Short-term High Graded ESG Bond Sec Feeder Inv Trust 1 402,015 — 10,727 10,727 — 10,727 Woori-Q 58,355 433 206 (1,590 ) — (1,590 ) Woori-Shinyoung Growth-Cap 110,452 825 23,875 21,106 — 21,106 (*) The amount is after reflecting the fair value adjustment that occurred when acquiring the shares and the adjustments that occurred by difference of accounting policies with the Group. December 31, 2021 Assets Liabilities Operating Net (loss) Other Total W Service Networks Co., Ltd. 6,208 2,504 17,019 840 — 840 Korea Credit Bureau Co., Ltd. 113,859 21,284 127,751 20,486 — 20,486 Korea Finance Security Co., Ltd. 34,957 14,286 57,462 249 — 249 Woori Growth Partnerships New Technology Private Equity Fund 54,173 231 3,807 (2,228 ) — (2,228 ) 2016KIF-IMM 63,983 837 23,010 21,119 — 21,119 K BANK Co., Ltd. 14,021,789 12,291,131 250,502 19,348 (32,072 ) (12,724 ) Woori Bank-Company K Korea Movie Asset Fund 1,383 2 1,075 543 — 543 Partner One Value Up I Private Equity Fund 28,273 — 11,972 10,914 — 10,914 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 56,363 597 11,422 10,077 — 10,077 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 15,799 5 — (332 ) — (332 ) LOTTE CARD Co.,Ltd ( *) 15,980,312 13,460,156 1,499,867 184,919 25,612 210,531 Together-Korea Government Private Pool Private Securities Investment Trust No. 3 10,073 1 41 37 — 37 Genesis Environmental Energy Company 1st Private Equity Fund 20,610 3,941 11,347 694 — 694 Union Technology Finance Investment Association 41,996 290 13 (1,168 ) — (1,168 ) Dicustody Co., Ltd. 98 — — (2 ) — (2 ) Japanese Hotel Real Estate Private Equity Fund No.2 16,104 14 911 1,196 (373 ) 823 Woori Seoul Beltway Private Special Asset Fund No.1 30,206 1 536 500 — 500 December 31, 2021 Assets Liabilities Operating Net (loss) Other Total Woori Multi-Return Securities Investment Trust 3 (Balanced Bond) 101,644 51,530 5 2 — 2 Woori Short-term Bond Securities Investment Trust(Bond) ClassC-F 1,209,228 158,524 89 79 — 79 WOORI TAERIM 1st Fund 4,047 172 — 2,770 — 2,770 Portone-Cape Fund No.1 2,447 — 1,050 947 — 947 KIWOOM WOORI Financial 1st Investment Fund 10,818 111 1 (221 ) — (221 ) DeepDive WOORI 2021-1 8,340 — — (60 ) — (60 ) Darwin Green Packaging Private Equity Fund 19,387 — — (213 ) — (213 ) Woori FirstValue Private Real Estate Fund No.2 69,672 63,309 — (5,303 ) — (5,303 ) WooriG Real Infrastructure Blind General Type Private Placement Investment Trust 35,796 1 (34 ) (35 ) — (35 ) Woori Hanhwa Eureka Private Equity Fund 40,817 133 20,193 19,821 — 19,821 Aarden Woori Apparel 1st Private Equity Fund 21,075 89 — (214 ) — (214 ) Godo Kaisha Oceanos 1 66,087 45,367 3,141 267 — 267 Woori Zip 1 52,259 35,833 1,106 (26 ) — (26 ) Woori Zip 2 74,033 50,951 1,536 (50 ) — (50 ) Force TEC Co., Ltd. 11,904 23,508 20,941 (9,188 ) — (9,188 ) KUM HWA Co., Ltd. 20 176 58 (10 ) — (10 ) JINMYUNGPLUS CO.,LTD. 568 445 209 5 — 5 JC Assurance No.2 Private Equity Fund 118,397 — — (1,040 ) — (1,040 ) Dream Company Growth no.1 PEF 28,533 44 — 1,500 — 1,500 HMS-Oriens 52,659 28 2,750 2,179 — 2,179 Woori G Senior Loan Private Placement Investment Trust No.1 406,634 25 14,553 13,669 — 13,669 Genesis Eco No.1 Private Equity Fund 38,369 4 308 (377 ) — (377 ) Paratus Woori Material Component Equipment joint venture company 58,507 — 7 (693 ) — (693 ) Midas No. 8 Private Equity Joint Venture Company 66,699 112 1 (113 ) — (113 ) PCC-Woori 31,585 — 5,720 4,162 — 4,162 Woori High Plus Short-term High Graded ESG Bond Sec Feeder Inv Trust 1 257,891 — 3,239 3,239 — 3,239 Woori-Q 121,057 555 327 (1,547 ) — (1,547 ) Woori-Shinyoung Growth-Cap 82,087 314 83,143 81,550 — 81,550 (*) The amount is after reflecting the fair value adjustment that occurred when acquiring the shares and the adjustments that occurred by difference of accounting policies with the Group. (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, 2020 and 2021 are as follows: December 31, 2020 Associate (*) Number of shares owned Ownership (%) Orient Shipyard Co., Ltd. (*) 464,812 21.4 Yuil PESC Co., Ltd. (*) 8,642 24.0 CL Tech Co., Ltd. (*) 13,759 38.6 (*) Although 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 December 31, 2021 Associate (*) Number of shares owned Ownership (%) Orient Shipyard Co., Ltd. (*) 464,812 21.4 Yuil PESC Co., Ltd. (*) 8,642 24.0 CL Tech Co., Ltd. (*) 13,759 38.6 S.WIN Co., Ltd. (*) 20,301 20.0 (*) Although 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, 2019, December 31, 2019 Total net Ownership Ownership Basis Impairment Intercompany Book value W Service Networks Co., Ltd. 3,773 4.9 186 — — — 186 Korea Credit Bureau Co., Ltd. 66,566 9.9 6,597 246 — 2 6,845 Korea Finance Security Co., Ltd. 21,914 15.0 3,287 — — — 3,287 Chin Hung International Inc. (*1) 105,383 25.3 26,646 24,565 — (35 ) 51,176 Saman Corporation (*2) 26,022 9.2 2,391 5,373 (6,915 ) — 849 Woori Growth Partnerships New Technology Private Equity Fund 83,253 23.1 19,215 — — (3 ) 19,212 2016KIF-IMM 72,425 20.0 14,485 — — 656 15,141 K BANK Co., Ltd. (*1)(*2) 215,800 14.5 31,248 3,634 (3,634 ) 6 31,254 Smart Private Equity Fund No.2 13,821 20.0 2,764 — — — 2,764 Woori Bank-Company K Korea Movie Asset Fund 13,292 25.0 3,323 — — — 3,323 Well to Sea No.3 Private Equity Fund (*1) 418,250 50.0 209,041 — — (18 ) 209,023 Partner One Value Up 1st Private Equity Fund 42,602 23.3 9,909 — — (1 ) 9,908 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 20,517 20.0 4,103 — — 473 4,576 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 16,815 25.0 4,204 — — 171 4,375 Woori-Shinyoung Growth-Cap 37,022 31.9 11,841 — — — 11,841 LOTTE CARD Co., Ltd (*1) 2,047,220 20.0 409,444 — — — 409,444 December 31, 2019 Total net Ownership Ownership Basis Impairment Intercompany Book value Woori-Q 15,152 38.4 5,813 — — 233 6,046 PCC-Woori 6,498 38.8 2,524 — — 1 2,525 Woori Hanhwa Eureka Private Equity Fund 41,714 0.8 342 — — — 342 Godo Kaisha Oceanos 1 22,909 47.8 10,952 — — — 10,952 Japanese Hotel Real Estate Private Equity Fund No.2 16,555 19.9 3,291 — — — 3,291 (*1) The net asset equity amount is after the debt-for-equity non-controlling (*2) As a result of conducting an impairment test on the investment stocks of the related companies, the recoverable value was less than the carrying amount and thus the impairment loss was recognized. December 31, 2020 Total net Ownership Ownership Basis Impairment Intercompany Book value W Service Networks Co., Ltd. 3,857 4.9 191 — — — 191 Korea Credit Bureau Co., Ltd. 79,478 9.9 7,876 246 — 3 8,125 Korea Finance Security Co., Ltd. 20,442 15.0 3,066 — — — 3,066 Woori Growth Partnerships New Technology Private Equity Fund 65,138 23.1 15,034 — — (2 ) 15,032 2016KIF-IMM 62,911 20.0 12,582 — — 656 13,238 K BANK Co., Ltd. (*1)(*2) 509,978 26.2 133,614 44,117 (3,634 ) — 174,097 Smart Private Equity Fund No.2 (*2) 13,616 20.0 2,723 — (1,242 ) — 1,481 Woori Bank-Company K Korea Movie Asset Fund 11,154 25.0 2,788 — — — 2,788 Well to Sea No.3 Private Equity Fund (*3) 18,899 50.0 — — — — — Partner One Value Up Ist Private Equity Fund 42,205 23.3 9,817 — — (1 ) 9,816 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 45,888 20.0 9,178 — — 578 9,756 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 15,747 25.0 3,937 — — 192 4,129 Woori-Shinyoung Growth-Cap 109,627 35.0 38,342 — — — 38,342 LOTTE CARD Co., Ltd (*1) 2,114,159 20.0 422,832 — — — 422,832 Woori-Q 57,922 38.4 22,220 — — 684 22,904 PCC-Woori 20,923 38.8 8,126 — — 2 8,128 Force TEC 1,526 25.8 393 — — — 393 Together-Korea Government Private Pool Private Securities Investment Trust No.3 10,024 100.0 10,024 — — (1 ) 10,023 Genesis Environmental Energy Company 1st Private Equity Fund 16,074 24.8 3,979 — — — 3,979 Union Technology Finance Investment Association 15,100 29.7 4,485 — — — 4,485 Woori Hanhwa Eureka Private Equity Fund 50,147 0.8 403 — — — 403 Godo Kaisha Oceanos 1 21,321 47.8 10,193 — — — 10,193 Japanese Hotel Real Estate Private Equity Fund No.2 16,278 19.9 3,234 — — — 3,234 Woori High plus G.B. Securities Feeder Fund1(G.B.) 27,870 21.8 6,076 — — — 6,076 December 31, 2020 Total net Ownership Ownership Basis Impairment Intercompany Book value Woori G Senior Loan General Type Private Investment Trust No.1 240,399 21.7 52,045 — — — 52,045 Woori G Clean Energy No.1 3,495 29.3 1,024 — — — 1,024 Woori Goseong Power EBL Private Special Asset Fund 90,707 16.7 15,118 — — — 15,118 Woori Seoul Beltway Private Special Asset Fund No.1 22,451 25.0 5,613 — — — 5,613 WOORI TAERIM 1st Fund 1,106 25.6 283 — — — 283 Portone-Cape Fund No.1 4,800 20.0 960 — — — 960 KIWOOM WOORI Financial 1st Investment Fund 10,929 9.1 994 — — — 994 Woori FirstValue Private Real Estate Fund No.2 17,753 12.0 2,130 — — — 2,130 Woori Star50 Master Fund ClassC-F 765 24.5 184 — — — 184 JC Assurance No.2 Private Equity Fund 98,418 29.3 29,050 — — — 29,050 Dream Company Growth no.1 PEF 28,684 27.8 7,705 — — — 7,705 HMS-Oriens 52,632 22.8 12,000 — — — 12,000 Woori High Plus Short-term High Graded ESG Bond Sec Feeder Inv Trust 1 402,015 23.3 93,474 — — — 93,474 (*1) The net asset equity amount is after the debt-for-equity non-controlling (*2) As a result of conducting an impairment test on the investment stocks of the related companies, the recoverable value was less than the carrying amount and thus the impairment loss was recognized. (*3) The estimated recoverable amount of 15,687 million Won at the time of liquidation was classified as receivable. December 31, 2021 Total net Ownership Ownership net assets Basis Impairment Intercompany Book value W Service Networks Co., Ltd. 3,704 4.9 183 — — — 183 Korea Credit Bureau Co., Ltd. 92,575 9.9 9,177 246 — — 9,423 Korea Finance Security Co., Ltd. 20,671 15.0 3,101 — — — 3,101 Woori Growth Partnerships New Technology Private Equity Fund 53,942 23.1 12,448 — — — 12,448 2016KIF-IMM 63,146 20.0 12,630 — — — 12,630 K BANK Co., Ltd. (*) 1,730,307 12.6 217,599 21,894 — — 239,493 Woori Bank-Company K Korea Movie Asset Fund 1,381 25.0 345 — — — 345 Partner One Value Up 1st Private Equity Fund 28,273 23.3 6,576 — — — 6,576 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 55,767 20.0 11,153 — — — 11,153 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 15,794 25.0 3,949 — — 305 4,254 LOTTE CARD Co., Ltd (*1) 2,291,474 20.0 458,295 — — — 458,295 Together-Korea Government Private Pool Private Securities Investment Trust No.3 10,071 100.0 10,070 — — — 10,070 Genesis Environmental Energy Company 1st Private Equity Fund 16,669 24.8 4,126 — — — 4,126 Union Technology Finance Investment Association 41,706 29.7 12,388 — — — 12,388 Dicustody Co., Ltd. 98 1.0 1 — — — 1 December 31, 2021 Total net Ownership Ownership net assets Basis Impairment Intercompany Book value Japanese Hotel Real Estate Private Equity Fund No.2 16,090 19.9 3,196 — — — 3,196 Woori Seoul Beltway Private Special Asset Fund No.1 30,205 25.0 7,551 — — — 7,551 Woori Multi Return Private Securitie |
Investment Properties
Investment Properties | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of detailed information about 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 409,702 415,163 Accumulated depreciation (22,152 ) (25,582 ) Accumulated impairment losses (86 ) (86 ) Net carrying value 387,464 389,495 (2) Changes in investment properties are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Beginning balance (*) 178,910 280,239 387,464 Acquisition 70,346 76,588 — Disposal (193 ) (353 ) — Depreciation (2,225 ) (2,689 ) (2,809 ) Transfer 32,394 30,431 6,095 Foreign currencies translation adjustments 402 267 (1,255 ) Business combination — 10,557 — Others 605 (7,576 ) — Ending balance 280,239 387,464 389,495 (*) 199,286 million Won was deducted from the beginning net carrying amount for the year 2019, as it was reclassified from the investment properties to premises and equipment in the beginning of the period. (3) Fair value of investment properties amounted to 750,659 million Won and 665,710 million Won and as of December 31, 2020 and 2021, 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 l evel 3 on t (4) Rental fee earned from investment properties is amounting to 15,190 million Won and 15,056 million Won for the years ended December 31, 2020 and 2021, respectively. Operating expenses directly related to the investment properties where rental fee was earned is amounting to 2,807 million Won and 2,941 million Won. (5) The lease payments expected to be received in the future under lease contracts relating to investment properties as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, December 31, Lease payments: Within a year 11,553 13,769 More than 1 year and within 2 years 8,403 10,770 More than 2 years and within 3 years 7,545 7,743 More than 3 years and within 4 years 7,154 5,009 More than 4 years and within 5 years 4,312 2,953 More than 5 years 2,534 2,603 Total 41,501 42,847 |
Premises and Equipment
Premises and Equipment | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Property Plant And Equipment [Abstract] | |
Premises And Equipment | 15. PREMISES AND EQUIPMENT (1) Details of premises and equipment as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, 2020 Land Building Equipment Leasehold Construction Structures Total Premises and equipment (owned) 1,726,045 787,040 268,225 50,085 8,246 2 2,839,643 Right-of-use — 435,132 12,423 — — — 447,555 Carrying value 1,726,045 1,222,172 280,648 50,085 8,246 2 3,287,198 December 31, 2021 Land Building Equipment Leasehold Construction Structures Total Premises and equipment (owned) 1,719,325 756,964 258,361 51,354 3,171 1 2,789,176 Right-of-use — 367,480 18,064 — — — 385,544 Carrying value 1,719,325 1,124,444 276,425 51,354 3,171 1 3,174,720 (2) Details of premises and equipment (owned) as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, 2020 Land Building Equipment Leasehold Construction Structures Total Acquisition cost 1,726,705 1,076,647 1,142,653 478,290 8,246 20 4,432,561 Accumulated depreciation — (289,607 ) (874,428 ) (428,205 ) — (18 ) (1,592,258 ) Accumulated impairment losses (660 ) — — — — — (660 ) Net carrying value 1,726,045 787,040 268,225 50,085 8,246 2 2,839,643 December 31, 2021 Land Building Equipment Leasehold Construction Structures Total Acquisition cost 1,719,985 1,076,091 1,156,479 475,195 3,171 20 4,430,941 Accumulated depreciation — (319,127 ) (898,118 ) (423,841 ) — (19 ) (1,641,105 ) Accumulated impairment losses (660 ) — — — — — (660 ) Net carrying value 1,719,325 756,964 258,361 51,354 3,171 1 2,789,176 (3) Details of changes in premises and equipment (owned) are as follows (Unit: Korean Won in millions): For the year ended December 31, 2019 Land Building Equipment Leasehold Construction Structures Total Beginning balance 1,481,871 661,912 240,013 57,594 9,099 3 2,450,492 Acquisitions 186,303 87,667 119,474 28,788 7,315 — 429,547 Disposals (3,015 ) (2,245 ) (1,203 ) (2,738 ) — — (9,201 ) Depreciation — (30,766 ) (87,453 ) (27,134 ) — (1 ) (145,354 ) Classified as held-for-sale (21 ) (74 ) — — — — (95 ) Transfer 93,956 83,260 3,670 912 (14,886 ) — 166,912 Foreign currencies translation adjustments 880 801 1,459 609 36 — 3,785 Business combination 1,185 74 926 1 — — 2,186 Others — 1,670 1,130 (3,193 ) (277 ) — (670 ) Ending balance 1,761,159 802,299 278,016 54,839 1,287 2 2,897,602 For the year ended December 31, 2020 Land Building Equipment Leasehold Construction Structures Total Beginning balance 1,761,159 802,299 278,016 54,839 1,287 2 2,897,602 Acquisitions 3,787 26,972 84,828 26,124 7,751 — 149,462 Disposals (8,326 ) (1,719 ) (605 ) (688 ) — — (11,338 ) Depreciation — (34,572 ) (94,388 ) (30,579 ) — — (159,539 ) Transfer (30,847 ) (2,048 ) 118 — (118 ) — (32,895 ) Foreign currencies translation adjustments (836 ) (882 ) (1,849 ) (830 ) (82 ) — (4,479 ) Business combination 1,108 81 2,150 437 — — 3,776 Others — (3,091 ) (45 ) 782 (592 ) — (2,946 ) Ending balance 1,726,045 787,040 268,225 50,085 8,246 2 2,839,643 For the year ended December 31, 2021 Land Building Equipment Leasehold Construction Structures Total Beginning balance 1,726,045 787,040 268,225 50,085 8,246 2 2,839,643 Acquisitions — 15,750 68,069 23,347 11,637 — 118,803 Disposals — (1,994 ) (1,663 ) (979 ) — — (4,636 ) Depreciation — (33,523 ) (93,921 ) (22,293 ) — (1 ) (149,738 ) Classification of assets held for sale (7,157 ) (5,695 ) — — — — (12,852 ) Transfer (3,649 ) (2,446 ) 15,399 — (15,399 ) — (6,095 ) Foreign currencies translation adjustments 991 712 2,868 1,580 153 — 6,304 Others 3,095 (2,880 ) (616 ) (386 ) (1,466 ) — (2,253 ) Ending balance 1,719,325 756,964 258,361 51,354 3,171 1 2,789,176 (4) Details of right-of-use December 31, 2020 Building Equipment Total Acquisition cost 720,417 28,463 748,880 Accumulated depreciation (285,285 ) (16,040 ) (301,325 ) Net carrying value 435,132 12,423 447,555 December 31, 2021 Building Equipment Total Acquisition cost 650,906 30,559 681,465 Accumulated depreciation (283,426 ) (12,495 ) (295,921 ) Net carrying value 367,480 18,064 385,544 (5) Details of changes in right-of-use For the year ended December 31, 2020 Building Equipment Total Beginning balance 449,878 17,236 467,114 New contracts 224,494 6,831 231,325 Changes in contract 10,729 32 10,761 Termination (18,925 ) (574 ) (19,499 ) Depreciation (224,946 ) (11,716 ) (236,662 ) Business combination 3,210 381 3,591 Others (9,308 ) 233 (9,075 ) Ending balance 435,132 12,423 447,555 For the year ended December 31, 2021 Building Equipment Total Beginning balance 435,132 12,423 447,555 New contracts 172,812 16,848 189,660 Changes in contract 9,064 225 9,289 Termination (46,563 ) (1,742 ) (48,305 ) Depreciation (228,403 ) (10,665 ) (239,068 ) Business combination — — — Others 25,438 975 26,413 Ending balance 367,480 18,064 385,544 |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of detailed information about intangible assets [abstract] | |
Intangible Assets | 16. INTANGIBLE ASSETS (1) Details of intangible assets are as follows (Unit: Korean Won in millions): December 31, 2020 Goodwill Industrial Development Other Membership Construction Total Acquisition cost 334,290 1,810 582,998 1,114,615 39,454 6,669 2,079,836 Accumulated amortization — (1,101 ) (374,125 ) (875,636 ) — — (1,250,862 ) Accumulated impairment losses — — — (33,534 ) (3,363 ) — (36,897 ) Net carrying value 334,290 709 208,873 205,445 36,091 6,669 792,077 December 31, 2021 Goodwill Industrial Development Other Membership Construction Total Acquisition cost 345,449 2,057 661,959 1,174,565 40,955 717 2,225,702 Accumulated amortization — (1,334 ) (454,251 ) (947,830 ) — — (1,403,415 ) Accumulated impairment losses — — — (33,553 ) (3,348 ) — (36,901 ) Net carrying value 345,449 723 207,708 193,182 37,607 717 785,386 (2) Details of changes in intangible assets are as follows (Unit: Korean Won in millions): For the year ended December 31, 2019 Goodwill Industrial Development Other Membership Construction Total Beginning balance 153,602 562 240,320 169,024 23,597 10,415 597,520 Acquisitions — 318 41,373 100,671 4,931 8,754 156,047 Disposal — — — — (675 ) — (675 ) Amortization (*) — (188 ) (64,415 ) (63,810 ) — — (128,413 ) Impairment losses — — — (25,858 ) (939 ) — (26,797 ) Transfer — — 7,915 7,188 — (15,103 ) — Foreign currencies translation adjustments 10,234 — — 2,292 60 — 12,586 Business combination 186,846 — — 44,365 2,143 — 233,354 Others — — — 275 213 — 488 Ending balance 350,682 692 225,193 234,147 29,330 4,066 844,110 (*) Amortization of other intangible assets amounting to 22,317 million Won is included in other operating expenses. For the year ended December 31, 2020 Goodwill Industrial Development Other Membership Construction Total Beginning balance 350,682 692 225,193 234,147 29,330 4,066 844,110 Acquisitions — 233 53,273 41,329 5,183 3,197 103,215 Disposal — — — — (782 ) — (782 ) Amortization (*) — (216 ) (71,620 ) (64,822 ) — — (136,658 ) Impairment losses — — — (7,692 ) (99 ) — (7,791 ) Transfer — — 428 164 — (592 ) — Foreign currencies translation adjustments (14,802 ) — — (2,208 ) (15 ) (2 ) (17,027 ) Business combination — — 2,403 4,199 2,079 — 8,681 Others (1,590 ) — (804 ) 328 395 — (1,671 ) Ending balance 334,290 709 208,873 205,445 36,091 6,669 792,077 (*) Amortization of other intangible assets amounting to 11,890 million Won is included in other operating expenses. For the year ended December 31, 2021 Goodwill Industrial Development Other Membership Construction Total Beginning balance 334,290 709 208,873 205,445 36,091 6,669 792,077 Acquisitions — 247 74,444 49,137 2,437 977 127,242 Disposal — — — — (347 ) — (347 ) Amortization (*) — (233 ) (80,128 ) (68,950 ) — — (149,311 ) Impairment losses — — — (18 ) (93 ) — (111 ) Transfer — — 4,518 2,946 — (7,464 ) — Foreign currencies translation adjustments 11,159 — — 2,952 232 — 14,343 Others — — 1 1,670 (713 ) 535 1,493 Ending balance 345,449 723 207,708 193,182 37,607 717 785,386 (*) Amortization of other intangible assets amounting to 13,963 million Won is included in other operating expenses. (3) Goodwill 1) Details of allocated goodwill based on each cash-generating unit as of December 31, 2020 and 2021 are as follows (Unit: Korean won in million): Cash-generating unit (*1) December 31, December 31, Woori Asset Management Corp. 43,036 43,036 Woori Global Asset Management Co., Ltd. 2,030 2,030 Woori Asset Trust Co., Ltd. 141,780 141,780 PT Bank Woori Saudara Indonesia 1906 Tbk (*2) 92,831 99,667 WOORI BANK (CAMBODIA) PLC (*3) 47,924 52,082 Others 6,689 6,854 Total 334,290 345,449 (*1) Allocated to the cash-generating unit that will benefit from the synergy effect of the business combination, and the cash-generating unit is generally comprised of the operating segment or sub-sectors. (*2) The Group has acquired Saudara Bank to expand retail sales in Indonesia and recognized the goodwill as it is expected to strengthen the competitiveness by securing a local sales network in Indonesia. (*3) The Group has acquired VisionFund Cambodia to expand Cambodian retail sales, and recognized goodwill based on the economies of scale and acquired customer base. 2) Impairment test The recoverable amount of the cash-generating unit is measured at larger amount among the fair value less costs to sell or the value to use. The net fair value is calculated by deducting costs of disposal from the amount received from the sale of the cash-generating unit in an arm’s length transaction between the parties with reasonable judgment and willingness to negotiate. In case of difficulty in measuring this amount, the sale amount of a similar cash-generating unit in the past market is calculated by reflecting the characteristics of the cash-generating unit. If reliable information related to fair value less costs to sell is not available, value in use is considered as recoverable amount. Value in use is the present value of future cash flows expected to be generated by the cash-generating unit. Future cash flows are estimated based on the latest financial budget approved by the management, with an estimated period of up to five years. The Group applied 0.0%—1.0% growth rate to estimate future cash flow for the period over five years. The main assumptions used to estimate cash flows are about the size of the market and the share of the group. The appropriate discount rate for discounting future cash flows is the pre-tax Category Woori Asset Woori Asset Woori PT Bank WOORI Discount rate (%) 18.72 17.82 17.52 11.96 12.60 Terminal growth rate (%) 1.0 1.0 1.0 0.0 0.0 Recoverable amount 326,205 137,578 41,967 606,626 369,782 Carrying amount 262,116 132,601 29,954 592,136 357,902 As a result of the impairment test on goodwill, it is determined that the carrying amount of the cash-generating unit to which the goodwill has been allocated will not exceed the recoverable amount. 3) Sensitivity analysis The sensitivity of the fair value measurement to changes in significant but unobservable inputs used in measuring fair value is as follows (Unit: Korean Won in millions): Category Woori Asset Woori Asset Woori Global Asset PT Bank Woori WOORI Discount rate (%) Increase by 1.0% point (29,949 ) (6,638 ) (1,999 ) (62,532 ) (30,603 ) Decrease by 1.0% point 34,863 7,741 2,356 74,238 35,994 Terminal growth rate (%) Increase by 1.0% point 18,640 4,179 1,318 47,187 20,339 Decrease by 1.0% point (*) (16,089 ) (3,603 ) (1,123 ) — — (*) In the case of PT Bank Woori Saudara Indonesia 1906 Tbk and and WOORI BANK (CAMBODIA) PLC, declining cases are excluded from the analysis as the permanent growth rate was assumed to be 0%. |
Assets held for sale
Assets held for sale | 12 Months Ended |
Dec. 31, 2021 | |
Non-current 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 distribution (sale) are as follows (Unit: Korean Won in millions): Assets (*) December 31, December 31, Premises and equipment 2,130 8,900 Investments of associates 50,411 11,472 Others 7,461 5,955 Total 60,002 26,327 (*) The Group classifies assets as held for sale that are highly likely to be sold within one year from December 31, 2020 and The Group measured assets held for sale at the lower of their net fair value or carrying amount. The Group has decided to sell some of the premises and equipment through internal consultation during the current term and classifies the premises as non-current |
Assets Subject to Lien and Asse
Assets Subject to Lien and Assets Acquired Through Foreclosures | 12 Months Ended |
Dec. 31, 2021 | |
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, 2020 Collateral given to Amount Reason for collateral Financial assets at FVTPL Korean treasury and government bonds and others Kookmin bank and others 259,835 Related to bonds sold under repurchase agreements(*) Korean treasury and government bonds and others Korea Securities Depository 157,021 Securities borrowing collateral Korean treasury and government bonds and others Shinhan Investment Corp. 42,428 Collateral for futures transaction Korean financial institutions’ debt securities and others Korea Securities Depository 148,961 Securities borrowing collateral Korean financial institutions’ debt securities and others Kookmin bank and others 150,496 Related to bonds sold under repurchase agreements (*) Korean financial institutions’ debt securities and others TIMEFOLIO Co., Ltd. 19,958 Collateral for futures transaction Financial assets at FVTOCI Korean treasury and government bonds and others Korea Securities Depository 473 Related to bonds sold under repurchase agreements(*) Korean financial institutions’ debt securities and others The BOK and others 1,621,941 Settlement risk and others Foreign financial institutions’ debt securities STANDARD BANK LONDON LTD 137,842 Related to bonds sold under repurchase agreements (*) Securities at amortized cost Korean treasury and government bonds and others The BOK and others 8,111,193 Settlement risk and others Foreign financial institutions’ debt securities NATIXIS and others 40,987 Related to bonds sold under repurchase agreements (*) Foreign financial institutions’ debt securities Federal Reserve Bank 14,377 Related to the borrowing limit Loan at amortized cost and other financial assets Due from banks in local currency Daishin AMC Co.,Ltd. and others 1,500 Right of pledge Other due from banks in local currency Samsung Securities Co., Ltd. and others 39,005 Margin deposit for futures or option December 31, 2020 Collateral given to Amount Reason for collateral Other due from banks in local currency Korea Federation of Savings Banks 47,805 Domestic exchange business Other due from banks in foreign currencies JPMORGAN CHASE BANK and others 755,177 Collateral for CSA and others Foreign currency loan bonds Industrial and Commercial Bank of China 50,088 Related to bonds sold under repurchase agreements (*) Mortgage loan Public offering 3,190,889 Related to covered bonds Investment real estate Land and building Credit Counselling & Recovery Service and others 5,676 Right to collateral and others Premises and equipment Land and building Credit Counselling & Recovery Service and others 1,969 Right to collateral and others Total 14,797,621 (*) 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). The asset is equivalent to a mortgage-backed debt security. December 31, 2021 Collateral given to Amount Reason for collateral Financial assets at FVTPL Korean treasury and government bonds and others Nonghyup bank and others 248,009 Related to bonds sold under repurchase agreements (*) Korean treasury and government bonds and others Korea Securities Depository 179,079 Securities borrowing collateral Korean treasury and government bonds and others VI Investment, etc. 3,008 Future trading collateral Korean financial institutions’ debt securities and others Korea Securities Depository 205,783 Securities borrowing collateral Korean financial institutions’ debt securities and others KOREA SECURITIES FINANCE CORPORATION 54,419 Collateral for securities lending purposes Korean financial institutions’ debt securities and others Shinhan Investment Corp. 5,352 Collateral for futures transaction December 31, 2021 Collateral given to Amount Reason for collateral Korean corporate bonds and others Korea Securities Depository 299,161 Securities borrowing collateral Korean capital contributions and others Korea Software Financial Cooperative 101 Bid guarantee, etc. Financial assets at FVTOCI Korean Korea Securities Depository 470 Related to bonds sold under repurchase agreements(*) Korean financial institutions’ debt securities and others The BOK and others 3,666,849 Settlement risk and others Foreign financial institutions’ debt securities STANDARD BANKLONDON LTD 126,595 Related to bonds sold under repurchase agreements(*) Securities at amortized cost Korean treasury and government bonds and others The BOK and others 8,977,748 Settlement risk and others Foreign financial institutions’ debt securities NATIXIS and others 38,995 Related to bonds sold under repurchase agreements(*) Foreign financial institutions’ debt securities FHLB ADVANCE and others 10,375 Related to the borrowing limit Loan at amortized cost and other financial assets Due from banks in local currency Daishin AMC Co.,Ltd. and others 1,500 Right of pledge Other due from banks in local currency Samsung Securities Co., Ltd. and others 25,338 Margin deposit for futures or option Other due from banks in foreign currency Yuanta Securities Korea Co., Ltd., etc. 1,051,006 Overseas futures option deposit, etc. Mortgage loan Public offering 2,494,333 Related to covered bonds Investment real estate Land and building Credit Counselling & Recovery Service and others 1,910 Right to collateral and others Premises and equipment Land and building Credit Counselling & Recovery Service and others 5,520 Right to collateral and others Total 17,395,551 (*) 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). The asset is equivalent to a mortgage-backed debt security. (2) As of December 31, 2020 and 2021, assets acquired through foreclosures are as follows (Unit: Korean Won in millions): December 31, December 31, Investment properties Land 5,425 2,185 Building — 181 Sub-total 5,425 2,366 Other assets Land for non-business 10,684 21,156 Building for non-business (*1) 1,966 1,526 Movables for non-business (*2) 155 120 Real estate assessment provision for non-business (670 ) (1,129 ) Sub-total 12,135 21,673 Assets held for sale Land 5,477 2,980 Building 3,568 2,557 Others 546 418 Sub-total 9,591 5,955 Total 27,151 29,994 (*1) The cumulative depreciation amount as of December 31, 2020 and 2021 is 566 million Won and 716 million Won, respectively. (*2) The cumulative depreciation amount as of December 31, 2020 and 2021 is 854 million Won and 907 million Won, respectively. (3) Securities loaned are as follows (Unit: Korean Won in millions): December 31, 2020 December 31, Loaned to Financial assets at FVTOCI Korean treasury and government bonds 100,345 98,535 Korea Securities Finance Corporation Securities loaned are lending of specific securities to borrowers who agree to return the same amount of the same security at the end of lending period, and therefore the Group did not derecognize from the consolidated financial statements. (4) Collaterals held that can be disposed and re-subjected Fair values of collaterals held that can be disposed and re-subjected December 31, 2020 Fair values of collaterals Fair values of collaterals were disposed re-subjected Securities 10,573,982 — December 31, 2021 Fair values of collaterals Fair values of collaterals were disposed re-subjected Securities 10,785,412 — |
Other Assets
Other Assets | 12 Months Ended |
Dec. 31, 2021 | |
Miscellaneous assets [abstract] | |
Other Assets | 19. OTHER ASSETS Details of other assets are as follows (Unit: Korean Won in millions): December 31, December 31, Lease assets 1,116,175 1,782,887 Prepaid expenses 170,820 189,808 Advance payments 28,256 61,042 Assets for non-business use 12,135 16,248 Others 21,608 38,965 Total 1,348,994 2,088,950 |
Financial Liabilities at FVTPL
Financial Liabilities at FVTPL | 12 Months Ended |
Dec. 31, 2021 | |
Financial liabilities at fair value through profit or loss [abstract] | |
Financial Liabilities at FVTPL | 20. FINANCIAL LIABILITIES AT FVTPL (1) Financial liabilities at FVTPL are as follows (Unit: Korean Won in millions): December 31, December 31, Financial instruments at fair value through profit or loss measured at fair value 6,794,192 4,873,458 Financial liabilities at fair value through profit or loss designated as upon initial recognition 19,630 — Total 6,813,822 4,873,458 (2) Financial liabilities at fair value through profit or loss measured at fair value are as follows (Unit: Korean Won in millions): December 31, December 31, Deposits Gold banking liabilities 49,279 65,016 Borrowings Securities sold 285,026 241,174 Derivative liabilities 6,459,887 4,567,268 Total 6,794,192 4,873,458 (3) Financial liabilities at fair value through profit or loss designated as upon initial recognition as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, December 31, Equity-linked securities Equity-linked securities in short position 19,630 — These contacts are designated as financial liabilities at fair value through profit or loss because these contracts contain one or more embedded derivatives and are hybrid (combined) contracts in accordance with IFRS 9 Financial Instrument (4) There are no accumulated changes in credit risk adjustments to financial liabilities at fair value through profit or loss designated as upon initial recognition. The adjustment to reflect Group’s credit risk is considered in measuring the fair value of equity-linked securities index. 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 19,630 — Nominal amount at maturity 25,780 — Difference (6,150 ) — |
Deposits Due to Customers
Deposits Due to Customers | 12 Months Ended |
Dec. 31, 2021 | |
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 12,454,024 18,029,136 Deposits at termination 242,397,664 254,319,473 Mutual installment 26,319 24,620 Deposits on notes payables 2,647,492 2,954,066 Deposits on CMA 110,413 92,360 Certificate of deposits 2,072,389 3,586,423 Other deposits 1,372,461 1,286,719 Sub-total 261,080,762 280,292,797 Deposits in foreign currencies: Deposits in foreign currencies 30,408,762 37,643,900 Present value discount (12,245 ) (36,826 ) Total 291,477,279 317,899,871 |
Borrowings And Debentures
Borrowings And Debentures | 12 Months Ended |
Dec. 31, 2021 | |
Borrowings [abstract] | |
Borrowings And Debentures | 22. BORROWINGS AND DEBENTURES (1) Details of borrowings are as follows (Unit: Korean Won in millions): December 31, 2020 Lenders Interest rate Amount Borrowings in local currency: Borrowings from The BOK The BOK 0.3 2,678,120 Borrowings from government funds Small Enterprise And Market Service and others 0.0 ~ 5.0 2,155,129 Others The Korea Development Bank and others 0.0 ~ 5.5 7,255,938 Sub-total 12,089,187 Borrowings in foreign currencies Borrowings in foreign currencies JPMorgan Chase & Co. and others (0.4) ~ 7.3 7,573,722 Bills sold Others 0.0 ~ 0.9 8,924 Call money Bank and others (0.3) ~ 3.8 416,370 Bonds sold under repurchase agreements Other financial institutions (0.5) ~ 10.6 657,823 Present value discount (560 ) Total 20,745,466 December 31, 2021 Lenders Interest rate Amount Borrowings in local currency: Borrowings from The BOK The BOK 0.3 3,144,897 Borrowings from government funds Small Enterprise And Market Service and others 0.0 ~ 2.4 2,053,611 Others The Korea Development Bank and others 0.0 ~ 3.1 9,984,518 Sub-total 15,183,026 Borrowings in foreign currencies Borrowings in foreign currencies JPMorgan Chase & Co. and others (0.5) ~ 7.3 8,545,077 Bills sold Others 0.0 ~ 1.3 9,111 Call money Bank and others (0.5) ~ 2.6 317,961 Bonds sold under repurchase agreements Other financial institutions (0.5) ~ 10.6 749,976 Present value discount (49,692 ) Total 24,755,459 (2) Details of debentures are as follows (Unit: Korean Won in millions): December 31, 2020 December 31, 2021 Interest rate Amount Interest rate Amount Face value of bond (*) Ordinary bonds 0.8 ~ 4.5 29,623,445 0.7 ~ 3.6 37,004,942 Subordinated bonds 1.9 ~ 5.9 6,955,515 1.9 ~ 5.1 6,767,442 Other bonds 0.6 ~ 17.0 925,677 0.8 ~ 17.0 911,190 Sub-total 37,504,637 44,683,574 Discounts on bonds (25,279 ) (29,710 ) Total 37,479,358 44,653,864 (*) Included debentures under fair value hedge amounting to and 2,767,208 million Won and 2,366,724 million Won as of December 31, 2020 and 2021 respectively. Also, debentures under cash flow hedge amounting to 857,531 million Won and 819,298 million Won are included as of December 31, 2020 and 2021 respectively. |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2021 | |
Provisions [abstract] | |
Provisions | 23. PROVISIONS (1) Details of provisions are as follows (Unit: Korean Won in millions): December 31, 2020 December 31, 2021 Asset retirement obligation 68,402 80,777 Provisions for guarantees (*1) 89,592 74,866 Provisions for unused loan commitments 122,155 112,296 Other provisions (*2) 221,494 308,195 Total 501,643 576,134 (*1) Provisions for guarantees includes provision for financial guarantee of 66,232 million Won and 53,321 million Won as of December 31, 2020 and 2021, respectively. (*2) Other provisions consist of provision for litigation, loss compensation 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, 2019 Stage1 Stage2 Stage3 Total Beginning balance 44,903 33,760 11,098 89,761 Transfer to 12-month 13,568 (13,568 ) — — Transfer to expected credit loss for the entire period (317 ) 532 (215 ) — Transfer to credit-impaired financial assets (30 ) (32 ) 62 — Provisions used (27,711 ) — — (27,711 ) Net provision (reversal) of unused amount (14,400 ) 5,611 4,437 (4,352 ) Others (*) 34,788 — — 34,788 Ending balance 50,801 26,303 15,382 92,486 (*) Others have occurred as a result of new financial guarantee contract valued at initial fair value. For the year ended December 31, 2020 Stage1 Stage2 Stage3 Total Beginning balance 50,801 26,303 15,382 92,486 Transfer to 12-month 81 (60 ) (21 ) — Transfer to expected credit loss for the entire period (396 ) 1,639 (1,243 ) — Transfer to credit-impaired financial assets (12 ) (13 ) 25 — Net provision (reversal) of unused amount (1,124 ) (11,124 ) (6,100 ) (18,348 ) Business combination 14,501 — — 14,501 Others (*) 953 — — 953 Ending balance 64,804 16,745 8,043 89,592 (*) Includes the impact from change of financial guarantee liability. For the year ended December 31, 2021 Stage1 Stage2 Stage3 Total Beginning balance 64,804 16,745 8,043 89,592 Transfer to 12-month 2,146 (2,144 ) (2 ) — Transfer to expected credit loss for the entire period (162 ) 193 (31 ) — Transfer to credit-impaired financial assets (3 ) (162 ) 165 — Provisions used (6,964 ) — — (6,964 ) Net provision (reversal) of unused amount (9,929 ) 636 (1,408 ) (10,701 ) Others (*) 2,938 1 — 2,939 Ending balance 52,830 15,269 6,767 74,866 (*) Includes the impact from change of financial guarantee liability. 2) Provisions for unused loan commitment For the year ended December 31, 2019 Stage1 Stage2 Stage3 Total Beginning balance 74,624 45,285 1,626 121,535 Transfer to 12-month 11,771 (11,024 ) (747 ) — Transfer to expected credit loss for the entire period (1,813 ) 1,945 (132 ) — Transfer to credit-impaired financial assets (213 ) (275 ) 488 — Net provision (reversal) of unused amount (19,394 ) 7,233 3,117 (9,044 ) Others 63 — — 63 Ending balance 65,038 43,164 4,352 112,554 For the year ended December 31, 2020 Stage1 Stage2 Stage3 Total Beginning balance 65,038 43,164 4,352 112,554 Transfer to 12-month 8,006 (7,500 ) (506 ) — Transfer to expected credit loss for the entire period (2,704 ) 3,299 (595 ) — Transfer to credit-impaired financial assets (174 ) (186 ) 360 — Net provision (reversal) of unused amount (6,653 ) 16,949 (422 ) 9,874 Business combination 7 — — 7 Others (280 ) — — (280 ) Ending balance 63,240 55,726 3,189 122,155 For the year ended December 31, 2021 Stage1 Stage2 Stage3 Total Beginning balance 63,240 55,726 3,189 122,155 Transfer to 12-month 15,522 (14,965 ) (557 ) — Transfer to expected credit loss for the entire period (2,338 ) 3,129 (791 ) — Transfer to credit-impaired financial assets (110 ) (226 ) 336 — Net provision (reversal) of unused amount (9,005 ) 871 (1,857 ) (9,991 ) Others 131 1 — 132 Ending balance 67,440 44,536 320 112,296 (3) Changes in asset retirement obligation for the years ended December 31, 2019, 2020 and 2021 are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Beginning balance 67,200 66,485 68,402 Provisions provided 2,729 806 3,235 Provisions used (2,276 ) (2,958 ) (5,066 ) Reversal of provisions unused (2,926 ) (106 ) (947 ) Unwinding of discount 435 459 495 Business combination 329 219 — Increase (decrease) of restoration expense, etc. 994 3,497 14,658 Ending balance 66,485 68,402 80,777 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, 2021, 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 for the years ended December 31, 2019, 2020 and 2021 are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Beginning balance 63,637 172,455 221,494 Provisions provided 109,875 232,629 85,706 Provisions used (6,123 ) (181,433 ) (10,375 ) Reversal of provisions unused (171 ) (2,345 ) (718 ) Foreign currencies translation adjustments 1,193 606 11,957 Transfer — (344 ) — Business combination 3,820 — — Others 224 (74 ) 131 Ending balance 172,455 221,494 308,195 (5) Others 1) The Group has been offering Korean won settlement services for trade with Korea and Iran; however, the Group has stopped the services for trade in line with U.S. economic sanctions on September 23, 2019. The Group resumed the service humanitarian goods trade only since July 13, 2020. In connection with these services, the Group is currently being investigated by the U.S. government agencies including the U.S. prosecutors (United States Attorney’s Office and New York State Attorney General’s Office) and New York State Financial Supervisory Service 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 U.S. In this regard, the Bureau of Foreign Assets Control concluded its investigation in December 2020 without taking any additional sanctions, but the investigation procedures of the U.S. Public Prosecutors’ Office and the New York State Financial Supervisory Service have yet to be completed. 2) The Group recognized the provision for the estimated compensation amount related to the miss-selling of the Derivative Linked Fund (DLF) incurred during 2019 and a fine expected to be imposed by the Financial Supervisory Service as the best estimate for the expenditure required to meet its obligations at the end of the reporting period. 3) For the year ended December 31, 2021, the Group recognized the provisions for the required expenditure as the best estimate to fulfill its obligations as of December 31, 2021 due to the expected losses of clients arising from the delay in the redemption of funds by Lime Asset Management and the dispute settlement by the Financial Supervisory Service. As of December 31, 2021, the provision for this case is 114.9 billion Won and the advance payment is 7.2 billion Won. 4) On October 22, 2021, the Group made a resolution to pay in advance for Platform Asia funds, etc., which are delayed in redemption at the Board of Directors Meeting of Woori Bank, the subsidiary. Provisions for estimated compensation amounts related to the prepayment was recognized as the best estimate of the expenditure. As of December 31, 2021, the sales revenue for Platform Asia, Heritage DLS, and Gen2 DLS sold 85 billion won, 22.3 billion won, and 90.2 billion won, respectively, and provisions is 35.7 billion won, 13.4 billion won, and 10.8 billion won, respectively. In addition, the provision for the expected fine related to incomplete sales of Heritage DLS is 700 million won. |
Net Defined Benefit Liability (
Net Defined Benefit Liability (Asset) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of defined benefit plans [abstract] | |
Net Defined Benefit Liability (Asset) | 24. NET DEFINED BENEFIT LIABILITY(ASSET) The Group’s pension plan is based on the defined benefit retirement pension 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 salary 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 1,610,680 1,618,098 Fair value of plan assets (1,564,101 ) (1,591,458 ) Net defined benefit liabilities (*) 46,579 26,640 (*) Net defined benefit liability of 46,579 million Won and 26,640 million Won as of December 31, 2020 and 2021 is the subtracted amount of the net defined benefit asset of 5,658 million Won and 21,346 million Won from the net defined benefit liability of 52,237 million Won and 47,986 million Won. (2) Changes in the carrying value of defined benefit obligation are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Beginning balance 1,275,020 1,442,859 1,610,680 Transfer-in 93 — — Current service cost 163,369 174,509 178,416 Interest cost 32,693 34,653 39,814 Remeasurements Financial assumption 32,831 (20,838 ) (92,367 ) Demographic assumptions 49,453 4,161 (251 ) Experience adjustment (33,518 ) (4,481 ) (12,155 ) Retirement benefit paid (79,908 ) (55,864 ) (106,050 ) Foreign currencies translation adjustments 179 (119 ) 165 Business combination 4,674 34,001 — Others (2,027 ) 1,799 (154 ) Ending balance 1,442,859 1,610,680 1,618,098 (3) Changes in the plan assets are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Beginning balance 1,101,911 1,352,971 1,564,101 Transfer-in 93 — — Interest income 30,937 34,534 40,927 Remeasurements 125 (7,666 ) (15,022 ) Employer’s contributions 292,095 211,505 103,251 Retirement benefit paid (76,304 ) (52,627 ) (99,523 ) Business combination 6,369 27,599 — Others (2,255 ) (2,215 ) (2,276 ) Ending balance 1,352,971 1,564,101 1,591,458 (4) Fair value of plan assets as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, December 31, Cash and due from banks 1,564,101 1,591,458 Meanwhile, among plan assets, realized returns on plan assets amount to 26,868 million Won and 25,905 million Won for the years ended December 31, 2020 and 2021, respectively. The contribution expected to be paid in the next accounting year amounts to 162,374 million Won. (5) Amounts related to the defined benefit plan that are recognized in the consolidated statements of comprehensive income are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Current service cost 163,369 174,509 178,416 Net interest income (expense) 1,756 119 (1,113 ) Cost recognized in net income 165,125 174,628 177,303 Remeasurements (*) 48,641 (13,492 ) (89,751 ) Cost recognized in total comprehensive income 213,766 161,136 87,552 (*) Amount before tax Meanwhile, retirement benefits related to defined contribution plans recognized as expenses are 3,297 million Won, 3,827 million Won and 4,494 million Won for the years ended December 31, 2019, 2020 and 2021, respectively. (6) Key actuarial assumptions used in net defined benefit liability measurement are as follows: December 31, 2019 December 31, 2020 December 31, 2021 Discount rate 2.18 ~ 2.50% 2.13% ~ 2.97% 2.40% ~ 3.49% Future wage growth rate 1.89 ~ 6.00% 2.05% ~ 7.00% 2.03% ~ 5.56% 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 a minimum of 5.49 to a maximum 11.4 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, 2020 December 31, 2021 Discount rate Increase by 1% point (165,754 ) (161,428 ) Decrease by 1% point 195,475 189,630 Future wage growth rate Increase by 1% point 193,149 188,392 Decrease by 1% point (167,037 ) (163,431 ) |
Other Financial Liabilities and
Other Financial Liabilities and Other Liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Miscellaneous liabilities [abstract] | |
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, 2020 December 31, Other financial liabilities: Accounts payable 4,028,639 7,031,366 Accrued expenses 2,049,401 2,070,639 Borrowings from trust accounts 2,984,031 3,107,456 Agency business revenue 466,485 433,041 Foreign exchange payables 789,189 782,176 Domestic exchange settlement credits 180,251 6,708,220 Lease liabilities 407,431 343,213 Other miscellaneous financial liabilities 3,317,358 3,772,437 Present value discount (6,968 ) (15,322 ) Sub-total 14,215,817 24,233,226 Other liabilities: Unearned income 254,702 291,147 Other miscellaneous liabilities 219,111 265,706 Sub-total 473,813 556,853 Total 14,689,630 24,790,079 |
Derivatives
Derivatives | 12 Months Ended |
Dec. 31, 2021 | |
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, 2020 Assets Liabilities Nominal amount For cash For fair hedge For trading For cash For fair hedge For trading Interest rate: Futures 184,413 — — — — — — Swaps 137,057,240 — 174,820 318,545 1,476 28 524,190 Purchase options 330,000 — — 6,271 — — — Written options 285,440 — — — — — 5,419 Currency: Futures 2,546 — — — — — — Forwards 105,146,634 — — 2,541,957 — — 2,848,980 Swaps 87,249,320 — — 3,325,135 63,265 — 2,415,610 Purchase options 1,147,877 — — 59,329 — — — Written options 1,632,048 — — — — — 23,271 Equity: Futures 123,742 — — — — — — Forwards 11 — — — — — — Swaps 269,039 — — — — — 12,533 Purchase options 9,863,110 — — 650,505 — — — Written options 10,369,009 — — — — — 629,884 Total 353,660,429 — 174,820 6,901,742 64,741 28 6,459,887 December 31, 2021 Assets Liabilities Nominal amount For cash For fair hedge For trading For cash For fair hedge For trading Interest rate: Futures 118,423 — — — — — — Forwards 340,000 — — 16,434 — — — Swaps 134,196,188 351 95,103 136,185 — 20,287 305,443 Purchase options 170,000 — — 3,959 — — — Written options 340,000 — — — — — 8,552 Currency: Futures 7,445 — — — — — — Forwards 114,072,910 — — 2,466,893 — — 993,823 Swaps 101,117,559 11,310 — 1,444,634 7,297 — 2,345,735 Purchase options 1,079,610 — — 10,968 — — — Written options 1,686,787 — — — — — 8,952 Equity: Futures 337,916 — — — — — — Forwards 233 — — 64 — — — Swaps 642,963 — — 27,031 — — 3,784 Purchase options 17,503,553 — — 696,963 — — — Written options 19,106,573 — — — — — 900,979 Total 390,720,160 11,661 95,103 4,803,131 7,297 20,287 4,567,268 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 The hedging relationships the entity applies fair value hedge accounting and cash flow hedge accounting to are affected by interest rate which is related with Interest Rate Benchmark Reform. The interest rates to which the hedging relationships are exposed are USD 1M LIBOR, USD 3M LIBOR, AUD 3M BBSW and 3M EURIBOR. The nominal amounts of hedging instruments related to 1M LIBOR, 3M LIBOR, 3M BBSW and 3M EURIBOR in the hedging relationships of the Group are USD 470,000,000, USD 1,850,000,000, AUD 150,000,000 and EUR 26,591,163 respectively. The entity pays close attention to discussions in the market and industry regarding the applicable alternative benchmark interest rates for the exposed interest rate. The entity judges related uncertainty is expected to be no longer present when the exposed interest rates are replaced by the applicable benchmark interest rates. 1) Fair value hedge As of the December 31, 2021, the Group has applied fair value hedge on fixed interest rate foreign currency denominated debentures amounting to 2,366,724 million Won and foreign currency borrowings amounting to 35,694 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 of hedging instrument to the face value of the hedged item. 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 fluctuations in the timing of the cash flow of the hedged item, price margin set by counterparty of hedging instrument, and unilateral change in credit risk of any party of 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 by 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 plus spread, AUD BBSW 3M plus spread and EURIBOR 3M 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 December 31, 2021, the Group has applied cash flow hedge on local currency denominated debentures amounting to 49,977 million Won, debentures on foreign currency amounting to 769,322 million Won. The Group’s hedging strategies are to ① Mitigate risks of cash flow fluctuation from variable interest rate debentures on local currency 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; 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 and ④ Mitigate the risks of cash flow fluctuation in variable interest rate foreign currency borrowings resulting from changes in market interest rates and designate it as a hedging instrument through entering into currency swap contracts and interest rate swap contracts. 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 in local currency 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 in 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 interest rate swap contract, currency swap contract and value of the hedged item will generally fluctuate in opposite direction. (3) The nominal amounts of the hedging instrument are as follows (Unit: USD, AUD, EUR, SGD and Korean Won in millions): December 31, 2020 1 year or less 1 year to 5 More than 5 Total Fair value hedge Interest rate risk Interest rate swap (USD) 1,000,000,000 1,000,000,000 300,000,000 2,300,000,000 Interest rate swap (AUD) — 150,000,000 — 150,000,000 Cash flow hedge Interest rate risk Interest rate swap (KRW) 100,000 50,000 — 150,000 Foreign currencies translation risk and interest rate risk Currency swap (USD) 130,000,000 470,000,000 — 600,000,000 Foreign currencies translation risk Currency swap (SGD) 68,000,000 — — 68,000,000 December 31, 2021 1 year or less 1 year to 5 More than 5 Total Fair value hedge Interest rate risk Interest rate swap (USD) — 1,550,000,000 300,000,000 1,850,000,000 Interest rate swap (AUD) — 150,000,000 — 150,000,000 Interest rate swap (EUR) — 26,591,163 — 26,591,163 Cash flow hedge Interest rate risk Interest rate swap (KRW) — 50,000 — 50,000 Foreign currencies translation risk and interest rate risk Currency swap (USD) 200,000,000 270,000,000 — 470,000,000 Foreign currencies translation risk Currency swap (USD) — 180,000,000 — 180,000,000 (4) The average interest rate and average currency rate of the hedging instrument as of December 31, 2020 and 2021 are as follows: December 31, 2020 Average interest rate and average exchange rate Fair value hedge Interest rate risk Interest rate swap (USD) Fixed 4.22% receipt and Libor 3M+1.71% floating paid Fixed 5.88% receipt and Libor 6M+2.15% floating paid Interest rate swap (AUD) Fixed 0.84% receipt and BBSW 3M+0.72% paid Cash flow hedge Interest rate risk Interest rate swap (KRW) KRW 3Y CMS+0.40% receipt, 2.38% paid KRW CD+0.69% receipt, 2.06% paid KRW CD+0.33% receipt, 1.68% paid Foreign currencies translation risk and interest rate risk Currency swap (USD) USD 3M Libor+0.80% receipt, KRW 1.45% paid, USD/KRW = 1,155 Foreign currencies translation risk Currency swap (SGD) SGD 1.91% receipt, KRW 1.98% paid, SGD/KRW = 827 December 31, 2021 Average interest rate and average exchange rate Fair value hedge Interest rate risk Interest rate swap (USD) Fixed 3.62% receipt and Libor 3M + 1.45% floating paid Interest rate swap (AUD) Fixed 0.84% receipt and BBSW 3M+0.72% paid Interest rate swap (EUR) EURIBOR 3M + 0.09% receipt and 1.5% fixed paid Cash flow hedge Interest rate risk Interest rate swap (KRW) KRW CD+0.33% receipt, 1.68% paid Foreign currencies translation risk and interest rate risk Currency swap (USD) USD 1M Libor+0.70% receipt, KRW 0.93% paid, USD/KRW = 1,206.60 Foreign currencies translation risk Currency swap (USD) USD 1.50% receipt, KRW 1.57% paid, USD/KRW = 1,140.50 (5) The amounts related to items designated as hedging instruments are as follows (Unit: USD, AUD, EUR, SGD and Korean Won in millions): December 31, 2020 Nominal amounts of Carrying amounts of Line item in the statement Changing in fair Assets Liabilities Fair value hedge Interest rate risk Interest rate swap USD 2,300,000,000 174,820 28 Derivative assets (designated for hedging) 57,221 Interest rate swap AUD 150,000,000 Derivative liabilities (designated for hedging) Cash flow hedge Interest rate risk Interest rate swap KRW 150,000 — 1,476 Derivative liabilities (designated for hedging) (196 ) Foreign currency translation risk and interest rate risk Currency swap USD 600,000,000 — 62,893 Derivative liabilities (designated for hedging) (69,319 ) Foreign currency translation risk Currency swap SGD 68,000,000 — 373 Derivative liabilities (designated for hedging) (4,699 ) December 31, 2021 Nominal amounts of Carrying amounts of Line item in the statement Changing in fair Assets Liabilities Fair value hedge Interest rate risk Interest rate swap USD 1,850,000,000 95,086 20,287 Derivative assets (designated for hedging) Derivative liabilities (designated for hedging) (83,821 ) Interest rate swap AUD 150,000,000 Interest rate swap EUR 26,591,163 17 — 17 Cash flow hedge Interest rate risk Interest rate swap KRW 50,000 351 — Derivative liabilities (designated for hedging) 1,896 Foreign currency translation risk and interest rate risk Currency swap USD 470,000,000 3,631 7,297 Derivative liabilities (designated for hedging) 60,564 Foreign currency translation risk Currency swap USD 180,000,000 7,679 — Derivative liabilities (designated for hedging) 8,218 (6) Details of carrying amount to hedge and amount due to hedge accounting are as follows (Unit: Korean Won in millions): December 31, 2020 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 Debentures — 2,767,208 — 144,741 Debentures (59,073 ) — Cash flow hedge Interest rate risk Debentures — 149,936 — — Debentures 188 (909 ) Foreign currencies translation risk and interest rate risk Debentures — 651,704 — — Debentures 61,823 (95 ) Foreign currencies translation risk Debentures — 55,891 — — Debentures 6,564 (268 ) (*) After tax amount December 31, 2021 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 Debentures — 2,366,724 — 53,160 Debentures 100,343 — Foreign currency borrowing — 35,694 — — Foreign (17 ) (17 ) Cash flow hedge Interest rate risk Debentures — 49,977 — — Debentures (1,760 ) 281 Foreign currencies translation risk and interest rate risk Debentures — 556,607 — — Debentures (53,832 ) 5,859 Foreign currencies translation risk Debentures — 212,715 — — Debentures (7,609 ) (305 ) (*) 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): For the year ended December 31, 2019 Hedge ineffectiveness Line item in the profit or loss that Fair value hedge Interest rate risk 4,260 Other net operating income (expense) For the year ended December 31, 2020 Hedge ineffectiveness Line item in the profit or loss that Fair value hedge Interest rate risk (1,852 ) Other net operating income (expense) For the year ended December 31, 2021 Hedge ineffectiveness Line item in the profit or loss that Fair value hedge Interest rate risk 16,522 Other net operating income (expense) (8) Reclassification of profit or loss from other comprehensive income and equity related to cash flow hedges are as follows (Unit: Korean Won in millions): For the year ended December 31, 2019 Changes in Hedge Changes Line item Amounts Line item Cash flow hedge Interest rate risk (658 ) — — Other net operating income (expense) — Other net operating income (expense) Foreign currencies translation risk and interest rate risk 21,420 944 838 Other net operating income (expense) (23,541 ) Other net operating income (expense) Foreign currencies translation risk 7,638 1,601 560 Other net operating income (expense) (8,215 ) Other net operating income (expense) For the year ended December 31, 2020 Changes in Hedge Changes Line item Amounts Line item Cash flow hedge Interest rate risk (122 ) (74 ) — Other net operating income (expense) — Other net operating income (expense) Foreign currencies translation risk and interest rate risk (68,270 ) (1,049 ) 5,893 Other net operating income (expense) 64,762 Other net operating income (expense) Foreign currencies translation risk (3,677 ) (1,022 ) 320 Other net operating income (expense) 5,393 Other net operating income (expense) For the year ended December 31, 2021 Changes in Hedge Changes Line item Amounts Line item Cash flow hedge Interest rate risk 1,641 256 — Other net — Other net Foreign currencies translation risk and interest rate risk 60,394 169 (2,300 ) Other net (52,126 ) Other net Foreign currencies translation risk 8,476 (258 ) 416 Other net (9,045 ) Other net |
Deferred Day 1 Profits Or Losse
Deferred Day 1 Profits Or Losses | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Day One Profit Or Loss [Abstract] | |
Deferred Day 1 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 2019 2020 2021 Beginning balance 25,463 52,259 6,939 New transactions 53,289 22,901 49,523 Amounts recognized in losses (26,493 ) (68,221 ) (27,351 ) Ending balance 52,259 6,939 29,111 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, which is deferred and amortized to maturity using the effective interest method and reflected in profit or loss. The table above presents the difference yet to be realized as profit or losses . |
Equity
Equity | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Equity [Abstract] | |
Equity | 28. EQUITY (1) Details of equity as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, 2020 December 31, 2021 Capital Common stock capital 3,611,338 3,640,303 Hybrid securities 1,895,366 2,294,381 Capital surplus Paid in capital in excess of par 608,348 643,544 Others 17,763 38,841 Sub-total 626,111 682,385 Capital adjustments Treasury stocks — (3,819 ) Other adjustments (*1) (1,775,312 ) (1,747,242 ) Sub-total (1,775,312 ) (1,751,061 ) Accumulated other comprehensive income Financial assets at FVTOCI (9,833 ) (162,522 ) Changes in capital due to equity method (2,609 ) (138 ) Loss from foreign business translation (298,363 ) (63,781 ) Remeasurements of defined benefit plan (261,195 ) (195,944 ) Loss on evaluation of cash flow hedge (1,386 ) 5,553 Capital related to noncurrent assets held for sale 1,226 279 Sub-total (572,160 ) (416,553 ) Retained earnings (*2)(*3) 19,268,265 21,347,472 Non-controlling (*4) 3,672,237 3,008,176 Total 26,725,845 28,805,103 (*1) Included 178,060 million Won in capital transaction gains and losses recognized by Woori Bank and (formerly) Woori Financial Group in 2014 and 2,238,228 million Won due to the spin-off (*2) The regulatory reserve for credit losses (*3) The earned surplus reserve in retained earnings amounted to 62,830 million Won and 122,370 million Won as of December 31, 2020 and 2021 in accordance with the Article 53 of the Financial Holding Company Act. (*4) The hybrid securities issued by Woori Bank amounting to 3,105,070 million Won and 2,555,166 million Won as of December 31, 2020 and 2021, respectively, are recognized as non-controlling non-controlling (2) The number of authorized shares and others of the Group are as follows: December 31, 2020 December 31, 2021 Shares of common stock authorized 4,000,000,000 Shares 4,000,000,000 Shares Par value 5,000 Won 5,000 Won Shares of common stock issued 722,267,683 Shares 728,060,549 Shares Capital stock 3,611,338 million Won 3,640,303 million Won (3) The Parent company issued 5,792,866 new shares in the stock exchange process with the shareholders of Woori Financial Capital Co., Ltd., and the total number of issued shares changed from 722,267,683 shares as of December 31, 2020 to 728,060,549 shares as of December 31, 2021. (4) 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, 2020 December 31, Securities in local currency 2019-07-18 — 3.49 500,000 500,000 Securities in local currency 2019-10-11 — 3.32 500,000 500,000 Securities in local currency 2020-02-06 — 3.34 400,000 400,000 Securities in local currency 2020-06-12 — 3.23 300,000 300,000 Securities in local currency 2020-10-23 — 3.00 200,000 200,000 Securities in local currency 2021-04-08 — 3.15 — 200,000 Securities in local currency 2021-10-14 — 3.60 — 200,000 Issuance cost (4,634 ) (5,619 ) Total 1,895,366 2,294,381 The hybrid securities mentioned above do not have maturity date but are redeemable after 5 years from date of issuance. (5) Accumulated other comprehensive income Changes in the accumulated other comprehensive income are as follows (Unit: Korean Won in millions): For the year ended December 31, 2019 Beginning Increase (decrease) (*) Reclassification Income tax Ending balance Net gain (loss) on valuation of financial assets at FVTOCI (87,182 ) (24,180 ) 43,021 (3,573 ) (71,914 ) Changes in capital due to equity method 302 (1,420 ) — 2,033 915 Gain (loss) on foreign currency translation of foreign operations (244,735 ) 96,157 — (4,409 ) (152,987 ) Remeasurement gain (loss) related to defined benefit plan (236,726 ) (48,244 ) — 13,993 (270,977 ) Gain (loss) on valuation of derivatives designated as cash flow hedges (3,869 ) (32,719 ) 31,756 (860 ) (5,692 ) Total (572,210 ) (10,406 ) 74,777 7,184 (500,655 ) (*) The increase and decrease of financial asset valuation profit or loss at fair value through other comprehensive income is a change due to the period evaluation and the reclassification adjustments amounting to 29,368 million Won are due to disposal of equity securities during the period. For the year ended December 31, 2020 Beginning Increase (*) Reclassification Classified Income tax Ending balance Net gain (loss) on valuation of financial assets at FVTOCI (71,914 ) 115,167 (30,643 ) — (22,443 ) (9,833 ) Changes in capital due to equity method 915 (3,171 ) — (1,691 ) 1,338 (2,609 ) Gain (loss) on foreign currency translation of foreign operations (152,987 ) (152,486 ) — — 7,110 (298,363 ) Remeasurement gain (loss) related to defined benefit plan (270,977 ) 13,492 — — (3,710 ) (261,195 ) Gain (loss) on valuation of derivatives designated as cash flow hedges (5,692 ) 4,568 — — (262 ) (1,386 ) Capital related to noncurrent assets held for sale — — — 1,691 (465 ) 1,226 Total (500,655 ) (22,430 ) (30,643 ) — (18,432 ) (572,160 ) (*) The increase and decrease of financial asset valuation profit or loss at fair value through other comprehensive income is a change due to the period evaluation and the reclassification adjustments amounting to 2,664 million won are due to disposal of equity securities during the period. For the year ended December 31, 2021 Beginning Increase (*) Reclassification Income tax Ending balance Net gain (loss) on valuation of financial assets at FVTOCI (9,833 ) (174,113 ) (32,624 ) 54,048 (162,522 ) Changes in capital due to equity method (2,609 ) 3,885 — (1,414 ) (138 ) Gain (loss) on foreign currency translation of foreign operations (298,363 ) 239,614 — (5,032 ) (63,781 ) Remeasurement gain (loss) related to defined benefit plan (261,195 ) 90,337 — (25,086 ) (195,944 ) Gain (loss) on valuation of derivatives designated as cash flow hedges (1,386 ) 6,416 1,221 (698 ) 5,553 Capital related to noncurrent assets held for sale 1,226 (1,306 ) — 359 279 Total (572,160 ) 164,833 (31,403 ) 22,177 (416,553 ) (*) The increase(decrease) of financial asset valuation profit or loss at fair value through other comprehensive income and non-current assets held for sale are changes due to the period evaluation, and the reclassification adjustments amounting to (2,220) million Won, 946 million Won and (947) million Won are due to disposal of equity securities, equity method investments and non-current assets held for sale, respectively during the period. (6) Treasury stock Details of treasury stocks are as follows (Unit: Shares, Korean Won in millions): December 31, 2020 December 31, 2021 Number of Book value Number Book value Beginning balance 2 — 2 — Acquisition — — 343,989 3,819 Disposal — — — — Ending balance 2 — 343,991 3,819 |
Dividends
Dividends | 12 Months Ended |
Dec. 31, 2021 | |
Dividends [Abstract] | |
Dividends | 29. DIVIDENDS (1) Dividends per share and the total dividends for the fiscal year ending December 31, 2020 were 360 Won and 260,017 million Won, respectively, and the dividends were approved at the regular general shareholders’ meeting held on March 26, 2021 and were paid in April 2021. (2) On July 23, 2021, the Board of Directors decided to pay an interim dividend of 150 Won per share (total dividend of 108,340 million Won) with July 30, 2021 as the dividend base date, and were paid in August 2021. (3) A dividend in respect of the year ended December 31, 2021, of 750 Won per share, amounting to a total dividend of 546,044 million Won, was approved by shareholders at the annual general meeting on March 25, 2022. |
Net Interest Income
Net Interest Income | 12 Months Ended |
Dec. 31, 2021 | |
Interest Revenue (Expense), Net [Abstract] | |
Net Interest Income | 30. NET INTEREST INCOME (1) Interest income recognized is as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Financial assets at FVTPL 50,619 48,612 45,803 Financial assets at FVTOCI 474,751 437,527 381,814 Financial assets at amortized cost Loans and other financial assets at amortized cost Interest on due from banks 141,330 53,586 46,600 Interest on loans 9,443,740 8,570,173 9,065,074 Interest of other receivables 29,990 30,967 30,538 Sub-total 9,615,060 8,654,726 9,142,212 Securities at amortized cost 436,340 382,988 324,920 Sub-total 10,051,400 9,037,714 9,467,132 Total 10,576,770 9,523,853 9,894,749 (2) Details of interest expense recognized are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Interest on deposits due to customers 3,424,441 2,486,523 1,906,858 Interest on borrowings 383,213 269,985 219,994 Interest on debentures 777,322 722,551 727,093 Other interest expense 89,002 36,964 47,647 Interest on lease liabilities 9,086 9,318 7,436 Total 4,683,064 3,525,341 2,909,028 |
Net Fees and Commissions Income
Net Fees and Commissions Income | 12 Months Ended |
Dec. 31, 2021 | |
Fee and commission income (expense) [abstract] | |
Net Fees And Commissions Income | 31. 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 2019 2020 2021 Fees and commission received for brokerage 156,578 162,653 182,794 Fees and commission received related to credit 189,597 195,391 197,125 Fees and commission received for electronic finance 137,289 125,107 131,941 Fees and commission received on foreign exchange handling 61,756 55,984 56,210 Fees and commission received on foreign exchange 92,408 69,017 73,894 Fees and commission received for guarantee 71,106 74,647 76,428 Fees and commission received on credit card 548,580 507,852 573,048 Fees and commission received on securities business 113,346 79,606 100,991 Fees and commission from trust management 180,290 160,564 216,203 Fees and commission received on credit information 12,626 13,254 10,220 Fees and commission received related to lease 4,753 84,164 374,900 Other fees 140,997 165,777 177,951 Total 1,709,326 1,694,016 2,171,705 (2) Details of fees and commissions expense incurred are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Fees and commissions paid 189,789 246,824 261,734 Credit card commission 407,689 424,316 425,796 Brokerage commission 775 551 1,605 Others 8,445 8,286 11,795 Total 606,698 679,977 700,930 |
Dividend Income
Dividend Income | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Revenue From Dividends [Abstract] | |
Dividend Income | 32. DIVIDEND INCOME (1) Details of dividend income recognized are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Dividend income related to financial assets at FVTPL 86,979 120,158 284,683 Dividend income related to financial assets at FVTOCI 20,980 18,385 24,528 Total 107,959 138,543 309,211 (2) Details of dividends related to financial assets at FVTOCI are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Dividend income recognized from assets held: Equity securities 20,980 18,385 24,528 |
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 | 12 Months Ended |
Dec. 31, 2021 | |
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 | 33. NET GAIN OR LOSS ON FINANCIAL INSTRUMENTS AT FAIR VALUE THROUGH PROFIT OR LOSS MANDATORILY MEASURED AT FAIR VALUE (1) Details of gains or losses related to net gain or loss on financial instruments at FVTPL are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Gain on financial instruments at fair value through profit or loss measured at fair value 58,692 422,374 325,649 Gain (loss) on financial instruments at fair value through profit or loss designated as upon initial recognition (33,237 ) (665 ) 102 Total 25,455 421,709 325,751 (2) Details of net gain or loss on financial instruments at fair value through profit or loss measured at fair value are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Financial assets at FVTPL Securities Gain on transactions and valuation 186,394 142,551 249,803 Loss on transactions and valuation (80,306 ) (122,506 ) (197,172 ) Sub-total 106,088 20,045 52,631 Loans Gain on transactions and valuation 1,556 15,299 24,674 Loss on transactions and valuation (21 ) (8,087 ) (6,770 ) Sub-total 1,535 7,212 17,904 Other financial assets Gain on transactions and valuation 3,963 10,902 17,034 Loss on transactions and valuation (3,570 ) (10,257 ) (12,370 ) Sub-total 393 645 4,664 Sub-total 108,016 27,902 75,199 Derivatives (Held for trading) Interest rate derivatives Gain on transactions and valuation 1,507,254 1,727,585 2,020,004 Loss on transactions and valuation (1,615,833 ) (1,998,824 ) (1,746,752 ) Sub-total (108,579 ) (271,239 ) 273,252 Currency derivatives Gain on transactions and valuation 6,872,513 12,562,354 9,685,798 Loss on transactions and valuation (6,855,447 ) (11,906,353 ) (9,715,260 ) Sub-total 17,066 656,001 (29,462 ) Equity derivatives Gain on transactions and valuation 839,196 1,835,497 1,754,671 Loss on transactions and valuation (796,336 ) (1,825,372 ) (1,744,294 ) Sub-total 42,860 10,125 10,377 Other derivatives Gain on transactions and valuation 695 — 64 Loss on transactions and valuation (1,366 ) (415 ) (3,781 ) Sub-total (671 ) (415 ) (3,717 ) Sub-total (49,324 ) 394,472 250,450 Total 58,692 422,374 325,649 (3) Details of net gain (loss) on financial instruments at fair value through profit or loss designated as upon initial recognition are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Gain (loss) on equity-linked securities (33,237 ) (665 ) 102 |
Net gain or loss on financial a
Net gain or loss on financial assets at FVTOCI | 12 Months Ended |
Dec. 31, 2021 | |
Gains (losses) on financial assets at fair value through other comprehensive income [Abstract] | |
Net gain or loss on financial assets at FVTOCI | 34. NET GAIN OR LOSS ON FINANCIAL ASSETS AT FVTOCI Details of net gain or loss on financial assets at FVTOCI recognized are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Gain on redemption of securities 15 (57 ) (23 ) Gain on transaction of securities 11,000 24,195 32,647 Total 11,015 24,138 32,624 |
Reversal of (provision for) Imp
Reversal of (provision for) Impairment Losses due to Credit Loss | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of impairment loss and reversal of impairment loss [abstract] | |
Reversal of (provision for) Impairment Losses due to Credit Loss | 35. REVERSAL OF (PROVISION FOR) IMPAIRMENT LOSSES DUE TO CREDIT LOSS Reversal of (provision for) impairment losses due to credit loss are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Impairment loss due to credit losses on financial assets measured at FVTOCI (3,297 ) (1,529 ) (4,909 ) Reversal of (provision for) impairment loss due to credit losses on securities at amortized cost 1,415 934 (664 ) Provision for impairment loss due to credit losses on loan and other financial assets at amortized cost (385,758 ) (792,250 ) (551,957 ) Reversal of provision on guarantee 4,352 18,348 10,701 Reversal of (provision for) unused loan commitment 9,044 (9,874 ) 9,991 Total (374,244 ) (784,371 ) (536,838 ) |
General administrative expenses
General administrative expenses and other operating income (expenses) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of general administrative expenses and other operating income (expenses) [Abstract] | |
General and Administrative Expenses and Other Net Operating Income (Expenses) | 36. 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 2019 2020 2021 Employee benefits Short-term employee benefits Salaries 1,584,791 1,638,341 1,775,018 Employee fringe benefits 475,238 506,048 545,534 Share based payment 6,328 7,495 17,774 Retirement benefit service costs 168,423 178,455 181,797 Termination 156,441 202,259 180,872 Sub-total 2,391,221 2,532,598 2,700,995 Depreciation and amortization 481,176 520,969 524,154 Other general and administrative expenses Rent 85,705 78,707 83,879 Taxes and public dues 137,137 129,904 135,015 Service charges 235,117 244,825 231,852 Computer and IT related 93,573 108,810 117,875 Telephone and communication 70,220 72,711 79,145 Operating promotion 45,594 45,891 44,248 Advertising 85,887 94,880 101,384 Printing 7,845 6,954 6,449 Traveling 13,255 7,263 7,449 Supplies 7,736 12,127 7,642 Insurance premium 9,668 10,805 10,692 Reimbursement 23,577 16,500 13,483 Maintenance 18,495 18,367 20,808 Water, light and heating 15,272 14,993 14,520 Vehicle maintenance 10,564 10,225 11,590 Others 34,035 29,652 36,231 Sub-total 893,680 902,614 922,262 Total 3,766,077 3,956,181 4,147,411 (2) Details of other operating income recognized are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Gain on transactions of foreign exchange 602,115 758,347 562,935 Gain related to derivatives (Designated for hedging) 126,651 67,395 61,271 Gain on fair value hedged items 231 9,646 106,253 Others 45,706 63,702 172,044 Total 774,703 899,090 902,503 (3) Details of other operating expenses recognized are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Losses on transactions of foreign exchange 192,331 679,350 450,698 KDIC deposit insurance premium 333,600 371,054 406,276 Contribution to miscellaneous funds 317,667 327,911 367,961 Losses related to derivatives (Designated for hedging) 3,686 82,746 93,084 Losses on fair value hedged items 86,214 68,508 1,947 Others ( * 143,786 189,959 469,938 Total 1,077,284 1,719,528 1,789,904 (*) Other expense includes 22,317 million Won, 11,890 million Won and 13,963 million Won for intangible asset amortization cost for the years ended December 31, 2019, 2020 and 2021 respectively. In addition, it includes 52,504 million Won and 250,971 million Won for lease depreciation cost for the years ended December 31, 2020 and 2021, respectively. (4) Share-based payment Details of performance condition share-based payment granted to executives as of December 31, 2020 and 2021 are as follows: 1) Performance condition share-based payment Subject to Shares granted for the year 2019 Type of payment Cash-settled Vesting period January 1, 2019 ~ December 31, 2022 Date of payment 2023-01-01 Fair value (*1) 12,527 Won Valuation method Black-Scholes Model Expected dividend rate 4.28% Expected maturity date 1 year Number of shares remaining As of December 31, 2020 602,474 shares As of December 31, 2021 602,474 shares Number of shares granted (*2) As of December 31, 2020 602,474 shares As of December 31, 2021 602,474 shares Subject to Shares granted for the year 2020 Type of payment Cash-settled Vesting period January 1, 2020 ~ December 31, 2023 Date of payment 2024-01-01 Fair value (*1) 12,003 Won Valuation method Black-Scholes Model Expected dividend rate 4.28% Expected maturity date 2 years Number of shares remaining As of December 31, 2020 944,343 shares As of December 31, 2021 944,343 shares Number of shares granted (*2) As of December 31, 2020 944,343 shares As of December 31, 2021 944,343 shares Subject to Shares granted for the year 2021 Type of payment Cash-settled Vesting period January 1, 2021 ~ December 31, 2024 Date of payment 2025-01-01 Fair value (*1) 11,501 Won Valuation method Black-Scholes Model Expected dividend rate 4.28% Expected maturity date 3 years Number of shares remaining As of December 31, 2020 — As of December 31, 2021 1,105,515 shares Number of shares granted (*2) As of December 31, 2020 — As of December 31, 2021 1,105,515 shares (*1) As the amount of payment varies according to the base price (the arithmetic average of the weighted average stock price of transactions in the past one week, the past one month, and the past two months) at the date of payment, the fair value is calculated to measure the liability according to the Black Scholes model based on the base price at the time of each settlement. (*2) It is a system in which the amount of stock payable is determined at the beginning, and the payment rate is determined in accordance with the degree of achievement of the pre-set non-performing 2) The Group accounts for performance condition share-based payments according to the cash-settled method and the fair value of the liabilities is reflected in the compensation costs by re-measuring |
Non-operating income (expenses)
Non-operating income (expenses) | 12 Months Ended |
Dec. 31, 2021 | |
OtherNonoperatingIncomeAndExpense [Abstract] | |
Non-operating income (expenses) | 37. 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 2019 2020 2021 Gains on valuation of investments in joint ventures and associates 103,775 125,602 80,268 Reversal of impairment losses of investments in joint ventures and associates — — 1,744 Losses on valuation of investments in joint ventures and associates (16,144 ) (23,283 ) (7,405 ) Impairment losses of investments in joint ventures and associates (3,634 ) (1,242 ) (12,411 ) Total 83,997 101,077 62,196 (2) Details of other non-operating For the years ended December 31 2019 2020 2021 Other non-operating 68,459 133,195 188,129 Other non-operating (229,383 ) (313,415 ) (223,029 ) Total (160,924 ) (180,220 ) (34,900 ) (3) Details of other non-operating For the years ended 2019 2020 2021 Rental fee income 10,106 15,190 15,056 Gains on disposal of investments in joint ventures and associates — 3,470 70,834 Gains on disposal of premises and equipment, intangible assets and other assets 1,632 9,715 51,083 Reversal of impairment loss of premises and equipment, intangible assets and other assets 103 172 166 Others (*) 56,618 104,648 50,990 Total 68,459 133,195 188,129 (*) Included 67,427 million Won of profit from bargain purchase for the year ended December 31, 2020. (4) Details of other non-operating For the years ended December 31 2019 2020 2021 Depreciation on investment properties 2,225 2,689 2,809 Operating expenses on investment properties 834 762 1,174 Losses on disposal of investment in joint ventures and associates — — 174 Losses on disposal of premises and equipment, intangible assets and other assets 3,433 2,717 3,354 Impairment losses of premises and equipment, intangible assets and other assets 28,295 8,763 656 Donation 62,545 44,504 39,335 Others (* 132,051 253,980 175,527 Total 229,383 313,415 223,029 (*) Ot h i Won of other extraordinary losses related to other provisions or accounts payable |
Income Tax Expense
Income Tax Expense | 12 Months Ended |
Dec. 31, 2021 | |
Major components of tax expense (income) [abstract] | |
Income Tax Expense | 38. INCOME TAX EXPENSE (1) Details of income tax expenses are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Current tax expense Current tax expense with respect to the current period 612,680 501,223 884,843 Adjustments recognized in the current period in relation to the tax expense of prior periods (65,227 ) 4,914 2,074 Sub-total 547,453 506,137 886,917 Deferred tax expense Change in deferred tax assets (liabilities) due to temporary differences 130,816 (1,702 ) 15,672 Income tax expense (income) directly attributable to equity 7,184 (18,433 ) 22,177 Sub-total 138,000 (20,135 ) 37,849 Income tax expense 685,453 486,002 924,766 (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 2019 2020 2021 Net income before income tax expense 2,723,049 2,001,251 3,687,045 Tax calculated at statutory tax rate (*) 738,476 514,456 942,991 Adjustments: Effect of income that is exempt from taxation (61,730 ) (42,440 ) (41,335 ) Effect of expenses that are not deductible in determining taxable income 31,549 19,451 18,933 Adjustments recognized in the current period in relation to the current tax of prior periods (65,227 ) 4,914 3,078 Others 42,385 (10,379 ) 1,099 Sub-total (53,023 ) (28,454 ) (18,225 ) Income tax expense 685,453 486,002 924,766 Effective tax rate 25.2 % 24.3 % 25.08 % (*) 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 for the years ended December 31, 2019, 2020 and 2021, are as follows (Unit: Korean Won in millions): For the year ended December 31, 2019 Beginning Business Recognized Recognized as (*2) Ending Balance Gain (loss) on financial assets 372,346 1,360 (91,781 ) (3,573 ) 278,352 Gain (loss) on valuation using the equity method of accounting 28,354 90 (17,648 ) (83 ) 10,713 Gain (loss) on valuation of derivatives (27,507 ) 6 (48,217 ) 306 (75,412 ) Accrued income (55,846 ) (52 ) (10,486 ) — (66,384 ) Provision for loan losses (52,345 ) — (366 ) — (52,711 ) Loan and receivables written off 6,672 — 221 — 6,893 Loan origination costs and fees (154,431 ) — (8,011 ) — (162,442 ) Defined benefit liability 360,087 1,131 21,234 13,850 396,302 Deposits with employee retirement insurance trust (318,330 ) (1,131 ) (62,458 ) 143 (381,776 ) Provision for guarantee 11,374 — (3,459 ) — 7,915 Other provision 75,194 76 10,958 2,228 88,456 Others (*1) (204,083 ) (6,927 ) 72,013 (5,687 ) (144,684 ) Net deferred tax assets 41,485 (5,447 ) (138,000 ) 7,184 (94,778 ) (*1) Among the deferred tax assets and liabilities classified as ‘Others,’ the deferred tax asset arising from unused tax losses amounts to 21,656 million Won. (*2) Includes 2,737 million Won presented on non-controlling For the year ended December 31, 2020 Beginning Business Recognized Recognized as Ending Balance Gain (loss) on financial assets 278,352 2,243 19,121 (23,221 ) 276,495 Gain on valuation using the equity method of accounting 10,713 — 21,499 1,385 33,597 Gain (loss) on valuation of derivatives (75,412 ) 675 (67,423 ) (192 ) (142,352 ) Accrued income (66,384 ) (4,392 ) 4,548 — (66,228 ) Provision for loan losses (52,711 ) 2,201 4,015 — (46,495 ) Loan and receivables written off 6,893 — 1,328 — 8,221 Loan origination costs and fees (162,442 ) (14,131 ) 6,377 — (170,196 ) Defined benefit liability 396,302 7,923 41,186 (3,404 ) 442,007 Deposits with employee retirement insurance trust (381,776 ) (6,369 ) (36,858 ) 97 (424,906 ) Provision for guarantee 7,915 3,441 (1,871 ) — 9,485 Other provision 88,456 — (3,283 ) — 85,173 Others ( * (144,684 ) (12,678 ) 31,494 6,904 (118,964 ) Net deferred tax assets (94,778 ) (21,087 ) 20,133 (18,431 ) (114,163 ) (*) Among the deferred tax assets and liabilities classified as ‘Others,’ the deferred tax asset arising from unused tax losses amounts to 24,059 million Won. For the year ended December 31, 2021 Beginning Recognized Recognized as Ending Balance Gain (loss) on financial assets 276,495 (57,187 ) 54,048 273,356 Gain on valuation using the equity method of accounting 33,597 (17,282 ) (1,055 ) 15,260 Gain (loss) on valuation of derivatives (142,352 ) (6,755 ) (698 ) (149,805 ) Accrued income (66,228 ) (16,254 ) — (82,482 ) Provision for loan losses (46,495 ) 11,870 — (34,625 ) Loan and receivables written off 8,221 23 — 8,244 Loan origination costs and fees (170,196 ) (24,267 ) — (194,463 ) Defined benefit liability 442,007 32,890 (25,282 ) 449,615 Deposits with employee retirement insurance trust (424,906 ) (7,291 ) 196 (432,001 ) Provision for guarantee 9,485 (2,061 ) — 7,424 Other provision 85,173 15,398 — 100,571 Others (*) (118,964 ) 24,193 (5,032 ) (99,803 ) Net deferred tax assets (114,163 ) (46,723 ) 22,177 (138,709 ) (*) Among the deferred tax assets and liabilities classified as ‘Others,’ the deferred tax asset arising from unused tax losses amounts to 8,838 million Won. (4) Unrealizable temporary differences are as follows (Unit: Korean Won in millions): December 31, 2020 December 31, 2021 Deductible temporary differences 327,139 303,067 Tax loss carry forward 97,898 63,908 Taxable temporary differences (10,409,344 ) (8,025,672 ) Total (9,984,307 ) (7,658,697 ) No deferred income tax asset has been recognized for the deductible temporary difference of 264,000 million Won associated with investments in subsidiaries as of December 31, 2021, because it is not probable that the temporary differences will be reversed in the foreseeable future. 39,067 million Won associated with others, respectively, as of December 31, 2021, 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 8,025,673 million Won associated with investment in subsidiaries as of December 31, 2021, 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. As of December 31, 2021, 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 14,688 33,464 12,199 3,557 (5) Details of accumulated deferred tax charged directly to other equity are as follows (Unit: Korean Won in millions): December 31, December 31, Gain on valuation of financial assets at FVTOCI 4,628 58,677 Gain on valuation of equity method investments 3,133 2,078 Gain on foreign currency translation of foreign operations 10,883 5,689 Remeasurements of the net defined benefit liability 101,128 74,790 Gain on derivatives designated as cash flow hedge 556 (843 ) Total 120,328 140,391 (6) Current tax assets and liabilities are as follows (Unit: Korean Won in millions): December 31, December 31, Current tax assets 75,655 22,598 Current tax liabilities 370,718 584,491 |
Earnings per Share (EPS)
Earnings per Share (EPS) | 12 Months Ended |
Dec. 31, 2021 | |
Earnings per share [abstract] | |
Earnings Per Share ("EPS") | 39. EARNINGS PER SHARE (“EPS”) (1) 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 2019 2020 2021 Net income attributable to common shareholders 1,872,207 1,307,266 2,542,844 Dividends to hybrid securities (4,362 ) (48,915 ) (66,250 ) Net income attributable to common shareholders 1,867,845 1,258,351 2,476,594 Weighted average number of common shares outstanding (Unit: million shares) 685 722 724 Basic EPS (Unit: Korean Won) 2,727 1,742 3,419 (2) The weighted average number of common shares outstanding is as follows (Unit: number of shares, days): For the year ended December 31, 2020 Period Number of Dates Accumulated Common shares issued at the beginning of the period 2020-01-01 2020-12-31 722,267,683 366 264,349,971,978 Treasury stock 2020-01-01 2020-12-31 (2 ) 366 (732 ) Sub-total 264,349,971,246 Weighted average number of common shares outstanding (②=(①/366) 722,267,681 For the year ended December 31, 2021 Period Number of Dates Accumulated Common shares issued at the beginning of the period 2021-01-01 2021-12-31 722,267,683 365 263,627,704,295 Treasury stocks 2021-01-01 2021-12-31 (2 ) 365 (730 ) Issuance of new shares (comprehensive share exchange) 2021-08-10 2021-12-31 5,792,866 144 834,172,704 Acquisition of treasury stocks 2021-08-10 2021-12-31 (343,989 ) 144 (49,534,416 ) Sub-total 264,412,341,853 Weighted average number of common shares outstanding (②=(①/365) 724,417,375 Diluted EPS is equal to basic EPS because there is no dilution effect for the years ended December 31, 2020 and 2021. |
Contingent Liabilities and Comm
Contingent Liabilities and Commitments | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of contingent liabilities [abstract] | |
Contingent Liabilities And Commitments | 40. CONTINGENT LIABILITIES AND COMMITMENTS (1) Details of guarantees are as follows (Unit: Korean Won in millions): December 31, 2020 December 31, 2021 Confirmed guarantees Guarantee for loans 103,229 38,897 Acceptances 602,014 622,758 Guarantees in acceptances of imported goods 78,395 111,195 Other confirmed guarantees 6,491,608 7,215,557 Sub-total 7,275,246 7,988,407 Unconfirmed guarantees Local letters of credit 187,146 243,072 Letters of credit 3,025,923 3,186,513 Other unconfirmed guarantees 403,652 778,088 Sub-total 3,616,721 4,207,673 Commercial paper purchase commitments and others 917,489 791,729 Total 11,809,456 12,987,809 (*) Includes financial guarantees of million Won as of December 31, 2020 and December 31, 2021, respectively. (2) Details of unused loan commitments and others are as follows (Unit: Korean Won in millions): December 31, December 31, Loan commitments 112,088,680 114,414,462 Other commitments (*) 7,827,774 5,652,557 (*) As of December 31, 2020 and 2021, the amount of unsecured bills (purchase note sales) and discounts on electronic short-term bond sales (purchase) are 2,894,688 million Won and 2,225,226 million Won, respectively. (3) Litigation case Litigation case that the key Group is a defendant in a lawsuit pending (excluding fraud lawsuits and those lawsuits that are filed only to extend the statute of limitation, etc.) are 460 cases (litigation value of 413,744 million Won) and 475 cases (litigation value of 578,505 million Won) as of December 31, 2020 and 2021 respectively, and provisions for litigations are 24,873 million Won and 24,823 million Won. (4) Other commitments 1) The Group decided to enter into a stock sales agreement with a major shareholder of Woori Asset Trust Co., Ltd. (formerly, Kukje Asset Trust Co., Ltd.) to acquire 44.5% of interest (58.6% of voting rights) in July, 2019, and to acquire additional 21.3% of interest (28.0% of voting rights) after a certain period. As a result, the Group acquired the interest of the first sales agreement in December 2019 and is planning to acquire the interest of the second sales agreement after a certain period. In regard to this acquisition, the Group recognized 121,420 million Won as other financial liabilities for the second sales agreement. 2) As of December 31, 2021, Woori Asset Trust Co., Ltd., a subsidiary, has agreed to carry out construction completion obligations for 96 constructions, which includes the construction of residential and commercial complexes in Busan (U-dong, Haeundae-gu). 3,269,955 3) Pursuant to some contracts related to asset securitization, the Group utilizes various prerequisites as triggering events causing early redemption, limiting risks that investors bear due to change in asset quality. Breach of such triggering clause leads to an early redemption of the securitized bonds. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of transactions between related parties [abstract] | |
Related Party Transactions | 41. RELATED PARTY TRANSACTIONS Related parties of the Group as of December 31, 2020 and 2021, and assets and liabilities recognized, guarantees and commitments, major transactions with related parties and compensation to key management for the years ended December 31, 2020 and 2021 are as follows. Please refer to Note 13 for the details of joint ventures and associates. (1) Assets and liabilities from transactions with related parties are as follows (Unit: Korean Won in millions): Related parties Account title December 31, 2020 December 31, 2021 Associates W Service Networks Co., Ltd. Loans 21 20 Deposits due to customers 2,183 2,832 Accrued expenses 6 6 Other liabilities 459 425 Korea Credit Bureau Co., Ltd. Loans 1 2 Deposits due to customers 2,311 1,557 Other liabilities 5 — Korea Finance Security Co., Ltd. Loans 3,440 3,425 Allowance for credit losses (6 ) (6 ) Deposits due to customers 1,927 1,887 Other liabilities 1 2 Chin Hung International Inc. Loans 257 — Allowance for credit losses (3 ) — Deposits due to customers 8,715 — Other liabilities 171 — LOTTE CARD Co. Ltd. Loans 7,500 3,750 Allowance for credit losses (77 ) (39 ) Other assets 12 10 Deposits due to customers 2,697 13,482 Other liabilities 113 91 K BANK Co., Ltd. Loans 104 99 Account receivables 26 29 Other assets 3,835 — Other liabilities 808 84,935 Related parties Account title December 31, 2020 December 31, 2021 Well to Sea No.3 Private Equity Fund Deposits due to customers 4,997 — Others (*1) Loans 44,036 73,940 Allowance for credit losses (126 ) (124 ) Other assets 651 739 Deposits due to customers 5,831 1,063 Other liabilities 5 3 (*1) Others include IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership, Woori Growth Partnerships New Technology Private Equity Fund, Partner One Value Up I Private Equity Fund and etc., as of December 31, 2020 and 2021. (2) Gain or loss from transactions with related parties are as follows (Unit: Korean Won in millions): For the years ended Related parties Account title 2019 2020 2021 Associates W Service Network Co., Ltd. Other income 32 32 30 Interest expenses 20 13 7 Fees expenses 448 525 612 Reversal of allowance for credit losses (3 ) (4 ) — Other expenses 1,423 2,174 1,878 Korea Credit Bureau Co., Ltd. Interest expenses 29 5 4 Fees expenses 2,608 3,155 3,503 Other expenses — — 68 Korea Finance Security Co., Ltd. Interest income — 70 80 Interest expenses 9 3 2 Provision of allowance for credit losses 8 3 1 Other expenses 112 100 92 Chin Hung International Inc. Interest expenses 35 19 — Provision (Reversal) of allowance for credit losses 44 (145 ) — LOTTE CARD Co., Ltd. Interest income 213 311 196 Fees income 593 2,748 10,248 Interest expenses 53 68 462 Provision (Reversal) of allowance for credit losses 30 171 (59 ) K BANK Co., Ltd. Fees income 1,468 1,763 1,952 Fees expenses — — 636 Well to Sea No.3 Private Equity Fund Interest income 1,774 1,883 — Interest expenses 11 5 — Reversal of allowance for credit loss (18 ) (55 ) — Others (*1)(*2) Interest income — — 679 Fees income 1,281 2,677 5,546 Dividends income — 52 — Other income 17 16 — Interest expenses 55 28 17 Reversal of allowance for credit loss (5 ) — (2 ) (*1) Others include Saman Corporation, Woori-Shinyoung Growth-Cap (*2) Others include Woori Growth Partnerships New Technology Private Equity Fund, Partner One Value Up I Private Equity Fund, and etc., as of December 31, 2020 and 2021. (3) Major loan transactions with related parties for the years ended December 31, 2019, 2020 and 2021 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2019 Related parties Beginning Loan Collection Ending (*) Associates W Service Network Co., Ltd. 69 315 361 23 Korea Credit Bureau Co., Ltd. 7 26 30 3 Korea Finance Security Co., Ltd. 57 2,426 623 1,860 Chin Hung International Inc 241 2,338 2,335 244 LOTTE CARD Co., Ltd. — 7,500 — 7,500 K BANK Co., Ltd. 185 2,249 2,293 141 Well to Sea No. 3 Private Equity Fund 1,857 2,633 — 4,490 (*) Payments that occurred for business reasons among related parties are excluded and net increase or decrease was used for limited credit loan. For the year ended December 31, 2020 Related parties Beginning Loan Collection Ending (*) Associates W Service Network Co., Ltd. 23 337 339 21 Korea Credit Bureau Co., Ltd. 3 17 19 1 Korea Finance Security Co., Ltd. 1,860 2,133 553 3,440 LOTTE CARD Co., Ltd. 7,500 — — 7,500 K BANK Co., Ltd. 141 1,942 1,979 104 Well to Sea No. 3 Private Equity Fund 4,490 — 4,490 — (*) Payments that occurred for business reasons among related parties are excluded and net increase or decrease was used for limited credit loan. For the year ended December 31, 2021 Related parties Beginning Loan Collection Others Ending (*) Associates W Service Network Co., Ltd. 21 248 249 — 20 Korea Credit Bureau Co., Ltd. 1 11 10 — 2 Korea Finance Security Co., Ltd. 3,440 333 348 — 3,425 LOTTE CARD Co., Ltd. 7,500 — 3,750 — 3,750 K BANK Co., Ltd. 104 1,769 1,774 — 99 Godo Kaisha Oceanos 1 44,036 — — (1,003 ) 43,033 Woori Zip 1 — 13,121 — (346 ) 12,775 Woori Zip 2 — 18,624 — (492 ) 18,132 (*) Payments that occurred for business reasons among related parties are excluded and net increase or decrease was used for limited credit loan. (4) Details of changes in major deposits due to customers with related parties for the year December 31, 2019, 2020 and 2021 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2019 Related parties Beginning Increase Decrease Ending balance (*1) Associates Saman Corporation (*2) 2,436 86 — 2,522 W Service Networks Co., Ltd 1,180 1,460 1,460 1,180 Chin Hung International Inc 765 400 765 400 Partner One Value Up I Private Equity Fund 1,403 1,617 1,870 1,150 Korea Credit Bureau Co., Ltd. 6,000 — 6,000 — Korea Finance Security Co., Ltd. 535 25 560 — (*1) Details of payment between related parties, demand deposit due to customers and etc. are excluded. (*2) Excluded from the related parties due to the loss of significant influence for the year ended December 31, 2019. For the year ended December 31, 2020 Related parties Beginning Increase Decrease Ending balance (*) Associates W Service Networks Co., Ltd 1,180 1,180 1,180 1,180 Chin Hung International Inc 400 — 400 — Partner One Value Up I Private Equity Fund 1,150 1,737 2,024 863 Korea Credit Bureau Co., Ltd. — 1,000 — 1,000 (*) Details of payment between related parties, demand deposit due to customers and etc. are excluded. For the year ended December 31, 2021 Related parties Beginning Increase Decrease Ending balance (*) Associates W Service Networks Co., Ltd 1,180 1,180 1,180 1,180 Partner One Value Up I Private Equity Fund 863 637 1,171 329 Korea Credit Bureau Co., Ltd. 1,000 — 1,000 — (*) Details of payment between related parties, demand deposit due to customers and etc. are excluded. (5) There are no major borrowing transactions with related parties for the years ended December 31, 2020 and 2021. (6) Guarantees provided to the related parties are as follows (Unit: Korean Won in millions): Warrantee December 31, 2020 December 31, 2021 Warranty Korea Finance Security Co., Ltd. 820 835 Unused loan commitment Korea Credit Bureau Co., Ltd. 34 33 Unused loan commitment W Service Network Co., Ltd. 179 180 Unused loan commitment Chin Hung International Inc. 16,167 — Unused loan commitment K BANK Co., Ltd. 196 201 Unused loan commitment LOTTE CARD Co. Ltd. 500,000 500,000 Unused loan commitment As of December 31, 2020 and 2021, the recognized payment guarantee provisions are 284 million Won and 93 million Won, respectively, in relation to the guarantees provided to the related parties above. (7) Amount of commitments with the related parties Warrantee December 31, 2020 December 31, 2021 Warranty Together-Korea Government Private Pool Private Securities Investment Trust No.3 990,000 — Securities purchase commitment IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 9,704 4,664 Securities purchase commitment WooriG Senior Loan General Type Private Investment Trust No.1 53,041 14,284 Securities purchase commitment Woori Seoul Beltway Private Special Asset Fund No.1 41,393 39,458 Securities purchase commitment Woori-Shinyoung Growth-Cap 12,799 — Securities purchase commitment Woori-Q 36,355 11,109 Securities purchase commitment Union Technology Finance Investment Association 10,500 2,250 Securities purchase commitment Genesis Eco No.1 Private Equity Fund — 195 Securities purchase commitment Genesis Environmental Energy Company 1st Private Equity Fund 916 916 Securities purchase commitment JC Assurance No.2 Private Equity Fund 1,650 1,351 Securities purchase commitment Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 550 425 Securities purchase commitment PCC-Woori 2,525 — Securities purchase commitment WooriG Oncorp Corporate support of Major Industry General Type Private Investment Trust (Type 2) — 669 Securities purchase commitment (8) Major investment and Recovery transactions The details of major investment and recovery transactions with related parties for the year ended December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): For the year ended The same parent company and its associates Investment Recovery WooriG Public Offering stock 10 securities Investment Trust [Bond mixed] C(F) 1,000 — WooriG IGIS Securities Investment Trust [Bond] C(F) 1,300 — For the year ended The same parent company and its associates Investment (*) Recovery (*) Woori China Mainland Stock Securities Investment Trust — 568 Woori Long-term government bond securities Investment Trust No.1 2,000 — Woori New MMF No.3 — 20,105 Woori Multi-Return Securities Investment Trust 1 8,000 — Woori Multi-Return Securities Investment Trust 2 (Balanced Bond) 8,000 — Woori Short term Plus Securities Investment Trust 200 — Woori Smart New Deal 30 Target Conversion Securities Investment trust No.3 200 — Woori Smart Balance Securities Investment Trust (Stock) 500 — Woori ACE Public Offering stock Alpha Securities Investment Trust (Bond Mixed) 200 — WooriG Oncorp Corporate support of Major Industry General Type Private Investment Trust (Type 2) 831 — WooriG Public Offering stock 10 securities Investment Trust [Bond mixed] C(F) — 1,064 WooriG IGIS Securities Investment Trust [Bond] C(F) — 1,306 (*) Investment and recovery transactions of associates are described in Note 13.(2) (9) Compensation for key management is as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Short-term employee salaries 13,427 22,778 20,742 Retirement benefit service costs 783 910 815 Share-based compensation 2,494 3,519 6,970 Total 16,704 27,207 28,527 Key management includes executives and directors of Woori Financial Group and major subsidiaries, and also includes CEO of other subsidiaries. Outstanding assets from transactions with key management amount to 3,888 million Won and 3,821 million Won, as of December 31, 2020 and 2021 respectively and with respect to the assets, the Group has not recognized any allowance nor related impairment loss due to credit losses. Also, liabilities from transaction with key management amount to 16,915 million Won and 24,861 million Won, respectively, as of December 31, 2020 and 2021. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of quantitative information about leases for lessee [abstract] | |
Leases | 42. LEASES (1) Lessor 1) Finance lease ① The total investment in finance lease and the present value of the minimum lease payments to be recovered as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, 2020 Total investment in lease Net investment in lease Within one year 24,649 23,957 After one year but within two years 48,781 45,575 After two years but within three years 132,894 120,414 After three years but within four years 171,137 151,756 After four years but within five years 277,282 244,481 After five years 16 12 Total 654,759 586,195 December 31, 2021 Total investment in lease Net investment in lease Within one year 70,740 69,030 After one year but within two years 133,398 124,904 After two years but within three years 239,895 218,911 After three years but within four years 367,991 331,685 After four years but within five years 486,490 429,034 After five years 2 1 Total 1,298,516 1,173,565 ② The unrealized interest income of the finance lease as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, 2020 December 31, 2021 Total investment in lease 654,759 1,298,516 Net investment in lease 586,195 1,173,565 Present value of minimum lease payments 586,133 1,173,565 Present value of unguaranteed residual value 62 — Unearned interest income 68,564 124,951 2) Operating lease ① The details of operating lease assets as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, 2020 December 31, 2021 Prepaid lease assets 199 4,579 Operating lease assets Acquisition cost 1,506,957 2,299,968 Accumulated depreciation (390,981 ) (521,660 ) Net carrying value 1,115,976 1,778,308 Total 1,116,175 1,782,887 ② The details of changes in operating lease assets as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, 2020 December 31, 2021 Beginning balance — 1,116,175 Acquisition 118,256 984,093 Disposal (21,963 ) (93,138 ) Depreciation (52,504 ) (250,971 ) Business combination 1,071,111 — Others 1,275 22,149 Ending balance 1,116,175 1,778,308 ③ The future lease payments to be received under the lease contracts as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, 2020 December 31, 2021 Within one year 240,005 377,153 After one year but within two years 223,074 347,539 After two years but within three years 156,859 262,176 After three years but within four years 80,174 170,391 After four years but within five years 24,992 79,555 Total 725,104 1,236,814 ④ There is no adjusted lease payments recognized as profit (2) Lessee 1) The future lease payments under the lease contracts as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, 2020 December 31, 2021 Lease payments Within one year 173,885 151,259 After one year but within five years 200,844 155,707 After five years 34,787 38,275 Total 409,516 345,241 2) Total cash outflows from lease as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): For the years ended December 31 2020 2021 Total cash outflows from lease 207,305 180,884 3) Details of lease payments that are not included in the measurement of lease liabilities due to the fact that they are short-term leases or leases for which the underlying asset is low value as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): For the years ended December 31 2020 2021 Lease payments for short-term leases 1,760 1,598 Lease payments for which the underlying asset is of low value 751 1,488 Total 2,511 3,086 (3) The Group uses a practical expedient that does not assess whether it is a lease change to the rent discount incurred directly as a result of COVID-19. |
Events after the Reporting Peri
Events after the Reporting Period | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
Event After The Reporting Period | 43. EVENTS AFTER THE REPORTING PERIOD (1) On January 7, 2022, the Parent company established Woori Financial F&I Inc. (100% of ownership, 200 billion Won in stock payments) which is an investment company for non-performing (2) The Russia - Ukraine conflict has been escalated in February 2022, Russia is imposed to the international sanctions. As a result of these sanctions, the lack of liquidity in the foreign exchange market as well as the significant decline in value of the Rubles and the decline in value of Russian companies’ securities are in progress. As a result, the Group may experience situations such as a decrease in value of financial assets or operating assets owned by the Group regarding the conflict, an increase in receivable payment terms, limitation to transfer funds, a decrease in the profit. As of December 31, 2021, the Group expects such conflict and sanctions would have financial impacts on the business of AO Woori Bank, one of the subsidiaries, in the future. However, the Group cannot reasonably predict the financial impacts because it is very uncertain to estimate the impact on the Group’s financial position and business performance. (3) In April 2022, the Group became aware of an embezzlement case by an employee of the Bank, one of its subsidiaries. Related to the embezzlement case, the investigation by the relevant institutions is currently in progress. The Group considered the case as the adjusting events after the reporting period and recognized 62.2 billion Won in the financial statements as losses. Such adjustment was recorded as out of period adjustment in 2021 and the impacts on the prior periods are not materia l. |
Basis of preparation and sign_2
Basis of preparation and significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting policies [Abstract] | |
Basis of presentation | (1) Basis of presentation 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 Wo December The principal accounting policies applied in the preparation of these consolidated financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. The consolidated financial statements, as described in following paragraphs of accounting policy, are prepared at the end of each reporting period in historical cost basis, except for certain non-current |
Accounting policy for newly adopted and changes in accounting policies | 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: ① IFRS 9 ‘ Financial Instruments Financial Instruments: Recognition and Measurement Financial Instruments: Disclosures Insurance Contracts Leases The amendment indicates that the effective interest rate shall be adjusted rather than the carrying amount when changing the interest rate benchmark for financial instruments measured at amortized cost. In addition, it allows hedge accounting to continue without interruption even when changes to interest rate benchmark occur in the hedging relationship. The amendment does not have a significant impact on the consolidated financial statements. Since the Group has derivatives, loans, and debentures that are directly affected by interest rate benchmark reform, the Group is working on a project to convert contracts referring to former interest rate benchmark into alternative benchmarks to minimize business disruptions, mitigate operational risks, and reduce possible financial losses. In accordance with the transitional provisions, the amendments have been applied retrospectively to hedging relationships and financial instruments. The comparative financial statements have not been restated and there is no effect of the adoption of the amendments on the beginning balance of reserves. The Group has applied ‘Interest Rate Benchmark Reform-Phase 2’, which is an amendment to IFRS 9, IAS 39, IFRS 7 and IFRS 16, beginning on January 1, 2021. In accordance with the transition provisions, the amendments were applied retrospectively to the hedging relationship and financial instruments. The comparative financial statements have not been restated and there is no effect of the adoption of the amendments on the beginning balance of reserves. a) Hedging relationship The Phase 2 amendments address issues arising from ‘Interest Rate Benchmark Reform-Phase 1’, including when the designation and documentation of hedges should be updated and when alternative rates are permitted as hedged risk. The Phase 1 amendments include an exceptional regulation that temporarily mitigates the application of specific hedge accounting requirements to hedging relationships directly affected by ‘Interest Rate Benchmark Reform’. Due to this mitigation, ‘Interest Rate Benchmark Reform’ typically does not stop hedge accounting until there is a change of the contract. However, hedge ineffectiveness continues to be recorded in the statement of profit or loss. It also suggests when the application of these exceptions should end, for instance, exceptional regulation should end when uncertainties due to ‘Interest Rate Benchmark Reform’ no longer appear. For the period beginning January 1, 2021, the Group has applied the following hedge accounting mitigation provisions provided in the Phase 2 amendments: Designation of a hedging relationship: When the Phase 1 amendments cease to apply, the Group will amend the designation of a hedging relationship to reflect the changes required by the Interest Rate Benchmark Reform when there is a change in one or more of the followings: • Designating the alternative benchmark rate (contractually or non-contractually • Amending the description of the hedged item so it refers to the alternative benchmark rate; or • Amending the description of the hedging instrument. The Group will amend the hedging relationship documentation to reflect these amendments by the end of the reporting period during which the changes are made. These amendments do not require the discontinuance of the hedging relationship. b) Financial instruments measured at amortized cost For financial instruments measured at amortized cost (including financial assets at FVTOCI-debt instruments), the Phase 2 amendments do not require the financial instrument to recognize gains or losses from the change because the change in the contractual cash flow basis required by the interest rate reform is reflected by adjusting the effective interest rate. A similar practical expedient exists for lease liabilities. This practical expedient is applicable only to changes required by interest rate indicator reform. When the changes are necessary as a direct result of Interest Rate Benchmark Reform and the new criteria for determining contractual cash flows are economically equivalent to the previous one, it is considered as a required change due to Interest Rate Benchmark Reform. If some or all of the changes in the instrument’s contractual cash flow calculation criteria do not meet the above criteria, the Group shall first apply the practical expedient to the changes made under the Interest Rate Benchmark Reform and then apply the general financial instrument requirements(In other words, the entity shall determine whether a modification or elimination is made and recognizes immediately in profit or loss any modification on financial instrument which has not been eliminated). For lease liabilities which basis for determining contractual cash flows is changed, as a practical expedient, the lease liabilities are remeasured at a discount rate that reflects the change in interest rates due to the Interest Rate Benchmark Reform. If an additional lease change is made in addition to the lease changes required by the Interest Rate Benchmark Reform, the general requirements of IFRS 16 apply to the accounting for all simultaneous lease changes, including those required by the Interest Rate Benchmark Reform. The details of Woori Bank’s financial instruments that have not completed the conversion to interest rates benchmark as of December 31, 2021 are as follows: Non-derivative USD (*1) EUR GBP JPY CHF BBSW Total (*2) Interest rate Non-derivative Financial assets at FVTOCI 662,878 194,084 — — — — — Financial assets at amortized cost 5,204,049 2,337,327 24,514 134,369 87,788 — — Sub-total 5,866,927 2,531,411 24,514 134,369 87,788 — — Non-derivative Financial liabilities at amortized cost 657,953 574,968 — — — — — Derivatives Interest rate related (for trading) 26,757,719 26,327,929 — 344,854 — 1,297 — Currency related (for trading) 35,169,303 35,169,303 — 407,264 175,422 — — Interest rate related (for hedging) 2,193,175 2,193,175 — — — — 128,834 Sub-total 64,120,197 63,690,407 — 752,118 175,422 1,297 128,834 Commitments and financial guarantees 1,167 — 7,374 — 1,854 — — (*1) Financial instruments related to USD Libor (overnight rate, 1, 3, 6, 12 month rates) that are expired before June 30, 2023 are excluded. (*2) For contracts that do not have an interest rate alternative clause, we are in the process of negotiating to add an interest rate alternative clause. The KRW CD interest rate is planned to be replaced by the Korea Overnight Financing Repo Rate (KOFR) in the long term, but the policy direction to activate the replacement rate or when the CD rate calculation will be discontinued is not clear. |
Amendments to IFRS 16 Lease | ② Amendments to IFRS 16 Leases —COVID-19 As a practical expedient, a lessee may elect not to assess whether a rent concession occurring as a direct consequence of the COVID-19 |
IFRSs issued and published not yet reached effective date Group has not applied | 2) The details of IFRSs that have been issued and published as of the date of issue approval of financial statements but have not yet reached the effective date, and which the Group has not applied at an earlier date are as follows: ① Amendments to IFRS 3 Business Combination The amendments update a reference of definition of assets and liabilities qualify for recognition in revised Conceptual Framework for Financial Reporting. However, the amendments add an exception for the recognition of liabilities and contingent liabilities within the scope of IAS 37 Provisions, Contingent Liabilities and Contingent Assets, and IFRIC 21 Levies. The amendments also confirm that contingent assets should not be recognized at the acquisition date. The amendments should be applied for annual periods beginning on or after January 1, 2022, and earlier application is permitted. The Group does not expect that these amendments have a significant impact on the financial statements. ② Amendments to IAS 37 Provisions, Contingent Liabilities and Contingent Assets—Onerous Contracts: Cost of Fulfilling a Contract The amendments clarify that the direct costs of fulfilling a contract include both the incremental costs of fulfilling the contract and an allocation of other costs directly related to fulfilling contracts when assessing whether the contract is onerous. The amendments should be applied for annual periods beginning on or after January 1, 2022, and earlier application is permitted. The Group does not expect that these amendments have a significant impact on the financial statements. ③ Amendments to IAS 16 Property, Plant and Equipment—Proceeds before intended use The amendments prohibit an entity from deducting from the cost of an item of property, plant and equipment any proceeds from selling items produced while the entity is preparing the asset for its intended use. Instead, the entity will recognize the proceeds from selling such items, and the costs of producing those items, in profit or loss. The amendments should be applied for annual periods beginning on or after January 1, 2022, and earlier application is permitted. The Group does not expect that these amendments have a significant impact on the financial statements. ④ Annual Improvements to IFRSs 2018-2020 Annual improvements of IFRSs 2018-2020 Cycle should be applied for annual periods beginning on or after January 1, 2022, and earlier application is permitted. The Group does not expect that these amendments have a significant impact on the financial statements. • IFRS 1 First time Adoption of Korean International Financial Reporting Standards- Subsidiaries that are first-time adopters • IFRS 9 Financial Instruments - Fees related to the 10% test for derecognition of financial liabilities • IFRS 16 Leases- Lease incentives • IAS 41 Agriculture - Measuring fair value ⑤ Amendments to IAS 1 Presentation of Financial Statements—Classification of Liabilities as Current or Non-current The amendments clarify that liabilities are classified as either current or non-current, ⑥ Amendments to IAS 1 ‘Presentation of Financial Statements’—Disclosure of ‘Accounting Policy’ To define and disclose material accounting policies, and to provide guidance on how to apply the concept of materiality, ‘Accounting Policy Disclosure’ of the IFRS Practice Statement 2 has been amended. These amendments apply for annual periods beginning on or after January 1, ⑦ Amendments to IAS 8 ‘Accounting Policies, Changes in Accounting Estimates and Errors’—Definition of ‘Accounting Estimates’ The amendments have defined accounting estimates and clarified how to distinguish them from changes in accounting policies. These amendments apply for annual periods beginning on or after January 1, ⑧ Amendments to IAS 12 ‘Income Taxes’—deferred tax related to assets and liabilities arising from a single transaction Additional phrase ‘the temporary difference to be added and the temporary difference to be deducted do not occur in the same amount’ has been added to initial recognition exception for a transaction in which an asset or liability is initially recognized. These amendments apply for annual periods beginning on or after January 1, 2023, and early application is permitted. The Group does not expect that these amendments have a significant impact on the financial statements. The above enacted or amended standards will not have a significant impact on the Group. |
Basis of consolidated financial statement presentation | (2) Basis of consolidated financial statement presentation The consolidated financial statements consist of the financial statements of the Parent company and the entities (including structured entities) controlled by the Parent company (or 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) able to use its power to affect its returns. The Group reassesses whether 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 most 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 the Group’s voting rights in an investee are enough 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. The carrying amount of the non-controlling non-controlling non-controlling non-controlling When 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 acquires assets, liabilities and contingent liabilities are recognized at their fair value, except for the followings: • 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 The subsidiary’s non-controlling non-controlling entitled to a proportional share of the entity’s net assets, the non-controlling non-controlling non-controlling non-controlling non-controlling 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. If the initial accounting for a business combination is not completed by the end of the reporting period in which the business combination occurred, the Group reports in consolidated financial statements the provisional amount of items that have not been accounted for. If there is new information about the facts and circumstances that existed as of the acquisition date during the measurement period (see above), the Group retrospectively adjusts the provisional amounts recognized at the acquisition date or recognizes additional assets and liabilities to reflect the information that would have affected the measurement of the amount recognized at the acquisition date if it had already known at the acquisition date. |
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 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 thereafter to recognize the Group’s share of the net assets of the joint ventures and associates and any impairment. When the Group’s share of losses of the joint ventures and associates exceeds the Group’s interest in the associate, the Group discontinues recognizing its share of further losses. Additional losses are recognized only to the extent that the Group has incurred legal or constructive obligations or made payments on behalf of the joint ventures and associates. Investment in joint ventures and associates are accounted for and applied with the equity method from the time the investee becomes an associate or a joint venture. 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 exists after the review, it is recognized immediately in net income. 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 as a single asset by comparing its recoverable amount (higher of value in use and fair value less costs to sell) with its carrying amount. Any impairment loss recognized is not allocated to any asset (including goodwill), which forms part of the carrying amount of the investment. Any reversal of that impairment loss is recognized in accordance with IAS 36 to the extent that the recoverable amount of the investment subsequently increases. The Group ceases to use the equity method from the time it fails meet the definition of an associate or a joint venture. 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 or a joint venture 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 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 the Group 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. The Group applies IFRS 9 Financial Instruments, including the impairment requirements, to its long-term investment interests in associates and joint ventures that form part of its net investment without applying the equity method. In addition, when applying IFRS 9 to long-term investments, the Group does not consider adjustments to the carrying amount required by IAS 28. Examples of such adjustments include an impairment assessment or an adjustment to the carrying amount of the long-term investment interest resulting from the allocation of losses to the investee in accordance with IAS 28. |
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; • its expenses, including its share of any expenses incurred jointly. The Group accounts for the assets, liabilities, revenues and expenses that correspond to its interest in a joint operation in accordance with the IFRSs and IASs applicable to the specific 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 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 IFRS 15 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. Revenues other than those from contracts with customers, such as interest revenue and loan origination fee (cost), are recognized through effective interest rate method. 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 recognize 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. Most of these fees and commission received for brokerage are from the business activities relevant to 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. Most of these fees and commission received related to credit are from the business activities relevant to Banking, Credit card and Investment 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. Most of these fees and commission received for electronic finance are from the business activities relevant to Banking and Investment 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 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 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 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 Banking and Investment 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. Most of these fees and commission received for brokerage are from the business activities relevant to 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. Most of these fees and commission received for brokerage are from the business activities relevant to other segments. 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. 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. 3) Dividend income Dividend income is recognized when the right to receive dividends as a shareholder is confirmed. Dividend income is recognized as an appropriate item of profit or loss in the statement of comprehensive income according to the classification of financial instruments. |
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 translated using foreign exchange rates at the end of the period. The foreign exchange differences are recognized in other comprehensive income. |
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 1) Financial assets A regular way purchase or sale of financial assets is recognized or derecognized, as applicable, using trade date accounting or settlement date accounting. 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 according to its business model and contractual cash flows. 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 adjust contractual nominal interest, including floating rate features • 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 are 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 income tax effects related to 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 about debt instrument 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 are 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 financial liabilities 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 is recognized in profit or loss. Financial liabilities not classified as financial liabilities at FVTPL are measured 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 a 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 allowance for credit losses 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. b) Measurement of expected credit losses on financial asset at FVTOCI (debt securities) 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 accumulated other comprehensive income to net income. |
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 expenditure 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 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 recognizes the acquisition cost of an intangible asset as the manufacturing cost or purchase cost plus additional incidental expenses. Development costs are the sum of expenditures incurred after the asset recognition requirements, such as technical feasibility and future economic benefits, are met. After the initial recognition, the carrying value is presented as the accumulated amortization and accumulated impairment losses deducted from the cost. The Group’s intangible asset are amortized over the following economic lives using the straight-line method. However, for some intangible assets, the period of time that is expected to be available is not predictable, so the useful life of some intangible assets is assessed as indefinite and not depreciated. The estimated useful life and amortization method of intangible assets with a finite useful life 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 5 to 10 years Development costs 5 years Software and others 1 to 10 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 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 The Group determines whether the contract is a lease or includes a lease at the time of the contract agreement. In exchange for consideration in a contract, the contract is either a lease or includes a lease if the control over the use of the identified asset is transferred for a period of time. In determining whether a contract transfers control over the use of the asset to which it is identified, the Group uses the definition of lease IFRS 16. ① The Group as a lessee The Group recognizes the right-of-use right-of-use The right-of-use right-of-use right-of-use right-of-use The lease liability is initially measured at the present value of the lease payments that are not paid at that date. The lease payments are discounted using the interest rate implicit in the lease, if that cannot be readily determined, the Group uses its incremental borrowing rate. The Group generally uses the incremental borrowing rate. The Group makes adjustments to reflect the terms of the lease and the characteristics of the lease asset in interest rates obtained from external financial information and calculates the incremental borrowing rate. The Group calculates the lease term by including the relevant period when it is quite certain that the lessee will exercise the extension option or the termination option. The Group calculates the enforceable period in consideration of the economic disadvantages of terminating the contract if the lessee and the lessor have the right to terminate it without the consent of the other parties. The lease payments included in the measurement of the lease liability comprise the following: • Fixed payments (including in-substance • Variable lease payments that depend on an index (or a rate), initially measured using the index or rate as at the commencement date • Amounts expected to be payable by the lessee under residual value guarantees • The exercise price of a purchase option if the lessee is reasonably certain to exercise that option, lease payments of the extended period if the lessee is reasonably certain to exercise extension option, and payments of penalties for terminating the lease, if the lease term reflects the lessee exercising an option to terminate the lease The lease liability is subsequently increased be the interest expense recognized for the lease liability and decreased by reflecting the payment of the lease payments. The lease liability is remeasured if the future lease payments change depending on changes in the index (or a rate), changes in the expected amount to be paid under the residual value guarantee, and changes in the assessment of whether the purchase or extension option is reasonably certain to be exercised or not to exercise the terminate option. When remeasuring a lease liability, the related right-of-use right-of-use The Group applies its judgment when determining the lease term for some lease contracts that include the extension option. The assessment of whether the Group is reasonably certain to exercise the option significantly affects the lease term and therefore has a significant impact on the amount of lease liabilities and the right-of-use Because the Group can replace the asset without significant cost or business discontinuation, the option to extend the lease is not included in the lease liability in most offices and vehicle transport leases. The Group reevaluates the lease term when the option is exercised (or not exercised) or the Group is liable to exercise (or not exercise) the option. Group will change its judgment only when significant events occur that affect the lessee’s control and the determination of the lease term, or there is a significant change in the circumstances. Lease liabilities and right-of-use-asset In the statement of financial position, the Group classified the right-of-use The Group has chosen a practical expedient that does not recognize the right-of-use ② The Group as a lessor At the date of the agreement or the effective date of the modification containing the lease element, the Group allocates the consideration of the contract to each lease element based on its relative stand-alone price. As a lessor, the Group classifies its leases as either a finance lease or an operating lease at the commencement date. The Group subsequently judges whether the lease transfers substantially all the risks and rewards incidental to ownership of an underlying asset. A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership of an underlying asset, otherwise a lease is classified as an operating lease. If the agreement contains both lease and non-lease The Group applies the derecognition and impairment provisions of IFRS 9 to its net investment in the lease. The Group also carries out regular review of the unguaranteed residual value used to calculate total lease investment. The Group recognizes lease payments from operating lease as income on a straight-line basis. The accounting policy that the Group has applied as a lessor is not different from IFRS 16. |
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 or 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. Derivatives that have positive (+) fair values are recognized as financial assets and those that have negative (-) fair values are recognized as financial liabilities. Derivatives are not offset in the consolidated financial statements unless they have legally enforceable right to set off or are intended to set off. 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 are 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. 2) Hedge accounting The Group is applying IFRS 9 in regard 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 of hedging relationship is equal to the proportion of the number of items that the Group actually hedges and the number of hedging instruments that the Group actually uses to hedge the number of hedged items 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. When gains or losses arising from the hedged risk are recognized in profit or loss of the current term, they are recognized as items related to the hedged items. 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 starting date of hedge accounting and it is cumulated in the cash flow hedge reserve. 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 it has present or contractual obligations as a result of the past event, it is probable that an outflow of resources will be required to settle the obligation and the amount of the obligation is reliably estimated. A provision is not recognized for the future operating losses. The Group recognizes provisions related to the payment guarantees, loan commitment and litigations. Under the terms of lease agreement, the cost incurred by the Group to recover the leased asset to its original state are recognized as provisions at the commencement of the lease or during a specific period in which the obligation is incurred as a result of the using the asset. The provisions are measured as the best estimate of the expenditure required to recover the asset, which is regularly reviewed and sated to the new situation. 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. At the end of each reporting period, the remaining provision balance is reviewed an assessed to determine if the current best estimate is being recognized. |
Equity instruments issued by the Group | (19) Equity instruments issued by the Group 1) 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. 2) Hybrid securities The Group classifies hybrid securities that have the unconditional right to avoid contractual obligations, such as to deliver cash or other financial assets in relation to financial instruments into equity instruments and presents as part of equity. Meanwhile, hybrid securities issued by subsidiaries of the group are classified as non-controlling non-controlling |
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 the amount included in net interest from net defined benefit liability (asset)), and the effect of the changes to the asset ceiling 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 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 the date when the Group is no longer able to cancel its proposal for termination benefits or 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 carryforwards. 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 is realized. Deferred tax assets, including the carryforwards 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. The tax uncertainty arises from the compensation claim filed by the Group, and refund litigation for the amount of tax levied by the tax authority due to differences in tax law analysis. In response, the Group paid taxes in accordance with IFRIC 23 due to the tax authority’s claim but recognized as a corporate tax asset if it is highly probable of a refund in the future. In addition, the Group appropriately estimates and reflects the amount of corporate tax liabilities based on the analysis of corporate tax laws and the evaluation of many factors, including past experiences. |
Criteria of calculating earnings per share ("EPS") | (23) Criteria of calculating 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. |
Share-based payment | (24) Share-based payment For cash-settled share-based payment transactions that provide cash in return for the goods or services received, the Group measures the goods or services received, and the corresponding liability at the fair value and recognizes as employee benefit expenses and liabilities during the vesting period. The fair value of the liability is remeasured at the end of each reporting period and the settlement date until the liability is settled, and changes in fair value are recognized as employee benefits. |
Significant accounting estima_2
Significant accounting estimates and assumptions (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of accounting judgements and estimates explanatory [Abstract] | |
Impact of deferred loan principal and interest due to covid 19 | The outbreak of COVID-19 COVID-19 The Group determined that the credit risk of loan affected by the loan deferment has significantly increased and evaluated that the possibility of default is high. The Group will continue to assess the adequacy of forward-looking <Woori Bank> Woori Bank’s total loans (loans, payment guarantees) that are subject to loan deferment and interest deferment, total loans that changed its stage from 12-month to lifetime expected credit losses (Stage 2), and the expected credit loss allowances recognized additionally are as follows. (Unit: Korean Won in millions): December 31, 2020 December 31, 2021 Total loans (Loans, payment guarantees) that are subject to loan deferment and interest deferment Corporate 1,697,899 2,428,496 Retail 122,425 167,146 Total 1,820,324 2,595,642 Total loans changed its stage from 12-month to lifetime (Stage 2) expected credit Corporate 1,548,805 2,125,492 Retail 101,721 134,920 Total 1,650,526 2,260,412 The expected credit loss allowances that are additionally recognized Corporate 210,173 275,057 Retail 9,058 9,657 Total 219,231 284,714 In addition, as of December 31, 2021, the Group applied the overlay when forecasting future economic conditions in consideration of the potential for insolvency due to increase in market interest rate and the increase in economic uncertainty due to the accelerated spread of COVID-19. As of December 31, 2021, the monetary effect of the expected credit loss allowance due to the application of the forecast of future economic conditions overlay is as follows (Unit: Korean Won in millions): Increase in expected Corporate 48,583 Retail 6,237 Total 54,820 <Woori Card> Woori Card Co., Ltd. determined that the credit risk of obligors receiving financial support due to COVID-19 million Won, and the cumulative expected credit loss allowance has increased for <Woori Financial Capital Co., Ltd.> Woori Financial Capital Co., Ltd. determined that the credit risk of obligors receiving financial support due to COVID-19 Won and cumulative expected credit loss allowance has increased for |
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 ‘2. Basis of Preparation and Significant Accounting Policies (9) 5) Fair value of financial instruments’, 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. |
Impairment of financial instruments | (3) Impairment of financial instruments The accuracy of the provision for credit losses is determined by the estimation of the expected cash flows for each tenant for estimating the individually assessed loan-loss allowance, and the assumptions and variables in the model used for estimating the collectively assessed loan-loss allowance payment, guarantee and unused commitment. 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. Information on measuring expected credit loss is described in ‘4. Risk Management (1) 2) Measurement of expected credit loss’. |
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, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Stock transfer from the company and subsidiaries | The details of stock transfer between the Parent company and subsidiaries as of incorporation are as follows (Unit: Number of shares) Stock transfer company Total number of Exchange ratio per share Number of Parent Woori Bank 676,000,000 1.000000 676,000,000 Woori FIS Co., Ltd. 4,900,000 0.299970 1,469,857 Woori Finance Research Institute Co., Ltd. 600,000 0.188816 113,289 Woori Credit Information Co., Ltd. 1,008,000 1.103729 1,112,559 Woori Fund Service Co., Ltd. 2,000,000 0.470903 941,806 Woori Private Equity Asset Management Co., Ltd. 6,000,000 0.087799 526,795 |
Disclosure of investments in subsidiaries | (2) Details of the Parent company and subsidiaries (hereinafter ‘Group’) as of December 31, 2020 and 2021 are as follows: Main business Percentage of ownership (%) Location Financial Subsidiaries December 31, December 31, Held by Woori Financial Group Inc. Woori Bank Bank 100.0 100.0 Korea Decembe Woori Card Co., Ltd. Finance 100.0 100.0 Korea Decembe Woori Financial Capital Co., Ltd. Finance 76.8 100.0 Korea Decembe Woori Investment Bank Co., Ltd. Other credit finance business 58.7 58.7 Korea Decembe Woori Asset Trust Co., Ltd. Real estate trust 67.2 67.2 Korea Decembe Woori Asset Management Corp. Finance 73.0 73.0 Korea Decembe Woori Savings Bank (*7) Mutual Savings bank — 100.0 Korea Decembe Woori Credit Information Co., Ltd. Credit information 100.0 100.0 Korea Decembe Woori Fund Service Co., Ltd. Financial support service business 100.0 100.0 Korea Decembe Woori Private Equity Asset Management Co., Ltd. Finance 100.0 100.0 Korea Decembe Woori Global Asset Management Co., Ltd. Finance 100.0 100.0 Korea Decembe Woori FIS Co., Ltd. System software 100.0 100.0 Korea Decembe Woori Finance Research Institute Co., Ltd. Other service business 100.0 100.0 Korea Decembe Held by Woori Bank Woori America Bank Finance 100.0 100.0 America Decembe Woori Global Markets Asia Limited Finance 100.0 100.0 Hong Kong Decembe Woori Bank China Limited Finance 100.0 100.0 China Decembe AO Woori Bank Finance 100.0 100.0 Russia Decembe PT Bank Woori Saudara Indonesia 1906 Tbk Finance 79.9 84.2 Indonesia Decembe Banco Woori Bank do Brasil S.A. Finance 100.0 100.0 Brazil Decembe Korea BTL Infrastructure Fund Finance 99.9 99.9 Korea Decemb Woori Finance Myanmar Co., Ltd. Finance 100.0 100.0 Myanmar Decembe Wealth Development Bank Finance 51.0 51.0 Philippines Decembe Woori Bank Vietnam Limited Finance 100.0 100.0 Vietnam Decembe Woori Bank (Cambodia) PLC (*1)(*9) Finance 100.0 100.0 Cambodia Decembe Woori Bank Europe Finance 100.0 100.0 Germany Decembe Kumho Trust First Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Asiana Saigon Inc. (*2) Asset securitization 0.0 0.0 Korea Decembe KAMCO Value Recreation First (*2) Asset securitization 15.0 15.0 Korea December Hermes STX Co., Ltd. (*5) Asset securitization 0.0 — Korea — BWL First Co., LLC (*5) Asset securitization 0.0 — Korea — Deogi Dream Fourth Co., (*2) Asset securitization 0.0 0.0 Korea December Jeonju Iwon Ltd. (* 2 Asset securitization 0.0 0.0 Korea Decembe Wonju I one Inc. (*2) Asset securitization 0.0 0.0 Korea Decemb Heitz Third Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woorihansoop 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woori International First Co., (*2) Asset securitization 0.0 0.0 Korea Decembe Wibihansoop 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori QS 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori Display 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Tiger Eyes 2nd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Main business Percentage of ownership (%) Location Financial Subsidiaries December 31, December 31, Woori Display 2nd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woori the Colony Unjung Securitization Specialty Co., Ltd. (*5) Asset securitization 0.0 — Korea — Woori Dream 1st Co., Ltd. (*5) Asset securitization 0.0 — Korea — Woori Dream 2nd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woori H 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woori Sinnonhyeon 1st Inc. (*5) Asset securitization 0.0 — Korea — Woori K 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woori S 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woori Display 3rd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe TY 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woori HJ 2nd Co., Ltd. (*5) Asset securitization 0.0 — Korea — Woori-HJ Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woori K 2nd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woori KC No.1 Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woori QSell 2nd Co., Ltd. (*5) Asset securitization 0.0 — Korea — Quantum Jump the 2nd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Quantum Jump the 1st Co., (*2) Asset securitization 0.0 0.0 Korea Decemb Woori BK the 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decemb Woori-HC (*2) Asset securitization 0.0 0.0 Korea Decemb Wivi Synergy 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decemb ATLANTIC TRANSPORTATION (*2) Asset securitization 0.0 0.0 Marshall Decemb Woori Gongdeok First Co (*2) Asset securitization 0.0 0.0 Korea Decemb HD Project Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decemb Woori HW 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decemb Woori HC 2nd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decemb Woori Dream 3rd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decemb Woori SJS 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decemb Woori Steel st (*2) Asset securitization 0.0 0.0 Korea Decemb SPG the 1 st (*2) Asset securitization 0.0 0.0 Korea Decembe Woori-HWC (*2) Asset securitization 0.0 0.0 Korea Decemb Woori HC 3rd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woori Park I 1st co., Ltd (*2) Asset securitization 0.0 0.0 Korea Decemb Woori DS 1 st (*2) Asset securitization 0.0 0.0 Korea Decemb Woori HC 4th Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woori SKR 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea Decembe Woori Hchemical 1st Co (*2) Asset securitization — 0.0 Korea Decemb HE the 1st Co.,Ltd. (*2) Asset securitization — 0.0 Korea Decembe Woori Hub The 1st Co., Ltd. (*2) Asset securitization — 0.0 Korea Decembe Woori K The 3rd Co., Ltd. (*2) Asset securitization — 0.0 Korea Decembe Woori KF 1st Co., Ltd. (*2) Asset securitization — 0.0 Korea Decembe WooriI TS 1st Co., Ltd. (*2) Asset securitization — 0.0 Korea Decemb Woori H Square 1st Co., Ltd. (*2) Asset securitization — 0.0 Korea Decemb Woori L Yongsan 1st Co (*2) Asset securitization — 0.0 Korea Decemb Woori HC 5th Co., Ltd. (*2) Asset securitization — 0.0 Korea Decemb Woori Ladena 1st Co., Ltd. (*2) Asset securitization — 0.0 Korea Decemb Woori HR 1st Co., Ltd. (*2) Asset securitization 0.0 — Korea Decembe Woori Lotte Dongtan 1st Co., Ltd. (*2) Asset securitization 0.0 — Korea Decembe Woori HC 6th Co., Ltd. (*2) Asset securitization 0.0 — Korea Decembe Woori ECO 1st Co., Ltd. (*2) Asset securitization 0.0 — Korea December G5 Pro Short-term Bond Investment Fund 13 (*3) Securities investment and others 100.0 100.0 Korea Decembe Heungkuk Global Private Placement Investment Trust No. 1 (*3)(*11) Securities investment and others 98.5 98.8 Korea Decembe AI Partners UK Water Supply Private Placement (*3)(*11) Securities investment and others 97.3 97.3 England Decembe Multi Asset Global Real Estate Investment Trust No. 5-2 (*3) Securities investment and others 99.0 99.0 Korea Decemb Main business Percentage of ownership (%) Location Financial Subsidiaries December 31, December 31, Igis Australia Investment Trust No. 209-1 (*3)(*11) Securities investment and others 99.4 99.4 Korea Decemb INMARK Spain Private Placement Real Estate Investment Trust No. 26-2 (*3) Securities investment and others 97.7 97.7 Korea Decembe WooriG Japan General Type Private Real Estate Feeder Investment Trust No.1-2 (*3)(*11) Securities investment and others 98.8 98.8 Korea Decembe IGIS Global Private Placement Real Estate Fund No. 316-1 (*3) Securities investment and others 99.3 99.3 Korea Decembe Woori G Secondary Private Placement Investment Trust No. 1 (*3)(*11) Securities investment and others 97.2 98.1 Korea Decembe WooriG Japan Blind General Type Private Real Estate Feeder Investment Trust No.1 (*3)(*11) Securities investment and others — 99.8 Korea Decemb JBairline Private Placement Investment Trust No.8 (*3)(*11) Securities investment and others — 97.0 Korea Decembe Kiwoom Harmony Private Placement Investment Trust No. 2 (*3)(*11) Securities investment and others — 97.1 Korea Decembe Kiwoom Harmony Private Placement Investment Trust No.1 (*3)(*11) Securities investment and others — 96.0 Korea Decembe Principal Guaranteed Trust (*4) Trust 0.0 0.0 Korea Decemb Principal and Interest Guaranteed (*4) Trust 0.0 0.0 Korea Decemb Held by Multi Asset Global Real Estate Investment Trust No. 5-2 Asset securitization 54.6 54.6 Luxembourg Decembe Held by MAGI No.5 LuxCo S.a.r.l. (*2) Asset securitization 0.0 0.0 Belgium Decembe Held by Woori Card Co., Ltd. TUTU Finance –WCI Myanmar Co., Ltd. Finance 100.0 100.0 Myanmar Decemb Woori Card one of 2017-2 (*5) Asset securitization 0.5 — Korea — Woori Card one of 2018-1 (*2) Asset securitization 0.5 0.5 Korea Decemb Woori Card 2019-1 (*2) Asset securitization 0.5 0.5 Korea Decembe Woori Card 2020-1 (*2) Asset securitization 0.5 0.5 Korea Decembe Woori Card 2021-1 (*2) Asset securitization — 0.5 Korea Decembe Held by Woori Financial Capital Co., Ltd. Woori Savings Bank (*5) Mutual Savings bank 100.0 — Korea — ACE Auto Invest the 46th Securitization Specialty Co., Ltd. (*5) Asset securitization 1.0 — Korea — ACE Auto Invest the 47th Securitization Specialty Co., Ltd. (*5) Asset securitization 1.0 — Korea — ACE Auto Invest the 48th Securitization Specialty Co., Ltd. (*2) Asset securitization 1.0 1.0 Korea Decemb ACE Auto Invest the 49th Securitization Specialty Co., Ltd. (*2) Asset securitization 1.0 1.0 Korea Decembe Specified Money Market Trust (*5) Trust 100.0 — Korea — Held by Woori Investment Bank Co., Ltd. Seari First Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea Decembe Seari Second Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea Decembe Namjong 1st Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea Decembe Bukgeum First Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea Decembe Main business Percentage of ownership (%) Location Financial Subsidiaries December 31, December 31, Bukgeum Second Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea Decembe WS1909 Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea Decembe WS2003 Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea Decemb WS2006 Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea Decembe WJ2008 Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea Decembe WH2103 Securitization Specialty Co., Ltd. (*2) Asset securitization — 5.0 Korea Decembe WN2103 Securitization Specialty Co., Ltd. (*2) Asset securitization — 5.0 Korea Decembe WH2106 Securitization Specialty Co., Ltd. (*2) Asset securitization — 5.0 Korea Decembe One Punch Korea the 1st Co., Ltd. (*2). Asset securitization 0.0 0.0 Korea Decembe One Punch blue the 1 st (*2) Asset securitization 0.0 0.0 Korea Decembe One Punch red the 1 st (*2) Asset securitization — 0.0 Korea Decembe Held by Woori Asset Management Corp. Woori China Convertible Bond Hedging feeder Investment Trust H (debt-oriented hybrid) (*3) Securities investment and others 99.6 93.6 Korea Decembe Woori China Convertible Bond Master Fund (debt-oriented hybrid) (*5)(*8) Securities investment and others 34.5 — Korea — Woori Yellow Chip High Yield Strategic Allocation 1 (FOF) (*5) Securities investment and others 89.8 — Korea — Woori Together TDF 2025 (*3) Securities investment and others 47.6 34.1 Korea Decembe Woori Together TDF 2030 (*3) Securities investment and others 47.4 32.3 Korea Decembe Woori Together TDF 2035 (*3) Securities investment and others 47.8 56.0 Korea Decemb Woori Together TDF 2040 (*3) Securities investment and others 48.8 55.7 Korea Decembe Woori Together TDF 2045 (*3) Securities investment and others 47.7 65.2 Korea December Woori Together TDF 2050 (*3) Securities investment and others 87.0 63.6 Korea Decembe Woori Star50 Feeder Fund(H) (*3) Securities investment and others — 44.8 Korea Decembe Woori BIG2 Plus Securities Investment Trust (Balanced Bond) (*3) Securities investment and others — 40.8 Korea Decembe Held by Woori Financial Capital Co., Ltd., Woori Private Equity Asset Management Co., Ltd. and Woori Investment Bank Co., (*6) Japanese Hotel Real Estate Private Equity Fund 1 (*3)(*11) Securities investment and others 100.0 100.0 Korea Decemb Held by Woori Global Asset Management Co., Ltd. Woori G Global Multi Asset Income Private Placement Investment Trust_Class Cs (*3)(*11) Securities investment and others 22.2 37.9 Korea Decemb Held by Woori Bank, Woori Financial Capital Co., Ltd., Woori Investment Bank Co., Ltd., Woori Savings Bank and Woori Private Equity Asset Management Co., Ltd. (*6) Woori Innovative Growth Professional Investment Type Private Investment Trust No.1 (*3)(*11) Securities investment and others 90.0 90.0 Korea December Held by Woori Bank, Woori Financial Capital Co., Ltd., Woori Investment Bank Co., Ltd. and Woori Private Equity Asset Management Co., Ltd. (*6) Main business Percentage of ownership (%) Location Financial Subsidiaries December 31, December 31, Woori Innovative Growth Professional Investment Type Private Investment Trust No.2 (*3)(*11) Securities investment and others 85.0 85.0 Korea Decemb Woori Innovative Growth New Deal Private Investment Trust No.3 (*3) Securities investment and others — 94.3 Korea Decembe Held by Woori Bank, Woori Financial Capital Co., Ltd., and Woori Investment Bank Co., Ltd. (*6) WooriG GP Commitment Loan General Type Private Investment Trust No.1 (*3)(*11) Securities investment and others 50.0 100.0 Korea Decembe WooriG Equity Bridge Loan General Type Private Investment Trust No.1 (*3)(*11) Securities investment and others — 80.0 Korea Decembe Held by Woori bank and Woori Investment Bank Co., Ltd. (*6) Heungkuk Woori Tech Company Private Placement Investment Trust (*3)(*11) Securities investment and others 100.0 100.0 Korea Decemb Woori Global Development Infrastructure Synergy Company Private Placement Investment Trust No.1 (*3)(*11) Securities investment and others 100.0 100.0 Korea Decemb Woori G North America Infra Private Placement Investment Trust (*3)(*11) Securities investment and others 100.0 100.0 Korea Decemb Woori G Infrastructure New Deal Specialized Investment Private Equity Investment Trust No. 1 (*3)(*11) Securities investment and others 100.0 100.0 Korea Decembe WooriG General Type Private Real Estate Investment Trust (*3)(*11) Securities investment and others 30.1 30.1 Korea Decemb WooriG ESG Infrastructure Development General Type Private Investment Trust No.1 (*3)(*11) Securities investment and others — 100.0 Korea Decembe Held by Woori bank (*6) WooriG WooriBank Partners General Type Private Investment Trust No.1 (*3)(*11) Securities investment and others 92.6 92.6 Korea Decembe WooriG General Type Private Real Estate Investment Trust (*3)(*11) Securities investment and others 80.0 80.0 Korea Decemb WooriG Global Mid-market (*3)(*11) Securities investment and others 80.0 80.0 Korea Decemb Woori G Woori Bank Partners Professional Type Private Investment Trust No. 2 (*3)(*11) Securities investment and others — 90.9 Korea Decembe WooriG General Type Private Real Estate Investment Trust (*3)(*11) Securities investment and others — 87.0 Korea Decembe Held by Woori Financial Capital Co., Ltd. (*6) Woori G Japan Private Placement Real Estate Feeder Investment Trust No.1-1 (*3)(*11) Securities investment and others 63.2 63.2 Korea Decembe Held by Woori G Japan Private Placement Real Estate Feeder Investment Trust No.1-1 No. 1-2 (*6) Woori G Japan Private Placement Real Estate Master Investment Trust No.1 (*3)(*11) Securities investment and others 100.0 100.0 Korea Decembe Held by Woori Financial Capital Co., Ltd. and Woori Investment Bank Co., Ltd. (*6) Woori G Japan Private Placement Real Estate Master Investment Trust No.2-1 (*3)(*11) Securities investment and others — 100.0 Korea Decembe Main business Percentage of ownership (%) Location Financial Subsidiaries December 31, December 31, Held by Woori G Japan Private Placement Real Estate Master Investment Trust No.1 and Woori G Japan Private Placement Real Estate Master Investment Trust No.2-1 (*6) Woori G Japan Private Placement Real Estate Master Investment Trust No.2 (*3)(*11) Securities investment and others — 100.0 Korea Decemb Held by Woori G Japan Private Placement Real Estate Master Investment Trust No.1 GK OK Chatan (*3) Other financial services 99.9 99.9 Japan Octobe (*10) (*1) The entity was merged with WB Finance Co., Ltd., which is a second-tier subsidiary, during prior period. (*2) The entity is a structured entity for the purpose of asset securitization. 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 structured entity for the purpose of investment Although the Group is not a majority shareholder, the Group 2) is exposed to or has rights to variable returns from its involvement 3) has the ability to use its power to affect (*4) The entity is a ‘money trust’ under the Financial Investment Services and Capital Markets Act. 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) Companies are excluded from the consolidation as of December 31, 2021. (*6) Determined that the Group controls the investees, considering 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, by two or more subsidiaries’ investment or operation. (*7) During March 2021, the Parent company acquired a 100% equity of Woori Financial Savings Bank from the Parent company’s subsidiary Woori Financial Capital Co., Ltd. (*8) As a master-feeder fund, the equity interest represent those of the masterfund held by the feeder (*9) The Parent company’s subsidiary WB Finance Co., Ltd. has changed the name to WOORI BANK (CAMBODIA) PLC. (*10) As financial statements at the end of the reporting period cannot be obtained, the most recent financial statements were used. (*11) In accordance with the of the Capital Market a specialized investment-type private equity fund has been changed to a general private equity fund. |
Unconsolidated companies with more than 50 Percent ownership interests | (3) The Group has not consolidated the following entities as of December 31, 2020 and 2021 despite having more than 50% ownership interest: As of December 31, 2020 Subsidiaries Location Main Business Percentage of 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 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 Mirae Asset Seoul Ring Expressway Private Special Asset (*) Korea Securities Investment 66.7 Hangkang Sewage Treatment Plant Fund (*) Korea Securities Investment 55.6 Korea Investment Pocheon Hwado Expressway Professional Investment Fund (*) Korea Securities Investment 55.2 Midas Global Private Placement Real Estate Investment Trust No. 7-2 (*) Korea Securities Investment 58.3 Together-Korea Government Private Pool Private Securities Investment Trust No.3 (*) Korea Securities Investment 100.0 INMARK France Private Placement Investment Trust No. 18-1 (*) Korea Securities Investment 93.8 Kiwoom Vibrato Private Placement Investment Trust 1-W(EUR) (*) Korea Securities Investment 99.3 (*) 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. As of December 31, 2021 Subsidiaries Location Main Business Percentage of Mirae Asset Maps Clean Water Private Equity Investment Trust (*1) Korea Securities Investment 59.7 Kiwoom Yonsei Private Equity Investment Trust (*1) Korea Securities Investment 88.9 IGIS Europe Private Placement Real Estate Fund No. 163-2 (*1)(*2) Korea Securities Investment 97.9 IGIS Global Private Placement Real Estate Fund No. 148-1 (*1)(*2) Korea Securities Investment 75.0 IGIS Global Private Placement Real Estate Fund No. 148-2 (*1)(*2) Korea Securities Investment 75.0 Mirae Asset Seoul Ring Expressway Private Special Asset Fund No. 1 (*1)(*2) Korea Securities Investment 66.7 Hangkang Sewage Treatment Plant Fund (*1)(*2) Korea Securities Investment 55.6 Korea Investment Pocheon Hwado Expressway Professional Investment Fund (*1)(*2) Korea Securities Investment 55.2 Midas Global Private Placement Real Estate Investment Trust No. 7-2 (*1)(*2) Korea Securities Investment 58.3 Together-Korea Government Private Pool Private Securities Investment Trust No.3 (*1)(*2) Korea Securities Investment 100.0 INMARK France Private Placement Investment Trust No. 18-1 (*1)(*2) Korea Securities Investment 93.8 Kiwoom Vibrato Private Placement Investment Trust 1-W(EUR) (*1)(*2) Korea Securities Investment 99.5 KOTAM Global Infrastructure Private Equity Investment Trust No. 1-4 (*1)(*2) Korea Securities Investment 99.7 Hana UBS Class One Private Equity No. 3 C2 (*1) Korea Securities Investment 51.0 Consus Gyeongju Green Private Equity Investment Trust No. 1 (*1) (*2) Korea Securities Investment 50.0 Kiwoom Harmony Private Placement Investment Trust No. 3 (*1)(*2) Korea Securities Investment 77.4 Consus Solar Energy Private Placement Investment Trust No.1 (*1) Korea Securities Investment 50.0 (*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. (*2) In accordance with the revision of the Capital Market Act, a hedge fund has been changed to a private equity fund. |
Summarized financial information before elimination of intercompany transactions of the subsidiaries | (4) The summarized financial information of the major subsidiaries is 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, 2020 Subsidiaries Assets Liabilities Operating revenue Net income (loss) Comprehensive Woori Bank 374,310,415 350,790,158 26,838,766 1,363,224 1,295,302 Woori Card Co., Ltd. 11,366,596 9,312,986 1,388,208 120,230 118,109 Woori Financial Capital Co., Ltd. (*) 8,880,117 8,053,840 218,945 (30,349 ) (38,293 ) Woori Investment Bank Co., Ltd. 4,332,474 3,803,594 256,079 62,937 62,275 Woori Asset Trust Co., Ltd. 185,634 56,396 79,426 35,312 35,954 Woori Asset Management Corp. 136,460 23,411 26,158 6,797 6,313 Woori Credit Information Co., Ltd. 40,860 9,830 40,010 1,879 1,600 Woori Fund Service Co., Ltd. 18,957 2,172 13,346 2,563 2,563 Woori Private Equity Asset Management Co., Ltd. 38,035 2,009 4,773 823 768 Woori Global Asset Management Co., Ltd. 37,935 9,807 10,652 (1,449 ) (1,449 ) Woori FIS Co., Ltd. 97,479 59,577 249,169 2,013 1,935 Woori Finance Research Institute Co., Ltd. 7,232 3,689 6,223 105 95 (*) Net income (loss) attributable to owners of Woori Financial Capital for the year ended December 31, 2020 has been prepared on a cumulative basis since entity was included as the subsidiary. As of and for the year ended December 31, 2021 Subsidiaries Assets Liabilities Operating revenue Net income (loss) Comprehensive Woori Bank 415,976,627 391,360,200 24,311,964 2,330,433 2,478,754 Woori Card Co., Ltd. 14,116,832 11,858,065 1,528,680 200,726 210,316 Woori Financial Capital Co., Ltd. 10,259,868 9,073,104 997,655 140,579 141,275 Woori Investment Bank Co., Ltd. 5,159,742 4,559,856 303,253 79,924 79,747 Woori Asset Trust Co., Ltd. 254,773 86,418 94,228 40,300 40,263 Woori Asset Management Corp. 151,651 30,144 33,343 8,244 8,458 Woori Savings Bank 1,444,508 1,222,888 85,813 15,315 14,926 Woori Credit Information Co., Ltd. 40,510 8,532 37,507 1,563 1,513 Woori Fund Service Co., Ltd. 22,168 2,582 15,618 3,570 3,570 Woori Private Equity Asset Management Co., Ltd. 42,790 4,652 4,230 2,209 2,113 Woori Global Asset Management Co., Ltd. 35,265 7,579 11,785 (441 ) (441 ) Woori FIS Co., Ltd. 105,138 59,225 270,393 1,587 8,010 Woori Finance Research Institute Co., Ltd. 5,864 2,257 6,812 57 64 |
Total assets of the unconsolidated structured entities the carrying value of the related items recorded the maximum exposure to risks and the loss recognized | The total assets of the unconsolidated structured entity held by the Group, the carrying amount of the items recognized in the consolidated financial statements, the maximum loss exposure, and the losses from the unconsolidated structured entity are as follows. The maximum loss exposure includes the amount of investment recognized in the consolidated financial statements and the amount that is likely to be confirmed in the future when satisfies certain conditions by contracts such as purchase arrangements, credit offerings. As of December 31, 2020 and 2021, the purchase commitment amount is 4,266,319 million Won and 3,033,231 million Won, respectively. December 31, 2020 Asset Structured Investment Real-estate trust Total asset of the unconsolidated structured entities 3,900,254 69,010,369 44,629,638 76,772 Assets recognized in the consolidated financial statements related to the unconsolidated structured entities 648,700 4,291,535 3,350,605 22,402 Financial assets at FVTPL 374,231 167,271 2,922,716 — Financial assets at FVTOCI 163,808 41,378 — — Financial assets at amortized cost 109,008 4,072,321 39,955 22,402 Investments in joint ventures and associates — 5,958 387,902 — Derivative assets 1,653 4,607 32 — Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities 130 963 — 400 Other liabilities (provisions) 130 963 — 400 The maximum exposure to risks 970,628 5,366,037 3,438,924 65,722 Investment assets 648,700 4,291,535 3,350,605 22,402 Credit facilities and others 321,928 1,074,502 88,319 43,320 Loss recognized on unconsolidated structured entities — 6,079 25,454 2,363 December 31, 2021 Asset Structured Investment Real-estate trust Total asset of the unconsolidated structured entities 15,640,521 94,969,317 94,675,732 1,398,508 Assets recognized in the consolidated financial statements related to the unconsolidated structured entities 8,518,101 4,633,475 4,214,747 54,662 Financial assets at FVTPL 374,423 5,021 3,550,532 10,665 Financial assets at FVTOCI 3,878,882 46,478 — — Financial assets at amortized cost 4,264,626 4,579,367 71,662 43,997 Investments in joint ventures and associates — — 592,553 — Derivative assets 170 2,609 — — Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities 677 1,536 — 2,964 Derivative liabilities — 673 — — Other liabilities (provisions) 677 863 — 2,964 The maximum exposure to risks 8,739,034 5,728,977 4,221,072 115,212 Investment assets 8,518,101 4,633,475 4,214,747 54,662 Credit facilities and others 220,933 1,095,502 6,325 60,550 Loss recognized on unconsolidated structured entities 183 11,872 71,309 282 |
Accumulated non-controlling interests, net income attributable non-controlling interests and dividends to non-controlling interests | (7) As of December 31, 2020 and 2021, the share of non-controlling non-controlling 1) Accumulated non-controlling December 31, 2020 December 31, 2021 Woori Bank (*) 3,105,070 2,555,166 Woori Financial Capital Co., Ltd. 166,369 — Woori Investment Bank Co., Ltd. 222,289 251,879 Woori Asset Trust Co., Ltd. 49,738 60,726 Woori Asset Management Corp 31,369 33,768 PT Bank Woori Saudara Indonesia 1906 Tbk 79,890 87,741 Wealth Development Bank 19,521 20,835 (*) Hybrid securities issued by Woori Bank 2) Net income attributable to non-controlling For the years ended December 31 2019 2020 2021 Woori Bank (*) 134,421 162,362 144,923 Woori Financial Capital Co., Ltd. — 1,466 17,949 Woori Investment Bank Co., Ltd. 21,588 25,643 33,274 Woori Asset Trust Co., Ltd. — 9,732 11,366 Woori Asset Management Corp 408 1,699 2,341 PT Bank Woori Saudara Indonesia 1906 Tbk 8,502 6,040 8,619 Wealth Development Bank 427 1,130 928 (*) Distribution of the hybrid securities issued by Woori Bank 3) Dividends to non-controlling For the years ended December 31 2019 2020 2021 Woori Bank (*) 134,421 162,362 144,923 Woori Financial Capital Co., Ltd. — — 4,121 Woori Investment Bank Co., Ltd. — — 3,610 Woori Asset Trust Co., Ltd. — 365 365 PT Bank Woori Saudara Indonesia 1906 Tbk 1,981 1,669 1,262 (*) Distribution of the hybrid securities issued by Woori Bank |
Basis of preparation and sign_3
Basis of preparation and significant accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting policies [Abstract] | |
Disclosure details of banks financial instruments pending conversion to woori rate benchmark | The details of Woori Bank’s financial instruments that have not completed the conversion to interest rates benchmark as of December 31, 2021 are as follows: Non-derivative USD (*1) EUR GBP JPY CHF BBSW Total (*2) Interest rate Non-derivative Financial assets at FVTOCI 662,878 194,084 — — — — — Financial assets at amortized cost 5,204,049 2,337,327 24,514 134,369 87,788 — — Sub-total 5,866,927 2,531,411 24,514 134,369 87,788 — — Non-derivative Financial liabilities at amortized cost 657,953 574,968 — — — — — Derivatives Interest rate related (for trading) 26,757,719 26,327,929 — 344,854 — 1,297 — Currency related (for trading) 35,169,303 35,169,303 — 407,264 175,422 — — Interest rate related (for hedging) 2,193,175 2,193,175 — — — — 128,834 Sub-total 64,120,197 63,690,407 — 752,118 175,422 1,297 128,834 Commitments and financial guarantees 1,167 — 7,374 — 1,854 — — (*1) Financial instruments related to USD Libor (overnight rate, 1, 3, 6, 12 month rates) that are expired before June 30, 2023 are excluded. (*2) For contracts that do not have an interest rate alternative clause, we are in the process of negotiating to add an interest rate alternative clause. |
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 |
Estimated useful life for intangible assets | The estimated useful life and amortization method of intangible assets with a finite useful life 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 5 to 10 years Development costs 5 years Software and others 1 to 10 years |
Significant Accounting Estima_3
Significant Accounting Estimates and Assumptions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of changes in accounting estimates [abstract] | |
Disclosure in tabular form of Woori Bank loan deferment interest deferment and reclassification from twelve month expected credit losses to life time expected credit losses | Woori Bank’s total loans (loans, payment guarantees) that are subject to loan deferment and interest deferment, total loans that changed its stage from 12-month to lifetime expected credit losses (Stage 2), and the expected credit loss allowances recognized additionally are as follows. (Unit: Korean Won in millions): December 31, 2020 December 31, 2021 Total loans (Loans, payment guarantees) that are subject to loan deferment and interest deferment Corporate 1,697,899 2,428,496 Retail 122,425 167,146 Total 1,820,324 2,595,642 Total loans changed its stage from 12-month to lifetime (Stage 2) expected credit Corporate 1,548,805 2,125,492 Retail 101,721 134,920 Total 1,650,526 2,260,412 The expected credit loss allowances that are additionally recognized Corporate 210,173 275,057 Retail 9,058 9,657 Total 219,231 284,714 |
Disclosure in tabular form of impact on the allowance of credit losses due to the application of the future economic forecast activity | As of December 31, 2021, the monetary effect of the expected credit loss allowance due to the application of the forecast of future economic conditions overlay is as follows (Unit: Korean Won in millions): Increase in expected Corporate 48,583 Retail 6,237 Total 54,820 |
Risk Management (Tables)
Risk Management (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of risk management [Abstract] | |
Probability weights applied to the scenarios of the forecasts of macroeconomic variables | As of December 31, 2021, the probability weights applied to the scenarios of the forecasts of macroeconomic variables is as follows (Unit: %): Basic Scenario Upside Scenario Downside Scenario Probability weight 55.59 13.37 31.04 |
Disclosure in tabular form of macroeconomic forecasts for the forthcoming financial year | As of December 31, 2021, the forecasts of major macroeconomic variables by scenario are as follows (Unit: %) Basic Scenario Upside Scenario Downside Scenario GDP growth rate 3.00 3.22 2.60 Personal consumption expenditures price index rate 3.60 4.01 2.85 Consumer price index rate 2.00 2.10 1.82 |
Sensitivity anaysis on expected credit loss allowance due to changes in macroeconomic indicatiors | The results of Woori Bank’s sensitivity analysis on expected credit loss provisions due to changes in macroeconomic indicators as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, 2020 Corporate GDP growth rate Increase by 1% point (86,086 ) Decrease by 1% point 96,177 Retail Consumer price index rate Increase by 1% point (15,807 ) Decrease by 1% point 17,119 December 31, 2021 Corporate GDP growth rate Increase by 1% point (68,140 ) Decrease by 1% point 74,495 Personal consumption expenditures price index rate Increase by 1% point (40,654 ) Decrease by 1% point 43,028 Retail GDP growth rate Increase by 1% point (8,798 ) Decrease by 1% point 9,163 Consumer price index rate Increase by 1% point (29,469 ) Decrease by 1% point 34,352 |
Maximum exposure to credit risk by customer | The maximum exposure to credit risk as of December 31, 2020 and 2021 is as follows (Unit: Korean Won in millions): December 31, December 31, Loans and other financial assets at amortized cost (*1) Korean treasury and government agencies 9,725,719 14,934,813 Banks 19,493,189 24,733,020 Corporates 114,131,994 131,027,256 Consumers 176,755,176 191,237,783 Sub-total 320,106,078 361,932,872 Financial assets at FVTPL (*2) Deposit 48,796 65,072 Debt securities 2,887,097 2,743,239 Loans 676,291 667,467 Derivative assets 6,901,742 4,803,131 Others — 1,518 Sub-total 10,513,926 8,280,427 Financial assets at FVTOCI Debt securities 28,948,141 38,126,977 Securities at amortized cost Debt securities 17,020,839 17,086,274 Derivative assets Derivative assets (Designated for hedging) 174,820 106,764 Off-balance Guarantees (*3) 11,809,456 12,987,809 Loan commitments 112,088,680 114,414,462 Sub-total 123,898,136 127,402,271 Total 500,661,940 552,935,585 (*1) Cash and cash equivalents are not included. (*2) Puttable financial instruments are not included. (*3) As of December 31, 2020 and 2021, the financial guarantee amounts of 4,163,382 million Won and 3,960,383 million Won are included, respectively. |
Credit risk exposure by geographical areas | a) Credit risk exposure by geographical areas The following tables analyze credit risk exposure by geographical areas (Unit: Korean Won in millions): December 31, 2020 Korea China USA UK Japan Others (*) Total Loans and other financial assets at amortized cost 296,186,751 4,356,747 3,988,304 1,990,490 1,404,670 12,179,116 320,106,078 Securities at amortized cost 16,749,531 — 110,597 — — 160,711 17,020,839 Financial assets at FVTPL 6,954,630 13,403 1,083,096 493,285 480,760 1,488,752 10,513,926 Financial assets at FVTOCI 25,966,333 608,893 1,092,636 5 5,460 1,274,814 28,948,141 Derivative assets (Designated for hedging) — — 165,458 3,740 — 5,622 174,820 Off-balance 119,699,069 1,393,734 399,678 38,389 41,378 2,325,888 123,898,136 Total 465,556,314 6,372,777 6,839,769 2,525,909 1,932,268 17,434,903 500,661,940 (*) Others consist of financial assets in Indonesia, Hong Kong, Germany, Australia, and other countries. December 31, 2021 Korea China USA UK Japan Others (*) Total Loans and other financial assets at amortized cost 338,674,446 5,620,622 3,742,331 212,821 811,030 12,871,622 361,932,872 Securities at amortized cost 16,785,265 92,880 27,018 — — 181,111 17,086,274 Financial assets at FVTPL 6,150,464 1,330 1,188,358 195,048 61,315 683,912 8,280,427 Financial assets at FVTOCI 34,242,133 808,359 1,713,435 1,755 23,193 1,338,102 38,126,977 Derivative assets (Designated for hedging) 11,678 — 95,086 — — — 106,764 Off-balance 123,375,839 1,001,430 375,929 31,116 32,402 2,585,555 127,402,271 Total 519,239,825 7,524,621 7,142,157 440,740 927,940 17,660,302 552,935,585 (*) Others consist of financial assets in Indonesia, Hong Kong, Germany, Australia, and other countries. |
Credit risk exposure by industries | ① 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 as of December 31, 2020 and 2021 (Unit: Korean Won in millions): December 31, 2020 Service Manufacturing Finance and Construction Individuals Others Total Loans and other financial assets at amortized cost 56,627,927 35,933,953 35,450,774 3,493,000 172,116,780 16,483,644 320,106,078 Securities at amortized cost 492,172 6,691 8,926,909 302,225 — 7,292,842 17,020,839 Financial assets at FVTPL 301,296 234,712 8,520,127 32,240 14,619 1,410,932 10,513,926 Financial assets at FVTOCI 475,881 207,903 23,017,149 142,396 — 5,104,812 28,948,141 Derivative assets (Designated for hedging) — — 174,820 — — — 174,820 Off-balance 18,828,656 21,460,581 12,086,935 4,060,358 62,477,117 4,984,489 123,898,136 Total 76,725,932 57,843,840 88,176,714 8,030,219 234,608,516 35,276,719 500,661,940 December 31, 2021 Service Manufacturing Finance and Construction Individuals Others Total Loans and other financial assets at amortized cost 67,895,018 37,679,784 45,540,602 4,303,491 185,972,844 20,541,133 361,932,872 Securities at amortized cost 479,291 — 7,061,770 250,607 — 9,294,606 17,086,274 Financial assets at FVTPL 115,346 146,277 6,646,922 13,623 1,836 1,356,423 8,280,427 Financial assets at FVTOCI 376,998 258,866 29,444,989 131,967 — 7,914,157 38,126,977 Derivative assets (Designated for hedging) — — 79,369 27,395 — — 106,764 Off-balance 18,565,570 18,994,662 11,763,667 3,900,766 67,966,826 6,210,780 127,402,271 Total 87,432,223 57,079,589 100,537,319 8,627,849 253,941,506 45,317,099 552,935,585 |
Financial assets and corporate loans by industries that might get affected by the spread of covid 19 | ② The detailed industries of financial assets and corporate loans that might get affected by the spread of COVID-19 < Woori Bank > December 31, 2020 Loans and other Financial assets Financial assets Service business Distribution business General retail business 1,070,789 11,944 5,461 General wholesale business 1,407,563 3,573 — Sub-total 2,478,352 15,517 5,461 Accommodation business 1,525,157 9,305 5,471 Travel business 59,858 — — Art/sports, leisure service 1,467,643 17,739 — Food business 1,078,832 2,515 — Transportation business 395,873 461 8,752 Education business 367,701 489 — Others 1,286,578 2,691 — Sub-total 8,659,994 48,717 19,684 Manufacturing Textile 2,281,344 6,608 6,559 Metal 1,390,290 47,903 — Non-metal 698,478 8,357 — Chemical 1,819,207 19,161 — Transportation 3,268,095 2,060 — Electronics 1,424,297 19,280 — Cosmetics 323,231 217 — Others 368,123 277 — Sub-total 11,573,065 103,863 6,559 Total 20,233,059 152,580 26,243 December 31, 2020 Off-balance accounts Total Service business Distribution business General retail business 897,101 1,985,295 General wholesale business 483,360 1,894,496 Sub-total 1,380,461 3,879,791 Accommodation business 152,059 1,691,992 Travel business 21,350 81,208 Art/sports, leisure service 114,388 1,599,770 Food business 135,680 1,217,027 Transportation business 193,578 598,664 Education business 48,064 416,254 Others 318,641 1,607,910 Sub-total 2,364,221 11,092,616 Manufacturing Textile 1,064,005 3,358,516 Metal 1,581,887 3,020,080 Non-metal 377,506 1,084,341 Chemical 3,233,405 5,071,773 Transportation 2,183,616 5,453,771 Electronics 1,789,605 3,233,182 Cosmetics 54,518 377,966 Others 1,483,551 1,851,951 Sub-total 11,768,093 23,451,580 Total 14,132,314 34,544,196 December 31, 2021 Loans and other Financial assets Financial assets Service business Distribution business General retail business 754,850 274 — General wholesale business 809,893 221 — Sub-total 1,564,743 495 — Accommodation business 1,441,185 625 23,840 Travel business 53,302 — — Art/sports, leisure service 600,746 503 — Food business 1,279,128 216 — Transportation business 404,120 77 — Others 1,050,229 599 — Sub-total 6,393,453 2,515 23,840 Manufacturing Textile 2,626,493 724 10,718 Metal 199,877 10 — Non-metal 148,471 24 — Chemical 904,563 1,994 — Electronics 103,510 31 — Others 191,865 — — Sub-total 4,174,779 2,783 10,718 Total 10,568,232 5,298 34,558 December 31, 2021 Off-balance accounts Total Service business Distribution business General retail business 299,064 1,054,188 General wholesale business 237,678 1,047,792 Sub-total 536,742 2,101,980 Accommodation business 181,563 1,647,213 Travel business 12,455 65,757 Art/sports, leisure service 63,660 664,909 Food business 179,799 1,459,143 Transportation business 167,883 572,080 Others 191,837 1,242,665 Sub-total 1,333,939 7,753,747 Manufacturing Textile 1,012,989 3,650,924 Metal 9,704 209,591 Non-metal 48,171 196,666 Chemical 689,895 1,596,452 Electronics 33,389 136,930 Others 87,587 279,452 Sub-total 1,881,735 6,070,015 Total 3,215,674 13,823,762 < Woori Card Co., Ltd. > December 31, 2020 Loans and other Financial assets at Financial assets at Off-balance Total Accommodation business 4,959 — — 12,315 17,274 Travel business 2,175 — — 25,367 27,542 Aviation 479 — — 4,179 4,658 Cosmetics industry 2,462 — — 13,376 15,838 Distribution business 8,050 — — 44,354 52,404 Food industry 33,084 — — 163,711 196,795 Art/sports, leisure service 6,156 — — 51,962 58,118 Total 57,365 — — 315,264 372,629 December 31, 2021 Loans and other Financial assets at Financial assets at Off-balance Total Accommodation business 2,341 — — 11,472 13,813 Travel business 3,334 — — 20,056 23,390 Aviation 983 — — 4,025 5,008 Cosmetics industry 3,187 — — 10,692 13,879 Distribution business 7,582 — — 38,741 46,323 Food industry 30,267 — — 122,793 153,060 Art/sports, leisure service 8,336 — — 44,286 52,622 Total 56,030 — — 252,065 308,095 <Woori Financial Capital Co., Ltd.> December 31, 2020 Loans and other Financial assets Financial assets Service business Distribution business General retail business 8,978 — — General wholesale business 57,587 — — Sub-total 66,565 — — Accommodation business 6,292 — — Travel business 1,293 — — Art/sports, leisure service 615 — — Food business 21,774 — — Transportation business 28,270 — — Education business 1,132 — — Others 365,860 27,364 — Sub-total 491,801 27,364 — Manufacturing Textile 29,415 — — Metal 17,963 — — Non-metal 4,780 — — Chemical 2,501 — — Transportation 52,514 — — Electronics 12,665 — — Others 5,335 — — Sub-total 125,173 — — Total COVID-19 616,974 27,364 — Other business Others 6,202,754 225,078 — Total 6,819,728 252,442 — December 31, 2020 Off-balance accounts Total Service business Distribution business General retail business — 8,978 General wholesale business — 57,587 Sub-total — 66,565 Accommodation business — 6,292 Travel business — 1,293 Art/sports, leisure service — 615 Food business — 21,774 Transportation business — 28,270 Education business — 1,132 Others 38,681 431,905 Sub-total 38,681 557,846 Manufacturing Textile — 29,415 Metal 3,365 21,328 Non-metal — 4,780 Chemical — 2,501 Transportation — 52,514 Electronics — 12,665 Others — 5,335 Sub-total 3,365 128,538 Total COVID-19 42,046 686,384 Other business Others 333,766 6,761,598 Total 375,812 7,447,982 December 31, 2021 Loans and other Financial assets Financial assets Service business Distribution business General retail business 77,841 — — General wholesale business 292,832 — — Sub-total 370,673 — — Accommodation business 7,338 — — Travel business 57 — — Art/sports, leisure service 8,544 — — Food business 125,075 — — Transportation business 598,972 — — Education business 22,118 — — Others 102,787 — — Sub-total 1,235,564 — — Manufacturing Textile 727 — — Metal 2,824 — — Non-metal 698 — — Chemical 172 — — Transportation 438 — — Electronics 3,993 — — Cosmetics 685 — — Others 108,540 — — Sub-total 118,077 — — Total COVID-19 1,353,641 — — Other business Others 6,489,394 28,222 — Total 7,843,035 28,222 — December 31, 2021 Off-balance accounts Total Service business Distribution business General retail business — 77,841 General wholesale business — 292,832 Sub-total — 370,673 Accommodation business — 7,338 Travel business — 57 Art/sports, leisure service — 8,544 Food business — 125,075 Transportation business — 598,972 Education business — 22,118 Others 140,549 243,336 Sub-total 140,549 1,376,113 Manufacturing Textile — 727 Metal — 2,824 Non-metal — 698 Chemical — 172 Transportation — 438 Electronics — 3,993 Cosmetics — 685 Others 13,432 121,972 Sub-total 13,432 131,509 Total COVID-19 153,981 1,507,622 Other business Others 812,597 7,330,213 Total 966,578 8,837,835 < Woori Investment Bank Co., Ltd. > December 31, 2020 Loans and other Financial assets at Financial assets at Off-balance Total Accommodation business 44,900 — — — 44,900 Distribution business 15,716 20,000 — — 35,716 Art/sports, leisure service 28,000 — — — 28,000 Total 88,616 20,000 — — 108,616 December 31, 2021 Loans and other Financial assets at Financial assets at Off-balance Total Accommodation business 57,142 — — — 57,142 Distribution business 12,885 — — — 12,885 Art/sports, leisure service 31,772 — — — 31,772 Total 101,799 — — — 101,799 |
The maximum exposure to credit risk of financial assets, except for financial assets at FVTPL and derivative asset | The maximum exposure to credit risk by asset quality, except for financial assets at FVTPL and derivative asset (Designated for hedging) as of December 31, 2020 and 2021 is as follows (Unit: Korean Won in millions): December 31, 2020 Stage 1 Stage 2 Stage 3 Total Allowance Total, net Above rating (*1) Less than a rating (*3) Above rating (*2) Less than a rating (*3) Loans and other financial assets at amortized cost 278,729,012 21,249,885 10,356,251 10,143,839 1,623,276 322,102,263 (1,996,185 ) 320,106,078 Korean treasury and government agencies 9,674,891 1,063 52,279 — — 9,728,233 (2,514 ) 9,725,719 Banks 19,301,570 105,890 75,876 — 25,598 19,508,934 (15,745 ) 19,493,189 Corporates 93,889,922 14,873,376 1,890,564 3,860,389 839,234 115,353,485 (1,221,491 ) 114,131,994 General business 61,082,336 9,013,955 1,349,053 2,585,868 576,078 74,607,290 (869,744 ) 73,737,546 Small- and medium-sized 27,504,992 5,415,312 538,909 1,207,706 227,003 34,893,922 (304,077 ) 34,589,845 Project financing and others 5,302,594 444,109 2,602 66,815 36,153 5,852,273 (47,670 ) 5,804,603 Consumers 155,862,629 6,269,556 8,337,532 6,283,450 758,444 177,511,611 (756,435 ) 176,755,176 Securities at amortized cost 17,025,405 — — — — 17,025,405 (4,566 ) 17,020,839 Financial assets at FVTOCI (*3) 28,789,281 158,860 — — — 28,948,141 (9,631 ) 28,948,141 Total 324,543,698 21,408,745 10,356,251 10,143,839 1,623,276 368,075,809 (2,010,382 ) 366,075,058 December 31, 2020 Collateral value Stage1 Stage2 Stage3 Total Loans and other financial assets at amortized cost 187,731,443 15,677,871 696,709 204,106,023 Korean treasury and government agencies 19,280 — — 19,280 Banks 1,003,971 — — 1,003,971 Corporates 62,817,305 3,963,101 400,340 67,180,746 General business 35,578,470 2,670,480 271,815 38,520,765 Small- and medium-sized 25,404,002 1,290,941 118,265 26,813,208 Project financing and others 1,834,833 1,680 10,260 1,846,773 Consumers 123,890,887 11,714,770 296,369 135,902,026 Securities at amortized cost — — — — Financial assets at FVTOCI (*3) — — — — Total 187,731,443 15,677,871 696,709 204,106,023 (*1) Credit grade of corporates are AAA ~ BBB, and consumers are grades 1 ~ 6. (*2) Credit grade of corporates are BBB- (*3) Financial assets at FVTOCI has been disclosed as the amount before deducting allowance for credit losses because loss allowance does not reduce the carrying amount. December 31, 2021 Stage 1 Stage 2 Stage 3 Total Allowance Total, net Above (*1) Less than a (*2) Above (*1) Less than a (*2) Loans and other financial assets at amortized cost 316,364,525 22,734,430 13,270,491 10,190,307 1,332,644 363,892,397 (1,959,525 ) 361,932,872 Korean treasury and government agencies 14,938,718 9 9 — — 14,938,736 (3,923 ) 14,934,813 Banks 24,186,246 492,447 46,373 — 23,509 24,748,575 (15,555 ) 24,733,020 Corporates 108,917,062 15,952,017 2,698,907 3,963,782 658,923 132,190,691 (1,163,435 ) 131,027,256 General business 68,767,641 9,010,115 1,886,740 2,597,136 438,537 82,700,169 (785,908 ) 81,914,261 Small- and medium-sized 33,306,787 6,459,338 790,750 1,353,313 156,440 42,066,628 (322,635 ) 41,743,993 Project financing and others 6,842,634 482,564 21,417 13,333 63,946 7,423,894 (54,892 ) 7,369,002 Consumers 168,322,499 6,289,957 10,525,202 6,226,525 650,212 192,014,395 (776,612 ) 191,237,783 Securities at amortized cost 17,091,509 — — — — 17,091,509 (5,235 ) 17,086,274 Financial assets at FVTOCI (*3) 37,917,922 209,055 — — — 38,126,977 (12,146 ) 38,126,977 Total 371,373,956 22,943,485 13,270,491 10,190,307 1,332,644 419,110,883 (1,976,906 ) 417,146,123 December 31, 2021 Collateral value Stage1 Stage2 Stage3 Total Loans and other financial assets at amortized cost 208,188,057 18,098,940 643,183 226,930,180 Korean treasury and government agencies 20,679 — — 20,679 Banks 1,287,055 — — 1,287,055 Corporates 74,403,502 4,796,510 351,837 79,551,849 General business 40,288,663 3,120,790 220,792 43,630,245 Small- and medium-sized 30,852,567 1,675,720 80,830 32,609,117 Project financing and others 3,262,272 — 50,215 3,312,487 Consumers 132,476,821 13,302,430 291,346 146,070,597 Securities at amortized cost — — — — Financial assets at FVTOCI (*3) — — — — Total 208,188,057 18,098,940 643,183 226,930,180 (*1) Credit grade of corporates are AAA ~ BBB, and consumers are grades 1 ~ 6. (*2) Credit grade of corporates are BBB- (*3) Financial assets at FVTOCI has been disclosed as the amount before deducting allowance for credit losses because loss allowance does not reduce the carrying amount. |
Credit quality of the guarantees and loan commitments | The credit quality of the guarantees and loan commitments as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, 2020 Financial assets Stage 1 Stage 2 Stage3 Total Above (*1) Less than a (*2) Above (*1) Less than a (*2) Off-balance Guarantees 10,152,900 1,382,592 11,504 191,962 70,498 11,809,456 Loan Commitments 105,108,967 4,045,595 1,951,649 977,185 5,284 112,088,680 Total 115,261,867 5,428,187 1,963,153 1,169,147 75,782 123,898,136 (*1) Credit grade of corporates are AAA ~ BBB, and consumers are grades 1 ~ 6. (*2) Credit grade of corporate are BBB- December 31, 2021 Financial assets Stage 1 Stage 2 Stage3 Total Above credit rating (*1) Less than a (*2) Above (*1) Less than a (*2) Off-balance Guarantees 11,560,908 1,037,142 47,549 275,166 67,044 12,987,809 Loan Commitments 107,916,434 3,591,413 2,072,348 832,173 2,094 114,414,462 Total 119,477,342 4,628,555 2,119,897 1,107,339 69,138 127,402,271 (*1) Credit grade of corporates are AAA ~ BBB, and consumers are grades 1 ~ 6. (*2) Credit grade of corporates are BBB- |
Value at risk analysis for trading activities | The minimum, maximum and average VaR of the Bank for the year December 31, 2020 and 2021, and the VaR of the Bank as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, For the year ended December 31, 2020 December 31, For the year ended December 31, 2021 Risk factor Average Maximum Minimum Average Maximum Minimum Interest rate 6,815 7,959 15,065 2,427 4,177 4,681 14,017 2,405 Stock price 2,283 5,783 14,394 1,982 2,972 3,637 6,676 1,609 Foreign currencies 11,160 8,814 11,233 4,613 5,904 6,745 13,144 4,747 Diversification (11,087 ) (11,175 ) (18,796 ) (3,452 ) (6,072 ) (7,300 ) (20,006 ) (3,627 ) Total VaR (*) 9,171 11,381 21,896 5,570 6,981 7,763 13,831 5,134 (*) VaR (Value at Risk): Retention period of 1day, Maximum expected losses under 99% level of confidence. |
Economic value of equity and net interest income for assets and liabilities based on interest rate risk in banking book | For assets and liabilities as of December 31, 2020 and 2021 that include bank, consolidated trusts and subsidiaries of the bank, details of ΔEVE and ΔNII calculated based on interest rate risk in banking book (IRRBB) are as follows (Unit: Korean Won in millions): December 31, 2020 (*3) December 31, 2021 Δ EVE (*1) Δ NII (*2) Δ EVE (*1) Δ NII (*2) Woori Bank 634,596 66,138 920,290 195,186 Woori Card Co., Ltd. — — 126,576 59,114 Woori Financial Capital Co., Ltd. — — 58,794 1,384 Woori Investment Bank Co., Ltd. — — 17,607 5,556 Woori Asset Trust Co., Ltd. — — 820 1,709 Woori Asset Management Corp. — — 1,411 504 Woori Savings Bank — — 15,175 949 Woori Private Equity Asset Management Co., Ltd. — — 32 59 Woori Global Asset Management Co., Ltd. — — 246 143 (*1) ΔEVE: change in Economic Value of Equity (*2) ΔNII: change in Net Interest Income (*3) As of December 31, 2020, for the remaining subsidiaries except the bank, consolidated trusts, and consolidated subsidiaries of the bank, EVE and NII were not calculated. |
Interest earning at risk and interest value at risk calculated based on BIS framework for subsidiaries other than the Bank and consolidated trusts | For the remaining subsidiaries except the bank, consolidated trusts, and consolidated subsidiaries of the bank as of December 31, 2020, the interest rate EaR and VaR calculated based on the BIS Framework are as follows (Unit: Korean Won in millions): December 31, 2020 EaR (*1) VaR (*2) Woori Card Co., Ltd. 106,645 157,085 Woori Financial Capital Co., Ltd. 3,701 12,550 Woori Investment Bank Co., Ltd. 1,479 5,005 Woori Asset Trust Co., Ltd. 3,211 398 Woori Asset Management Corp. 64 493 Woori Private Equity Asset Management Co., Ltd. 193 37 Woori Global Asset Management Co., Ltd. 119 318 (*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, 2020 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 177,214,415 54,035,826 12,410,513 11,140,520 64,799,854 5,170,572 324,771,700 Financial assets at FVTPL 609,542 263,510 91,791 94,879 150,148 13,239 1,223,109 Financial assets at FVTOCI 4,344,718 3,339,086 3,751,882 2,915,238 14,648,033 473,124 29,472,081 Securities at amortized cost 1,372,094 1,471,309 933,715 1,869,352 11,080,632 1,018,002 17,745,104 Total 183,540,769 59,109,731 17,187,901 16,019,989 90,678,667 6,674,937 373,211,994 Liability: Deposits due to customers 127,557,303 46,471,099 35,455,403 29,354,652 52,395,811 50,655 291,284,923 Borrowings 11,223,338 2,832,846 1,126,728 949,892 3,828,384 452,495 20,413,683 Debentures 3,246,233 3,396,427 3,929,346 3,495,915 21,899,788 3,257,026 39,224,735 Total 142,026,874 52,700,372 40,511,477 33,800,459 78,123,983 3,760,176 350,923,341 December 31, 2021 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 205,915,030 58,661,091 14,461,769 12,840,318 62,337,321 5,204,605 359,420,134 Financial assets at FVTPL 1,725,063 52,361 49,843 17,817 223,107 13,501 2,081,692 Financial assets at FVTOCI 5,489,649 4,741,319 3,915,011 4,139,102 19,962,071 634,111 38,881,263 Securities at amortized cost 1,297,865 847,134 813,405 949,475 11,990,559 2,116,986 18,015,424 Total 214,427,607 64,301,905 19,240,028 17,946,712 94,513,058 7,969,203 418,398,513 Liability: Deposits due to customers 145,744,829 47,792,440 33,334,918 28,615,157 62,635,705 59,155 318,182,204 Borrowings 11,422,868 4,168,941 1,788,597 1,540,533 5,119,291 428,660 24,468,890 Debentures 8,325,421 3,035,764 3,203,743 3,174,902 25,036,943 3,342,284 46,119,057 Total 165,493,118 54,997,145 38,327,258 33,330,592 92,791,939 3,830,099 388,770,151 |
Foreign currency risk exposure of financial instruments in foreign currency | Financial instruments in foreign currencies exposed to currency risk as of December 31, 2020 and 2021 are as follows (Unit: USD in millions, JPY in millions, CNY in millions, EUR in millions, and Korean Won in millions): December 31, 2020 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 Cash and cash equivalents 5,584 6,074,879 22,832 240,710 4,580 764,686 115 154,154 501,900 7,736,329 Loans and other financial assets at amortized cost 21,687 23,595,957 172,782 1,821,554 24,230 4,045,435 2,001 2,678,382 4,857,438 36,998,766 Financial assets at FVTPL 280 304,146 18,855 198,781 73 11,989 248 332,182 88,745 935,843 Financial assets at FVTOCI 2,741 2,981,832 — — 2,601 434,258 37 49,789 565,893 4,031,772 Securities at amortized cost 319 347,570 — — — — 34 45,197 115,534 508,301 Total 30,611 33,304,384 214,469 2,261,045 31,484 5,256,368 2,435 3,259,704 6,129,510 50,211,011 Liability Financial liabilities at FVTPL 426 463,678 14,493 152,792 — — 158 211,525 115,429 943,424 Deposits due to customers 16,664 18,130,448 220,153 2,320,983 26,733 4,463,300 1,532 2,050,400 3,443,631 30,408,762 Borrowings 5,657 6,154,464 48,446 510,750 — — 590 789,955 697,234 8,152,403 Debentures 3,973 4,322,800 — — — — — — 444,711 4,767,511 Other financial liabilities 2,381 2,590,147 6,705 70,690 1,853 309,319 64 85,553 193,128 3,248,837 Total 29,101 31,661,537 289,797 3,055,215 28,586 4,772,619 2,344 3,137,433 4,894,133 47,520,937 Off-balance 7,441 8,095,297 24,992 263,478 3,007 502,106 533 712,846 556,988 10,130,715 December 31, 2021 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 Cash and cash equivalents 3,176 3,765,460 15,834 163,131 1,236 230,188 94 125,513 826,870 5,111,162 Loans and other financial assets at amortized cost 28,771 34,108,109 164,976 1,679,982 23,733 4,420,551 2,329 3,126,363 5,749,685 49,084,690 Financial assets at FVTPL 468 556,296 14,618 150,596 — — 327 438,662 71,369 1,216,923 Financial assets at FVTOCI 3,195 3,787,466 — — 3,899 726,310 33 44,638 741,348 5,299,762 Securities at amortized cost 240 283,935 — — 499 92,917 29 39,142 138,422 554,416 Total 35,850 42,501,266 195,428 1,993,709 29,367 5,469,966 2,812 3,774,318 7,527,694 61,266,953 Liability Financial liabilities at FVTPL 274 324,420 16,384 168,798 — — 239 321,354 203,523 1,018,095 Deposits due to customers 19,803 23,476,384 219,514 2,261,520 26,342 4,906,441 1,640 2,201,233 4,798,322 37,643,900 Borrowings 5,766 6,835,191 31,601 325,745 — — 349 469,124 1,395,597 9,025,657 Debentures 3,566 4,228,055 — — — — — — 341,621 4,569,676 Other financial liabilities 2,739 3,247,454 10,673 109,958 2,658 495,125 335 449,897 211,392 4,513,826 Total 32,148 38,111,504 278,172 2,866,021 29,000 5,401,566 2,563 3,441,608 6,950,455 56,771,154 Off-balance 8,047 9,540,185 32,777 337,685 2,533 471,852 598 803,357 1,250,186 12,403,265 |
Cash flows of principals and interests of non-derivative financial liabilities by remaining contractual maturities | a) Cash flows of principals and interests by remaining contractual maturities of non-derivative December 31, 2020 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 64,183 135,232 42,418 112,102 — — 353,935 Deposits due to customers 191,660,253 34,349,298 25,213,410 31,144,452 9,230,904 1,793,143 293,391,460 Borrowings 10,159,819 2,524,572 1,714,490 1,866,810 4,177,634 463,376 20,906,701 Debentures 3,246,233 3,396,427 3,929,346 3,495,915 21,899,788 3,257,228 39,224,937 Lease liabilities 53,429 44,551 40,809 34,761 201,113 34,780 409,443 Other financial liabilities 8,121,978 70,277 10,294 10,897 451,096 2,142,772 10,807,314 Total 213,305,895 40,520,357 30,950,767 36,664,937 35,960,535 7,691,299 365,093,790 December 31, 2021 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 100,976 10,397 91,785 107,230 — — 310,388 Deposits due to customers 224,881,863 32,559,199 20,290,566 31,768,748 9,213,279 1,615,198 320,328,853 Borrowings 9,477,536 4,366,223 2,415,548 2,494,732 5,800,815 440,506 24,995,360 Debentures 3,068,600 4,201,926 5,316,672 5,371,869 24,982,746 3,342,284 46,284,097 Lease liabilities 41,731 53,245 30,148 25,494 156,228 38,275 345,121 Other financial liabilities 17,614,313 290,584 12,190 11,894 610,514 1,999,198 20,538,693 Total 255,185,019 41,481,574 28,156,909 39,779,967 40,763,582 7,435,461 412,802,512 |
Cash flows from principals and interests of non-derivative financial liabilities by expected maturities | b) Cash flows of principals and interests by expected maturities of non-derivative December 31, 2020 Within 3 4 to 6 months 7 to 9 months 10 to 12 1 to 5 years Over 5 Total Financial liabilities at FVTPL 68,909 131,496 41,428 112,102 — — 353,935 Deposits due to customers 199,931,480 35,912,096 23,924,403 25,477,917 7,582,278 105,413 292,933,587 Borrowings 10,159,819 2,524,572 1,714,490 1,866,810 4,177,634 463,376 20,906,701 Debentures 3,246,233 3,396,427 3,929,346 3,495,915 21,899,788 3,257,228 39,224,937 Lease liabilities 53,429 44,894 40,949 35,074 208,125 36,950 419,421 Other financial liabilities 8,121,978 70,277 10,294 10,897 451,096 2,142,772 10,807,314 Total 221,581,848 42,079,762 29,660,910 30,998,715 34,318,921 6,005,739 364,645,895 December 31, 2021 Within 3 4 to 6 months 7 to 9 months 10 to 12 1 to 5 years Over 5 Total Financial liabilities at FVTPL 100,976 10,397 91,785 107,230 — — 310,388 Deposits due to customers 230,823,884 33,705,990 20,107,790 27,331,774 7,871,688 89,643 319,930,769 Borrowings 9,477,536 4,366,223 2,415,548 2,494,732 5,800,815 440,506 24,995,360 Debentures 3,068,600 4,201,926 5,316,672 5,371,869 24,982,746 3,342,284 46,284,097 Lease liabilities 41,716 53,260 30,216 25,653 162,092 41,814 354,751 Other financial liabilities 17,614,313 290,584 12,190 11,894 610,514 1,999,198 20,538,693 Total 261,127,025 42,628,380 27,974,201 35,343,152 39,427,855 5,913,445 412,414,058 |
Cash flow of derivative financial liabilities by maturities | The cash flow by the maturity of derivative financial liabilities as of December 31, 2020 and 2021 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, 2020 Cash flow risk hedge 2,655 6,004 515 239 55,744 — 65,157 Fair value risk hedge 255 (302 ) 233 (287 ) 126 — 25 Trading purpose 6,460,472 — — — — — 6,460,472 December 31, 2021 Cash flow risk hedge 246 (206 ) (502 ) (717 ) (2,744 ) (4,053 ) (7,976 ) Fair value risk hedge (1,656 ) 598 (940 ) 1,392 21,552 — 20,946 Trading purpose 4,566,443 — — — — — 4,566,443 |
Maturity analysis of off-balance accounts | 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. The loan commitment represents the limit if the Group has promised a credit to the customer. 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, 2020 December 31, 2021 Guarantees 11,809,456 12,987,809 Loan commitments 112,088,680 114,414,462 Other commitments 4,933,086 3,427,331 |
Capital adequacy ratio | Details of the Group’s capital adequacy ratio as of December 31,2020 and 2021 are as follows (Unit: Korean Won in millions): Details December 31, 2020 December 31, 2021 Common Equity 19,828,094 21,948,988 Other Tier 1 capital 3,533,648 3,592,591 Tier 2 capital 4,086,035 3,399,065 Total risk-adjusted capital 27,447,777 28,940,644 Risk-weighted assets for credit risk 178,114,590 171,199,840 Risk-weighted assets for market risk 6,086,905 6,388,428 Risk-weighted assets for operational risk 14,067,185 14,914,801 Total risk-weighted assets 198,268,680 192,503,069 Common Equity Tier 1 ratio 10.00 % 11.40 % Tier 1 capital ratio 11.78 % 13.27 % Total capital ratio 13.84 % 15.03 % |
Operating Segments (Tables)
Operating Segments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of operating segments [abstract] | |
Segment by type of organization | (1) Segment by type of organization The Group’s reporting segments consist of banking, credit card, capital, investment banking and other sectors, and the composition of such reporting segments was divided based on internal report data periodically reviewed by the management to evaluate the performance of the segment and make decisions on the resources to be distributed. Operational scope Banking Loans/deposits and relevant services for Woori Bank subsidiaries’ customers Credit card Credit card, cash services, card loans and accompanying business of Woori Card Co., Ltd. Capital Installments, loans including lease financing, and accompanying business of Woori Financial Capital Co., Ltd. Investment Banking Securities operation, sale of financial instruments, project financing and other related activities for comprehensive financing of Woori Investment bank Co., Ltd. Others Woori Financial Group Inc.,Woori Asset Trust Co., Ltd., Woori Asset Management Corp., Ltd., Woori Savings Bank., Woori Credit Information Co., Ltd., Woori Fund Services Inc., Woori Private Equity Asset Management Co., Ltd., Woori Global Asset Management Co., Ltd., Woori FIS Co., Ltd. and Woori Finance Research Institute, |
Major non-current assets from external customers | (4) Major non-current Details (*) December 31, 0 (*) December 31, 1 (*) Domestic 5,026,161 5,201,838 Foreign 433,869 482,930 Total 5,460,030 5,684,768 (*) Major non-current |
Reconciliation of operating profit loss from segments to consolidated | (2) The composition of each organization’s sectors for the years ended December 31, 2019, 2020 and 2021 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2019 Banking Credit card Investment banking Others (*1) Sub-total Adjustments (*2) Total Net Interest income 4,583,386 553,956 54,077 2,290 5,193,709 699,997 5,893,706 Non-interest 1,557,247 31,842 33,539 957,880 2,580,508 (1,533,917 ) 1,046,591 Impairment losses due to credit loss (32,621 ) (259,604 ) (572 ) (538 ) (293,335 ) (80,909 ) (374,244 ) General and administrative expense (3,478,535 ) (190,062 ) (31,183 ) (323,528 ) (4,023,308 ) 257,231 (3,766,077 ) Net operating income (expense) 2,629,477 136,132 55,861 636,104 3,457,574 (657,598 ) 2,799,976 Share of gain (loss) of associates (43,102 ) — — (301 ) (43,403 ) 127,400 83,997 Other non-operating income (expense) (108,246 ) 13,889 (3,501 ) (1,244 ) (99,102 ) (61,822 ) (160,924 ) Non-operating (151,348 ) 13,889 (3,501 ) (1,545 ) (142,505 ) 65,578 (76,927 ) Net income (expense) before tax 2,478,129 150,021 52,360 634,559 3,315,069 (592,020 ) 2,723,049 Tax income (expense) (616,110 ) (35,825 ) 998 (1,294 ) (652,231 ) (33,222 ) (685,453 ) Net income (loss) 1,862,019 114,196 53,358 633,265 2,662,838 (625,242 ) 2,037,596 Total assets 347,819,743 10,087,342 3,398,960 21,681,769 382,987,814 (21,007,090 ) 361,980,724 Investment in associate 3,161,729 — 775 19,880,642 23,043,146 (22,236,786 ) 806,360 Other assets 344,658,014 10,087,342 3,398,185 1,801,127 359,944,668 1,229,696 361,174,364 Total liabilities 323,592,850 8,299,175 3,031,622 1,225,422 336,149,069 339,323 336,488,392 (*1) Other segments include gains and losses from Woori Financial Group Inc., Woori Asset Management Corp., Woori Credit Information Co., Ltd., Woori Fund Service Inc., Woori Private Equity Asset Management Co., Ltd., Woori Global Asset Management Co., Ltd., Woori FIS Co., Ltd. and Woori Finance Research Co., Ltd., (*2) Adjustments were made for the presentation of profit or loss in accordance with the Accounting Standards from the reporting segments in accordance with the Managerial Accounting Standards. For the year ended December 31, 2020 Banking (*1) Credit card Investment banking Others (*2) Sub-total Adjustments (*3) Total Net Interest income 4,545,155 564,461 78,302 69,188 5,257,106 741,406 5,998,512 Non-interest 1,423,286 3,648 34,497 1,071,852 2,533,283 (1,710,849 ) 822,434 Impairment losses due to credit loss (512,008 ) (195,816 ) (4,146 ) (43,660 ) (755,630 ) (28,741 ) (784,371 ) General and administrative expense (3,545,186 ) (207,301 ) (39,039 ) (416,595 ) (4,208,121 ) 251,940 (3,956,181 ) Net operating income (expense) 1,911,247 164,992 69,614 680,785 2,826,638 (746,244 ) 2,080,394 Share (6,895 ) — 170 1,255 (5,470 ) 106,547 101,077 Other non-operating (50,132 ) (5,569 ) (945 ) (484 ) (57,130 ) (123,090 ) (180,220 ) Non-operating (57,027 ) (5,569 ) (775 ) 771 (62,600 ) (16,543 ) (79,143 ) Net income (expense) before tax 1,854,220 159,423 68,839 681,556 2,764,038 (762,787 ) 2,001,251 Tax income (expense) (437,288 ) (39,193 ) (5,902 ) (29,372 ) (511,755 ) 25,753 (486,002 ) Net income (loss) 1,416,932 120,230 62,937 652,184 2,252,283 (737,034 ) 1,515,249 Total assets 374,120,064 11,366,596 4,332,474 31,872,690 421,691,824 (22,610,807 ) 399,081,017 Investment 3,382,650 — 2,494 21,586,506 24,971,650 (23,978,359 ) 993,291 Other 370,737,414 11,366,596 4,329,980 10,286,184 396,720,174 1,367,552 398,087,726 Total liabilities 348,706,682 9,312,986 3,803,594 9,606,742 371,430,004 925,168 372,355,172 (*1) The banking sector includes the Bank and overseas subsidiaries. (*2) Other segments include gains and losses from Woori Financial Group Inc., Woori Financial Capital Co., Ltd. (Profit or loss for 3 months after incorporation into subsidiary), Woori Asset Trust Co., Ltd., Woori Asset Management Corp., Woori Credit Information Co., Ltd., Woori Fund Service Inc., Woori Private Equity Asset Management Co., Ltd., Woori Global Asset Management Co., Ltd., Woori FIS Co., Ltd. and Woori Finance Research Co., Ltd. (*3) Adjustments were made for the presentation of profit or loss in accordance with the Accounting Standards from the reporting segments in accordance with the Managerial Accounting Standards. For the year ended December 31, 2021 Banking (*1) Credit card Capital Investment banking Others (*2) Sub-total Adjustments (*3) Total Net interest income 5,158,078 606,506 315,600 108,321 29,515 6,218,020 767,701 6,985,721 Non-interest 1,661,903 63,839 95,297 49,419 1,111,422 2,981,880 (1,623,603 ) 1,358,277 Impairment losses due to credit loss (140,574 ) (164,097 ) (122,089 ) (1,885 ) (19,601 ) (448,246 ) (88,592 ) (536,838 ) General and administrative expense (3,606,715 ) (225,175 ) (99,048 ) (51,490 ) (440,601 ) (4,423,029 ) 275,618 (4,147,411 ) Net operating income(expense) 3,072,692 281,073 189,760 104,365 680,735 4,328,625 (668,876 ) 3,659,749 Share of gain (loss) of associates 60,049 — 1,000 750 4,390 66,189 (3,993 ) 62,196 Other non-operating (19,654 ) (7,936 ) (16,943 ) (660 ) (1,071 ) 15,932 11,364 (34,900 ) Non-operating 40,395 (7,936 ) (15,943 ) 90 3,319 82,121 7,371 27,296 Net income (expense) before tax 3,113,087 273,137 173,817 104,455 684,054 4,410,746 (661,505 ) 3,687,045 Tax expense (773,073 ) (72,411 ) (33,238 ) (24,531 ) (16,799 ) (937,156 ) (4,714 ) (924,766 ) Net income (loss) 2,340,014 200,726 140,579 79,924 667,255 3,473,590 (666,219 ) 2,762,279 Total assets 415,976,627 14,116,832 10,259,868 5,159,742 25,627,649 471,140,718 (23,956,847 ) 447,183,871 Investment in associate 858,706 — 12,403 8,846 22,165,895 23,045,850 (21,710,683 ) 1,335,167 Other assets 415,117,921 14,116,832 10,247,465 5,150,896 3,461,754 448,094,868 (2,246,164 ) 445,848,704 Total liabilities 391,360,200 11,858,065 9,073,104 4,559,856 3,284,269 420,090,402 (1,756,726 ) 418,378,768 (*1) The banking sector includes the Bank and their consolidated subsidiaries (such as overseas subsidiaries). (*2) Other segments include Woori Financial Group Inc., Woori Asset Trust Co., Ltd., Woori Asset Management Corp., Woori Savings Bank, Woori Credit Information Co., Ltd., Woori Fund Service Inc., Woori Private Equity Asset Management Co., Ltd., Woori Global Asset Management Co., Ltd., Woori FIS Co., Ltd. and Woori Finance Research Institute. (*3) Adjustments were made for the presentation of profit or loss in accordance with the Accounting Standards from the reporting segments in accordance with the Managerial Accounting Standards. |
Operating income or loss and major non-current assets from external customers | (3) Operating profit or loss from external customers for the years ended December 31, 2019, 2020 and 2021 are as follows (Unit: Korean Won in millions): For the years ended December 31 Details 2019 2020 2021 Domestic 2,500,504 1,869,516 3,288,341 Foreign 299,472 210,878 371,408 Total 2,799,976 2,080,394 3,659,749 |
Statements of cash flows (Table
Statements of cash flows (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Cash and cash equivalents [abstract] | |
Summary of cash and cash equivalents | (1) Details of cash and cash equivalents are as follows (Unit: Korean Won in millions): December 31, December 31, Cash 1,611,282 1,742,449 Foreign currencies 514,565 503,205 Demand deposits 7,314,353 5,161,529 Fixed deposits 550,783 158,635 Total 9,990,983 7,565,818 |
Summary of Significant transactions of investing activities and financing activities not involving cash inflows and outflows | (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 December 31 2019 2020 2021 Changes in other comprehensive income related to valuation of financial assets at FVTOCI (14,141 ) 59,360 (150,327 ) Changes in other comprehensive income related to valuation of investments in joint ventures and associates 613 (2,298 ) 1,526 Changes in other comprehensive income related to valuation loss on cash flow hedge (1,823 ) 4,420 7,107 Changes in financial assets at FVTOCI due to debt-for-equity 96,527 3,575 79 Changes in the investments in joint ventures and associates due to the transfer of assets held-for-sale 651 (50,411 ) (52 ) Changes in financial assets at FVTPL and assets held-for-sale — (2,385 ) — Transfer from property, plant and equipment to assets held-for-sale (95 ) — (12,852 ) Transfer of investment properties and premises and equipment 166,892 30,431 6,095 Changes in account payables related to intangible assets 29,705 (11,639 ) (11,640 ) Changes in right-of-use 692,103 222,587 150,644 Comprehensive stock exchange 581,609 — 64,301 Changes in other comprehensive income related to foreign operation translation — (153,472 ) 246,808 |
Summary of Adjustments of liabilities from financing activities | (3) Adjustments of liabilities from financing activities in current and prior year are as follows (Unit: Korean Won in millions): For the year ended December 31, 2020 Beginning Cash flow Not involving cash inflows and outflows Ending Foreign Variation of Business Combination Others(*) Borrowings 18,998,920 2,033,851 (586,215 ) — 298,854 56 20,745,466 Debentures 30,858,055 913,836 (290,041 ) 58,861 5,980,746 (42,099 ) 37,479,358 Lease liabilities 419,045 (204,794 ) (5,141 ) — 3,751 194,570 407,431 Other liabilities 23,909 3,971 — — — (1,526 ) 26,354 Total 50,299,929 2,746,864 (881,397 ) 58,861 6,283,351 151,001 58,658,609 (*) The change in lease liabilities due to the new contract includes 231,325 million Won. For the year ended December 31, 2021 Beginning Cash flow Not involving cash inflows and outflows Ending Foreign Variation of items Others (*) Borrowings 20,745,466 3,199,712 804,649 — 5,632 24,755,459 Debentures 37,479,358 6,893,661 392,077 (104,306 ) (6,926 ) 44,653,864 Lease liabilities 407,431 (177,593 ) 10,950 — 102,425 343,213 Other liabilities 26,354 14,173 — — (13,620 ) 26,907 Total 58,658,609 9,929,953 1,207,676 (104,306 ) 87,511 69,779,443 (*) The change in lease liabilities due to the new contract includes 189,660 million Won. |
Financial Assets at FVTPL (Tabl
Financial Assets at FVTPL (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Financial assets at fair value through profit or loss [abstract] | |
Financial assets at fair value through profit or loss | (1) Details of financial assets at FVTPL as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, December 31, Financial assets at fair value through profit or loss measured at fair value 14,762,941 13,497,234 |
Financial assets at fair value through profit or loss measured at fair value | (2) Financial assets at fair value through profit or loss measured at fair value as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, December 31, Deposits: Gold banking asset 48,796 65,072 Securities: Debt securities Korean treasury and government agencies 1,020,418 995,713 Financial institutions 873,031 925,474 Corporates 761,681 751,636 Others 231,967 70,416 Equity securities 485,793 329,864 Capital contributions 865,685 1,287,723 Beneficiary certificates 2,812,558 3,504,547 Others 84,979 94,673 Sub-total 7,136,112 7,960,046 Loans 676,291 667,467 Derivatives assets 6,901,742 4,803,131 Other financial assets — 1,518 Total 14,762,941 13,497,234 |
Financial Assets at FVTOCI (Tab
Financial Assets at FVTOCI (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Financial assets at fair value through other comprehensive income [abstract] | |
Details of financial assets at FVTOCI | (1) Details of financial assets at FVTOCI as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, December 31, Debt securities: Korean treasury and government agencies 2,922,671 4,728,085 Financial institutions 17,996,660 22,909,615 Corporates 3,896,744 5,091,035 Bond denominated in foreign currencies 4,031,721 5,299,707 Securities loaned 100,345 98,535 Sub-total 28,948,141 38,126,977 Equity securities 1,080,788 992,812 Total 30,028,929 39,119,789 |
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [text block] | (2) Details of equity securities designated as financial assets at FVTOCI as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): Purpose of acquisition December 31, December 31, Purpose of acquisition Investment for strategic business partnership purpose 778,657 796,835 Debt-equity swap 302,090 195,971 Others 41 6 Insurance for mutual aid association etc. Total 1,080,788 992,812 |
Changes in allowance for credit losses of financial assets at FVTOCI | (3) Changes in the allowance for credit losses and gross carrying amount of financial assets at FVTOCI are as follows (Unit: Korean Won in millions): 1) Allowance for credit losses For the year ended December 31, 2019 Stage 1 Stage 2 Stage 3 Total Beginning balance (5,939 ) (238 ) — (6,177 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net provision of allowance for credit losses (3,297 ) — — (3,297 ) Disposal 615 238 — 853 Others (*) 52 — — 52 Ending balance (8,569 ) — — (8,569 ) (*) Others consist of foreign currencies translation, etc.. For the year ended December 31, 2020 Stage 1 Stage 2 Stage 3 Total Beginning balance (8,569 ) — — (8,569 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net provision of allowance for credit losses (1,529 ) — — (1,529 ) Disposal 764 — — 764 Others (*) (297 ) — — (297 ) Ending balance (9,631 ) — — (9,631 ) (*) Others consist of foreign currencies translation, etc. For the year ended December 31, 2021 Stage 1 Stage 2 Stage 3 Total Beginning balance (9,631 ) — — (9,631 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net provision of allowance for credit losses (4,909 ) — — (4,909 ) Disposal 2,378 — — 2,378 Others (*) 16 — — 16 Ending balance (12,146 ) — — (12,146 ) (*) Others consist of foreign currencies translation, etc. |
Changes in gross carrying amount of financial assets at FVTOCI | 2) Gross carrying amount For the year ended December 31, 2019 Stage 1 Stage 2 Stage 3 Total Beginning balance 17,087,096 25,153 — 17,112,249 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Acquisition 23,774,375 — — 23,774,375 Disposal / Recovery (14,224,358 ) (25,000 ) — (14,249,358 ) Gain (loss) on valuation 48,956 (153 ) — 48,803 Amortization based on effective interest method 14,629 — — 14,629 Business combination 24,985 — — 24,985 Others (*) 69,478 — — 69,478 Ending balance 26,795,161 — — 26,795,161 (*) Others consist of foreign currencies translation, etc. For the year ended December 31, 2020 Stage 1 Stage 2 Stage 3 Total Beginning balance 26,795,161 — — 26,795,161 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Acquisition 22,970,010 — — 22,970,010 Disposal / Recovery (20,530,076 ) — — (20,530,076 ) Gain (loss) on valuation 17,957 — — 17,957 Amortization based on effective interest method (12,545 ) — — (12,545 ) Others (*) (292,366 ) — — (292,366 ) Ending balance 28,948,141 — — 28,948,141 (*) Others consist of foreign currencies translation, etc. For the year ended December 31, 2021 Stage 1 Stage 2 Stage 3 Total Beginning balance 28,948,141 — — 28,948,141 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Acquisition 30,522,426 — — 30,522,426 Disposal / Recovery (21,533,360 ) — — (21,533,360 ) Gain (loss) on valuation (213,517 ) — — (213,517 ) Amortization based on effective interest method 31,641 — — 31,641 Others (*) 371,646 — — 371,646 Ending balance 38,126,977 — — 38,126,977 (*) Others consist of foreign currencies translation, etc. |
Securities at Amortized Cost (T
Securities at Amortized Cost (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of securities at amortised cost [Abstract] | |
Details of securities at amortized cost | (1) Details of securities at amortized cost as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, December 31, Korean treasury and government agencies 6,947,495 8,882,500 Financial institutions 4,843,534 1,835,947 Corporates 4,726,075 5,818,646 Bond denominated in foreign currencies 508,301 554,416 Allowance for credit losses (4,566 ) (5,235 ) Total 17,020,839 17,086,274 |
Changes in allowance for credit losses of securities at amortized cost | (2) Changes in the allowance for credit losses and gross carrying amount of securities at amortized cost are as follows (Unit: Korean Won in millions): 1) Allowance for credit losses For the year ended December 31, 2019 Stage 1 Stage 2 Stage 3 Total Beginning balance (6,924 ) — — (6,924 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net reversal of allowance for credit losses 1,415 — — 1,415 Others (*) (2 ) — — (2 ) Ending balance (5,511 ) — — (5,511 ) (*) Others consist of foreign currencies translation, etc. For the year ended December 31, 2020 Stage 1 Stage 2 Stage 3 Total Beginning balance (5,511 ) — — (5,511 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net reversal of allowance for credit losses 934 — — 934 Others (*) 11 — — 11 Ending balance (4,566 ) — — (4,566 ) (*) Others consist of foreign currencies translation, etc. For the year ended December 31, 2021 Stage 1 Stage 2 Stage 3 Total Beginning balance (4,566 ) — — (4,566 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net provision of allowance for credit losses (664 ) — — (664 ) Others (*) (5 ) — — (5 ) Ending balance (5,235 ) — — (5,235 ) (*) Others consist of foreign currencies translation, etc. |
Changes in gross carrying amount of securities at amortized cost | 2) Gross carrying amount For the year ended December 31, 2019 Stage 1 Stage 2 Stage 3 Total Beginning balance 22,939,484 — — 22,939,484 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Acquisition 6,092,078 — — 6,092,078 Disposal / Recovery (8,709,947 ) — — (8,709,947 ) Amortization based on effective interest method (3,286 ) — — (3,286 ) Others (*) 7,721 — — 7,721 Ending balance 20,326,050 — — 20,326,050 (*) Others consist of foreign currencies translation, etc. For the year ended December 31, 2020 Stage 1 Stage 2 Stage 3 Total Beginning balance 20,326,050 — — 20,326,050 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Acquisition 2,380,448 — — 2,380,448 Disposal / Recovery (5,659,365 ) — — (5,659,365 ) Amortization based on effective interest method (396 ) — — (396 ) Others (*) (21,332 ) — — (21,332 ) Ending balance 17,025,405 — — 17,025,405 (*) Others consist of foreign currencies translation, etc. For the year ended December 31, 2021 Stage 1 Stage 2 Stage 3 Total Beginning balance 17,025,405 — — 17,025,405 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Acquisition 6,435,692 — — 6,435,692 Disposal / Recovery (6,425,408 ) — — (6,425,408 ) Amortization based on effective interest method 14,810 — — 14,810 Others (*) 41,010 — — 41,010 Ending balance 17,091,509 — — 17,091,509 (*) Others consist of foreign currencies translation, etc. |
Loans and other financial ass_2
Loans and other financial assets at amortized cost (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of loans and other financial assets at amortized cost [Abstract] | |
Details of loans and other financial assets at amortized cost | (1) Details of loans and other financial assets at amortized cost as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, December 31, Due from banks 9,863,160 15,914,139 Loans 302,794,182 336,799,510 Other financial assets 7,448,736 9,219,223 Total 320,106,078 361,932,872 |
Details of due from banks | (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”) 6,519,226 10,219,055 Due from depository banks 84,195 159,264 Due from non-depository 266 14,146 Due from the Korea Exchange 227 54 Others 172,914 191,501 Allowance for credit losses (1,576 ) (2,452 ) Sub-total 6,775,252 10,581,568 Due from banks in foreign currencies: Due from banks on demand 1,608,126 3,615,983 Due from banks on time 296,489 205,351 Others 1,186,083 1,514,819 Allowance for credit losses (2,790 ) (3,582 ) Sub-total 3,087,908 5,332,571 Total 9,863,160 15,914,139 |
Details of restricted due from banks | (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 6,519,226 Reserve deposits under the BOK Act Due from KSFC KB Securities Co. Ltd. 227 Futures trading margin Others Korea Federation of Savings Banks and others 89,562 Guarantees, mortgage of domestic exchange transactions and others Sub-total 6,609,015 Due from banks in foreign currencies: Due from banks on demand The BOK and others 1,544,492 Reserve deposits under the BOK Act and others Due from banks on time National Bank Cambodia 54 Reserve deposits and others Others Korea Investment & Securities and others 1,180,570 Overseas futures and options trade deposits and others Sub-total 2,725,116 Total 9,334,131 Counterparty December 31, Reason of restriction Due from banks in local currency: Due from BOK The BOK 10,219,055 Reserve deposits under the BOK Act Due from KSFC KB Securities Co. Ltd. 54 Futures trading margin Others Korea Federation of Savings Banks and others 75,897 Guarantees, mortgage of domestic exchange transactions and others Sub-total 10,295,006 Due from banks in foreign currencies: Due from banks on demand The BOK and others 3,549,695 Reserve deposits under the BOK Act and others Due from banks on time National Bank Cambodia 237 Reserve deposits and others Others Korea Investment & Securities and others 1,509,471 Overseas futures and options trade deposits and others Sub-total 5,059,403 Total 15,354,409 |
Changes in allowance for credit losses of due from banks | 1) Allowance for credit losses For the year ended December 31, 2019 Stage 1 Stage 2 Stage 3 Total Beginning balance (5,387 ) — — (5,387 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Reversal of allowance for credit losses 544 — — 544 Others (*) (17 ) — — (17 ) Ending balance (4,860 ) — — (4,860 ) (*) Others consist of foreign currencies translation, etc. For the year ended December 31, 2020 Stage 1 Stage 2 Stage 3 Total Beginning balance (4,860 ) — — (4,860 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Reversal of allowance for credit losses 315 — — 315 Others (*) 179 — — 179 Ending balance (4,366 ) — — (4,366 ) (*) Others consist of foreign currencies translation, etc. For the year ended December 31, 2021 Stage 1 Stage 2 Stage 3 Total Beginning balance (4,366 ) — — (4,366 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Provision of allowance for credit losses (1,477 ) — — (1,477 ) Others (*) (191 ) — — (191 ) Ending balance (6,034 ) — — (6,034 ) (*) Others consist of foreign currencies translation, etc. |
Changes in gross carrying amount of due from banks | 2) Gross carrying amount For the year ended December 31, 2019 Stage 1 Stage 2 Stage 3 Total Beginning balance 14,156,399 — — 14,156,399 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net increase 313,991 — — 313,991 Business combination 35,910 — — 35,910 Others (*) (9,217 ) — — (9,217 ) Ending balance 14,497,083 — — 14,497,083 (*) Others consist of foreign currencies translation, etc. For the year ended December 31, 2020 Stage 1 Stage 2 Stage 3 Total Beginning balance 14,497,083 — — 14,497,083 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net decrease (4,759,053 ) — — (4,759,053 ) Business combination 129,825 — — 129,825 Others (*) (329 ) — — (329 ) Ending balance 9,867,526 — — 9,867,526 (*) Others consist of foreign currencies translation, etc. For the year ended December 31, 2021 Stage 1 Stage 2 Stage 3 Total Beginning balance 9,867,526 — — 9,867,526 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net increase 5,977,989 — — 5,977,989 Others (*) 74,658 — — 74,658 Ending balance 15,920,173 — — 15,920,173 (*) Others consist of foreign currencies translation, etc. |
Details of loans | (5) Details of loans are as follows (Unit: Korean Won in millions): December 31, December 31, Loans in local currency 249,264,947 273,283,542 Loans in foreign currencies (*) 20,025,092 24,508,250 Domestic banker’s usance 2,240,830 3,403,021 Credit card accounts 8,542,619 9,757,115 Bills bought in foreign currencies 5,763,427 5,310,080 Bills bought in local currency 133,650 265,275 Factoring receivables 38,017 17,406 Advances for customers on guarantees 31,300 26,766 Private placement bonds 353,585 519,150 Securitized loans 2,561,914 2,874,480 Call loans 2,352,034 3,481,219 Bonds purchased under resale agreements 10,145,749 10,332,858 Financial lease receivables 586,216 1,173,751 Installment financial bond 1,925,493 2,882,396 Others 380 159 Loan origination costs and fees 744,109 858,051 Discounted present value (6,656 ) (7,299 ) Allowance for credit losses (1,908,524 ) (1,886,710 ) Total 302,794,182 336,799,510 (*) It includes 50,088 million Won in collateral assets related to the sale of bonds under repurchase agreements at the end of the previous year. |
Changes in allowance for credit losses of loans | (6) Changes in the allowance for credit losses of loans are as follows (Unit: Korean Won in millions): For the year ended December 31, 2019 Consumers Corporates Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance (114,509 ) (48,368 ) (129,906 ) (348,311 ) (349,619 ) (527,673 ) Transfer to 12-month (14,430 ) 13,661 769 (58,537 ) 49,884 8,653 Transfer to lifetime expected credit losses 14,022 (15,332 ) 1,310 8,215 (20,473 ) 12,258 Transfer to credit-impaired financial assets 8,603 10,312 (18,915 ) 3,308 17,852 (21,160 ) Net reversal (provision) of allowance for credit losses 21,802 (38,203 ) (146,204 ) 86,565 6,855 (75,392 ) Recovery — — (61,914 ) — — (66,359 ) Charge-off — — 217,382 — — 222,537 Disposal — — 2,763 — 1 42,095 Interest income from impaired loans — — 9,647 — — 17,887 Business combination — — — (9 ) (2,008 ) (3,150 ) Others (636 ) (32 ) (520 ) (15,489 ) (210 ) 259 Ending balance (85,148 ) (77,962 ) (125,588 ) (324,258 ) (297,718 ) (390,045 ) For the year ended December 31, 2019 Credit card accounts Total Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance (64,787 ) (78,131 ) (116,772 ) (527,607 ) (476,118 ) (774,351 ) Transfer to 12-month (15,712 ) 15,231 481 (88,679 ) 78,776 9,903 Transfer to lifetime expected credit losses 6,031 (6,317 ) 286 28,268 (42,122 ) 13,854 Transfer to credit-impaired financial assets 98,647 94,116 (192,763 ) 110,558 122,280 (232,838 ) Net reversal (provision) of allowance for credit losses (98,888 ) (96,434 ) (40,343 ) 9,479 (127,782 ) (261,939 ) Recovery — — (60,365 ) — — (188,638 ) Charge-off — — 281,420 — — 721,339 Disposal — — — — 1 44,858 Interest income from impaired loans — — — — — 27,534 Business combination — — — (9 ) (2,008 ) (3,150 ) Others (17 ) 2 14 (16,142 ) (240 ) (247 ) Ending balance (74,726 ) (71,533 ) (128,042 ) (484,132 ) (447,213 ) (643,675 ) For the year ended December 31, 2020 Consumers Corporates Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance (85,148 ) (77,962 ) (125,588 ) (324,258 ) (297,718 ) (390,045 ) Transfer to 12-month (20,839 ) 20,050 789 (29,117 ) 25,067 4,050 Transfer to lifetime expected credit losses 9,137 (10,800 ) 1,663 19,259 (48,184 ) 28,925 Transfer to credit-impaired financial assets 3,549 4,913 (8,462 ) 3,607 10,349 (13,956 ) Net reversal (provision) of allowance for credit losses 5,142 (10,042 ) (125,923 ) 2,831 (200,024 ) (271,265 ) Recovery — — (71,277 ) — — (66,179 ) Charge-off — — 181,713 — — 243,634 Disposal — — 5,640 — 13 47,106 Interest income from impaired loans — — 10,790 — — 14,945 Business combination (31,327 ) (15,129 ) (72,040 ) (13,703 ) (18,164 ) (24,364 ) Others (2,041 ) 4,507 (2,998 ) 13,921 6,754 38,405 Ending balance (121,527 ) (84,463 ) (205,693 ) (327,460 ) (521,907 ) (388,744 ) For the year ended December 31, 2020 Credit card accounts Total Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance (74,726 ) (71,533 ) (128,042 ) (484,132 ) (447,213 ) (643,675 ) Transfer to 12-month (14,978 ) 14,755 223 (64,934 ) 59,872 5,062 Transfer to lifetime expected credit losses 9,341 (9,742 ) 401 37,737 (68,726 ) 30,989 Transfer to credit-impaired financial assets 627 1,137 (1,764 ) 7,783 16,399 (24,182 ) Net reversal (provision) of allowance for credit losses 17,022 (25,098 ) (179,872 ) 24,995 (235,164 ) (577,060 ) Recovery — — (66,026 ) — — (203,482 ) Charge-off — — 245,890 — — 671,237 Disposal — — 23,653 — 13 76,399 Interest income from impaired loans — — — — — 25,735 Business combination — — — (45,030 ) (33,293 ) (96,404 ) Others 2 — — 11,882 11,261 35,407 Ending balance (62,712 ) (90,481 ) (105,537 ) (511,699 ) (696,851 ) (699,974 ) For the year ended December 31, 2021 Consumers Corporates Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance (121,527 ) (84,463 ) (205,693 ) (327,460 ) (521,907 ) (388,744 ) Transfer to 12-month (23,328 ) 19,736 3,592 (80,803 ) 49,902 30,901 Transfer to lifetime expected credit losses 9,201 (11,466 ) 2,265 14,106 (35,706 ) 21,600 Transfer to credit-impaired financial assets 2,752 9,918 (12,670 ) 1,562 18,741 (20,303 ) Net reversal (provision) of allowance for credit losses (4,456 ) (32,764 ) (130,424 ) 49,562 (91,981 ) (168,323 ) Recovery — — (75,058 ) — — (55,108 ) Charge-off — — 174,012 — — 233,507 Disposal — — 14,890 — — 64,078 Interest income from impaired loans — — 13,743 — — 12,672 Others 838 1,435 8,726 (19,733 ) 4,211 18,487 Ending balance (136,520 ) (97,604 ) (206,617 ) (362,766 ) (576,740 ) (251,233 ) For the year ended December 31, 2021 Credit card accounts Total Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance (62,712 ) (90,481 ) (105,537 ) (511,699 ) (696,851 ) (699,974 ) Transfer to 12-month (26,846 ) 26,581 265 (130,977 ) 96,219 34,758 Transfer to lifetime expected credit losses 7,497 (8,151 ) 654 30,804 (55,323 ) 24,519 Transfer to credit-impaired financial assets 356 925 (1,281 ) 4,670 29,584 (34,254 ) Net reversal (provision) of allowance for credit losses 12,894 (44,363 ) (145,336 ) 58,000 (169,108 ) (444,083 ) Recovery — — (65,620 ) — — (195,786 ) Charge-off — — 220,352 — — 627,871 Disposal — — 25,576 — — 104,544 Interest income from impaired loans — — — — — 26,415 Others (3 ) — — (18,898 ) 5,646 27,213 Ending balance (68,814 ) (115,489 ) (70,927 ) (568,100 ) (789,833 ) (528,777 ) |
Changes in gross carrying amount of loans | (7) Changes in the gross carrying amount of loans are as follows (Unit: Korean Won in millions): For the year ended December 31, 2019 Consumers Corporates Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance 110,619,242 6,028,009 391,494 131,453,727 5,031,258 1,020,658 Transfer to 12-month 2,626,998 (2,614,767 ) (12,231 ) 1,560,734 (1,550,164 ) (10,570 ) Transfer to lifetime expected credit losses (8,238,499 ) 8,256,600 (18,101 ) (2,306,186 ) 2,341,881 (35,695 ) Transfer to credit-impaired financial assets (152,128 ) (104,129 ) 256,257 (252,249 ) (142,902 ) 395,151 Charge-off — — (217,382 ) — — (222,537 ) Disposal — (55 ) (67,924 ) — (70 ) (161,318 ) Net increase (decrease) 6,397,570 883,149 85,561 3,985,392 (809,566 ) (266,432 ) Business combination 100 — — 2,561 40,161 21,000 Ending balance 111,253,283 12,448,807 417,674 134,443,979 4,910,598 740,257 For the year ended December 31, 2019 Credit card accounts Total Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance 6,861,844 982,772 208,989 248,934,813 12,042,039 1,621,141 Transfer to 12-month 258,674 (258,166 ) (508 ) 4,446,406 (4,423,097 ) (23,309 ) Transfer to lifetime expected credit losses (307,100 ) 307,450 (350 ) (10,851,785 ) 10,905,931 (54,146 ) Transfer to credit-impaired financial assets (124,675 ) (104,712 ) 229,387 (529,052 ) (351,743 ) 880,795 Charge-off — — (281,420 ) — — (721,339 ) Disposal — — — — (125 ) (229,242 ) Net increase (decrease) 589,724 (41,512 ) 72,269 10,972,686 32,071 (108,602 ) Business combination — — — 2,661 40,161 21,000 Ending balance 7,278,467 885,832 228,367 252,975,729 18,245,237 1,386,298 For the year ended December 31, 2020 Consumers Corporates Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance 111,253,283 12,448,807 417,674 134,443,979 4,910,598 740,257 Transfer to 12-month 4,564,471 (4,552,400 ) (12,071 ) 1,160,399 (1,146,756 ) (13,643 ) Transfer to lifetime expected credit losses (5,365,577 ) 5,388,064 (22,487 ) (3,983,614 ) 4,023,106 (39,492 ) Transfer to credit-impaired financial assets (96,197 ) (103,016 ) 199,213 (357,386 ) (120,491 ) 477,877 Charge-off — — (181,713 ) — — (243,634 ) Disposal — — (55,349 ) — (398 ) (163,644 ) Net increase (decrease) 13,326,560 (1,289,910 ) 54,503 14,804,391 (696,164 ) (64,490 ) Business combination 2,307,498 125,166 137,336 3,507,163 358,846 24,678 Ending balance 125,990,038 12,016,711 537,106 149,574,932 7,328,741 717,909 For the year ended December 31, 2020 Credit card accounts Total Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance 7,278,467 885,832 228,367 252,975,729 18,245,237 1,386,298 Transfer to 12-month 257,399 (257,144 ) (255 ) 5,982,269 (5,956,300 ) (25,969 ) Transfer to lifetime expected credit losses (454,230 ) 454,709 (479 ) (9,803,421 ) 9,865,879 (62,458 ) Transfer to credit-impaired financial assets (26,947 ) (10,796 ) 37,743 (480,530 ) (234,303 ) 714,833 Charge-off — — (245,890 ) — — (671,237 ) Disposal — — (43,781 ) — (398 ) (262,774 ) Net increase (decrease) 224,286 5,619 204,369 28,355,237 (1,980,455 ) 194,382 Business combination — — — 5,814,661 484,012 162,014 Ending balance 7,278,975 1,078,220 180,074 282,843,945 20,423,672 1,435,089 For the year ended December 31, 2021 Consumers Corporates Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance 125,990,038 12,016,711 537,106 149,574,932 7,328,741 717,909 Transfer to 12-month 4,377,247 (4,357,347 ) (19,900 ) 1,610,541 (1,575,157 ) (35,384 ) Transfer to lifetime expected credit losses (6,104,417 ) 6,127,477 (23,060 ) (3,627,800 ) 3,670,808 (43,008 ) Transfer to credit-impaired financial assets (108,717 ) (79,746 ) 188,463 (244,236 ) (132,986 ) 377,222 Charge-off — — (174,012 ) — — (233,507 ) Disposal — — (48,795 ) — — (187,571 ) Net increase (decrease) 10,985,534 (206,312 ) 40,167 23,481,818 (833,127 ) (53,929 ) Ending balance 135,139,685 13,500,783 499,969 170,795,255 8,458,279 541,732 For the year ended December 31, 2021 Credit card accounts Total Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Beginning balance 7,278,975 1,078,220 180,074 282,843,945 20,423,672 1,435,089 Transfer to 12-month 359,101 (358,776 ) (325 ) 6,346,889 (6,291,280 ) (55,609 ) Transfer to lifetime expected credit losses (513,635 ) 514,369 (734 ) (10,245,852 ) 10,312,654 (66,802 ) Transfer to credit-impaired financial assets (17,416 ) (9,253 ) 26,669 (370,369 ) (221,985 ) 592,354 Charge-off — — (220,352 ) — — (627,871 ) Disposal — — (56,520 ) — — (292,886 ) Net increase (decrease) 1,132,278 170,579 187,263 35,599,630 (868,860 ) 173,501 Ending balance 8,239,303 1,395,139 116,075 314,174,243 23,354,201 1,157,776 |
Details of other financial assets | (8) Details of other financial assets are as follows (Unit: Korean Won in millions): December 31, December 31, Cash Management Account asset (CMA asset) 210,000 140,000 Receivables 3,809,929 6,852,139 Accrued income 864,107 1,049,857 Telex and telephone subscription rights and refundable deposits 936,878 870,707 Domestic exchange settlement debit 1,518,775 82,555 Other assets 192,342 290,746 Allowance for credit losses (83,295 ) (66,781 ) Total 7,448,736 9,219,223 |
Changes in allowance for credit losses on other financial assets | (9) Changes in the allowances for credit losses on other financial assets are as follows (Unit: Korean Won in millions): For the year ended December 31, 2019 Stage 1 Stage 2 Stage 3 Total Beginning balance (3,469 ) (1,971 ) (62,501 ) (67,941 ) Transfer to 12-month (207 ) 198 9 — Transfer to lifetime expected credit losses 116 (43 ) (73 ) — Transfer to credit-impaired financial assets 19 159 (178 ) — Reversal (provision) of allowance for credit losses 802 (9 ) (6,854 ) (6,061 ) Charge-off — — 2,506 2,506 Disposal — — 1,685 1,685 Business combination (401 ) — (7,268 ) (7,669 ) Others (56 ) — 397 341 Ending balance (3,196 ) (1,666 ) (72,277 ) (77,139 ) For the year ended December 31, 2020 Stage 1 Stage 2 Stage 3 Total Beginning balance (3,196 ) (1,666 ) (72,277 ) (77,139 ) Transfer to 12-month (142 ) 129 13 — Transfer to lifetime expected credit losses 125 (155 ) 30 — Transfer to credit-impaired financial assets 23 64 (87 ) — Provision of allowance for credit losses (667 ) (1,589 ) (3,080 ) (5,336 ) Charge-off — — 2,151 2,151 Disposal — — 1,557 1,557 Business combination (624 ) (2,235 ) (1,968 ) (4,827 ) Others 815 2 (518 ) 299 Ending balance (3,666 ) (5,450 ) (74,179 ) (83,295 ) For the year ended December 31, 2021 Stage 1 Stage 2 Stage 3 Total Beginning balance (3,666 ) (5,450 ) (74,179 ) (83,295 ) Transfer to 12-month (228 ) 217 11 — Transfer to lifetime expected credit losses 147 (174 ) 27 — Transfer to credit-impaired financial assets 167 288 (455 ) — Reversal (provision) of allowance for credit losses 511 (464 ) 4,664 4,711 Charge-off — — 9,965 9,965 Disposal — — 1,400 1,400 Others (606 ) 3 1,041 438 Ending balance (3,675 ) (5,580 ) (57,526 ) (66,781 ) |
Changes in gross carrying amount of other financial assets | (10) Changes in the gross carrying amount of other financial assets are as follows (Unit: Korean Won in millions): For the year ended December 31, 2019 Stage 1 Stage 2 Stage 3 Total Beginning balance 7,454,390 28,193 72,007 7,554,590 Transfer to 12-month 8,036 (8,019 ) (17 ) — Transfer to lifetime expected credit losses (17,678 ) 17,740 (62 ) — Transfer to credit-impaired financial assets (952 ) (918 ) 1,870 — Charge-off — — (2,506 ) (2,506 ) Disposal — — (2,212 ) (2,212 ) Net increase 606,457 55,651 41,138 703,246 Business combination 9,591 — 7,656 17,247 Ending balance 8,059,844 92,647 117,874 8,270,365 For the year ended December 31, 2020 Stage 1 Stage 2 Stage 3 Total Beginning balance 8,059,844 92,647 117,874 8,270,365 Transfer to 12-month 8,760 (8,737 ) (23 ) — Transfer to lifetime expected credit losses (15,305 ) 15,334 (29 ) — Transfer to credit-impaired financial assets (1,900 ) (701 ) 2,601 — Charge-off — — (2,151 ) (2,151 ) Disposal — — (1,847 ) (1,847 ) Net increase (decrease) (856,008 ) (26,539 ) 69,500 (813,047 ) Business combination 72,035 4,414 2,262 78,711 Ending balance 7,267,426 76,418 188,187 7,532,031 For the year ended December 31, 2021 Stage 1 Stage 2 Stage 3 Total Beginning balance 7,267,426 76,418 188,187 7,532,031 Transfer to 12-month 8,909 (8,894 ) (15 ) — Transfer to lifetime expected credit losses (27,369 ) 27,399 (30 ) — Transfer to credit-impaired financial assets (1,877 ) (1,638 ) 3,515 — Charge-off — — (9,965 ) (9,965 ) Disposal — — (1,716 ) (1,716 ) Net increase (decrease) 1,757,450 13,312 (5,108 ) 1,765,654 Ending balance 9,004,539 106,597 174,868 9,286,004 |
Fair value of financial asset_2
Fair value of financial assets and liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of fair value measurement [Abstract] | |
Fair value measurement of financial assets and liabilities measured at fair value | (2) Fair value hierarchy of financial assets and liabilities measured at fair value are as follows (Unit: Korean Won in millions): December 31, 2020 Level 1 (*) Level 2 (*) Level 3 Total Financial assets: Financial assets at FVTPL Deposits 48,796 — — 48,796 Debt securities 516,597 2,365,882 4,618 2,887,097 Equity securities 35,422 — 450,371 485,793 Capital contributions — — 865,685 865,685 Beneficiary certificates 24,895 869,852 1,917,811 2,812,558 Loans — 467,229 209,062 676,291 Derivative assets 18,416 6,875,454 7,872 6,901,742 Others — — 84,979 84,979 Sub-total 644,126 10,578,417 3,540,398 14,762,941 Financial assets at FVTOCI Debt securities 3,092,237 25,855,904 — 28,948,141 Equity securities 510,073 — 570,715 1,080,788 Sub-total 3,602,310 25,855,904 570,715 30,028,929 Derivative assets — 174,820 — 174,820 Total 4,246,436 36,609,141 4,111,113 44,966,690 Financial liabilities: Financial liabilities at FVTPL Deposits due to customers 49,279 — — 49,279 Derivative liabilities 6,024 6,433,727 20,136 6,459,887 Securities sold 285,026 — — 285,026 Sub-total 340,329 6,433,727 20,136 6,794,192 Financial liabilities at FVTPL designated as upon initial recognition Equity-linked securities — — 19,630 19,630 Derivative liabilities — 64,769 — 64,769 Total 340,329 6,498,496 39,766 6,878,591 (*) 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. December 31, 2021 Level 1 (*) Level 2 (*) Level 3 Total Financial assets: Financial assets at FVTPL Deposits 65,072 — — 65,072 Debt securities 817,584 1,923,538 2,117 2,743,239 Equity securities 25,879 — 303,985 329,864 Capital contributions — — 1,287,723 1,287,723 Beneficiary certificates 74,271 2,326,202 1,104,074 3,504,547 Loans — 453,832 213,635 667,467 Derivative assets 10,911 4,762,872 29,348 4,803,131 Others — — 96,191 96,191 Sub-total 993,717 9,466,444 3,037,073 13,497,234 Financial assets at FVTOCI Debt securities 5,578,455 32,548,522 — 38,126,977 Equity securities 411,357 — 581,455 992,812 Sub-total 5,989,812 32,548,522 581,455 39,119,789 Derivative assets — 106,764 — 106,764 Total 6,983,529 42,121,730 3,618,528 52,723,787 Financial liabilities: Financial liabilities at FVTPL Deposits due to customers 65,016 — — 65,016 Derivative liabilities 10,259 4,552,368 4,641 4,567,268 Securities sold 211,408 29,766 — 241,174 Sub-total 286,683 4,582,134 4,641 4,873,458 Derivative liabilities — 27,584 — 27,584 Total 286,683 4,609,718 4,641 4,901,042 (*) 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. |
Valuation methods and input variables for each type of financial instruments measured at fair value and classified into Level 2 | 1) Valuation methods and input variables for each type of financial instrument classified into level 2 in December 31, 2020 and 2021 are as follows: Valuation methods Input variables Debt securities Fair value is measured by discounting the future cash flows of debt securities applying the risk-free market rate with credit spread. Risk-free market rate and credit spread Beneficiary certificates The beneficiary certificates classified as Level 2 are MMF and are measured at the standard price. Standard price Derivatives Fair value is measured by models such as option model (Closed form), DCF model, FDM and Monte Carlo Simulation. Discount rate, values of underlying assets such as foreign exchange rate and stock prices, risk-free market rate, forward rate, etc. Loans The future cash flows of debt instruments are measured at a discount by applying the market interest rate applied to entities with similar creditworthiness to the debtor. Risk-free market rate and credit spread |
Valuation methods and input variables for each type of financial instruments measured at fair value and classified into Level 3 | 2) Valuation methods and input variables for each type of financial instrument classified into level 3 in December 31, 2020 and 2021 are as follows: Valuation methods Input variables Loans, bond with options Fair value is calculated by using the Discounted Cash Flow Model, Binomial Tree, which is a valuation technique commonly used in the market taking into account the price and variability of the underlying asset, and LSMC. Values of underlying assets, volatility, credit spread, discount rate and terminal growth rate Debt securities The Group is measuring fair value with LSMC and the Hull-White model. Stock volatility, interest rate volatility and discount rate 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, Net Asset Value Method, LSMC, and Binomial Tree, more than one method is used given the characteristic of the subject of fair value measurement. Risk-free market rate, market risk premium, corporate Beta, stock prices, volatility of underlying asset, net asset of the investment association and discount rate Derivatives Fair value is measured by models such as option model (Closed form), DCF model, FDM and Monte Carlo Simulation. Risk-free market rate, discount rate, values of underlying assets such as foreign exchange rate and stock prices, volatility, etc. Equity-linked securities Fair value is measured by models such as option model (Closed form), DCF model, FDM and Monte Carlo Simulation. Volatility of underlying assets, discount rate, dividends, volatility, correlation coefficient, foreign exchange rate, etc. Others Fair value is calculated by using the binominal tree. Least-Squares Monte Carlo simulation (LSMC) and Income approach, which are commonly used valuation techniques in the market taking into account the price and variability of the underlying asset after measuring the fair value of underlying asset using Models including Discounted Cash Flow Model. Stock prices, volatility of underlying assets, etc. |
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: December 31, 2020 Fair value Type Input variable Range Impact of changes in significant Loans, bond with options, convertible bonds Binomial Tree Stock prices, Volatility of underlying asset 19.82~22.84% Variation of fair value increases as volatility of underlying asset increases. LSMC Stock prices, Volatility of underlying asset 18.99% Variation of fair value increases as volatility of underlying asset increases. DCF model Discount rate 4.70~16.50% Fair value increases as discount rate decreases. Terminal growth rate 1.00% Fair value increases as terminal growth rate increases. Credit spread 2.30~5.90% Fair value decreases as credit spread increases. Hull-White Stock volatility 17.50~27.30% Fair value increases as volatility increases. Interest rate volatility 0.50% Fair value increases as volatility increases. Discount rate 3.10~53.20% Fair value increases as discount rate decreases. Derivative assets Option valuation model and others Interest rate related Correlation coefficient 0.90~0.98 Variation of fair value increases as correlation coefficient increases. Volatility of underlying asset 25.46~131.47% Variation of fair value increases as volatility of underlying assets increases. Equity related Correlation coefficient 0.29~0.75 Variation of fair value increases as correlation coefficient increases. Volatility of underlying asset — Variation of fair value increases as volatility of underlying assets increases. DCF model Interest rate related Credit risk adjustment ratio 100.00% Variation of fair value decreases as credit risk adjustment ratio increases. Derivative liabilities Option valuation model and others Interest rate related Correlation coefficient 0.90~0.98 Variation of fair value increases as correlation coefficient increases. Volatility of underlying asset 25.46~131.47% Variation of fair value increases as volatility of underlying assets increases. Equity related Correlation coefficient 0.29~0.75 Variation of fair value increases as correlation coefficient increases. Volatility of underlying asset — Variation of fair value increases as volatility of underlying assets increases. December 31, 2020 Fair value Type Input variable Range Impact of changes in significant Equity-linked securities Monte Carlo Simulation and others Equity related Correlation coefficient Volatility of underlying asset 0.48~0.60 27.59~49.29% Fair value of equity-linked securities increases if both historical volatility and correlation coefficient increase. However, when correlation coefficient decreases despite the increase in historical volatility, the fair value variation of equity-linked securities may decrease. Equity securities, capital contributions, and beneficiary certificates LSMC Stock prices, Volatility of underlying asset 18.99~26.45% Variation of fair value increases as volatility of underlying asset increases. DCF model and others Terminal growth rate 1.00% Fair value increases as terminal growth rate increases. Discount rate 5.83~34.63% Fair value increases as discount rate decreases. Fluctuation rate of real estate sales price — Fair value increases as sales price increases Liquidation value — Variation of liquidation value increases as volatility of underlying assets increases Net asset value method Discount rate 14.30% Fair value increases as discount rate decreases. Binomial Tree Volatility 39.60% Fair value increases as volatility increases. Discount rate 8.50% Fair value increases as discount rate decreases. Others Income approach Discount rate 12.69% Fair value increases as discount rate decreases. Growth rate 1.00% Fair value increases as growth rate increases. LSMC Stock prices, Volatility of underlying asset 17.61~26.45% Variation of fair value increases as volatility of underlying asset increases. December 31, 2021 Fair value Type Input variable Range Impact of changes in significant Loans Binomial Tree Stock prices, Volatility of underlying asset 22.62% Variation of fair value increases as volatility of underlying asset increases. LSMC Stock prices, Volatility of underlying asset 19.48% Variation of fair value increases as volatility of underlying asset increases. Derivative assets Option valuation model and others Interest rate related Correlation coefficient 0.90~0.98 Variation of fair value increases as correlation coefficient increases. Volatility of underlying asset 24.84~97.50% Variation of fair value increases as volatility of underlying assets increases. Equity related Correlation coefficient 0.18~0.76 Variation of fair value increases as correlation coefficient increases. Volatility of underlying asset — Variation of fair value increases as volatility of underlying assets increases. DCF model Interest rate related Credit risk adjustment ratio 100.00% Variation of fair value decreases as credit risk adjustment ratio increases. Derivative liabilities Option valuation model and others Interest rate related Correlation coefficient 0.90~0.98 Variation of fair value increases as correlation coefficient increases. Volatility of underlying asset 24.84~97.50% Variation of fair value increases as volatility of underlying assets increases. Equity related Correlation coefficient 0.18~0.76 Variation of fair value increases as correlation coefficient increases. Volatility of underlying asset — Variation of fair value increases as volatility of underlying assets increases. Equity securities, capital contributions, and beneficiary certificates LSMC Stock prices, Volatility of underlying asset 0.00% Variation of fair value increases as volatility of underlying asset increases. DCF model and others Discount rate 0.00~35.92% Fair value increases as discount rate decreases. Terminal growth rate 1.00% Fair value increases as terminal growth rate increases. Liquidation value 0.00% Variation of liquidation value increases as volatility of underlying assets increases Others Income approach Growth rate 1.00% Fair value increases as growth rate increases. LSMC Stock prices, Volatility of underlying asset 19.48~28.41% Variation of fair value increases as volatility of underlying asset 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, 2019 Beginning Business Combination Net (*1) Other Purchases/ issuances Disposals/ settlements Transfer to or (*2) Ending Financial assets: Financial assets at FVTPL Debt securities 8,389 — 476 — 2,000 (5,039 ) — 5,826 Equity securities 401,860 — 59,537 — 95,511 (28,287 ) — 528,621 Capital contributions 422,614 707 (13,270 ) — 173,064 (67,916 ) — 515,199 Beneficiary certificates 854,299 — 18,450 — 578,228 (183,684 ) 8,441 1,275,734 Loans 180,450 — 6,854 — 60,696 (95,371 ) — 152,629 Derivative assets 48,798 — 16,935 — 1,115 (40,343 ) (1,457 ) 25,048 Sub-total 1,916,410 707 88,982 — 910,614 (420,640 ) 6,984 2,503,057 Financial assets at FVTOCI Equity securities 468,847 1,408 — 23,063 687 (306 ) (1 ) 493,698 Total 2,385,257 2,115 88,982 23,063 911,301 (420,946 ) 6,983 2,996,755 Financial liabilities: Financial liabilities at FVTPL Derivative liabilities 16,691 — 84,033 — (11,140 ) (14,817 ) (2,728 ) 72,039 Financial liabilities at FVTPL designated as upon initial recognition Equity-linked securities 164,767 — 33,237 — 1,809 (112,187 ) — 87,626 Derivatives liabilities (designated for hedging) — — — — 321 — — 321 Total 181,458 — 117,270 — (9,010 ) (127,004 ) (2,728 ) 159,986 (*1) For financial liabilities, positive numbers represent losses that increase balance and negative numbers represent gains that decrease balance. The statements of comprehensive income includes gain of 21,809 million Won included in net gain (loss) on financial assets at FVTPL and net gain (loss) on financial assets at FVTOCI pertaining to the assets and liabilities held by the Group at the end of the period. (*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, 2020 Beginning Business Net (*1) Other Purchases/ issuances Disposals / settlements Transfer to or (*2) Ending Financial assets: Financial assets at FVTPL Debt securities 5,826 — (632 ) — 2,627 (3,203 ) — 4,618 Equity securities 464,741 3,894 (8,977 ) — 5,088 (14,407 ) 32 450,371 Capital contributions 515,199 173,244 39,500 — 194,396 (56,654 ) — 865,685 Beneficiary certificates 1,275,734 166,467 (7,919 ) — 715,437 (231,908 ) — 1,917,811 Loans 152,629 35,854 6,149 — 656,880 (642,450 ) — 209,062 Derivative assets 25,048 — 9,458 — 9,501 (23,911 ) (12,224 ) 7,872 Others 63,880 — 3,472 — 17,997 (370 ) — 84,979 Sub-total 2,503,057 379,459 41,051 — 1,601,926 (972,903 ) (12,192 ) 3,540,398 Financial assets at FVTOCI Equity securities 493,698 — — (4,920 ) 82,227 (2,482 ) 2,192 570,715 Total 2,996,755 379,459 41,051 (4,920 ) 1,684,153 (975,385 ) (10,000 ) 4,111,113 Financial liabilities: Financial liabilities at FVTPL Derivative liabilities 72,039 — 30,150 — 2,650 (66,170 ) (18,533 ) 20,136 Financial liabilities at FVTPL designated as upon initial recognition Equity-linked securities 87,626 — 665 — — (68,661 ) — 19,630 Derivative liabilities (Designated for hedging) 321 — — — — (321 ) — — Total 159,986 — 30,815 — 2,650 (135,152 ) (18,533 ) 39,766 (*1) For financial liabilities, positive numbers represent losses that increase balance and negative numbers represent gains that decrease balance. The gain amounting to 37,430 million Won for the year ended December 31, 2020, which is from financial assets and liabilities that the Group holds as at the end of the year. (*2) There were transfers between levels as the availability of observable market data for these financial instruments changed. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. For the year ended December 31, 2021 Beginning Net (*1) Other Purchases/ issuances Disposals / settlements Transfer to or (*2) Ending Financial assets: Financial assets at FVTPL Debt securities 4,618 (431 ) — 1,000 (4,070 ) 1,000 2,117 Equity securities 450,371 (24,501 ) — 33,570 (154,455 ) (1,000 ) 303,985 Capital contributions 865,685 82,596 — 575,643 (236,201 ) — 1,287,723 Beneficiary certificates 1,917,811 10,347 — 86,224 (910,308 ) — 1,104,074 Loans 209,062 16,975 — 761,045 (773,447 ) — 213,635 Derivative assets 7,872 22,256 — 5,058 — (5,838 ) 29,348 Others 84,979 12,245 — 14,982 (16,548 ) 533 96,191 Sub-total 3,540,398 119,487 — 1,477,522 (2,095,029 ) (5,305 ) 3,037,073 Financial assets at FVTOCI Equity securities 570,715 — 11,362 645 (1,267 ) — 581,455 Total 4,111,113 119,487 11,362 1,478,167 (2,096,296 ) (5,305 ) 3,618,528 Financial liabilities: Financial liabilities at FVTPL Derivative liabilities 20,136 4,926 — (3,979 ) (10,188 ) (6,254 ) 4,641 Financial liabilities at FVTPL designated as upon initial recognition Equity-linked securities 19,630 (102 ) — — (19,528 ) — — Total 39,766 4,824 — (3,979 ) (29,716 ) (6,254 ) 4,641 (*1) For financial liabilities, positive numbers represent losses that increase balance and negative numbers represent gains that decrease balance. The gain amounting to 2,634 million Won for the year ended December 31, 2021, which is from financial assets and liabilities that the Group holds as at the end of the year. (*2) There were transfers between levels as the availability of observable market data for these financial instruments changed. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. |
Sensitivity analysis on the unobservable inputs used for measuring Level 3 financial instruments | The sensitivity on fluctuation of input variables by financial instruments as of December 31, 2019, 2020 and 2021 is as follows (Unit: Korean Won in millions): December 31, 2019 Net income Other comprehensive income (loss) Favorable Unfavorable Favorable Unfavorable Financial assets: Financial assets at FVTPL Derivative assets (*1) 640 (935 ) — — Loans (*2) 152 (128 ) — — Debt securities 652 (640 ) — — Equity securities (*3)(*4) 16,104 (10,929 ) — — Beneficiary certificates (*4) 1,125 (1,125 ) — — Financial assets at FVTOCI Equity securities (*3)(*4) — — 26,380 (11,981 ) Total 18,673 (13,757 ) 26,380 (11,981 ) Financial liabilities: Financial liabilities at FVTPL Derivative liabilities (*1) 1,054 (816 ) — — Financial liabilities at FVTPL designated as upon initial recognition Equity-linked securities (*1) 136 (142 ) — — Total 1,190 (958 ) — — (*1) Fair value changes of equity related derivatives 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 stock prices (-10%~10%) (-10~10%). (*3) Fair value changes of equity securities are calculated by increasing or decreasing terminal growth rate (0~1%) and discount rate or liquidation (-1~1%). (*4) 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 rate of real estate which is underlying assets and discount rate by 1%. December 31, 2020 Net income (loss) Other comprehensive income (loss) Favorable Unfavorable Favorable Unfavorable Financial assets: Financial assets at FVTPL Derivative assets (*1) 110 (257 ) — — Loans (*2) 933 (932 ) — — Debt securities 13 (10 ) — — Equity securities (*2)(*3)(*4) 8,539 (7,337 ) — — Beneficiary certificates (*4) 1,403 (1,537 ) — — Others (*2) 640 (547 ) — — Financial assets at FVTOCI Equity securities (*3)(*4) — — 21,587 (16,740 ) Total 11,638 (10,620 ) 21,587 (16,740 ) Financial liabilities: Financial liabilities at FVTPL Derivative liabilities (*1) 776 (405 ) — — Financial liabilities at FVTPL designated as upon initial recognition Equity-linked securities (*1) 57 (45 ) — — Total 833 (450 ) — — (*1) Fair value changes of equity related derivatives 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 stock prices (-10%~10%) (-10~10%). (*3) Fair value changes of equity securities are calculated by increasing or decreasing terminal growth rate (0~1%) (-1~1%) (-1~1%). (*4) 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 rate of real estate which is underlying assets and discount rate by 1%. December 31, 2021 Net income (loss) Other comprehensive income (loss) Favorable Unfavorable Favorable Unfavorable Financial assets: Financial assets at FVTPL Derivative assets (*1) 1,668 (1,191 ) — — Loans (*2) 682 (671 ) — — Debt securities 13 (12 ) — — Equity securities (*2)(*3)(*4) 6,348 (5,331 ) — — Beneficiary certificates (*4) 1,305 (1,171 ) — — Others (*2) 921 (876 ) — — Financial assets at FVTOCI Equity securities (*3)(*4) — — 30,391 (23,865 ) Total 10,937 (9,252 ) 30,391 (23,865 ) Financial liabilities: Financial liabilities at FVTPL Derivative liabilities (*1) 205 (264 ) — — Total 205 (264 ) — — (*1) Fair value changes of equity related derivatives 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 stock prices (-10%~10%) (-10~10%). (*3) Fair value changes of equity securities are calculated by increasing or decreasing terminal growth rate (-0.5%~0.5%) (-1~1%) (-1~1%). (*4) 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 rate of real estate which is underlying assets and discount rate by 1%. |
Schedule of fair value measurement of financial instruments measured at amortized costs | (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, 2020 Fair value Book value Level 1 Level 2 Level 3 Total Financial assets: Securities at amortized cost 2,968,875 14,299,748 — 17,268,623 17,020,839 Loans and other financial assets at amortized cost — — 318,144,845 318,144,845 320,106,078 Financial liabilities: Deposits due to customers — 291,767,282 — 291,767,282 291,477,279 Borrowings — 20,586,930 176,745 20,763,675 20,745,466 Debentures — 37,931,989 — 37,931,989 37,479,358 Other financial liabilities — 13,305,067 286,489 13,591,556 13,808,386 December 31, 2021 Fair value Book value Level 1 Level 2 Level 3 Total Financial assets: Securities at amortized cost 2,122,401 14,921,119 — 17,043,520 17,086,274 Loans and other financial assets at amortized cost — 3 359,918,500 359,918,503 361,932,872 Financial liabilities: Deposits due to customers — 318,070,829 — 318,070,829 317,899,871 Borrowings — 23,393,520 1,270,305 24,663,825 24,755,459 Debentures — 44,500,963 — 44,500,963 44,653,864 Other financial liabilities — 23,216,929 379,534 23,596,463 23,890,017 |
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 by using valuation methods. Valuation methods and input variables for financial assets and liabilities that are measured at amortized cost are given as follows: Valuation methods Input variables Securities at amortized cost The fair value is measured by discounting the projected cash flows of debt securities by applying risk-free market rate with credit spread. Risk-free market rate and credit spread Loans and other financial assets at amortized cost 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, credit spread and forward rate |
Carrying amounts of financial instruments 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, 2020 Financial assets Financial asset Financial assets Financial assets Derivatives Total Deposits 48,796 — 9,863,160 — 9,911,956 Securities 7,136,112 30,028,929 17,020,839 — 54,185,880 Loans 676,291 — 302,794,182 — 303,470,473 Derivative assets 6,901,742 — — 174,820 7,076,562 Other financial assets — — 7,448,736 — 7,448,736 Total 14,762,941 30,028,929 337,126,917 174,820 382,093,607 December 31, 2020 Financial liabilities Financial liabilities Financial liabilities Financial liabilities Derivatives Total Deposits due to customers 49,279 — 291,477,279 — 291,526,558 Borrowings 285,026 19,630 20,745,466 — 21,050,122 Debentures — — 37,479,358 — 37,479,358 Derivative liabilities 6,459,887 — — 64,769 6,524,656 Other financial liabilities — — 13,808,386 — 13,808,386 Total 6,794,192 19,630 363,510,489 64,769 370,389,080 December 31, 2021 Financial assets Financial asset Financial assets at Financial assets Derivatives Total Deposits 65,072 — 15,914,139 — 15,979,211 Securities 7,960,046 39,119,789 17,086,274 — 64,166,109 Loans 667,467 — 336,799,510 — 337,466,977 Derivative assets 4,803,131 — — 106,764 4,909,895 Other financial assets 1,518 — 9,219,223 — 9,220,741 Total 13,497,234 39,119,789 379,019,146 106,764 431,742,933 December 31, 2021 Financial liabilities Financial liabilities Financial liabilities Derivatives Total Deposits due to customers 65,016 317,899,871 — 317,964,887 Borrowings 241,174 24,755,459 — 24,996,633 Debentures — 44,653,864 — 44,653,864 Derivative liabilities 4,567,268 — 27,584 4,594,852 Other financial liabilities — 23,890,017 — 23,890,017 Total 4,873,458 411,199,211 27,584 416,100,253 |
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, 2019, 2020 and 2021 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2019 Interest Fees and Net reversal Gain or Others Total Financial assets at FVTPL 50,277 89,817 — 25,455 86,979 252,528 Financial assets at FVTOCI 474,751 — (3,297 ) 11,015 20,980 503,449 Securities at amortized cost 436,340 — 1,415 — — 437,755 Loans and other financial assets at amortized cost 9,615,060 296,435 (385,758 ) 102,115 — 9,627,852 Financial liabilities at amortized cost (4,682,722 ) — — — — (4,682,722 ) Net derivatives (designated for hedging) — — — 36,982 — 36,982 Total 5,893,706 386,252 (387,640 ) 175,567 107,959 6,175,844 For the year ended December 31, 2020 Interest Fees and Net reversal Gain or Dividends, Total Financial assets at FVTPL 48,612 — — 421,709 120,158 590,479 Financial assets at FVTOCI 437,527 311 (1,529 ) 24,138 18,385 478,832 Securities at amortized cost 382,988 — 934 — — 383,922 Loans and other financial assets at amortized cost 8,654,726 376,872 (792,250 ) 44,443 — 8,283,791 Financial liabilities at amortized cost (3,516,023 ) — — — — (3,516,023 ) Net derivatives (designated for hedging) — — — (74,213 ) — (74,213 ) Total 6,007,830 377,183 (792,845 ) 416,077 138,543 6,146,788 For the year ended December 31, 2021 Interest Fees and Net provision Gain or Dividends, Total Financial assets at FVTPL 45,803 (156 ) — 325,751 284,683 656,081 Financial assets at FVTOCI 381,814 1,343 (4,909 ) 32,624 24,528 435,400 Securities at amortized cost 324,920 — (664 ) — — 324,256 Loans and other financial assets at amortized cost 9,142,212 494,296 (551,957 ) 107,317 — 9,191,868 Financial liabilities at amortized cost (2,901,592 ) 2,205 — — — (2,899,387 ) Net derivatives (designated for hedging) — — — 72,493 — 72,493 Total 6,993,157 497,688 (557,530 ) 538,185 309,211 7,780,711 |
Derecognition And Offset Of F_2
Derecognition And Offset Of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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 | 1) 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, 2020 December 31, 2021 Assets transferred Financial assets at FVTPL 410,331 248,009 Financial assets at FVTOCI 138,315 127,065 Securities at amortized cost 40,987 38,995 Loans and other financial assets at amortized cost 50,088 — Total 639,721 414,069 Related liabilities Bonds sold under repurchase agreements 657,823 749,976 |
Transferred Financial Assets Of Loaned Securities That Are Not Derecognized In Their Entirety | 2) 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 consolidated 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, December 31, Loaned to Financial assets at FVTOCI Korean treasury and government bonds 100,345 98,535 Korea Securities Finance Corporation |
Liquidity Of Transferred Financial Assets That Are Not Derecognized In Their Entirety | 3) Liquidity of financial assets As of December 31, 2020 and 2021, the consolidated structured companies issued asset-backed securities with loans and corporate bonds held by the Group as liquid assets, and the Group bear related risks through the purchase agreements or credit contributions. The transaction details of the transfer of the financial instrument are as follows: December 31, 2020 December 31, 2021 Book value (*) Book value (*) Assets transferred Financial assets at FVPL 156,900 151,930 Loans at amortized cost 4,645,170 4,682,882 Related liabilities Asset-backed borrowings 2,536,219 2,424,080 Asset-backed bonds 1,289,992 978,274 (*) The carrying amount is the amount before the allowance for bad debts. |
Financial Instruments To Be Offset And May Be Covered By Master Netting Agreements And Similar Agreements | As of December 31, 2020 and 2021, the financial instruments to be offset and may be covered by master netting agreements and similar agreements are as follows (Unit: Korean Won in millions): December 31, 2020 Gross Gross Net amounts of financial Related amounts not setoff Net amounts Netting Cash Financial assets: Derivative assets (*1) 6,456,799 — 6,456,799 7,733,997 598,545 1,278,176 Receivable spot exchange (*2) 3,153,919 — 3,153,919 Bonds purchased under resale agreements (*2) 10,145,749 — 10,145,749 10,145,749 — — Domestic exchange settlement (*2)(*6) 34,352,965 32,834,189 1,518,776 — — 1,518,776 Total 54,109,432 32,834,189 21,275,243 17,879,746 598,545 2,796,952 Financial liabilities: Derivative liabilities (*1) 5,823,620 — 5,823,620 7,147,683 477,603 1,371,364 Equity-linked securities in short position (*3) 19,630 — 19,630 Payable spot exchange (*4) 3,153,400 — 3,153,400 Bonds sold under repurchase agreements (*5) 657,823 — 657,823 213,623 444,200 — Domestic exchange settlement (*4)(*6) 33,014,440 32,834,189 180,251 176,179 — 4,072 Total 42,668,913 32,834,189 9,834,724 7,537,485 921,803 1,375,436 (*1) The items include derivative assets and liabilities held for trading and 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. December 31, 2021 Gross Gross Net amounts of Related amounts not setoff Net amounts Netting Cash Financial assets: Derivative assets (*1) 4,172,737 — 4,172,737 8,260,784 552,071 1,275,186 Receivable spot exchange (*2) 5,915,304 — 5,915,304 Bonds purchased under resale agreements (*2) 10,332,858 — 10,332,858 10,332,858 — — Domestic exchange settlement debits (*2)(*5) 42,358,138 42,275,583 82,555 — — 82,555 Total 62,779,037 42,275,583 20,503,454 18,593,642 552,071 1,357,741 Financial liabilities: Derivative liabilities (*1) 3,708,263 — 3,708,263 8,755,492 114,716 754,855 Payable spot exchange (*3) 5,916,800 — 5,916,800 Bonds sold under repurchase agreements (*4) 749,976 — 749,976 749,976 — — Domestic exchange settlement credits (*3)(*5) 48,982,056 42,275,583 6,706,473 3,401,251 — 3,305,222 Total 59,357,095 42,275,583 17,081,512 12,906,719 114,716 4,060,077 (*1) The items include derivative assets and liabilities held for trading and designated for hedging. (*2) The items are included in loan at amortized cost and other financial assets. (*3) The items are included in other financial liabilities. (*4) The items are included in borrowings. (*5) 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, 2021 | |
Equity Method Investments And Joint Ventures [Abstract] | |
Investments in associates accounted for using equity method | (1) Investments in associates accounted for using the equity method of accounting are as follows: Percentage of ownership (%) Joint ventures and associates (*9) Main business December 31, December 31, Location Financial Woori Bank W Service Networks Co., Ltd. (*1) Freight & staffing services 4.9 4.9 Korea 2021.11.30 (*5) Korea Credit Bureau Co., Ltd. (*2) Credit information 9.9 9.9 Korea 2021.12.31 Korea Finance Security Co., Ltd. (*1) Security service 15.0 15.0 Korea 2021.11.30 (*5) Wongwang Co., Ltd. (*3) Wholesale and real estate 29.0 29.0 Korea — Sejin Construction Co., Ltd. (*3) Construction 29.6 29.6 Korea — ARES-TECH Co., Ltd. (*3) Electronic component manufacturing 23.4 23.4 Korea — Sinseong Trading Co., Ltd. (*4) Manufacturing 27.9 — Korea — Reading Doctors Co., Ltd. (*3) Other services 35.4 35.4 Korea — Cultizm Korea LTD Co., Ltd. (*3) Wholesale and retail sales 31.3 31.3 Korea — NK Eng Co., Ltd. (*3) Manufacturing 23.1 23.1 Korea — Beomgyo.,Ltd. (*3) Telecommunication equipment retail sales 23.1 23.1 Korea — Woori Growth Partnerships New Technology Private Equity Fund Other financial services 23.1 23.1 Korea 2021.12.31 2016KIF-IMM Other financial services 20.0 20.0 Korea 2021.12.31 K BANK Co., Ltd. (*2)(*8) Finance 26.2 12.6 Korea 2021.11.30 (*5) Smart Private Equity Fund No.2 (*10) Other financial services 20.0 — Korea — Woori Bank-Company K Korea Movie Asset Fund Other financial services 25.0 25.0 Korea 2021.12.16 (*5) Well to Sea No. 3 Private Equity Fund (*11) Finance 50.0 — Korea — Partner One Value Up I Private Equity Fund Other financial services 23.3 23.3 Korea 2021.12.31 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership Other financial services 20.0 20.0 Korea 2021.12.31 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund Other financial services 25.0 25.0 Korea 2021.12.31 LOTTE CARD Co., Ltd. Credit card and installment financing 20.0 20.0 Korea 2021.9.30 (*5) Together-Korea Government Private Pool Private Securities Investment Trust No. 3 Other financial services 100.0 100.0 Korea 2021.12.31 Genesis Environmental Energy Company 1st Private Equity Fund Trust and collective investment 24.8 24.8 Korea 2021.12.31 Union Technology Finance Investment Association Trust and collective investment 29.7 29.7 Korea 2021.12.31 Dicustody Co., Ltd. (*2) Other information technology and computer operation related services — 1.0 Korea 2021.12.31 Woori Bank ( *6) Japanese Hotel Real Estate Private Equity Fund No.2 Other financial services 19.9 19.9 Korea 2021.12.31 Woori G Clean Energy No.1 Investment trust and discretionary investment business 29.3 — Korea — Woori Goseong Power EBL Private Special Asset Fund Trust and collective investment 16.7 — Korea — Woori Seoul Beltway Private Special Asset Fund No.1 Trust and collective investment 25.0 25.0 Korea 2021.12.31 Percentage of ownership (%) Joint ventures and associates (*9) Main business December 31, December 31, Location Financial Woori Multi-Return Securities Investment Trust 3 (Balanced Bond) Collective investment business — 20.0 Korea 2021.12.31 Woori Short-term Bond Securities Investment Trust (Bond) ClassC-F Collective investment business — 14.5 Korea 2021.12.31 Woori Financial Capital Co., Ltd. Woori TAERIM 1st Fund Other financial services 25.6 25.6 Korea 2021.12.31 Portone-Cape Fund No.1 Other financial services 20.0 20.0 Korea 2021.12.31 KIWOOM WOORI Financial 1st (*7) Other financial services 9.1 9.1 Korea 2021.12.31 DeepDive WOORI 2021-1 (*7) Other financial services — 11.9 Korea 2021.12.31 Darwin Green Packaging Private Equity Fund Other financial services — 20.4 Korea 2021.12.31 Woori Investment Bank Co., Ltd. (*6) Woori FirstValue Private Real Estate Fund No.2 Real estate business 12.0 12.0 Korea 2021.12.31 WooriG Real Infrastructure Blind General Type Private Placement Investment Trust Investment trust and discretionary investment business — 0.3 Korea 2021.12.31 Woori Asset Management Co. Ltd. Woori High plus G.B. Securities Feeder Fund1(G.B.) Collective investment business 21.8 — Korea — Woori Star50 Master Fund ClassC-F Collective investment business 24.5 — Korea — Woori Private Equity Asset Management Co., Ltd. Woori Hanhwa Eureka Private Equity Fund (*2) Other financial services 0.8 0.8 Korea 2021.12.31 Aarden Woori Apparel 1st Private Equity Fund (*2) Other financial services — 0.5 Korea 2021.12.31 Japanese Hotel Real Estate Private Equity Fund 1 Godo Kaisha Oceanos 1 Other financial services 47.8 47.8 Japan 2021.10.31 (*5) Woori G Japan Private Placement Real Estate Master Investment Trust No.2 Woori Zip 1 Other financial services — 63.9 Japan 2021.9.30 (*5) Woori Zip 2 Other financial services — 63.8 Japan 2021.9.30 (*5) Woori bank and Woori card Co., Ltd. (*6) Dongwoo C & C Co., Ltd. (*3) Construction 24.5 24.5 Korea — SJCO Co., Ltd. (*3) Aggregate transportation and wholesale 28.7 29.7 Korea — G2 Collection Co., Ltd. (*3) Wholesale and retail sales 29.2 29.2 Korea — The Base Enterprise Co., Ltd. (*3) Manufacturing 48.4 48.4 Korea — Kyesan Engineering Co., Ltd. (*3) Construction 23.3 23.3 Korea — Good Software Lap Co., Ltd. (*3) Service 29.4 29.4 Korea — QTS Shipping Co., Ltd. (*3) Complex transportation brokerage 49.8 49.8 Korea — DAEA SNC Co., Ltd. (*3) Wholesale and retail sales 25.5 25.5 Korea — Force TEC Co., Ltd. Manufacturing 25.8 24.5 Korea 2021.9.30 (*5) PREXCO Co., Ltd. (*3) Manufacturing 28.1 28.1 Korea — JiWon Plating Co., Ltd. (*3) Plating 20.8 20.8 Korea — Youngdong Sea Food Co., Ltd. (*3) Processed sea food manufacturing 24.5 24.5 Korea — KUM HWA Co., Ltd. Telecommunication equipment retail sales — 20.1 Korea 2021.9.30 (*5) Jinmyung Plus Co., Ltd Manufacturing — 21.3 Korea 2021.12.31 Percentage of ownership (%) Joint ventures and associates (*9) Main business December 31, December 31, Location Financial W oori bank and Woori Financial Capital Co., Ltd . (*6) JC Assurance No.2 Private Equity Fund Other financial services 29.3 24.4 Korea 2021.12.31 Dream Company Growth no.1 PEF Other financial services 27.8 27.8 Korea 2021.12.31 HMS-Oriens Other financial services 22.8 22.8 Korea 2021.12.31 Woori G Senior Loan Private Placement Investment Trust No.1 Collective investment business 21.7 21.7 Korea 2021.12.31 Genesis Eco No.1 Private Equity Fund Other financial services — 29.0 Korea 2021.12.31 Paratus Woori Material Component Equipment joint venture company Other financial services — 29.9 Korea 2021.9.30 (*5) Midas No. 8 Private Equity Joint Venture Company Other financial services — 28.5 Korea 2021.12.31 Woori Bank and Woori Investment Bank Co., Ltd. (*6) PCC-Woori Other financial services 38.8 38.8 Korea 2021.12.31 Woori bank and Woori Asset Management Co., Ltd. (*6) Woori High Plus Short-term High Graded ESG Bond Sec Feeder Inv Trust 1 Collective investment business 23.3 27.5 Korea 2021.12.31 Woori Bank and Woori Private Equity Asset Management Co., Ltd. (*6) Woori-Q Other financial services 38.4 38.1 Korea 2021.12.31 Woori Bank, Woori Financial Capital Co., Ltd., Woori Investment Bank Co., Ltd. and Woori Private Equity Asset Management Co., Ltd. (*6) Woori-Shinyoung Growth-Cap Other financial services 35.0 35.0 Korea 2021.12.31 (*1) Most of the significant business transactions of associates are with the Group as of December 31, 2020 and 2021. (*2) The Group can participate in decision-making body and exercise significant influence over financial policies and operational policies decision making of the associates. (*3) There is no investment balance as of December 31, 2020 and 2021. (*4) Registration was closed and excluded from associates for the year ended December 31, 2021. (*5) The equity method was applied using the most recent financial statements available from the settlement date because no financial statements were available at the end of December and the significant transactions or events that occurred between the end of the reporting period of the associate and the end of the reporting period of the subsidiary were duly reflected. (*6) Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. (*7) The Group can participate as a co-operator (*8) Due to the failure of associates to participate in the capital increase with consideration, the percentage of ownership decreased, for the year ended December 31, 2021. (*9) WooriG Oncorp Corporate support of Major Industry General Type Private Placement Investment Trust (Type 2) and other 16 joint ventures and associates can exercise significant influence but was classified as an item measured at fair value through profit or loss. (*10) Due to loss of significant influence during the year, it has been classified as a financial asset measured at fair value through profit or loss (*11) It was fully repaid and excluded from associates for the year ended December 31, 2021. |
Changes in the carrying value of investments in associates and joint ventures accounted for using equity method | (2) Changes in the carrying value of investments in associates accounted for using the equity method of accounting are as follows (Unit: Korean Won in millions): For the year ended December 31, 2019 Acquisition January 1, Share of Acquisition Disposal/ Dividends Change in December 31, W Service Networks Co., Ltd. 108 157 31 — — (2 ) — 186 Korea Credit Bureau Co., Ltd. 3,313 6,790 190 — — (135 ) — 6,845 Korea Finance Security Co., Ltd. 3,267 3,456 (169 ) — — — — 3,287 Chin Hung International Inc. 130,779 44,741 6,426 — — — 9 51,176 Saman Corporation 8,521 1,014 (198 ) — — — 33 849 Woori Growth Partnerships New Technology Private Equity Fund 18,666 25,091 1,466 309 (7,490 ) (164 ) — 19,212 2016KIF-IMM 12,385 15,300 1,193 — (2,615 ) — 1,263 15,141 K BANK Co., Ltd. 73,150 43,709 (18,233 ) 5,807 — — (29 ) 31,254 Smart Private Equity Fund No.2 2,915 2,890 (41 ) — (85 ) — — 2,764 Woori Bank-Company K Korea Movie Asset Fund 3,000 2,700 623 — — — — 3,323 Well to Sea No.3 Private Equity Fund 101,483 197,393 30,343 — — (18,836 ) 123 209,023 Partner One Value Up I Private Equity Fund 10,000 9,948 (40 ) — — — — 9,908 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 4,576 4,426 — 150 — — — 4,576 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 4,375 3,025 — 1,350 — — — 4,375 Woori-Shinyoung Growth-Cap 12,665 — (824 ) 12,665 — — — 11,841 LOTTE CARD Co.,Ltd 346,000 — 63,444 346,000 — — — 409,444 Woori-Q 6,129 — (83 ) 6,129 — — — 6,046 PCC-Woori 2,525 — — 2,525 — — — 2,525 Nomura-Rifa Private Real Estate Investment Trust No.17 1,000 787 (136 ) — (651 ) — — — Woori Hanhwa Eureka Private Equity Fund 350 339 3 — — — — 342 Godo Kaisha Oceanos 1 10,870 — 2 10,870 (15 ) (105 ) 200 10,952 Japanese Hotel Real Estate Private Equity Fund 2 3,291 — — 3,291 — — — 3,291 759,368 361,766 83,997 389,096 (10,856 ) (19,242 ) 1,599 806,360 For the year ended December 31, 2020 Acquisition January 1, Share of Acquisition Disposal/ Dividends Business Change in December 31, W Service Networks Co., Ltd. 108 186 7 — — (3 ) — 1 191 Korea Credit Bureau Co., Ltd. 3,313 6,845 1,370 — — (90 ) — — 8,125 Korea Finance Security Co., Ltd. 3,267 3,287 (221 ) — — — — — 3,066 Chin Hung International Inc. — 51,176 (742 ) — (50,411 ) — — (23 ) — Saman Corporation — 849 (432 ) — (466 ) — — 49 — Woori Growth Partnerships New Technology Private Equity Fund 16,938 19,212 (2,240 ) — (1,728 ) (212 ) — — 15,032 2016KIF-IMM 11,893 15,141 1,240 — (492 ) (1,088 ) — (1,563 ) 13,238 K BANK Co., Ltd. 236,232 31,254 (18,334 ) 163,082 — — — (1,905 ) 174,097 Smart Private Equity Fund No.2 2,915 2,764 (1,283 ) — — — — — 1,481 Woori Bank-Company K Korea Movie Asset Fund 2,100 3,323 365 — (900 ) — — — 2,788 Well to Sea No.3 Private Equity Fund — 209,023 87,180 — (117,170 ) (178,355 ) — (678 ) — Partner One Value Up I Private Equity Fund 10,000 9,908 (75 ) — — — — (17 ) 9,816 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 9,756 4,576 — 5,720 (540 ) — — — 9,756 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 4,130 4,375 — 75 (321 ) — — — 4,129 Woori-Shinyoung Growth-Cap 32,480 11,841 7,366 31,363 (12,124 ) (104 ) — — 38,342 LOTTE CARD Co.,Ltd 346,810 409,444 19,692 810 — (5,710 ) — (1,404 ) 422,832 Woori-Q 23,146 6,046 (159 ) 17,017 — — — — 22,904 PCC-Woori 7,575 2,525 554 5,049 — — — — 8,128 Force TEC Co., Ltd. — — 1,542 — — — — (1,149 ) 393 Together-Korea Government Private Pool Private Securities Investment Trust No.3 10,000 — 23 100,000 (90,000 ) — — — 10,023 Genesis Environmental Energy Company 1st Private Equity Fund 3,738 — 241 4,084 (346 ) — — — 3,979 Union Technology Finance Investment Association 4,500 — (15 ) 4,500 — — — — 4,485 Woori Hanhwa Eureka Private Equity Fund 350 342 61 — — — — — 403 Godo Kaisha Oceanos 1 10,800 10,952 7 — — (850 ) — 84 10,193 Japanese Hotel Real Estate Private Equity Fund No.2 3,291 3,291 283 — — (154 ) — (186 ) 3,234 Woori High plus G.B. Securities Feeder Fund1(G.B.) 6,000 — 49 6,141 — — — (114 ) 6,076 WooriG Senior Loan General Type Private Investment Trust No.1 51,959 — 343 51,959 — (257 ) — — 52,045 Woori G Clean Energy No.1 1,015 — 9 1,015 — — — — 1,024 Woori Goseong Power EBL Private Special Asset Fund 14,915 — 611 14,915 — (408 ) — — 15,118 Woori Seoul Beltway Private Special Asset Fund No.1 5,590 — 97 5,591 — (75 ) — — 5,613 WOORI TAERIM 1st Fund 1,100 — (6 ) — — — 289 — 283 For the year ended December 31, 2020 Acquisition January 1, Share of Acquisition Disposal/ Dividends Business Change in December 31, Portone-Cape Fund No.1 1,000 — — — — — 960 — 960 KIWOOM WOORI Financial 1st Investment Fund 1,000 — (6 ) 1,000 — — — — 994 Woori FirstValue Private Real Estate Fund No.2 9,000 — 1,184 — — — — 946 2,130 Woori Star50 Master Fund ClassC-F 200 — (16 ) 200 — — — — 184 JC Assurance No.2 Private Equity Fund 29,050 — — 29,050 — — — — 29,050 Dream Company Growth no.1 PEF 7,705 — — 7,705 — — — — 7,705 HMS-Oriens 12,000 — — 12,000 — — — — 12,000 Woori High Plus Short-term High Graded ESG Bond Sec Feeder Inv Trust 1 91,092 — 2,382 91,092 — — — — 93,474 974,968 806,360 101,077 552,368 (274,498 ) (187,306 ) 1,249 (5,959 ) 993,291 For the year ended December 31, 2021 Acquisition January 1, Share of Acquisition Disposal/ Dividends Change in December 31, W Service Networks Co., Ltd. 108 191 (4 ) — — (4 ) — 183 Korea Credit Bureau Co., Ltd. 3,313 8,125 1,388 — — (90 ) — 9,423 Korea Finance Security Co., Ltd. 3,267 3,066 35 — — — — 3,101 Woori Growth Partnerships New Technology Private Equity Fund 14,991 15,032 (637 ) — (1,947 ) — — 12,448 2016KIF-IMM 8,396 13,238 3,520 — (3,497 ) (631 ) — 12,630 K BANK Co., Ltd. (*1) 236,232 174,097 67,553 — — — (2,157 ) 239,493 Smart Private Equity Fund No.2 — 1,481 (797 ) — (684 ) — — — Woori Bank-Company K Korea Movie Asset Fund — 2,788 137 — (2,100 ) (480 ) — 345 Partner One Value Up I Private Equity Fund 5,039 9,816 2,521 — (4,961 ) (800 ) — 6,576 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 9,736 9,756 1,417 5,040 (5,060 ) — — 11,153 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 4,255 4,129 — 125 — — — 4,254 LOTTE CARD Co.,Ltd. 346,810 422,832 39,301 — — (10,374 ) 6,536 458,295 Together-Korea Government Private Pool Private Securities Investment Trust No. 3 10,000 10,023 47 — — — — 10,070 Genesis Environmental Energy Company 1st Private Equity Fund 3,738 3,979 147 — — — — 4,126 Union Technology Finance Investment Association 12,750 4,485 (347 ) 8,250 — — — 12,388 Dicustody Co., Ltd. 1 — — 1 — — — 1 Japanese Hotel Real Estate Private Equity Fund No.2 3,291 3,234 237 — — (201 ) (74 ) 3,196 Woori G Clean Energy No.1 — 1,024 — 1,462 (2,338 ) (148 ) — — Woori Goseong Power EBL Private Special Asset Fund — 15,118 227 — (15,118 ) (370 ) 143 — Woori Seoul Beltway Private Special Asset Fund No.1 7,513 5,613 124 1,935 — (121 ) — 7,551 Woori Corporate Private Securities Fund 1 (Bond) — — — 10,000 (10,000 ) — — — Woori G Star Private Placement Investment Trust No.33 [FI] — — — 20,000 (20,000 ) — — — Woori Multi-Return Securities Investment Trust 3 (Balanced Bond) 10,000 — 23 10,000 — — — 10,023 Woori Short-term Bond Securities Investment Trust(Bond) ClassC-F 150,000 — 1,822 150,000 — — — 151,822 WOORI TAERIM 1st Fund 1,100 283 708 — — — — 991 Portone-Cape Fund No.1 340 960 189 — (660 ) — — 489 KIWOOM WOORI Financial 1st Investment Fund 1,000 994 (21 ) — — — — 973 DeepDive WOORI 2021-1 1,000 — (7 ) 1,000 — — — 993 Darwin Green Packaging Private Equity Fund 4,000 — (43 ) 4,000 — — — 3,957 Woori FirstValue Private Real Estate Fund No.2 9,000 2,130 (637 ) — — (730 ) — 763 WooriG Real Infrastructure Blind General Type Private Placement Investment Trust 100 — — 100 — — — 100 Woori High plus G.B. Securities Feeder Fund1(G.B.) — 6,076 — — (6,076 ) — — — Woori Star50 Master Fund ClassC-F — 184 (4 ) — (180 ) — — — For the year ended December 31, 2021 Acquisition January 1, Share of Acquisition Disposal/ Dividends Change in December 31, Woori Hanhwa Eureka Private Equity Fund 164 403 138 — (214 ) — — 327 Aarden Woori Apparel 1st Private Equity Fund 100 — (1 ) 100 — — — 99 Godo Kaisha Oceanos 1 10,800 10,193 127 — — (370 ) (45 ) 9,905 Woori Zip 1 10,143 — (26 ) 16,380 (6,237 ) — 379 10,496 Woori Zip 2 14,254 — (50 ) 22,883 (8,628 ) — 527 14,732 Force TEC Co., Ltd. (*2) — 393 (393 ) — — — — — KUM HWA Co., Ltd. (*2) — — — — — — — — JINMYUNGPLUS CO.,LTD. — — — — — — — — JC Assurance No.2 Private Equity Fund 29,349 29,050 (11,621 ) 299 — — — 17,728 Dream Company Growth no.1 PEF 7,706 7,705 680 — — (471 ) — 7,914 HMS-Oriens 12,000 12,000 7 — — — — 12,007 WooriG Senior Loan General Type Private Investment Trust No.1 87,382 52,045 2,959 38,757 (3,060 ) (2,672 ) — 88,029 Genesis Eco No.1 Private Equity Fund 11,805 — (685 ) 11,805 — — — 11,120 Paratus Woori Material Component Equipment joint venture company 17,700 — (207 ) 17,700 — — — 17,493 Midas No. 8 Private Equity Joint Venture Company 19,000 — (32 ) 19,000 — — — 18,968 PCC-Woori 10,100 8,128 1,697 2,525 — — — 12,350 Woori High Plus Short-term High Graded ESG Bond Sec Feeder Inv 70,988 93,474 921 20,765 (38,870 ) (2,503 ) — 73,787 Woori-Q 45,394 22,904 1,002 25,246 (2,997 ) — — 46,155 Woori-Shinyoung Growth-Cap 17,218 38,342 20,813 12,799 (32,415 ) (10,826 ) — 28,713 1,210,083 993,291 132,228 400,172 (165,042 ) (30,791 ) 5,309 1,335,167 (*1) Included 70,120 million Won of deemed gain on disposal in accordance with the decrease in percentage of ownership from disproportionate contribution for the year ended December 31, 2021. (*2) As a result of discontinuation of the equity method, related companies’ losses amount not recognized is 797 million Won for Force TEC Co., Ltd. and 2 million Won for KUM HWA Co., Ltd. |
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 | (3) Summary financial information relating to investments in associates accounted for using the equity method of accounting is as follows (Unit: Korean Won in millions): December 31, 2020 Assets Liabilities Operating Net (loss) Other Total W Service Networks Co., Ltd. 6,305 2,448 18,525 1,197 — 1,197 Korea Credit Bureau Co., Ltd. 117,077 37,599 107,810 13,391 — 13,391 Korea Finance Security Co., Ltd. 36,978 16,536 60,599 (1,985 ) — (1,985 ) Woori Growth Partnerships New Technology Private Equity Fund 65,390 252 1,589 (9,601 ) — (9,601 ) 2016KIF-IMM 64,109 1,198 7,425 6,201 — 6,201 K BANK Co., Ltd. 4,040,051 3,530,074 68,144 (83,989 ) (1,354 ) (85,343 ) Smart Private Equity Fund No.2 13,667 51 1 (204 ) — (204 ) Woori Bank-Company K Korea Movie Asset Fund 11,273 119 1,926 1,461 — 1,461 Well to Sea No.3 Private Equity Fund 22,001 3,102 610,535 16,061 3,976 20,037 Partner One Value Up I Private Equity Fund 42,205 — 308 (329 ) — (329 ) IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 46,542 655 1,024 (411 ) — (411 ) Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 15,747 — 284 (85 ) — (85 ) LOTTE CARD Co.,Ltd (*) 14,578,716 12,238,805 1,255,593 78,781 (9,040 ) 69,741 Together-Korea Government Private Pool Private Securities Investment Trust No.3 10,025 1 187 23 — 23 Genesis Environmental Energy Company 1st Private Equity Fund 16,192 118 1,400 974 — 974 Union Technology Finance Investment Association 15,151 51 1 (50 ) — (50 ) Japanese Hotel Real Estate Private Equity Fund No.2 16,293 15 1,359 1,271 (940 ) 331 Woori G Clean Energy No.1 3,496 1 33 32 — 32 Woori Goseong Power EBL Private Special Asset Fund 90,728 21 3,060 2,969 — 2,969 Woori Seoul Beltway Private Special Asset Fund No.1 22,452 1 352 323 — 323 WOORI TAERIM 1st Fund 1,192 86 — (22 ) — (22 ) Portone-Cape Fund No.1 4,800 — — — — — KIWOOM WOORI Financial 1st Investment Fund 10,986 57 — (71 ) — (71 ) Woori FirstValue Private Real Estate Fund No.2 20,220 2,467 9 (9 ) — (9 ) Woori High plus G.B. Securities Feeder Fund1(G.B.) 27,870 — 148 148 — 148 Woori Star50 Master Fund ClassC-F 1,011 246 11 11 — 11 Woori Hanhwa Eureka Private Equity Fund 50,382 235 8,150 7,676 — 7,676 Godo Kaisha Oceanos 1 66,793 45,472 1,425 14 — 14 Force TEC Co., Ltd. 47,077 45,552 25,914 (415 ) (2,745 ) (3,160 ) December 31, 2020 Assets Liabilities Operating Net (loss) Other Total JC Assurance No.2 Private Equity Fund 98,431 13 — (732 ) — (732 ) Dream Company Growth no.1 PEF 28,727 43 — (116 ) — (116 ) HMS-Oriens 52,685 53 90 20 — 20 WooriG Senior Loan General Type Private Investment Trust No.1 240,414 15 1,721 1,584 — 1,584 PCC-Woori 20,927 4 2,082 1,425 — 1,425 Woori High Plus Short-term High Graded ESG Bond Sec Feeder Inv Trust 1 402,015 — 10,727 10,727 — 10,727 Woori-Q 58,355 433 206 (1,590 ) — (1,590 ) Woori-Shinyoung Growth-Cap 110,452 825 23,875 21,106 — 21,106 (*) The amount is after reflecting the fair value adjustment that occurred when acquiring the shares and the adjustments that occurred by difference of accounting policies with the Group. December 31, 2021 Assets Liabilities Operating Net (loss) Other Total W Service Networks Co., Ltd. 6,208 2,504 17,019 840 — 840 Korea Credit Bureau Co., Ltd. 113,859 21,284 127,751 20,486 — 20,486 Korea Finance Security Co., Ltd. 34,957 14,286 57,462 249 — 249 Woori Growth Partnerships New Technology Private Equity Fund 54,173 231 3,807 (2,228 ) — (2,228 ) 2016KIF-IMM 63,983 837 23,010 21,119 — 21,119 K BANK Co., Ltd. 14,021,789 12,291,131 250,502 19,348 (32,072 ) (12,724 ) Woori Bank-Company K Korea Movie Asset Fund 1,383 2 1,075 543 — 543 Partner One Value Up I Private Equity Fund 28,273 — 11,972 10,914 — 10,914 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 56,363 597 11,422 10,077 — 10,077 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 15,799 5 — (332 ) — (332 ) LOTTE CARD Co.,Ltd ( *) 15,980,312 13,460,156 1,499,867 184,919 25,612 210,531 Together-Korea Government Private Pool Private Securities Investment Trust No. 3 10,073 1 41 37 — 37 Genesis Environmental Energy Company 1st Private Equity Fund 20,610 3,941 11,347 694 — 694 Union Technology Finance Investment Association 41,996 290 13 (1,168 ) — (1,168 ) Dicustody Co., Ltd. 98 — — (2 ) — (2 ) Japanese Hotel Real Estate Private Equity Fund No.2 16,104 14 911 1,196 (373 ) 823 Woori Seoul Beltway Private Special Asset Fund No.1 30,206 1 536 500 — 500 December 31, 2021 Assets Liabilities Operating Net (loss) Other Total Woori Multi-Return Securities Investment Trust 3 (Balanced Bond) 101,644 51,530 5 2 — 2 Woori Short-term Bond Securities Investment Trust(Bond) ClassC-F 1,209,228 158,524 89 79 — 79 WOORI TAERIM 1st Fund 4,047 172 — 2,770 — 2,770 Portone-Cape Fund No.1 2,447 — 1,050 947 — 947 KIWOOM WOORI Financial 1st Investment Fund 10,818 111 1 (221 ) — (221 ) DeepDive WOORI 2021-1 8,340 — — (60 ) — (60 ) Darwin Green Packaging Private Equity Fund 19,387 — — (213 ) — (213 ) Woori FirstValue Private Real Estate Fund No.2 69,672 63,309 — (5,303 ) — (5,303 ) WooriG Real Infrastructure Blind General Type Private Placement Investment Trust 35,796 1 (34 ) (35 ) — (35 ) Woori Hanhwa Eureka Private Equity Fund 40,817 133 20,193 19,821 — 19,821 Aarden Woori Apparel 1st Private Equity Fund 21,075 89 — (214 ) — (214 ) Godo Kaisha Oceanos 1 66,087 45,367 3,141 267 — 267 Woori Zip 1 52,259 35,833 1,106 (26 ) — (26 ) Woori Zip 2 74,033 50,951 1,536 (50 ) — (50 ) Force TEC Co., Ltd. 11,904 23,508 20,941 (9,188 ) — (9,188 ) KUM HWA Co., Ltd. 20 176 58 (10 ) — (10 ) JINMYUNGPLUS CO.,LTD. 568 445 209 5 — 5 JC Assurance No.2 Private Equity Fund 118,397 — — (1,040 ) — (1,040 ) Dream Company Growth no.1 PEF 28,533 44 — 1,500 — 1,500 HMS-Oriens 52,659 28 2,750 2,179 — 2,179 Woori G Senior Loan Private Placement Investment Trust No.1 406,634 25 14,553 13,669 — 13,669 Genesis Eco No.1 Private Equity Fund 38,369 4 308 (377 ) — (377 ) Paratus Woori Material Component Equipment joint venture company 58,507 — 7 (693 ) — (693 ) Midas No. 8 Private Equity Joint Venture Company 66,699 112 1 (113 ) — (113 ) PCC-Woori 31,585 — 5,720 4,162 — 4,162 Woori High Plus Short-term High Graded ESG Bond Sec Feeder Inv Trust 1 257,891 — 3,239 3,239 — 3,239 Woori-Q 121,057 555 327 (1,547 ) — (1,547 ) Woori-Shinyoung Growth-Cap 82,087 314 83,143 81,550 — 81,550 (*) The amount is after reflecting the fair value adjustment that occurred when acquiring the shares and the adjustments that occurred by difference of accounting policies with the Group. |
Entities that the Group has not applied equity method of accounting although the Group's ownership interest is more than 20% | (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, 2020 and 2021 are as follows: December 31, 2020 Associate (*) Number of shares owned Ownership (%) Orient Shipyard Co., Ltd. (*) 464,812 21.4 Yuil PESC Co., Ltd. (*) 8,642 24.0 CL Tech Co., Ltd. (*) 13,759 38.6 (*) Although 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 December 31, 2021 Associate (*) Number of shares owned Ownership (%) Orient Shipyard Co., Ltd. (*) 464,812 21.4 Yuil PESC Co., Ltd. (*) 8,642 24.0 CL Tech Co., Ltd. (*) 13,759 38.6 S.WIN Co., Ltd. (*) 20,301 20.0 (*) Although 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 |
Reconciliations from the net assets of the associates to the book value of the shares of the investment in joint ventures and associates | (5) As of December 31, 2019, December 31, 2019 Total net Ownership Ownership Basis Impairment Intercompany Book value W Service Networks Co., Ltd. 3,773 4.9 186 — — — 186 Korea Credit Bureau Co., Ltd. 66,566 9.9 6,597 246 — 2 6,845 Korea Finance Security Co., Ltd. 21,914 15.0 3,287 — — — 3,287 Chin Hung International Inc. (*1) 105,383 25.3 26,646 24,565 — (35 ) 51,176 Saman Corporation (*2) 26,022 9.2 2,391 5,373 (6,915 ) — 849 Woori Growth Partnerships New Technology Private Equity Fund 83,253 23.1 19,215 — — (3 ) 19,212 2016KIF-IMM 72,425 20.0 14,485 — — 656 15,141 K BANK Co., Ltd. (*1)(*2) 215,800 14.5 31,248 3,634 (3,634 ) 6 31,254 Smart Private Equity Fund No.2 13,821 20.0 2,764 — — — 2,764 Woori Bank-Company K Korea Movie Asset Fund 13,292 25.0 3,323 — — — 3,323 Well to Sea No.3 Private Equity Fund (*1) 418,250 50.0 209,041 — — (18 ) 209,023 Partner One Value Up 1st Private Equity Fund 42,602 23.3 9,909 — — (1 ) 9,908 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 20,517 20.0 4,103 — — 473 4,576 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 16,815 25.0 4,204 — — 171 4,375 Woori-Shinyoung Growth-Cap 37,022 31.9 11,841 — — — 11,841 LOTTE CARD Co., Ltd (*1) 2,047,220 20.0 409,444 — — — 409,444 December 31, 2019 Total net Ownership Ownership Basis Impairment Intercompany Book value Woori-Q 15,152 38.4 5,813 — — 233 6,046 PCC-Woori 6,498 38.8 2,524 — — 1 2,525 Woori Hanhwa Eureka Private Equity Fund 41,714 0.8 342 — — — 342 Godo Kaisha Oceanos 1 22,909 47.8 10,952 — — — 10,952 Japanese Hotel Real Estate Private Equity Fund No.2 16,555 19.9 3,291 — — — 3,291 (*1) The net asset equity amount is after the debt-for-equity non-controlling (*2) As a result of conducting an impairment test on the investment stocks of the related companies, the recoverable value was less than the carrying amount and thus the impairment loss was recognized. December 31, 2020 Total net Ownership Ownership Basis Impairment Intercompany Book value W Service Networks Co., Ltd. 3,857 4.9 191 — — — 191 Korea Credit Bureau Co., Ltd. 79,478 9.9 7,876 246 — 3 8,125 Korea Finance Security Co., Ltd. 20,442 15.0 3,066 — — — 3,066 Woori Growth Partnerships New Technology Private Equity Fund 65,138 23.1 15,034 — — (2 ) 15,032 2016KIF-IMM 62,911 20.0 12,582 — — 656 13,238 K BANK Co., Ltd. (*1)(*2) 509,978 26.2 133,614 44,117 (3,634 ) — 174,097 Smart Private Equity Fund No.2 (*2) 13,616 20.0 2,723 — (1,242 ) — 1,481 Woori Bank-Company K Korea Movie Asset Fund 11,154 25.0 2,788 — — — 2,788 Well to Sea No.3 Private Equity Fund (*3) 18,899 50.0 — — — — — Partner One Value Up Ist Private Equity Fund 42,205 23.3 9,817 — — (1 ) 9,816 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 45,888 20.0 9,178 — — 578 9,756 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 15,747 25.0 3,937 — — 192 4,129 Woori-Shinyoung Growth-Cap 109,627 35.0 38,342 — — — 38,342 LOTTE CARD Co., Ltd (*1) 2,114,159 20.0 422,832 — — — 422,832 Woori-Q 57,922 38.4 22,220 — — 684 22,904 PCC-Woori 20,923 38.8 8,126 — — 2 8,128 Force TEC 1,526 25.8 393 — — — 393 Together-Korea Government Private Pool Private Securities Investment Trust No.3 10,024 100.0 10,024 — — (1 ) 10,023 Genesis Environmental Energy Company 1st Private Equity Fund 16,074 24.8 3,979 — — — 3,979 Union Technology Finance Investment Association 15,100 29.7 4,485 — — — 4,485 Woori Hanhwa Eureka Private Equity Fund 50,147 0.8 403 — — — 403 Godo Kaisha Oceanos 1 21,321 47.8 10,193 — — — 10,193 Japanese Hotel Real Estate Private Equity Fund No.2 16,278 19.9 3,234 — — — 3,234 Woori High plus G.B. Securities Feeder Fund1(G.B.) 27,870 21.8 6,076 — — — 6,076 December 31, 2020 Total net Ownership Ownership Basis Impairment Intercompany Book value Woori G Senior Loan General Type Private Investment Trust No.1 240,399 21.7 52,045 — — — 52,045 Woori G Clean Energy No.1 3,495 29.3 1,024 — — — 1,024 Woori Goseong Power EBL Private Special Asset Fund 90,707 16.7 15,118 — — — 15,118 Woori Seoul Beltway Private Special Asset Fund No.1 22,451 25.0 5,613 — — — 5,613 WOORI TAERIM 1st Fund 1,106 25.6 283 — — — 283 Portone-Cape Fund No.1 4,800 20.0 960 — — — 960 KIWOOM WOORI Financial 1st Investment Fund 10,929 9.1 994 — — — 994 Woori FirstValue Private Real Estate Fund No.2 17,753 12.0 2,130 — — — 2,130 Woori Star50 Master Fund ClassC-F 765 24.5 184 — — — 184 JC Assurance No.2 Private Equity Fund 98,418 29.3 29,050 — — — 29,050 Dream Company Growth no.1 PEF 28,684 27.8 7,705 — — — 7,705 HMS-Oriens 52,632 22.8 12,000 — — — 12,000 Woori High Plus Short-term High Graded ESG Bond Sec Feeder Inv Trust 1 402,015 23.3 93,474 — — — 93,474 (*1) The net asset equity amount is after the debt-for-equity non-controlling (*2) As a result of conducting an impairment test on the investment stocks of the related companies, the recoverable value was less than the carrying amount and thus the impairment loss was recognized. (*3) The estimated recoverable amount of 15,687 million Won at the time of liquidation was classified as receivable. December 31, 2021 Total net Ownership Ownership net assets Basis Impairment Intercompany Book value W Service Networks Co., Ltd. 3,704 4.9 183 — — — 183 Korea Credit Bureau Co., Ltd. 92,575 9.9 9,177 246 — — 9,423 Korea Finance Security Co., Ltd. 20,671 15.0 3,101 — — — 3,101 Woori Growth Partnerships New Technology Private Equity Fund 53,942 23.1 12,448 — — — 12,448 2016KIF-IMM 63,146 20.0 12,630 — — — 12,630 K BANK Co., Ltd. (*) 1,730,307 12.6 217,599 21,894 — — 239,493 Woori Bank-Company K Korea Movie Asset Fund 1,381 25.0 345 — — — 345 Partner One Value Up 1st Private Equity Fund 28,273 23.3 6,576 — — — 6,576 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 55,767 20.0 11,153 — — — 11,153 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 15,794 25.0 3,949 — — 305 4,254 LOTTE CARD Co., Ltd (*1) 2,291,474 20.0 458,295 — — — 458,295 Together-Korea Government Private Pool Private Securities Investment Trust No.3 10,071 100.0 10,070 — — — 10,070 Genesis Environmental Energy Company 1st Private Equity Fund 16,669 24.8 4,126 — — — 4,126 Union Technology Finance Investment Association 41,706 29.7 12,388 — — — 12,388 Dicustody Co., Ltd. 98 1.0 1 — — — 1 December 31, 2021 Total net Ownership Ownership net assets Basis Impairment Intercompany Book value Japanese Hotel Real Estate Private Equity Fund No.2 16,090 19.9 3,196 — — — 3,196 Woori Seoul Beltway Private Special Asset Fund No.1 30,205 25.0 7,551 — — — 7,551 Woori Multi Return Private Securities Investment Trust 3(Balanced Bond) 50,114 20.0 10,023 — — — 10,023 Woori Short-term Bond Securities Investment Trust (Bond) ClassC-F 1,050,704 14.5 151,822 — — — 151,822 WOORI TAERIM 1st Fund 3,875 25.6 991 — — — 991 Portone-Cape Fund No.1 2,447 20.0 489 — — — 489 KIWOOM WOORI Financial 1st Investment Fund 10,707 9.1 973 — — — 973 DeepDive WOORI 2021-1 8,340 11.9 993 — — — 993 Darwin Green Packaging Private Equity Fund 19,387 20.4 3,957 — — — 3,957 Woori FirstValue Private Real Estate Fund No.2 6,363 12.0 763 — — — 763 WooriG Real Infrastructure Blind General Type Private Placement Investment Trust 35,795 0.3 100 — — — 100 Woori Hanhwa Eureka Private Equity Fund 40,684 0.8 327 — — — 327 Aarden Woori Apparel 1st Private Equity Fund 20,986 0.5 99 — — — 99 Godo Kaisha Oceanos 1 20,720 47.8 9,905 — — — 9,905 Woori Zip 1 16,426 63.9 10,496 — — — 10,496 Woori Zip 2 23,082 63.8 14,732 — — — 14,732 Force TEC (11,604 ) 24.5 (2,843 ) — — 2,843 — KUM HWA Co., Ltd. (156 ) 20.1 (31 ) — — 31 — JINMYUNGPLUS CO.,LTD. 123 21.3 25 — — (25 ) — JC Assurance No.2 Private Equity Fund 118,397 24.4 29,349 — (11,621 ) — 17,728 Dream Company Growth no.1 PEF 28,489 27.8 7,914 — — — 7,914 HMS-Oriens 52,631 22.8 12,007 — — — 12,007 WooriG Senior Loan General Type Private Investment Trust No.1 406,609 21.7 88,029 — — — 88,029 Genesis Eco No.1 Private Equity Fund 38,365 29.0 11,120 — — — 11,120 Paratus Woori Material Component Equipment joint venture company 58,507 29.9 17,493 — — — 17,493 Midas No. 8 Private Equity Joint Venture Company 66,587 28.5 18,968 — — — 18,968 PCC-Woori 31,585 38.8 12,350 — — — 12,350 Woori High Plus Short-term High Graded ESG Bond Sec Feeder Inv Trust 1 257,891 27.5 73,787 — — — 73,787 Woori-Q 120,502 38.1 46,155 — — — 46,155 Woori-Shinyoung Growth-Cap 81,773 35.0 28,713 — — — 28,713 (*) The net asset equity amount is after the debt-for-equity non-controlling |
Investment Properties (Tables)
Investment Properties (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of detailed information about 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 409,702 415,163 Accumulated depreciation (22,152 ) (25,582 ) Accumulated impairment losses (86 ) (86 ) Net carrying value 387,464 389,495 |
Changes in investment properties | (2) Changes in investment properties are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Beginning balance (*) 178,910 280,239 387,464 Acquisition 70,346 76,588 — Disposal (193 ) (353 ) — Depreciation (2,225 ) (2,689 ) (2,809 ) Transfer 32,394 30,431 6,095 Foreign currencies translation adjustments 402 267 (1,255 ) Business combination — 10,557 — Others 605 (7,576 ) — Ending balance 280,239 387,464 389,495 (*) 199,286 million Won was deducted from the beginning net carrying amount for the year 2019, as it was reclassified from the investment properties to premises and equipment in the beginning of the period. |
Lease payments expected to be received in the future under lease contracts | (5) The lease payments expected to be received in the future under lease contracts relating to investment properties as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, December 31, Lease payments: Within a year 11,553 13,769 More than 1 year and within 2 years 8,403 10,770 More than 2 years and within 3 years 7,545 7,743 More than 3 years and within 4 years 7,154 5,009 More than 4 years and within 5 years 4,312 2,953 More than 5 years 2,534 2,603 Total 41,501 42,847 |
Premises And Equipment (Tables)
Premises And Equipment (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Property Plant And Equipment [Abstract] | |
Details of premises and equipment | (1) Details of premises and equipment as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, 2020 Land Building Equipment Leasehold Construction Structures Total Premises and equipment (owned) 1,726,045 787,040 268,225 50,085 8,246 2 2,839,643 Right-of-use — 435,132 12,423 — — — 447,555 Carrying value 1,726,045 1,222,172 280,648 50,085 8,246 2 3,287,198 December 31, 2021 Land Building Equipment Leasehold Construction Structures Total Premises and equipment (owned) 1,719,325 756,964 258,361 51,354 3,171 1 2,789,176 Right-of-use — 367,480 18,064 — — — 385,544 Carrying value 1,719,325 1,124,444 276,425 51,354 3,171 1 3,174,720 |
Details of premises and equipment owned | (2) Details of premises and equipment (owned) as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, 2020 Land Building Equipment Leasehold Construction Structures Total Acquisition cost 1,726,705 1,076,647 1,142,653 478,290 8,246 20 4,432,561 Accumulated depreciation — (289,607 ) (874,428 ) (428,205 ) — (18 ) (1,592,258 ) Accumulated impairment losses (660 ) — — — — — (660 ) Net carrying value 1,726,045 787,040 268,225 50,085 8,246 2 2,839,643 December 31, 2021 Land Building Equipment Leasehold Construction Structures Total Acquisition cost 1,719,985 1,076,091 1,156,479 475,195 3,171 20 4,430,941 Accumulated depreciation — (319,127 ) (898,118 ) (423,841 ) — (19 ) (1,641,105 ) Accumulated impairment losses (660 ) — — — — — (660 ) Net carrying value 1,719,325 756,964 258,361 51,354 3,171 1 2,789,176 |
Changes in premises and equipment owned | (3) Details of changes in premises and equipment (owned) are as follows (Unit: Korean Won in millions): For the year ended December 31, 2019 Land Building Equipment Leasehold Construction Structures Total Beginning balance 1,481,871 661,912 240,013 57,594 9,099 3 2,450,492 Acquisitions 186,303 87,667 119,474 28,788 7,315 — 429,547 Disposals (3,015 ) (2,245 ) (1,203 ) (2,738 ) — — (9,201 ) Depreciation — (30,766 ) (87,453 ) (27,134 ) — (1 ) (145,354 ) Classified as held-for-sale (21 ) (74 ) — — — — (95 ) Transfer 93,956 83,260 3,670 912 (14,886 ) — 166,912 Foreign currencies translation adjustments 880 801 1,459 609 36 — 3,785 Business combination 1,185 74 926 1 — — 2,186 Others — 1,670 1,130 (3,193 ) (277 ) — (670 ) Ending balance 1,761,159 802,299 278,016 54,839 1,287 2 2,897,602 For the year ended December 31, 2020 Land Building Equipment Leasehold Construction Structures Total Beginning balance 1,761,159 802,299 278,016 54,839 1,287 2 2,897,602 Acquisitions 3,787 26,972 84,828 26,124 7,751 — 149,462 Disposals (8,326 ) (1,719 ) (605 ) (688 ) — — (11,338 ) Depreciation — (34,572 ) (94,388 ) (30,579 ) — — (159,539 ) Transfer (30,847 ) (2,048 ) 118 — (118 ) — (32,895 ) Foreign currencies translation adjustments (836 ) (882 ) (1,849 ) (830 ) (82 ) — (4,479 ) Business combination 1,108 81 2,150 437 — — 3,776 Others — (3,091 ) (45 ) 782 (592 ) — (2,946 ) Ending balance 1,726,045 787,040 268,225 50,085 8,246 2 2,839,643 For the year ended December 31, 2021 Land Building Equipment Leasehold Construction Structures Total Beginning balance 1,726,045 787,040 268,225 50,085 8,246 2 2,839,643 Acquisitions — 15,750 68,069 23,347 11,637 — 118,803 Disposals — (1,994 ) (1,663 ) (979 ) — — (4,636 ) Depreciation — (33,523 ) (93,921 ) (22,293 ) — (1 ) (149,738 ) Classification of assets held for sale (7,157 ) (5,695 ) — — — — (12,852 ) Transfer (3,649 ) (2,446 ) 15,399 — (15,399 ) — (6,095 ) Foreign currencies translation adjustments 991 712 2,868 1,580 153 — 6,304 Others 3,095 (2,880 ) (616 ) (386 ) (1,466 ) — (2,253 ) Ending balance 1,719,325 756,964 258,361 51,354 3,171 1 2,789,176 |
Details of right-of-use assets | (4) Details of right-of-use December 31, 2020 Building Equipment Total Acquisition cost 720,417 28,463 748,880 Accumulated depreciation (285,285 ) (16,040 ) (301,325 ) Net carrying value 435,132 12,423 447,555 December 31, 2021 Building Equipment Total Acquisition cost 650,906 30,559 681,465 Accumulated depreciation (283,426 ) (12,495 ) (295,921 ) Net carrying value 367,480 18,064 385,544 |
Changes in right-of-use assets | (5) Details of changes in right-of-use For the year ended December 31, 2020 Building Equipment Total Beginning balance 449,878 17,236 467,114 New contracts 224,494 6,831 231,325 Changes in contract 10,729 32 10,761 Termination (18,925 ) (574 ) (19,499 ) Depreciation (224,946 ) (11,716 ) (236,662 ) Business combination 3,210 381 3,591 Others (9,308 ) 233 (9,075 ) Ending balance 435,132 12,423 447,555 For the year ended December 31, 2021 Building Equipment Total Beginning balance 435,132 12,423 447,555 New contracts 172,812 16,848 189,660 Changes in contract 9,064 225 9,289 Termination (46,563 ) (1,742 ) (48,305 ) Depreciation (228,403 ) (10,665 ) (239,068 ) Business combination — — — Others 25,438 975 26,413 Ending balance 367,480 18,064 385,544 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of detailed information about intangible assets [abstract] | |
Details Of Intangible Assets | (1) Details of intangible assets are as follows (Unit: Korean Won in millions): December 31, 2020 Goodwill Industrial Development Other Membership Construction Total Acquisition cost 334,290 1,810 582,998 1,114,615 39,454 6,669 2,079,836 Accumulated amortization — (1,101 ) (374,125 ) (875,636 ) — — (1,250,862 ) Accumulated impairment losses — — — (33,534 ) (3,363 ) — (36,897 ) Net carrying value 334,290 709 208,873 205,445 36,091 6,669 792,077 December 31, 2021 Goodwill Industrial Development Other Membership Construction Total Acquisition cost 345,449 2,057 661,959 1,174,565 40,955 717 2,225,702 Accumulated amortization — (1,334 ) (454,251 ) (947,830 ) — — (1,403,415 ) Accumulated impairment losses — — — (33,553 ) (3,348 ) — (36,901 ) Net carrying value 345,449 723 207,708 193,182 37,607 717 785,386 |
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, 2019 Goodwill Industrial Development Other Membership Construction Total Beginning balance 153,602 562 240,320 169,024 23,597 10,415 597,520 Acquisitions — 318 41,373 100,671 4,931 8,754 156,047 Disposal — — — — (675 ) — (675 ) Amortization (*) — (188 ) (64,415 ) (63,810 ) — — (128,413 ) Impairment losses — — — (25,858 ) (939 ) — (26,797 ) Transfer — — 7,915 7,188 — (15,103 ) — Foreign currencies translation adjustments 10,234 — — 2,292 60 — 12,586 Business combination 186,846 — — 44,365 2,143 — 233,354 Others — — — 275 213 — 488 Ending balance 350,682 692 225,193 234,147 29,330 4,066 844,110 (*) Amortization of other intangible assets amounting to 22,317 million Won is included in other operating expenses. For the year ended December 31, 2020 Goodwill Industrial Development Other Membership Construction Total Beginning balance 350,682 692 225,193 234,147 29,330 4,066 844,110 Acquisitions — 233 53,273 41,329 5,183 3,197 103,215 Disposal — — — — (782 ) — (782 ) Amortization (*) — (216 ) (71,620 ) (64,822 ) — — (136,658 ) Impairment losses — — — (7,692 ) (99 ) — (7,791 ) Transfer — — 428 164 — (592 ) — Foreign currencies translation adjustments (14,802 ) — — (2,208 ) (15 ) (2 ) (17,027 ) Business combination — — 2,403 4,199 2,079 — 8,681 Others (1,590 ) — (804 ) 328 395 — (1,671 ) Ending balance 334,290 709 208,873 205,445 36,091 6,669 792,077 (*) Amortization of other intangible assets amounting to 11,890 million Won is included in other operating expenses. For the year ended December 31, 2021 Goodwill Industrial Development Other Membership Construction Total Beginning balance 334,290 709 208,873 205,445 36,091 6,669 792,077 Acquisitions — 247 74,444 49,137 2,437 977 127,242 Disposal — — — — (347 ) — (347 ) Amortization (*) — (233 ) (80,128 ) (68,950 ) — — (149,311 ) Impairment losses — — — (18 ) (93 ) — (111 ) Transfer — — 4,518 2,946 — (7,464 ) — Foreign currencies translation adjustments 11,159 — — 2,952 232 — 14,343 Others — — 1 1,670 (713 ) 535 1,493 Ending balance 345,449 723 207,708 193,182 37,607 717 785,386 (*) Amortization of other intangible assets amounting to 13,963 million Won is included in other operating expenses. |
Details Of Allocated Goodwill Based On Each Cash-generating Unit | 1) Details of allocated goodwill based on each cash-generating unit as of December 31, 2020 and 2021 are as follows (Unit: Korean won in million): Cash-generating unit (*1) December 31, December 31, Woori Asset Management Corp. 43,036 43,036 Woori Global Asset Management Co., Ltd. 2,030 2,030 Woori Asset Trust Co., Ltd. 141,780 141,780 PT Bank Woori Saudara Indonesia 1906 Tbk (*2) 92,831 99,667 WOORI BANK (CAMBODIA) PLC (*3) 47,924 52,082 Others 6,689 6,854 Total 334,290 345,449 (*1) Allocated to the cash-generating unit that will benefit from the synergy effect of the business combination, and the cash-generating unit is generally comprised of the operating segment or sub-sectors. (*2) The Group has acquired Saudara Bank to expand retail sales in Indonesia and recognized the goodwill as it is expected to strengthen the competitiveness by securing a local sales network in Indonesia. (*3) The Group has acquired VisionFund Cambodia to expand Cambodian retail sales, and recognized goodwill based on the economies of scale and acquired customer base. |
Impairment Test Of Allocated Goodwill Based On Each Cash-generating Unit | 2) Impairment test The recoverable amount of the cash-generating unit is measured at larger amount among the fair value less costs to sell or the value to use. The net fair value is calculated by deducting costs of disposal from the amount received from the sale of the cash-generating unit in an arm’s length transaction between the parties with reasonable judgment and willingness to negotiate. In case of difficulty in measuring this amount, the sale amount of a similar cash-generating unit in the past market is calculated by reflecting the characteristics of the cash-generating unit. If reliable information related to fair value less costs to sell is not available, value in use is considered as recoverable amount. Value in use is the present value of future cash flows expected to be generated by the cash-generating unit. Future cash flows are estimated based on the latest financial budget approved by the management, with an estimated period of up to five years. The Group applied 0.0%—1.0% growth rate to estimate future cash flow for the period over five years. The main assumptions used to estimate cash flows are about the size of the market and the share of the group. The appropriate discount rate for discounting future cash flows is the pre-tax Category Woori Asset Woori Asset Woori PT Bank WOORI Discount rate (%) 18.72 17.82 17.52 11.96 12.60 Terminal growth rate (%) 1.0 1.0 1.0 0.0 0.0 Recoverable amount 326,205 137,578 41,967 606,626 369,782 Carrying amount 262,116 132,601 29,954 592,136 357,902 As a result of the impairment test on goodwill, it is determined that the carrying amount of the cash-generating unit to which the goodwill has been allocated will not exceed the recoverable amount. |
Sensitivity Of The Fair Value Measurement To Changes In Significant But Unobservable Inputs Used In Measuring Fair Value | 3) Sensitivity analysis The sensitivity of the fair value measurement to changes in significant but unobservable inputs used in measuring fair value is as follows (Unit: Korean Won in millions): Category Woori Asset Woori Asset Woori Global Asset PT Bank Woori WOORI Discount rate (%) Increase by 1.0% point (29,949 ) (6,638 ) (1,999 ) (62,532 ) (30,603 ) Decrease by 1.0% point 34,863 7,741 2,356 74,238 35,994 Terminal growth rate (%) Increase by 1.0% point 18,640 4,179 1,318 47,187 20,339 Decrease by 1.0% point (*) (16,089 ) (3,603 ) (1,123 ) — — (*) In the case of PT Bank Woori Saudara Indonesia 1906 Tbk and and WOORI BANK (CAMBODIA) PLC, declining cases are excluded from the analysis as the permanent growth rate was assumed to be 0%. |
Assets held for sale (Tables)
Assets held for sale (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners [abstract] | |
Assets Held for Sale | Assets held for distribution (sale) are as follows (Unit: Korean Won in millions): Assets (*) December 31, December 31, Premises and equipment 2,130 8,900 Investments of associates 50,411 11,472 Others 7,461 5,955 Total 60,002 26,327 (*) The Group classifies assets as held for sale that are highly likely to be sold within one year from December 31, 2020 and |
Assets Subject to Lien and As_2
Assets Subject to Lien and Assets Acquired Through Foreclosures (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Collateral [Abstract] | |
Assets subjected to lien | (1) Assets subjected to lien are as follows (Unit: Korean Won in millions): December 31, 2020 Collateral given to Amount Reason for collateral Financial assets at FVTPL Korean treasury and government bonds and others Kookmin bank and others 259,835 Related to bonds sold under repurchase agreements(*) Korean treasury and government bonds and others Korea Securities Depository 157,021 Securities borrowing collateral Korean treasury and government bonds and others Shinhan Investment Corp. 42,428 Collateral for futures transaction Korean financial institutions’ debt securities and others Korea Securities Depository 148,961 Securities borrowing collateral Korean financial institutions’ debt securities and others Kookmin bank and others 150,496 Related to bonds sold under repurchase agreements (*) Korean financial institutions’ debt securities and others TIMEFOLIO Co., Ltd. 19,958 Collateral for futures transaction Financial assets at FVTOCI Korean treasury and government bonds and others Korea Securities Depository 473 Related to bonds sold under repurchase agreements(*) Korean financial institutions’ debt securities and others The BOK and others 1,621,941 Settlement risk and others Foreign financial institutions’ debt securities STANDARD BANK LONDON LTD 137,842 Related to bonds sold under repurchase agreements (*) Securities at amortized cost Korean treasury and government bonds and others The BOK and others 8,111,193 Settlement risk and others Foreign financial institutions’ debt securities NATIXIS and others 40,987 Related to bonds sold under repurchase agreements (*) Foreign financial institutions’ debt securities Federal Reserve Bank 14,377 Related to the borrowing limit Loan at amortized cost and other financial assets Due from banks in local currency Daishin AMC Co.,Ltd. and others 1,500 Right of pledge Other due from banks in local currency Samsung Securities Co., Ltd. and others 39,005 Margin deposit for futures or option December 31, 2020 Collateral given to Amount Reason for collateral Other due from banks in local currency Korea Federation of Savings Banks 47,805 Domestic exchange business Other due from banks in foreign currencies JPMORGAN CHASE BANK and others 755,177 Collateral for CSA and others Foreign currency loan bonds Industrial and Commercial Bank of China 50,088 Related to bonds sold under repurchase agreements (*) Mortgage loan Public offering 3,190,889 Related to covered bonds Investment real estate Land and building Credit Counselling & Recovery Service and others 5,676 Right to collateral and others Premises and equipment Land and building Credit Counselling & Recovery Service and others 1,969 Right to collateral and others Total 14,797,621 (*) 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). The asset is equivalent to a mortgage-backed debt security. December 31, 2021 Collateral given to Amount Reason for collateral Financial assets at FVTPL Korean treasury and government bonds and others Nonghyup bank and others 248,009 Related to bonds sold under repurchase agreements (*) Korean treasury and government bonds and others Korea Securities Depository 179,079 Securities borrowing collateral Korean treasury and government bonds and others VI Investment, etc. 3,008 Future trading collateral Korean financial institutions’ debt securities and others Korea Securities Depository 205,783 Securities borrowing collateral Korean financial institutions’ debt securities and others KOREA SECURITIES FINANCE CORPORATION 54,419 Collateral for securities lending purposes Korean financial institutions’ debt securities and others Shinhan Investment Corp. 5,352 Collateral for futures transaction December 31, 2021 Collateral given to Amount Reason for collateral Korean corporate bonds and others Korea Securities Depository 299,161 Securities borrowing collateral Korean capital contributions and others Korea Software Financial Cooperative 101 Bid guarantee, etc. Financial assets at FVTOCI Korean Korea Securities Depository 470 Related to bonds sold under repurchase agreements(*) Korean financial institutions’ debt securities and others The BOK and others 3,666,849 Settlement risk and others Foreign financial institutions’ debt securities STANDARD BANKLONDON LTD 126,595 Related to bonds sold under repurchase agreements(*) Securities at amortized cost Korean treasury and government bonds and others The BOK and others 8,977,748 Settlement risk and others Foreign financial institutions’ debt securities NATIXIS and others 38,995 Related to bonds sold under repurchase agreements(*) Foreign financial institutions’ debt securities FHLB ADVANCE and others 10,375 Related to the borrowing limit Loan at amortized cost and other financial assets Due from banks in local currency Daishin AMC Co.,Ltd. and others 1,500 Right of pledge Other due from banks in local currency Samsung Securities Co., Ltd. and others 25,338 Margin deposit for futures or option Other due from banks in foreign currency Yuanta Securities Korea Co., Ltd., etc. 1,051,006 Overseas futures option deposit, etc. Mortgage loan Public offering 2,494,333 Related to covered bonds Investment real estate Land and building Credit Counselling & Recovery Service and others 1,910 Right to collateral and others Premises and equipment Land and building Credit Counselling & Recovery Service and others 5,520 Right to collateral and others Total 17,395,551 (*) 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). The asset is equivalent to a mortgage-backed debt security. |
Assets acquired through foreclosures | (2) As of December 31, 2020 and 2021, assets acquired through foreclosures are as follows (Unit: Korean Won in millions): December 31, December 31, Investment properties Land 5,425 2,185 Building — 181 Sub-total 5,425 2,366 Other assets Land for non-business 10,684 21,156 Building for non-business (*1) 1,966 1,526 Movables for non-business (*2) 155 120 Real estate assessment provision for non-business (670 ) (1,129 ) Sub-total 12,135 21,673 Assets held for sale Land 5,477 2,980 Building 3,568 2,557 Others 546 418 Sub-total 9,591 5,955 Total 27,151 29,994 (*1) The cumulative depreciation amount as of December 31, 2020 and 2021 is 566 million Won and 716 million Won, respectively. (*2) The cumulative depreciation amount as of December 31, 2020 and 2021 is 854 million Won and 907 million Won, respectively. |
Schedule of securities loaned | (3) Securities loaned are as follows (Unit: Korean Won in millions): December 31, 2020 December 31, Loaned to Financial assets at FVTOCI Korean treasury and government bonds 100,345 98,535 Korea Securities Finance Corporation Securities loaned are lending of specific securities to borrowers who agree to return the same amount of the same security at the end of lending period, and therefore the Group did not derecognize from the consolidated financial statements. |
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, 2020 Fair values of collaterals Fair values of collaterals were disposed re-subjected Securities 10,573,982 — December 31, 2021 Fair values of collaterals Fair values of collaterals were disposed re-subjected Securities 10,785,412 — |
Other Assets (Tables)
Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Miscellaneous assets [abstract] | |
Details of other assets | Details of other assets are as follows (Unit: Korean Won in millions): December 31, December 31, Lease assets 1,116,175 1,782,887 Prepaid expenses 170,820 189,808 Advance payments 28,256 61,042 Assets for non-business use 12,135 16,248 Others 21,608 38,965 Total 1,348,994 2,088,950 |
Financial Liabilities at FVTPL
Financial Liabilities at FVTPL (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Financial liabilities at fair value through profit or loss [abstract] | |
Summary of financial liabilities at FVTPL | (1) Financial liabilities at FVTPL are as follows (Unit: Korean Won in millions): December 31, December 31, Financial instruments at fair value through profit or loss measured at fair value 6,794,192 4,873,458 Financial liabilities at fair value through profit or loss designated as upon initial recognition 19,630 — Total 6,813,822 4,873,458 |
Summary of financial liabilities at fair value through profit or loss mandatorily measured at fair value | (2) Financial liabilities at fair value through profit or loss measured at fair value are as follows (Unit: Korean Won in millions): December 31, December 31, Deposits Gold banking liabilities 49,279 65,016 Borrowings Securities sold 285,026 241,174 Derivative liabilities 6,459,887 4,567,268 Total 6,794,192 4,873,458 |
Summary of financial liabilities at fair value through profit or loss designated as upon initial recognition | (3) Financial liabilities at fair value through profit or loss designated as upon initial recognition as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, December 31, Equity-linked securities Equity-linked securities in short position 19,630 — |
Summary of 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 19,630 — Nominal amount at maturity 25,780 — Difference (6,150 ) — |
Deposits Due to Customers (Tabl
Deposits Due to Customers (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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 12,454,024 18,029,136 Deposits at termination 242,397,664 254,319,473 Mutual installment 26,319 24,620 Deposits on notes payables 2,647,492 2,954,066 Deposits on CMA 110,413 92,360 Certificate of deposits 2,072,389 3,586,423 Other deposits 1,372,461 1,286,719 Sub-total 261,080,762 280,292,797 Deposits in foreign currencies: Deposits in foreign currencies 30,408,762 37,643,900 Present value discount (12,245 ) (36,826 ) Total 291,477,279 317,899,871 |
Borrowings And Debentures (Tabl
Borrowings And Debentures (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Borrowings [abstract] | |
Details Of Borrowings | (1) Details of borrowings are as follows (Unit: Korean Won in millions): December 31, 2020 Lenders Interest rate Amount Borrowings in local currency: Borrowings from The BOK The BOK 0.3 2,678,120 Borrowings from government funds Small Enterprise And Market Service and others 0.0 ~ 5.0 2,155,129 Others The Korea Development Bank and others 0.0 ~ 5.5 7,255,938 Sub-total 12,089,187 Borrowings in foreign currencies Borrowings in foreign currencies JPMorgan Chase & Co. and others (0.4) ~ 7.3 7,573,722 Bills sold Others 0.0 ~ 0.9 8,924 Call money Bank and others (0.3) ~ 3.8 416,370 Bonds sold under repurchase agreements Other financial institutions (0.5) ~ 10.6 657,823 Present value discount (560 ) Total 20,745,466 December 31, 2021 Lenders Interest rate Amount Borrowings in local currency: Borrowings from The BOK The BOK 0.3 3,144,897 Borrowings from government funds Small Enterprise And Market Service and others 0.0 ~ 2.4 2,053,611 Others The Korea Development Bank and others 0.0 ~ 3.1 9,984,518 Sub-total 15,183,026 Borrowings in foreign currencies Borrowings in foreign currencies JPMorgan Chase & Co. and others (0.5) ~ 7.3 8,545,077 Bills sold Others 0.0 ~ 1.3 9,111 Call money Bank and others (0.5) ~ 2.6 317,961 Bonds sold under repurchase agreements Other financial institutions (0.5) ~ 10.6 749,976 Present value discount (49,692 ) Total 24,755,459 |
Details Of Debentures | (2) Details of debentures are as follows (Unit: Korean Won in millions): December 31, 2020 December 31, 2021 Interest rate Amount Interest rate Amount Face value of bond (*) Ordinary bonds 0.8 ~ 4.5 29,623,445 0.7 ~ 3.6 37,004,942 Subordinated bonds 1.9 ~ 5.9 6,955,515 1.9 ~ 5.1 6,767,442 Other bonds 0.6 ~ 17.0 925,677 0.8 ~ 17.0 911,190 Sub-total 37,504,637 44,683,574 Discounts on bonds (25,279 ) (29,710 ) Total 37,479,358 44,653,864 (*) Included debentures under fair value hedge amounting to and 2,767,208 million Won and 2,366,724 million Won as of December 31, 2020 and 2021 respectively. Also, debentures under cash flow hedge amounting to 857,531 million Won and 819,298 million Won are included as of December 31, 2020 and 2021 respectively. |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Provisions [abstract] | |
Summary of details of provisions | (1) Details of provisions are as follows (Unit: Korean Won in millions): December 31, 2020 December 31, 2021 Asset retirement obligation 68,402 80,777 Provisions for guarantees (*1) 89,592 74,866 Provisions for unused loan commitments 122,155 112,296 Other provisions (*2) 221,494 308,195 Total 501,643 576,134 (*1) Provisions for guarantees includes provision for financial guarantee of 66,232 million Won and 53,321 million Won as of December 31, 2020 and 2021, respectively. (*2) Other provisions consist of provision for litigation, loss compensation and others. |
Summary of changes in provisions on guarantees | 1) Provisions for guarantees For the year ended December 31, 2019 Stage1 Stage2 Stage3 Total Beginning balance 44,903 33,760 11,098 89,761 Transfer to 12-month 13,568 (13,568 ) — — Transfer to expected credit loss for the entire period (317 ) 532 (215 ) — Transfer to credit-impaired financial assets (30 ) (32 ) 62 — Provisions used (27,711 ) — — (27,711 ) Net provision (reversal) of unused amount (14,400 ) 5,611 4,437 (4,352 ) Others (*) 34,788 — — 34,788 Ending balance 50,801 26,303 15,382 92,486 (*) Others have occurred as a result of new financial guarantee contract valued at initial fair value. For the year ended December 31, 2020 Stage1 Stage2 Stage3 Total Beginning balance 50,801 26,303 15,382 92,486 Transfer to 12-month 81 (60 ) (21 ) — Transfer to expected credit loss for the entire period (396 ) 1,639 (1,243 ) — Transfer to credit-impaired financial assets (12 ) (13 ) 25 — Net provision (reversal) of unused amount (1,124 ) (11,124 ) (6,100 ) (18,348 ) Business combination 14,501 — — 14,501 Others (*) 953 — — 953 Ending balance 64,804 16,745 8,043 89,592 (*) Includes the impact from change of financial guarantee liability. For the year ended December 31, 2021 Stage1 Stage2 Stage3 Total Beginning balance 64,804 16,745 8,043 89,592 Transfer to 12-month 2,146 (2,144 ) (2 ) — Transfer to expected credit loss for the entire period (162 ) 193 (31 ) — Transfer to credit-impaired financial assets (3 ) (162 ) 165 — Provisions used (6,964 ) — — (6,964 ) Net provision (reversal) of unused amount (9,929 ) 636 (1,408 ) (10,701 ) Others (*) 2,938 1 — 2,939 Ending balance 52,830 15,269 6,767 74,866 (*) Includes the impact from change of financial guarantee liability. |
Summary of changes in provisions on unused loan commitments | 2) Provisions for unused loan commitment For the year ended December 31, 2019 Stage1 Stage2 Stage3 Total Beginning balance 74,624 45,285 1,626 121,535 Transfer to 12-month 11,771 (11,024 ) (747 ) — Transfer to expected credit loss for the entire period (1,813 ) 1,945 (132 ) — Transfer to credit-impaired financial assets (213 ) (275 ) 488 — Net provision (reversal) of unused amount (19,394 ) 7,233 3,117 (9,044 ) Others 63 — — 63 Ending balance 65,038 43,164 4,352 112,554 For the year ended December 31, 2020 Stage1 Stage2 Stage3 Total Beginning balance 65,038 43,164 4,352 112,554 Transfer to 12-month 8,006 (7,500 ) (506 ) — Transfer to expected credit loss for the entire period (2,704 ) 3,299 (595 ) — Transfer to credit-impaired financial assets (174 ) (186 ) 360 — Net provision (reversal) of unused amount (6,653 ) 16,949 (422 ) 9,874 Business combination 7 — — 7 Others (280 ) — — (280 ) Ending balance 63,240 55,726 3,189 122,155 For the year ended December 31, 2021 Stage1 Stage2 Stage3 Total Beginning balance 63,240 55,726 3,189 122,155 Transfer to 12-month 15,522 (14,965 ) (557 ) — Transfer to expected credit loss for the entire period (2,338 ) 3,129 (791 ) — Transfer to credit-impaired financial assets (110 ) (226 ) 336 — Net provision (reversal) of unused amount (9,005 ) 871 (1,857 ) (9,991 ) Others 131 1 — 132 Ending balance 67,440 44,536 320 112,296 |
Summary of changes in asset retirement obligation | (3) Changes in asset retirement obligation for the years ended December 31, 2019, 2020 and 2021 are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Beginning balance 67,200 66,485 68,402 Provisions provided 2,729 806 3,235 Provisions used (2,276 ) (2,958 ) (5,066 ) Reversal of provisions unused (2,926 ) (106 ) (947 ) Unwinding of discount 435 459 495 Business combination 329 219 — Increase (decrease) of restoration expense, etc. 994 3,497 14,658 Ending balance 66,485 68,402 80,777 |
Summary of changes in other obligation | (4) Changes in other provisions for the years ended December 31, 2019, 2020 and 2021 are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Beginning balance 63,637 172,455 221,494 Provisions provided 109,875 232,629 85,706 Provisions used (6,123 ) (181,433 ) (10,375 ) Reversal of provisions unused (171 ) (2,345 ) (718 ) Foreign currencies translation adjustments 1,193 606 11,957 Transfer — (344 ) — Business combination 3,820 — — Others 224 (74 ) 131 Ending balance 172,455 221,494 308,195 |
Net Defined Benefit Liability_2
Net Defined Benefit Liability (Asset) (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of defined benefit plans [abstract] | |
Summary of 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 1,610,680 1,618,098 Fair value of plan assets (1,564,101 ) (1,591,458 ) Net defined benefit liabilities (*) 46,579 26,640 (*) Net defined benefit liability of 46,579 million Won and 26,640 million Won as of December 31, 2020 and 2021 is the subtracted amount of the net defined benefit asset of 5,658 million Won and 21,346 million Won from the net defined benefit liability of 52,237 million Won and 47,986 million Won. |
Summary of 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 years ended December 31 2019 2020 2021 Beginning balance 1,275,020 1,442,859 1,610,680 Transfer-in 93 — — Current service cost 163,369 174,509 178,416 Interest cost 32,693 34,653 39,814 Remeasurements Financial assumption 32,831 (20,838 ) (92,367 ) Demographic assumptions 49,453 4,161 (251 ) Experience adjustment (33,518 ) (4,481 ) (12,155 ) Retirement benefit paid (79,908 ) (55,864 ) (106,050 ) Foreign currencies translation adjustments 179 (119 ) 165 Business combination 4,674 34,001 — Others (2,027 ) 1,799 (154 ) Ending balance 1,442,859 1,610,680 1,618,098 |
Summary of changes in the plan assets | (3) Changes in the plan assets are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Beginning balance 1,101,911 1,352,971 1,564,101 Transfer-in 93 — — Interest income 30,937 34,534 40,927 Remeasurements 125 (7,666 ) (15,022 ) Employer’s contributions 292,095 211,505 103,251 Retirement benefit paid (76,304 ) (52,627 ) (99,523 ) Business combination 6,369 27,599 — Others (2,255 ) (2,215 ) (2,276 ) Ending balance 1,352,971 1,564,101 1,591,458 |
Summary of fair value of plan assets | (4) Fair value of plan assets as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, December 31, Cash and due from banks 1,564,101 1,591,458 |
Summary of current service cost, net interest income, loss (gain) on the curtailment or settlement and remeasurements | (5) Amounts related to the defined benefit plan that are recognized in the consolidated statements of comprehensive income are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Current service cost 163,369 174,509 178,416 Net interest income (expense) 1,756 119 (1,113 ) Cost recognized in net income 165,125 174,628 177,303 Remeasurements (*) 48,641 (13,492 ) (89,751 ) Cost recognized in total comprehensive income 213,766 161,136 87,552 (*) Amount before tax Meanwhile, retirement benefits related to defined contribution plans recognized as expenses are 3,297 million Won, 3,827 million Won and 4,494 million Won for the years ended December 31, 2019, 2020 and 2021, respectively. |
Summary of 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, 2019 December 31, 2020 December 31, 2021 Discount rate 2.18 ~ 2.50% 2.13% ~ 2.97% 2.40% ~ 3.49% Future wage growth rate 1.89 ~ 6.00% 2.05% ~ 7.00% 2.03% ~ 5.56% 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 a minimum of 5.49 to a maximum 11.4 years. |
Summary of 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, 2020 December 31, 2021 Discount rate Increase by 1% point (165,754 ) (161,428 ) Decrease by 1% point 195,475 189,630 Future wage growth rate Increase by 1% point 193,149 188,392 Decrease by 1% point (167,037 ) (163,431 ) |
Other Financial Liabilities a_2
Other Financial Liabilities and Other Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Miscellaneous liabilities [abstract] | |
Schedule of miscellaneous other liabilities | Other financial liabilities and other liabilities are as follows (Unit: Korean Won in millions): December 31, 2020 December 31, Other financial liabilities: Accounts payable 4,028,639 7,031,366 Accrued expenses 2,049,401 2,070,639 Borrowings from trust accounts 2,984,031 3,107,456 Agency business revenue 466,485 433,041 Foreign exchange payables 789,189 782,176 Domestic exchange settlement credits 180,251 6,708,220 Lease liabilities 407,431 343,213 Other miscellaneous financial liabilities 3,317,358 3,772,437 Present value discount (6,968 ) (15,322 ) Sub-total 14,215,817 24,233,226 Other liabilities: Unearned income 254,702 291,147 Other miscellaneous liabilities 219,111 265,706 Sub-total 473,813 556,853 Total 14,689,630 24,790,079 |
Derivatives (Tables)
Derivatives (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of detailed information about hedges [abstract] | |
Summary Of Derivative Assets And Derivative Liabilities | (1) Derivative assets and derivative liabilities are as follows (Unit: Korean Won in millions): December 31, 2020 Assets Liabilities Nominal amount For cash For fair hedge For trading For cash For fair hedge For trading Interest rate: Futures 184,413 — — — — — — Swaps 137,057,240 — 174,820 318,545 1,476 28 524,190 Purchase options 330,000 — — 6,271 — — — Written options 285,440 — — — — — 5,419 Currency: Futures 2,546 — — — — — — Forwards 105,146,634 — — 2,541,957 — — 2,848,980 Swaps 87,249,320 — — 3,325,135 63,265 — 2,415,610 Purchase options 1,147,877 — — 59,329 — — — Written options 1,632,048 — — — — — 23,271 Equity: Futures 123,742 — — — — — — Forwards 11 — — — — — — Swaps 269,039 — — — — — 12,533 Purchase options 9,863,110 — — 650,505 — — — Written options 10,369,009 — — — — — 629,884 Total 353,660,429 — 174,820 6,901,742 64,741 28 6,459,887 December 31, 2021 Assets Liabilities Nominal amount For cash For fair hedge For trading For cash For fair hedge For trading Interest rate: Futures 118,423 — — — — — — Forwards 340,000 — — 16,434 — — — Swaps 134,196,188 351 95,103 136,185 — 20,287 305,443 Purchase options 170,000 — — 3,959 — — — Written options 340,000 — — — — — 8,552 Currency: Futures 7,445 — — — — — — Forwards 114,072,910 — — 2,466,893 — — 993,823 Swaps 101,117,559 11,310 — 1,444,634 7,297 — 2,345,735 Purchase options 1,079,610 — — 10,968 — — — Written options 1,686,787 — — — — — 8,952 Equity: Futures 337,916 — — — — — — Forwards 233 — — 64 — — — Swaps 642,963 — — 27,031 — — 3,784 Purchase options 17,503,553 — — 696,963 — — — Written options 19,106,573 — — — — — 900,979 Total 390,720,160 11,661 95,103 4,803,131 7,297 20,287 4,567,268 |
Summary Of The Nominal Amounts Of Hedging Instruments | (3) The nominal amounts of the hedging instrument are as follows (Unit: USD, AUD, EUR, SGD and Korean Won in millions): December 31, 2020 1 year or less 1 year to 5 More than 5 Total Fair value hedge Interest rate risk Interest rate swap (USD) 1,000,000,000 1,000,000,000 300,000,000 2,300,000,000 Interest rate swap (AUD) — 150,000,000 — 150,000,000 Cash flow hedge Interest rate risk Interest rate swap (KRW) 100,000 50,000 — 150,000 Foreign currencies translation risk and interest rate risk Currency swap (USD) 130,000,000 470,000,000 — 600,000,000 Foreign currencies translation risk Currency swap (SGD) 68,000,000 — — 68,000,000 December 31, 2021 1 year or less 1 year to 5 More than 5 Total Fair value hedge Interest rate risk Interest rate swap (USD) — 1,550,000,000 300,000,000 1,850,000,000 Interest rate swap (AUD) — 150,000,000 — 150,000,000 Interest rate swap (EUR) — 26,591,163 — 26,591,163 Cash flow hedge Interest rate risk Interest rate swap (KRW) — 50,000 — 50,000 Foreign currencies translation risk and interest rate risk Currency swap (USD) 200,000,000 270,000,000 — 470,000,000 Foreign currencies translation risk Currency swap (USD) — 180,000,000 — 180,000,000 |
Summary Of Average Interest And Currency Rate Of Hedging Instrument | (4) The average interest rate and average currency rate of the hedging instrument as of December 31, 2020 and 2021 are as follows: December 31, 2020 Average interest rate and average exchange rate Fair value hedge Interest rate risk Interest rate swap (USD) Fixed 4.22% receipt and Libor 3M+1.71% floating paid Fixed 5.88% receipt and Libor 6M+2.15% floating paid Interest rate swap (AUD) Fixed 0.84% receipt and BBSW 3M+0.72% paid Cash flow hedge Interest rate risk Interest rate swap (KRW) KRW 3Y CMS+0.40% receipt, 2.38% paid KRW CD+0.69% receipt, 2.06% paid KRW CD+0.33% receipt, 1.68% paid Foreign currencies translation risk and interest rate risk Currency swap (USD) USD 3M Libor+0.80% receipt, KRW 1.45% paid, USD/KRW = 1,155 Foreign currencies translation risk Currency swap (SGD) SGD 1.91% receipt, KRW 1.98% paid, SGD/KRW = 827 December 31, 2021 Average interest rate and average exchange rate Fair value hedge Interest rate risk Interest rate swap (USD) Fixed 3.62% receipt and Libor 3M + 1.45% floating paid Interest rate swap (AUD) Fixed 0.84% receipt and BBSW 3M+0.72% paid Interest rate swap (EUR) EURIBOR 3M + 0.09% receipt and 1.5% fixed paid Cash flow hedge Interest rate risk Interest rate swap (KRW) KRW CD+0.33% receipt, 1.68% paid Foreign currencies translation risk and interest rate risk Currency swap (USD) USD 1M Libor+0.70% receipt, KRW 0.93% paid, USD/KRW = 1,206.60 Foreign currencies translation risk Currency swap (USD) USD 1.50% receipt, KRW 1.57% paid, USD/KRW = 1,140.50 |
Summary Of Amounts Related To Items Designated As Hedging Instruments | (5) The amounts related to items designated as hedging instruments are as follows (Unit: USD, AUD, EUR, SGD and Korean Won in millions): December 31, 2020 Nominal amounts of Carrying amounts of Line item in the statement Changing in fair Assets Liabilities Fair value hedge Interest rate risk Interest rate swap USD 2,300,000,000 174,820 28 Derivative assets (designated for hedging) 57,221 Interest rate swap AUD 150,000,000 Derivative liabilities (designated for hedging) Cash flow hedge Interest rate risk Interest rate swap KRW 150,000 — 1,476 Derivative liabilities (designated for hedging) (196 ) Foreign currency translation risk and interest rate risk Currency swap USD 600,000,000 — 62,893 Derivative liabilities (designated for hedging) (69,319 ) Foreign currency translation risk Currency swap SGD 68,000,000 — 373 Derivative liabilities (designated for hedging) (4,699 ) December 31, 2021 Nominal amounts of Carrying amounts of Line item in the statement Changing in fair Assets Liabilities Fair value hedge Interest rate risk Interest rate swap USD 1,850,000,000 95,086 20,287 Derivative assets (designated for hedging) Derivative liabilities (designated for hedging) (83,821 ) Interest rate swap AUD 150,000,000 Interest rate swap EUR 26,591,163 17 — 17 Cash flow hedge Interest rate risk Interest rate swap KRW 50,000 351 — Derivative liabilities (designated for hedging) 1,896 Foreign currency translation risk and interest rate risk Currency swap USD 470,000,000 3,631 7,297 Derivative liabilities (designated for hedging) 60,564 Foreign currency translation risk Currency swap USD 180,000,000 7,679 — Derivative liabilities (designated for hedging) 8,218 |
Summary OF Carrying Amounts Of Hedged Item And Amount Of Hedge Adjustments Due To Hedge Accounting | (6) Details of carrying amount to hedge and amount due to hedge accounting are as follows (Unit: Korean Won in millions): December 31, 2020 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 Debentures — 2,767,208 — 144,741 Debentures (59,073 ) — Cash flow hedge Interest rate risk Debentures — 149,936 — — Debentures 188 (909 ) Foreign currencies translation risk and interest rate risk Debentures — 651,704 — — Debentures 61,823 (95 ) Foreign currencies translation risk Debentures — 55,891 — — Debentures 6,564 (268 ) (*) After tax amount December 31, 2021 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 Debentures — 2,366,724 — 53,160 Debentures 100,343 — Foreign currency borrowing — 35,694 — — Foreign (17 ) (17 ) Cash flow hedge Interest rate risk Debentures — 49,977 — — Debentures (1,760 ) 281 Foreign currencies translation risk and interest rate risk Debentures — 556,607 — — Debentures (53,832 ) 5,859 Foreign currencies translation risk Debentures — 212,715 — — Debentures (7,609 ) (305 ) (*) After tax amount |
Summary 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): For the year ended December 31, 2019 Hedge ineffectiveness Line item in the profit or loss that Fair value hedge Interest rate risk 4,260 Other net operating income (expense) For the year ended December 31, 2020 Hedge ineffectiveness Line item in the profit or loss that Fair value hedge Interest rate risk (1,852 ) Other net operating income (expense) For the year ended December 31, 2021 Hedge ineffectiveness Line item in the profit or loss that Fair value hedge Interest rate risk 16,522 Other net operating income (expense) |
Summary 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 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2019 Changes in Hedge Changes Line item Amounts Line item Cash flow hedge Interest rate risk (658 ) — — Other net operating income (expense) — Other net operating income (expense) Foreign currencies translation risk and interest rate risk 21,420 944 838 Other net operating income (expense) (23,541 ) Other net operating income (expense) Foreign currencies translation risk 7,638 1,601 560 Other net operating income (expense) (8,215 ) Other net operating income (expense) For the year ended December 31, 2020 Changes in Hedge Changes Line item Amounts Line item Cash flow hedge Interest rate risk (122 ) (74 ) — Other net operating income (expense) — Other net operating income (expense) Foreign currencies translation risk and interest rate risk (68,270 ) (1,049 ) 5,893 Other net operating income (expense) 64,762 Other net operating income (expense) Foreign currencies translation risk (3,677 ) (1,022 ) 320 Other net operating income (expense) 5,393 Other net operating income (expense) For the year ended December 31, 2021 Changes in Hedge Changes Line item Amounts Line item Cash flow hedge Interest rate risk 1,641 256 — Other net — Other net Foreign currencies translation risk and interest rate risk 60,394 169 (2,300 ) Other net (52,126 ) Other net Foreign currencies translation risk 8,476 (258 ) 416 Other net (9,045 ) Other net |
Deferred Day 1 Profits Or Los_2
Deferred Day 1 Profits Or Losses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Day One Profit Or Loss [Abstract] | |
Summary Of Changes in 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 2019 2020 2021 Beginning balance 25,463 52,259 6,939 New transactions 53,289 22,901 49,523 Amounts recognized in losses (26,493 ) (68,221 ) (27,351 ) Ending balance 52,259 6,939 29,111 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 . |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Equity [Abstract] | |
Summary of Equity | (1) Details of equity as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, 2020 December 31, 2021 Capital Common stock capital 3,611,338 3,640,303 Hybrid securities 1,895,366 2,294,381 Capital surplus Paid in capital in excess of par 608,348 643,544 Others 17,763 38,841 Sub-total 626,111 682,385 Capital adjustments Treasury stocks — (3,819 ) Other adjustments (*1) (1,775,312 ) (1,747,242 ) Sub-total (1,775,312 ) (1,751,061 ) Accumulated other comprehensive income Financial assets at FVTOCI (9,833 ) (162,522 ) Changes in capital due to equity method (2,609 ) (138 ) Loss from foreign business translation (298,363 ) (63,781 ) Remeasurements of defined benefit plan (261,195 ) (195,944 ) Loss on evaluation of cash flow hedge (1,386 ) 5,553 Capital related to noncurrent assets held for sale 1,226 279 Sub-total (572,160 ) (416,553 ) Retained earnings (*2)(*3) 19,268,265 21,347,472 Non-controlling (*4) 3,672,237 3,008,176 Total 26,725,845 28,805,103 (*1) Included 178,060 million Won in capital transaction gains and losses recognized by Woori Bank and (formerly) Woori Financial Group in 2014 and 2,238,228 million Won due to the spin-off (*2) The regulatory reserve for credit losses (*3) The earned surplus reserve in retained earnings amounted to 62,830 million Won and 122,370 million Won as of December 31, 2020 and 2021 in accordance with the Article 53 of the Financial Holding Company Act. (*4) The hybrid securities issued by Woori Bank amounting to 3,105,070 million Won and 2,555,166 million Won as of December 31, 2020 and 2021, respectively, are recognized as non-controlling non-controlling |
Summary of Authorized Shares And Others | (2) The number of authorized shares and others of the Group are as follows: December 31, 2020 December 31, 2021 Shares of common stock authorized 4,000,000,000 Shares 4,000,000,000 Shares Par value 5,000 Won 5,000 Won Shares of common stock issued 722,267,683 Shares 728,060,549 Shares Capital stock 3,611,338 million Won 3,640,303 million Won |
Hybrid Securities | (4) 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, 2020 December 31, Securities in local currency 2019-07-18 — 3.49 500,000 500,000 Securities in local currency 2019-10-11 — 3.32 500,000 500,000 Securities in local currency 2020-02-06 — 3.34 400,000 400,000 Securities in local currency 2020-06-12 — 3.23 300,000 300,000 Securities in local currency 2020-10-23 — 3.00 200,000 200,000 Securities in local currency 2021-04-08 — 3.15 — 200,000 Securities in local currency 2021-10-14 — 3.60 — 200,000 Issuance cost (4,634 ) (5,619 ) Total 1,895,366 2,294,381 The hybrid securities mentioned above do not have maturity date but are redeemable after 5 years from date of issuance. |
Changes in the accumulated other comprehensive income or loss | (5) Accumulated other comprehensive income Changes in the accumulated other comprehensive income are as follows (Unit: Korean Won in millions): For the year ended December 31, 2019 Beginning Increase (decrease) (*) Reclassification Income tax Ending balance Net gain (loss) on valuation of financial assets at FVTOCI (87,182 ) (24,180 ) 43,021 (3,573 ) (71,914 ) Changes in capital due to equity method 302 (1,420 ) — 2,033 915 Gain (loss) on foreign currency translation of foreign operations (244,735 ) 96,157 — (4,409 ) (152,987 ) Remeasurement gain (loss) related to defined benefit plan (236,726 ) (48,244 ) — 13,993 (270,977 ) Gain (loss) on valuation of derivatives designated as cash flow hedges (3,869 ) (32,719 ) 31,756 (860 ) (5,692 ) Total (572,210 ) (10,406 ) 74,777 7,184 (500,655 ) (*) The increase and decrease of financial asset valuation profit or loss at fair value through other comprehensive income is a change due to the period evaluation and the reclassification adjustments amounting to 29,368 million Won are due to disposal of equity securities during the period. For the year ended December 31, 2020 Beginning Increase (*) Reclassification Classified Income tax Ending balance Net gain (loss) on valuation of financial assets at FVTOCI (71,914 ) 115,167 (30,643 ) — (22,443 ) (9,833 ) Changes in capital due to equity method 915 (3,171 ) — (1,691 ) 1,338 (2,609 ) Gain (loss) on foreign currency translation of foreign operations (152,987 ) (152,486 ) — — 7,110 (298,363 ) Remeasurement gain (loss) related to defined benefit plan (270,977 ) 13,492 — — (3,710 ) (261,195 ) Gain (loss) on valuation of derivatives designated as cash flow hedges (5,692 ) 4,568 — — (262 ) (1,386 ) Capital related to noncurrent assets held for sale — — — 1,691 (465 ) 1,226 Total (500,655 ) (22,430 ) (30,643 ) — (18,432 ) (572,160 ) (*) The increase and decrease of financial asset valuation profit or loss at fair value through other comprehensive income is a change due to the period evaluation and the reclassification adjustments amounting to 2,664 million won are due to disposal of equity securities during the period. For the year ended December 31, 2021 Beginning Increase (*) Reclassification Income tax Ending balance Net gain (loss) on valuation of financial assets at FVTOCI (9,833 ) (174,113 ) (32,624 ) 54,048 (162,522 ) Changes in capital due to equity method (2,609 ) 3,885 — (1,414 ) (138 ) Gain (loss) on foreign currency translation of foreign operations (298,363 ) 239,614 — (5,032 ) (63,781 ) Remeasurement gain (loss) related to defined benefit plan (261,195 ) 90,337 — (25,086 ) (195,944 ) Gain (loss) on valuation of derivatives designated as cash flow hedges (1,386 ) 6,416 1,221 (698 ) 5,553 Capital related to noncurrent assets held for sale 1,226 (1,306 ) — 359 279 Total (572,160 ) 164,833 (31,403 ) 22,177 (416,553 ) (*) The increase(decrease) of financial asset valuation profit or loss at fair value through other comprehensive income and non-current assets held for sale are changes due to the period evaluation, and the reclassification adjustments amounting to (2,220) million Won, 946 million Won and (947) million Won are due to disposal of equity securities, equity method investments and non-current assets held for sale, respectively during the period. |
Summary of Treasury Stocks | (6) Treasury stock Details of treasury stocks are as follows (Unit: Shares, Korean Won in millions): December 31, 2020 December 31, 2021 Number of Book value Number Book value Beginning balance 2 — 2 — Acquisition — — 343,989 3,819 Disposal — — — — Ending balance 2 — 343,991 3,819 |
Net Interest Income (Tables)
Net Interest Income (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Interest Revenue (Expense), Net [Abstract] | |
Summary of Interest Income | (1) Interest income recognized is as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Financial assets at FVTPL 50,619 48,612 45,803 Financial assets at FVTOCI 474,751 437,527 381,814 Financial assets at amortized cost Loans and other financial assets at amortized cost Interest on due from banks 141,330 53,586 46,600 Interest on loans 9,443,740 8,570,173 9,065,074 Interest of other receivables 29,990 30,967 30,538 Sub-total 9,615,060 8,654,726 9,142,212 Securities at amortized cost 436,340 382,988 324,920 Sub-total 10,051,400 9,037,714 9,467,132 Total 10,576,770 9,523,853 9,894,749 |
Summary of Interest Expense | (2) Details of interest expense recognized are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Interest on deposits due to customers 3,424,441 2,486,523 1,906,858 Interest on borrowings 383,213 269,985 219,994 Interest on debentures 777,322 722,551 727,093 Other interest expense 89,002 36,964 47,647 Interest on lease liabilities 9,086 9,318 7,436 Total 4,683,064 3,525,341 2,909,028 |
Net Fees and Commissions Inco_2
Net Fees and Commissions Income (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Fee and commission income (expense) [abstract] | |
Schedule of fee and commission income | (1) Details of fees and commissions income recognized are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Fees and commission received for brokerage 156,578 162,653 182,794 Fees and commission received related to credit 189,597 195,391 197,125 Fees and commission received for electronic finance 137,289 125,107 131,941 Fees and commission received on foreign exchange handling 61,756 55,984 56,210 Fees and commission received on foreign exchange 92,408 69,017 73,894 Fees and commission received for guarantee 71,106 74,647 76,428 Fees and commission received on credit card 548,580 507,852 573,048 Fees and commission received on securities business 113,346 79,606 100,991 Fees and commission from trust management 180,290 160,564 216,203 Fees and commission received on credit information 12,626 13,254 10,220 Fees and commission received related to lease 4,753 84,164 374,900 Other fees 140,997 165,777 177,951 Total 1,709,326 1,694,016 2,171,705 |
Schedule of fee and commission expense | (2) Details of fees and commissions expense incurred are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Fees and commissions paid 189,789 246,824 261,734 Credit card commission 407,689 424,316 425,796 Brokerage commission 775 551 1,605 Others 8,445 8,286 11,795 Total 606,698 679,977 700,930 |
Dividend Income (Tables)
Dividend Income (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Revenue From Dividends [Abstract] | |
Schedule of revenue from dividends | (1) Details of dividend income recognized are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Dividend income related to financial assets at FVTPL 86,979 120,158 284,683 Dividend income related to financial assets at FVTOCI 20,980 18,385 24,528 Total 107,959 138,543 309,211 |
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 years ended December 31 2019 2020 2021 Dividend income recognized from assets held: Equity securities 20,980 18,385 24,528 |
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 (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of gains (losses) on financial instruments at fair value through profit or loss [Abstract] | |
Summary of Gains or losses related to financial instruments at FVTPL | (1) Details of gains or losses related to net gain or loss on financial instruments at FVTPL are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Gain on financial instruments at fair value through profit or loss measured at fair value 58,692 422,374 325,649 Gain (loss) on financial instruments at fair value through profit or loss designated as upon initial recognition (33,237 ) (665 ) 102 Total 25,455 421,709 325,751 |
Summary of Gains or losses on financial instruments at fair value through profit or loss and financial instruments held for trading | (2) Details of net gain or loss on financial instruments at fair value through profit or loss measured at fair value are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Financial assets at FVTPL Securities Gain on transactions and valuation 186,394 142,551 249,803 Loss on transactions and valuation (80,306 ) (122,506 ) (197,172 ) Sub-total 106,088 20,045 52,631 Loans Gain on transactions and valuation 1,556 15,299 24,674 Loss on transactions and valuation (21 ) (8,087 ) (6,770 ) Sub-total 1,535 7,212 17,904 Other financial assets Gain on transactions and valuation 3,963 10,902 17,034 Loss on transactions and valuation (3,570 ) (10,257 ) (12,370 ) Sub-total 393 645 4,664 Sub-total 108,016 27,902 75,199 Derivatives (Held for trading) Interest rate derivatives Gain on transactions and valuation 1,507,254 1,727,585 2,020,004 Loss on transactions and valuation (1,615,833 ) (1,998,824 ) (1,746,752 ) Sub-total (108,579 ) (271,239 ) 273,252 Currency derivatives Gain on transactions and valuation 6,872,513 12,562,354 9,685,798 Loss on transactions and valuation (6,855,447 ) (11,906,353 ) (9,715,260 ) Sub-total 17,066 656,001 (29,462 ) Equity derivatives Gain on transactions and valuation 839,196 1,835,497 1,754,671 Loss on transactions and valuation (796,336 ) (1,825,372 ) (1,744,294 ) Sub-total 42,860 10,125 10,377 Other derivatives Gain on transactions and valuation 695 — 64 Loss on transactions and valuation (1,366 ) (415 ) (3,781 ) Sub-total (671 ) (415 ) (3,717 ) Sub-total (49,324 ) 394,472 250,450 Total 58,692 422,374 325,649 |
Summary of Gains or losses on financial instruments at fair value through profit or loss designated as upon initial recognition | (3) Details of net gain (loss) on financial instruments at fair value through profit or loss designated as upon initial recognition are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Gain (loss) on equity-linked securities (33,237 ) (665 ) 102 |
Net gain or loss on financial_3
Net gain or loss on financial assets at FVTOCI (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Gains (losses) on financial assets at fair value through other comprehensive income [Abstract] | |
Summary Of Gain or Loss On Financial Assets At FVTOCI Recognized Net | Details of net gain or loss on financial assets at FVTOCI recognized are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Gain on redemption of securities 15 (57 ) (23 ) Gain on transaction of securities 11,000 24,195 32,647 Total 11,015 24,138 32,624 |
Reversal of (provision for) i_2
Reversal of (provision for) impairment losses due to credit loss (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of impairment loss and reversal of impairment loss [abstract] | |
Reversal of (provision for) Impairment Losses due to Credit Loss | Reversal of (provision for) impairment losses due to credit loss are as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Impairment loss due to credit losses on financial assets measured at FVTOCI (3,297 ) (1,529 ) (4,909 ) Reversal of (provision for) impairment loss due to credit losses on securities at amortized cost 1,415 934 (664 ) Provision for impairment loss due to credit losses on loan and other financial assets at amortized cost (385,758 ) (792,250 ) (551,957 ) Reversal of provision on guarantee 4,352 18,348 10,701 Reversal of (provision for) unused loan commitment 9,044 (9,874 ) 9,991 Total (374,244 ) (784,371 ) (536,838 ) |
General administrative expens_2
General administrative expenses and other operating incomes (expenses) (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of general administrative expenses and other operating income (expenses) [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 2019 2020 2021 Employee benefits Short-term employee benefits Salaries 1,584,791 1,638,341 1,775,018 Employee fringe benefits 475,238 506,048 545,534 Share based payment 6,328 7,495 17,774 Retirement benefit service costs 168,423 178,455 181,797 Termination 156,441 202,259 180,872 Sub-total 2,391,221 2,532,598 2,700,995 Depreciation and amortization 481,176 520,969 524,154 Other general and administrative expenses Rent 85,705 78,707 83,879 Taxes and public dues 137,137 129,904 135,015 Service charges 235,117 244,825 231,852 Computer and IT related 93,573 108,810 117,875 Telephone and communication 70,220 72,711 79,145 Operating promotion 45,594 45,891 44,248 Advertising 85,887 94,880 101,384 Printing 7,845 6,954 6,449 Traveling 13,255 7,263 7,449 Supplies 7,736 12,127 7,642 Insurance premium 9,668 10,805 10,692 Reimbursement 23,577 16,500 13,483 Maintenance 18,495 18,367 20,808 Water, light and heating 15,272 14,993 14,520 Vehicle maintenance 10,564 10,225 11,590 Others 34,035 29,652 36,231 Sub-total 893,680 902,614 922,262 Total 3,766,077 3,956,181 4,147,411 |
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 2019 2020 2021 Gain on transactions of foreign exchange 602,115 758,347 562,935 Gain related to derivatives (Designated for hedging) 126,651 67,395 61,271 Gain on fair value hedged items 231 9,646 106,253 Others 45,706 63,702 172,044 Total 774,703 899,090 902,503 |
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 2019 2020 2021 Losses on transactions of foreign exchange 192,331 679,350 450,698 KDIC deposit insurance premium 333,600 371,054 406,276 Contribution to miscellaneous funds 317,667 327,911 367,961 Losses related to derivatives (Designated for hedging) 3,686 82,746 93,084 Losses on fair value hedged items 86,214 68,508 1,947 Others ( * 143,786 189,959 469,938 Total 1,077,284 1,719,528 1,789,904 (*) Other expense includes 22,317 million Won, 11,890 million Won and 13,963 million Won for intangible asset amortization cost for the years ended December 31, 2019, 2020 and 2021 respectively. In addition, it includes 52,504 million Won and 250,971 million Won for lease depreciation cost for the years ended December 31, 2020 and 2021, respectively. |
Performance condition share-based payment granted to executives | 1) Performance condition share-based payment Subject to Shares granted for the year 2019 Type of payment Cash-settled Vesting period January 1, 2019 ~ December 31, 2022 Date of payment 2023-01-01 Fair value (*1) 12,527 Won Valuation method Black-Scholes Model Expected dividend rate 4.28% Expected maturity date 1 year Number of shares remaining As of December 31, 2020 602,474 shares As of December 31, 2021 602,474 shares Number of shares granted (*2) As of December 31, 2020 602,474 shares As of December 31, 2021 602,474 shares Subject to Shares granted for the year 2020 Type of payment Cash-settled Vesting period January 1, 2020 ~ December 31, 2023 Date of payment 2024-01-01 Fair value (*1) 12,003 Won Valuation method Black-Scholes Model Expected dividend rate 4.28% Expected maturity date 2 years Number of shares remaining As of December 31, 2020 944,343 shares As of December 31, 2021 944,343 shares Number of shares granted (*2) As of December 31, 2020 944,343 shares As of December 31, 2021 944,343 shares Subject to Shares granted for the year 2021 Type of payment Cash-settled Vesting period January 1, 2021 ~ December 31, 2024 Date of payment 2025-01-01 Fair value (*1) 11,501 Won Valuation method Black-Scholes Model Expected dividend rate 4.28% Expected maturity date 3 years Number of shares remaining As of December 31, 2020 — As of December 31, 2021 1,105,515 shares Number of shares granted (*2) As of December 31, 2020 — As of December 31, 2021 1,105,515 shares (*1) As the amount of payment varies according to the base price (the arithmetic average of the weighted average stock price of transactions in the past one week, the past one month, and the past two months) at the date of payment, the fair value is calculated to measure the liability according to the Black Scholes model based on the base price at the time of each settlement. (*2) It is a system in which the amount of stock payable is determined at the beginning, and the payment rate is determined in accordance with the degree of achievement of the pre-set non-performing 2) The Group accounts for performance condition share-based payments according to the cash-settled method and the fair value of the liabilities is reflected in the compensation costs by re-measuring |
Non-operating income (expense_2
Non-operating income (expenses) (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Nonoperating 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 2019 2020 2021 Gains on valuation of investments in joint ventures and associates 103,775 125,602 80,268 Reversal of impairment losses of investments in joint ventures and associates — — 1,744 Losses on valuation of investments in joint ventures and associates (16,144 ) (23,283 ) (7,405 ) Impairment losses of investments in joint ventures and associates (3,634 ) (1,242 ) (12,411 ) Total 83,997 101,077 62,196 |
Details of other non-operating income and expenses | (2) Details of other non-operating For the years ended December 31 2019 2020 2021 Other non-operating 68,459 133,195 188,129 Other non-operating (229,383 ) (313,415 ) (223,029 ) Total (160,924 ) (180,220 ) (34,900 ) |
Details of other non-operating income | (3) Details of other non-operating For the years ended 2019 2020 2021 Rental fee income 10,106 15,190 15,056 Gains on disposal of investments in joint ventures and associates — 3,470 70,834 Gains on disposal of premises and equipment, intangible assets and other assets 1,632 9,715 51,083 Reversal of impairment loss of premises and equipment, intangible assets and other assets 103 172 166 Others (*) 56,618 104,648 50,990 Total 68,459 133,195 188,129 (*) Included 67,427 million Won of profit from bargain purchase for the year ended December 31, 2020. |
Details of other non-operating expenses | (4) Details of other non-operating For the years ended December 31 2019 2020 2021 Depreciation on investment properties 2,225 2,689 2,809 Operating expenses on investment properties 834 762 1,174 Losses on disposal of investment in joint ventures and associates — — 174 Losses on disposal of premises and equipment, intangible assets and other assets 3,433 2,717 3,354 Impairment losses of premises and equipment, intangible assets and other assets 28,295 8,763 656 Donation 62,545 44,504 39,335 Others (* 132,051 253,980 175,527 Total 229,383 313,415 223,029 (*) Ot h i Won of other extraordinary losses related to other provisions or accounts payable |
Income Tax Expense (Tables)
Income Tax Expense (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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 2019 2020 2021 Current tax expense Current tax expense with respect to the current period 612,680 501,223 884,843 Adjustments recognized in the current period in relation to the tax expense of prior periods (65,227 ) 4,914 2,074 Sub-total 547,453 506,137 886,917 Deferred tax expense Change in deferred tax assets (liabilities) due to temporary differences 130,816 (1,702 ) 15,672 Income tax expense (income) directly attributable to equity 7,184 (18,433 ) 22,177 Sub-total 138,000 (20,135 ) 37,849 Income tax expense 685,453 486,002 924,766 |
Income tax expense reconciled to net income before income tax expense | (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 2019 2020 2021 Net income before income tax expense 2,723,049 2,001,251 3,687,045 Tax calculated at statutory tax rate (*) 738,476 514,456 942,991 Adjustments: Effect of income that is exempt from taxation (61,730 ) (42,440 ) (41,335 ) Effect of expenses that are not deductible in determining taxable income 31,549 19,451 18,933 Adjustments recognized in the current period in relation to the current tax of prior periods (65,227 ) 4,914 3,078 Others 42,385 (10,379 ) 1,099 Sub-total (53,023 ) (28,454 ) (18,225 ) Income tax expense 685,453 486,002 924,766 Effective tax rate 25.2 % 24.3 % 25.08 % (*) 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 for the years ended December 31, 2019, 2020 and 2021, are as follows (Unit: Korean Won in millions): For the year ended December 31, 2019 Beginning Business Recognized Recognized as (*2) Ending Balance Gain (loss) on financial assets 372,346 1,360 (91,781 ) (3,573 ) 278,352 Gain (loss) on valuation using the equity method of accounting 28,354 90 (17,648 ) (83 ) 10,713 Gain (loss) on valuation of derivatives (27,507 ) 6 (48,217 ) 306 (75,412 ) Accrued income (55,846 ) (52 ) (10,486 ) — (66,384 ) Provision for loan losses (52,345 ) — (366 ) — (52,711 ) Loan and receivables written off 6,672 — 221 — 6,893 Loan origination costs and fees (154,431 ) — (8,011 ) — (162,442 ) Defined benefit liability 360,087 1,131 21,234 13,850 396,302 Deposits with employee retirement insurance trust (318,330 ) (1,131 ) (62,458 ) 143 (381,776 ) Provision for guarantee 11,374 — (3,459 ) — 7,915 Other provision 75,194 76 10,958 2,228 88,456 Others (*1) (204,083 ) (6,927 ) 72,013 (5,687 ) (144,684 ) Net deferred tax assets 41,485 (5,447 ) (138,000 ) 7,184 (94,778 ) (*1) Among the deferred tax assets and liabilities classified as ‘Others,’ the deferred tax asset arising from unused tax losses amounts to 21,656 million Won. (*2) Includes 2,737 million Won presented on non-controlling For the year ended December 31, 2020 Beginning Business Recognized Recognized as Ending Balance Gain (loss) on financial assets 278,352 2,243 19,121 (23,221 ) 276,495 Gain on valuation using the equity method of accounting 10,713 — 21,499 1,385 33,597 Gain (loss) on valuation of derivatives (75,412 ) 675 (67,423 ) (192 ) (142,352 ) Accrued income (66,384 ) (4,392 ) 4,548 — (66,228 ) Provision for loan losses (52,711 ) 2,201 4,015 — (46,495 ) Loan and receivables written off 6,893 — 1,328 — 8,221 Loan origination costs and fees (162,442 ) (14,131 ) 6,377 — (170,196 ) Defined benefit liability 396,302 7,923 41,186 (3,404 ) 442,007 Deposits with employee retirement insurance trust (381,776 ) (6,369 ) (36,858 ) 97 (424,906 ) Provision for guarantee 7,915 3,441 (1,871 ) — 9,485 Other provision 88,456 — (3,283 ) — 85,173 Others ( * (144,684 ) (12,678 ) 31,494 6,904 (118,964 ) Net deferred tax assets (94,778 ) (21,087 ) 20,133 (18,431 ) (114,163 ) (*) Among the deferred tax assets and liabilities classified as ‘Others,’ the deferred tax asset arising from unused tax losses amounts to 24,059 million Won. For the year ended December 31, 2021 Beginning Recognized Recognized as Ending Balance Gain (loss) on financial assets 276,495 (57,187 ) 54,048 273,356 Gain on valuation using the equity method of accounting 33,597 (17,282 ) (1,055 ) 15,260 Gain (loss) on valuation of derivatives (142,352 ) (6,755 ) (698 ) (149,805 ) Accrued income (66,228 ) (16,254 ) — (82,482 ) Provision for loan losses (46,495 ) 11,870 — (34,625 ) Loan and receivables written off 8,221 23 — 8,244 Loan origination costs and fees (170,196 ) (24,267 ) — (194,463 ) Defined benefit liability 442,007 32,890 (25,282 ) 449,615 Deposits with employee retirement insurance trust (424,906 ) (7,291 ) 196 (432,001 ) Provision for guarantee 9,485 (2,061 ) — 7,424 Other provision 85,173 15,398 — 100,571 Others (*) (118,964 ) 24,193 (5,032 ) (99,803 ) Net deferred tax assets (114,163 ) (46,723 ) 22,177 (138,709 ) (*) Among the deferred tax assets and liabilities classified as ‘Others,’ the deferred tax asset arising from unused tax losses amounts to 8,838 million Won. |
Unrealizable temporary differences | (4) Unrealizable temporary differences are as follows (Unit: Korean Won in millions): December 31, 2020 December 31, 2021 Deductible temporary differences 327,139 303,067 Tax loss carry forward 97,898 63,908 Taxable temporary differences (10,409,344 ) (8,025,672 ) Total (9,984,307 ) (7,658,697 ) |
Expected extinctive date of tax loss carry forward that are not recognized as deferred tax assets | As of December 31, 2021, 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 14,688 33,464 12,199 3,557 |
Accumulated deferred tax charged directly to other equity | (5) Details of accumulated deferred tax charged directly to other equity are as follows (Unit: Korean Won in millions): December 31, December 31, Gain on valuation of financial assets at FVTOCI 4,628 58,677 Gain on valuation of equity method investments 3,133 2,078 Gain on foreign currency translation of foreign operations 10,883 5,689 Remeasurements of the net defined benefit liability 101,128 74,790 Gain on derivatives designated as cash flow hedge 556 (843 ) Total 120,328 140,391 |
Current tax assets and liabilities | (6) Current tax assets and liabilities are as follows (Unit: Korean Won in millions): December 31, December 31, Current tax assets 75,655 22,598 Current tax liabilities 370,718 584,491 |
Earnings per Share (Tables)
Earnings per Share (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Earnings per share [abstract] | |
Summary Of Earnings Per Share | (1) 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 2019 2020 2021 Net income attributable to common shareholders 1,872,207 1,307,266 2,542,844 Dividends to hybrid securities (4,362 ) (48,915 ) (66,250 ) Net income attributable to common shareholders 1,867,845 1,258,351 2,476,594 Weighted average number of common shares outstanding (Unit: million shares) 685 722 724 Basic EPS (Unit: Korean Won) 2,727 1,742 3,419 |
Schedule Of Weighted Average Number Of Shares | (2) The weighted average number of common shares outstanding is as follows (Unit: number of shares, days): For the year ended December 31, 2020 Period Number of Dates Accumulated Common shares issued at the beginning of the period 2020-01-01 2020-12-31 722,267,683 366 264,349,971,978 Treasury stock 2020-01-01 2020-12-31 (2 ) 366 (732 ) Sub-total 264,349,971,246 Weighted average number of common shares outstanding (②=(①/366) 722,267,681 For the year ended December 31, 2021 Period Number of Dates Accumulated Common shares issued at the beginning of the period 2021-01-01 2021-12-31 722,267,683 365 263,627,704,295 Treasury stocks 2021-01-01 2021-12-31 (2 ) 365 (730 ) Issuance of new shares (comprehensive share exchange) 2021-08-10 2021-12-31 5,792,866 144 834,172,704 Acquisition of treasury stocks 2021-08-10 2021-12-31 (343,989 ) 144 (49,534,416 ) Sub-total 264,412,341,853 Weighted average number of common shares outstanding (②=(①/365) 724,417,375 |
Contingent Liabilities and Co_2
Contingent Liabilities and Commitments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of contingent liabilities [abstract] | |
Details of guarantees | (1) Details of guarantees are as follows (Unit: Korean Won in millions): December 31, 2020 December 31, 2021 Confirmed guarantees Guarantee for loans 103,229 38,897 Acceptances 602,014 622,758 Guarantees in acceptances of imported goods 78,395 111,195 Other confirmed guarantees 6,491,608 7,215,557 Sub-total 7,275,246 7,988,407 Unconfirmed guarantees Local letters of credit 187,146 243,072 Letters of credit 3,025,923 3,186,513 Other unconfirmed guarantees 403,652 778,088 Sub-total 3,616,721 4,207,673 Commercial paper purchase commitments and others 917,489 791,729 Total 11,809,456 12,987,809 (*) Includes financial guarantees of million Won as of December 31, 2020 and December 31, 2021, respectively. |
Disclosure of commitments | (2) Details of unused loan commitments and others are as follows (Unit: Korean Won in millions): December 31, December 31, Loan commitments 112,088,680 114,414,462 Other commitments (*) 7,827,774 5,652,557 (*) As of December 31, 2020 and 2021, the amount of unsecured bills (purchase note sales) and discounts on electronic short-term bond sales (purchase) are 2,894,688 million Won and 2,225,226 million Won, respectively. |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of transactions between related parties [abstract] | |
Summary Of Assets And Liabilities From Transactions With Related Parties | (1) Assets and liabilities from transactions with related parties are as follows (Unit: Korean Won in millions): Related parties Account title December 31, 2020 December 31, 2021 Associates W Service Networks Co., Ltd. Loans 21 20 Deposits due to customers 2,183 2,832 Accrued expenses 6 6 Other liabilities 459 425 Korea Credit Bureau Co., Ltd. Loans 1 2 Deposits due to customers 2,311 1,557 Other liabilities 5 — Korea Finance Security Co., Ltd. Loans 3,440 3,425 Allowance for credit losses (6 ) (6 ) Deposits due to customers 1,927 1,887 Other liabilities 1 2 Chin Hung International Inc. Loans 257 — Allowance for credit losses (3 ) — Deposits due to customers 8,715 — Other liabilities 171 — LOTTE CARD Co. Ltd. Loans 7,500 3,750 Allowance for credit losses (77 ) (39 ) Other assets 12 10 Deposits due to customers 2,697 13,482 Other liabilities 113 91 K BANK Co., Ltd. Loans 104 99 Account receivables 26 29 Other assets 3,835 — Other liabilities 808 84,935 Related parties Account title December 31, 2020 December 31, 2021 Well to Sea No.3 Private Equity Fund Deposits due to customers 4,997 — Others (*1) Loans 44,036 73,940 Allowance for credit losses (126 ) (124 ) Other assets 651 739 Deposits due to customers 5,831 1,063 Other liabilities 5 3 (*1) Others include IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership, Woori Growth Partnerships New Technology Private Equity Fund, Partner One Value Up I Private Equity Fund and etc., as of December 31, 2020 and 2021. |
Gain Or Loss From Transactions With Related Parties | (2) Gain or loss from transactions with related parties are as follows (Unit: Korean Won in millions): For the years ended Related parties Account title 2019 2020 2021 Associates W Service Network Co., Ltd. Other income 32 32 30 Interest expenses 20 13 7 Fees expenses 448 525 612 Reversal of allowance for credit losses (3 ) (4 ) — Other expenses 1,423 2,174 1,878 Korea Credit Bureau Co., Ltd. Interest expenses 29 5 4 Fees expenses 2,608 3,155 3,503 Other expenses — — 68 Korea Finance Security Co., Ltd. Interest income — 70 80 Interest expenses 9 3 2 Provision of allowance for credit losses 8 3 1 Other expenses 112 100 92 Chin Hung International Inc. Interest expenses 35 19 — Provision (Reversal) of allowance for credit losses 44 (145 ) — LOTTE CARD Co., Ltd. Interest income 213 311 196 Fees income 593 2,748 10,248 Interest expenses 53 68 462 Provision (Reversal) of allowance for credit losses 30 171 (59 ) K BANK Co., Ltd. Fees income 1,468 1,763 1,952 Fees expenses — — 636 Well to Sea No.3 Private Equity Fund Interest income 1,774 1,883 — Interest expenses 11 5 — Reversal of allowance for credit loss (18 ) (55 ) — Others (*1)(*2) Interest income — — 679 Fees income 1,281 2,677 5,546 Dividends income — 52 — Other income 17 16 — Interest expenses 55 28 17 Reversal of allowance for credit loss (5 ) — (2 ) (*1) Others include Saman Corporation, Woori-Shinyoung Growth-Cap (*2) Others include Woori Growth Partnerships New Technology Private Equity Fund, Partner One Value Up I Private Equity Fund, and etc., as of December 31, 2020 and 2021. |
Summary Of Major Loan Transactions With Related Parties | (3) Major loan transactions with related parties for the years ended December 31, 2019, 2020 and 2021 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2019 Related parties Beginning Loan Collection Ending (*) Associates W Service Network Co., Ltd. 69 315 361 23 Korea Credit Bureau Co., Ltd. 7 26 30 3 Korea Finance Security Co., Ltd. 57 2,426 623 1,860 Chin Hung International Inc 241 2,338 2,335 244 LOTTE CARD Co., Ltd. — 7,500 — 7,500 K BANK Co., Ltd. 185 2,249 2,293 141 Well to Sea No. 3 Private Equity Fund 1,857 2,633 — 4,490 (*) Payments that occurred for business reasons among related parties are excluded and net increase or decrease was used for limited credit loan. For the year ended December 31, 2020 Related parties Beginning Loan Collection Ending (*) Associates W Service Network Co., Ltd. 23 337 339 21 Korea Credit Bureau Co., Ltd. 3 17 19 1 Korea Finance Security Co., Ltd. 1,860 2,133 553 3,440 LOTTE CARD Co., Ltd. 7,500 — — 7,500 K BANK Co., Ltd. 141 1,942 1,979 104 Well to Sea No. 3 Private Equity Fund 4,490 — 4,490 — (*) Payments that occurred for business reasons among related parties are excluded and net increase or decrease was used for limited credit loan. For the year ended December 31, 2021 Related parties Beginning Loan Collection Others Ending (*) Associates W Service Network Co., Ltd. 21 248 249 — 20 Korea Credit Bureau Co., Ltd. 1 11 10 — 2 Korea Finance Security Co., Ltd. 3,440 333 348 — 3,425 LOTTE CARD Co., Ltd. 7,500 — 3,750 — 3,750 K BANK Co., Ltd. 104 1,769 1,774 — 99 Godo Kaisha Oceanos 1 44,036 — — (1,003 ) 43,033 Woori Zip 1 — 13,121 — (346 ) 12,775 Woori Zip 2 — 18,624 — (492 ) 18,132 (*) Payments that occurred for business reasons among related parties are excluded and net increase or decrease was used for limited credit loan. |
Details Of Changes In Major Deposits Due To Customers With Related Parties | (4) Details of changes in major deposits due to customers with related parties for the year December 31, 2019, 2020 and 2021 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2019 Related parties Beginning Increase Decrease Ending balance (*1) Associates Saman Corporation (*2) 2,436 86 — 2,522 W Service Networks Co., Ltd 1,180 1,460 1,460 1,180 Chin Hung International Inc 765 400 765 400 Partner One Value Up I Private Equity Fund 1,403 1,617 1,870 1,150 Korea Credit Bureau Co., Ltd. 6,000 — 6,000 — Korea Finance Security Co., Ltd. 535 25 560 — (*1) Details of payment between related parties, demand deposit due to customers and etc. are excluded. (*2) Excluded from the related parties due to the loss of significant influence for the year ended December 31, 2019. For the year ended December 31, 2020 Related parties Beginning Increase Decrease Ending balance (*) Associates W Service Networks Co., Ltd 1,180 1,180 1,180 1,180 Chin Hung International Inc 400 — 400 — Partner One Value Up I Private Equity Fund 1,150 1,737 2,024 863 Korea Credit Bureau Co., Ltd. — 1,000 — 1,000 (*) Details of payment between related parties, demand deposit due to customers and etc. are excluded. For the year ended December 31, 2021 Related parties Beginning Increase Decrease Ending balance (*) Associates W Service Networks Co., Ltd 1,180 1,180 1,180 1,180 Partner One Value Up I Private Equity Fund 863 637 1,171 329 Korea Credit Bureau Co., Ltd. 1,000 — 1,000 — (*) Details of payment between related parties, demand deposit due to customers and etc. are excluded. |
Summary Of Guarantees Provided To The Related Parties | (6) Guarantees provided to the related parties are as follows (Unit: Korean Won in millions): Warrantee December 31, 2020 December 31, 2021 Warranty Korea Finance Security Co., Ltd. 820 835 Unused loan commitment Korea Credit Bureau Co., Ltd. 34 33 Unused loan commitment W Service Network Co., Ltd. 179 180 Unused loan commitment Chin Hung International Inc. 16,167 — Unused loan commitment K BANK Co., Ltd. 196 201 Unused loan commitment LOTTE CARD Co. Ltd. 500,000 500,000 Unused loan commitment As of December 31, 2020 and 2021, the recognized payment guarantee provisions are 284 million Won and 93 million Won, respectively, in relation to the guarantees provided to the related parties above. |
Amount Of Commitments With The Related Parties | (7) Amount of commitments with the related parties Warrantee December 31, 2020 December 31, 2021 Warranty Together-Korea Government Private Pool Private Securities Investment Trust No.3 990,000 — Securities purchase commitment IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 9,704 4,664 Securities purchase commitment WooriG Senior Loan General Type Private Investment Trust No.1 53,041 14,284 Securities purchase commitment Woori Seoul Beltway Private Special Asset Fund No.1 41,393 39,458 Securities purchase commitment Woori-Shinyoung Growth-Cap 12,799 — Securities purchase commitment Woori-Q 36,355 11,109 Securities purchase commitment Union Technology Finance Investment Association 10,500 2,250 Securities purchase commitment Genesis Eco No.1 Private Equity Fund — 195 Securities purchase commitment Genesis Environmental Energy Company 1st Private Equity Fund 916 916 Securities purchase commitment JC Assurance No.2 Private Equity Fund 1,650 1,351 Securities purchase commitment Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 550 425 Securities purchase commitment PCC-Woori 2,525 — Securities purchase commitment WooriG Oncorp Corporate support of Major Industry General Type Private Investment Trust (Type 2) — 669 Securities purchase commitment |
Major investment and Recovery transactions | The details of major investment and recovery transactions with related parties for the year ended December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): For the year ended The same parent company and its associates Investment Recovery WooriG Public Offering stock 10 securities Investment Trust [Bond mixed] C(F) 1,000 — WooriG IGIS Securities Investment Trust [Bond] C(F) 1,300 — For the year ended The same parent company and its associates Investment (*) Recovery (*) Woori China Mainland Stock Securities Investment Trust — 568 Woori Long-term government bond securities Investment Trust No.1 2,000 — Woori New MMF No.3 — 20,105 Woori Multi-Return Securities Investment Trust 1 8,000 — Woori Multi-Return Securities Investment Trust 2 (Balanced Bond) 8,000 — Woori Short term Plus Securities Investment Trust 200 — Woori Smart New Deal 30 Target Conversion Securities Investment trust No.3 200 — Woori Smart Balance Securities Investment Trust (Stock) 500 — Woori ACE Public Offering stock Alpha Securities Investment Trust (Bond Mixed) 200 — WooriG Oncorp Corporate support of Major Industry General Type Private Investment Trust (Type 2) 831 — WooriG Public Offering stock 10 securities Investment Trust [Bond mixed] C(F) — 1,064 WooriG IGIS Securities Investment Trust [Bond] C(F) — 1,306 (*) Investment and recovery transactions of associates are described in Note 13.(2) |
Summary Of Compensation For Key Management | (9) Compensation for key management is as follows (Unit: Korean Won in millions): For the years ended December 31 2019 2020 2021 Short-term employee salaries 13,427 22,778 20,742 Retirement benefit service costs 783 910 815 Share-based compensation 2,494 3,519 6,970 Total 16,704 27,207 28,527 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of quantitative information about leases for lessee [abstract] | |
Summary of total investment in finance lease and the present value of the minimum lease payments to be recovered | ① The total investment in finance lease and the present value of the minimum lease payments to be recovered as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, 2020 Total investment in lease Net investment in lease Within one year 24,649 23,957 After one year but within two years 48,781 45,575 After two years but within three years 132,894 120,414 After three years but within four years 171,137 151,756 After four years but within five years 277,282 244,481 After five years 16 12 Total 654,759 586,195 December 31, 2021 Total investment in lease Net investment in lease Within one year 70,740 69,030 After one year but within two years 133,398 124,904 After two years but within three years 239,895 218,911 After three years but within four years 367,991 331,685 After four years but within five years 486,490 429,034 After five years 2 1 Total 1,298,516 1,173,565 |
Summary of unrealized interest income of the finance lease | ② The unrealized interest income of the finance lease as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, 2020 December 31, 2021 Total investment in lease 654,759 1,298,516 Net investment in lease 586,195 1,173,565 Present value of minimum lease payments 586,133 1,173,565 Present value of unguaranteed residual value 62 — Unearned interest income 68,564 124,951 |
Summary of operating lease assets | ① The details of operating lease assets as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, 2020 December 31, 2021 Prepaid lease assets 199 4,579 Operating lease assets Acquisition cost 1,506,957 2,299,968 Accumulated depreciation (390,981 ) (521,660 ) Net carrying value 1,115,976 1,778,308 Total 1,116,175 1,782,887 |
Summary of changes in assets subject to operating lease | ② The details of changes in operating lease assets as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, 2020 December 31, 2021 Beginning balance — 1,116,175 Acquisition 118,256 984,093 Disposal (21,963 ) (93,138 ) Depreciation (52,504 ) (250,971 ) Business combination 1,071,111 — Others 1,275 22,149 Ending balance 1,116,175 1,778,308 |
Summary of future lease payments to be received under operating lease contracts | ③ The future lease payments to be received under the lease contracts as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, 2020 December 31, 2021 Within one year 240,005 377,153 After one year but within two years 223,074 347,539 After two years but within three years 156,859 262,176 After three years but within four years 80,174 170,391 After four years but within five years 24,992 79,555 Total 725,104 1,236,814 |
Summary of future lease payments for the lease contracts | 1) The future lease payments under the lease contracts as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): December 31, 2020 December 31, 2021 Lease payments Within one year 173,885 151,259 After one year but within five years 200,844 155,707 After five years 34,787 38,275 Total 409,516 345,241 |
Summary of cash outflows from lease | 2) Total cash outflows from lease as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): For the years ended December 31 2020 2021 Total cash outflows from lease 207,305 180,884 |
Summary of lease payments of short-term leases or leases for low-value assets | 3) Details of lease payments that are not included in the measurement of lease liabilities due to the fact that they are short-term leases or leases for which the underlying asset is low value as of December 31, 2020 and 2021 are as follows (Unit: Korean Won in millions): For the years ended December 31 2020 2021 Lease payments for short-term leases 1,760 1,598 Lease payments for which the underlying asset is of low value 751 1,488 Total 2,511 3,086 |
General - General Information (
General - General Information (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | |
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 on January 11, 2019 | ||
Description of nature of entitys operations and principal activities | primarily aimed at controlling subsidiaries that operate in the financial industry or those that are closely related to the financial industry through the ownership of shares and was established on January 11, 2019 under the Financial Holding Company Act through the comprehensive transfer with shareholders of Woori Bank (hereinafter referred to the “Bank”), Woori FIS Co., Ltd., Woori Finance Research Institute Co., Ltd., Woori Credit Information Co., Ltd., Woori Fund Services Co., Ltd. and Woori Private Equity Asset Management Co. Ltd. | ||
Information of listing on stock market | The Parent company’s stocks were listed on the Korea Exchange on February 13, 2019, and its American Depository Shares (“ADS”) are also being traded as the underlying common stock on the New York Stock Exchange since the same date. | ||
Issued capital | ₩ 3,640,303 | $ 3,062,681 | ₩ 3,611,338 |
Information of incorporated subsidiaries | As of August 1, 2019, the Parent company acquired a 73% interest in Tongyang Asset Management Co., Ltd. and changed the name to Woori Asset Management Corp. Also, as of August 1, 2019, the Parent company gained 100% control of ABL Global Asset Management Co., Ltd., added it as a consolidated subsidiary and changed the name to Woori Global Asset Management Co., Ltd. on December 6, 2019.The Parent company paid 598,391 million Won in cash and 42,103,377 new shares of the Parent company to acquire 100% interest of Woori Card Co., Ltd. from its subsidiary, Woori Bank, on September 10, 2019. On the same date, the Parent company also acquired 59.8% interest of Woori Investment Bank Co., Ltd. from Woori Bank with 392,795 million Won in cash.As of December 30, 2019, the Parent company acquired a 67.2% interest (excluding treasury stocks, 51% interest including treasury stocks) in Woori Asset Trust Co., Ltd. (formerly Kukje Asset Trust Co., Ltd.) and added it as a consolidated subsidiary at the end of 2019.The Parent company acquired 76.8% (excluding treasury stocks, 74.0% interest including treasury stocks) interest in Woori Financial Capital Co., Ltd. (formerly Aju Capital Co., Ltd.) on December 10, 2020. In addition, as of April 15, 2021, the Parent company acquired 13.3% interests (excluding treasury stock, 12.9% when including treasury stock) in Woori Financial Capital Co., Ltd., and as of May 24, 2021, the Parent company additionally acquired treasury stock (3.6%) which Woori Financial Capital Co., Ltd. possessed.The Parent Company paid 113,238 million Won in cash to acquire 100% interest of Woori Savings Bank from its subsidiary, Woori Financial Capital Co., Ltd., on March 12, 2021.As of August 10, 2021, the Parent company paid 5,792,866 new shares of the Parent company to the shareholders of Woori Financial Capital Co., Ltd. (excluding the Parent company) through comprehensive stock exchange and acquired residual interest (9.5%) of Woori Financial Capital Co., Ltd., to make it a wholly owned subsidiary. | ||
Address of registered office of entity | The headquarters of the Parent company is located at 51, Sogong-ro, Jung-gu, Seoul, Korea |
General - Details of stock tran
General - Details of stock transfer from the company and subsidiaries as of incorporation (Details) - shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Stock Transfer [Line Items] | ||
Total number of issued shares | 728,060,549 | 722,267,683 |
Woori bank | ||
Disclosure Of Stock Transfer [Line Items] | ||
Total number of issued shares | 676,000,000 | |
Exchange ratio per share | 100.00% | |
Number of parent company's stocks | 676,000,000 | |
Woori FIS Co., Ltd. | ||
Disclosure Of Stock Transfer [Line Items] | ||
Total number of issued shares | 4,900,000 | |
Exchange ratio per share | 29.99708% | |
Number of parent company's stocks | 1,469,857 | |
Woori Finance Research Institute Co., Ltd. | ||
Disclosure Of Stock Transfer [Line Items] | ||
Total number of issued shares | 600,000 | |
Exchange ratio per share | 18.88165% | |
Number of parent company's stocks | 113,289 | |
Woori Credit Information Co., Ltd. | ||
Disclosure Of Stock Transfer [Line Items] | ||
Total number of issued shares | 1,008,000 | |
Exchange ratio per share | 110.37292% | |
Number of parent company's stocks | 1,112,559 | |
Woori Fund Service Co., Ltd. | ||
Disclosure Of Stock Transfer [Line Items] | ||
Total number of issued shares | 2,000,000 | |
Exchange ratio per share | 47.09031% | |
Number of parent company's stocks | 941,806 | |
Woori Private Equity Asset Management Co., Ltd. | ||
Disclosure Of Stock Transfer [Line Items] | ||
Total number of issued shares | 6,000,000 | |
Exchange ratio per share | 8.77992% | |
Number of parent company's stocks | 526,795 |
General - Consolidated subsidia
General - Consolidated subsidiaries and their financial information (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | ||||
Woori bank | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Financial Group Inc. | Woori Financial Group Inc. | |||
Subsidiaries | Woori Bank | Woori Bank | |||
Main business | Bank | Bank | |||
Percentage of ownership | 100.00% | 100.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | |||||
Assets | ₩ 415,976,627 | ₩ 374,310,415 | |||
Liabilities | 391,360,200 | 350,790,158 | |||
Operating revenue | 24,311,964 | 26,838,766 | |||
Net income (loss) attributable to owners | 2,330,433 | 1,363,224 | |||
Comprehensive income (loss) attributable to owners | ₩ 2,478,754 | ₩ 1,295,302 | |||
Woori Card Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Financial Group Inc. | Woori Financial Group Inc. | |||
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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | |||||
Assets | ₩ 14,116,832 | ₩ 11,366,596 | |||
Liabilities | 11,858,065 | 9,312,986 | |||
Operating revenue | 1,528,680 | 1,388,208 | |||
Net income (loss) attributable to owners | 200,726 | 120,230 | |||
Comprehensive income (loss) attributable to owners | ₩ 210,316 | ₩ 118,109 | |||
Woori Financial Capital Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Financial Group Inc. | Woori Financial Group Inc. | |||
Subsidiaries | Woori Financial Capital Co., Ltd. | Woori Financial Capital Co., Ltd. | |||
Main business | Finance | Finance | |||
Percentage of ownership | 100.00% | 76.80% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | |||||
Assets | ₩ 10,259,868 | ₩ 8,880,117 | [1] | ||
Liabilities | 9,073,104 | 8,053,840 | [1] | ||
Operating revenue | 997,655 | 218,945 | [1] | ||
Net income (loss) attributable to owners | 140,579 | (30,349) | [1] | ||
Comprehensive income (loss) attributable to owners | ₩ 141,275 | ₩ (38,293) | [1] | ||
Woori Investment Bank Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Financial Group Inc. | Woori Financial Group Inc. | |||
Subsidiaries | Woori Investment Bank Co., Ltd. | Woori Investment Bank Co., Ltd. | |||
Main business | Other credit finance business | Other credit finance business | |||
Percentage of ownership | 58.70% | 58.70% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | |||||
Assets | ₩ 5,159,742 | ₩ 4,332,474 | |||
Liabilities | 4,559,856 | 3,803,594 | |||
Operating revenue | 303,253 | 256,079 | |||
Net income (loss) attributable to owners | 79,924 | 62,937 | |||
Comprehensive income (loss) attributable to owners | ₩ 79,747 | ₩ 62,275 | |||
Woori Asset Trust Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Financial Group Inc. | Woori Financial Group Inc. | |||
Subsidiaries | Woori Asset Trust Co., Ltd. | Woori Asset Trust Co., Ltd. | |||
Main business | Real estate trust | Real estate trust | |||
Percentage of ownership | 67.20% | 67.20% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | |||||
Assets | ₩ 254,773 | ₩ 185,634 | |||
Liabilities | 86,418 | 56,396 | |||
Operating revenue | 94,228 | 79,426 | |||
Net income (loss) attributable to owners | 40,300 | 35,312 | |||
Comprehensive income (loss) attributable to owners | ₩ 40,263 | ₩ 35,954 | |||
Woori Asset Management Corp. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Financial Group Inc. | Woori Financial Group Inc. | |||
Subsidiaries | Woori Asset Management Corp. | Woori Asset Management Corp. | |||
Main business | Finance | Finance | |||
Percentage of ownership | 73.00% | 73.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | |||||
Assets | ₩ 151,651 | ₩ 136,460 | |||
Liabilities | 30,144 | 23,411 | |||
Operating revenue | 33,343 | 26,158 | |||
Net income (loss) attributable to owners | 8,244 | 6,797 | |||
Comprehensive income (loss) attributable to owners | ₩ 8,458 | ₩ 6,313 | |||
Woori Savings Bank | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Financial Group Inc. | Woori Financial Group Inc. | |||
Subsidiaries | [2] | Woori Savings Bank | Woori Savings Bank | ||
Main business | Mutual Savings bank | Mutual Savings bank | |||
Percentage of ownership | 100.00% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | During March 2021, the Parent company acquired a 100% equity of Woori Financial Savings Bank from the Parent company’s subsidiary Woori Financial Capital Co., Ltd. | During March 2021, the Parent company acquired a 100% equity of Woori Financial Savings Bank from the Parent company’s subsidiary Woori Financial Capital Co., Ltd. | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | |||||
Assets | ₩ 1,444,508 | ||||
Liabilities | 1,222,888 | ||||
Operating revenue | 85,813 | ||||
Net income (loss) attributable to owners | 15,315 | ||||
Comprehensive income (loss) attributable to owners | ₩ 14,926 | ||||
Woori Credit Information Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Financial Group Inc. | Woori Financial Group Inc. | |||
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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | |||||
Assets | ₩ 40,510 | ₩ 40,860 | |||
Liabilities | 8,532 | 9,830 | |||
Operating revenue | 37,507 | 40,010 | |||
Net income (loss) attributable to owners | 1,563 | 1,879 | |||
Comprehensive income (loss) attributable to owners | ₩ 1,513 | ₩ 1,600 | |||
Woori Fund Service Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Financial Group Inc. | Woori Financial Group Inc. | |||
Subsidiaries | Woori Fund Service Co., Ltd. | Woori Fund Service Co., Ltd. | |||
Main business | Financial support service business | Financial support service business | |||
Percentage of ownership | 100.00% | 100.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | |||||
Assets | ₩ 22,168 | ₩ 18,957 | |||
Liabilities | 2,582 | 2,172 | |||
Operating revenue | 15,618 | 13,346 | |||
Net income (loss) attributable to owners | 3,570 | 2,563 | |||
Comprehensive income (loss) attributable to owners | ₩ 3,570 | ₩ 2,563 | |||
Woori Private Equity Asset Management Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Financial Group Inc. | Woori Financial Group Inc. | |||
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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | |||||
Assets | ₩ 42,790 | ₩ 38,035 | |||
Liabilities | 4,652 | 2,009 | |||
Operating revenue | 4,230 | 4,773 | |||
Net income (loss) attributable to owners | 2,209 | 823 | |||
Comprehensive income (loss) attributable to owners | ₩ 2,113 | ₩ 768 | |||
Woori Global Asset Management Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Financial Group Inc. | Woori Financial Group Inc. | |||
Subsidiaries | Woori Global Asset Management Co., Ltd. | Woori Global Asset Management Co., Ltd. | |||
Main business | Finance | Finance | |||
Percentage of ownership | 100.00% | 100.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | |||||
Assets | ₩ 35,265 | ₩ 37,935 | |||
Liabilities | 7,579 | 9,807 | |||
Operating revenue | 11,785 | 10,652 | |||
Net income (loss) attributable to owners | (441) | (1,449) | |||
Comprehensive income (loss) attributable to owners | ₩ (441) | ₩ (1,449) | |||
Woori FIS Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Financial Group Inc. | Woori Financial Group Inc. | |||
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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | |||||
Assets | ₩ 105,138 | ₩ 97,479 | |||
Liabilities | 59,225 | 59,577 | |||
Operating revenue | 270,393 | 249,169 | |||
Net income (loss) attributable to owners | 1,587 | 2,013 | |||
Comprehensive income (loss) attributable to owners | ₩ 8,010 | ₩ 1,935 | |||
Woori Finance Research Institute Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Financial Group Inc. | Woori Financial Group Inc. | |||
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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | |||||
Assets | ₩ 5,864 | ₩ 7,232 | |||
Liabilities | 2,257 | 3,689 | |||
Operating revenue | 6,812 | 6,223 | |||
Net income (loss) attributable to owners | 57 | 105 | |||
Comprehensive income (loss) attributable to owners | ₩ 64 | ₩ 95 | |||
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 | America | America | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
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 | 84.20% | 79.90% | |||
Location | Indonesia | Indonesia | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Woori Bank (Cambodia) PLC | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [3],[4] | Woori Bank (Cambodia) PLC | Woori Bank (Cambodia) PLC | ||
Main business | Finance | Finance | |||
Percentage of ownership | 100.00% | 100.00% | |||
Location | Cambodia | Cambodia | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Woori Bank Europe | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | Woori Bank Europe | Woori Bank Europe | |||
Main business | Finance | Finance | |||
Percentage of ownership | 100.00% | 100.00% | |||
Location | Germany | Germany | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Kumho Trust First Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | 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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 | [5] | Asiana Saigon Inc. | Asiana Saigon Inc. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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. | |||
KAMCO Value Recreation First Securitization Specialty Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | 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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 | [6] | Hermes STX Co., Ltd. | Hermes STX Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | ||||
Location | Korea | Korea | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | Companies are excluded from the consolidation as of December 31, 2021. | Companies are excluded from the consolidation as of December 31, 2021. | |||
BWL First Co., LLC | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [6] | BWL First Co., LLC | BWL First Co., LLC | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | ||||
Location | Korea | Korea | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | Companies are excluded from the consolidation as of December 31, 2021. | Companies are excluded from the consolidation as of December 31, 2021. | |||
Deogi Dream Fourth Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | 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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 | [5] | Jeonju Iwon Ltd. | Jeonju Iwon Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 | [5] | 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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 | [5] | 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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | 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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. | ||||
Explanation of newly added subsidiaries to consolidation | The entity is a structured entity for the purpose of asset securitization. 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 | [5] | 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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 | [5] | 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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 QS 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori QS 1st Co., Ltd. | Woori QS 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 Display 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori Display 1st Co., Ltd. | Woori Display 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 | [5] | 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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 Display 2nd Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori Display 2nd Co., Ltd. | Woori Display 2nd Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 | Woori Bank | |||
Subsidiaries | [6] | Woori the Colony Unjung Securitization Specialty Co., Ltd. | Woori the Colony Unjung Securitization Specialty Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | ||||
Location | Korea | Korea | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | Companies are excluded from the consolidation as of December 31, 2021. | Companies are excluded from the consolidation as of December 31, 2021. | |||
Woori Dream 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [6] | Woori Dream 1st Co., Ltd. | Woori Dream 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | ||||
Location | Korea | Korea | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | Companies are excluded from the consolidation as of December 31, 2021. | Companies are excluded from the consolidation as of December 31, 2021. | |||
Woori Dream 2nd Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori Dream 2nd Co., Ltd. | Woori Dream 2nd Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 | Woori Bank | |||
Subsidiaries | [5] | Woori H 1st Co., Ltd. | Woori H 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 | Woori Bank | |||
Subsidiaries | [6] | Woori Sinnonhyeon 1st Inc. | Woori Sinnonhyeon 1st Inc. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | ||||
Location | Korea | Korea | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | Companies are excluded from the consolidation as of December 31, 2021. | Companies are excluded from the consolidation as of December 31, 2021. | |||
Woori K 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori K 1st Co., Ltd. | Woori K 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 S 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori S 1st Co., Ltd. | Woori S 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 Display 3rd Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori Display 3rd Co., Ltd. | Woori Display 3rd Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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. | |||
TY 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | TY 1st Co., Ltd. | TY 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 2nd Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [6] | Woori HJ 2nd Co., Ltd. | Woori HJ 2nd Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | ||||
Location | Korea | Korea | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | Companies are excluded from the consolidation as of December 31, 2021. | Companies are excluded from the consolidation as of December 31, 2021. | |||
Woori-HJ 3rd Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori-HJ 3rd Co., Ltd. | Woori-HJ 3rd Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 2nd Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori K 2nd Co., Ltd. | Woori K 2nd Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 KC No.1 Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori KC No.1 Co., Ltd. | Woori KC No.1 Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 QSell 2nd Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [6] | Woori QSell 2nd Co., Ltd. | Woori QSell 2nd Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | ||||
Location | Korea | Korea | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | Companies are excluded from the consolidation as of December 31, 2021. | Companies are excluded from the consolidation as of December 31, 2021. | |||
Quantum Jump the 2nd Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Quantum Jump the 2nd Co., Ltd. | Quantum Jump the 2nd Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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. | |||
Quantum Jump the 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Quantum Jump the 1st Co.,Ltd. | Quantum Jump the 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 BK the 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori BK the 1st Co., Ltd. | Woori BK the 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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-HC 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori-HC 1st Co., Ltd. | Woori-HC 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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. | |||
Wivi Synergy 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Wivi Synergy 1st Co., Ltd. | Wivi Synergy 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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. | |||
ATLANTIC TRANSPORTATION 1 S.A. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | ATLANTIC TRANSPORTATION 1S.A. | ATLANTIC TRANSPORTATION 1 S.A | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Marshallislands | Marshallislands | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 Gongdeok First Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori Gongdeok First Co.,Ltd. | Woori Gongdeok First Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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. | |||
HD Project Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | HD Project Co., Ltd. | HD Project Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 HW 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori HW 1st Co., Ltd. | Woori HW 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 HC 2nd Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori HC 2nd Co., Ltd. | Woori HC 2nd Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 3rd Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori Dream 3rd Co., Ltd. | Woori Dream 3rd Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 SJS 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori SJS 1st Co., Ltd. | Woori SJS 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 Steel 1st Co., Ltd | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori Steel 1st Co., Ltd | Woori Steel 1st Co., Ltd | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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. | |||
SPG the 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | SPG the 1st Co., Ltd. | SPG the 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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-HWC 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori-HWC 1st Co., Ltd. | Woori-HWC 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 HC 3rd Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori HC 3rd Co., Ltd. | Woori HC 3rd Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 Park I 1st co., Ltd | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori Park I 1st co., Ltd | Woori Park I 1st co., Ltd | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 DS 1st co., Ltd | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori DS 1st co., Ltd | Woori DS 1st co., Ltd | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 HC 4th Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori HC 4th Co., Ltd. | Woori HC 4th Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 SKR 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori SKR 1st Co., Ltd. | Woori SKR 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 Hchemical 1st Co., Ltd | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori Hchemical 1st Co.,Ltd | Woori Hchemical 1st Co., Ltd | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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. | |||
HE the 1st Co.,Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | HE the 1st Co.,Ltd. | HE the 1st Co.,Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 Hub The 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori Hub The 1st Co., Ltd. | Woori Hub The 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 The 3rd Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori K The 3rd Co., Ltd. | Woori K The 3rd Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 KF 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori KF 1st Co., Ltd. | Woori KF 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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. | |||
WooriI TS 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | WooriI TS 1st Co., Ltd. | WooriI TS 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 Square 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori H Square 1st Co., Ltd. | Woori H Square 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 L Yongsan 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori L Yongsan 1st Co.,Ltd. | Woori L Yongsan 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 HC 5th Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori HC 5th Co., Ltd. | Woori HC 5th Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 Ladena 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori Ladena 1st Co., Ltd. | Woori Ladena 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 HR 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori HR 1st Co., Ltd. | Woori HR 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 Lotte Dongtan 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori Lotte Dongtan 1st Co., Ltd. | Woori Lotte Dongtan 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 HC 6th Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori HC 6th Co., Ltd. | Woori HC 6th Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 ECO 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [5] | Woori ECO 1st Co., Ltd. | Woori ECO 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 | [7] | 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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. 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 | Woori Bank | |||
Subsidiaries | [7],[8] | Heungkuk Global Private Placement Investment Trust No. 1 | Heungkuk Global Private Placement Investment Trust No. 1 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 98.80% | 98.50% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | |||
AI Partners UK Water Supply Private Placement Investment Trust No.2 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [7],[8] | AI Partners UK Water Supply Private Placement InvestmentTrust No.2 | AI Partners UK Water Supply Private Placement Investment Trust No.2 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 97.30% | 97.30% | |||
Location | England | England | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | a specialized investment-type private equity fund has been changed to a general private equity fund. | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | |||
Multi Asset Global Real Estate Investment Trust No. 5-2 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [7] | Multi Asset Global Real Estate Investment Trust No. 5-2 | Multi Asset Global Real Estate Investment Trust No. 5-2 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 99.00% | 99.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. 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. | |||
Igis Australia Investment Trust No. 209-1 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [7],[8] | Igis Australia Investment Trust No. 209-1 | Igis Australia Investment Trust No. 209-1 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 99.40% | 99.40% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | |||
INMARK Spain Private Placement Real Estate Investment Trust No. 26-2 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [7] | INMARK Spain Private Placement Real Estate Investment Trust No. 26-2 | INMARK Spain Private Placement Real Estate Investment Trust No. 26-2 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 97.70% | 97.70% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. 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. | |||
WooriG Japan General Type Private Real Estate Feeder Investment Trust No.1-2 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [7],[8] | WooriG Japan General Type Private Real Estate Feeder Investment TrustNo.1-2 | WooriG Japan General Type Private Real Estate Feeder Investment TrustNo.1-2 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 98.80% | 98.80% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | |||
IGIS Global Private Placement Real Estate Fund No. 316-1 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [7] | IGIS Global Private Placement Real Estate FundNo. 316-1 | IGIS Global Private Placement Real Estate FundNo. 316-1 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 99.30% | 99.30% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. 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 G Secondary Private Placement Investment Trust No. 1 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [7] | Woori G Secondary Private Placement Investment Trust No. 1 | [8] | Woori G Secondary Private Placement Investment Trust No. 1 | |
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 98.10% | 97.20% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
WooriG Japan Blind General Type Private Real Estate Feeder Investment Trust No.1 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [7],[8] | WooriG Japan Blind General Type Private Real Estate Feeder Investment Trust No.1 | WooriG Japan Blind General Type Private Real Estate Feeder Investment Trust No.1 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 99.80% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | |||
JBairline Private Placement Investment Trust No.8 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [7],[8] | JBairline Private Placement Investment Trust No.8 | JBairline Private Placement Investment Trust No.8 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 97.00% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | |||
Kiwoom Harmony Private Placement Investment Trust No. 2 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [7],[8] | Kiwoom Harmony Private Placement Investment Trust No. 2 | Kiwoom Harmony Private Placement Investment Trust No. 2 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 97.10% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | |||
Kiwoom Harmony Private Placement Investment Trust No.1 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [7],[8] | Kiwoom Harmony Private Placement Investment Trust No.1 | Kiwoom Harmony Private Placement Investment Trust No.1 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 96.00% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | |||
Principal Guaranteed Trust | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [9] | Principal Guaranteed Trust | Principal Guaranteed Trust | ||
Main business | Trust | Trust | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a ‘money trust’ under the Financial Investment Services and Capital Markets Act. 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. 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. | |||
Principal and Interest Guaranteed Trust | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Woori Bank | Woori Bank | |||
Subsidiaries | [9] | Principal and Interest GuaranteedTrust | Principal and Interest GuaranteedTrust | ||
Main business | Trust | Trust | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a ‘money trust’ under the Financial Investment Services and Capital Markets Act. 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. 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. | |||
MAGI No.5 LuxCo S.a.r.l. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Multi Asset Global Real Estate Investment Trust No. 5-2 | Multi Asset Global Real Estate Investment Trust No. 5-2 | |||
Subsidiaries | MAGI No.5 LuxCo S.a.r.l. | MAGI No.5 LuxCo S.a.r.l. | |||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 54.60% | 54.60% | |||
Location | Luxembourg | Luxembourg | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
ADP 16 Brussels | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | [5] | MAGI No.5 LuxCo S.a.r.l | |||
Subsidiaries | [5] | ADP 16 Brussels | ADP 16 Brussels | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Belgium | Belgium | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 | Held by Woori Card Co., Ltd. | Held by 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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Woori Card one of 2017-2 Securitization Specialty Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Card Co., Ltd. | Held by Woori Card Co., Ltd. | |||
Subsidiaries | [6] | 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% | ||||
Location | Korea | Korea | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | Companies are excluded from the consolidation as of December 31, 2021. | Companies are excluded from the consolidation as of December 31, 2021. | |||
Woori Card one of 2018-1 Securitization Specialty Co., Ltd | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Card Co., Ltd. | Held by Woori Card Co., Ltd. | |||
Subsidiaries | [5] | Woori Card one of 2018-1 Securitization Specialty Co.,Ltd. | Woori Card one of 2018-1 Securitization Specialty Co.,Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.50% | 0.50% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 2019-1 Asset Securitization Specialty Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Card Co., Ltd. | Held by Woori Card Co., Ltd. | |||
Subsidiaries | [5] | Woori Card 2019-1 Asset Securitization Specialty Co., Ltd. | Woori Card 2019-1 Asset Securitization Specialty Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.50% | 0.50% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 2020-1 Asset Securitization Specialty Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Card Co., Ltd. | Held by Woori Card Co., Ltd. | |||
Subsidiaries | [5] | Woori Card 2020-1 Asset Securitization Specialty Co., Ltd. | Woori Card 2020-1 Asset Securitization Specialty Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.50% | 0.50% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 2021-1 Asset Securitization Specialty Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Card Co., Ltd. | Held by Woori Card Co., Ltd. | |||
Subsidiaries | [5] | Woori Card 2021-1 Asset Securitization Specialty Co., Ltd. | Woori Card 2021-1 Asset Securitization Specialty Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.50% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 Savings Bank | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Financial Capital Co., Ltd. | Held by Woori Financial Capital Co., Ltd. | |||
Subsidiaries | [6] | Woori Savings Bank | Woori Savings Bank | ||
Main business | Mutual Savings bank | Mutual Savings bank | |||
Percentage of ownership | 100.00% | ||||
Location | Korea | Korea | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | Companies are excluded from the consolidation as of December 31, 2021. | Companies are excluded from the consolidation as of December 31, 2021. | |||
ACE Auto Invest the 46th Securitization Specialty Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Financial Capital Co., Ltd. | Held by Woori Financial Capital Co., Ltd. | |||
Subsidiaries | [6] | ACE Auto Invest the 46th Securitization Specialty Co., Ltd. | ACE Auto Invest the 46th Securitization Specialty Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 1.00% | ||||
Location | Korea | Korea | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | Companies are excluded from the consolidation as of December 31, 2021. | Companies are excluded from the consolidation as of December 31, 2021. | |||
ACE Auto Invest the 47th Securitization Specialty Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Financial Capital Co., Ltd. | Held by Woori Financial Capital Co., Ltd. | |||
Subsidiaries | [6] | ACE Auto Invest the 47th Securitization Specialty Co., Ltd. | ACE Auto Invest the 47th Securitization Specialty Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 1.00% | ||||
Location | Korea | Korea | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | Companies are excluded from the consolidation as of December 31, 2021. | Companies are excluded from the consolidation as of December 31, 2021. | |||
ACE Auto Invest the 48th Securitization Specialty Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Financial Capital Co., Ltd. | Held by Woori Financial Capital Co., Ltd. | |||
Subsidiaries | [5] | ACE Auto Invest the 48th Securitization Specialty Co., Ltd. | ACE Auto Invest the 48th Securitization Specialty Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 1.00% | 1.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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. | |||
ACE Auto Invest the 49th Securitization Specialty Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Financial Capital Co., Ltd. | Held by Woori Financial Capital Co., Ltd. | |||
Subsidiaries | [5] | ACE Auto Invest the 49th Securitization Specialty Co., Ltd. | ACE Auto Invest the 49th Securitization Specialty Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 1.00% | 1.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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. | |||
Specified Money Market Trust | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Financial Capital Co., Ltd. | Held by Woori Financial Capital Co., Ltd. | |||
Subsidiaries | [6] | Specified Money Market Trust | Specified Money Market Trust | ||
Main business | Trust | Trust | |||
Percentage of ownership | 100.00% | ||||
Location | Korea | Korea | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | Companies are excluded from the consolidation as of December 31, 2021. | Companies are excluded from the consolidation as of December 31, 2021. | |||
Seari First Securitization Specialty Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Investment Bank Co., Ltd. | Held by Woori Investment Bank Co., Ltd. | |||
Subsidiaries | [5] | 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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 | Held by Woori Investment Bank Co., Ltd. | Held by Woori Investment Bank Co., Ltd. | |||
Subsidiaries | [5] | Seari Second Securitization Specialty Co., Ltd. | Seari Second Securitization Specialty Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 5.00% | 5.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 | Held by Woori Investment Bank Co., Ltd. | Held by Woori Investment Bank Co., Ltd. | |||
Subsidiaries | [5] | 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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 | Held by Woori Investment Bank Co., Ltd. | Held by Woori Investment Bank Co., Ltd. | |||
Subsidiaries | [5] | 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 date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 | Held by Woori Investment Bank Co., Ltd. | Held by Woori Investment Bank Co., Ltd. | |||
Subsidiaries | [5] | Bukgeum Second Securitization Specialty Co., Ltd. | Bukgeum Second Securitization Specialty Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 5.00% | 5.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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. | |||
WS1909 Securitization Specialty Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Investment Bank Co., Ltd. | Held by Woori Investment Bank Co., Ltd. | |||
Subsidiaries | [5] | WS1909 Securitization Specialty Co., Ltd. | WS1909 Securitization Specialty Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 5.00% | 5.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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. | |||
WS2003 Securitization Specialty Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Investment Bank Co., Ltd. | Held by Woori Investment Bank Co., Ltd. | |||
Subsidiaries | [5] | WS2003 Securitization Specialty Co., Ltd. | WS2003 Securitization Specialty Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 5.00% | 5.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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. | |||
WS2006 Securitization Specialty Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Investment Bank Co., Ltd. | Held by Woori Investment Bank Co., Ltd. | |||
Subsidiaries | [5] | WS2006 Securitization Specialty Co., Ltd. | WS2006 Securitization Specialty Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 5.00% | 5.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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. | |||
WJ2008 Securitization Specialty Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Investment Bank Co., Ltd. | Held by Woori Investment Bank Co., Ltd. | |||
Subsidiaries | [5] | WJ2008 Securitization Specialty Co., Ltd. | WJ2008 Securitization Specialty Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 5.00% | 5.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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. | |||
WH2103 Securitization Specialty Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Investment Bank Co., Ltd. | Held by Woori Investment Bank Co., Ltd. | |||
Subsidiaries | [5] | WH2103 Securitization Specialty Co., Ltd. | WH2103 Securitization Specialty Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 5.00% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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. | |||
WN2103 Securitization Specialty Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Investment Bank Co., Ltd. | Held by Woori Investment Bank Co., Ltd. | |||
Subsidiaries | [5] | WN2103 Securitization Specialty Co., Ltd. | WN2103 Securitization Specialty Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 5.00% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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. | |||
WH2106 Securitization Specialty Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Investment Bank Co., Ltd. | Held by Woori Investment Bank Co., Ltd. | |||
Subsidiaries | [5] | WH2106 Securitization Specialty Co., Ltd. | WH2106 Securitization Specialty Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 5.00% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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. | |||
One Punch Korea the 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Investment Bank Co., Ltd. | Held by Woori Investment Bank Co., Ltd. | |||
Subsidiaries | [5] | One Punch Korea the 1st Co., Ltd. | One Punch Korea the 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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. | |||
One Punch blue the 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Investment Bank Co., Ltd. | Held by Woori Investment Bank Co., Ltd. | |||
Subsidiaries | [5] | One Punch blue the 1st Co., Ltd. | One Punch blue the 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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. | |||
One Punch red the 1st Co., Ltd. | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Investment Bank Co., Ltd. | Held by Woori Investment Bank Co., Ltd. | |||
Subsidiaries | [5] | One Punch red the 1st Co., Ltd. | One Punch red the 1st Co., Ltd. | ||
Main business | Asset securitization | Asset securitization | |||
Percentage of ownership | 0.00% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of asset securitization. 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. 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 China Convertible Bond Hedging feeder Investment Trust H (debt-oriented hybrid) | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Asset Management Corp. | Held by Woori Asset Management Corp. | |||
Subsidiaries | [7] | Woori China Convertible Bond Hedging feeder Investment Trust H (debt-oriented hybrid) | Woori China Convertible Bond Hedging feeder Investment Trust H (debt-oriented hybrid) | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 93.60% | 99.60% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. 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 China Convertible Bond Master Fund (debt-oriented hybrid) | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Asset Management Corp. | Held by Woori Asset Management Corp. | |||
Subsidiaries | [6],[10] | Woori China Convertible Bond Master Fund (debt-oriented hybrid) | Woori China Convertible Bond Master Fund (debt-oriented hybrid) | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 34.50% | ||||
Location | Korea | Korea | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | Companies are excluded from the consolidation as of December 31, 2021. As a master-feeder fund, the equity interest represent those of the masterfund held by the feeder fund. | Companies are excluded from the consolidation as of December 31, 2021. As a master-feeder fund, the equity interest represent those of the masterfund held by the feeder fund. | |||
Woori Yellow Chip High Yield Strategic Allocation 1 (FOF) | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Asset Management Corp. | Held by Woori Asset Management Corp. | |||
Subsidiaries | [6] | Woori Yellow Chip High Yield Strategic Allocation 1 (FOF) | Woori Yellow Chip High Yield Strategic Allocation 1 (FOF) | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 89.80% | ||||
Location | Korea | Korea | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | Companies are excluded from the consolidation as of December 31, 2021. | Companies are excluded from the consolidation as of December 31, 2021. | |||
Woori Together TDF 2025 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Asset Management Corp. | Held by Woori Asset Management Corp. | |||
Subsidiaries | [7] | Woori Together TDF 2025 | Woori Together TDF 2025 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 34.10% | 47.60% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. 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 Together TDF 2030 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Asset Management Corp. | Held by Woori Asset Management Corp. | |||
Subsidiaries | [7] | Woori Together TDF 2030 | Woori Together TDF 2030 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 32.30% | 47.40% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. 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 Together TDF 2035 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Asset Management Corp. | Held by Woori Asset Management Corp. | |||
Subsidiaries | [7] | Woori Together TDF 2035 | Woori Together TDF 2035 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 56.00% | 47.80% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. 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 Together TDF 2040 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Asset Management Corp. | Held by Woori Asset Management Corp. | |||
Subsidiaries | [7] | Woori Together TDF 2040 | Woori Together TDF 2040 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 55.70% | 48.80% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. 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 Together TDF 2045 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Asset Management Corp. | Held by Woori Asset Management Corp. | |||
Subsidiaries | [7] | Woori Together TDF 2045 | Woori Together TDF 2045 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 65.20% | 47.70% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. 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 Together TDF 2050 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Asset Management Corp. | Held by Woori Asset Management Corp. | |||
Subsidiaries | [7] | Woori Together TDF 2050 | Woori Together TDF 2050 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 63.60% | 87.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. 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 Star50 Feeder Fund(H) | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Asset Management Corp. | Held by Woori Asset Management Corp. | |||
Subsidiaries | [7] | Woori Star50 Feeder Fund(H) | Woori Star50 Feeder Fund(H) | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 44.80% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. 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 BIG2 Plus Securities Investment Trust (Balanced Bond) | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Asset Management Corp. | Held by Woori Asset Management Corp. | |||
Subsidiaries | [7] | Woori BIG2 Plus Securities Investment Trust (Balanced Bond) | Woori BIG2 Plus Securities Investment Trust (Balanced Bond) | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 40.80% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. 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. | |||
Japanese Hotel Real Estate Private Equity Fund 1 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | [11] | Held by Woori Financial Capital Co., Ltd., Woori Private Equity Asset Management Co., Ltd. and Woori Investment Bank Co.,Ltd. | Held by Woori Financial Capital Co., Ltd., Woori Private Equity Asset Management Co., Ltd. and Woori Investment Bank Co.,Ltd. | ||
Subsidiaries | [7],[8] | Japanese Hotel Real Estate Private Equity Fund 1 | Japanese Hotel Real Estate Private Equity Fund 1 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 100.00% | 100.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Woori G Global Multi Asset Income Private Placement Investment Trust_Class Cs | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori Global Asset Management Co., Ltd. | Held by Woori Global Asset Management Co., Ltd. | |||
Subsidiaries | [7],[8] | Woori G Global Multi Asset Income Private Placement Investment Trust_Class Cs | Woori G Global Multi Asset Income Private Placement Investment Trust_Class Cs | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 37.90% | 22.20% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Woori Innovative Growth Professional Investment Type Private Investment Trust No.1 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | [11] | Held by Woori Bank, Woori Financial Capital Co., Ltd., Woori Investment Bank Co., Ltd., Woori Savings Bank and Woori Private Equity Asset Management Co., Ltd. | Held by Woori Bank, Woori Financial Capital Co., Ltd., Woori Investment Bank Co., Ltd., Woori Savings Bank and Woori Private Equity Asset Management Co., Ltd. | ||
Subsidiaries | [7],[8] | Woori Innovative Growth Professional Investment Type Private Investment Trust No.1 | Woori Innovative Growth Professional Investment Type Private Investment Trust No.1 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 90.00% | 90.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Woori Innovative Growth Professional Investment Type Private Investment Trust No.2 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | [11] | Held by Woori Bank, Woori Financial Capital Co., Ltd., Woori Investment Bank Co., Ltd. and Woori Private Equity Asset Management Co., Ltd. | Held by Woori Bank, Woori Financial Capital Co., Ltd., Woori Investment Bank Co., Ltd. and Woori Private Equity Asset Management Co., Ltd. | ||
Subsidiaries | [7],[8] | Woori Innovative Growth Professional Investment Type Private Investment Trust No.2 | Woori Innovative Growth Professional Investment Type Private Investment Trust No.2 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 85.00% | 85.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Woori Innovative Growth New Deal Private Investment Trust No.3 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | [11] | Held by Woori Bank, Woori Financial Capital Co., Ltd., Woori Investment Bank Co., Ltd. and Woori Private Equity Asset Management Co., Ltd. | Held by Woori Bank, Woori Financial Capital Co., Ltd., Woori Investment Bank Co., Ltd. and Woori Private Equity Asset Management Co., Ltd. | ||
Subsidiaries | [7] | Woori Innovative Growth New Deal Private Investment Trust No.3 | Woori Innovative Growth New Deal Private Investment Trust No.3 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 94.30% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
WooriG GP Commitment Loan General Type Private Investment Trust No.1 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | [11] | Held by Woori Bank, Woori Financial Capital Co., Ltd., and Woori Investment Bank Co., Ltd. | Held by Woori Bank, Woori Financial Capital Co., Ltd., and Woori Investment Bank Co., Ltd. | ||
Subsidiaries | [7],[8] | WooriG GP Commitment Loan General Type Private Investment Trust No.1 | WooriG GP Commitment Loan General Type Private Investment Trust No.1 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 100.00% | 50.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | |||
WooriG Equity Bridge Loan General Type Private Investment Trust No.1 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | [11] | Held by Woori Bank, Woori Financial Capital Co., Ltd., and Woori Investment Bank Co., Ltd. | Held by Woori Bank, Woori Financial Capital Co., Ltd., and Woori Investment Bank Co., Ltd. | ||
Subsidiaries | [7],[8] | WooriG Equity Bridge Loan General Type Private Investment Trust No.1 | WooriG Equity Bridge Loan General Type Private Investment Trust No.1 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 80.00% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | |||
Heungkuk Woori Tech Company Private Placement Investment Trust No.1 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | [11] | Held by Woori bank and Woori Investment Bank Co., Ltd. | Held by Woori bank and Woori Investment Bank Co., Ltd. | ||
Subsidiaries | [7],[8] | Heungkuk Woori Tech Company Private Placement Investment TrustNo. 1 | Heungkuk Woori Tech Company Private Placement Investment TrustNo. 1 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 100.00% | 100.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Woori Global Development Infrastructure Synergy Company Private Placement Investment Trust No.1 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | [11] | Held by Woori bank and Woori Investment Bank Co., Ltd. | Held by Woori bank and Woori Investment Bank Co., Ltd. | ||
Subsidiaries | [7],[8] | Woori Global Development Infrastructure Synergy Company Private Placement Investment Trust No.1 | Woori Global Development Infrastructure Synergy Company Private Placement Investment Trust No.1 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 100.00% | 100.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Woori G North America Infra Private Placement Investment Trust No. 1 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | [11] | Held by Woori bank and Woori Investment Bank Co., Ltd. | Held by Woori bank and Woori Investment Bank Co., Ltd. | ||
Subsidiaries | [7],[8] | Woori G North America Infra Private Placement Investment TrustNo. 1 | Woori G North America Infra Private Placement Investment TrustNo. 1 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 100.00% | 100.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Woori G Infrastructure New Deal Specialized Investment Private Equity Investment Trust No. 1 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | [11] | Held by Woori bank and Woori Investment Bank Co., Ltd. | Held by Woori bank and Woori Investment Bank Co., Ltd. | ||
Subsidiaries | [7],[8] | Woori G Infrastructure New Deal Specialized Investment Private Equity Investment Trust No. 1 | Woori G Infrastructure New Deal Specialized Investment Private Equity Investment Trust No. 1 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 100.00% | 100.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
WooriG General Type Private Real Estate Investment Trust No.2 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | [11] | Held by Woori bank and Woori Investment Bank Co., Ltd. | |||
Subsidiaries | [7],[8] | WooriG General Type Private Real Estate Investment TrustNo.2 | WooriG General Type Private Real Estate Investment TrustNo.2 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 30.10% | 30.10% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
WooriG ESG Infrastructure Development General Type Private Investment Trust No.1 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | [11] | Held by Woori bank and Woori Investment Bank Co., Ltd. | Held by Woori bank and Woori Investment Bank Co., Ltd. | ||
Subsidiaries | [7],[8] | WooriG ESG Infrastructure Development General Type Private Investment Trust No.1 | WooriG ESG Infrastructure Development General Type Private Investment Trust No.1 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 100.00% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Woori G Woori Bank Partners Private Placement Investment Trust No. 1 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | [11] | Held by Woori bank | Held by Woori bank | ||
Subsidiaries | [7],[8] | WooriG WooriBank Partners General Type Private Investment Trust No.1 | WooriG WooriBank Partners General Type Private Investment Trust No.1 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 92.60% | 92.60% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | |||
WooriG General Type Private Real Estate Investment Trust No.1 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | [11] | Held by Woori bank | Held by Woori bank | ||
Subsidiaries | [7],[8] | WooriG General Type Private Real Estate Investment TrustNo.1 | WooriG General Type Private Real Estate Investment TrustNo.1 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 80.00% | 80.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | |||
WooriG Global Mid-market Secondary General Type Private Investment Trust No.1 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | [11] | Held by Woori bank | Held by Woori bank | ||
Subsidiaries | [7],[8] | WooriG Global Mid-market Secondary General Type Private Investment Trust No.1(EUR) | WooriG Global Mid-market Secondary General Type Private Investment Trust No.1(EUR) | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 80.00% | 80.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | |||
Woori G Woori Bank Partners Professional Type Private Investment Trust No. 2 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | [11] | Held by Woori bank | Held by Woori bank | ||
Subsidiaries | [7],[8] | Woori G Woori Bank Partners Professional Type Private Investment Trust No. 2 | Woori G Woori Bank Partners Professional Type Private Investment Trust No. 2 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 90.90% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | ||||
WooriG General Type Private Real Estate Investment Trust No.5 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | [11] | Held by Woori bank | Held by Woori bank | ||
Subsidiaries | [7],[8] | WooriG General Type Private Real Estate Investment TrustNo.5 | WooriG General Type Private Real Estate Investment TrustNo.5 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 87.00% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Woori G Japan Private Placement Real Estate Feeder Investment Trust No.1-1 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | [11] | Held by Woori Financial Capital Co., Ltd. | Held by Woori Financial Capital Co., Ltd. | ||
Subsidiaries | [7],[8] | Woori G Japan Private Placement Real Estate Feeder Investment Trust No.1-1 | Woori G Japan Private Placement Real Estate Feeder Investment Trust No.1-1 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 63.20% | 63.20% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | |||
Woori G Japan Private Placement Real Estate Master Investment Trust No.1 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | [11] | Held by Woori G Japan Private Placement Real Estate Feeder Investment Trust No.1-1 and Woori G Japan Investment Trust No. 1-2 | Held by Woori G Japan Private Placement Real Estate Feeder Investment Trust No.1-1 and Woori G Japan Investment Trust No. 1-2 | ||
Subsidiaries | [7],[8] | Woori G Japan Private Placement Real Estate Master Investment Trust No.1 | Woori G Japan Private Placement Real Estate Master Investment Trust No.1 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 100.00% | 100.00% | |||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | |||
Woori G Japan Private Placement Real Estate Master Investment Trust No.2-1 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | [11] | Held by Woori Financial Capital Co., Ltd. and Woori Investment Bank Co., Ltd. | Held by Woori Financial Capital Co., Ltd. and Woori Investment Bank Co., Ltd. | ||
Subsidiaries | [7],[8] | Woori G Japan Private Placement Real Estate Master Investment Trust No.2-1 | Woori G Japan Private Placement Real Estate Master Investment Trust No.2-1 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 100.00% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | |||
Woori G Japan Private Placement Real Estate Master Investment Trust No.2 | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | [11] | Held by Woori G Japan Private Placement Real Estate Master Investment Trust No.1 and Woori G Japan Private Placement Real Estate Master Investment Trust No.2-1 | Held by Woori G Japan Private Placement Real Estate Master Investment Trust No.1 and Woori G Japan Private Placement Real Estate Master Investment Trust No.2-1 | ||
Subsidiaries | [7],[8] | Woori G Japan Private Placement Real Estate Master Investment Trust No.2 | Woori G Japan Private Placement Real Estate Master Investment Trust No.2 | ||
Main business | Securities investment and others | Securities investment and others | |||
Percentage of ownership | 100.00% | ||||
Location | Korea | Korea | |||
Financial statements date of use | Dec. 31, 2021 | Dec. 31, 2020 | |||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | The entity is a structured entity for the purpose of investment in securities. 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. In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | |||
GK OK Chatan | |||||
Significant investments in subsidiaries [Abstract] | |||||
Investor | Held by Woori G Japan Private Placement Real Estate Master Investment Trust No.1 | Held by Woori G Japan Private Placement Real Estate Master Investment Trust No.1 | |||
Subsidiaries | [7] | GK OK Chatan | GK OK Chatan | ||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 99.90% | 99.90% | |||
Location | Japan | Japan | |||
Financial statements date of use | [12] | Oct. 31, 2021 | Oct. 31, 2020 | ||
Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights | The entity is a structured entity for the purpose of investment in securities. 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. 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. | |||
[1] | Net income (loss) attributable to owners of Woori Financial Capital for the year ended December 31, 2020 has been prepared on a cumulative basis since entity was included as the subsidiary. | ||||
[2] | During March 2021, the Parent company acquired a 100% equity of Woori Financial Savings Bank from the Parent company’s subsidiary Woori Financial Capital Co., Ltd. | ||||
[3] | The Parent company’s subsidiary WB Finance Co., Ltd. has changed the name to WOORI BANK (CAMBODIA) PLC. | ||||
[4] | The entity was merged with WB Finance Co., Ltd., which is a second-tier subsidiary, during prior period. | ||||
[5] | The entity is a structured entity for the purpose of asset securitization. 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. | ||||
[6] | Companies are excluded from the consolidation as of December 31, 2021. | ||||
[7] | The entity is a structured entity for the purpose of investment in securities. 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. | ||||
[8] | In accordance with the revision of the Capital Market Act, a specialized investment-type private equity fund has been changed to a general private equity fund | ||||
[9] | The entity is a ‘money trust’ under the Financial Investment Services and Capital Markets Act. 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. | ||||
[10] | As a master-feeder fund, the equity interest represent those of the masterfund held by the feeder fund. | ||||
[11] | Determined that the Group controls the investees, considering 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, by two or more subsidiaries’ investment or operation. | ||||
[12] | As financial statements at the end of the reporting period cannot be obtained, the most recent financial statements were used. |
General - Consolidated subsid_2
General - Consolidated subsidiaries and their financial information (Parenthetical) (Details) | 1 Months Ended |
Mar. 31, 2021 | |
Woori Financial Savings Bank [Member] | |
Disclosure of subsidiaries [line items] | |
Percentage of ownership | 100.00% |
General - Unconsolidated compan
General - Unconsolidated companies with more than 50 Percent ownership interests (Details) | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | |||
Mirae Asset Maps Clean Water Private Equity Investment Trust 7th | ||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||
Name of subsidiary | [1] | 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 significant judgements and assumptions made in determining that entity does not control another entity even though it holds more than half of voting rights | 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 | [1] | 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 significant judgements and assumptions made in determining that entity does not control another entity even though it holds more than half of voting rights | 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 Europe Private Placement Real Estate Fund No 163-2 | ||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||
Name of subsidiary | [1] | IGIS Europe Private Placement Real Estate Fund No. 163-2 | [2] | IGIS Europe Private Placement Real Estate Fund No. 163-2 |
Location | Korea | Korea | ||
Main Business | Securities Investment | Securities Investment | ||
Percentage of ownership | 97.90% | 97.90% | ||
Description of significant judgements and assumptions made in determining that entity does not control another entity even though it holds more than half of voting rights | 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 148-1 | ||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||
Name of subsidiary | [1] | IGIS Global Private Placement Real Estate Fund No. 148-1 | [2] | 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 significant judgements and assumptions made in determining that entity does not control another entity even though it holds more than half of voting rights | 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 | [1] | IGIS Global Private Placement Real Estate Fund No. 148-2 | [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 significant judgements and assumptions made in determining that entity does not control another entity even though it holds more than half of voting rights | 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 Seoul Ring Expressway Private Special Asset Fund No. 1 | ||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||
Name of subsidiary | [1] | Mirae Asset Seoul Ring Expressway Private Special Asset Fund No. 1 | [2] | Mirae Asset Seoul Ring Expressway Private Special Asset Fund No. 1 |
Location | Korea | Korea | ||
Main Business | Securities Investment | Securities Investment | ||
Percentage of ownership | 66.70% | 66.70% | ||
Description of significant judgements and assumptions made in determining that entity does not control another entity even though it holds more than half of voting rights | 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. | ||
Hangkang Sewage Treatment Plant Fund | ||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||
Name of subsidiary | [1] | Hangkang Sewage Treatment Plant Fund | [2] | Hangkang Sewage Treatment Plant Fund |
Location | Korea | Korea | ||
Main Business | Securities Investment | Securities Investment | ||
Percentage of ownership | 55.60% | 55.60% | ||
Description of significant judgements and assumptions made in determining that entity does not control another entity even though it holds more than half of voting rights | 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. | ||
Korea Investment Pocheon Hwado Expressway Professional Investment Fund [Member] | ||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||
Name of subsidiary | [1] | Korea Investment Pocheon Hwado Expressway Professional Investment Fund | [2] | Korea Investment Pocheon Hwado Expressway Professional Investment Fund |
Location | Korea | Korea | ||
Main Business | Securities Investment | Securities Investment | ||
Percentage of ownership | 55.20% | 55.20% | ||
Description of significant judgements and assumptions made in determining that entity does not control another entity even though it holds more than half of voting rights | 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. | ||
Midas Global Private Placement Real Estate Investment Trust No. 7-2 | ||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||
Name of subsidiary | [1] | Midas Global Private Placement Real Estate Investment Trust No. 7-2 | [2] | Midas Global Private Placement Real Estate Investment Trust No. 7-2 |
Location | Korea | Korea | ||
Main Business | Securities Investment | Securities Investment | ||
Percentage of ownership | 58.30% | 58.30% | ||
Description of significant judgements and assumptions made in determining that entity does not control another entity even though it holds more than half of voting rights | 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. | ||
Together-Korea Government Private Pool Private Securities Investment Trust No.3 | ||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||
Name of subsidiary | [1] | Together-Korea Government Private Pool Private Securities Investment Trust No.3 | [2] | Together-Korea Government Private Pool Private Securities Investment Trust No.3 |
Location | Korea | Korea | ||
Main Business | Securities Investment | Securities Investment | ||
Percentage of ownership | 100.00% | 100.00% | ||
Description of significant judgements and assumptions made in determining that entity does not control another entity even though it holds more than half of voting rights | 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. | ||
INMARK France Private Placement Investment Trust No. 18-1 | ||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||
Name of subsidiary | [1] | INMARK France Private Placement Investment Trust No. 18-1 | [2] | INMARK France Private Placement Investment Trust No. 18-1 |
Location | Korea | Korea | ||
Main Business | Securities Investment | Securities Investment | ||
Percentage of ownership | 93.80% | 93.80% | ||
Description of significant judgements and assumptions made in determining that entity does not control another entity even though it holds more than half of voting rights | 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 Vibrato Private Placement Investment Trust 1-W(EUR) | ||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||
Name of subsidiary | [1] | Kiwoom Vibrato Private Placement Investment Trust 1-W(EUR) | [2] | Kiwoom Vibrato Private Placement Investment Trust 1-W(EUR) |
Location | Korea | Korea | ||
Main Business | Securities Investment | Securities Investment | ||
Percentage of ownership | 99.50% | 99.30% | ||
Description of significant judgements and assumptions made in determining that entity does not control another entity even though it holds more than half of voting rights | 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. | ||
KOTAM Global Infrastructure Private Equity Investment Trust No. 1 4 [Member] | ||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||
Name of subsidiary | [1],[2] | KOTAM Global Infrastructure Private Equity Investment Trust No. 1-4 | ||
Location | Korea | |||
Main Business | Securities Investment | |||
Percentage of ownership | 99.70% | |||
Description of significant judgements and assumptions made in determining that entity does not control another entity even though it holds more than half of voting rights | 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 UBS Class One Private Equity No. 3 C2 [Member] | ||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||
Name of subsidiary | [1] | Hana UBS Class One Private Equity No. 3 C2 | ||
Location | Korea | |||
Main Business | Securities Investment | |||
Percentage of ownership | 51.00% | |||
Description of significant judgements and assumptions made in determining that entity does not control another entity even though it holds more than half of voting rights | 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 Gyeongju Green Private Equity Investment Trust No. 1 [Member] | ||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||
Name of subsidiary | [1],[2] | Consus Gyeongju Green Private Equity Investment Trust No. 1 | ||
Location | Korea | |||
Main Business | Securities Investment | |||
Percentage of ownership | 50.00% | |||
Description of significant judgements and assumptions made in determining that entity does not control another entity even though it holds more than half of voting rights | 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 Harmony Private Placement Investment Trust No. 3 [Member] | ||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||
Name of subsidiary | [1],[2] | Kiwoom Harmony Private Placement Investment Trust No. 3 | ||
Location | Korea | |||
Main Business | Securities Investment | |||
Percentage of ownership | 77.40% | |||
Description of significant judgements and assumptions made in determining that entity does not control another entity even though it holds more than half of voting rights | 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 Solar Energy Private Placement Investment Trust No.1 [Member] | ||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||
Name of subsidiary | [1] | Consus Solar Energy Private Placement Investment Trust No.1 | ||
Location | Korea | |||
Main Business | Securities Investment | |||
Percentage of ownership | 50.00% | |||
Description of significant judgements and assumptions made in determining that entity does not control another entity even though it holds more than half of voting rights | 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. | |||
[2] | In accordance with the revision of the Capital Market Act, a hedge fund has been changed to a private equity fund. |
General - Limitations on transf
General - Limitations on transfer of assets or the redemption of liabilities within the Group (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of information about consolidated structured entities [line items] | ||
purchase commitment | ₩ 2,263,387 | ₩ 854,231 |
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 which 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 throughprovision of 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. | |
Credit facilities provided to structured entities | As of December 31, 2020 and 2021, the Group provides 2,547,418 million Won and 2,480,131 million Won and of credit facilities, respectively, for the structured entities mentioned above. | |
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 acquire beneficiary certificates through its contribution of funding to the structured entity by the Group, 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. | |
Credit facilities provided to structured entities | As of December 31, 2020 and 2021, the Group provides 2,547,418 million Won and 2,480,131 million Won and of credit facilities, respectively, for the structured entities mentioned above. | |
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. | |
Credit facilities provided to structured entities | As of December 31, 2020 and 2021, the Group provides 2,547,418 million Won and 2,480,131 million Won and of credit facilities, respectively, for the structured entities mentioned above. |
General - Financial information
General - Financial informations Maximum exposure and Loss recognised of unconsolidated structured entities (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of unconsolidated structured entities [line items] | ||
Investments in MMF(Money Market Funds) | ₩ 427,375 | ₩ 853,140 |
Asset securitization vehicle | ||
Disclosure of unconsolidated structured entities [line items] | ||
The maximum exposure to risks | 8,739,034 | 970,628 |
Investment assets | 8,518,101 | 648,700 |
Credit facilities and others | 220,933 | 321,928 |
Loss recognized on unconsolidated structured entities | ₩ 183 | ₩ 0 |
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 distribute dividends on asset-backed securities through borrowings or profits from the management, operation and sale of securitized assets. The Group has been purchasing commitments of asset-backed securities or issuing asset-backed securities through credit grants, and recognizes related interest or fee revenue. There are entities that provide additional funding and conditional debt acquisition commitments 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 distribute dividends on asset-backed securities through borrowings or profits from the management, operation and sale of securitized assets. The Group has been purchasing commitments of asset-backed securities or issuing asset-backed securities through credit grants, and recognizes related interest or fee revenue. There are entities that provide additional funding and conditional debt acquisition commitments 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 | Assets [member] | ||
Disclosure of unconsolidated structured entities [line items] | ||
Total asset of the unconsolidated structured entities | ₩ 15,640,521 | ₩ 3,900,254 |
Assets recognised in entity's financial statements in relation to structured entities | 8,518,101 | 648,700 |
Asset securitization vehicle | Financial assets at FVTPL | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognised in entity's financial statements in relation to structured entities | 374,423 | 374,231 |
Asset securitization vehicle | Financial assets at FVTOCI | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognised in entity's financial statements in relation to structured entities | 3,878,882 | 163,808 |
Asset securitization vehicle | Financial assets at amortized cost | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognised in entity's financial statements in relation to structured entities | 4,264,626 | 109,008 |
Asset securitization vehicle | Investments in joint ventures and associates | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognised in entity's financial statements in relation to structured entities | 0 | 0 |
Asset securitization vehicle | Derivative assets | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognised in entity's financial statements in relation to structured entities | 170 | 1,653 |
Asset securitization vehicle | Derivative liabilities | ||
Disclosure of unconsolidated structured entities [line items] | ||
Liabilities recognised in entity's financial statements in relation to structured entities | 0 | |
Asset securitization vehicle | Other liabilities (provisions) | ||
Disclosure of unconsolidated structured entities [line items] | ||
Liabilities recognised in entity's financial statements in relation to structured entities | 677 | 130 |
Asset securitization vehicle | Liabilities [member] | ||
Disclosure of unconsolidated structured entities [line items] | ||
Liabilities recognised in entity's financial statements in relation to structured entities | 677 | 130 |
Unconsolidated structured entities [member] | ||
Disclosure of unconsolidated structured entities [line items] | ||
Unconsolidated purchase commitment | 3,033,231 | 4,266,319 |
Structured finance [Member] | ||
Disclosure of unconsolidated structured entities [line items] | ||
The maximum exposure to risks | 5,728,977 | 5,366,037 |
Investment assets | 4,633,475 | 4,291,535 |
Credit facilities and others | 1,095,502 | 1,074,502 |
Loss recognized on unconsolidated structured entities | ₩ 11,872 | ₩ 6,079 |
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 companies for ship (aircraft) financing. Each entity is incorporated as a separate company with a limited purpose in order to efficiently pursue business goals and the fund is raised by equity investment or loans from financial institutions and participating institutions. ‘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, profit or loss from assessment or transactions of financial instruments, 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 companies for ship (aircraft) financing. Each entity is incorporated as a separate company with a limited purpose in order to efficiently pursue business goals and the fund is raised by equity investment or loans from financial institutions and participating institutions. ‘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, profit or loss from assessment or transactions of financial instruments, 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 [Member] | Assets [member] | ||
Disclosure of unconsolidated structured entities [line items] | ||
Total asset of the unconsolidated structured entities | ₩ 94,969,317 | ₩ 69,010,369 |
Assets recognised in entity's financial statements in relation to structured entities | 4,633,475 | 4,291,535 |
Structured finance [Member] | Financial assets at FVTPL | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognised in entity's financial statements in relation to structured entities | 5,021 | 167,271 |
Structured finance [Member] | Financial assets at FVTOCI | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognised in entity's financial statements in relation to structured entities | 46,478 | 41,378 |
Structured finance [Member] | Financial assets at amortized cost | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognised in entity's financial statements in relation to structured entities | 4,579,367 | 4,072,321 |
Structured finance [Member] | Investments in joint ventures and associates | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognised in entity's financial statements in relation to structured entities | 0 | 5,958 |
Structured finance [Member] | Derivative assets | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognised in entity's financial statements in relation to structured entities | 2,609 | 4,607 |
Structured finance [Member] | Derivative liabilities | ||
Disclosure of unconsolidated structured entities [line items] | ||
Liabilities recognised in entity's financial statements in relation to structured entities | 673 | |
Structured finance [Member] | Other liabilities (provisions) | ||
Disclosure of unconsolidated structured entities [line items] | ||
Liabilities recognised in entity's financial statements in relation to structured entities | 863 | 963 |
Structured finance [Member] | Liabilities [member] | ||
Disclosure of unconsolidated structured entities [line items] | ||
Liabilities recognised in entity's financial statements in relation to structured entities | 1,536 | 963 |
Investment Funds | ||
Disclosure of unconsolidated structured entities [line items] | ||
The maximum exposure to risks | 4,221,072 | 3,438,924 |
Investment assets | 4,214,747 | 3,350,605 |
Credit facilities and others | 6,325 | 88,319 |
Loss recognized on unconsolidated structured entities | ₩ 71,309 | ₩ 25,454 |
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 accordancewith 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 accordancewith 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 | Assets [member] | ||
Disclosure of unconsolidated structured entities [line items] | ||
Total asset of the unconsolidated structured entities | ₩ 94,675,732 | ₩ 44,629,638 |
Assets recognised in entity's financial statements in relation to structured entities | 4,214,747 | 3,350,605 |
Investment Funds | Financial assets at FVTPL | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognised in entity's financial statements in relation to structured entities | 3,550,532 | 2,922,716 |
Investment Funds | Financial assets at FVTOCI | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognised in entity's financial statements in relation to structured entities | 0 | 0 |
Investment Funds | Financial assets at amortized cost | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognised in entity's financial statements in relation to structured entities | 71,662 | 39,955 |
Investment Funds | Investments in joint ventures and associates | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognised in entity's financial statements in relation to structured entities | 592,553 | 387,902 |
Investment Funds | Derivative assets | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognised in entity's financial statements in relation to structured entities | 0 | 32 |
Investment Funds | Derivative liabilities | ||
Disclosure of unconsolidated structured entities [line items] | ||
Liabilities recognised in entity's financial statements in relation to structured entities | 0 | |
Investment Funds | Other liabilities (provisions) | ||
Disclosure of unconsolidated structured entities [line items] | ||
Liabilities recognised in entity's financial statements in relation to structured entities | 0 | 0 |
Investment Funds | Liabilities [member] | ||
Disclosure of unconsolidated structured entities [line items] | ||
Liabilities recognised in entity's financial statements in relation to structured entities | 0 | 0 |
Real estate trust | ||
Disclosure of unconsolidated structured entities [line items] | ||
The maximum exposure to risks | 115,212 | 65,722 |
Investment assets | 54,662 | 22,402 |
Credit facilities and others | 60,550 | 43,320 |
Loss recognized on unconsolidated structured entities | ₩ 282 | ₩ 2,363 |
Disclosure of information about interests in structured entity | ‘Real estate trust’ is to be entrusted the underlying property for the purpose of managing, disposing, operating or developing from the consignor who owns the property and distributes the proceeds achieved through the trust to the beneficiary. When the consignee does not fulfill his or her important obligations in the trust contract or it is, in fact, difficult to run the business, the Group may be exposed to the threat of compensating the loss. | ‘Real estate trust’ is to be entrusted the underlying property for the purpose of managing, disposing, operating or developing from the consignor who owns the property and distributes the proceeds achieved through the trust to the beneficiary. When the consignee does not fulfill his or her important obligations in the trust contract or it is, in fact, difficult to run the business, the Group may be exposed to the threat of compensating the loss. |
Real estate trust | Assets [member] | ||
Disclosure of unconsolidated structured entities [line items] | ||
Total asset of the unconsolidated structured entities | ₩ 1,398,508 | ₩ 76,772 |
Assets recognised in entity's financial statements in relation to structured entities | 54,662 | 22,402 |
Real estate trust | Financial assets at FVTPL | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognised in entity's financial statements in relation to structured entities | 10,665 | 0 |
Real estate trust | Financial assets at FVTOCI | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognised in entity's financial statements in relation to structured entities | 0 | 0 |
Real estate trust | Financial assets at amortized cost | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognised in entity's financial statements in relation to structured entities | 43,997 | 22,402 |
Real estate trust | Investments in joint ventures and associates | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognised in entity's financial statements in relation to structured entities | 0 | 0 |
Real estate trust | Derivative assets | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognised in entity's financial statements in relation to structured entities | 0 | 0 |
Real estate trust | Derivative liabilities | ||
Disclosure of unconsolidated structured entities [line items] | ||
Liabilities recognised in entity's financial statements in relation to structured entities | 0 | |
Real estate trust | Other liabilities (provisions) | ||
Disclosure of unconsolidated structured entities [line items] | ||
Liabilities recognised in entity's financial statements in relation to structured entities | 2,964 | 400 |
Real estate trust | Liabilities [member] | ||
Disclosure of unconsolidated structured entities [line items] | ||
Liabilities recognised in entity's financial statements in relation to structured entities | ₩ 2,964 | ₩ 400 |
General - Noncontrolling intere
General - Noncontrolling interests (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Woori bank | ||||
Disclosure of subsidiaries [line items] | ||||
Accumulated non-controlling interests at the end of the reporting period | [1] | ₩ 2,555,166 | ₩ 3,105,070 | |
Net income attributable to non-controlling interests | [2] | 144,923 | 162,362 | ₩ 134,421 |
Dividends to non-controlling interests | [2] | 144,923 | 162,362 | 134,421 |
Woori Financial Capital Co., Ltd. | ||||
Disclosure of subsidiaries [line items] | ||||
Accumulated non-controlling interests at the end of the reporting period | 0 | 166,369 | ||
Net income attributable to non-controlling interests | 17,949 | 1,466 | ||
Dividends to non-controlling interests | 4,121 | 0 | 0 | |
Woori Investment Bank Co., Ltd. | ||||
Disclosure of subsidiaries [line items] | ||||
Accumulated non-controlling interests at the end of the reporting period | 251,879 | 222,289 | ||
Net income attributable to non-controlling interests | 33,274 | 25,643 | 21,588 | |
Dividends to non-controlling interests | 3,610 | 0 | 0 | |
Woori Asset Trust Co., Ltd. | ||||
Disclosure of subsidiaries [line items] | ||||
Accumulated non-controlling interests at the end of the reporting period | 60,726 | 49,738 | ||
Net income attributable to non-controlling interests | 11,366 | 9,732 | ||
Dividends to non-controlling interests | 365 | 365 | ||
Woori Asset Management Corp. | ||||
Disclosure of subsidiaries [line items] | ||||
Accumulated non-controlling interests at the end of the reporting period | 33,768 | 31,369 | ||
Net income attributable to non-controlling interests | 2,341 | 1,699 | 408 | |
PT Bank Woori Saudara Indonesia 1906 Tbk | ||||
Disclosure of subsidiaries [line items] | ||||
Accumulated non-controlling interests at the end of the reporting period | 87,741 | 79,890 | ||
Net income attributable to non-controlling interests | 8,619 | 6,040 | 8,502 | |
Dividends to non-controlling interests | 1,262 | 1,669 | 1,981 | |
Wealth Development Bank | ||||
Disclosure of subsidiaries [line items] | ||||
Accumulated non-controlling interests at the end of the reporting period | 20,835 | 19,521 | ||
Net income attributable to non-controlling interests | ₩ 928 | ₩ 1,130 | ₩ 427 | |
[1] | Hybrid securities issued by Woori Bank | |||
[2] | Distribution of the hybrid securities issued by Woori Bank |
Significant basis of preparatio
Significant basis of preparation and accounting policies - Basis of presentation (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting policies [Abstract] | |
Basis of preparation of financial statements | 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, 2021 |
Period covered by financial statements | For the years ended December 31, 2021 |
Description of presentation currency | Korean Won |
Description of functional currency | Korean Won |
Level of rounding used in financial statements | Korean Won in millions |
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 1,188.6 Korean Won to US$1.00, the noon buying exchange rate in effect on December 31, 2021, 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, as described in following paragraphs of accounting policy, are prepared at the end of each reporting period in historical cost basis, except for certain non-current |
Significant basis of preparat_2
Significant basis of preparation and accounting policies - Disclosure details of banks financial instruments pending conversion to Interest rate benchmark (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | |
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Financial assets at FVTOCI | ₩ 39,119,789 | $ 32,912,493 | ₩ 30,028,929 | |
Financial assets at amortized cost | 379,019,146 | 337,126,917 | ||
Carrying amount of financial assets | 431,742,933 | 382,093,607 | ||
Financial liabilities at amortized cost | 411,199,211 | 363,510,489 | ||
Nominal amount | 390,720,160 | ₩ 353,660,429 | ||
USD | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | [1],[2] | 64,120,197 | ||
USD | Non Derivative Financial Liabilities [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Financial liabilities at amortized cost | [1],[2] | 657,953 | ||
USD | Interest Rate Related Derivative Liabilities Held For Trading [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | [1],[2] | 26,757,719 | ||
USD | Currency Related Derivative Liabilities Held For Trading [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | [1],[2] | 35,169,303 | ||
USD | Interest Rate Derivative Liabilities Held For Hedging [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | [1],[2] | 2,193,175 | ||
USD | Commitment And Financial Guarantees [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | [1],[2] | 1,167 | ||
USD | Non Derivative Financial Assets [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Financial assets at FVTOCI | [1],[2] | 662,878 | ||
Financial assets at amortized cost | [1],[2] | 5,204,049 | ||
Carrying amount of financial assets | [1],[2] | 5,866,927 | ||
EUR | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | 0 | |||
EUR | Non Derivative Financial Liabilities [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Financial liabilities at amortized cost | 0 | |||
EUR | Interest Rate Related Derivative Liabilities Held For Trading [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | 0 | |||
EUR | Currency Related Derivative Liabilities Held For Trading [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | 0 | |||
EUR | Interest Rate Derivative Liabilities Held For Hedging [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | 0 | |||
EUR | Commitment And Financial Guarantees [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | 7,374 | |||
EUR | Non Derivative Financial Assets [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Financial assets at FVTOCI | 0 | |||
Financial assets at amortized cost | 24,514 | |||
Carrying amount of financial assets | 24,514 | |||
GBP | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | 752,118 | |||
GBP | Non Derivative Financial Liabilities [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Financial liabilities at amortized cost | 0 | |||
GBP | Interest Rate Related Derivative Liabilities Held For Trading [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | 344,854 | |||
GBP | Currency Related Derivative Liabilities Held For Trading [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | 407,264 | |||
GBP | Interest Rate Derivative Liabilities Held For Hedging [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | 0 | |||
GBP | Commitment And Financial Guarantees [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | 0 | |||
GBP | Non Derivative Financial Assets [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Financial assets at FVTOCI | 0 | |||
Financial assets at amortized cost | 134,369 | |||
Carrying amount of financial assets | 134,369 | |||
JPY | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | 175,422 | |||
JPY | Non Derivative Financial Liabilities [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Financial liabilities at amortized cost | 0 | |||
JPY | Interest Rate Related Derivative Liabilities Held For Trading [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | 0 | |||
JPY | Currency Related Derivative Liabilities Held For Trading [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | 175,422 | |||
JPY | Interest Rate Derivative Liabilities Held For Hedging [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | 0 | |||
JPY | Commitment And Financial Guarantees [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | 1,854 | |||
JPY | Non Derivative Financial Assets [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Financial assets at FVTOCI | 0 | |||
Financial assets at amortized cost | 87,788 | |||
Carrying amount of financial assets | 87,788 | |||
CHF | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | 1,297 | |||
CHF | Non Derivative Financial Liabilities [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Financial liabilities at amortized cost | 0 | |||
CHF | Interest Rate Related Derivative Liabilities Held For Trading [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | 1,297 | |||
CHF | Currency Related Derivative Liabilities Held For Trading [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | 0 | |||
CHF | Interest Rate Derivative Liabilities Held For Hedging [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | 0 | |||
CHF | Commitment And Financial Guarantees [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | 0 | |||
CHF | Non Derivative Financial Assets [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Financial assets at FVTOCI | 0 | |||
Financial assets at amortized cost | 0 | |||
Carrying amount of financial assets | 0 | |||
BBSW | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | 128,834 | |||
BBSW | Non Derivative Financial Liabilities [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Financial liabilities at amortized cost | 0 | |||
BBSW | Interest Rate Related Derivative Liabilities Held For Trading [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | 0 | |||
BBSW | Currency Related Derivative Liabilities Held For Trading [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | 0 | |||
BBSW | Interest Rate Derivative Liabilities Held For Hedging [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | 128,834 | |||
BBSW | Commitment And Financial Guarantees [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | 0 | |||
BBSW | Non Derivative Financial Assets [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Financial assets at FVTOCI | 0 | |||
Financial assets at amortized cost | 0 | |||
Carrying amount of financial assets | 0 | |||
Interest Rate Substitution Class [Member] | USD | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | [1] | 63,690,407 | ||
Interest Rate Substitution Class [Member] | USD | Non Derivative Financial Liabilities [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Financial liabilities at amortized cost | [1] | 574,968 | ||
Interest Rate Substitution Class [Member] | USD | Interest Rate Related Derivative Liabilities Held For Trading [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | [1] | 26,327,929 | ||
Interest Rate Substitution Class [Member] | USD | Currency Related Derivative Liabilities Held For Trading [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | [1] | 35,169,303 | ||
Interest Rate Substitution Class [Member] | USD | Interest Rate Derivative Liabilities Held For Hedging [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | [1] | 2,193,175 | ||
Interest Rate Substitution Class [Member] | USD | Commitment And Financial Guarantees [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Nominal amount | [1] | 0 | ||
Interest Rate Substitution Class [Member] | USD | Non Derivative Financial Assets [Member] | Financial Instruments That Have Not Completed Conversion To Interest Rate Benchmark [Member] | ||||
Disclosure Details Of Banks Financial Instruments Pending Conversion To Interest Rate Benchmark [Line Items] | ||||
Financial assets at FVTOCI | [1] | 194,084 | ||
Financial assets at amortized cost | [1] | 2,337,327 | ||
Carrying amount of financial assets | [1] | ₩ 2,531,411 | ||
[1] | Financial instruments related to USD Libor (overnight rate, 1, 3, 6, 12 month rates) that are expired before June 30, 2023 are excluded. | |||
[2] | For contracts that do not have an interest rate alternative clause, we are in the process of negotiating to add an interest rate alternative clause. |
Significant basis of preparat_3
Significant basis of preparation and accounting policies - Newly adopted standards and interpretations that affected the Groups accounting policies (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Amendments to IFRS 3 Business Combination | |
Disclosure of initial application of standards or interpretations [Line Items] | |
Title of initially applied IFRS | IFRS 3 Business Combination |
Description of nature of change in accounting policy | The amendments update a reference of definition of assets and liabilities qualify for recognition in revised Conceptual Framework for Financial Reporting. However, the amendments add an exception for the recognition of liabilities and contingent liabilities within the scope of IAS 37 Provisions, Contingent Liabilities and Contingent Assets, and IFRIC 21 Levies. The amendments also confirm that contingent assets should not be recognized at the acquisition date. The amendments should be applied for annual periods beginning on or after January 1, 2022, and earlier application is permitted. |
Description of fact that impact of initial application of new IFRS is not known or reasonably estimable | The Group does not expect that these amendments have a significant impact on the financial statements. |
Amendments to IFRS 16 Lease | |
Disclosure of initial application of standards or interpretations [Line Items] | |
Title of initially applied IFRS | IFRS 16 Leases |
Description of nature of change in accounting policy | As a practical expedient, a lessee may elect not to assess whether a rent concession occurring as a direct consequence of the COVID-19 pandemic is a lease modification. The scope of the practical expedient has been expanded to reduce lease fees that affect lease payments due on or before June 30, 2022. Lessee should consistently apply practical expedients to contracts with similar characteristics in similar circumstances. |
Description of fact that impact of initial application of new IFRS is not known or reasonably estimable | Please see Note 42 for the details of the amount recognized in profit or loss during the reporting period to reflect changes in lease payments arising from the rent concession. |
Significant basis of preparat_4
Significant basis of preparation and accounting policies - Not applied IFRS issued but are not yet effective (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Description of expected impact of initial application of new standards or interpretations [Abstract] | |
Description of issued and published standards not yet reached the effective date and the group has not applied at an earlier date not expected to affect the group | 2) The details of IFRSs that have been issued and published as of the date of issue approval of financial statements but have not yet reached the effective date, and which the Group has not applied at an earlier date are as follows: ① Amendments to IFRS 3 Business Combination—Reference to the Conceptual Framework The amendments update a reference of definition of assets and liabilities qualify for recognition in revised Conceptual Framework for Financial Reporting. However, the amendments add an exception for the recognition of liabilities and contingent liabilities within the scope of IAS 37 Provisions, Contingent Liabilities and Contingent Assets, and IFRIC 21 Levies. The amendments also confirm that contingent assets should not be recognized at the acquisition date. The amendments should be applied for annual periods beginning on or after January 1, 2022, and earlier application is permitted. The Group does not expect that these amendments have a significant impact on the financial statements. ② Amendments to IAS 37 Provisions, Contingent Liabilities and Contingent Assets—Onerous Contracts: Cost of Fulfilling a Contract The amendments clarify that the direct costs of fulfilling a contract include both the incremental costs of fulfilling the contract and an allocation of other costs directly related to fulfilling contracts when assessing whether the contract is onerous. The amendments should be applied for annual periods beginning on or after January 1, 2022, and earlier application is permitted. The Group does not expect that these amendments have a significant impact on the financial statements. ③ Amendments to IAS 16 Property, Plant and Equipment—Proceeds before intended use The amendments prohibit an entity from deducting from the cost of an item of property, plant and equipment any proceeds from selling items produced while the entity is preparing the asset for its intended use. Instead, the entity will recognize the proceeds from selling such items, and the costs of producing those items, in profit or loss. The amendments should be applied for annual periods beginning on or after January 1, 2022, and earlier application is permitted. The Group does not expect that these amendments have a significant impact on the financial statements. ④ Annual Improvements to IFRSs 2018-2020 Annual improvements of IFRSs 2018-2020 Cycle should be applied for annual periods beginning on or after January 1, 2022, and earlier application is permitted. The Group does not expect that these amendments have a significant impact on the financial statements. • IFRS 1 First time Adoption of Korean International Financial Reporting Standards- Subsidiaries that are first-time adopters • IFRS 9 Financial Instruments - Fees related to the 10% test for derecognition of financial liabilities • IFRS 16 Leases- Lease incentives • IAS 41 Agriculture - Measuring fair value ⑤ Amendments to IAS 1 Presentation of Financial Statements—Classification of Liabilities as Current or Non-current The amendments clarify that liabilities are classified as either current or non-current, depending on the substantive rights that exist at the end of the reporting period. Classification is unaffected by the likelihood that an entity will exercise right to defer settlement of the liability or the expectations of management. Also, the settlement of liability include the transfer of the entity’s own equity instruments, however, it would be excluded if an option to settle them by the entity’s own equity instruments if compound financial instruments is met the definition of equity instruments and recognized separately from the liability. The amendments should be applied for annual periods beginning on or after January 1, 2023, and earlier application is permitted. The Group does not expect that these amendments have a significant impact on the financial statements. ⑥ Amendments to IAS 1 ‘Presentation of Financial Statements’—Disclosure of ‘Accounting Policy’ To define and disclose material accounting policies, and to provide guidance on how to apply the concept of materiality, ‘Accounting Policy Disclosure’ of the IFRS Practice Statement 2 has been amended. These amendments apply for annual periods beginning on or after January 1, 2023, and early application is permitted. The Group does not expect that these amendments have a significant impact on the financial statements. ⑦ Amendments to IAS 8 ‘Accounting Policies, Changes in Accounting Estimates and Errors’—Definition of ‘Accounting Estimates’ The amendments have defined accounting estimates and clarified how to distinguish them from changes in accounting policies. These amendments apply for annual periods beginning on or after January 1, 2023, and early application is permitted. The Group does not expect that these amendments have a significant impact on the financial statements. ⑧ Amendments to IAS 12 ‘Income Taxes’—deferred tax related to assets and liabilities arising from a single transaction Additional phrase ‘the temporary difference to be added and the temporary difference to be deducted do not occur in the same amount’ has been added to initial recognition exception for a transaction in which an asset or liability is initially recognized. These amendments apply for annual periods beginning on or after January 1, 2023, and early application is permitted. The Group does not expect that these amendments have a significant impact on the financial statements. The above enacted or amended standards will not have a significant impact on the Group. |
Significant basis of preparat_5
Significant basis of preparation and accounting policies - Estimated economic useful lives for premises and equipment except for land (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Buildings used for business purpose | |
Disclosure of property plant and equipment [Line Items] | |
Useful life for property plant and equipment | 35 to 57 years |
Structures in leased office | |
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 |
Significant basis of preparat_6
Significant basis of preparation and accounting policies - Estimated useful life for intangible assets (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Industrial property rights | |
Disclosure of intangible assets with indefinite useful life [Line Items] | |
Useful life for intangible assets | 5 to 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 | 1 to 10 years |
Significant basis of preparat_7
Significant basis of preparation and accounting policies - Impacts to the financial statements due to the exercise of the extension and termination options (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Presentation of leases for lessee [abstract] | |
Information about lessee's exposure arising from extension options and termination options | Lease liabilities and right-of-use-asset increased by 9,076 million Won, reflecting the exercise impact of the extension and termination options during the current term. |
Significant accounting estima_4
Significant accounting estimates and assumptions - Impact on expected credit losses and loan principal and interest payments due to covid 19 (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Woori Card Co., Ltd. | |
Description of impact of deferred loan principal and interest due to covid-19 [Line Items] | |
Description of impact of deferred loan principal and interest due to covid-19 | As of December 31, 2021, financial assets at amortized cost of obligors subject to loan deferment and interest deferment amount to 7,217 million Won, and the cumulative expected credit loss allowance has increased for 170 million Won. |
Woori Financial Capital Co., Ltd. | |
Description of impact of deferred loan principal and interest due to covid-19 [Line Items] | |
Description of impact of deferred loan principal and interest due to covid-19 | As a result, as of December 31, 2021, financial assets at amortized cost of obligors subject to loan deferment and interest deferment amount to 103,974 million Won and cumulative expected credit loss allowance has increased for 15,916 million Won. |
Significant Accounting Estima_5
Significant Accounting Estimates and Assumptions - Disclosure in tabular form of Woori Bank loan deferment interest deferment and reclassification from twelve month expected credit losses to life time expected credit losses (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure In Tabular Form Of Loan Deferment Interest Deferment And Reclassification From Twelve Month Expected Credit Losses To Life Time Expected Credit Losses [Line Items] | ||
Total loans (Loans, payment guarantees) that are subject to loan deferment and interest deferment | ₩ 2,595,642 | ₩ 1,820,324 |
Total loans changed its stage from 12-month to lifetime (Stage 2) expected credit losses | 2,260,412 | 1,650,526 |
The expected credit loss allowances that are additionally recognized | 284,714 | 219,231 |
Corporates [Member] | Woori bank [Member] | ||
Disclosure In Tabular Form Of Loan Deferment Interest Deferment And Reclassification From Twelve Month Expected Credit Losses To Life Time Expected Credit Losses [Line Items] | ||
Total loans (Loans, payment guarantees) that are subject to loan deferment and interest deferment | 2,428,496 | 1,697,899 |
The expected credit loss allowances that are additionally recognized | 275,057 | 210,173 |
General retail [Member] | Woori bank [Member] | ||
Disclosure In Tabular Form Of Loan Deferment Interest Deferment And Reclassification From Twelve Month Expected Credit Losses To Life Time Expected Credit Losses [Line Items] | ||
Total loans (Loans, payment guarantees) that are subject to loan deferment and interest deferment | 167,146 | 122,425 |
The expected credit loss allowances that are additionally recognized | 9,657 | 9,058 |
Lifetime expected credit losses [member] | Corporates [Member] | Woori bank [Member] | ||
Disclosure In Tabular Form Of Loan Deferment Interest Deferment And Reclassification From Twelve Month Expected Credit Losses To Life Time Expected Credit Losses [Line Items] | ||
Total loans changed its stage from 12-month to lifetime (Stage 2) expected credit losses | 2,125,492 | 1,548,805 |
Lifetime expected credit losses [member] | General retail [Member] | Woori bank [Member] | ||
Disclosure In Tabular Form Of Loan Deferment Interest Deferment And Reclassification From Twelve Month Expected Credit Losses To Life Time Expected Credit Losses [Line Items] | ||
Total loans changed its stage from 12-month to lifetime (Stage 2) expected credit losses | ₩ 134,920 | ₩ 101,721 |
Significant Accounting Estima_6
Significant Accounting Estimates and Assumptions - Disclosure in tabular form of impact on the allowance of credit losses due to the application of the future economic forecast activity (Details) - Woori bank [Member] ₩ in Millions | Dec. 31, 2021KRW (₩) |
Disclosure In Tabular Form Of Impact On The Allowance Of Credit Losses Due To The Application Of The Future Economic Forecast Activity [Line Items] | |
Increase in expected credit loss allowance | ₩ 54,820 |
Corporates [Member] | |
Disclosure In Tabular Form Of Impact On The Allowance Of Credit Losses Due To The Application Of The Future Economic Forecast Activity [Line Items] | |
Increase in expected credit loss allowance | 48,583 |
General retail [Member] | |
Disclosure In Tabular Form Of Impact On The Allowance Of Credit Losses Due To The Application Of The Future Economic Forecast Activity [Line Items] | |
Increase in expected credit loss allowance | ₩ 6,237 |
Significant accounting estima_7
Significant accounting estimates and assumptions - Estimates and assumptions (Details) | 12 Months Ended |
Dec. 31, 2021 | |
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 estimate is 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 ‘2. Basis of Preparation and Significant Accounting Policies (9) 5) Fair value of financial instruments’, 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 estimate is 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 | The accuracy of the provision for credit losses is determined by the estimation of the expected cash flows for each tenant for estimating the individually assessed loan-loss allowance, and the assumptions and variables in the model used for estimating the collectively assessed loan-loss allowance payment, guarantee and unused commitment.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.Information on measuring expected credit loss is described in ‘4. Risk Management (1) 2) Measurement of expected credit loss’. |
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 estimate is impracticable | The defined benefit plan, due to its long-term nature, contains significant uncertainties in its estimates. |
Significant accounting estima_8
Significant accounting estimates and assumptions - Additional Information (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of changes in accounting estimates [line items] | ||
Loans subject to deferred repayment inclusive of interest | ₩ 2,595,642 | ₩ 1,820,324 |
Financial assets at amortised cost, class [member] | Woori card [Member] | ||
Disclosure of changes in accounting estimates [line items] | ||
Loans subject to deferred repayment inclusive of interest | 7,217 | |
Financial assets at amortised cost, class [member] | Woori Financial Capital Co., Ltd. [Member] | ||
Disclosure of changes in accounting estimates [line items] | ||
Loans subject to deferred repayment inclusive of interest | 103,974 | |
Covid Nineteen [Member] | Financial assets at amortised cost, class [member] | Woori card [Member] | ||
Disclosure of changes in accounting estimates [line items] | ||
Cumulative increase in the expected credit losses | 170 | |
Covid Nineteen [Member] | Financial assets at amortised cost, class [member] | Woori Financial Capital Co., Ltd. [Member] | ||
Disclosure of changes in accounting estimates [line items] | ||
Cumulative increase in the expected credit losses | ₩ 15,916 |
Risk Management - Probability w
Risk Management - Probability weights applied to the scenarios of the forecasts of macroeconomic variables (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Basic scenario | |
Disclosure of sensitivity analysis for expected credit loss provisions [Line Items] | |
Woori Bank's probability weights for multiple economic scenario | 55.59% |
Upside scenario | |
Disclosure of sensitivity analysis for expected credit loss provisions [Line Items] | |
Woori Bank's probability weights for multiple economic scenario | 13.37% |
Downside scenario | |
Disclosure of sensitivity analysis for expected credit loss provisions [Line Items] | |
Woori Bank's probability weights for multiple economic scenario | 31.04% |
Risk Management - Disclosure in
Risk Management - Disclosure in tabular form of macroeconomic forecasts for the forthcoming financial year (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Basic scenario [Member] | |
Disclosure In Tabular Form Of Macroeconomic Forecasts For The Forthcoming Financial Year [Line Items] | |
GDP growth rate | 3.00% |
Personal consumption expenditures price index rate | 3.60% |
Consumer price index rate | 2.00% |
Upside scenario [Member] | |
Disclosure In Tabular Form Of Macroeconomic Forecasts For The Forthcoming Financial Year [Line Items] | |
GDP growth rate | 3.22% |
Personal consumption expenditures price index rate | 4.01% |
Consumer price index rate | 2.10% |
Downside scenario [Member] | |
Disclosure In Tabular Form Of Macroeconomic Forecasts For The Forthcoming Financial Year [Line Items] | |
GDP growth rate | 2.60% |
Personal consumption expenditures price index rate | 2.85% |
Consumer price index rate | 1.82% |
Risk Management - Bank's sensit
Risk Management - Bank's sensitivity analysis on expected credit loss provisions (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
GDP growth rate | Increase by 1% point | Corporates [Member] | ||
Disclosure of sensitivity analysis for expected credit loss provisions [Line Items] | ||
Decrease in expected credit loss provisions due to reasonably possible decrease in macroeconomic indicators | ₩ (68,140) | ₩ (86,086) |
GDP growth rate | Increase by 1% point | General retail [Member] | ||
Disclosure of sensitivity analysis for expected credit loss provisions [Line Items] | ||
Decrease in expected credit loss provisions due to reasonably possible decrease in macroeconomic indicators | (8,798) | |
GDP growth rate | Decrease by 1% point | Corporates [Member] | ||
Disclosure of sensitivity analysis for expected credit loss provisions [Line Items] | ||
Increase in expected credit loss provisions due to increase in macroeconomic indicators | 74,495 | 96,177 |
GDP growth rate | Decrease by 1% point | General retail [Member] | ||
Disclosure of sensitivity analysis for expected credit loss provisions [Line Items] | ||
Increase in expected credit loss provisions due to increase in macroeconomic indicators | 9,163 | |
Cosumer Price Index Rate [Member] | Increase by 1% point | General retail [Member] | ||
Disclosure of sensitivity analysis for expected credit loss provisions [Line Items] | ||
Decrease in expected credit loss provisions due to reasonably possible decrease in macroeconomic indicators | (29,469) | (15,807) |
Cosumer Price Index Rate [Member] | Decrease by 1% point | General retail [Member] | ||
Disclosure of sensitivity analysis for expected credit loss provisions [Line Items] | ||
Increase in expected credit loss provisions due to increase in macroeconomic indicators | 34,352 | ₩ 17,119 |
Personal consumption expenditures price index rate | Increase by 1% point | Corporates [Member] | ||
Disclosure of sensitivity analysis for expected credit loss provisions [Line Items] | ||
Decrease in expected credit loss provisions due to reasonably possible decrease in macroeconomic indicators | (40,654) | |
Personal consumption expenditures price index rate | Decrease by 1% point | Corporates [Member] | ||
Disclosure of sensitivity analysis for expected credit loss provisions [Line Items] | ||
Increase in expected credit loss provisions due to increase in macroeconomic indicators | ₩ 43,028 |
Risk management - Maximum expos
Risk management - Maximum exposure to credit risk (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | |||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | ₩ 361,932,872 | [1] | $ 304,503,510 | ₩ 320,106,078 | [1] | |
Financial assets at FVTPL | [2] | 8,280,427 | 10,513,926 | |||
Financial assets at FVTOCI | 38,126,977 | 28,948,141 | ||||
Securities at amortized cost | 17,086,274 | 14,375,125 | 17,020,839 | |||
Derivative assets (Designated for hedging) | 106,764 | $ 89,823 | 174,820 | |||
Off balance sheet item | ||||||
Off-balance accounts | 127,402,271 | 123,898,136 | ||||
Total | 552,935,585 | 500,661,940 | ||||
Financial guarantee | 3,960,383 | 4,163,382 | ||||
Korean treasury and government agencies | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | [1] | 14,934,813 | 9,725,719 | |||
Banks | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | [1] | 24,733,020 | 19,493,189 | |||
Corporates | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | [1] | 131,027,256 | 114,131,994 | |||
Consumers | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | [1] | 191,237,783 | 176,755,176 | |||
Deposits | ||||||
Categories of financial assets | ||||||
Financial assets at FVTPL | [2] | 65,072 | 48,796 | |||
Debt securities | ||||||
Categories of financial assets | ||||||
Financial assets at FVTPL | [2] | 2,743,239 | 2,887,097 | |||
Loans | ||||||
Categories of financial assets | ||||||
Financial assets at FVTPL | [2] | 667,467 | 676,291 | |||
Derivative assets | ||||||
Categories of financial assets | ||||||
Financial assets at FVTPL | [2] | 4,803,131 | 6,901,742 | |||
Others | ||||||
Categories of financial assets | ||||||
Financial assets at FVTPL | [2] | 1,518 | 0 | |||
Debt securities at FVTOCI | ||||||
Categories of financial assets | ||||||
Financial assets at FVTOCI | 38,126,977 | 28,948,141 | ||||
Debt securities at amortized cost | ||||||
Categories of financial assets | ||||||
Securities at amortized cost | 17,086,274 | 17,020,839 | ||||
Derivative assets (Designated for hedging) | ||||||
Categories of financial assets | ||||||
Derivative assets (Designated for hedging) | 106,764 | 174,820 | ||||
Guarantees | ||||||
Off balance sheet item | ||||||
Off-balance accounts | [3] | 12,987,809 | 11,809,456 | |||
Unused loan commitments | ||||||
Off balance sheet item | ||||||
Off-balance accounts | ₩ 114,414,462 | ₩ 112,088,680 | ||||
[1] | Cash and cash equivalents are not included. | |||||
[2] | Puttable financial instruments are not included. | |||||
[3] | As of December 31, 2020 and 2021, the financial guarantee amounts of 4,163,382 million Won and 3,960,383 million Won are included, respectively. |
Risk management - Credit risk e
Risk management - Credit risk exposure by geographical areas (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | |||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | ₩ 361,932,872 | [1] | $ 304,503,510 | ₩ 320,106,078 | [1] | |
Securities at amortized cost | 17,086,274 | 14,375,125 | 17,020,839 | |||
Financial assets at FVTPL | [2] | 8,280,427 | 10,513,926 | |||
Financial assets at FVTOCI | 38,126,977 | 28,948,141 | ||||
Derivative assets (Designated for hedging) | 106,764 | $ 89,823 | 174,820 | |||
Off balance sheet item | ||||||
Off-balance accounts | 127,402,271 | 123,898,136 | ||||
Total | 552,935,585 | 500,661,940 | ||||
Korea | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | 338,674,446 | 296,186,751 | ||||
Securities at amortized cost | 16,785,265 | 16,749,531 | ||||
Financial assets at FVTPL | 6,150,464 | 6,954,630 | ||||
Financial assets at FVTOCI | 34,242,133 | 25,966,333 | ||||
Derivative assets (Designated for hedging) | 11,678 | 0 | ||||
Off balance sheet item | ||||||
Off-balance accounts | 123,375,839 | 119,699,069 | ||||
Total | 519,239,825 | 465,556,314 | ||||
China | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | 5,620,622 | 4,356,747 | ||||
Securities at amortized cost | 92,880 | 0 | ||||
Financial assets at FVTPL | 1,330 | 13,403 | ||||
Financial assets at FVTOCI | 808,359 | 608,893 | ||||
Derivative assets (Designated for hedging) | 0 | 0 | ||||
Off balance sheet item | ||||||
Off-balance accounts | 1,001,430 | 1,393,734 | ||||
Total | 7,524,621 | 6,372,777 | ||||
USA | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | 3,742,331 | 3,988,304 | ||||
Securities at amortized cost | 27,018 | 110,597 | ||||
Financial assets at FVTPL | 1,188,358 | 1,083,096 | ||||
Financial assets at FVTOCI | 1,713,435 | 1,092,636 | ||||
Derivative assets (Designated for hedging) | 95,086 | 165,458 | ||||
Off balance sheet item | ||||||
Off-balance accounts | 375,929 | 399,678 | ||||
Total | 7,142,157 | 6,839,769 | ||||
UK | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | 212,821 | 1,990,490 | ||||
Securities at amortized cost | 0 | 0 | ||||
Financial assets at FVTPL | 195,048 | 493,285 | ||||
Financial assets at FVTOCI | 1,755 | 5 | ||||
Derivative assets (Designated for hedging) | 0 | 3,740 | ||||
Off balance sheet item | ||||||
Off-balance accounts | 31,116 | 38,389 | ||||
Total | 440,740 | 2,525,909 | ||||
Japan | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | 811,030 | 1,404,670 | ||||
Securities at amortized cost | 0 | 0 | ||||
Financial assets at FVTPL | 61,315 | 480,760 | ||||
Financial assets at FVTOCI | 23,193 | 5,460 | ||||
Derivative assets (Designated for hedging) | 0 | 0 | ||||
Off balance sheet item | ||||||
Off-balance accounts | 32,402 | 41,378 | ||||
Total | 927,940 | 1,932,268 | ||||
Others | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | [3] | 12,871,622 | 12,179,116 | |||
Securities at amortized cost | [3] | 181,111 | 160,711 | |||
Financial assets at FVTPL | [3] | 683,912 | 1,488,752 | |||
Financial assets at FVTOCI | [3] | 1,338,102 | 1,274,814 | |||
Derivative assets (Designated for hedging) | [3] | 0 | 5,622 | |||
Off balance sheet item | ||||||
Off-balance accounts | [3] | 2,585,555 | 2,325,888 | |||
Total | [3] | ₩ 17,660,302 | ₩ 17,434,903 | |||
[1] | Cash and cash equivalents are not included. | |||||
[2] | Puttable financial instruments are not included. | |||||
[3] | Others consist of financial assets in Indonesia, Hong Kong, Germany, Australia, and other countries. |
Risk management - Credit risk_2
Risk management - Credit risk exposure by industries (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | |||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | ₩ 361,932,872 | [1] | $ 304,503,510 | ₩ 320,106,078 | [1] | |
Securities at amortized cost | 17,086,274 | 14,375,125 | 17,020,839 | |||
Financial assets at FVTPL | [2] | 8,280,427 | 10,513,926 | |||
Financial assets at FVTOCI | 38,126,977 | 28,948,141 | ||||
Derivative assets (Designated for hedging) | 106,764 | $ 89,823 | 174,820 | |||
Off balance sheet item | ||||||
Off-balance accounts | 127,402,271 | 123,898,136 | ||||
Total | 552,935,585 | 500,661,940 | ||||
Service | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | 67,895,018 | 56,627,927 | ||||
Securities at amortized cost | 479,291 | 492,172 | ||||
Financial assets at FVTPL | 115,346 | 301,296 | ||||
Financial assets at FVTOCI | 376,998 | 475,881 | ||||
Derivative assets (Designated for hedging) | 0 | 0 | ||||
Off balance sheet item | ||||||
Off-balance accounts | 18,565,570 | 18,828,656 | ||||
Total | 87,432,223 | 76,725,932 | ||||
Manufacturing | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | 37,679,784 | 35,933,953 | ||||
Securities at amortized cost | 0 | 6,691 | ||||
Financial assets at FVTPL | 146,277 | 234,712 | ||||
Financial assets at FVTOCI | 258,866 | 207,903 | ||||
Derivative assets (Designated for hedging) | 0 | 0 | ||||
Off balance sheet item | ||||||
Off-balance accounts | 18,994,662 | 21,460,581 | ||||
Total | 57,079,589 | 57,843,840 | ||||
Finance and insurance | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | 45,540,602 | 35,450,774 | ||||
Securities at amortized cost | 7,061,770 | 8,926,909 | ||||
Financial assets at FVTPL | 6,646,922 | 8,520,127 | ||||
Financial assets at FVTOCI | 29,444,989 | 23,017,149 | ||||
Derivative assets (Designated for hedging) | 79,369 | 174,820 | ||||
Off balance sheet item | ||||||
Off-balance accounts | 11,763,667 | 12,086,935 | ||||
Total | 100,537,319 | 88,176,714 | ||||
Construction | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | 4,303,491 | 3,493,000 | ||||
Securities at amortized cost | 250,607 | 302,225 | ||||
Financial assets at FVTPL | 13,623 | 32,240 | ||||
Financial assets at FVTOCI | 131,967 | 142,396 | ||||
Derivative assets (Designated for hedging) | 27,395 | 0 | ||||
Off balance sheet item | ||||||
Off-balance accounts | 3,900,766 | 4,060,358 | ||||
Total | 8,627,849 | 8,030,219 | ||||
Individuals | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | 185,972,844 | 172,116,780 | ||||
Securities at amortized cost | 0 | 0 | ||||
Financial assets at FVTPL | 1,836 | 14,619 | ||||
Financial assets at FVTOCI | 0 | 0 | ||||
Derivative assets (Designated for hedging) | 0 | 0 | ||||
Off balance sheet item | ||||||
Off-balance accounts | 67,966,826 | 62,477,117 | ||||
Total | 253,941,506 | 234,608,516 | ||||
Others | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | 20,541,133 | 16,483,644 | ||||
Securities at amortized cost | 9,294,606 | 7,292,842 | ||||
Financial assets at FVTPL | 1,356,423 | 1,410,932 | ||||
Financial assets at FVTOCI | 7,914,157 | 5,104,812 | ||||
Derivative assets (Designated for hedging) | 0 | 0 | ||||
Off balance sheet item | ||||||
Off-balance accounts | 6,210,780 | 4,984,489 | ||||
Total | ₩ 45,317,099 | ₩ 35,276,719 | ||||
[1] | Cash and cash equivalents are not included. | |||||
[2] | Puttable financial instruments are not included. |
Risk Management - Credit risk_3
Risk Management - Credit risk exposure by industries that might get affected by the spread of covid 19 (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Woori bank | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | ₩ 10,568,232 | ₩ 20,233,059 |
Financial assets at FVTPL | 5,298 | 152,580 |
Financial assets at FVTOCI | 34,558 | 26,243 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 3,215,674 | 14,132,314 |
Total | 13,823,762 | 34,544,196 |
Woori bank | Service business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 6,393,453 | 8,659,994 |
Financial assets at FVTPL | 2,515 | 48,717 |
Financial assets at FVTOCI | 23,840 | 19,684 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 1,333,939 | 2,364,221 |
Total | 7,753,747 | 11,092,616 |
Woori bank | Accommodation business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 1,441,185 | 1,525,157 |
Financial assets at FVTPL | 625 | 9,305 |
Financial assets at FVTOCI | 23,840 | 5,471 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 181,563 | 152,059 |
Total | 1,647,213 | 1,691,992 |
Woori bank | Travel business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 53,302 | 59,858 |
Financial assets at FVTPL | 0 | 0 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 12,455 | 21,350 |
Total | 65,757 | 81,208 |
Woori bank | Cosmetics | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 323,231 | |
Financial assets at FVTPL | 217 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 54,518 | |
Total | 377,966 | |
Woori bank | Distribution business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 1,564,743 | 2,478,352 |
Financial assets at FVTPL | 495 | 15,517 |
Financial assets at FVTOCI | 0 | 5,461 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 536,742 | 1,380,461 |
Total | 2,101,980 | 3,879,791 |
Woori bank | General retail business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 754,850 | 1,070,789 |
Financial assets at FVTPL | 274 | 11,944 |
Financial assets at FVTOCI | 0 | 5,461 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 299,064 | 897,101 |
Total | 1,054,188 | 1,985,295 |
Woori bank | General wholesale business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 809,893 | 1,407,563 |
Financial assets at FVTPL | 221 | 3,573 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 237,678 | 483,360 |
Total | 1,047,792 | 1,894,496 |
Woori bank | Art/sports, leisure service | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 600,746 | 1,467,643 |
Financial assets at FVTPL | 503 | 17,739 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 63,660 | 114,388 |
Total | 664,909 | 1,599,770 |
Woori bank | Food business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 1,279,128 | 1,078,832 |
Financial assets at FVTPL | 216 | 2,515 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 179,799 | 135,680 |
Total | 1,459,143 | 1,217,027 |
Woori bank | Transportation business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 404,120 | 395,873 |
Financial assets at FVTPL | 77 | 461 |
Financial assets at FVTOCI | 0 | 8,752 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 167,883 | 193,578 |
Total | 572,080 | 598,664 |
Woori bank | Education business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 367,701 | |
Financial assets at FVTPL | 489 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 48,064 | |
Total | 416,254 | |
Woori bank | Others | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 1,050,229 | 1,286,578 |
Financial assets at FVTPL | 599 | 2,691 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 191,837 | 318,641 |
Total | 1,242,665 | 1,607,910 |
Woori bank | Manufacturing | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 4,174,779 | 11,573,065 |
Financial assets at FVTPL | 2,783 | 103,863 |
Financial assets at FVTOCI | 10,718 | 6,559 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 1,881,735 | 11,768,093 |
Total | 6,070,015 | 23,451,580 |
Woori bank | Textile | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 2,626,493 | 2,281,344 |
Financial assets at FVTPL | 724 | 6,608 |
Financial assets at FVTOCI | 10,718 | 6,559 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 1,012,989 | 1,064,005 |
Total | 3,650,924 | 3,358,516 |
Woori bank | Metal | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 199,877 | 1,390,290 |
Financial assets at FVTPL | 10 | 47,903 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 9,704 | 1,581,887 |
Total | 209,591 | 3,020,080 |
Woori bank | Non-metal | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 148,471 | 698,478 |
Financial assets at FVTPL | 24 | 8,357 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 48,171 | 377,506 |
Total | 196,666 | 1,084,341 |
Woori bank | Chemical | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 904,563 | 1,819,207 |
Financial assets at FVTPL | 1,994 | 19,161 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 689,895 | 3,233,405 |
Total | 1,596,452 | 5,071,773 |
Woori bank | Transportation | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 3,268,095 | |
Financial assets at FVTPL | 2,060 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 2,183,616 | |
Total | 5,453,771 | |
Woori bank | Electronics | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 103,510 | 1,424,297 |
Financial assets at FVTPL | 31 | 19,280 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 33,389 | 1,789,605 |
Total | 136,930 | 3,233,182 |
Woori bank | Others | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 191,865 | 368,123 |
Financial assets at FVTPL | 0 | 277 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 87,587 | 1,483,551 |
Total | 279,452 | 1,851,951 |
Woori Card Co., Ltd. | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 56,030 | 57,365 |
Financial assets at FVTPL | 0 | 0 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 252,065 | 315,264 |
Total | 308,095 | 372,629 |
Woori Card Co., Ltd. | Accommodation business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 2,341 | 4,959 |
Financial assets at FVTPL | 0 | 0 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 11,472 | 12,315 |
Total | 13,813 | 17,274 |
Woori Card Co., Ltd. | Travel business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 3,334 | 2,175 |
Financial assets at FVTPL | 0 | 0 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 20,056 | 25,367 |
Total | 23,390 | 27,542 |
Woori Card Co., Ltd. | Aviation | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 983 | 479 |
Financial assets at FVTPL | 0 | 0 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 4,025 | 4,179 |
Total | 5,008 | 4,658 |
Woori Card Co., Ltd. | Cosmetics | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 3,187 | 2,462 |
Financial assets at FVTPL | 0 | 0 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 10,692 | 13,376 |
Total | 13,879 | 15,838 |
Woori Card Co., Ltd. | Distribution business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 7,582 | 8,050 |
Financial assets at FVTPL | 0 | 0 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 38,741 | 44,354 |
Total | 46,323 | 52,404 |
Woori Card Co., Ltd. | Art/sports, leisure service | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 8,336 | 6,156 |
Financial assets at FVTPL | 0 | 0 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 44,286 | 51,962 |
Total | 52,622 | 58,118 |
Woori Card Co., Ltd. | Food business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 30,267 | 33,084 |
Financial assets at FVTPL | 0 | 0 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 122,793 | 163,711 |
Total | 153,060 | 196,795 |
Woori Financial Capital Co., Ltd. | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 7,843,035 | 6,819,728 |
Financial assets at FVTPL | 28,222 | 252,442 |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 966,578 | 375,812 |
Total | 8,837,835 | 7,447,982 |
Woori Financial Capital Co., Ltd. | Service business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 1,235,564 | 491,801 |
Financial assets at FVTPL | 27,364 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 140,549 | 38,681 |
Total | 1,376,113 | 557,846 |
Woori Financial Capital Co., Ltd. | Accommodation business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 7,338 | 6,292 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 7,338 | 6,292 |
Woori Financial Capital Co., Ltd. | Travel business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 57 | 1,293 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 57 | 1,293 |
Woori Financial Capital Co., Ltd. | Cosmetics | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 685 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | |
Total | 685 | |
Woori Financial Capital Co., Ltd. | Distribution business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 370,673 | 66,565 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 370,673 | 66,565 |
Woori Financial Capital Co., Ltd. | General retail business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 77,841 | 8,978 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 77,841 | 8,978 |
Woori Financial Capital Co., Ltd. | General wholesale business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 292,832 | 57,587 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 292,832 | 57,587 |
Woori Financial Capital Co., Ltd. | Art/sports, leisure service | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 8,544 | 615 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 8,544 | 615 |
Woori Financial Capital Co., Ltd. | Food business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 125,075 | 21,774 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 125,075 | 21,774 |
Woori Financial Capital Co., Ltd. | Transportation business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 598,972 | 28,270 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 598,972 | 28,270 |
Woori Financial Capital Co., Ltd. | Education business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 22,118 | 1,132 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 22,118 | 1,132 |
Woori Financial Capital Co., Ltd. | Others | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 102,787 | 365,860 |
Financial assets at FVTPL | 27,364 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 140,549 | 38,681 |
Total | 243,336 | 431,905 |
Woori Financial Capital Co., Ltd. | Manufacturing | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 118,077 | 125,173 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 13,432 | 3,365 |
Total | 131,509 | 128,538 |
Woori Financial Capital Co., Ltd. | Textile | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 727 | 29,415 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 727 | 29,415 |
Woori Financial Capital Co., Ltd. | Metal | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 2,824 | 17,963 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 3,365 |
Total | 2,824 | 21,328 |
Woori Financial Capital Co., Ltd. | Non-metal | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 698 | 4,780 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 698 | 4,780 |
Woori Financial Capital Co., Ltd. | Chemical | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 172 | 2,501 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 172 | 2,501 |
Woori Financial Capital Co., Ltd. | Transportation | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 438 | 52,514 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 438 | 52,514 |
Woori Financial Capital Co., Ltd. | Electronics | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 3,993 | 12,665 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 3,993 | 12,665 |
Woori Financial Capital Co., Ltd. | Others | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 108,540 | 5,335 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 13,432 | 0 |
Total | 121,972 | 5,335 |
Woori Financial Capital Co., Ltd. | COVID-19 vulnerable business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 1,353,641 | 616,974 |
Financial assets at FVTPL | 27,364 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 153,981 | 42,046 |
Total COVID-19 vulnerable business | 1,507,622 | 686,384 |
Woori Financial Capital Co., Ltd. | Other business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 6,489,394 | 6,202,754 |
Financial assets at FVTPL | 28,222 | 225,078 |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 812,597 | 333,766 |
Total other business | 7,330,213 | 6,761,598 |
Woori Investment Bank Co., Ltd. | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 101,799 | 88,616 |
Financial assets at FVTPL | 0 | 20,000 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 101,799 | 108,616 |
Woori Investment Bank Co., Ltd. | Accommodation business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 57,142 | 44,900 |
Financial assets at FVTPL | 0 | 0 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 57,142 | 44,900 |
Woori Investment Bank Co., Ltd. | Distribution business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 12,885 | 15,716 |
Financial assets at FVTPL | 0 | 20,000 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 12,885 | 35,716 |
Woori Investment Bank Co., Ltd. | Art/sports, leisure service | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 31,772 | 28,000 |
Financial assets at FVTPL | 0 | 0 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | ₩ 31,772 | ₩ 28,000 |
Risk Management - Credit qualit
Risk Management - Credit quality of financial assets items (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | |||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | ₩ 361,932,872 | [1] | $ 304,503,510 | ₩ 320,106,078 | [1] | |
Securities at amortized cost | 17,086,274 | $ 14,375,125 | 17,020,839 | |||
Financial assets at FVTOCI | 38,126,977 | 28,948,141 | ||||
Total | 417,146,123 | 366,075,058 | ||||
Collateral value | [2] | 0 | ||||
Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Total | 419,110,883 | 368,075,809 | ||||
Collateral value | 226,930,180 | 204,106,023 | ||||
Allowance for credit losses | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Total | (1,976,906) | (2,010,382) | ||||
Stage 1 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 208,188,057 | 187,731,443 | ||||
Stage 1 | Above appropriate credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Total | 371,373,956 | 324,543,698 | ||||
Stage 1 | Less than a limited credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Total | 22,943,485 | [3] | 21,408,745 | [2] | ||
Stage 2 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 18,098,940 | 15,677,871 | ||||
Stage 2 | Above appropriate credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Total | 13,270,491 | 10,356,251 | [3] | |||
Stage 2 | Less than a limited credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Total | 10,190,307 | [3] | 10,143,839 | [2] | ||
Stage 3 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Total | 1,332,644 | 1,623,276 | ||||
Collateral value | 643,183 | 696,709 | ||||
Loans and other financial assets at amortized cost | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 363,892,397 | 322,102,263 | ||||
Collateral value | 226,930,180 | 204,106,023 | ||||
Loans and other financial assets at amortized cost | Allowance for credit losses | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | (1,959,525) | (1,996,185) | ||||
Loans and other financial assets at amortized cost | Stage 1 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 208,188,057 | 187,731,443 | ||||
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 | 316,364,525 | 278,729,012 | ||||
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 | 22,734,430 | [3] | 21,249,885 | [2] | ||
Loans and other financial assets at amortized cost | Stage 2 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 18,098,940 | 15,677,871 | ||||
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 | 13,270,491 | 10,356,251 | [3] | |||
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 | 10,190,307 | [3] | 10,143,839 | [2] | ||
Loans and other financial assets at amortized cost | Stage 3 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 1,332,644 | 1,623,276 | ||||
Collateral value | 643,183 | 696,709 | ||||
Korean treasury and government agencies | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | [1] | 14,934,813 | 9,725,719 | |||
Korean treasury and government agencies | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 14,938,736 | 9,728,233 | ||||
Collateral value | 20,679 | 19,280 | ||||
Korean treasury and government agencies | Allowance for credit losses | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | (3,923) | (2,514) | ||||
Korean treasury and government agencies | Stage 1 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 20,679 | 19,280 | ||||
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 | 14,938,718 | 9,674,891 | ||||
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 | 9 | [3] | 1,063 | [2] | ||
Korean treasury and government agencies | Stage 2 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 0 | 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 | 9 | 52,279 | [3] | |||
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 | 0 | [3] | 0 | [2] | ||
Korean treasury and government agencies | Stage 3 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 0 | 0 | ||||
Collateral value | 0 | 0 | ||||
Banks | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | [1] | 24,733,020 | 19,493,189 | |||
Banks | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 24,748,575 | 19,508,934 | ||||
Collateral value | 1,287,055 | 1,003,971 | ||||
Banks | Allowance for credit losses | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | (15,555) | (15,745) | ||||
Banks | Stage 1 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 1,287,055 | 1,003,971 | ||||
Banks | Stage 1 | Above appropriate credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 24,186,246 | 19,301,570 | ||||
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 | 492,447 | [3] | 105,890 | [2] | ||
Banks | Stage 2 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 0 | 0 | ||||
Banks | Stage 2 | Above appropriate credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 46,373 | 75,876 | [3] | |||
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 | 0 | [3] | 0 | [2] | ||
Banks | Stage 3 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 23,509 | 25,598 | ||||
Collateral value | 0 | 0 | ||||
Corporates | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | [1] | 131,027,256 | 114,131,994 | |||
Corporates | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 132,190,691 | 115,353,485 | ||||
Collateral value | 79,551,849 | 67,180,746 | ||||
Corporates | Allowance for credit losses | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | (1,163,435) | (1,221,491) | ||||
Corporates | Stage 1 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 74,403,502 | 62,817,305 | ||||
Corporates | Stage 1 | Above appropriate credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 108,917,062 | 93,889,922 | ||||
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 | 15,952,017 | [3] | 14,873,376 | [2] | ||
Corporates | Stage 2 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 4,796,510 | 3,963,101 | ||||
Corporates | Stage 2 | Above appropriate credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 2,698,907 | 1,890,564 | [3] | |||
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 | 3,963,782 | [3] | 3,860,389 | [2] | ||
Corporates | Stage 3 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 658,923 | 839,234 | ||||
Collateral value | 351,837 | 400,340 | ||||
General business | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 81,914,261 | 73,737,546 | ||||
General business | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 82,700,169 | 74,607,290 | ||||
Collateral value | 43,630,245 | 38,520,765 | ||||
General business | Allowance for credit losses | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | (785,908) | (869,744) | ||||
General business | Stage 1 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 40,288,663 | 35,578,470 | ||||
General business | Stage 1 | Above appropriate credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 68,767,641 | 61,082,336 | ||||
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 | 9,010,115 | [3] | 9,013,955 | [2] | ||
General business | Stage 2 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 3,120,790 | 2,670,480 | ||||
General business | Stage 2 | Above appropriate credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 1,886,740 | 1,349,053 | [3] | |||
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 | 2,597,136 | [3] | 2,585,868 | [2] | ||
General business | Stage 3 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 438,537 | 576,078 | ||||
Collateral value | 220,792 | 271,815 | ||||
Small and medium sized enterprise | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 41,743,993 | 34,589,845 | ||||
Small and medium sized enterprise | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 42,066,628 | 34,893,922 | ||||
Collateral value | 32,609,117 | 26,813,208 | ||||
Small and medium sized enterprise | Allowance for credit losses | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | (322,635) | (304,077) | ||||
Small and medium sized enterprise | Stage 1 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 30,852,567 | 25,404,002 | ||||
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 | 33,306,787 | 27,504,992 | ||||
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 | 6,459,338 | [3] | 5,415,312 | [2] | ||
Small and medium sized enterprise | Stage 2 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 1,675,720 | 1,290,941 | ||||
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 | 790,750 | 538,909 | [3] | |||
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 | 1,353,313 | [3] | 1,207,706 | [2] | ||
Small and medium sized enterprise | Stage 3 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 156,440 | 227,003 | ||||
Collateral value | 80,830 | 118,265 | ||||
Project financing and others | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 7,369,002 | 5,804,603 | ||||
Project financing and others | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 7,423,894 | 5,852,273 | ||||
Collateral value | 3,312,487 | 1,846,773 | ||||
Project financing and others | Allowance for credit losses | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | (54,892) | (47,670) | ||||
Project financing and others | Stage 1 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 3,262,272 | 1,834,833 | ||||
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 | 6,842,634 | 5,302,594 | ||||
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 | 482,564 | [3] | 444,109 | [2] | ||
Project financing and others | Stage 2 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 0 | 1,680 | ||||
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 | 21,417 | 2,602 | [3] | |||
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 | 13,333 | [3] | 66,815 | [2] | ||
Project financing and others | Stage 3 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 63,946 | 36,153 | ||||
Collateral value | 50,215 | 10,260 | ||||
Consumers | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | [1] | 191,237,783 | 176,755,176 | |||
Consumers | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 192,014,395 | 177,511,611 | ||||
Collateral value | 146,070,597 | 135,902,026 | ||||
Consumers | Allowance for credit losses | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | (776,612) | (756,435) | ||||
Consumers | Stage 1 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 132,476,821 | 123,890,887 | ||||
Consumers | Stage 1 | Above appropriate credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 168,322,499 | 155,862,629 | ||||
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 | 6,289,957 | [3] | 6,269,556 | [2] | ||
Consumers | Stage 2 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 13,302,430 | 11,714,770 | ||||
Consumers | Stage 2 | Above appropriate credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 10,525,202 | 8,337,532 | [3] | |||
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 | 6,226,525 | [3] | 6,283,450 | [2] | ||
Consumers | Stage 3 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 650,212 | 758,444 | ||||
Collateral value | 291,346 | 296,369 | ||||
Securities at amortized cost | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Securities at amortized cost | 17,086,274 | 17,020,839 | ||||
Securities at amortized cost | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Securities at amortized cost | 17,091,509 | 17,025,405 | ||||
Collateral value | 0 | 0 | ||||
Securities at amortized cost | Allowance for credit losses | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Securities at amortized cost | (5,235) | (4,566) | ||||
Securities at amortized cost | Stage 1 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 0 | 0 | ||||
Securities at amortized cost | Stage 1 | Above appropriate credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Securities at amortized cost | 17,091,509 | 17,025,405 | ||||
Securities at amortized cost | Stage 1 | Less than a limited credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Securities at amortized cost | 0 | [3] | 0 | [2] | ||
Securities at amortized cost | Stage 2 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 0 | 0 | ||||
Securities at amortized cost | Stage 2 | Above appropriate credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Securities at amortized cost | 0 | 0 | [3] | |||
Securities at amortized cost | Stage 2 | Less than a limited credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Securities at amortized cost | 0 | [3] | 0 | [2] | ||
Securities at amortized cost | Stage 3 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Securities at amortized cost | 0 | 0 | ||||
Collateral value | 0 | 0 | ||||
Financial assets at FVTOCI | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Financial assets at FVTOCI | 38,126,977 | 28,948,141 | ||||
Collateral value | [2] | 0 | ||||
Financial assets at FVTOCI | Allowance for credit losses | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Financial assets at FVTOCI | (12,146) | (9,631) | ||||
Financial assets at FVTOCI | Stage 1 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | [2] | 0 | ||||
Financial assets at FVTOCI | Stage 1 | Above appropriate credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Financial assets at FVTOCI | 37,917,922 | 28,789,281 | ||||
Financial assets at FVTOCI | Stage 1 | Less than a limited credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Financial assets at FVTOCI | 209,055 | [3] | 158,860 | [2] | ||
Financial assets at FVTOCI | Stage 2 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | [2] | 0 | ||||
Financial assets at FVTOCI | Stage 2 | Above appropriate credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Financial assets at FVTOCI | 0 | 0 | [3] | |||
Financial assets at FVTOCI | Stage 2 | Less than a limited credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Financial assets at FVTOCI | 0 | [3] | 0 | [2] | ||
Financial assets at FVTOCI | Stage 3 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Financial assets at FVTOCI | ₩ 0 | 0 | ||||
Collateral value | [2] | ₩ 0 | ||||
[1] | Cash and cash equivalents are not included. | |||||
[2] | Financial assets at FVTOCI has been disclosed as the amount before deducting allowance for credit losses because loss allowance does not reduce the carrying amount. | |||||
[3] | Credit grade of corporates are BBB- ~ C, and consumers are grades 7 ~ 10. |
Risk Management - Credit qual_2
Risk Management - Credit quality of off balancesheet items (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | ₩ 127,402,271 | ₩ 123,898,136 | |
Guarantees | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [1] | 12,987,809 | 11,809,456 |
Loan commitments | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | 114,414,462 | 112,088,680 | |
Stage 1 | Above appropriate credit rating | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [2] | 119,477,342 | 115,261,867 |
Stage 1 | Above appropriate credit rating | Guarantees | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [2] | 11,560,908 | 10,152,900 |
Stage 1 | Above appropriate credit rating | Loan commitments | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [2] | 107,916,434 | 105,108,967 |
Stage 1 | Less than a limited credit rating | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [3] | 4,628,555 | 5,428,187 |
Stage 1 | Less than a limited credit rating | Guarantees | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [3] | 1,037,142 | 1,382,592 |
Stage 1 | Less than a limited credit rating | Loan commitments | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [3] | 3,591,413 | 4,045,595 |
Stage 2 | Above appropriate credit rating | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [2] | 2,119,897 | 1,963,153 |
Stage 2 | Above appropriate credit rating | Guarantees | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [2] | 47,549 | 11,504 |
Stage 2 | Above appropriate credit rating | Loan commitments | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [2] | 2,072,348 | 1,951,649 |
Stage 2 | Less than a limited credit rating | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [3] | 1,107,339 | 1,169,147 |
Stage 2 | Less than a limited credit rating | Guarantees | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [3] | 275,166 | 191,962 |
Stage 2 | Less than a limited credit rating | Loan commitments | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [3] | 832,173 | 977,185 |
Stage 3 | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | 69,138 | 75,782 | |
Stage 3 | Guarantees | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | 67,044 | 70,498 | |
Stage 3 | Loan commitments | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | ₩ 2,094 | ₩ 5,284 | |
[1] | As of December 31, 2020 and 2021, the financial guarantee amounts of 4,163,382 million Won and 3,960,383 million Won are included, respectively. | ||
[2] | Credit grade of corporates are AAA ~ BBB, and consumers are grades 1 ~ 6. | ||
[3] | Credit grade of corporate are BBB- ~ C, and consumers are grades 7 ~ 10. |
Risk management - Collateral an
Risk management - Collateral and other credit enhancements (Details) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
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 | For the years ended December 31, 2020 and 2021, 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. | For the years ended December 31, 2020 and 2021, 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. |
Risk Management - Financial ass
Risk Management - Financial assets with contractual cash flows modified during reporting period (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
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 | ₩ 145,594 | ₩ 265,760 |
Financial assets with contractual cash flows modified during reporting period while loss allowance measured at lifetime expected credit losses, modification gain (loss) | (11,734) | (12,786) |
Financial assets written off during reporting period and still subject to enforcement activity, contractual amount outstanding | 10,107,413 | ₩ 9,986,186 |
Non-recoverable financial assets still in the process of recovery | ₩ 355,039 |
Risk Management - Sensitivity A
Risk Management - Sensitivity Analysis of Market Risk (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Sensitivity analysis for market risk [Abstract] | |
Methods used in preparing sensitivity analysis reflecting interdependencies between risk variables | The Group uses the standard method and the internally developed model (the Bank) in measuring market risk for trading positions and allocates market risk capital through the Risk Management Committee. Risk management departments of the Group and its subsidiaries manage limits in detail including those on risk and loss with their management result regularly reported to the Risk Management Committee.The Bank manages and measures interest risk for non-trading activities through ΔNII (Change in Net Interest Income) and ΔEVE (Change in Economic Value of Equity) in accordance with IRRBB (Interest Rate Risk in the Banking Book) introduced at the end of 2019. |
Limitations that may result in information not fully reflecting fair value of assets and liabilities involved | Woori Bank, a subsidiary of the Group, uses the internal model approved by the Financial Supervisory Service to measure the VaR using the Historical Simulation Method based on a 99% confidence level and a 10-day retention period, and calculates the required capital risk for calculating the BIS ratio. For internal management purposes, limit management is performed on a daily basis measuring VaR based on a 99% confidence and 1 day retention period. In addition, Woori Bank perform a daily verification that compares VaR measurement and profit and loss to verify the suitability of the model. |
Methods and assumptions used in preparing sensitivity analysis | Woori Bank, a subsidiary of the Group, uses the internal model approved by the Financial Supervisory Service to measure the VaR using the Historical Simulation Method based on a 99% confidence level and a 10-day retention period, and calculates the required capital risk for calculating the BIS ratio. For internal management purposes, limit management is performed on a daily basis measuring VaR based on a 99% confidence and 1 day retention period. In addition, Woori Bank perform a daily verification that compares VaR measurement and profit and loss to verify the suitability of the model. |
Risk Management - Value at risk
Risk Management - Value at risk analysis for trading activities (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |
Fair value concentration of risk market risk management reporting date value at risk [Member] | |||
Value at risk [Line Items] | |||
Total VaR | [1] | ₩ 6,981 | ₩ 9,171 |
Fair value concentration of risk market risk management value at risk during year [Member] | Average | |||
Value at risk [Line Items] | |||
Total VaR | [1] | 7,763 | 11,381 |
Fair value concentration of risk market risk management value at risk during year [Member] | Maximum | |||
Value at risk [Line Items] | |||
Total VaR | [1] | 13,831 | 21,896 |
Fair value concentration of risk market risk management value at risk during year [Member] | Minimum | |||
Value at risk [Line Items] | |||
Total VaR | [1] | 5,134 | 5,570 |
Interest rate | Fair value concentration of risk market risk management reporting date value at risk [Member] | |||
Value at risk [Line Items] | |||
Total VaR | 4,177 | 6,815 | |
Interest rate | Fair value concentration of risk market risk management value at risk during year [Member] | Average | |||
Value at risk [Line Items] | |||
Total VaR | 4,681 | 7,959 | |
Interest rate | Fair value concentration of risk market risk management value at risk during year [Member] | Maximum | |||
Value at risk [Line Items] | |||
Total VaR | 14,017 | 15,065 | |
Interest rate | Fair value concentration of risk market risk management value at risk during year [Member] | Minimum | |||
Value at risk [Line Items] | |||
Total VaR | 2,405 | 2,427 | |
Stock price | Fair value concentration of risk market risk management reporting date value at risk [Member] | |||
Value at risk [Line Items] | |||
Total VaR | 2,972 | 2,283 | |
Stock price | Fair value concentration of risk market risk management value at risk during year [Member] | Average | |||
Value at risk [Line Items] | |||
Total VaR | 3,637 | 5,783 | |
Stock price | Fair value concentration of risk market risk management value at risk during year [Member] | Maximum | |||
Value at risk [Line Items] | |||
Total VaR | 6,676 | 14,394 | |
Stock price | Fair value concentration of risk market risk management value at risk during year [Member] | Minimum | |||
Value at risk [Line Items] | |||
Total VaR | 1,609 | 1,982 | |
Foreign currencies | Fair value concentration of risk market risk management reporting date value at risk [Member] | |||
Value at risk [Line Items] | |||
Total VaR | 5,904 | 11,160 | |
Foreign currencies | Fair value concentration of risk market risk management value at risk during year [Member] | Average | |||
Value at risk [Line Items] | |||
Total VaR | 6,745 | 8,814 | |
Foreign currencies | Fair value concentration of risk market risk management value at risk during year [Member] | Maximum | |||
Value at risk [Line Items] | |||
Total VaR | 13,144 | 11,233 | |
Foreign currencies | Fair value concentration of risk market risk management value at risk during year [Member] | Minimum | |||
Value at risk [Line Items] | |||
Total VaR | 4,747 | 4,613 | |
Diversification | Fair value concentration of risk market risk management reporting date value at risk [Member] | |||
Value at risk [Line Items] | |||
Total VaR | (6,072) | (11,087) | |
Diversification | Fair value concentration of risk market risk management value at risk during year [Member] | Average | |||
Value at risk [Line Items] | |||
Total VaR | (7,300) | (11,175) | |
Diversification | Fair value concentration of risk market risk management value at risk during year [Member] | Maximum | |||
Value at risk [Line Items] | |||
Total VaR | (20,006) | (18,796) | |
Diversification | Fair value concentration of risk market risk management value at risk during year [Member] | Minimum | |||
Value at risk [Line Items] | |||
Total VaR | ₩ (3,627) | ₩ (3,452) | |
[1] | VaR (Value at Risk): Retention period of 1day, Maximum expected losses under 99% level of confidence. |
Risk management - EVE and NII b
Risk management - EVE and NII based on interest rate risk in banking book of bank, consolidated trusts and subsidiaries of the bank (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | [2] | ||
Woori bank [Member] | ||||
Statement One [Line Items] | ||||
Change in EVE | [1] | ₩ 920,290 | ₩ 634,596 | |
Change in NII | [3] | 195,186 | 66,138 | |
Woori card [Member] | ||||
Statement One [Line Items] | ||||
Change in EVE | [1] | 126,576 | 0 | |
Change in NII | [3] | 59,114 | 0 | |
Woori Financial Capital Co., Ltd. [Member] | ||||
Statement One [Line Items] | ||||
Change in EVE | [1] | 58,794 | 0 | |
Change in NII | [3] | 1,384 | 0 | |
Woori Investment Bank Co Ltd [Member] | ||||
Statement One [Line Items] | ||||
Change in EVE | [1] | 17,607 | 0 | |
Change in NII | [3] | 5,556 | 0 | |
Woori Asset Trust Co., Ltd. [Member] | ||||
Statement One [Line Items] | ||||
Change in EVE | [1] | 820 | 0 | |
Change in NII | [3] | 1,709 | 0 | |
Woori Asset Management Corp. [Member] | ||||
Statement One [Line Items] | ||||
Change in EVE | [1] | 1,411 | 0 | |
Change in NII | [3] | 504 | 0 | |
Woori Savings Bank [Member] | ||||
Statement One [Line Items] | ||||
Change in EVE | [1] | 15,175 | 0 | |
Change in NII | [3] | 949 | 0 | |
Woori private equity asset management Co Ltd [Member] | ||||
Statement One [Line Items] | ||||
Change in EVE | [1] | 32 | 0 | |
Change in NII | [3] | 59 | 0 | |
Woori Global Asset Management Co., Ltd. [Member] | ||||
Statement One [Line Items] | ||||
Change in EVE | [1] | 246 | 0 | |
Change in NII | [3] | ₩ 143 | ₩ 0 | |
[1] | ΔEVE: change in Economic Value of Equity | |||
[2] | As of December 31, 2020, for the remaining subsidiaries except the bank, consolidated trusts, and consolidated subsidiaries of the bank, EVE and NII were not calculated. | |||
[3] | ΔNII: change in Net Interest Income |
Risk management - Interest EaR
Risk management - Interest EaR and VaR based on BIS Framework of subsidiaries other than the Bank and consolidated trusts (Details) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2020KRW (₩) | ||
Woori Card Co., Ltd. | ||
Disclosure of EaR VaR based on BIS framework [Line Items] | ||
EaR | ₩ 106,645 | [1] |
VaR | 157,085 | [2] |
Woori Financial Capital Co., Ltd. | ||
Disclosure of EaR VaR based on BIS framework [Line Items] | ||
EaR | 3,701 | [1] |
VaR | 12,550 | [2] |
Woori Investment Bank Co., Ltd. | ||
Disclosure of EaR VaR based on BIS framework [Line Items] | ||
EaR | 1,479 | [1] |
VaR | 5,005 | [2] |
Woori Asset Trust Co., Ltd. | ||
Disclosure of EaR VaR based on BIS framework [Line Items] | ||
EaR | 3,211 | [1] |
VaR | 398 | [2] |
Woori Asset Management Corp. | ||
Disclosure of EaR VaR based on BIS framework [Line Items] | ||
EaR | 64 | [1] |
VaR | 493 | [2] |
Woori Private Equity Asset Management Co., Ltd. | ||
Disclosure of EaR VaR based on BIS framework [Line Items] | ||
EaR | 193 | [1] |
VaR | 37 | [2] |
Woori Global Asset Management Co., Ltd. | ||
Disclosure of EaR VaR based on BIS framework [Line Items] | ||
EaR | 119 | [1] |
VaR | ₩ 318 | [2] |
[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
Risk management - Cash flows of non-trading interest bearing assets and liabilities by repricing date (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
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 | ₩ 418,398,513 | ₩ 373,211,994 |
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 | 359,420,134 | 324,771,700 |
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 | 2,081,692 | 1,223,109 |
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 | 38,881,263 | 29,472,081 |
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 | 18,015,424 | 17,745,104 |
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 | 388,770,151 | 350,923,341 |
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 | 318,182,204 | 291,284,923 |
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 | 24,468,890 | 20,413,683 |
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 | 46,119,057 | 39,224,735 |
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 | 214,427,607 | 183,540,769 |
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 | 205,915,030 | 177,214,415 |
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 | 1,725,063 | 609,542 |
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 | 5,489,649 | 4,344,718 |
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 | 1,297,865 | 1,372,094 |
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 | 165,493,118 | 142,026,874 |
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 | 145,744,829 | 127,557,303 |
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 | 11,422,868 | 11,223,338 |
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 | 8,325,421 | 3,246,233 |
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 | 64,301,905 | 59,109,731 |
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 | 58,661,091 | 54,035,826 |
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 | 52,361 | 263,510 |
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 | 4,741,319 | 3,339,086 |
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 | 847,134 | 1,471,309 |
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 | 54,997,145 | 52,700,372 |
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 | 47,792,440 | 46,471,099 |
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 | 4,168,941 | 2,832,846 |
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 | 3,035,764 | 3,396,427 |
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 | 19,240,028 | 17,187,901 |
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 | 14,461,769 | 12,410,513 |
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 | 49,843 | 91,791 |
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 | 3,915,011 | 3,751,882 |
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 | 813,405 | 933,715 |
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 | 38,327,258 | 40,511,477 |
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 | 33,334,918 | 35,455,403 |
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 | 1,788,597 | 1,126,728 |
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 | 3,203,743 | 3,929,346 |
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 | 17,946,712 | 16,019,989 |
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 | 12,840,318 | 11,140,520 |
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 | 17,817 | 94,879 |
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 | 4,139,102 | 2,915,238 |
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 | 949,475 | 1,869,352 |
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 | 33,330,592 | 33,800,459 |
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 | 28,615,157 | 29,354,652 |
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 | 1,540,533 | 949,892 |
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 | 3,174,902 | 3,495,915 |
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 | 94,513,058 | 90,678,667 |
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 | 62,337,321 | 64,799,854 |
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 | 223,107 | 150,148 |
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 | 19,962,071 | 14,648,033 |
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 | 11,990,559 | 11,080,632 |
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 | 92,791,939 | 78,123,983 |
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 | 62,635,705 | 52,395,811 |
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 | 5,119,291 | 3,828,384 |
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 | 25,036,943 | 21,899,788 |
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 | 7,969,203 | 6,674,937 |
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 | 5,204,605 | 5,170,572 |
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 | 13,501 | 13,239 |
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 | 634,111 | 473,124 |
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 | 2,116,986 | 1,018,002 |
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 | 3,830,099 | 3,760,176 |
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 | 59,155 | 50,655 |
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 | 428,660 | 452,495 |
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 | ₩ 3,342,284 | ₩ 3,257,026 |
Risk Management - Foreign curre
Risk Management - Foreign currency risk exposure of financial instruments in foreign currency (Details) € in Millions, ₩ in Millions, ¥ in Millions, ¥ in Millions, $ in Millions | Dec. 31, 2021USD ($) | Dec. 31, 2021KRW (₩) | Dec. 31, 2021JPY (¥) | Dec. 31, 2021CNY (¥) | Dec. 31, 2021EUR (€) | Dec. 31, 2020USD ($) | Dec. 31, 2020KRW (₩) | Dec. 31, 2020JPY (¥) | Dec. 31, 2020CNY (¥) | Dec. 31, 2020EUR (€) |
Won equivalent | Total | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | ₩ 61,266,953 | ₩ 50,211,011 | ||||||||
Won equivalent | Cash and cash equivalents | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 5,111,162 | 7,736,329 | ||||||||
Won equivalent | Financial assets at FVTPL | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 1,216,923 | 935,843 | ||||||||
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 | 49,084,690 | 36,998,766 | ||||||||
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 | 5,299,762 | 4,031,772 | ||||||||
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 | 554,416 | 508,301 | ||||||||
Won equivalent | Liability | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 56,771,154 | 47,520,937 | ||||||||
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 | 1,018,095 | 943,424 | ||||||||
Won equivalent | Deposits due to customers | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 37,643,900 | 30,408,762 | ||||||||
Won equivalent | Borrowings | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 9,025,657 | 8,152,403 | ||||||||
Won equivalent | Debentures | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 4,569,676 | 4,767,511 | ||||||||
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 | 4,513,826 | 3,248,837 | ||||||||
Won equivalent | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | 12,403,265 | 10,130,715 | ||||||||
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 | $ | $ 35,850 | $ 30,611 | ||||||||
USD | Foreign currency | Cash and cash equivalents | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | $ | 3,176 | 5,584 | ||||||||
USD | Foreign currency | Financial assets at FVTPL | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | $ | 468 | 280 | ||||||||
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 | $ | 28,771 | 21,687 | ||||||||
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 | $ | 3,195 | 2,741 | ||||||||
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 | $ | 240 | 319 | ||||||||
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 | $ | 32,148 | 29,101 | ||||||||
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 | $ | 274 | 426 | ||||||||
USD | Foreign currency | Deposits due to customers | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | $ | 19,803 | 16,664 | ||||||||
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 | $ | 5,766 | 5,657 | ||||||||
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 | $ | 3,566 | 3,973 | ||||||||
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 | $ | 2,739 | 2,381 | ||||||||
USD | Foreign currency | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | $ | $ 8,047 | $ 7,441 | ||||||||
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 | 42,501,266 | 33,304,384 | ||||||||
USD | Won equivalent | Cash and cash equivalents | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 3,765,460 | 6,074,879 | ||||||||
USD | Won equivalent | Financial assets at FVTPL | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 556,296 | 304,146 | ||||||||
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 | 34,108,109 | 23,595,957 | ||||||||
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 | 3,787,466 | 2,981,832 | ||||||||
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 | 283,935 | 347,570 | ||||||||
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 | 38,111,504 | 31,661,537 | ||||||||
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 | 324,420 | 463,678 | ||||||||
USD | Won equivalent | Deposits due to customers | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 23,476,384 | 18,130,448 | ||||||||
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 | 6,835,191 | 6,154,464 | ||||||||
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 | 4,228,055 | 4,322,800 | ||||||||
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 | 3,247,454 | 2,590,147 | ||||||||
USD | Won equivalent | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | 9,540,185 | 8,095,297 | ||||||||
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 | ¥ | ¥ 195,428 | ¥ 214,469 | ||||||||
JPY | Foreign currency | Cash and cash equivalents | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | ¥ | 15,834 | 22,832 | ||||||||
JPY | Foreign currency | Financial assets at FVTPL | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | ¥ | 14,618 | 18,855 | ||||||||
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 | ¥ | 164,976 | 172,782 | ||||||||
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 | 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 | 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 | ¥ | 278,172 | 289,797 | ||||||||
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 | ¥ | 16,384 | 14,493 | ||||||||
JPY | Foreign currency | Deposits due to customers | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | ¥ | 219,514 | 220,153 | ||||||||
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 | ¥ | 31,601 | 48,446 | ||||||||
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 | ¥ | 10,673 | 6,705 | ||||||||
JPY | Foreign currency | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | ¥ | ¥ 32,777 | ¥ 24,992 | ||||||||
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 | 1,993,709 | 2,261,045 | ||||||||
JPY | Won equivalent | Cash and cash equivalents | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 163,131 | 240,710 | ||||||||
JPY | Won equivalent | Financial assets at FVTPL | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 150,596 | 198,781 | ||||||||
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 | 1,679,982 | 1,821,554 | ||||||||
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 | 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 | 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 | 2,866,021 | 3,055,215 | ||||||||
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 | 168,798 | 152,792 | ||||||||
JPY | Won equivalent | Deposits due to customers | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 2,261,520 | 2,320,983 | ||||||||
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 | 325,745 | 510,750 | ||||||||
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 | 109,958 | 70,690 | ||||||||
JPY | Won equivalent | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | 337,685 | 263,478 | ||||||||
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 | ¥ | ¥ 29,367 | ¥ 31,484 | ||||||||
CNY | Foreign currency | Cash and cash equivalents | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | ¥ | 1,236 | 4,580 | ||||||||
CNY | Foreign currency | Financial assets at FVTPL | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | ¥ | 0 | 73 | ||||||||
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 | ¥ | 23,733 | 24,230 | ||||||||
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 | ¥ | 3,899 | 2,601 | ||||||||
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 | ¥ | 499 | 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 | ¥ | 29,000 | 28,586 | ||||||||
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 customers | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | ¥ | 26,342 | 26,733 | ||||||||
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 | ¥ | 0 | 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 | 0 | ||||||||
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 | ¥ | 2,658 | 1,853 | ||||||||
CNY | Foreign currency | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | ¥ | ¥ 2,533 | ¥ 3,007 | ||||||||
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 | 5,469,966 | 5,256,368 | ||||||||
CNY | Won equivalent | Cash and cash equivalents | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 230,188 | 764,686 | ||||||||
CNY | Won equivalent | Financial assets at FVTPL | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 0 | 11,989 | ||||||||
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 | 4,420,551 | 4,045,435 | ||||||||
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 | 726,310 | 434,258 | ||||||||
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 | 92,917 | 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 | 5,401,566 | 4,772,619 | ||||||||
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 customers | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 4,906,441 | 4,463,300 | ||||||||
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 | 0 | 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 | 0 | ||||||||
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 | 495,125 | 309,319 | ||||||||
CNY | Won equivalent | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | 471,852 | 502,106 | ||||||||
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 | € | € 2,812 | € 2,435 | ||||||||
EUR | Foreign currency | Cash and cash equivalents | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | € | 94 | 115 | ||||||||
EUR | Foreign currency | Financial assets at FVTPL | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | € | 327 | 248 | ||||||||
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 | € | 2,329 | 2,001 | ||||||||
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 | € | 33 | 37 | ||||||||
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 | € | 29 | 34 | ||||||||
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 | € | 2,563 | 2,344 | ||||||||
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 | € | 239 | 158 | ||||||||
EUR | Foreign currency | Deposits due to customers | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | € | 1,640 | 1,532 | ||||||||
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 | € | 349 | 590 | ||||||||
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 | € | 335 | 64 | ||||||||
EUR | Foreign currency | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | € | € 598 | € 533 | ||||||||
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 | 3,774,318 | 3,259,704 | ||||||||
EUR | Won equivalent | Cash and cash equivalents | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 125,513 | 154,154 | ||||||||
EUR | Won equivalent | Financial assets at FVTPL | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 438,662 | 332,182 | ||||||||
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 | 3,126,363 | 2,678,382 | ||||||||
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 | 44,638 | 49,789 | ||||||||
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 | 39,142 | 45,197 | ||||||||
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 | 3,441,608 | 3,137,433 | ||||||||
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 | 321,354 | 211,525 | ||||||||
EUR | Won equivalent | Deposits due to customers | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 2,201,233 | 2,050,400 | ||||||||
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 | 469,124 | 789,955 | ||||||||
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 | 449,897 | 85,553 | ||||||||
EUR | Won equivalent | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | 803,357 | 712,846 | ||||||||
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 | 7,527,694 | 6,129,510 | ||||||||
Others | Won equivalent | Cash and cash equivalents | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 826,870 | 501,900 | ||||||||
Others | Won equivalent | Financial assets at FVTPL | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 71,369 | 88,745 | ||||||||
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 | 5,749,685 | 4,857,438 | ||||||||
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 | 741,348 | 565,893 | ||||||||
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 | 138,422 | 115,534 | ||||||||
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 | 6,950,455 | 4,894,133 | ||||||||
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 | 203,523 | 115,429 | ||||||||
Others | Won equivalent | Deposits due to customers | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 4,798,322 | 3,443,631 | ||||||||
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 | 1,395,597 | 697,234 | ||||||||
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 | 341,621 | 444,711 | ||||||||
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 | 211,392 | 193,128 | ||||||||
Others | Won equivalent | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | ₩ 1,250,186 | ₩ 556,988 |
Risk Management - Cash flow fro
Risk Management - Cash flow from principal and interest payments of nonderivative financial liabilities by remaining contractual maturities (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items] | ||
Financial liabilities at FVTPL | ₩ 310,388 | ₩ 353,935 |
Deposits due to customers | 320,328,853 | 293,391,460 |
Borrowings | 24,995,360 | 20,906,701 |
Debentures | 46,284,097 | 39,224,937 |
Lease liabilities | 345,121 | 409,443 |
Other financial liabilities | 20,538,693 | 10,807,314 |
Total | 412,802,512 | 365,093,790 |
Within 3 months | ||
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items] | ||
Financial liabilities at FVTPL | 100,976 | 64,183 |
Deposits due to customers | 224,881,863 | 191,660,253 |
Borrowings | 9,477,536 | 10,159,819 |
Debentures | 3,068,600 | 3,246,233 |
Lease liabilities | 41,731 | 53,429 |
Other financial liabilities | 17,614,313 | 8,121,978 |
Total | 255,185,019 | 213,305,895 |
4 to 6 months | ||
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items] | ||
Financial liabilities at FVTPL | 10,397 | 135,232 |
Deposits due to customers | 32,559,199 | 34,349,298 |
Borrowings | 4,366,223 | 2,524,572 |
Debentures | 4,201,926 | 3,396,427 |
Lease liabilities | 53,245 | 44,551 |
Other financial liabilities | 290,584 | 70,277 |
Total | 41,481,574 | 40,520,357 |
7 to 9 months | ||
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items] | ||
Financial liabilities at FVTPL | 91,785 | 42,418 |
Deposits due to customers | 20,290,566 | 25,213,410 |
Borrowings | 2,415,548 | 1,714,490 |
Debentures | 5,316,672 | 3,929,346 |
Lease liabilities | 30,148 | 40,809 |
Other financial liabilities | 12,190 | 10,294 |
Total | 28,156,909 | 30,950,767 |
10 to 12 months | ||
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items] | ||
Financial liabilities at FVTPL | 107,230 | 112,102 |
Deposits due to customers | 31,768,748 | 31,144,452 |
Borrowings | 2,494,732 | 1,866,810 |
Debentures | 5,371,869 | 3,495,915 |
Lease liabilities | 25,494 | 34,761 |
Other financial liabilities | 11,894 | 10,897 |
Total | 39,779,967 | 36,664,937 |
1 to 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items] | ||
Financial liabilities at FVTPL | 0 | 0 |
Deposits due to customers | 9,213,279 | 9,230,904 |
Borrowings | 5,800,815 | 4,177,634 |
Debentures | 24,982,746 | 21,899,788 |
Lease liabilities | 156,228 | 201,113 |
Other financial liabilities | 610,514 | 451,096 |
Total | 40,763,582 | 35,960,535 |
Over 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items] | ||
Financial liabilities at FVTPL | 0 | 0 |
Deposits due to customers | 1,615,198 | 1,793,143 |
Borrowings | 440,506 | 463,376 |
Debentures | 3,342,284 | 3,257,228 |
Lease liabilities | 38,275 | 34,780 |
Other financial liabilities | 1,999,198 | 2,142,772 |
Total | ₩ 7,435,461 | ₩ 7,691,299 |
Risk Management - Cash flow f_2
Risk Management - Cash flow from principal and interest payments of nonderivative financial liabilities by expected maturities (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of maturity analysis for derivative financial liabilities by estimated redemption or withdrawal [Line Items] | ||
Financial liabilities at FVTPL | ₩ 310,388 | ₩ 353,935 |
Deposits due to customers | 319,930,769 | 292,933,587 |
Borrowings | 24,995,360 | 20,906,701 |
Debentures | 46,284,097 | 39,224,937 |
Lease liabilities | 354,751 | 419,421 |
Other financial liabilities | 20,538,693 | 10,807,314 |
Total | 412,414,058 | 364,645,895 |
Within 3 months | ||
Disclosure of maturity analysis for derivative financial liabilities by estimated redemption or withdrawal [Line Items] | ||
Financial liabilities at FVTPL | 100,976 | 68,909 |
Deposits due to customers | 230,823,884 | 199,931,480 |
Borrowings | 9,477,536 | 10,159,819 |
Debentures | 3,068,600 | 3,246,233 |
Lease liabilities | 41,716 | 53,429 |
Other financial liabilities | 17,614,313 | 8,121,978 |
Total | 261,127,025 | 221,581,848 |
4 to 6 months | ||
Disclosure of maturity analysis for derivative financial liabilities by estimated redemption or withdrawal [Line Items] | ||
Financial liabilities at FVTPL | 10,397 | 131,496 |
Deposits due to customers | 33,705,990 | 35,912,096 |
Borrowings | 4,366,223 | 2,524,572 |
Debentures | 4,201,926 | 3,396,427 |
Lease liabilities | 53,260 | 44,894 |
Other financial liabilities | 290,584 | 70,277 |
Total | 42,628,380 | 42,079,762 |
7 to 9 months | ||
Disclosure of maturity analysis for derivative financial liabilities by estimated redemption or withdrawal [Line Items] | ||
Financial liabilities at FVTPL | 91,785 | 41,428 |
Deposits due to customers | 20,107,790 | 23,924,403 |
Borrowings | 2,415,548 | 1,714,490 |
Debentures | 5,316,672 | 3,929,346 |
Lease liabilities | 30,216 | 40,949 |
Other financial liabilities | 12,190 | 10,294 |
Total | 27,974,201 | 29,660,910 |
10 to 12 months | ||
Disclosure of maturity analysis for derivative financial liabilities by estimated redemption or withdrawal [Line Items] | ||
Financial liabilities at FVTPL | 107,230 | 112,102 |
Deposits due to customers | 27,331,774 | 25,477,917 |
Borrowings | 2,494,732 | 1,866,810 |
Debentures | 5,371,869 | 3,495,915 |
Lease liabilities | 25,653 | 35,074 |
Other financial liabilities | 11,894 | 10,897 |
Total | 35,343,152 | 30,998,715 |
1 to 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 | 7,871,688 | 7,582,278 |
Borrowings | 5,800,815 | 4,177,634 |
Debentures | 24,982,746 | 21,899,788 |
Lease liabilities | 162,092 | 208,125 |
Other financial liabilities | 610,514 | 451,096 |
Total | 39,427,855 | 34,318,921 |
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 | 89,643 | 105,413 |
Borrowings | 440,506 | 463,376 |
Debentures | 3,342,284 | 3,257,228 |
Lease liabilities | 41,814 | 36,950 |
Other financial liabilities | 1,999,198 | 2,142,772 |
Total | ₩ 5,913,445 | ₩ 6,005,739 |
Risk Management - Cash flow of
Risk Management - Cash flow of derivative financial liabilities by maturities (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | ||
Cash flow risk hedge | ₩ (7,976) | ₩ 65,157 |
Fair value risk hedge | 20,946 | 25 |
Trading purpose | 4,566,443 | 6,460,472 |
Within 3 months | ||
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | ||
Cash flow risk hedge | 246 | 2,655 |
Fair value risk hedge | (1,656) | 255 |
Trading purpose | 4,566,443 | 6,460,472 |
4 to 6 months | ||
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | ||
Cash flow risk hedge | (206) | 6,004 |
Fair value risk hedge | 598 | (302) |
Trading purpose | 0 | 0 |
7 to 9 months | ||
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | ||
Cash flow risk hedge | (502) | 515 |
Fair value risk hedge | (940) | 233 |
Trading purpose | 0 | 0 |
10 to 12 months | ||
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | ||
Cash flow risk hedge | (717) | 239 |
Fair value risk hedge | 1,392 | (287) |
Trading purpose | 0 | 0 |
1 to 5 years | ||
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | ||
Cash flow risk hedge | (2,744) | 55,744 |
Fair value risk hedge | 21,552 | 126 |
Trading purpose | 0 | 0 |
Over 5 years | ||
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | ||
Cash flow risk hedge | (4,053) | 0 |
Fair value risk hedge | 0 | 0 |
Trading purpose | ₩ 0 | ₩ 0 |
Risk Management - Maturity anal
Risk Management - Maturity analysis of Offbalance accounts (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of maturity analysis for off balance sheet item [Abstract] | ||
Guarantees | ₩ 12,987,809 | ₩ 11,809,456 |
Loan commitments | 114,414,462 | 112,088,680 |
Other commitments | ₩ 3,427,331 | ₩ 4,933,086 |
Risk Management - Capital adequ
Risk Management - Capital adequacy ratio (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of objectives policies and processes for managing capital [Abstract] | ||
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. |
Summary of quantitative data about what entity manages as capital | According to the above regulations, the Group is required to meet the following new minimum requirements: Tier 1 common capital ratio of 8.0%, a Tier 1 capital ratio of 9.5%, and a minimum total capital ratio of 11.5% as of December 31, 2020 and 2021. | According to the above regulations, the Group is required to meet the following new minimum requirements: Tier 1 common capital ratio of 8.0%, a Tier 1 capital ratio of 9.5%, and a minimum total capital ratio of 11.5% as of December 31, 2020 and 2021. |
Minimum common equity tier one ratio | 8.00% | 8.00% |
Minimum tier one ratio | 9.50% | 9.50% |
Minimum total regulatory capital ratio | 11.50% | 11.50% |
Tier one risk based capital [Abstract] | ||
Common Equity Tier 1 capital | ₩ 21,948,988 | ₩ 19,828,094 |
Other Tier 1 capital | 3,592,591 | 3,533,648 |
Tier 2 capital | 3,399,065 | 4,086,035 |
Total risk adjusted capital | 28,940,644 | 27,447,777 |
Risk weighted assets for credit risk | 171,199,840 | 178,114,590 |
Risk weighted assets for market risk | 6,388,428 | 6,086,905 |
Risk weighted assets for operational risk | 14,914,801 | 14,067,185 |
Total risk weighted assets | ₩ 192,503,069 | ₩ 198,268,680 |
Common Equity Tier 1 ratio | 11.40% | 10.00% |
Tier 1 capital ratio | 13.27% | 11.78% |
Total capital ratio | 15.03% | 13.84% |
Operating Segments - Details by
Operating Segments - Details by reporting segment (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||||||||
Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | Dec. 31, 2019KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2018KRW (₩) | |||||
Inter segment transaction [Line Items] | ||||||||||
Net Interest income(expense) | ₩ 6,985,721 | $ 5,877,268 | ₩ 5,998,512 | ₩ 5,893,706 | ||||||
Non-interest income(expense) | 1,358,277 | 822,434 | 1,046,591 | |||||||
Impairment losses due to credit loss | (536,838) | (451,656) | (784,371) | (374,244) | ||||||
General and administrative expense | (4,147,411) | (3,489,324) | (3,956,181) | (3,766,077) | ||||||
Net operating income (expense) | 3,659,749 | 3,079,042 | 2,080,394 | 2,799,976 | ||||||
Other non-operating income (expense) | (34,900) | (29,362) | (180,220) | (160,924) | ||||||
Share of gain (loss) of associates | 62,196 | 52,327 | 101,077 | 83,997 | ||||||
Non-operating income (expense) | 27,296 | 22,965 | (79,143) | (76,927) | ||||||
Net income (expense) before tax | 3,687,045 | 3,102,007 | 2,001,251 | 2,723,049 | ||||||
Tax income (expense) | (924,766) | (778,030) | (486,002) | (685,453) | ||||||
Net income (loss) | 2,762,279 | $ 2,323,977 | 1,515,249 | 2,037,596 | ||||||
Total assets | 447,183,871 | 399,081,017 | 361,980,724 | $ 376,227,386 | ||||||
Investment in associate | 1,335,167 | 993,291 | 806,360 | 1,123,311 | ₩ 361,766 | |||||
Other assets | 445,848,704 | 398,087,726 | 361,174,364 | |||||||
Total liabilities | 418,378,768 | 372,355,172 | 336,488,392 | $ 351,992,906 | ||||||
Banking | ||||||||||
Inter segment transaction [Line Items] | ||||||||||
Net Interest income(expense) | 5,158,078 | [1] | 4,545,155 | [2] | 4,583,386 | |||||
Non-interest income(expense) | 1,661,903 | [1] | 1,423,286 | [2] | 1,557,247 | |||||
Impairment losses due to credit loss | (140,574) | [1] | (512,008) | [2] | (32,621) | |||||
General and administrative expense | (3,606,715) | [1] | (3,545,186) | [2] | (3,478,535) | |||||
Net operating income (expense) | 3,072,692 | [1] | 1,911,247 | [2] | 2,629,477 | |||||
Other non-operating income (expense) | (19,654) | [1] | (50,132) | [2] | (108,246) | |||||
Share of gain (loss) of associates | 60,049 | [1] | (6,895) | [2] | (43,102) | |||||
Non-operating income (expense) | 40,395 | [1] | (57,027) | [2] | (151,348) | |||||
Net income (expense) before tax | 3,113,087 | [1] | 1,854,220 | [2] | 2,478,129 | |||||
Tax income (expense) | (773,073) | [1] | (437,288) | [2] | (616,110) | |||||
Net income (loss) | 2,340,014 | [1] | 1,416,932 | [2] | 1,862,019 | |||||
Total assets | 415,976,627 | [1] | 374,120,064 | [2] | 347,819,743 | |||||
Investment in associate | 858,706 | [1] | 3,382,650 | [2] | 3,161,729 | |||||
Other assets | 415,117,921 | [1] | 370,737,414 | [2] | 344,658,014 | |||||
Total liabilities | 391,360,200 | [1] | 348,706,682 | [2] | 323,592,850 | |||||
Credit Card | ||||||||||
Inter segment transaction [Line Items] | ||||||||||
Net Interest income(expense) | 606,506 | 564,461 | 553,956 | |||||||
Non-interest income(expense) | 63,839 | 3,648 | 31,842 | |||||||
Impairment losses due to credit loss | (164,097) | (195,816) | (259,604) | |||||||
General and administrative expense | (225,175) | (207,301) | (190,062) | |||||||
Net operating income (expense) | 281,073 | 164,992 | 136,132 | |||||||
Other non-operating income (expense) | (7,936) | (5,569) | 13,889 | |||||||
Share of gain (loss) of associates | 0 | 0 | 0 | |||||||
Non-operating income (expense) | (7,936) | (5,569) | 13,889 | |||||||
Net income (expense) before tax | 273,137 | 159,423 | 150,021 | |||||||
Tax income (expense) | (72,411) | (39,193) | (35,825) | |||||||
Net income (loss) | 200,726 | 120,230 | 114,196 | |||||||
Total assets | 14,116,832 | 11,366,596 | 10,087,342 | |||||||
Investment in associate | 0 | 0 | 0 | |||||||
Other assets | 14,116,832 | 11,366,596 | 10,087,342 | |||||||
Total liabilities | 11,858,065 | 9,312,986 | 8,299,175 | |||||||
Capital | ||||||||||
Inter segment transaction [Line Items] | ||||||||||
Net Interest income(expense) | 315,600 | |||||||||
Non-interest income(expense) | 95,297 | |||||||||
Impairment losses due to credit loss | (122,089) | |||||||||
General and administrative expense | (99,048) | |||||||||
Net operating income (expense) | 189,760 | |||||||||
Other non-operating income (expense) | (16,943) | |||||||||
Share of gain (loss) of associates | 1,000 | |||||||||
Non-operating income (expense) | (15,943) | |||||||||
Net income (expense) before tax | 173,817 | |||||||||
Tax income (expense) | (33,238) | |||||||||
Net income (loss) | 140,579 | |||||||||
Total assets | 10,259,868 | |||||||||
Investment in associate | 12,403 | |||||||||
Other assets | 10,247,465 | |||||||||
Total liabilities | 9,073,104 | |||||||||
Investment banking | ||||||||||
Inter segment transaction [Line Items] | ||||||||||
Net Interest income(expense) | 108,321 | 78,302 | 54,077 | |||||||
Non-interest income(expense) | 49,419 | 34,497 | 33,539 | |||||||
Impairment losses due to credit loss | (1,885) | (4,146) | (572) | |||||||
General and administrative expense | (51,490) | (39,039) | (31,183) | |||||||
Net operating income (expense) | 104,365 | 69,614 | 55,861 | |||||||
Other non-operating income (expense) | (660) | (945) | (3,501) | |||||||
Share of gain (loss) of associates | 750 | 170 | 0 | |||||||
Non-operating income (expense) | 90 | (775) | (3,501) | |||||||
Net income (expense) before tax | 104,455 | 68,839 | 52,360 | |||||||
Tax income (expense) | (24,531) | (5,902) | 998 | |||||||
Net income (loss) | 79,924 | 62,937 | 53,358 | |||||||
Total assets | 5,159,742 | 4,332,474 | 3,398,960 | |||||||
Investment in associate | 8,846 | 2,494 | 775 | |||||||
Other assets | 5,150,896 | 4,329,980 | 3,398,185 | |||||||
Total liabilities | 4,559,856 | 3,803,594 | 3,031,622 | |||||||
Others | ||||||||||
Inter segment transaction [Line Items] | ||||||||||
Net Interest income(expense) | 29,515 | [3] | 69,188 | [4] | 2,290 | [5] | ||||
Non-interest income(expense) | 1,111,422 | [3] | 1,071,852 | [4] | 957,880 | [5] | ||||
Impairment losses due to credit loss | (19,601) | [3] | (43,660) | [4] | (538) | [5] | ||||
General and administrative expense | (440,601) | [3] | (416,595) | [4] | (323,528) | [5] | ||||
Net operating income (expense) | 680,735 | [3] | 680,785 | [4] | 636,104 | [5] | ||||
Other non-operating income (expense) | (1,071) | [3] | (484) | [4] | (1,244) | |||||
Share of gain (loss) of associates | 4,390 | [3] | 1,255 | [4] | (301) | |||||
Non-operating income (expense) | 3,319 | [3] | 771 | [4] | (1,545) | [5] | ||||
Net income (expense) before tax | 684,054 | [3] | 681,556 | [4] | 634,559 | [5] | ||||
Tax income (expense) | (16,799) | [3] | (29,372) | [4] | (1,294) | [5] | ||||
Net income (loss) | 667,255 | [3] | 652,184 | [4] | 633,265 | [5] | ||||
Total assets | 25,627,649 | [3] | 31,872,690 | [4] | 21,681,769 | [5] | ||||
Investment in associate | 22,165,895 | [3] | 21,586,506 | [4] | 19,880,642 | [5] | ||||
Other assets | 3,461,754 | [3] | 10,286,184 | [4] | 1,801,127 | [5] | ||||
Total liabilities | 3,284,269 | [3] | 9,606,742 | [4] | 1,225,422 | [5] | ||||
Reporting segment total | ||||||||||
Inter segment transaction [Line Items] | ||||||||||
Net Interest income(expense) | 6,218,020 | 5,257,106 | 5,193,709 | |||||||
Non-interest income(expense) | 2,981,880 | 2,533,283 | 2,580,508 | |||||||
Impairment losses due to credit loss | (448,246) | (755,630) | (293,335) | |||||||
General and administrative expense | (4,423,029) | (4,208,121) | (4,023,308) | |||||||
Net operating income (expense) | 4,328,625 | 2,826,638 | 3,457,574 | |||||||
Other non-operating income (expense) | 15,932 | (57,130) | (99,102) | |||||||
Share of gain (loss) of associates | 66,189 | (5,470) | (43,403) | |||||||
Non-operating income (expense) | 82,121 | (62,600) | (142,505) | |||||||
Net income (expense) before tax | 4,410,746 | 2,764,038 | 3,315,069 | |||||||
Tax income (expense) | (937,156) | (511,755) | (652,231) | |||||||
Net income (loss) | 3,473,590 | 2,252,283 | 2,662,838 | |||||||
Total assets | 471,140,718 | 421,691,824 | 382,987,814 | |||||||
Investment in associate | 23,045,850 | 24,971,650 | 23,043,146 | |||||||
Other assets | 448,094,868 | 396,720,174 | 359,944,668 | |||||||
Total liabilities | 420,090,402 | 371,430,004 | 336,149,069 | |||||||
Adjustments | ||||||||||
Inter segment transaction [Line Items] | ||||||||||
Net Interest income(expense) | [6] | 767,701 | 741,406 | 699,997 | ||||||
Non-interest income(expense) | [6] | (1,623,603) | (1,710,849) | (1,533,917) | ||||||
Impairment losses due to credit loss | [6] | (88,592) | (28,741) | (80,909) | ||||||
General and administrative expense | [6] | 275,618 | 251,940 | 257,231 | ||||||
Net operating income (expense) | [6] | (668,876) | (746,244) | (657,598) | ||||||
Other non-operating income (expense) | [6] | 11,364 | (123,090) | (61,822) | ||||||
Share of gain (loss) of associates | [6] | (3,993) | 106,547 | 127,400 | ||||||
Non-operating income (expense) | [6] | 7,371 | (16,543) | 65,578 | ||||||
Net income (expense) before tax | [6] | (661,505) | (762,787) | (592,020) | ||||||
Tax income (expense) | [6] | (4,714) | 25,753 | (33,222) | ||||||
Net income (loss) | [6] | (666,219) | (737,034) | (625,242) | ||||||
Total assets | [6] | (23,956,847) | (22,610,807) | (21,007,090) | ||||||
Investment in associate | [6] | (21,710,683) | (23,978,359) | (22,236,786) | ||||||
Other assets | [6] | (2,246,164) | 1,367,552 | 1,229,696 | ||||||
Total liabilities | [6] | ₩ (1,756,726) | ₩ 925,168 | ₩ 339,323 | ||||||
[1] | The banking sector includes the Bank and their consolidated subsidiaries (such as overseas subsidiaries). | |||||||||
[2] | The banking sector includes the Bank and overseas subsidiaries. | |||||||||
[3] | Other segments include Woori Financial Group Inc., Woori Asset Trust Co., Ltd., Woori Asset Management Corp., Woori Savings Bank, Woori Credit Information Co., Ltd., Woori Fund Service Inc., Woori Private Equity Asset Management Co., Ltd., Woori Global Asset Management Co., Ltd., Woori FIS Co., Ltd. and Woori Finance Research Institute. | |||||||||
[4] | Other segments include gains and losses from Woori Financial Group Inc., Woori Financial Capital Co., Ltd.(Profit or loss for 3 months after incorporation into subsidiary), Woori Asset Trust Co., Ltd., Woori Asset Management Corp., Woori Credit Information Co., Ltd., Woori Fund Service Inc., Woori Private Equity Asset Management Co., Ltd., Woori Global Asset Management Co., Ltd., Woori FIS Co., Ltd. and Woori Finance Research Co., Ltd.. | |||||||||
[5] | Other segments include gains and losses from Woori Financial Group Inc., Woori Asset Management Corp., Woori Credit Information Co., Ltd., Woori Fund Service Inc., Woori Private Equity Asset Management Co., Ltd., Woori Global Asset Management Co., Ltd., Woori FIS Co., Ltd. and Woori Finance Research Co., Ltd., | |||||||||
[6] | Adjustments were made for the presentation of profit or loss in accordance with the Accounting Standards from the reporting segments in accordance with the Managerial Accounting Standards. |
Operating Segments - Informatio
Operating Segments - Information on geographical areas (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | ||||
Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | Dec. 31, 2019KRW (₩) | ||
Disclosure of geographical areas [line items] | |||||
Operating income(expense) | ₩ 3,659,749 | $ 3,079,042 | ₩ 2,080,394 | ₩ 2,799,976 | |
Major non-current assets | [1] | 5,684,768 | 5,460,030 | ||
Domestic customers | |||||
Disclosure of geographical areas [line items] | |||||
Operating income(expense) | 3,288,341 | 1,869,516 | 2,500,504 | ||
Major non-current assets | [1] | 5,201,838 | 5,026,161 | ||
Foreign customers | |||||
Disclosure of geographical areas [line items] | |||||
Operating income(expense) | 371,408 | 210,878 | ₩ 299,472 | ||
Major non-current assets | [1] | ₩ 482,930 | ₩ 433,869 | ||
[1] | Major non-current assets included investments in joint ventures and associates, investment properties, property, plant and equipment, and intangible assets. |
Operating Segments - Informat_2
Operating Segments - Information about major customers (Details) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of major customers [abstract] | ||
Information about major customers | The Group does not have any single customer that generates 10% or more of the Group’s total revenue | The Group does not have any single customer that generates 10% or more of the Group’s total revenue |
Statements of cash flows - Summ
Statements of cash flows - Summary of cash and cash equivalents (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | Dec. 31, 2020USD ($) | Dec. 31, 2019KRW (₩) | Dec. 31, 2018KRW (₩) |
Cash and cash equivalents [abstract] | ||||||
Cash | ₩ 1,742,449 | ₩ 1,611,282 | ||||
Foreign currencies | 503,205 | 514,565 | ||||
Demand deposits | 5,161,529 | 7,314,353 | ||||
Fixed deposits | 158,635 | 550,783 | ||||
Total | ₩ 7,565,818 | $ 6,365,319 | ₩ 9,990,983 | $ 8,405,673 | ₩ 6,392,566 | ₩ 6,747,894 |
Statements of cash flows - Su_2
Statements of cash flows - Summary of Significant transactions of investing activities and financing activities not involving cash inflows and outflows (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | Dec. 31, 2019KRW (₩) | |
Cash Flow Noncash Investing and Financing Activities Disclosure [Abstract] | ||||
Changes in other comprehensive income related to valuation of financial assets at FVTOCI | ₩ (150,327) | $ (126,474) | ₩ 59,360 | ₩ (14,141) |
Changes in other comprehensive income related to valuation of investments in joint ventures and associates | 1,526 | (2,298) | 613 | |
Changes in other comprehensive income related to valuation loss on cash flow hedge | 7,107 | 5,979 | 4,420 | (1,823) |
Changes in financial assets at FVTOCI due to debt-for-equity swap | 79 | 3,575 | 96,527 | |
Changes in the investments in joint ventures and associates due to the transfer of assets held-for-sale | (52) | (50,411) | 651 | |
Changes in financial assets at FVTPL and assets held-for-sale | 0 | (2,385) | 0 | |
Transfer from property, plant and equipment to assets held-for-sale | (12,852) | 0 | (95) | |
Transfer of investment properties and premises and equipment | 6,095 | 30,431 | 166,892 | |
Changes in account payables related to intangible assets | (11,640) | (11,639) | 29,705 | |
Changes in right-of-use assets and lease liabilities | 150,644 | 222,587 | 692,103 | |
Comprehensive stock exchange | 64,301 | 0 | 581,609 | |
Changes in other comprehensive income related to foreign operation translation | ₩ 246,808 | $ 207,646 | ₩ (153,472) | ₩ 101,781 |
Statements of cash flows - Su_3
Statements of cash flows - Summary of Adjustments from Financing Activities (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||||
Beginning balance | ₩ 58,658,609 | ₩ 50,299,929 | ||
Changes in liabilities arising from financing activities [abstract] | ||||
Cash flow | 9,929,953 | 2,746,864 | ||
Not involving cash inflows and outflows | ||||
Foreign Exchange | 1,207,676 | (881,397) | ||
Variation of gains on valuation of hedged items | (104,306) | 58,861 | ||
Business Combination | 6,283,351 | |||
Others | 87,511 | [1] | 151,001 | [2] |
Ending balance | 69,779,443 | 58,658,609 | ||
Debentures | ||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||||
Beginning balance | 37,479,358 | 30,858,055 | ||
Changes in liabilities arising from financing activities [abstract] | ||||
Cash flow | 6,893,661 | 913,836 | ||
Not involving cash inflows and outflows | ||||
Foreign Exchange | 392,077 | (290,041) | ||
Variation of gains on valuation of hedged items | (104,306) | 58,861 | ||
Business Combination | 5,980,746 | |||
Others | (6,926) | [1] | (42,099) | [2] |
Ending balance | 44,653,864 | 37,479,358 | ||
Lease liabilities | ||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||||
Beginning balance | 407,431 | 419,045 | ||
Changes in liabilities arising from financing activities [abstract] | ||||
Cash flow | (177,593) | (204,794) | ||
Not involving cash inflows and outflows | ||||
Foreign Exchange | 10,950 | (5,141) | ||
Variation of gains on valuation of hedged items | 0 | 0 | ||
Business Combination | 3,751 | |||
Others | 102,425 | [1] | 194,570 | [2] |
Ending balance | 343,213 | 407,431 | ||
Borrowing [Member] | ||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||||
Beginning balance | 20,745,466 | 18,998,920 | ||
Changes in liabilities arising from financing activities [abstract] | ||||
Cash flow | 3,199,712 | 2,033,851 | ||
Not involving cash inflows and outflows | ||||
Foreign Exchange | 804,649 | (586,215) | ||
Variation of gains on valuation of hedged items | 0 | 0 | ||
Business Combination | 298,854 | |||
Others | 5,632 | [1] | 56 | [2] |
Ending balance | 24,755,459 | 20,745,466 | ||
Other Liabilities | ||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||||
Beginning balance | 26,354 | 23,909 | ||
Changes in liabilities arising from financing activities [abstract] | ||||
Cash flow | 14,173 | 3,971 | ||
Not involving cash inflows and outflows | ||||
Foreign Exchange | 0 | 0 | ||
Variation of gains on valuation of hedged items | 0 | 0 | ||
Business Combination | 0 | |||
Others | (13,620) | [1] | (1,526) | [2] |
Ending balance | ₩ 26,907 | ₩ 26,354 | ||
[1] | The change in lease liabilities due to the new contract includes 189,660 million Won. | |||
[2] | The change in lease liabilities due to the new contract includes 231,325 million Won. |
Statements of cash flows - Su_4
Statements of cash flows - Summary of Adjustments from Financing Activities (Parenthetical) (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of reconciliation of liabilities arising from financing activities [abstract] | ||
Lease liabilities | ₩ 189,660 | ₩ 231,325 |
Financial assets at FVTPL - Det
Financial assets at FVTPL - Details of financial assets at FVTPL (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) |
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Financial assets at FVTPL mandatorily measured at fair value | ₩ 13,497,234 | ₩ 14,762,941 | |
Total | 13,497,234 | $ 11,355,573 | 14,762,941 |
Deposits | |||
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Total | 65,072 | 48,796 | |
Gold banking asset | |||
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Financial assets at FVTPL mandatorily measured at fair value | 65,072 | 48,796 | |
Securities | |||
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Financial assets at FVTPL mandatorily measured at fair value | 7,960,046 | 7,136,112 | |
Total | 7,960,046 | 7,136,112 | |
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 | 995,713 | 1,020,418 | |
Financial institutions | |||
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Financial assets at FVTPL mandatorily measured at fair value | 925,474 | 873,031 | |
Corporates [Member] | |||
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Financial assets at FVTPL mandatorily measured at fair value | 751,636 | 761,681 | |
Equity securities | |||
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Financial assets at FVTPL mandatorily measured at fair value | 329,864 | 485,793 | |
Capital contributions | |||
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Financial assets at FVTPL mandatorily measured at fair value | 1,287,723 | 865,685 | |
Beneficiary certificates | |||
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Financial assets at FVTPL mandatorily measured at fair value | 3,504,547 | 2,812,558 | |
Others | |||
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Financial assets at FVTPL mandatorily measured at fair value | 94,673 | 84,979 | |
Loans | |||
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Financial assets at FVTPL mandatorily measured at fair value | 667,467 | 676,291 | |
Derivative assets | |||
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Financial assets at FVTPL mandatorily measured at fair value | 4,803,131 | 6,901,742 | |
Total | 4,803,131 | 6,901,742 | |
Other financial assets | |||
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Financial assets at FVTPL mandatorily measured at fair value | 1,518 | 0 | |
Total | 1,518 | 0 | |
Others [Member] | |||
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Financial assets at FVTPL mandatorily measured at fair value | ₩ 70,416 | ₩ 231,967 |
Financial assets at FVTOCI - De
Financial assets at FVTOCI - Details of financial assets at FVTOCI (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) |
Disclosure of financial assets at fair value through other comprehensive income [Line Items] | |||
Financial assets at FVTOCI | ₩ 39,119,789 | $ 32,912,493 | ₩ 30,028,929 |
Debt Securities | |||
Disclosure of financial assets at fair value through other comprehensive income [Line Items] | |||
Financial assets at FVTOCI | 38,126,977 | 28,948,141 | |
Korean treasury and government agencies | |||
Disclosure of financial assets at fair value through other comprehensive income [Line Items] | |||
Financial assets at FVTOCI | 4,728,085 | 2,922,671 | |
Financial institutions | |||
Disclosure of financial assets at fair value through other comprehensive income [Line Items] | |||
Financial assets at FVTOCI | 22,909,615 | 17,996,660 | |
Corporates | |||
Disclosure of financial assets at fair value through other comprehensive income [Line Items] | |||
Financial assets at FVTOCI | 5,091,035 | 3,896,744 | |
Bond denominated in foreign currencies | |||
Disclosure of financial assets at fair value through other comprehensive income [Line Items] | |||
Financial assets at FVTOCI | 5,299,707 | 4,031,721 | |
Securities Loaned | |||
Disclosure of financial assets at fair value through other comprehensive income [Line Items] | |||
Financial assets at FVTOCI | 98,535 | 100,345 | |
Equity securities | |||
Disclosure of financial assets at fair value through other comprehensive income [Line Items] | |||
Financial assets at FVTOCI | ₩ 992,812 | ₩ 1,080,788 |
Financial assets at FVTOCI - _2
Financial assets at FVTOCI - Details of equity securities designated as financial assets at FVTOCI (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
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 | ₩ 992,812 | ₩ 1,080,788 |
Fair value | 138,511 | 2,848 |
Cumulative gain (loss) on disposal of investments in equity instruments designated at fair value through other comprehensive income | 3,062 | 3,665 |
Investment for strategic business partnership purpose | ||
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 | ₩ 796,835 | ₩ 778,657 |
Description of reason for using presentation alternative | Investment for strategic business partnership purpose | Investment for strategic business partnership purpose |
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 | ₩ 195,971 | ₩ 302,090 |
Description of reason for using presentation alternative | Debt-equity swap | Debt-equity swap |
Others (Insurance for mutual aid association 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 | ₩ 6 | ₩ 41 |
Description of reason for using presentation alternative | Others | Others |
Description of reason for disposing of investments in equity instruments designated at fair value through other comprehensive income | Insurance for mutual aid association etc. |
Financial assets at FVTOCI - Ch
Financial assets at FVTOCI - Changes in allowance for credit losses of financial assets at FVTOCI (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Increase (decrease) in impairment loss financial assets at financial assets at fair value through other comprehensive income [Abstract] | ||||
Impairment loss due to credit loss on financial assets measured at FVTOCI | ₩ (4,909) | ₩ (1,529) | ₩ (3,297) | |
Financial assets at fair value through other comprehensive income, category [member] | ||||
Disclosure of reconciliation of changes in loss allowance for financial assets at fair value through other comprehensive income [Line Items] | ||||
Beginning balance | (9,631) | (8,569) | (6,177) | |
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 | 0 | 0 | |
Transfer to lifetime expected credit losses | 0 | 0 | 0 | |
Transfer to credit-impaired financial assets | 0 | 0 | 0 | |
Impairment loss due to credit loss on financial assets measured at FVTOCI | (4,909) | (1,529) | (3,297) | |
Disposal | 2,378 | 764 | 853 | |
Others | [1] | 16 | (297) | 52 |
Ending balance | (12,146) | (9,631) | (8,569) | |
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 | (9,631) | (8,569) | (5,939) | |
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 | 0 | 0 | |
Transfer to lifetime expected credit losses | 0 | 0 | 0 | |
Transfer to credit-impaired financial assets | 0 | 0 | 0 | |
Impairment loss due to credit loss on financial assets measured at FVTOCI | (4,909) | (1,529) | (3,297) | |
Disposal | 2,378 | 764 | 615 | |
Others | [1] | 16 | (297) | 52 |
Ending balance | (12,146) | (9,631) | (8,569) | |
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 | 0 | 0 | (238) | |
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 | 0 | 0 | |
Transfer to lifetime expected credit losses | 0 | 0 | 0 | |
Transfer to credit-impaired financial assets | 0 | 0 | 0 | |
Impairment loss due to credit loss on financial assets measured at FVTOCI | 0 | 0 | 0 | |
Disposal | 0 | 0 | 238 | |
Others | [1] | 0 | 0 | 0 |
Ending balance | 0 | 0 | 0 | |
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 | 0 | 0 | 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 | 0 | 0 | |
Transfer to lifetime expected credit losses | 0 | 0 | 0 | |
Transfer to credit-impaired financial assets | 0 | 0 | 0 | |
Impairment loss due to credit loss on financial assets measured at FVTOCI | 0 | 0 | 0 | |
Disposal | 0 | 0 | 0 | |
Others | [1] | 0 | 0 | 0 |
Ending balance | ₩ 0 | ₩ 0 | ₩ 0 | |
[1] | Others consist of foreign currencies translation, etc.. |
Financial assets at FVTOCI - _3
Financial assets at FVTOCI - Changes in gross carrying amount of financial assets at FVTOCI (Details) - Financial assets at fair value through other comprehensive income, category [member] - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Explanation of changes in gross carrying amount for financial assets at fair value through other comprehensive income [Line Items] | ||||
Beginning balance | ₩ 28,948,141 | ₩ 26,795,161 | ₩ 17,112,249 | |
Increase (decrease) in financial assets [abstract] | ||||
Transfer to 12-month expected credit losses | 0 | 0 | 0 | |
Transfer to lifetime expected credit losses | 0 | 0 | 0 | |
Transfer to credit-impaired financial assets | 0 | 0 | 0 | |
Acquisition | 30,522,426 | 22,970,010 | 23,774,375 | |
Disposal / Recovery | (21,533,360) | (20,530,076) | (14,249,358) | |
Gain (loss) on valuation | (213,517) | 17,957 | 48,803 | |
Amortization based on effective interest method | 31,641 | (12,545) | 14,629 | |
Business combination | 24,985 | |||
Others | [1] | 371,646 | (292,366) | 69,478 |
Ending balance | 38,126,977 | 28,948,141 | 26,795,161 | |
Stage 1 | ||||
Explanation of changes in gross carrying amount for financial assets at fair value through other comprehensive income [Line Items] | ||||
Beginning balance | 28,948,141 | 26,795,161 | 17,087,096 | |
Increase (decrease) in financial assets [abstract] | ||||
Transfer to 12-month expected credit losses | 0 | 0 | 0 | |
Transfer to lifetime expected credit losses | 0 | 0 | 0 | |
Transfer to credit-impaired financial assets | 0 | 0 | 0 | |
Acquisition | 30,522,426 | 22,970,010 | 23,774,375 | |
Disposal / Recovery | (21,533,360) | (20,530,076) | (14,224,358) | |
Gain (loss) on valuation | (213,517) | 17,957 | 48,956 | |
Amortization based on effective interest method | 31,641 | (12,545) | 14,629 | |
Business combination | 24,985 | |||
Others | [1] | 371,646 | (292,366) | 69,478 |
Ending balance | 38,126,977 | 28,948,141 | 26,795,161 | |
Stage 2 | ||||
Explanation of changes in gross carrying amount for financial assets at fair value through other comprehensive income [Line Items] | ||||
Beginning balance | 0 | 0 | 25,153 | |
Increase (decrease) in financial assets [abstract] | ||||
Transfer to 12-month expected credit losses | 0 | 0 | 0 | |
Transfer to lifetime expected credit losses | 0 | 0 | 0 | |
Transfer to credit-impaired financial assets | 0 | 0 | 0 | |
Acquisition | 0 | 0 | 0 | |
Disposal / Recovery | 0 | 0 | (25,000) | |
Gain (loss) on valuation | 0 | 0 | (153) | |
Amortization based on effective interest method | 0 | 0 | 0 | |
Business combination | 0 | |||
Others | [1] | 0 | 0 | 0 |
Ending balance | 0 | 0 | 0 | |
Stage 3 | ||||
Explanation of changes in gross carrying amount for financial assets at fair value through other comprehensive income [Line Items] | ||||
Beginning balance | 0 | 0 | 0 | |
Increase (decrease) in financial assets [abstract] | ||||
Transfer to 12-month expected credit losses | 0 | 0 | 0 | |
Transfer to lifetime expected credit losses | 0 | 0 | 0 | |
Transfer to credit-impaired financial assets | 0 | 0 | 0 | |
Acquisition | 0 | 0 | 0 | |
Disposal / Recovery | 0 | 0 | 0 | |
Gain (loss) on valuation | 0 | 0 | 0 | |
Amortization based on effective interest method | 0 | 0 | 0 | |
Business combination | 0 | |||
Others | [1] | 0 | 0 | 0 |
Ending balance | ₩ 0 | ₩ 0 | ₩ 0 | |
[1] | Others consist of foreign currencies translation, etc.. |
Securities at amortized cost -
Securities at amortized cost - Details of securities at amortized cost (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) |
Disclosure of securities at amortised cost and held to maturity financial assets [Line Items] | |||
Securities at amortized cost | ₩ 17,086,274 | $ 14,375,125 | ₩ 17,020,839 |
Securities at amortised cost and held to maturity investments category [Member] | Korean treasury and government agencies | |||
Disclosure of securities at amortised cost and held to maturity financial assets [Line Items] | |||
Securities at amortized cost | 8,882,500 | 6,947,495 | |
Securities at amortised cost and held to maturity investments category [Member] | Financial institutions | |||
Disclosure of securities at amortised cost and held to maturity financial assets [Line Items] | |||
Securities at amortized cost | 1,835,947 | 4,843,534 | |
Securities at amortised cost and held to maturity investments category [Member] | Corporates [Member] | |||
Disclosure of securities at amortised cost and held to maturity financial assets [Line Items] | |||
Securities at amortized cost | 5,818,646 | 4,726,075 | |
Securities at amortised cost and held to maturity investments category [Member] | Bond denominated in foreign currencies | |||
Disclosure of securities at amortised cost and held to maturity financial assets [Line Items] | |||
Securities at amortized cost | 554,416 | 508,301 | |
Securities at amortised cost and held to maturity investments category [Member] | Allowance for credit losses | |||
Disclosure of securities at amortised cost and held to maturity financial assets [Line Items] | |||
Securities at amortized cost | ₩ (5,235) | ₩ (4,566) |
Securities at amortized cost _2
Securities at amortized cost - Changes in allowance for credit losses of securities at amortized cost (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Increase (decrease) in impairment loss securities at amortised cost [Abstract] | ||||
Net reversal (provision) of loss allowance for credit losses | ₩ (664) | ₩ 934 | ₩ 1,415 | |
Securities at amortized cost | ||||
Disclosure of reconciliation of changes in loss allowance for securities at amortised cost [Line Items] | ||||
Beginning balance | (4,566) | (5,511) | (6,924) | |
Increase (decrease) in impairment loss securities at amortised cost [Abstract] | ||||
Transfer to 12-month expected credit losses | 0 | 0 | 0 | |
Transfer to lifetime expected credit losses | 0 | 0 | 0 | |
Transfer to credit-impaired financial assets | 0 | 0 | 0 | |
Net reversal (provision) of loss allowance for credit losses | (664) | 934 | 1,415 | |
Others | [1] | (5) | 11 | (2) |
Ending balance | (5,235) | (4,566) | (5,511) | |
Securities at amortized cost | Stage 1 | ||||
Disclosure of reconciliation of changes in loss allowance for securities at amortised cost [Line Items] | ||||
Beginning balance | (4,566) | (5,511) | (6,924) | |
Increase (decrease) in impairment loss securities at amortised cost [Abstract] | ||||
Transfer to 12-month expected credit losses | 0 | 0 | 0 | |
Transfer to lifetime expected credit losses | 0 | 0 | 0 | |
Transfer to credit-impaired financial assets | 0 | 0 | 0 | |
Net reversal (provision) of loss allowance for credit losses | (664) | 934 | 1,415 | |
Others | [1] | (5) | 11 | (2) |
Ending balance | (5,235) | (4,566) | (5,511) | |
Securities at amortized cost | Stage 2 | ||||
Disclosure of reconciliation of changes in loss allowance for securities at amortised cost [Line Items] | ||||
Beginning balance | 0 | 0 | 0 | |
Increase (decrease) in impairment loss securities at amortised cost [Abstract] | ||||
Transfer to 12-month expected credit losses | 0 | 0 | 0 | |
Transfer to lifetime expected credit losses | 0 | 0 | 0 | |
Transfer to credit-impaired financial assets | 0 | 0 | 0 | |
Net reversal (provision) of loss allowance for credit losses | 0 | 0 | 0 | |
Others | [1] | 0 | 0 | 0 |
Ending balance | 0 | 0 | 0 | |
Securities at amortized cost | Stage 3 | ||||
Disclosure of reconciliation of changes in loss allowance for securities at amortised cost [Line Items] | ||||
Beginning balance | 0 | 0 | 0 | |
Increase (decrease) in impairment loss securities at amortised cost [Abstract] | ||||
Transfer to 12-month expected credit losses | 0 | 0 | 0 | |
Transfer to lifetime expected credit losses | 0 | 0 | 0 | |
Transfer to credit-impaired financial assets | 0 | 0 | 0 | |
Net reversal (provision) of loss allowance for credit losses | 0 | 0 | 0 | |
Others | [1] | 0 | 0 | 0 |
Ending balance | ₩ 0 | ₩ 0 | ₩ 0 | |
[1] | Others consist of foreign currencies translation, etc.. |
Securities at amortized cost _3
Securities at amortized cost - Changes in carrying amount of securities at amortized cost (Details) - Securities at amortized cost - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Explanation of changes in gross carrying amount for securities at amortised cost [Line Items] | ||||
Beginning balance | ₩ 17,025,405 | ₩ 20,326,050 | ₩ 22,939,484 | |
Increase (decrease) in impairment loss securities at amortised cost [Abstract] | ||||
Transfer to 12-month expected credit losses | 0 | 0 | 0 | |
Transfer to lifetime expected credit losses | 0 | 0 | 0 | |
Transfer to credit-impaired financial assets | 0 | 0 | 0 | |
Acquisition | 6,435,692 | 2,380,448 | 6,092,078 | |
Disposal / Recovery | (6,425,408) | (5,659,365) | (8,709,947) | |
Amortization based on effective interest method | 14,810 | (396) | (3,286) | |
Others | [1] | 41,010 | (21,332) | 7,721 |
Ending balance | 17,091,509 | 17,025,405 | 20,326,050 | |
Stage 1 | ||||
Explanation of changes in gross carrying amount for securities at amortised cost [Line Items] | ||||
Beginning balance | 17,025,405 | 20,326,050 | 22,939,484 | |
Increase (decrease) in impairment loss securities at amortised cost [Abstract] | ||||
Transfer to 12-month expected credit losses | 0 | 0 | 0 | |
Transfer to lifetime expected credit losses | 0 | 0 | 0 | |
Transfer to credit-impaired financial assets | 0 | 0 | 0 | |
Acquisition | 6,435,692 | 2,380,448 | 6,092,078 | |
Disposal / Recovery | (6,425,408) | (5,659,365) | (8,709,947) | |
Amortization based on effective interest method | 14,810 | (396) | (3,286) | |
Others | [1] | 41,010 | (21,332) | 7,721 |
Ending balance | 17,091,509 | 17,025,405 | 20,326,050 | |
Stage 2 | ||||
Explanation of changes in gross carrying amount for securities at amortised cost [Line Items] | ||||
Beginning balance | 0 | 0 | 0 | |
Increase (decrease) in impairment loss securities at amortised cost [Abstract] | ||||
Transfer to 12-month expected credit losses | 0 | 0 | 0 | |
Transfer to lifetime expected credit losses | 0 | 0 | 0 | |
Transfer to credit-impaired financial assets | 0 | 0 | 0 | |
Acquisition | 0 | 0 | 0 | |
Disposal / Recovery | 0 | 0 | 0 | |
Amortization based on effective interest method | 0 | 0 | 0 | |
Others | [1] | 0 | 0 | 0 |
Ending balance | 0 | 0 | 0 | |
Stage 3 | ||||
Explanation of changes in gross carrying amount for securities at amortised cost [Line Items] | ||||
Beginning balance | 0 | 0 | 0 | |
Increase (decrease) in impairment loss securities at amortised cost [Abstract] | ||||
Transfer to 12-month expected credit losses | 0 | 0 | 0 | |
Transfer to lifetime expected credit losses | 0 | 0 | 0 | |
Transfer to credit-impaired financial assets | 0 | 0 | 0 | |
Acquisition | 0 | 0 | 0 | |
Disposal / Recovery | 0 | 0 | 0 | |
Amortization based on effective interest method | 0 | 0 | 0 | |
Others | [1] | 0 | 0 | 0 |
Ending balance | ₩ 0 | ₩ 0 | ₩ 0 | |
[1] | Others consist of foreign currencies translation, etc.. |
Loans and other financial ass_3
Loans and other financial assets at amortized cost - Details of loans and other financial assets at amortized cost (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | ||
Disclosure of loans and other financial assets at amortised cost and loans and receivables [Abstract] | |||||
Due from banks | ₩ 15,914,139 | ₩ 9,863,160 | |||
Loans | 336,799,510 | 302,794,182 | |||
Other financial assets | 9,219,223 | 7,448,736 | |||
Total | ₩ 361,932,872 | [1] | $ 304,503,510 | ₩ 320,106,078 | [1] |
[1] | Cash and cash equivalents are not included. |
Loans and other financial ass_4
Loans and other financial assets at amortized cost - Details of due from banks (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Cash and cash equivalents [Line Items] | ||
Total | ₩ 15,914,139 | ₩ 9,863,160 |
Due from banks in local currency | ||
Cash and cash equivalents [Line Items] | ||
Total | 10,581,568 | 6,775,252 |
Due from banks in local currency | Allowance for credit losses | ||
Cash and cash equivalents [Line Items] | ||
Total | (2,452) | (1,576) |
Due from banks in local currency | Due from The Bank of Korea ("BOK") | Gross carrying amount [member] | ||
Cash and cash equivalents [Line Items] | ||
Total | 10,219,055 | 6,519,226 |
Due from banks in local currency | Due from the depository banks | Gross carrying amount [member] | ||
Cash and cash equivalents [Line Items] | ||
Total | 159,264 | 84,195 |
Due from banks in local currency | Due from non-depository institutions | Gross carrying amount [member] | ||
Cash and cash equivalents [Line Items] | ||
Total | 14,146 | 266 |
Due from banks in local currency | Due from the Korea Exchange | Gross carrying amount [member] | ||
Cash and cash equivalents [Line Items] | ||
Total | 54 | 227 |
Due from banks in local currency | Others | Gross carrying amount [member] | ||
Cash and cash equivalents [Line Items] | ||
Total | 191,501 | 172,914 |
Due from banks in foreign currencies | ||
Cash and cash equivalents [Line Items] | ||
Total | 5,332,571 | 3,087,908 |
Due from banks in foreign currencies | Allowance for credit losses | ||
Cash and cash equivalents [Line Items] | ||
Total | (3,582) | (2,790) |
Due from banks in foreign currencies | Due from banks on demand | Gross carrying amount [member] | ||
Cash and cash equivalents [Line Items] | ||
Total | 3,615,983 | 1,608,126 |
Due from banks in foreign currencies | Due from banks on time | Gross carrying amount [member] | ||
Cash and cash equivalents [Line Items] | ||
Total | 205,351 | 296,489 |
Due from banks in foreign currencies | Others | Gross carrying amount [member] | ||
Cash and cash equivalents [Line Items] | ||
Total | ₩ 1,514,819 | ₩ 1,186,083 |
Loans and other financial ass_5
Loans and other financial assets at amortized cost - Details of restricted due from banks (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Restricted due from financial institutions [Line Items] | ||
Total | ₩ 15,354,409 | ₩ 9,334,131 |
Due from banks in local currency | ||
Restricted due from financial institutions [Line Items] | ||
Total | 10,295,006 | 6,609,015 |
Due from banks in local currency | Due from The BOK | ||
Restricted due from financial institutions [Line Items] | ||
Total | ₩ 10,219,055 | ₩ 6,519,226 |
Reason of restriction | Reserve deposits under the BOK Act | Reserve deposits under the BOK Act |
Counterparty | The BOK | The BOK |
Due from banks in local currency | Due from KSFC | ||
Restricted due from financial institutions [Line Items] | ||
Total | ₩ 54 | ₩ 227 |
Reason of restriction | Futures trading margin | Futures trading margin |
Counterparty | KB Securities Co. Ltd. | KB Securities Co. Ltd. |
Due from banks in local currency | Others | ||
Restricted due from financial institutions [Line Items] | ||
Total | ₩ 75,897 | ₩ 89,562 |
Reason of restriction | Guarantees, mortgage of domestic exchange transactions and others | Guarantees, mortgage of domestic exchange transactions and others |
Counterparty | Korea Federation of Savings Banks and others | Korea Federation of Savings Banks and others |
Due from banks in foreign currencies | ||
Restricted due from financial institutions [Line Items] | ||
Total | ₩ 5,059,403 | ₩ 2,725,116 |
Due from banks in foreign currencies | Due from banks on demand | ||
Restricted due from financial institutions [Line Items] | ||
Total | ₩ 3,549,695 | ₩ 1,544,492 |
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 | Due from banks on time | ||
Restricted due from financial institutions [Line Items] | ||
Reason of restriction | Reserve deposits and others | Reserve deposits and others |
Counterparty | National Bank Cambodia | National Bank Cambodia |
Due from banks in foreign currencies | Due from banks on time | ||
Restricted due from financial institutions [Line Items] | ||
Total | ₩ 237 | ₩ 54 |
Due from banks in foreign currencies | Others | ||
Restricted due from financial institutions [Line Items] | ||
Total | ₩ 1,509,471 | ₩ 1,180,570 |
Reason of restriction | Overseas futures and options trade deposits and others | Overseas futures and options trade deposits and others |
Counterparty | Korea Investment & Securities and others | Korea Investment & Securities and others |
Loans and other financial ass_6
Loans and other financial assets at amortized cost - Changes in allowance for credit losses of due from banks (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Reconciliation of changes in loss allowance for due from financial institutions [Line Items] | ||||
Beginning balance | ₩ (4,366) | ₩ (4,860) | ₩ (5,387) | |
Increase (decrease) in impairment loss due from financial institutions [Abstract] | ||||
Transfer to 12-month expected credit losses | 0 | 0 | 0 | |
Transfer to lifetime expected credit losses | 0 | 0 | 0 | |
Transfer to credit impaired financial assets | 0 | 0 | 0 | |
Reversal of allowance for credit losses | (1,477) | 315 | 544 | |
Others | [1] | (191) | 179 | (17) |
Ending balance | (6,034) | (4,366) | (4,860) | |
Stage 1 | ||||
Reconciliation of changes in loss allowance for due from financial institutions [Line Items] | ||||
Beginning balance | (4,366) | (4,860) | (5,387) | |
Increase (decrease) in impairment loss due from financial institutions [Abstract] | ||||
Transfer to 12-month expected credit losses | 0 | 0 | 0 | |
Transfer to lifetime expected credit losses | 0 | 0 | 0 | |
Transfer to credit impaired financial assets | 0 | 0 | 0 | |
Reversal of allowance for credit losses | (1,477) | 315 | 544 | |
Others | [1] | (191) | 179 | (17) |
Ending balance | (6,034) | (4,366) | (4,860) | |
Stage 2 | ||||
Reconciliation of changes in loss allowance for due from financial institutions [Line Items] | ||||
Beginning balance | 0 | 0 | 0 | |
Increase (decrease) in impairment loss due from financial institutions [Abstract] | ||||
Transfer to 12-month expected credit losses | 0 | 0 | 0 | |
Transfer to lifetime expected credit losses | 0 | 0 | 0 | |
Transfer to credit impaired financial assets | 0 | 0 | 0 | |
Reversal of allowance for credit losses | 0 | 0 | 0 | |
Others | [1] | 0 | 0 | 0 |
Ending balance | 0 | 0 | 0 | |
Stage 3 | ||||
Reconciliation of changes in loss allowance for due from financial institutions [Line Items] | ||||
Beginning balance | 0 | 0 | 0 | |
Increase (decrease) in impairment loss due from financial institutions [Abstract] | ||||
Transfer to 12-month expected credit losses | 0 | 0 | 0 | |
Transfer to lifetime expected credit losses | 0 | 0 | 0 | |
Transfer to credit impaired financial assets | 0 | 0 | 0 | |
Reversal of allowance for credit losses | 0 | 0 | 0 | |
Others | [1] | 0 | 0 | 0 |
Ending balance | ₩ 0 | ₩ 0 | ₩ 0 | |
[1] | Others consist of foreign currencies translation, etc.. |
Loans and other financial ass_7
Loans and other financial assets at amortized cost - Changes in gross carrying amount of due from banks (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Reconciliation of changes in gross carrying amount of due from financial institutions [Line Items] | ||||
Beginning balance | ₩ 9,867,526 | ₩ 14,497,083 | ₩ 14,156,399 | |
Changes in gross carrying amount of due from financial institutions [Abstract] | ||||
Transfer to 12-month expected credit losses | 0 | 0 | 0 | |
Transfer to lifetime expected credit losses | 0 | 0 | 0 | |
Transfer to credit-impaired financial assets | 0 | 0 | 0 | |
Net increase | 5,977,989 | (4,759,053) | 313,991 | |
Business combination | 129,825 | 35,910 | ||
Others | [1] | 74,658 | (329) | (9,217) |
Ending balance | 15,920,173 | 9,867,526 | 14,497,083 | |
Stage 1 | ||||
Reconciliation of changes in gross carrying amount of due from financial institutions [Line Items] | ||||
Beginning balance | 9,867,526 | 14,497,083 | 14,156,399 | |
Changes in gross carrying amount of due from financial institutions [Abstract] | ||||
Transfer to 12-month expected credit losses | 0 | 0 | 0 | |
Transfer to lifetime expected credit losses | 0 | 0 | 0 | |
Transfer to credit-impaired financial assets | 0 | 0 | 0 | |
Net increase | 5,977,989 | (4,759,053) | 313,991 | |
Business combination | 129,825 | 35,910 | ||
Others | [1] | 74,658 | (329) | (9,217) |
Ending balance | 15,920,173 | 9,867,526 | 14,497,083 | |
Stage 2 | ||||
Reconciliation of changes in gross carrying amount of due from financial institutions [Line Items] | ||||
Beginning balance | 0 | 0 | 0 | |
Changes in gross carrying amount of due from financial institutions [Abstract] | ||||
Transfer to 12-month expected credit losses | 0 | 0 | 0 | |
Transfer to lifetime expected credit losses | 0 | 0 | 0 | |
Transfer to credit-impaired financial assets | 0 | 0 | 0 | |
Net increase | 0 | 0 | 0 | |
Business combination | 0 | 0 | ||
Others | [1] | 0 | 0 | 0 |
Ending balance | 0 | 0 | 0 | |
Stage 3 | ||||
Reconciliation of changes in gross carrying amount of due from financial institutions [Line Items] | ||||
Beginning balance | 0 | 0 | 0 | |
Changes in gross carrying amount of due from financial institutions [Abstract] | ||||
Transfer to 12-month expected credit losses | 0 | 0 | 0 | |
Transfer to lifetime expected credit losses | 0 | 0 | 0 | |
Transfer to credit-impaired financial assets | 0 | 0 | 0 | |
Net increase | 0 | 0 | 0 | |
Business combination | 0 | 0 | ||
Others | [1] | 0 | 0 | 0 |
Ending balance | ₩ 0 | ₩ 0 | ₩ 0 | |
[1] | Others consist of foreign currencies translation, etc.. |
Loans and other financial ass_8
Loans and other financial assets at amortized cost - Details of loans (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | ||
Disclosure of loans other than banks [Line Items] | |||
Discounted present value | ₩ (7,299) | ₩ (6,656) | |
Allowance for credit losses | (1,886,710) | (1,908,524) | |
Total | 336,799,510 | 302,794,182 | |
Loans in local currency | Gross carrying amount [member] | |||
Disclosure of loans other than banks [Line Items] | |||
Gross carrying amount | 273,283,542 | 249,264,947 | |
Loans in foreign currencies | Gross carrying amount [member] | |||
Disclosure of loans other than banks [Line Items] | |||
Gross carrying amount | [1] | 24,508,250 | 20,025,092 |
Domestic banker's usance | Gross carrying amount [member] | |||
Disclosure of loans other than banks [Line Items] | |||
Gross carrying amount | 3,403,021 | 2,240,830 | |
Credit card accounts | Gross carrying amount [member] | |||
Disclosure of loans other than banks [Line Items] | |||
Gross carrying amount | 9,757,115 | 8,542,619 | |
Bills bought in foreign currencies | Gross carrying amount [member] | |||
Disclosure of loans other than banks [Line Items] | |||
Gross carrying amount | 5,310,080 | 5,763,427 | |
Bills bought in local currency | Gross carrying amount [member] | |||
Disclosure of loans other than banks [Line Items] | |||
Gross carrying amount | 265,275 | 133,650 | |
Factoring receivables | Gross carrying amount [member] | |||
Disclosure of loans other than banks [Line Items] | |||
Gross carrying amount | 17,406 | 38,017 | |
Advances for customers on guarantees | Gross carrying amount [member] | |||
Disclosure of loans other than banks [Line Items] | |||
Gross carrying amount | 26,766 | 31,300 | |
Private placement bonds | Gross carrying amount [member] | |||
Disclosure of loans other than banks [Line Items] | |||
Gross carrying amount | 519,150 | 353,585 | |
Securitized loans | Gross carrying amount [member] | |||
Disclosure of loans other than banks [Line Items] | |||
Gross carrying amount | 2,874,480 | 2,561,914 | |
Call loans | Gross carrying amount [member] | |||
Disclosure of loans other than banks [Line Items] | |||
Gross carrying amount | 3,481,219 | 2,352,034 | |
Bonds purchased under resale agreements | Gross carrying amount [member] | |||
Disclosure of loans other than banks [Line Items] | |||
Gross carrying amount | 10,332,858 | 10,145,749 | |
Financial lease receivables | Gross carrying amount [member] | |||
Disclosure of loans other than banks [Line Items] | |||
Gross carrying amount | 1,173,751 | 586,216 | |
Installment financial bond | Gross carrying amount [member] | |||
Disclosure of loans other than banks [Line Items] | |||
Gross carrying amount | 2,882,396 | 1,925,493 | |
Others | Gross carrying amount [member] | |||
Disclosure of loans other than banks [Line Items] | |||
Gross carrying amount | 159 | 380 | |
Loan origination costs and fees | Gross carrying amount [member] | |||
Disclosure of loans other than banks [Line Items] | |||
Gross carrying amount | ₩ 858,051 | ₩ 744,109 | |
[1] | It includes 50,088 million Won in collateral assets related to the sale of bonds under repurchase agreements at the end of the previous year. |
Loans and other financial ass_9
Loans and other financial assets at amortized cost - Details of loans (Parenthetical) (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of loans other than banks [Line Items] | ||
Assets that entity continues to recognise | ₩ 414,069 | ₩ 639,721 |
Loans in foreign currencies | Gross carrying amount [member] | ||
Disclosure of loans other than banks [Line Items] | ||
Assets that entity continues to recognise | ₩ 50,088 |
Loans and other financial as_10
Loans and other financial assets at amortized cost - Changes in allowances for credit losses on loans (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Stage 1 | |||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | |||
Beginning balance | ₩ (511,699) | ₩ (484,132) | ₩ (527,607) |
Changes in allowance account for credit losses of financial assets [abstract] | |||
Transfer to 12-month expected credit losses | (130,977) | (64,934) | (88,679) |
Transfer to lifetime expected credit losses | 30,804 | 37,737 | 28,268 |
Transfer to credit-impaired financial assets | 4,670 | 7,783 | 110,558 |
Net reversal(provision) of allowance for credit losses | 58,000 | 24,995 | 9,479 |
Recovery | 0 | 0 | 0 |
Charge-off | 0 | 0 | 0 |
Disposal | 0 | 0 | 0 |
Interest income from impaired loans | 0 | 0 | 0 |
Business combination | (45,030) | (9) | |
Others | (18,898) | 11,882 | (16,142) |
Ending balance | (568,100) | (511,699) | (484,132) |
Stage 2 | |||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | |||
Beginning balance | (696,851) | (447,213) | (476,118) |
Changes in allowance account for credit losses of financial assets [abstract] | |||
Transfer to 12-month expected credit losses | 96,219 | 59,872 | 78,776 |
Transfer to lifetime expected credit losses | (55,323) | (68,726) | (42,122) |
Transfer to credit-impaired financial assets | 29,584 | 16,399 | 122,280 |
Net reversal(provision) of allowance for credit losses | (169,108) | (235,164) | (127,782) |
Recovery | 0 | 0 | 0 |
Charge-off | 0 | 0 | 0 |
Disposal | 0 | 13 | 1 |
Interest income from impaired loans | 0 | 0 | 0 |
Business combination | (33,293) | (2,008) | |
Others | 5,646 | 11,261 | (240) |
Ending balance | (789,833) | (696,851) | (447,213) |
Stage 3 | |||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | |||
Beginning balance | (699,974) | (643,675) | (774,351) |
Changes in allowance account for credit losses of financial assets [abstract] | |||
Transfer to 12-month expected credit losses | 34,758 | 5,062 | 9,903 |
Transfer to lifetime expected credit losses | 24,519 | 30,989 | 13,854 |
Transfer to credit-impaired financial assets | (34,254) | (24,182) | (232,838) |
Net reversal(provision) of allowance for credit losses | (444,083) | (577,060) | (261,939) |
Recovery | (195,786) | (203,482) | (188,638) |
Charge-off | 627,871 | 671,237 | 721,339 |
Disposal | 104,544 | 76,399 | 44,858 |
Interest income from impaired loans | 26,415 | 25,735 | 27,534 |
Business combination | (96,404) | (3,150) | |
Others | 27,213 | 35,407 | (247) |
Ending balance | (528,777) | (699,974) | (643,675) |
Consumers | Stage 1 | |||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | |||
Beginning balance | (121,527) | (85,148) | (114,509) |
Changes in allowance account for credit losses of financial assets [abstract] | |||
Transfer to 12-month expected credit losses | (23,328) | (20,839) | (14,430) |
Transfer to lifetime expected credit losses | 9,201 | 9,137 | 14,022 |
Transfer to credit-impaired financial assets | 2,752 | 3,549 | 8,603 |
Net reversal(provision) of allowance for credit losses | (4,456) | 5,142 | 21,802 |
Recovery | 0 | 0 | 0 |
Charge-off | 0 | 0 | 0 |
Disposal | 0 | 0 | 0 |
Interest income from impaired loans | 0 | 0 | 0 |
Business combination | (31,327) | 0 | |
Others | 838 | (2,041) | (636) |
Ending balance | (136,520) | (121,527) | (85,148) |
Consumers | Stage 2 | |||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | |||
Beginning balance | (84,463) | (77,962) | (48,368) |
Changes in allowance account for credit losses of financial assets [abstract] | |||
Transfer to 12-month expected credit losses | 19,736 | 20,050 | 13,661 |
Transfer to lifetime expected credit losses | (11,466) | (10,800) | (15,332) |
Transfer to credit-impaired financial assets | 9,918 | 4,913 | 10,312 |
Net reversal(provision) of allowance for credit losses | (32,764) | (10,042) | (38,203) |
Recovery | 0 | 0 | 0 |
Charge-off | 0 | 0 | 0 |
Disposal | 0 | 0 | 0 |
Interest income from impaired loans | 0 | 0 | 0 |
Business combination | (15,129) | 0 | |
Others | 1,435 | 4,507 | (32) |
Ending balance | (97,604) | (84,463) | (77,962) |
Consumers | Stage 3 | |||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | |||
Beginning balance | (205,693) | (125,588) | (129,906) |
Changes in allowance account for credit losses of financial assets [abstract] | |||
Transfer to 12-month expected credit losses | 3,592 | 789 | 769 |
Transfer to lifetime expected credit losses | 2,265 | 1,663 | 1,310 |
Transfer to credit-impaired financial assets | (12,670) | (8,462) | (18,915) |
Net reversal(provision) of allowance for credit losses | (130,424) | (125,923) | (146,204) |
Recovery | (75,058) | (71,277) | (61,914) |
Charge-off | 174,012 | 181,713 | 217,382 |
Disposal | 14,890 | 5,640 | 2,763 |
Interest income from impaired loans | 13,743 | 10,790 | 9,647 |
Business combination | (72,040) | 0 | |
Others | 8,726 | (2,998) | (520) |
Ending balance | (206,617) | (205,693) | (125,588) |
Corporates | Stage 1 | |||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | |||
Beginning balance | (327,460) | (324,258) | (348,311) |
Changes in allowance account for credit losses of financial assets [abstract] | |||
Transfer to 12-month expected credit losses | (80,803) | (29,117) | (58,537) |
Transfer to lifetime expected credit losses | 14,106 | 19,259 | 8,215 |
Transfer to credit-impaired financial assets | 1,562 | 3,607 | 3,308 |
Net reversal(provision) of allowance for credit losses | 49,562 | 2,831 | 86,565 |
Recovery | 0 | 0 | 0 |
Charge-off | 0 | 0 | 0 |
Disposal | 0 | 0 | 0 |
Interest income from impaired loans | 0 | 0 | 0 |
Business combination | (13,703) | (9) | |
Others | (19,733) | 13,921 | (15,489) |
Ending balance | (362,766) | (327,460) | (324,258) |
Corporates | Stage 2 | |||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | |||
Beginning balance | (521,907) | (297,718) | (349,619) |
Changes in allowance account for credit losses of financial assets [abstract] | |||
Transfer to 12-month expected credit losses | 49,902 | 25,067 | 49,884 |
Transfer to lifetime expected credit losses | (35,706) | (48,184) | (20,473) |
Transfer to credit-impaired financial assets | 18,741 | 10,349 | 17,852 |
Net reversal(provision) of allowance for credit losses | (91,981) | (200,024) | 6,855 |
Recovery | 0 | 0 | 0 |
Charge-off | 0 | 0 | 0 |
Disposal | 0 | 13 | 1 |
Interest income from impaired loans | 0 | 0 | 0 |
Business combination | (18,164) | (2,008) | |
Others | 4,211 | 6,754 | (210) |
Ending balance | (576,740) | (521,907) | (297,718) |
Corporates | Stage 3 | |||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | |||
Beginning balance | (388,744) | (390,045) | (527,673) |
Changes in allowance account for credit losses of financial assets [abstract] | |||
Transfer to 12-month expected credit losses | 30,901 | 4,050 | 8,653 |
Transfer to lifetime expected credit losses | 21,600 | 28,925 | 12,258 |
Transfer to credit-impaired financial assets | (20,303) | (13,956) | (21,160) |
Net reversal(provision) of allowance for credit losses | (168,323) | (271,265) | (75,392) |
Recovery | (55,108) | (66,179) | (66,359) |
Charge-off | 233,507 | 243,634 | 222,537 |
Disposal | 64,078 | 47,106 | 42,095 |
Interest income from impaired loans | 12,672 | 14,945 | 17,887 |
Business combination | (24,364) | (3,150) | |
Others | 18,487 | 38,405 | 259 |
Ending balance | (251,233) | (388,744) | (390,045) |
Credit card accounts | Stage 1 | |||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | |||
Beginning balance | (62,712) | (74,726) | (64,787) |
Changes in allowance account for credit losses of financial assets [abstract] | |||
Transfer to 12-month expected credit losses | (26,846) | (14,978) | (15,712) |
Transfer to lifetime expected credit losses | 7,497 | 9,341 | 6,031 |
Transfer to credit-impaired financial assets | 356 | 627 | 98,647 |
Net reversal(provision) of allowance for credit losses | 12,894 | 17,022 | (98,888) |
Recovery | 0 | 0 | 0 |
Charge-off | 0 | 0 | 0 |
Disposal | 0 | 0 | 0 |
Interest income from impaired loans | 0 | 0 | 0 |
Business combination | 0 | 0 | |
Others | (3) | 2 | (17) |
Ending balance | (68,814) | (62,712) | (74,726) |
Credit card accounts | Stage 2 | |||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | |||
Beginning balance | (90,481) | (71,533) | (78,131) |
Changes in allowance account for credit losses of financial assets [abstract] | |||
Transfer to 12-month expected credit losses | 26,581 | 14,755 | 15,231 |
Transfer to lifetime expected credit losses | (8,151) | (9,742) | (6,317) |
Transfer to credit-impaired financial assets | 925 | 1,137 | 94,116 |
Net reversal(provision) of allowance for credit losses | (44,363) | (25,098) | (96,434) |
Recovery | 0 | 0 | 0 |
Charge-off | 0 | 0 | 0 |
Disposal | 0 | 0 | 0 |
Interest income from impaired loans | 0 | 0 | 0 |
Business combination | 0 | 0 | |
Others | 0 | 0 | 2 |
Ending balance | (115,489) | (90,481) | (71,533) |
Credit card accounts | Stage 3 | |||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | |||
Beginning balance | (105,537) | (128,042) | (116,772) |
Changes in allowance account for credit losses of financial assets [abstract] | |||
Transfer to 12-month expected credit losses | 265 | 223 | 481 |
Transfer to lifetime expected credit losses | 654 | 401 | 286 |
Transfer to credit-impaired financial assets | (1,281) | (1,764) | (192,763) |
Net reversal(provision) of allowance for credit losses | (145,336) | (179,872) | (40,343) |
Recovery | (65,620) | (66,026) | (60,365) |
Charge-off | 220,352 | 245,890 | 281,420 |
Disposal | 25,576 | 23,653 | 0 |
Interest income from impaired loans | 0 | 0 | 0 |
Business combination | 0 | 0 | |
Others | 0 | 0 | 14 |
Ending balance | ₩ (70,927) | ₩ (105,537) | ₩ (128,042) |
Loans and other financial as_11
Loans and other financial assets at amortized cost - Changes in gross carrying amount of loans (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Stage 1 | |||
Reconciliation of changes in gross carrying amount of loans [Line Items] | |||
Beginning balance | ₩ 282,843,945 | ₩ 252,975,729 | ₩ 248,934,813 |
Changes in gross carrying amount of loans [Abstract] | |||
Transfer to 12-month expected credit losses | 6,346,889 | 5,982,269 | 4,446,406 |
Transfer to lifetime expected credit losses | (10,245,852) | (9,803,421) | (10,851,785) |
Transfer to credit-impaired financial assets | (370,369) | (480,530) | (529,052) |
Charge off | 0 | 0 | 0 |
Disposal | 0 | 0 | 0 |
Net increase (decrease) | 35,599,630 | 28,355,237 | 10,972,686 |
Business combination | 5,814,661 | 2,661 | |
Ending balance | 314,174,243 | 282,843,945 | 252,975,729 |
Stage 2 | |||
Reconciliation of changes in gross carrying amount of loans [Line Items] | |||
Beginning balance | 20,423,672 | 18,245,237 | 12,042,039 |
Changes in gross carrying amount of loans [Abstract] | |||
Transfer to 12-month expected credit losses | (6,291,280) | (5,956,300) | (4,423,097) |
Transfer to lifetime expected credit losses | 10,312,654 | 9,865,879 | 10,905,931 |
Transfer to credit-impaired financial assets | (221,985) | (234,303) | (351,743) |
Charge off | 0 | 0 | 0 |
Disposal | 0 | (398) | (125) |
Net increase (decrease) | (868,860) | (1,980,455) | 32,071 |
Business combination | 484,012 | 40,161 | |
Ending balance | 23,354,201 | 20,423,672 | 18,245,237 |
Stage 3 | |||
Reconciliation of changes in gross carrying amount of loans [Line Items] | |||
Beginning balance | 1,435,089 | 1,386,298 | 1,621,141 |
Changes in gross carrying amount of loans [Abstract] | |||
Transfer to 12-month expected credit losses | (55,609) | (25,969) | (23,309) |
Transfer to lifetime expected credit losses | (66,802) | (62,458) | (54,146) |
Transfer to credit-impaired financial assets | 592,354 | 714,833 | 880,795 |
Charge off | (627,871) | (671,237) | (721,339) |
Disposal | (292,886) | (262,774) | (229,242) |
Net increase (decrease) | 173,501 | 194,382 | (108,602) |
Business combination | 162,014 | 21,000 | |
Ending balance | 1,157,776 | 1,435,089 | 1,386,298 |
Consumers | Stage 1 | |||
Reconciliation of changes in gross carrying amount of loans [Line Items] | |||
Beginning balance | 125,990,038 | 111,253,283 | 110,619,242 |
Changes in gross carrying amount of loans [Abstract] | |||
Transfer to 12-month expected credit losses | 4,377,247 | 4,564,471 | 2,626,998 |
Transfer to lifetime expected credit losses | (6,104,417) | (5,365,577) | (8,238,499) |
Transfer to credit-impaired financial assets | (108,717) | (96,197) | (152,128) |
Charge off | 0 | 0 | 0 |
Disposal | 0 | 0 | 0 |
Net increase (decrease) | 10,985,534 | 13,326,560 | 6,397,570 |
Business combination | 2,307,498 | 100 | |
Ending balance | 135,139,685 | 125,990,038 | 111,253,283 |
Consumers | Stage 2 | |||
Reconciliation of changes in gross carrying amount of loans [Line Items] | |||
Beginning balance | 12,016,711 | 12,448,807 | 6,028,009 |
Changes in gross carrying amount of loans [Abstract] | |||
Transfer to 12-month expected credit losses | (4,357,347) | (4,552,400) | (2,614,767) |
Transfer to lifetime expected credit losses | 6,127,477 | 5,388,064 | 8,256,600 |
Transfer to credit-impaired financial assets | (79,746) | (103,016) | (104,129) |
Charge off | 0 | 0 | 0 |
Disposal | 0 | 0 | (55) |
Net increase (decrease) | (206,312) | (1,289,910) | 883,149 |
Business combination | 125,166 | 0 | |
Ending balance | 13,500,783 | 12,016,711 | 12,448,807 |
Consumers | Stage 3 | |||
Reconciliation of changes in gross carrying amount of loans [Line Items] | |||
Beginning balance | 537,106 | 417,674 | 391,494 |
Changes in gross carrying amount of loans [Abstract] | |||
Transfer to 12-month expected credit losses | (19,900) | (12,071) | (12,231) |
Transfer to lifetime expected credit losses | (23,060) | (22,487) | (18,101) |
Transfer to credit-impaired financial assets | 188,463 | 199,213 | 256,257 |
Charge off | (174,012) | (181,713) | (217,382) |
Disposal | (48,795) | (55,349) | (67,924) |
Net increase (decrease) | 40,167 | 54,503 | 85,561 |
Business combination | 137,336 | 0 | |
Ending balance | 499,969 | 537,106 | 417,674 |
Corporates | Stage 1 | |||
Reconciliation of changes in gross carrying amount of loans [Line Items] | |||
Beginning balance | 149,574,932 | 134,443,979 | 131,453,727 |
Changes in gross carrying amount of loans [Abstract] | |||
Transfer to 12-month expected credit losses | 1,610,541 | 1,160,399 | 1,560,734 |
Transfer to lifetime expected credit losses | (3,627,800) | (3,983,614) | (2,306,186) |
Transfer to credit-impaired financial assets | (244,236) | (357,386) | (252,249) |
Charge off | 0 | 0 | 0 |
Disposal | 0 | 0 | 0 |
Net increase (decrease) | 23,481,818 | 14,804,391 | 3,985,392 |
Business combination | 3,507,163 | 2,561 | |
Ending balance | 170,795,255 | 149,574,932 | 134,443,979 |
Corporates | Stage 2 | |||
Reconciliation of changes in gross carrying amount of loans [Line Items] | |||
Beginning balance | 7,328,741 | 4,910,598 | 5,031,258 |
Changes in gross carrying amount of loans [Abstract] | |||
Transfer to 12-month expected credit losses | (1,575,157) | (1,146,756) | (1,550,164) |
Transfer to lifetime expected credit losses | 3,670,808 | 4,023,106 | 2,341,881 |
Transfer to credit-impaired financial assets | (132,986) | (120,491) | (142,902) |
Charge off | 0 | 0 | 0 |
Disposal | 0 | (398) | (70) |
Net increase (decrease) | (833,127) | (696,164) | (809,566) |
Business combination | 358,846 | 40,161 | |
Ending balance | 8,458,279 | 7,328,741 | 4,910,598 |
Corporates | Stage 3 | |||
Reconciliation of changes in gross carrying amount of loans [Line Items] | |||
Beginning balance | 717,909 | 740,257 | 1,020,658 |
Changes in gross carrying amount of loans [Abstract] | |||
Transfer to 12-month expected credit losses | (35,384) | (13,643) | (10,570) |
Transfer to lifetime expected credit losses | (43,008) | (39,492) | (35,695) |
Transfer to credit-impaired financial assets | 377,222 | 477,877 | 395,151 |
Charge off | (233,507) | (243,634) | (222,537) |
Disposal | (187,571) | (163,644) | (161,318) |
Net increase (decrease) | (53,929) | (64,490) | (266,432) |
Business combination | 24,678 | 21,000 | |
Ending balance | 541,732 | 717,909 | 740,257 |
Credit card accounts | Stage 1 | |||
Reconciliation of changes in gross carrying amount of loans [Line Items] | |||
Beginning balance | 7,278,975 | 7,278,467 | 6,861,844 |
Changes in gross carrying amount of loans [Abstract] | |||
Transfer to 12-month expected credit losses | 359,101 | 257,399 | 258,674 |
Transfer to lifetime expected credit losses | (513,635) | (454,230) | (307,100) |
Transfer to credit-impaired financial assets | (17,416) | (26,947) | (124,675) |
Charge off | 0 | 0 | 0 |
Disposal | 0 | 0 | 0 |
Net increase (decrease) | 1,132,278 | 224,286 | 589,724 |
Business combination | 0 | 0 | |
Ending balance | 8,239,303 | 7,278,975 | 7,278,467 |
Credit card accounts | Stage 2 | |||
Reconciliation of changes in gross carrying amount of loans [Line Items] | |||
Beginning balance | 1,078,220 | 885,832 | 982,772 |
Changes in gross carrying amount of loans [Abstract] | |||
Transfer to 12-month expected credit losses | (358,776) | (257,144) | (258,166) |
Transfer to lifetime expected credit losses | 514,369 | 454,709 | 307,450 |
Transfer to credit-impaired financial assets | (9,253) | (10,796) | (104,712) |
Charge off | 0 | 0 | 0 |
Disposal | 0 | 0 | 0 |
Net increase (decrease) | 170,579 | 5,619 | (41,512) |
Business combination | 0 | 0 | |
Ending balance | 1,395,139 | 1,078,220 | 885,832 |
Credit card accounts | Stage 3 | |||
Reconciliation of changes in gross carrying amount of loans [Line Items] | |||
Beginning balance | 180,074 | 228,367 | 208,989 |
Changes in gross carrying amount of loans [Abstract] | |||
Transfer to 12-month expected credit losses | (325) | (255) | (508) |
Transfer to lifetime expected credit losses | (734) | (479) | (350) |
Transfer to credit-impaired financial assets | 26,669 | 37,743 | 229,387 |
Charge off | (220,352) | (245,890) | (281,420) |
Disposal | (56,520) | (43,781) | 0 |
Net increase (decrease) | 187,263 | 204,369 | 72,269 |
Business combination | 0 | 0 | |
Ending balance | ₩ 116,075 | ₩ 180,074 | ₩ 228,367 |
Loans and other financial as_12
Loans and other financial assets at amortized cost - Details of other financial assests (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of other financial assets [Line Items] | ||
Other financial assets | ₩ 9,219,223 | ₩ 7,448,736 |
Allowance for credit losses | ||
Disclosure of other financial assets [Line Items] | ||
Other financial assets | (66,781) | (83,295) |
Cash Management Account asset (CMA asset) | Gross carrying amount [member] | ||
Disclosure of other financial assets [Line Items] | ||
Other financial assets | 140,000 | 210,000 |
Receivables | Gross carrying amount [member] | ||
Disclosure of other financial assets [Line Items] | ||
Other financial assets | 6,852,139 | 3,809,929 |
Accrued Income | Gross carrying amount [member] | ||
Disclosure of other financial assets [Line Items] | ||
Other financial assets | 1,049,857 | 864,107 |
Telex and telephone subscription rights and refundable deposits | Gross carrying amount [member] | ||
Disclosure of other financial assets [Line Items] | ||
Other financial assets | 870,707 | 936,878 |
Domestic exchange settlement debit | Gross carrying amount [member] | ||
Disclosure of other financial assets [Line Items] | ||
Other financial assets | 82,555 | 1,518,775 |
Other assets | Gross carrying amount [member] | ||
Disclosure of other financial assets [Line Items] | ||
Other financial assets | ₩ 290,746 | ₩ 192,342 |
Loans and other financial as_13
Loans and other financial assets at amortized cost - Changes in allowances for credit losses on other financial assets (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Reconciliation of changes in allowance account for credit losses of other receivables [Line Items] | |||
Beginning balance | ₩ (83,295) | ₩ (77,139) | ₩ (67,941) |
Changes in allowance account for credit losses of other receivables [Abstract] | |||
Transfer to 12-month expected credit losses | 0 | 0 | 0 |
Transfer to lifetime expected credit losses | 0 | 0 | 0 |
Transfer to credit-impaired financial assets | 0 | 0 | 0 |
Reversal (provision) of allowance for credit losses | 4,711 | (5,336) | (6,061) |
Charge off | 9,965 | 2,151 | 2,506 |
Disposal | 1,400 | 1,557 | 1,685 |
Business combination | (4,827) | (7,669) | |
Others | 438 | 299 | 341 |
Ending balance | (66,781) | (83,295) | (77,139) |
Stage 1 | |||
Reconciliation of changes in allowance account for credit losses of other receivables [Line Items] | |||
Beginning balance | (3,666) | (3,196) | (3,469) |
Changes in allowance account for credit losses of other receivables [Abstract] | |||
Transfer to 12-month expected credit losses | (228) | (142) | (207) |
Transfer to lifetime expected credit losses | 147 | 125 | 116 |
Transfer to credit-impaired financial assets | 167 | 23 | 19 |
Reversal (provision) of allowance for credit losses | 511 | (667) | 802 |
Charge off | 0 | 0 | 0 |
Disposal | 0 | 0 | 0 |
Business combination | (624) | (401) | |
Others | (606) | 815 | (56) |
Ending balance | (3,675) | (3,666) | (3,196) |
Stage 2 | |||
Reconciliation of changes in allowance account for credit losses of other receivables [Line Items] | |||
Beginning balance | (5,450) | (1,666) | (1,971) |
Changes in allowance account for credit losses of other receivables [Abstract] | |||
Transfer to 12-month expected credit losses | 217 | 129 | 198 |
Transfer to lifetime expected credit losses | (174) | (155) | (43) |
Transfer to credit-impaired financial assets | 288 | 64 | 159 |
Reversal (provision) of allowance for credit losses | (464) | (1,589) | (9) |
Charge off | 0 | 0 | 0 |
Disposal | 0 | 0 | 0 |
Business combination | (2,235) | 0 | |
Others | 3 | 2 | 0 |
Ending balance | (5,580) | (5,450) | (1,666) |
Stage 3 | |||
Reconciliation of changes in allowance account for credit losses of other receivables [Line Items] | |||
Beginning balance | (74,179) | (72,277) | (62,501) |
Changes in allowance account for credit losses of other receivables [Abstract] | |||
Transfer to 12-month expected credit losses | 11 | 13 | 9 |
Transfer to lifetime expected credit losses | 27 | 30 | (73) |
Transfer to credit-impaired financial assets | (455) | (87) | (178) |
Reversal (provision) of allowance for credit losses | 4,664 | (3,080) | (6,854) |
Charge off | 9,965 | 2,151 | 2,506 |
Disposal | 1,400 | 1,557 | 1,685 |
Business combination | (1,968) | (7,268) | |
Others | 1,041 | (518) | 397 |
Ending balance | ₩ (57,526) | ₩ (74,179) | ₩ (72,277) |
Loans and other financial as_14
Loans and other financial assets at amortized cost - Changes in gross carrying amount of other financial assets (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Reconciliation of changes in gross carrying amount of other receivables [Line Items] | |||
Beginning balance | ₩ 7,532,031 | ₩ 8,270,365 | ₩ 7,554,590 |
Changes in gross carrying amount of other receivables [Abstract] | |||
Transfer to 12-month expected credit losses | 0 | 0 | 0 |
Transfer to lifetime expected credit losses | 0 | 0 | 0 |
Transfer to credit-impaired financial assets | 0 | 0 | 0 |
Charge off | (9,965) | (2,151) | (2,506) |
Disposal | (1,716) | (1,847) | (2,212) |
Net increase (decrease) | 1,765,654 | (813,047) | 703,246 |
Business combination | 78,711 | 17,247 | |
Ending balance | 9,286,004 | 7,532,031 | 8,270,365 |
Stage 1 | |||
Reconciliation of changes in gross carrying amount of other receivables [Line Items] | |||
Beginning balance | 7,267,426 | 8,059,844 | 7,454,390 |
Changes in gross carrying amount of other receivables [Abstract] | |||
Transfer to 12-month expected credit losses | 8,909 | 8,760 | 8,036 |
Transfer to lifetime expected credit losses | (27,369) | (15,305) | (17,678) |
Transfer to credit-impaired financial assets | (1,877) | (1,900) | (952) |
Charge off | 0 | 0 | 0 |
Disposal | 0 | 0 | 0 |
Net increase (decrease) | 1,757,450 | (856,008) | 606,457 |
Business combination | 72,035 | 9,591 | |
Ending balance | 9,004,539 | 7,267,426 | 8,059,844 |
Stage 2 | |||
Reconciliation of changes in gross carrying amount of other receivables [Line Items] | |||
Beginning balance | 76,418 | 92,647 | 28,193 |
Changes in gross carrying amount of other receivables [Abstract] | |||
Transfer to 12-month expected credit losses | (8,894) | (8,737) | (8,019) |
Transfer to lifetime expected credit losses | 27,399 | 15,334 | 17,740 |
Transfer to credit-impaired financial assets | (1,638) | (701) | (918) |
Charge off | 0 | 0 | 0 |
Disposal | 0 | 0 | 0 |
Net increase (decrease) | 13,312 | (26,539) | 55,651 |
Business combination | 4,414 | 0 | |
Ending balance | 106,597 | 76,418 | 92,647 |
Stage 3 | |||
Reconciliation of changes in gross carrying amount of other receivables [Line Items] | |||
Beginning balance | 188,187 | 117,874 | 72,007 |
Changes in gross carrying amount of other receivables [Abstract] | |||
Transfer to 12-month expected credit losses | (15) | (23) | (17) |
Transfer to lifetime expected credit losses | (30) | (29) | (62) |
Transfer to credit-impaired financial assets | 3,515 | 2,601 | 1,870 |
Charge off | (9,965) | (2,151) | (2,506) |
Disposal | (1,716) | (1,847) | (2,212) |
Net increase (decrease) | (5,108) | 69,500 | 41,138 |
Business combination | 2,262 | 7,656 | |
Ending balance | ₩ 174,868 | ₩ 188,187 | ₩ 117,874 |
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) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021KRW (₩) | Dec. 31, 2020KRW (₩) | Dec. 31, 2021USD ($) | ||
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 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. | 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 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. | ||
Financial assets at fair value through profit or loss | ₩ 13,497,234 | ₩ 14,762,941 | $ 11,355,573 | |
Financial assets at FVTOCI | 39,119,789 | 30,028,929 | 32,912,493 | |
Derivative financial assets | 106,764 | 174,820 | 89,823 | |
Total | 52,723,787 | 44,966,690 | ||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Financial liabilities at fair value through profit or loss measured at fair value | 4,873,458 | 6,794,192 | ||
Financial liabilities designated at FVTPL | 0 | 19,630 | ||
Derivative liabilities (Designated for hedging) | 27,584 | 64,769 | $ 23,207 | |
Total | ₩ 4,901,042 | ₩ 6,878,591 | ||
Description of valuation processes used in fair value measurement assets | Financial assets and liabilities at FVTPL, financial liabilities at FVTPL designated as upon initial recognition, financial assets at FVTOCI, and derivative assets and liabilities 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.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. | Financial assets and liabilities at FVTPL, financial liabilities at FVTPL designated as upon initial recognition, financial assets at FVTOCI, and derivative assets and liabilities 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.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. | ||
Description of valuation processes used in fair value measurement liabilities | Financial assets and liabilities at FVTPL, financial liabilities at FVTPL designated as upon initial recognition, financial assets at FVTOCI, and derivative assets and liabilities 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.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. | Financial assets and liabilities at FVTPL, financial liabilities at FVTPL designated as upon initial recognition, financial assets at FVTOCI, and derivative assets and liabilities 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.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. | ||
Description of methods used to develop and substantiate unobservable inputs used in fair value measurement, assets | 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. | 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. | ||
Description of methods used to develop and substantiate unobservable inputs used in fair value measurement, liabilities | 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. | 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. | ||
Financial assets | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Total | [1] | ₩ 6,983,529 | ₩ 4,246,436 | |
Financial assets | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Total | [1] | 42,121,730 | 36,609,141 | |
Financial assets | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Total | 3,618,528 | 4,111,113 | ||
Financial assets at FVTPL | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | [1] | ₩ 993,717 | ₩ 644,126 | |
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | ||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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 | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | [1] | ₩ 9,466,444 | ₩ 10,578,417 | |
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | ||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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. | ||
Input variables | Discount rate, values of underlying assets such as foreign exchange rate and stock prices, risk-free market rate, forward rate, etc. | Discount rate, values of underlying assets such as foreign exchange rate and stock prices, risk-free market rate, forward rate, etc. | ||
Financial assets at FVTPL | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | ₩ 3,037,073 | ₩ 3,540,398 | ||
Deposits | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | 65,072 | 48,796 | ||
Deposits | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | [1] | ₩ 65,072 | ₩ 48,796 | |
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | ||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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. | ||
Deposits | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | [1] | ₩ 0 | ₩ 0 | |
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | ||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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. | ||
Deposits | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | ₩ 0 | ₩ 0 | ||
Debt securities | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | 2,743,239 | 2,887,097 | ||
Debt securities | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | [1] | ₩ 817,584 | ₩ 516,597 | |
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | ||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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. | ||
Debt securities | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | [1] | ₩ 1,923,538 | ₩ 2,365,882 | |
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | ||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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. | ||
Fair value measurement methods | Fair value is measured by discounting the future cash flows of debt securities applying the risk-free market rate with credit spread. | Fair value is measured by discounting the future cash flows of debt securities applying the risk-free market rate with credit spread. | ||
Input variables | Risk-free market rate and credit spread | Risk-free market rate and credit spread | ||
Debt securities | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | ₩ 2,117 | ₩ 4,618 | ||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Fair value measurement methods | The Group is measuring fair value with LSMC and the Hull-White model. | The Group is measuring fair value with LSMC and the Hull-White model. | ||
Input variables | Stock volatility, interest rate volatility and discount rate | Stock volatility, interest rate volatility and discount rate | ||
Equity securities | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | ₩ 329,864 | ₩ 485,793 | ||
Equity securities | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | [1] | ₩ 25,879 | ₩ 35,422 | |
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | ||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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. | ||
Equity securities | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | [1] | ₩ 0 | ₩ 0 | |
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | ||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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. | ||
Equity securities | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | ₩ 303,985 | ₩ 450,371 | ||
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, Net Asset Value Method, LSMC, and Binomial Tree, more than one method is used given the characteristic of the subject of fair value measurement. | 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, Net Asset Value Method, LSMC, and Binomial Tree, 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, corporate Beta, stock prices, volatility of underlying asset, net asset of the investment association and discount rate | Risk-free market rate, market risk premium, corporate Beta, stock prices, volatility of underlying asset, net asset of the investment association and discount rate | ||
Capital contributions | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | ₩ 1,287,723 | ₩ 865,685 | ||
Capital contributions | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | [1] | ₩ 0 | ₩ 0 | |
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | ||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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. | ||
Capital contributions | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | [1] | ₩ 0 | ₩ 0 | |
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | ||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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. | ||
Capital contributions | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | ₩ 1,287,723 | ₩ 865,685 | ||
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, Net Asset Value Method, LSMC, and Binomial Tree, more than one method is used given the characteristic of the subject of fair value measurement. | 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, Net Asset Value Method, LSMC, and Binomial Tree, 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, corporate Beta, stock prices, volatility of underlying asset, net asset of the investment association and discount rate | Risk-free market rate, market risk premium, corporate Beta, stock prices, volatility of underlying asset, net asset of the investment association and discount rate | ||
Beneficiary certificates | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | ₩ 3,504,547 | ₩ 2,812,558 | ||
Beneficiary certificates | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | [1] | ₩ 74,271 | ₩ 24,895 | |
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | ||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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. | ||
Beneficiary certificates | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | [1] | ₩ 2,326,202 | ₩ 869,852 | |
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | ||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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. | ||
Fair value measurement methods | The beneficiary certificates classified as Level 2 are MMF and are measured at the standard price. | The beneficiary certificates classified as Level 2 are MMF and are measured at the standard price. | ||
Input variables | Standard price | Standard price | ||
Beneficiary certificates | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | ₩ 1,104,074 | ₩ 1,917,811 | ||
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, Net Asset Value Method, LSMC, and Binomial Tree, more than one method is used given the characteristic of the subject of fair value measurement. | 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, Net Asset Value Method, LSMC, and Binomial Tree, 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, corporate Beta, stock prices, volatility of underlying asset, net asset of the investment association and discount rate | Risk-free market rate, market risk premium, corporate Beta, stock prices, volatility of underlying asset, net asset of the investment association and discount rate | ||
Loans | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | ₩ 667,467 | ₩ 676,291 | ||
Loans | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | [1] | ₩ 0 | ₩ 0 | |
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | ||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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. | ||
Loans | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | [1] | ₩ 453,832 | ₩ 467,229 | |
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | ||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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. | ||
Fair value measurement methods | The future cash flows of debt instruments are measured at a discount by applying the market interest rate applied to entities with similar creditworthiness to the debtor. | The future cash flows of debt instruments are measured at a discount by applying the market interest rate applied to entities with similar creditworthiness to the debtor. | ||
Input variables | Risk-free market rate and credit spread | Risk-free market rate and credit spread | ||
Loans | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | ₩ 213,635 | ₩ 209,062 | ||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Fair value measurement methods | Fair value is calculated by using the Discounted Cash Flow Model, Binomial Tree, which is a valuation technique commonly used in the market taking into account the price and variability of the underlying asset, and LSMC. | Fair value is calculated by using the Discounted Cash Flow Model, Binomial Tree, which is a valuation technique commonly used in the market taking into account the price and variability of the underlying asset, and LSMC. | ||
Input variables | Values of underlying assets, volatility, credit spread, discount rate and terminal growth rate | Values of underlying assets, volatility, credit spread, discount rate and terminal growth rate | ||
bond with options | Level 1 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | ||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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. | ||
bond with options | Level 2 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | ||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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. | ||
bond with options | Level 3 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Fair value measurement methods | Fair value is calculated by using the Discounted Cash Flow Model, Binomial Tree, which is a valuation technique commonly used in the market taking into account the price and variability of the underlying asset, and LSMC. | Fair value is calculated by using the Discounted Cash Flow Model, Binomial Tree, which is a valuation technique commonly used in the market taking into account the price and variability of the underlying asset, and LSMC. | ||
Input variables | Values of underlying assets, volatility, credit spread, discount rate and terminal growth rate | Values of underlying assets, volatility, credit spread, discount rate and terminal growth rate | ||
Derivative assets | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | ₩ 4,803,131 | ₩ 6,901,742 | ||
Derivative assets | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | [1] | ₩ 10,911 | ₩ 18,416 | |
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | ||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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 | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | [1] | ₩ 4,762,872 | ₩ 6,875,454 | |
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | ||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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. | ||
Fair value measurement methods | Fair value is measured by models such as option model (Closed form), DCF model, FDM and Monte Carlo Simulation. | Fair value is measured by models such as option model (Closed form), DCF model, FDM and Monte Carlo Simulation. | ||
Derivative assets | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | ₩ 29,348 | ₩ 7,872 | ||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Fair value measurement methods | Fair value is measured by models such as option model (Closed form), DCF model, FDM and Monte Carlo Simulation. | Fair value is measured by models such as option model (Closed form), DCF model, FDM and Monte Carlo Simulation. | ||
Input variables | Risk-free market rate, discount rate, values of underlying assets such as foreign exchange rate and stock prices, volatility, etc. | Risk-free market rate, discount rate, values of underlying assets such as foreign exchange rate and stock prices, volatility, etc. | ||
Input variables | Risk-free market rate, discount rate, values of underlying assets such as foreign exchange rate and stock prices, volatility, etc. | Risk-free market rate, discount rate, values of underlying assets such as foreign exchange rate and stock prices, volatility, etc. | ||
Others | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | ₩ 96,191 | ₩ 84,979 | ||
Others | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | [1] | ₩ 0 | ₩ 0 | |
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | ||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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. | ||
Others | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | [1] | ₩ 0 | ₩ 0 | |
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | ||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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. | ||
Others | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at fair value through profit or loss | ₩ 96,191 | ₩ 84,979 | ||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Fair value measurement methods | Fair value is calculated by using the binominal tree. Least-Squares Monte Carlo simulation (LSMC) and Income approach, which are commonly used valuation techniques in the market taking into account the price and variability of the underlying asset after measuring the fair value of underlying asset using Models including Discounted Cash Flow Model. | Fair value is calculated by using the binominal tree. Least-Squares Monte Carlo simulation (LSMC) and Income approach, which are commonly used valuation techniques in the market taking into account the price and variability of the underlying asset after measuring the fair value of underlying asset using Models including Discounted Cash Flow Model. | ||
Input variables | Stock prices, volatility of underlying assets, etc. | |||
Financial assets at FVTOCI | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at FVTOCI | [1] | ₩ 5,989,812 | ₩ 3,602,310 | |
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | ||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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 FVTOCI | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at FVTOCI | [1] | ₩ 32,548,522 | ₩ 25,855,904 | |
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | ||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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 FVTOCI | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at FVTOCI | ₩ 581,455 | ₩ 570,715 | ||
Debt securities | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at FVTOCI | 38,126,977 | 28,948,141 | ||
Debt securities | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at FVTOCI | [1] | ₩ 5,578,455 | ₩ 3,092,237 | |
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | ||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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. | ||
Debt securities | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at FVTOCI | [1] | ₩ 32,548,522 | ₩ 25,855,904 | |
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | ||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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. | ||
Fair value measurement methods | Fair value is measured by discounting the future cash flows of debt securities applying the risk-free market rate with credit spread. | Fair value is measured by discounting the future cash flows of debt securities applying the risk-free market rate with credit spread. | ||
Input variables | Risk-free market rate and credit spread | Risk-free market rate and credit spread | ||
Debt securities | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at FVTOCI | ₩ 0 | ₩ 0 | ||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Fair value measurement methods | The Group is measuring fair value with LSMC and the Hull-White model. | The Group is measuring fair value with LSMC and the Hull-White model. | ||
Input variables | Stock volatility, interest rate volatility and discount rate | Stock volatility, interest rate volatility and discount rate | ||
Equity securities | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at FVTOCI | ₩ 992,812 | ₩ 1,080,788 | ||
Equity securities | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at FVTOCI | [1] | ₩ 411,357 | ₩ 510,073 | |
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | ||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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. | ||
Equity securities | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at FVTOCI | [1] | ₩ 0 | ₩ 0 | |
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | ||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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. | ||
Equity securities | Level 3 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Financial assets at FVTOCI | ₩ 581,455 | ₩ 570,715 | ||
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, Net Asset Value Method, LSMC, and Binomial Tree, more than one method is used given the characteristic of the subject of fair value measurement. | 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, Net Asset Value Method, LSMC, and Binomial Tree, 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, corporate Beta, stock prices, volatility of underlying asset, net asset of the investment association and discount rate | Risk-free market rate, market risk premium, corporate Beta, stock prices, volatility of underlying asset, net asset of the investment association and discount rate | ||
Securities loaned | Level 1 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | |||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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. | ||
Securities loaned | Level 2 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | 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. | |||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | 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) | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Derivative financial assets | ₩ 106,764 | ₩ 174,820 | ||
Derivative assets (Designated for hedging) | Level 1 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Derivative financial assets | [1] | 0 | 0 | |
Derivative assets (Designated for hedging) | Level 2 | ||||
Fair value of financial instruments measured at fair value [Line Items] | ||||
Derivative financial assets | [1] | ₩ 106,764 | ₩ 174,820 | |
Financial liabilities at fair value through profit or loss [abstract] | ||||
Fair value measurement methods | Fair value is measured by models such as option model (Closed form), DCF model, FDM and Monte Carlo Simulation. | Fair value is measured by models such as option model (Closed form), DCF model, FDM and Monte Carlo Simulation. | ||
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 at fair value through profit or loss [abstract] | ||||
Fair value measurement methods | Fair value is measured by models such as option model (Closed form), DCF model, FDM and Monte Carlo Simulation. | Fair value is measured by models such as option model (Closed form), DCF model, FDM and Monte Carlo Simulation. | ||
Input variables | Risk-free market rate, discount rate, values of underlying assets such as foreign exchange rate and stock prices, volatility, etc. | Risk-free market rate, discount rate, values of underlying assets such as foreign exchange rate and stock prices, volatility, etc. | ||
Input variables | Risk-free market rate, discount rate, values of underlying assets such as foreign exchange rate and stock prices, volatility, etc. | Risk-free market rate, discount rate, values of underlying assets such as foreign exchange rate and stock prices, volatility, etc. | ||
Financial liabilities | Level 1 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Financial liabilities at fair value through profit or loss measured at fair value | [1] | ₩ 286,683 | ||
Total | [1] | ₩ 286,683 | ₩ 340,329 | |
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities | 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 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Financial liabilities at fair value through profit or loss measured at fair value | [1] | ₩ 4,582,134 | ||
Total | [1] | ₩ 4,609,718 | ₩ 6,498,496 | |
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities | 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 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Financial liabilities at fair value through profit or loss measured at fair value | ₩ 4,641 | |||
Total | ₩ 4,641 | ₩ 39,766 | ||
Financial liabilities at FVTPL | Level 1 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Financial liabilities at fair value through profit or loss measured at fair value | [1] | ₩ 340,329 | ||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities | 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 at FVTPL | Level 2 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Financial liabilities at fair value through profit or loss measured at fair value | [1] | ₩ 6,433,727 | ||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities | 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 at FVTPL | Level 3 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Financial liabilities at fair value through profit or loss measured at fair value | ₩ 20,136 | |||
Deposits due to Customers | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Financial liabilities at fair value through profit or loss measured at fair value | ₩ 65,016 | 49,279 | ||
Deposits due to Customers | Level 1 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Financial liabilities at fair value through profit or loss measured at fair value | [1] | ₩ 65,016 | ₩ 49,279 | |
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities | 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. | ||
Deposits due to Customers | Level 2 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Financial liabilities at fair value through profit or loss measured at fair value | [1] | ₩ 0 | ₩ 0 | |
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities | 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. | ||
Deposits due to Customers | Level 3 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Financial liabilities at fair value through profit or loss measured at fair value | ₩ 0 | ₩ 0 | ||
Derivative liabilities (Designated for trading) | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Financial liabilities at fair value through profit or loss measured at fair value | 4,567,268 | 6,459,887 | ||
Derivative liabilities (Designated for trading) | Level 1 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Financial liabilities at fair value through profit or loss measured at fair value | [1] | ₩ 10,259 | ₩ 6,024 | |
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities | 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 trading) | Level 2 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Financial liabilities at fair value through profit or loss measured at fair value | [1] | ₩ 4,552,368 | ₩ 6,433,727 | |
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities | 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. | ||
Fair value measurement methods | Fair value is measured by models such as option model (Closed form), DCF model, FDM and Monte Carlo Simulation. | |||
Fair value measurement methods | Fair value is measured by models such as option model (Closed form), DCF model, FDM and Monte Carlo Simulation. | |||
Input variables | Discount rate, values of underlying assets such as foreign exchange rate and stock prices, risk-free market rate, forward rate, etc. | Discount rate, values of underlying assets such as foreign exchange rate and stock prices, risk-free market rate, forward rate, etc. | ||
Derivative liabilities (Designated for trading) | Level 3 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Financial liabilities at fair value through profit or loss measured at fair value | ₩ 4,641 | ₩ 20,136 | ||
Fair value measurement methods | Fair value is measured by models such as option model (Closed form), DCF model, FDM and Monte Carlo Simulation. | |||
Fair value measurement methods | Fair value is measured by models such as option model (Closed form), DCF model, FDM and Monte Carlo Simulation. | |||
Securities sold | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Financial liabilities at fair value through profit or loss measured at fair value | ₩ 241,174 | ₩ 285,026 | ||
Securities sold | Level 1 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Financial liabilities at fair value through profit or loss measured at fair value | [1] | ₩ 211,408 | ₩ 285,026 | |
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities | 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. | ||
Securities sold | Level 2 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Financial liabilities at fair value through profit or loss measured at fair value | [1] | ₩ 29,766 | ₩ 0 | |
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities | 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. | ||
Securities sold | Level 3 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Financial liabilities at fair value through profit or loss measured at fair value | ₩ 0 | ₩ 0 | ||
Equity-linked securities | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Financial liabilities designated at FVTPL | 19,630 | |||
Equity-linked securities | Level 1 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Financial liabilities designated at FVTPL | [1] | ₩ 0 | ||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities | 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. | ||
Equity-linked securities | Level 2 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Financial liabilities designated at FVTPL | [1] | ₩ 0 | ||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities | 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. | ||
Equity-linked securities | Level 3 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Financial liabilities designated at FVTPL | ₩ 19,630 | |||
Fair value measurement methods | Fair value is measured by models such as option model (Closed form), DCF model, FDM and Monte Carlo Simulation. | Fair value is measured by models such as option model (Closed form), DCF model, FDM and Monte Carlo Simulation. | ||
Input variables | Volatility of underlying assets, discount rate, dividends, volatility, correlation coefficient, foreign exchange rate, etc. | Volatility of underlying assets, discount rate, dividends, volatility, correlation coefficient, foreign exchange rate, etc. | ||
Derivative financial liabilities held for hedging [Member] | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Derivative liabilities (Designated for hedging) | ₩ 27,584 | ₩ 64,769 | ||
Derivative financial liabilities held for hedging [Member] | Level 1 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Derivative liabilities (Designated for hedging) | [1] | ₩ 0 | ₩ 0 | |
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities | 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 financial liabilities held for hedging [Member] | Level 2 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Derivative liabilities (Designated for hedging) | [1] | ₩ 27,584 | ₩ 64,769 | |
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities | 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. | ||
Fair value measurement methods | Fair value is measured by models such as option model (Closed form), DCF model, FDM and Monte Carlo Simulation. | Fair value is measured by models such as option model (Closed form), DCF model, FDM and Monte Carlo Simulation. | ||
Input variables | Discount rate, values of underlying assets such as foreign exchange rate and stock prices, risk-free market rate, forward rate, etc. | Discount rate, values of underlying assets such as foreign exchange rate and stock prices, risk-free market rate, forward rate, etc. | ||
Input variables | Discount rate, values of underlying assets such as foreign exchange rate and stock prices, risk-free market rate, forward rate, etc. | Discount rate, values of underlying assets such as foreign exchange rate and stock prices, risk-free market rate, forward rate, etc. | ||
Derivative financial liabilities held for hedging [Member] | Level 3 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||
Derivative liabilities (Designated for hedging) | ₩ 0 | ₩ 0 | ||
Fair value measurement methods | Fair value is measured by models such as option model (Closed form), DCF model, FDM and Monte Carlo Simulation. | Fair value is measured by models such as option model (Closed form), DCF model, FDM and Monte Carlo Simulation. | ||
[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. |
Fair value of financial asset_4
Fair value of financial assets and liabilities - Valuation methods of financial assets and liabilities measured at fair value and classified into Level 3 and significant but unobservable inputs (Details) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Description of valuation processes used in fair value measurement assets | Financial assets and liabilities at FVTPL, financial liabilities at FVTPL designated as upon initial recognition, financial assets at FVTOCI, and derivative assets and liabilities 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.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. | Financial assets and liabilities at FVTPL, financial liabilities at FVTPL designated as upon initial recognition, financial assets at FVTOCI, and derivative assets and liabilities 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.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. |
Description of valuation processes used in fair value measurement liabilities | Financial assets and liabilities at FVTPL, financial liabilities at FVTPL designated as upon initial recognition, financial assets at FVTOCI, and derivative assets and liabilities 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.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. | Financial assets and liabilities at FVTPL, financial liabilities at FVTPL designated as upon initial recognition, financial assets at FVTOCI, and derivative assets and liabilities 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.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. |
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Abstract] | ||
Description of methods used to develop and substantiate unobservable inputs used in fair value measurement, assets | 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. | 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. |
Description of methods used to develop and substantiate unobservable inputs used in fair value measurement, liabilities | 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. | 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. |
Loans, bond with options, convertible bonds | Binomial Tree | Stock prices, Volatility of underlying asset | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Impact of changes in significant unobservable inputs on fair value measurement | Variation of fair value increases as volatility of underlying asset increases. | Variation of fair value increases as volatility of underlying asset increases. |
Loans, bond with options, convertible bonds | Binomial Tree | Stock prices, Volatility of underlying asset | Bottom of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, assets | 19.82 | |
Loans, bond with options, convertible bonds | Binomial Tree | Stock prices, Volatility of underlying asset | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, assets | 22.62 | 22.84 |
Loans, bond with options, convertible bonds | LSMC | Stock prices, Volatility of underlying asset | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Impact of changes in significant unobservable inputs on fair value measurement | Variation of fair value increases as volatility of underlying asset increases. | Variation of fair value increases as volatility of underlying asset increases. |
Loans, bond with options, convertible bonds | LSMC | Stock prices, Volatility of underlying asset | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, assets | 19.48 | 18.99 |
Loans, bond with options, convertible bonds | DCF model | Terminal growth rate | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Impact of changes in significant unobservable inputs on fair value measurement | Fair value increases as terminal growth rate increases. | |
Loans, bond with options, convertible bonds | DCF model | Terminal growth rate | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, assets | 1 | |
Loans, bond with options, convertible bonds | DCF model | Credit spread | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Impact of changes in significant unobservable inputs on fair value measurement | Fair value decreases as credit spread increases. | |
Loans, bond with options, convertible bonds | DCF model | Credit spread | Bottom of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, assets | 2.30 | |
Loans, bond with options, convertible bonds | DCF model | Credit spread | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, assets | 5.90 | |
Loans, bond with options, convertible bonds | DCF model | Discount rate | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Impact of changes in significant unobservable inputs on fair value measurement | Fair value increases as discount rate decreases. | |
Loans, bond with options, convertible bonds | DCF model | Discount rate | Bottom of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, assets | 4.70 | |
Loans, bond with options, convertible bonds | DCF model | Discount rate | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, assets | 16.50 | |
Loans, bond with options, convertible bonds | Hull-White model | Interest rate volatility | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Impact of changes in significant unobservable inputs on fair value measurement | Fair value increases as volatility increases. | |
Loans, bond with options, convertible bonds | Hull-White model | Interest rate volatility | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, assets | 0.50 | |
Loans, bond with options, convertible bonds | Hull-White model | Stock volatility | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Impact of changes in significant unobservable inputs on fair value measurement | Fair value increases as volatility increases. | |
Loans, bond with options, convertible bonds | Hull-White model | Stock volatility | Bottom of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, assets | 17.50 | |
Loans, bond with options, convertible bonds | Hull-White model | Stock volatility | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, assets | 27.30 | |
Loans, bond with options, convertible bonds | Hull-White model | Discount rate | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Impact of changes in significant unobservable inputs on fair value measurement | Fair value increases as discount rate decreases. | |
Loans, bond with options, convertible bonds | Hull-White model | Discount rate | Bottom of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, assets | 3.10 | |
Loans, bond with options, convertible bonds | Hull-White model | Discount rate | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, assets | 53.20 | |
Interest rate related derivative assets | DCF model | Credit risk adjustment ratio | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Impact of changes in significant unobservable inputs on fair value measurement | Variation of fair value decreases as credit risk adjustment ratio increases. | Variation of fair value decreases as credit risk adjustment ratio increases. |
Interest rate related derivative assets | DCF model | Credit risk adjustment ratio | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, assets | 100 | 100 |
Interest rate related derivative assets | Option valuation model and others | Correlation coefficient | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
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 correlation coefficient increases. |
Interest rate related derivative assets | Option valuation model and others | Correlation coefficient | Bottom of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, assets | 0.90 | 0.90 |
Interest rate related derivative assets | Option valuation model and others | Correlation coefficient | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, assets | 0.98 | 0.98 |
Interest rate related derivative assets | Option valuation model and others | Volatility of underlying asset | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Impact of changes in significant unobservable inputs on fair value measurement | Variation of fair value increases as volatility of underlying assets increases. | Variation of fair value increases as volatility of underlying assets increases. |
Interest rate related derivative assets | Option valuation model and others | Volatility of underlying asset | Bottom of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, assets | 24.84 | 25.46 |
Interest rate related derivative assets | Option valuation model and others | Volatility of underlying asset | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, assets | 97.50 | 131.47 |
Equity related derivative assets | Option valuation model and others | Correlation coefficient | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
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 correlation coefficient increases. |
Equity related derivative assets | Option valuation model and others | Correlation coefficient | Bottom of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, assets | 0.18 | 0.29 |
Equity related derivative assets | Option valuation model and others | Correlation coefficient | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, assets | 0.76 | 0.75 |
Equity related derivative assets | Option valuation model and others | Volatility of underlying asset | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Impact of changes in significant unobservable inputs on fair value measurement | Variation of fair value increases as volatility of underlying assets increases. | Variation of fair value increases as volatility of underlying assets increases. |
Equity related derivative assets | Option valuation model and others | Volatility of underlying asset | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, assets | 0 | 0 |
Interest rate related derivative liabilities | Option valuation model and others | Correlation coefficient | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
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 correlation coefficient increases. |
Interest rate related derivative liabilities | Option valuation model and others | Correlation coefficient | Bottom of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, liabilities | 0.90 | 0.90 |
Interest rate related derivative liabilities | Option valuation model and others | Correlation coefficient | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, liabilities | 0.98 | 0.98 |
Interest rate related derivative liabilities | Option valuation model and others | Volatility of underlying asset | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Impact of changes in significant unobservable inputs on fair value measurement | Variation of fair value increases as volatility of underlying assets increases. | Variation of fair value increases as volatility of underlying assets increases. |
Interest rate related derivative liabilities | Option valuation model and others | Volatility of underlying asset | Bottom of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, liabilities | 24.84 | 25.46 |
Interest rate related derivative liabilities | Option valuation model and others | Volatility of underlying asset | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, liabilities | 97.50 | 131.47 |
Equity related derivative liabilities | Option valuation model and others | Correlation coefficient | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
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 correlation coefficient increases. |
Equity related derivative liabilities | Option valuation model and others | Correlation coefficient | Bottom of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, liabilities | 0.18 | 0.29 |
Equity related derivative liabilities | Option valuation model and others | Correlation coefficient | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, liabilities | 0.76 | 0.75 |
Equity related derivative liabilities | Option valuation model and others | Volatility of underlying asset | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Impact of changes in significant unobservable inputs on fair value measurement | Variation of fair value increases as volatility of underlying assets increases. | Variation of fair value increases as volatility of underlying assets increases. |
Equity related derivative liabilities | Option valuation model and others | Volatility of underlying asset | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, liabilities | 0 | 0 |
Equity-linked securities | Monte Carlo Simulation and others | Correlation coefficient | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Impact of changes in significant unobservable inputs on fair value measurement | Fair value of equity-linked securities increases if both historical volatility and correlation coefficient increase. However, when correlation coefficient decreases despite the increase in historical volatility, the fair value variation of equity-linked securities may decrease. | |
Equity-linked securities | Monte Carlo Simulation and others | Correlation coefficient | Bottom of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, liabilities | 0.48 | |
Equity-linked securities | Monte Carlo Simulation and others | Correlation coefficient | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, liabilities | 0.60 | |
Equity-linked securities | Monte Carlo Simulation and others | Volatility of underlying asset | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Impact of changes in significant unobservable inputs on fair value measurement | Fair value of equity-linked securities increases if both historical volatility and correlation coefficient increase. However, when correlation coefficient decreases despite the increase in historical volatility, the fair value variation of equity-linked securities may decrease. | |
Equity-linked securities | External appraisal value and others | Volatility of underlying asset | Bottom of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, liabilities | 27.59 | |
Equity-linked securities | External appraisal value and others | Volatility of underlying asset | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, liabilities | 49.29 | |
Equity securities, capital contributions, and beneficiary certificates | Binomial Tree | Discount rate | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Impact of changes in significant unobservable inputs on fair value measurement | Fair value increases as discount rate decreases. | |
Equity securities, capital contributions, and beneficiary certificates | Binomial Tree | Discount rate | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, liabilities | 8.50 | |
Equity securities, capital contributions, and beneficiary certificates | Binomial Tree | Volatility | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Impact of changes in significant unobservable inputs on fair value measurement | Fair value increases as volatility increases. | |
Equity securities, capital contributions, and beneficiary certificates | Binomial Tree | Volatility | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, liabilities | 39.60 | |
Equity securities, capital contributions, and beneficiary certificates | LSMC | Stock prices, Volatility of underlying asset | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Impact of changes in significant unobservable inputs on fair value measurement | Variation of fair value increases as volatility of underlying asset increases. | Variation of fair value increases as volatility of underlying asset increases. |
Equity securities, capital contributions, and beneficiary certificates | LSMC | Stock prices, Volatility of underlying asset | Bottom of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, liabilities | 18.99 | |
Equity securities, capital contributions, and beneficiary certificates | LSMC | Stock prices, Volatility of underlying asset | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, liabilities | 0 | 26.45 |
Equity securities, capital contributions, and beneficiary certificates | DCF model and others | Terminal growth rate | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Impact of changes in significant unobservable inputs on fair value measurement | Fair value increases as terminal growth rate increases. | Fair value increases as terminal growth rate increases. |
Equity securities, capital contributions, and beneficiary certificates | DCF model and others | Terminal growth rate | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, liabilities | 1 | 1 |
Equity securities, capital contributions, and beneficiary certificates | DCF model and others | Discount rate | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Impact of changes in significant unobservable inputs on fair value measurement | Fair value increases as discount rate decreases. | Fair value increases as discount rate decreases. |
Equity securities, capital contributions, and beneficiary certificates | DCF model and others | Discount rate | Bottom of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, liabilities | 0 | 5.83 |
Equity securities, capital contributions, and beneficiary certificates | DCF model and others | Discount rate | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, liabilities | 35.92 | 34.63 |
Equity securities, capital contributions, and beneficiary certificates | DCF model and others | Fluctuation rate of real estate sales price | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Impact of changes in significant unobservable inputs on fair value measurement | Fair value increases as sales price increases | |
Equity securities, capital contributions, and beneficiary certificates | DCF model and others | Fluctuation rate of real estate sales price | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, liabilities | 0 | |
Equity securities, capital contributions, and beneficiary certificates | DCF model and others | Liquidation value | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Impact of changes in significant unobservable inputs on fair value measurement | Variation of liquidation value increases as volatility of underlying assets increases | Variation of liquidation value increases as volatility of underlying assets increases |
Equity securities, capital contributions, and beneficiary certificates | DCF model and others | Liquidation value | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, liabilities | 0 | 0 |
Equity securities, capital contributions, and beneficiary certificates | Net asset value method | Discount rate | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Impact of changes in significant unobservable inputs on fair value measurement | Fair value increases as discount rate decreases. | |
Equity securities, capital contributions, and beneficiary certificates | Net asset value method | Discount rate | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, liabilities | 14.30 | |
Others | LSMC | Stock prices, Volatility of underlying asset | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Impact of changes in significant unobservable inputs on fair value measurement | Variation of fair value increases as volatility of underlying asset increases. | Variation of fair value increases as volatility of underlying asset increases. |
Others | LSMC | Stock prices, Volatility of underlying asset | Bottom of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, liabilities | 19.48 | 17.61 |
Others | LSMC | Stock prices, Volatility of underlying asset | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, liabilities | 28.41 | 26.45 |
Others | Income approach | Discount rate | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Impact of changes in significant unobservable inputs on fair value measurement | Fair value increases as discount rate decreases. | |
Others | Income approach | Discount rate | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, liabilities | 12.69 | |
Others | Income approach | Growth rate | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Impact of changes in significant unobservable inputs on fair value measurement | Fair value increases as growth rate increases. | Fair value increases as growth rate increases. |
Others | Income approach | Growth rate | Top of range [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | ||
Significant unobservable input, liabilities | 1 | 1 |
Fair value of financial asset_5
Fair value of financial assets and liabilities - Details of financial assets and liabilities classified into Level 3 of fair value hierarchy (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | ₩ 4,150,878 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Ending balance | 3,623,168 | ₩ 4,150,878 | |||||
Gains losses from financial assets and liabilities classified as level3 that the group holds as at the end of the year | 2,634 | ₩ 37,430 | ₩ 21,809 | ||||
Description of reasons for transfers into Level 3 of fair value hierarchy, assets | The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||||||
Description of reasons for transfers out of Level 3 of fair value hierarchy, assets | The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||||||
Description of reasons for transfers into Level 3 of fair value hierarchy, liabilities | The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||||||
Description of reasons for transfers out of Level 3 of fair value hierarchy, liabilities | The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | ₩ 833 | ||||||
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 | [1] | ||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | 0 | ₩ 0 | [1] | ||||
Financial instruments measured at fair value level 3 of fair value hierarchy except for sensitivity analysis | ₩ 3,030,775 | ₩ 3,052,432 | |||||
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 | Woori Bank, a subsidiary of the Group, uses the internal model approved by the Financial Supervisory Service to measure the VaR using the Historical Simulation Method based on a 99% confidence level and a 10-day retention period, and calculates the required capital risk for calculating the BIS ratio. For internal management purposes, limit management is performed on a daily basis measuring VaR based on a 99% confidence and 1 day retention period. In addition, Woori Bank perform a daily verification that compares VaR measurement and profit and loss to verify the suitability of the model. | ||||||
Financial assets | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | ₩ 4,111,113 | ₩ 2,996,755 | ₩ 2,385,257 | ||||
Beginning balance | 2,996,755 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Business combination | 379,459 | 2,115 | |||||
Net Income(loss) | 119,487 | [2] | 41,051 | [3] | 88,982 | [4] | |
Other comprehensive income | 11,362 | (4,920) | 23,063 | ||||
Purchases/issuances | 1,478,167 | 1,684,153 | 911,301 | ||||
Disposals/settlements | (2,096,296) | (975,385) | (420,946) | ||||
Transfer to or out of level 3 | (5,305) | [5] | (10,000) | [5] | 6,983 | [6] | |
Ending balance | 3,618,528 | 4,111,113 | 2,996,755 | ||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | 10,937 | 11,638 | 18,673 | ||||
Unfavorable changes in unobservable inputs in net income(loss) | (9,252) | (10,620) | (13,757) | ||||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | 30,391 | 21,587 | 26,380 | ||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | (23,865) | (16,740) | (11,981) | ||||
Financial assets at FVTPL | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | 3,540,398 | 2,503,057 | 1,916,410 | ||||
Beginning balance | 2,503,057 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Business combination | 379,459 | 707 | |||||
Net Income(loss) | 119,487 | [2] | 41,051 | [3] | 88,982 | [4] | |
Other comprehensive income | 0 | 0 | 0 | ||||
Purchases/issuances | 1,477,522 | 1,601,926 | 910,614 | ||||
Disposals/settlements | (2,095,029) | (972,903) | (420,640) | ||||
Transfer to or out of level 3 | (5,305) | [5] | (12,192) | [5] | 6,984 | [6] | |
Ending balance | 3,037,073 | 3,540,398 | 2,503,057 | ||||
Debt securities | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | 4,618 | 5,826 | 8,389 | ||||
Beginning balance | 5,826 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Business combination | 0 | 0 | |||||
Net Income(loss) | (431) | [2] | (632) | [3] | 476 | [4] | |
Other comprehensive income | 0 | 0 | 0 | ||||
Purchases/issuances | 1,000 | 2,627 | 2,000 | ||||
Disposals/settlements | (4,070) | (3,203) | (5,039) | ||||
Transfer to or out of level 3 | 1,000 | [5] | 0 | [5] | 0 | [6] | |
Ending balance | 2,117 | 4,618 | 5,826 | ||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | 13 | 13 | 652 | ||||
Unfavorable changes in unobservable inputs in net income(loss) | (12) | (10) | (640) | ||||
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 | ||||
Equity securities | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | 450,371 | 528,621 | 401,860 | ||||
Beginning balance | 464,741 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Business combination | 3,894 | 0 | |||||
Net Income(loss) | (24,501) | [2] | (8,977) | [3] | 59,537 | [4] | |
Other comprehensive income | 0 | 0 | 0 | ||||
Purchases/issuances | 33,570 | 5,088 | 95,511 | ||||
Disposals/settlements | (154,455) | (14,407) | (28,287) | ||||
Transfer to or out of level 3 | (1,000) | [5] | 32 | [5] | 0 | [6] | |
Ending balance | 303,985 | 450,371 | 528,621 | ||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | [7] | 6,348 | [8],[9] | 8,539 | [8],[10] | 16,104 | [11] |
Unfavorable changes in unobservable inputs in net income(loss) | [7] | (5,331) | [8],[9] | (7,337) | [8],[10] | (10,929) | [11] |
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | [7] | 0 | [8],[9] | 0 | [8],[10] | 0 | [11] |
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | [7] | ₩ 0 | [8],[9] | ₩ 0 | [8],[10] | ₩ 0 | [11] |
Description of methods and assumptions used in preparing sensitivity analysis | Fair value changes of equity securities are calculated by increasing or decreasing stock prices (-10%~10%) and volatility (-10~10%). The stock prices and volatility are major unobservable variables. Fair value changes of equity securities are calculated by increasing or decreasing terminal growth rate (-0.5%~0.5%) and discount rate (-1~1%) 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 rate of real estate which is underlying assets and discount rate by 1%. | Fair value changes of equity securities are calculated by increasing or decreasing stock prices (-10%~10%) and volatility (-10~10%). The stock prices and volatility are major unobservable variables. Fair value changes of equity securities are calculated by increasing or decreasing terminal growth rate (0~1%) and discount rate (-1~1%) 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 rate of real estate which is underlying assets and discount rate by 1%. | Fair value changes of equity securities are calculated by increasing or decreasing terminal 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 rate of real estate which is underlying assets and discount rate by 1%. | ||||
Capital contributions | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | ₩ 865,685 | ₩ 515,199 | ₩ 422,614 | ||||
Beginning balance | 515,199 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Business combination | 173,244 | 707 | |||||
Net Income(loss) | 82,596 | [2] | 39,500 | [3] | (13,270) | [4] | |
Other comprehensive income | 0 | 0 | 0 | ||||
Purchases/issuances | 575,643 | 194,396 | 173,064 | ||||
Disposals/settlements | (236,201) | (56,654) | (67,916) | ||||
Transfer to or out of level 3 | 0 | [5] | 0 | [5] | 0 | [6] | |
Ending balance | 1,287,723 | 865,685 | 515,199 | ||||
Beneficiary certificates | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | 1,917,811 | 1,275,734 | 854,299 | ||||
Beginning balance | 1,275,734 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Business combination | 166,467 | 0 | |||||
Net Income(loss) | 10,347 | [2] | (7,919) | [3] | 18,450 | [4] | |
Other comprehensive income | 0 | 0 | 0 | ||||
Purchases/issuances | 86,224 | 715,437 | 578,228 | ||||
Disposals/settlements | (910,308) | (231,908) | (183,684) | ||||
Transfer to or out of level 3 | 0 | [5] | 0 | [5] | 8,441 | [6] | |
Ending balance | 1,104,074 | 1,917,811 | 1,275,734 | ||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | [7] | 1,305 | 1,403 | 1,125 | |||
Unfavorable changes in unobservable inputs in net income(loss) | [7] | (1,171) | (1,537) | (1,125) | |||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | [7] | 0 | 0 | 0 | |||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | [7] | ₩ 0 | ₩ 0 | ₩ 0 | |||
Description of methods and assumptions used in preparing sensitivity analysis | 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 rate 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 rate 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 rate of real estate which is underlying assets and discount rate by 1%. | ||||
Loans | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | ₩ 209,062 | ₩ 152,629 | ₩ 180,450 | ||||
Beginning balance | 152,629 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Business combination | 35,854 | 0 | |||||
Net Income(loss) | 16,975 | [2] | 6,149 | [3] | 6,854 | [4] | |
Other comprehensive income | 0 | 0 | 0 | ||||
Purchases/issuances | 761,045 | 656,880 | 60,696 | ||||
Disposals/settlements | (773,447) | (642,450) | (95,371) | ||||
Transfer to or out of level 3 | 0 | [5] | 0 | [5] | 0 | [6] | |
Ending balance | 213,635 | 209,062 | 152,629 | ||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | [8] | 682 | 933 | 152 | |||
Unfavorable changes in unobservable inputs in net income(loss) | [8] | (671) | (932) | (128) | |||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | [8] | 0 | 0 | 0 | |||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | [8] | ₩ 0 | ₩ 0 | ₩ 0 | |||
Description of methods and assumptions used in preparing sensitivity analysis | Fair value changes of equity securities are calculated by increasing or decreasing stock prices (-10%~10%) and volatility (-10~10%). The stock prices and volatility are major unobservable variables. | Fair value changes of equity securities are calculated by increasing or decreasing stock prices (-10%~10%) and volatility (-10~10%). The stock prices and volatility are major unobservable variables. | Fair value changes of equity securities are calculated by increasing or decreasing stock prices (-10%~10%) and volatility (-10~10%). The stock prices and volatility are major unobservable variables. | ||||
Derivative assets | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | ₩ 7,872 | ₩ 25,048 | ₩ 48,798 | ||||
Beginning balance | 25,048 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Business combination | 0 | 0 | |||||
Net Income(loss) | 22,256 | [2] | 9,458 | [3] | 16,935 | [4] | |
Other comprehensive income | 0 | 0 | 0 | ||||
Purchases/issuances | 5,058 | 9,501 | 1,115 | ||||
Disposals/settlements | 0 | (23,911) | (40,343) | ||||
Transfer to or out of level 3 | (5,838) | [5] | (12,224) | [5] | (1,457) | [6] | |
Ending balance | 29,348 | 7,872 | 25,048 | ||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | [1] | 1,668 | 110 | 640 | |||
Unfavorable changes in unobservable inputs in net income(loss) | [1] | (1,191) | (257) | (935) | |||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | [1] | 0 | 0 | 0 | |||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | [1] | ₩ 0 | ₩ 0 | ₩ 0 | |||
Description of methods and assumptions used in preparing sensitivity analysis | Fair value changes of equity related derivatives 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 derivatives 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 derivatives 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%. | ||||
Others | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | ₩ 84,979 | ||||||
Beginning balance | ₩ 63,880 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Business combination | 0 | ||||||
Net Income(loss) | 12,245 | [2] | 3,472 | [3] | |||
Other comprehensive income | 0 | 0 | |||||
Purchases/issuances | 14,982 | 17,997 | |||||
Disposals/settlements | (16,548) | (370) | |||||
Transfer to or out of level 3 | [5] | 533 | 0 | ||||
Ending balance | 96,191 | 84,979 | |||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | [8] | 921 | 640 | ||||
Unfavorable changes in unobservable inputs in net income(loss) | [8] | (876) | (547) | ||||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | [8] | 0 | 0 | ||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | [8] | ₩ 0 | ₩ 0 | ||||
Description of methods and assumptions used in preparing sensitivity analysis | Fair value changes of equity securities are calculated by increasing or decreasing stock prices (-10%~10%) and volatility (-10~10%). The stock prices and volatility are major unobservable variables. | Fair value changes of equity securities are calculated by increasing or decreasing stock prices (-10%~10%) and volatility (-10~10%). The stock prices and volatility are major unobservable variables. | Fair value changes of equity securities are calculated by increasing or decreasing stock prices (-10%~10%) and volatility (-10~10%). The stock prices and volatility are major unobservable variables. | ||||
Equity securities | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | ₩ 570,715 | ₩ 493,698 | ₩ 468,847 | ||||
Beginning balance | 493,698 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Business combination | 0 | 1,408 | |||||
Net Income(loss) | 0 | [2] | 0 | [3] | |||
Other comprehensive income | 11,362 | (4,920) | 23,063 | ||||
Purchases/issuances | 645 | 82,227 | 687 | ||||
Disposals/settlements | (1,267) | (2,482) | (306) | ||||
Transfer to or out of level 3 | 0 | [5] | 2,192 | [5] | (1) | [6] | |
Ending balance | 581,455 | 570,715 | 493,698 | ||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | [7] | 0 | [9] | 0 | [10] | 0 | [11] |
Unfavorable changes in unobservable inputs in net income(loss) | [7] | 0 | [9] | 0 | [10] | 0 | [11] |
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | [7] | 30,391 | [9] | 21,587 | [10] | 26,380 | [11] |
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | [7] | ₩ (23,865) | [9] | ₩ (16,740) | [10] | ₩ (11,981) | [11] |
Description of methods and assumptions used in preparing sensitivity analysis | Fair value changes of equity securities are calculated by increasing or decreasing terminal growth rate (-0.5%~0.5%) and discount rate (-1~1%) 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 rate of real estate which is underlying assets and discount rate by 1%. | Fair value changes of equity securities are calculated by increasing or decreasing terminal growth rate (0~1%) and discount rate (-1~1%) 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 rate of real estate which is underlying assets and discount rate by 1%. | Fair value changes of equity securities are calculated by increasing or decreasing terminal 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 rate of real estate which is underlying assets and discount rate by 1%. | ||||
Financial liabilities | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | ₩ 39,766 | ₩ 159,986 | ₩ 181,458 | ||||
Beginning balance | 159,986 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Business combination | 0 | 0 | |||||
Net Income(loss) | 4,824 | [2] | 30,815 | [3] | 117,270 | [4] | |
Other comprehensive income | 0 | 0 | 0 | ||||
Purchases/issuances | (3,979) | 2,650 | (9,010) | ||||
Disposals/settlements | (29,716) | (135,152) | (127,004) | ||||
Transfer to or out of level 3 | (6,254) | [5] | (18,533) | [5] | (2,728) | [6] | |
Ending balance | 4,641 | 39,766 | 159,986 | ||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | 205 | 1,190 | |||||
Unfavorable changes in unobservable inputs in net income(loss) | (264) | (450) | (958) | ||||
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 | ||||||
Derivative liabilities | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | 20,136 | 72,039 | 16,691 | ||||
Beginning balance | 72,039 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Business combination | 0 | 0 | |||||
Net Income(loss) | 4,926 | [2] | 30,150 | [3] | 84,033 | [4] | |
Other comprehensive income | 0 | 0 | 0 | ||||
Purchases/issuances | (3,979) | 2,650 | (11,140) | ||||
Disposals/settlements | (10,188) | (66,170) | (14,817) | ||||
Transfer to or out of level 3 | (6,254) | [5] | (18,533) | [5] | (2,728) | [6] | |
Ending balance | 4,641 | 20,136 | 72,039 | ||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | [1] | 205 | 776 | 1,054 | |||
Unfavorable changes in unobservable inputs in net income(loss) | [1] | (264) | (405) | ₩ (816) | |||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | [1] | 0 | 0 | ||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | [1] | ₩ 0 | ₩ 0 | ||||
Description of methods and assumptions used in preparing sensitivity analysis | Fair value changes of equity related derivatives 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 derivatives 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 derivatives 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 | ₩ 19,630 | ₩ 87,626 | ₩ 164,767 | ||||
Beginning balance | 87,626 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Business combination | 0 | 0 | |||||
Net Income(loss) | (102) | [2] | 665 | [3] | 33,237 | [4] | |
Other comprehensive income | 0 | 0 | 0 | ||||
Purchases/issuances | 0 | 0 | 1,809 | ||||
Disposals/settlements | (19,528) | (68,661) | (112,187) | ||||
Transfer to or out of level 3 | 0 | [5] | 0 | [5] | 0 | [6] | |
Ending balance | 0 | 19,630 | 87,626 | ||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | [1] | 57 | 136 | ||||
Unfavorable changes in unobservable inputs in net income(loss) | [1] | (45) | (142) | ||||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | [1] | 0 | 0 | ||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | [1] | ₩ 0 | ₩ 0 | ||||
Description of methods and assumptions used in preparing sensitivity analysis | Fair value changes of equity related derivatives 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 derivatives 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%. | |||||
Derivatives liabilities (designated for hedging) | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | ₩ 0 | ₩ 321 | ₩ 0 | ||||
Beginning balance | 321 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Business combination | 0 | 0 | |||||
Net Income(loss) | 0 | [3] | 0 | [4] | |||
Other comprehensive income | 0 | 0 | |||||
Purchases/issuances | 0 | 321 | |||||
Disposals/settlements | (321) | 0 | |||||
Transfer to or out of level 3 | 0 | [5] | 0 | [6] | |||
Ending balance | ₩ 0 | ₩ 321 | |||||
[1] | Fair value changes of equity related derivatives 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] | For financial liabilities, positive numbers represent losses that increase balance and negative numbers represent gains that decrease balance. The gain amounting to 2,634 million Won for the year ended December 31, 2021, which is from financial assets and liabilities that the Group holds as at the end of the year. | ||||||
[3] | For financial liabilities, positive numbers represent losses that increase balance and negative numbers represent gains that decrease balance. The gain amounting to 37,430 million Won for the year ended December 31, 2020, which is from financial assets and liabilities that the Group holds as at the end of the year. | ||||||
[4] | For financial liabilities, positive numbers represent losses that increase balance and negative numbers represent gains that decrease balance. The statements of comprehensive income includes gain of 21,809 million Won included in net gain (loss) on financial assets at FVTPL and net gain (loss) on financial assets at FVTOCI pertaining to the assets and liabilities held by the Group at the end of the period. | ||||||
[5] | There were transfers between levels as the availability of observable market data for these financial instruments changed. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||||||
[6] | The Group recognizes transfers between levels at the end of reporting period within which events have occurred or conditions have changed. | ||||||
[7] | 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 rate of real estate which is underlying assets and discount rate by 1%. | ||||||
[8] | Fair value changes of equity securities are calculated by increasing or decreasing stock prices (-10%~10%) and volatility (-10~10%). The stock prices and volatility are major unobservable variables. | ||||||
[9] | Fair value changes of equity securities are calculated by increasing or decreasing terminal growth rate (-0.5%~0.5%) and discount rate (-1~1%) or liquidation value (-1~1%). The growth rate, discount rate, and liquidation value are major unobservable variables. | ||||||
[10] | Fair value changes of equity securities are calculated by increasing or decreasing terminal growth rate (0~1%) and discount rate (-1~1%) or liquidation value (-1~1%). The growth rate, discount rate, and liquidation value are major unobservable variables. | ||||||
[11] | Fair value changes of equity securities are calculated by increasing or decreasing terminal 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_6
Fair value of financial assets and liabilities - Fair value and carrying amount of financial assets and liabilities that are recorded at amortized cost (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | ||||
Dec. 31, 2021KRW (₩) | Dec. 31, 2020KRW (₩) | Dec. 31, 2021USD ($) | |||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | |||||
Securities at amortized cost | ₩ 17,043,520 | ₩ 17,268,623 | |||
Loans and other financial assets at amortized cost | 359,918,503 | 318,144,845 | |||
Deposits due to customers | 318,070,829 | 291,767,282 | |||
Borrowings | 24,663,825 | 20,763,675 | |||
Debentures | 44,500,963 | 37,931,989 | |||
Other financial liabilities | 23,596,463 | 13,591,556 | |||
Carrying value of financial assets liabilities measured at amortised cost [Abstract] | |||||
Securities at amortized cost | 17,086,274 | 17,020,839 | $ 14,375,125 | ||
Loans and other financial assets at amortized cost | 361,932,872 | [1] | 320,106,078 | [1] | 304,503,510 |
Deposits due to customers | 317,899,871 | 291,477,279 | 267,457,405 | ||
Borrowings | 24,755,459 | 20,745,466 | 20,827,410 | ||
Debentures | 44,653,864 | 37,479,358 | $ 37,568,454 | ||
Other financial liabilities | ₩ 23,890,017 | ₩ 13,808,386 | |||
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 risk-free market rate with credit spread. | The fair value is measured by discounting the projected cash flows of debt securities by applying risk-free market rate with credit spread. | |||
Input variables | Risk-free market rate and credit spread | 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 | ₩ 2,122,401 | ₩ 2,968,875 | |||
Securities at amortized cost | Level 2 | |||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | |||||
Securities at amortized cost | 14,921,119 | 14,299,748 | |||
Securities at amortized cost | Level 3 | |||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | |||||
Securities at amortized cost | ₩ 0 | ₩ 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. | 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 | 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 | ₩ 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 | 3 | 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 | ₩ 359,918,500 | ₩ 318,144,845 | |||
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, credit spread and forward rate | Risk-free market rate, credit spread 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 | 318,070,829 | 291,767,282 | |||
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, credit spread and forward rate | Risk-free market rate, credit spread 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 | 23,393,520 | 20,586,930 | |||
Borrowings | Level 3 | |||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | |||||
Borrowings | ₩ 1,270,305 | ₩ 176,745 | |||
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, credit spread and forward rate | Risk-free market rate, credit spread 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 | 44,500,963 | 37,931,989 | |||
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, credit spread and forward rate | Risk-free market rate, credit spread 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 | 23,216,929 | 13,305,067 | |||
Other financial liabilities | Level 3 | |||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | |||||
Other financial liabilities | ₩ 379,534 | ₩ 286,489 | |||
[1] | Cash and cash equivalents are not included. |
Fair value of financial asset_7
Fair value of financial assets and liabilities - Financial assets by category (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) |
Disclosure of financial assets [line items] | |||
Financial assets at fair value through profit or loss | ₩ 13,497,234 | $ 11,355,573 | ₩ 14,762,941 |
Financial assets at FVTOCI | 39,119,789 | 32,912,493 | 30,028,929 |
Financial assets at amortised cost | 379,019,146 | 337,126,917 | |
Derivative assets (Designated for hedging) | 106,764 | $ 89,823 | 174,820 |
Total | 431,742,933 | 382,093,607 | |
Deposits | |||
Disclosure of financial assets [line items] | |||
Financial assets at fair value through profit or loss | 65,072 | 48,796 | |
Financial assets at FVTOCI | 0 | 0 | |
Financial assets at amortised cost | 15,914,139 | 9,863,160 | |
Derivative assets (Designated for hedging) | 0 | 0 | |
Total | 15,979,211 | 9,911,956 | |
Securities | |||
Disclosure of financial assets [line items] | |||
Financial assets at fair value through profit or loss | 7,960,046 | 7,136,112 | |
Financial assets at FVTOCI | 39,119,789 | 30,028,929 | |
Financial assets at amortised cost | 17,086,274 | 17,020,839 | |
Derivative assets (Designated for hedging) | 0 | 0 | |
Total | 64,166,109 | 54,185,880 | |
Loans | |||
Disclosure of financial assets [line items] | |||
Financial assets at fair value through profit or loss | 667,467 | 676,291 | |
Financial assets at FVTOCI | 0 | 0 | |
Financial assets at amortised cost | 336,799,510 | 302,794,182 | |
Derivative assets (Designated for hedging) | 0 | 0 | |
Total | 337,466,977 | 303,470,473 | |
Derivative assets | |||
Disclosure of financial assets [line items] | |||
Financial assets at fair value through profit or loss | 4,803,131 | 6,901,742 | |
Financial assets at FVTOCI | 0 | 0 | |
Financial assets at amortised cost | 0 | 0 | |
Derivative assets (Designated for hedging) | 106,764 | 174,820 | |
Total | 4,909,895 | 7,076,562 | |
Other financial assets | |||
Disclosure of financial assets [line items] | |||
Financial assets at fair value through profit or loss | 1,518 | 0 | |
Financial assets at FVTOCI | 0 | 0 | |
Financial assets at amortised cost | 9,219,223 | 7,448,736 | |
Derivative assets (Designated for hedging) | 0 | 0 | |
Total | ₩ 9,220,741 | ₩ 7,448,736 |
Fair value of financial asset_8
Fair value of financial assets and liabilities - Financial liabilities by category (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) |
Disclosure of financial liabilities [line items] | |||
Financial liabilities at FVTPL | ₩ 4,873,458 | ₩ 6,794,192 | |
Financial liabilities designated at FVTPL | 0 | 19,630 | |
Financial liabilities at amortised cost | 411,199,211 | 363,510,489 | |
Derivative liabilities (Designated for hedging) | 27,584 | $ 23,207 | 64,769 |
Total | 416,100,253 | 370,389,080 | |
Deposits due to customers | |||
Disclosure of financial liabilities [line items] | |||
Financial liabilities at FVTPL | 65,016 | 49,279 | |
Financial liabilities designated at FVTPL | 0 | ||
Financial liabilities at amortised cost | 317,899,871 | 291,477,279 | |
Derivative liabilities (Designated for hedging) | 0 | 0 | |
Total | 317,964,887 | 291,526,558 | |
Borrowings | |||
Disclosure of financial liabilities [line items] | |||
Financial liabilities at FVTPL | 241,174 | 285,026 | |
Financial liabilities designated at FVTPL | 19,630 | ||
Financial liabilities at amortised cost | 24,755,459 | 20,745,466 | |
Derivative liabilities (Designated for hedging) | 0 | 0 | |
Total | 24,996,633 | 21,050,122 | |
Debentures | |||
Disclosure of financial liabilities [line items] | |||
Financial liabilities at FVTPL | 0 | 0 | |
Financial liabilities designated at FVTPL | 0 | ||
Financial liabilities at amortised cost | 44,653,864 | 37,479,358 | |
Derivative liabilities (Designated for hedging) | 0 | 0 | |
Total | 44,653,864 | 37,479,358 | |
Derivative Liabilities | |||
Disclosure of financial liabilities [line items] | |||
Financial liabilities at FVTPL | 4,567,268 | 6,459,887 | |
Financial liabilities designated at FVTPL | 0 | ||
Financial liabilities at amortised cost | 0 | 0 | |
Derivative liabilities (Designated for hedging) | 27,584 | 64,769 | |
Total | 4,594,852 | 6,524,656 | |
Other financial liabilities | |||
Disclosure of financial liabilities [line items] | |||
Financial liabilities at FVTPL | 0 | 0 | |
Financial liabilities designated at FVTPL | 0 | ||
Financial liabilities at amortised cost | 23,890,017 | 13,808,386 | |
Derivative liabilities (Designated for hedging) | 0 | 0 | |
Total | ₩ 23,890,017 | ₩ 13,808,386 |
Fair value of financial asset_9
Fair value of financial assets and liabilities - Income or expense from financial instruments by category (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Gains Losses On Financial Instruments [Line Items] | |||
Financial assets at FVTPL | ₩ 656,081 | ₩ 590,479 | ₩ 252,528 |
Financial assets at FVTOCI | 435,400 | 478,832 | 503,449 |
Securities at amortized cost | 324,256 | 383,922 | 437,755 |
Loans and other financial assets at amortized cost | 9,191,868 | 8,283,791 | 9,627,852 |
Financial liabilities at amortized cost | (2,899,387) | (3,516,023) | (4,682,722) |
Net derivatives (Designated for hedging) | 72,493 | (74,213) | 36,982 |
Total | 7,780,711 | 6,146,788 | 6,175,844 |
Interest Income(expense) | |||
Gains Losses On Financial Instruments [Line Items] | |||
Financial assets at FVTPL | 45,803 | 48,612 | 50,277 |
Financial assets at FVTOCI | 381,814 | 437,527 | 474,751 |
Securities at amortized cost | 324,920 | 382,988 | 436,340 |
Loans and other financial assets at amortized cost | 9,142,212 | 8,654,726 | 9,615,060 |
Financial liabilities at amortized cost | (2,901,592) | (3,516,023) | (4,682,722) |
Net derivatives (Designated for hedging) | 0 | 0 | 0 |
Total | 6,993,157 | 6,007,830 | 5,893,706 |
Fees and Commissions Income(expense) | |||
Gains Losses On Financial Instruments [Line Items] | |||
Financial assets at FVTPL | (156) | 0 | 89,817 |
Financial assets at FVTOCI | 1,343 | 311 | 0 |
Securities at amortized cost | 0 | 0 | 0 |
Loans and other financial assets at amortized cost | 494,296 | 376,872 | 296,435 |
Financial liabilities at amortized cost | 2,205 | 0 | 0 |
Net derivatives (Designated for hedging) | 0 | 0 | 0 |
Total | 497,688 | 377,183 | 386,252 |
Net reversal (provision) of allowance for credit losses | |||
Gains Losses On Financial Instruments [Line Items] | |||
Financial assets at FVTPL | 0 | 0 | 0 |
Financial assets at FVTOCI | (4,909) | (1,529) | (3,297) |
Securities at amortized cost | (664) | 934 | 1,415 |
Loans and other financial assets at amortized cost | (551,957) | (792,250) | (385,758) |
Financial liabilities at amortized cost | 0 | 0 | 0 |
Net derivatives (Designated for hedging) | 0 | 0 | 0 |
Total | (557,530) | (792,845) | (387,640) |
Gain or loss on transaction and valuation | |||
Gains Losses On Financial Instruments [Line Items] | |||
Financial assets at FVTPL | 325,751 | 421,709 | 25,455 |
Financial assets at FVTOCI | 32,624 | 24,138 | 11,015 |
Securities at amortized cost | 0 | 0 | 0 |
Loans and other financial assets at amortized cost | 107,317 | 44,443 | 102,115 |
Financial liabilities at amortized cost | 0 | 0 | 0 |
Net derivatives (Designated for hedging) | 72,493 | (74,213) | 36,982 |
Total | 538,185 | 416,077 | 175,567 |
Others | |||
Gains Losses On Financial Instruments [Line Items] | |||
Financial assets at FVTPL | 284,683 | 120,158 | 86,979 |
Financial assets at FVTOCI | 24,528 | 18,385 | 20,980 |
Securities at amortized cost | 0 | 0 | 0 |
Loans and other financial assets at amortized cost | 0 | 0 | 0 |
Financial liabilities at amortized cost | 0 | 0 | 0 |
Net derivatives (Designated for hedging) | 0 | 0 | 0 |
Total | ₩ 309,211 | ₩ 138,543 | ₩ 107,959 |
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 (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | ||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Book value of assets transferred | ₩ 414,069 | ₩ 639,721 | |
Financial assets at FVTPL | |||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Book value of assets transferred | 248,009 | 410,331 | |
Financial assets at FVTOCI | |||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Book value of assets transferred | 127,065 | 138,315 | |
Securities at amortized cost | |||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Book value of assets transferred | 38,995 | 40,987 | |
Loans and other financial assets at amortized cost | |||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Book value of assets transferred | 0 | 50,088 | |
Bonds sold under repurchase agreements | |||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Book value of assets transferred | ₩ 749,976 | ₩ 657,823 | |
Korean treasury and government bonds | |||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Nature of financial assets transferred during period which do not qualify for derecognition | Korea Securities Finance Corporation | Korea Securities Finance Corporation | |
Book value of assets transferred | ₩ 98,535 | ₩ 100,345 | |
Assets transferred | Financial assets at fair value through profit or loss, category [member] | |||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Book value of assets transferred | [1] | 151,930 | 156,900 |
Assets transferred | Loans At Amortized Costs [Member] | |||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Book value of assets transferred | [1] | 4,682,882 | 4,645,170 |
Related liabilities | Asset Backed Borrowings [Member] | |||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Book value of Related liabilities | [1] | 2,424,080 | 2,536,219 |
Related liabilities | Asset Backed Bonds [Member] | |||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Book value of Related liabilities | [1] | ₩ 978,274 | ₩ 1,289,992 |
[1] | The carrying amount is the amount before the allowance for bad debts. |
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 (₩) ₩ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
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 | ₩ 62,779,037 | ₩ 54,109,432 |
Gross amounts of recognized financial assets set off | 42,275,583 | 32,834,189 |
Net amounts of consolidate financial assets presented | 20,503,454 | 21,275,243 |
Related amounts not set off in the consolidated statement of financial position | ||
Netting agreements and others | 18,593,642 | 17,879,746 |
Cash collateral received and others | 552,071 | 598,545 |
Net amounts | 1,357,741 | 2,796,952 |
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 | 4,172,737 | 6,456,799 |
Gross amounts of recognized financial assets set off | 0 | |
Net amounts of consolidate financial assets presented | 4,172,737 | 6,456,799 |
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 | 5,915,304 | 3,153,919 |
Gross amounts of recognized financial assets set off | 0 | 0 |
Net amounts of consolidate financial assets presented | 5,915,304 | 3,153,919 |
Derivative assets and Receivable spot exchange | ||
Related amounts not set off in the consolidated statement of financial position | ||
Netting agreements and others | 8,260,784 | 7,733,997 |
Cash collateral received and others | 552,071 | 598,545 |
Net amounts | 1,275,186 | 1,278,176 |
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 | 10,332,858 | 10,145,749 |
Gross amounts of recognized financial assets set off | 0 | 0 |
Net amounts of consolidate financial assets presented | 10,332,858 | 10,145,749 |
Related amounts not set off in the consolidated statement of financial position | ||
Netting agreements and others | 10,332,858 | 10,145,749 |
Cash collateral received and others | 0 | 0 |
Net amounts | 0 | 0 |
Domestic exchange settlement debits | ||
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 | 42,358,138 | 34,352,965 |
Gross amounts of recognized financial assets set off | 42,275,583 | 32,834,189 |
Net amounts of consolidate financial assets presented | 82,555 | 1,518,776 |
Related amounts not set off in the consolidated statement of financial position | ||
Netting agreements and others | 0 | 0 |
Cash collateral received and others | 0 | 0 |
Net amounts | ₩ 82,555 | ₩ 1,518,776 |
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 (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
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 | ₩ 59,357,095 | ₩ 42,668,913 |
Gross amounts of recognized financial liabilities set off | 42,275,583 | 32,834,189 |
Net amounts of consolidate financial liabilities presented | 17,081,512 | 9,834,724 |
Related amounts not set off in the consolidated statement of financial position | ||
Netting agreements and others | 12,906,719 | 7,537,485 |
Cash collateral pledged and others | 114,716 | 921,803 |
Net amounts | 4,060,077 | 1,375,436 |
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 | 3,708,263 | 5,823,620 |
Gross amounts of recognized financial liabilities set off | 0 | 0 |
Net amounts of consolidate financial liabilities presented | 3,708,263 | 5,823,620 |
Related amounts not set off in the consolidated statement of financial position | ||
Netting agreements and others | 8,755,492 | |
Cash collateral pledged and others | 114,716 | 477,603 |
Net amounts | ₩ 754,855 | ₩ 1,371,364 |
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, with the right of offsetting. Items 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, with the right of offsetting. Items 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. |
Equity-linked securities 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 | ₩ 19,630 | |
Gross amounts of recognized financial liabilities set off | 0 | |
Net amounts of consolidate financial liabilities presented | ₩ 19,630 | |
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, with the right of offsetting. Items 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, with the right of offsetting. Items 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 | ₩ 5,916,800 | ₩ 3,153,400 |
Gross amounts of recognized financial liabilities set off | 0 | 0 |
Net amounts of consolidate financial liabilities presented | ₩ 5,916,800 | ₩ 3,153,400 |
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, with the right of offsetting. Items 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, with the right of offsetting. Items 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 | ₩ 7,147,683 | |
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 | ₩ 749,976 | 657,823 |
Gross amounts of recognized financial liabilities set off | 0 | 0 |
Net amounts of consolidate financial liabilities presented | 749,976 | 657,823 |
Related amounts not set off in the consolidated statement of financial position | ||
Netting agreements and others | 749,976 | 213,623 |
Cash collateral pledged and others | 0 | 444,200 |
Net amounts | ₩ 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 Group under the repurchase agreements has an offsetting right only upon the counterparty’s default, insolvency or bankruptcy; thus, the repurchase agreements are applied by the TBMA/ISMA Global MasterRepurchase Agreement, which does not satisfy the offsetting criteria of IAS 32. The Group disclosed bonds sold under repurchase agreements as borrowings and bonds purchased under resale agreements as loan at amortized cost and other financial assets. | 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 Group under the repurchase agreements has an offsetting right only upon the counterparty’s default, insolvency or bankruptcy; thus, the repurchase agreements are applied by the TBMA/ISMA Global MasterRepurchase Agreement, which does not satisfy the offsetting criteria of IAS 32. The Group disclosed bonds sold under repurchase agreements as borrowings and bonds purchased under resale agreements as loan at amortized cost and other financial assets. |
Domestic exchanges settlement credits | ||
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 | ₩ 48,982,056 | ₩ 33,014,440 |
Gross amounts of recognized financial liabilities set off | 42,275,583 | 32,834,189 |
Net amounts of consolidate financial liabilities presented | 6,706,473 | 180,251 |
Related amounts not set off in the consolidated statement of financial position | ||
Netting agreements and others | 3,401,251 | 176,179 |
Cash collateral pledged and others | 0 | 0 |
Net amounts | ₩ 3,305,222 | ₩ 4,072 |
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 offset with part of unpaid domestic exchange payables or uncollected domestic exchange receivables and has been disclosed in loans at amortized cost and other financial assets and other financial liabilities of the Group’s statements of financial position respectively. | 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 payables or uncollected domestic exchange receivables and has been disclosed in loans at amortized cost and other financial assets and other financial liabilities of the Group’s statements of financial position respectively. |
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) | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Location | Korea | ||||
Description of whether investment in associate is measured using equity method or at fair value | WooriG Oncorp Corporate support of Major Industry General Type Private Placement Investment Trust (Type 2) and other 16 joint ventures and associates can exercise significant influence but was classified as an item measured at fair value through profit or loss. | ||||
NK Eng Co., Ltd. | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Manufacturing | Manufacturing | |||
Percentage of ownership | 23.10% | 23.10% | |||
Location | Korea | Korea | |||
Financial statements as of | 0 | ||||
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2020 and 2021. | There is no investment balance as of December 31, 2020 and 2021. | |||
Reading Doctors Co., Ltd. | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Other services | Other services | |||
Percentage of ownership | 35.40% | 35.40% | |||
Location | Korea | Korea | |||
Financial statements as of | 0 | ||||
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2020 and 2021. | There is no investment balance as of December 31, 2020 and 2021. | |||
Cultizm Korea LTD Co., Ltd. | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Wholesale and retail sales | Wholesale and retail sales | |||
Percentage of ownership | 31.30% | 31.30% | |||
Location | Korea | Korea | |||
Financial statements as of | 0 | ||||
Korea Finance Security Co., Ltd. | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Security service | Security service | |||
Percentage of ownership | 15.00% | 15.00% | 15.00% | ||
Location | Korea | Korea | |||
Financial statements as of | 2021.11.30 | ||||
Description of reason why using different reporting date or period for associate | The equity method was applied using the most recent financial statements available from the settlement date because no financial statements were available at the end of December and the significant transactions or events that occurred between the end of the reporting period of the associate and the end of the reporting period of the subsidiary were duly reflected. | ||||
Sinseong Trading Co., Ltd. | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Manufacturing | Manufacturing | |||
Percentage of ownership | 0.00% | 27.90% | |||
Location | Korea | Korea | |||
Financial statements as of | 0 | ||||
W Service Networks Co., Ltd. | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Freight & staffing services | Freight & staffing services | |||
Percentage of ownership | 4.90% | 4.90% | 4.90% | ||
Location | Korea | Korea | |||
Financial statements as of | 2021.11.30 | ||||
Description of reason why using different reporting date or period for associate | The equity method was applied using the most recent financial statements available from the settlement date because no financial statements were available at the end of December and the significant transactions or events that occurred between the end of the reporting period of the associate and the end of the reporting period of the subsidiary were duly reflected. | ||||
Description of nature of entity's relationship with associate | Most of the significant business transactions of associates are with the Group as of December 31, 2020 and 2021. | Most of the significant business transactions of associates are with the Group as of December 31, 2020 and 2021. | |||
Korea Credit Bureau Co., Ltd. | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Credit information | Credit information | |||
Percentage of ownership | 9.90% | 9.90% | 9.90% | ||
Location | Korea | Korea | |||
Financial statements as of | [1] | 2021.12.31 | |||
Description of reasons why presumption that interest of less than twenty per cent in associate is overcome | The Group can participate in decision-making body and exercise significant influence over financial policies and operational policies decision making of the associates. | The Group can participate in decision-making body and exercise significant influence over financial policies and operational policies decision making of the associates. | |||
Wongwang Co., Ltd. | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Wholesale and real estate | Wholesale and real estate | |||
Percentage of ownership | 29.00% | 29.00% | |||
Location | Korea | Korea | |||
Financial statements as of | 0 | ||||
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2020 and 2021. | There is no investment balance as of December 31, 2020 and 2021. | |||
ARES-TECH Co., Ltd. | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Electronic component manufacturing | Electronic component manufacturing | |||
Percentage of ownership | 23.40% | 23.40% | |||
Location | Korea | Korea | |||
Financial statements as of | 0 | ||||
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2020 and 2021. | There is no investment balance as of December 31, 2020 and 2021. | |||
Sejin construction Co., Ltd. | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Construction | Construction | |||
Percentage of ownership | 29.60% | 29.60% | |||
Location | Korea | Korea | |||
Financial statements as of | 0 | ||||
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2020 and 2021. | There is no investment balance as of December 31, 2020 and 2021. | |||
Beomgyo., Ltd. | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Telecommunication equipment retail sales | Telecommunication equipment retail sales | |||
Percentage of ownership | 23.10% | 23.10% | |||
Location | Korea | Korea | |||
Financial statements as of | 0 | ||||
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2020 and 2021. | There is no investment balance as of December 31, 2020 and 2021. | |||
Smart Private Equity Fund No.2 | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 0.00% | 20.00% | 20.00% | ||
Location | Korea | Korea | |||
Financial statements as of | 0 | ||||
K BANK Co., Ltd. | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Finance | Finance | |||
Percentage of ownership | 12.60% | 26.20% | 14.50% | ||
Location | Korea | Korea | |||
Financial statements as of | [1] | 2021.11.30 | |||
Description of reason why using different reporting date or period for associate | The equity method was applied using the most recent financial statements available from the settlement date because no financial statements were available at the end of December and the significant transactions or events that occurred between the end of the reporting period of the associate and the end of the reporting period of the subsidiary were duly reflected. | ||||
Partner One Value Up I Private Equity Fund | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 23.30% | 23.30% | 23.30% | ||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
Well to Sea No.3 Private Equity Fund | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Finance | Finance | |||
Percentage of ownership | 0.00% | 50.00% | 50.00% | ||
Location | Korea | Korea | |||
Financial statements as of | 0 | ||||
Description of reason why using different reporting date or period for associate | The equity method was applied using the most recent financial statements available from the settlement date because no financial statements were available at the end of December and the significant transactions or events that occurred between the end of the reporting period of the associate and the end of the reporting period of the subsidiary were duly reflected. | ||||
2016KIF-IMM Woori Bank Technology Venture Fund | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 20.00% | 20.00% | 20.00% | ||
Location | Korea | ||||
Financial statements as of | 2021.12.31 | ||||
Woori Bank-Company K Korea Movie Asset Fund | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 25.00% | 25.00% | 25.00% | ||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.16 | ||||
Woori Growth Partnerships New Technology Private Equity Fund | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 23.10% | 23.10% | 23.10% | ||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
LOTTE CARD Co., Ltd. | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Credit card and installment financing | Credit card and installment financing | |||
Percentage of ownership | 20.00% | 20.00% | 20.00% | ||
Location | Korea | Korea | |||
Financial statements as of | 2021.9.30 | ||||
Description of reason why using different reporting date or period for associate | The equity method was applied using the most recent financial statements available from the settlement date because no financial statements were available at the end of December and the significant transactions or events that occurred between the end of the reporting period of the associate and the end of the reporting period of the subsidiary were duly reflected. | ||||
Together-Korea Government Private Pool Private Securities Investment Trust No.3 | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 100.00% | 100.00% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 20.00% | 20.00% | 20.00% | ||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
Genesis Environmental Energy Company 1st Private Equity Fund | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Trust and collective investment | Trust and collective investment | |||
Percentage of ownership | 24.80% | 24.80% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 25.00% | 25.00% | 25.00% | ||
Location | Korea | Korea | |||
Financial statements as of | [1] | 2021.12.31 | |||
Union Technology Finance Investment Association | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Trust and collective investment | Trust and collective investment | |||
Percentage of ownership | 29.70% | 29.70% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
Woori G Clean Energy No.1 | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Investment trust and discretionary investment business | Investment trust and discretionary investment business | |||
Percentage of ownership | 0.00% | 29.30% | |||
Location | Korea | Korea | |||
Financial statements as of | 0 | ||||
Description of reasons why presumption that interest of less than twenty per cent in associate is overcome | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | |||
Japanese Hotel Real Estate Private Equity Fund No. 2 | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 19.90% | 19.90% | 19.90% | ||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
Description of reasons why presumption that interest of less than twenty per cent in associate is overcome | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | |||
Dicustody Co., Ltd [Member] | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Other information technology and computer operation related services | Other information technology and computer operation related services | |||
Percentage of ownership | 1.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
Woori Goseong Power EBL Private Special Asset Fund | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Trust and collective investment | Trust and collective investment | |||
Percentage of ownership | 0.00% | 16.70% | |||
Location | Korea | Korea | |||
Financial statements as of | 0 | ||||
Description of reasons why presumption that interest of less than twenty per cent in associate is overcome | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | |||
Woori Seoul Beltway Private Special Asset Fund No.1 | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | Woori Bank | |||
Main business | Trust and collective investment | Trust and collective investment | |||
Percentage of ownership | 25.00% | 25.00% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
Woori MultiReturn Securities Investment Trust 3 (Balanced Bond) | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | ||||
Main business | Collective investment business | Collective investment business | |||
Percentage of ownership | 20.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
Woori Short-term Bond Securities Investment Trust (Bond) ClassC-F | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank | ||||
Main business | Collective investment business | Collective investment business | |||
Percentage of ownership | 14.50% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
WOORI TAERIM 1st Fund | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Financial Capital Co., Ltd. | Woori Financial Capital Co., Ltd. | |||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 25.60% | 25.60% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
PortoneCape Fund No.1 | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Financial Capital Co., Ltd. | Woori Financial Capital Co., Ltd. | |||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 20.00% | 20.00% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
KIWOOM WOORI Financial 1st Fund | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Financial Capital Co., Ltd. | Woori Financial Capital Co., Ltd. | |||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 9.10% | 9.10% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
Description of reasons why presumption that interest of less than twenty per cent in associate is overcome | The Group can participate as a co-operator to exert significant influence. | The Group can participate as a co-operator to exert significant influence. | |||
DeepDive WOORI 20211 Financial Investment Fund | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Financial Capital Co., Ltd. | Woori Financial Capital Co., Ltd. | |||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 11.90% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
Darwin Green Packaging Private Equity Fund | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Financial Capital Co., Ltd. | Woori Financial Capital Co., Ltd. | |||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 20.40% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
Woori FirstValue Private Real Estate Fund No.2 | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | [2] | Woori Investment Bank Co., Ltd. | Woori Investment Bank Co., Ltd. | ||
Main business | Real estate business | Real estate business | |||
Percentage of ownership | 12.00% | 12.00% | |||
Location | Korea | ||||
Financial statements as of | 2021.12.31 | ||||
Description of reasons why presumption that interest of less than twenty per cent in associate is overcome | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | |||
WooriG Real Infrastructure Blind General Type Private Placement Investment Trust [Member] | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Investment Bank Co., Ltd. | Woori Investment Bank Co., Ltd. | |||
Main business | Investment trust and discretionary investment business | Investment trust and discretionary investment business | |||
Percentage of ownership | 0.30% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
Description of reasons why presumption that interest of less than twenty per cent in associate is overcome | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | |||
Woori High plus G.B. Securities Feeder Fund1(G.B.) | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Asset Management Co. Ltd. | Woori Asset Management Co. Ltd. | |||
Main business | Collective investment business | Collective investment business | |||
Percentage of ownership | 0.00% | 21.80% | |||
Location | Korea | Korea | |||
Financial statements as of | 0 | ||||
Woori Star50 Master Fund ClassC-F | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Asset Management Co. Ltd. | Woori Asset Management Co. Ltd. | |||
Main business | Collective investment business | Collective investment business | |||
Percentage of ownership | 0.00% | 24.50% | |||
Location | Korea | Korea | |||
Financial statements as of | 0 | ||||
Woori Hanhwa Eureka Private Equity Fund | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Private Equity Asset Management Co., Ltd. | Woori Private Equity Asset Management Co., Ltd. | |||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 0.80% | 0.80% | 0.80% | ||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
Aarden Woori Apparel 1st Private Equity Fund | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Private Equity Asset Management Co., Ltd. | Woori Private Equity Asset Management Co., Ltd. | |||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 0.50% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
Godo Kaisha Oceanos 1 | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Japanese Hotel Real Estate Private Equity Fund 1 | Japanese Hotel Real Estate Private Equity Fund 1 | |||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 47.80% | 47.80% | 47.80% | ||
Location | Japan | Japan | |||
Financial statements as of | [1] | 2021.10.31 | |||
Description of reason why using different reporting date or period for associate | The equity method was applied using the most recent financial statements available from the settlement date because no financial statements were available at the end of December and the significant transactions or events that occurred between the end of the reporting period of the associate and the end of the reporting period of the subsidiary were duly reflected. | ||||
Woori Zip 1 | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori G Japan Private Placement Real Estate Master Investment Trust No.2 | Woori G Japan Private Placement Real Estate Master Investment Trust No.2 | |||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 63.90% | 0.00% | |||
Location | Japan | Japan | |||
Financial statements as of | 2021.9.30 | ||||
Woori Zip 2 | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori G Japan Private Placement Real Estate Master Investment Trust No.2 | Woori G Japan Private Placement Real Estate Master Investment Trust No.2 | |||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 63.80% | 0.00% | |||
Location | Japan | Japan | |||
Financial statements as of | 2021.9.30 | ||||
Dongwoo C C Co., Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori bank and Woori card Co., Ltd. | Woori bank and Woori card Co., Ltd. | |||
Main business | Construction | Construction | |||
Percentage of ownership | 24.50% | 24.50% | |||
Location | Korea | Korea | |||
Financial statements as of | 0 | ||||
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2020 and 2021. | There is no investment balance as of December 31, 2020 and 2021. | |||
SJCO Co., Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori bank and Woori card Co., Ltd. | Woori bank and Woori card Co., Ltd. | |||
Main business | Aggregate transportation and wholesale | Aggregate transportation and wholesale | |||
Percentage of ownership | 29.70% | 28.70% | |||
Location | Korea | Korea | |||
Financial statements as of | 0 | ||||
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2020 and 2021. | There is no investment balance as of December 31, 2020 and 2021. | |||
G2 Collection Co., Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori bank and Woori card Co., Ltd. | Woori bank and Woori card Co., Ltd. | |||
Main business | Wholesale and retail sales | Wholesale and retail sales | |||
Percentage of ownership | 29.20% | 29.20% | |||
Location | Korea | Korea | |||
Financial statements as of | 0 | ||||
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2020 and 2021. | There is no investment balance as of December 31, 2020 and 2021. | |||
The Base Enterprise Co., Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori bank and Woori card Co., Ltd. | Woori bank and Woori card Co., Ltd. | |||
Main business | Manufacturing | Manufacturing | |||
Percentage of ownership | 48.40% | 48.40% | |||
Location | Korea | Korea | |||
Financial statements as of | 0 | ||||
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2020 and 2021. | There is no investment balance as of December 31, 2020 and 2021. | |||
Kyesan Engineering Co., Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori bank and Woori card Co., Ltd. | Woori bank and Woori card Co., Ltd. | |||
Main business | Construction | Construction | |||
Percentage of ownership | 23.30% | 23.30% | |||
Location | Korea | Korea | |||
Financial statements as of | 0 | ||||
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2020 and 2021. | There is no investment balance as of December 31, 2020 and 2021. | |||
Good Software Lap Co., Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori bank and Woori card Co., Ltd. | Woori bank and Woori card Co., Ltd. | |||
Main business | Service | Service | |||
Percentage of ownership | 29.40% | 29.40% | |||
Location | Korea | Korea | |||
Financial statements as of | 0 | ||||
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2020 and 2021. | There is no investment balance as of December 31, 2020 and 2021. | |||
QTS Shipping Co., Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori bank and Woori card Co., Ltd. | Woori bank and Woori card Co., Ltd. | |||
Main business | Complex transportation brokerage | Complex transportation brokerage | |||
Percentage of ownership | 49.80% | 49.80% | |||
Location | Korea | Korea | |||
Financial statements as of | 0 | ||||
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2020 and 2021. | There is no investment balance as of December 31, 2020 and 2021. | |||
DAEA SNC Co., Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori bank and Woori card Co., Ltd. | Woori bank and Woori card Co., Ltd. | |||
Main business | Wholesale and retail sales | Wholesale and retail sales | |||
Percentage of ownership | 25.50% | 25.50% | |||
Location | Korea | Korea | |||
Financial statements as of | 0 | ||||
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2020 and 2021. | There is no investment balance as of December 31, 2020 and 2021. | |||
Force TEC Co., Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori bank and Woori card Co., Ltd. | Woori bank and Woori card Co., Ltd. | |||
Main business | Manufacturing | Manufacturing | |||
Percentage of ownership | 24.50% | 25.80% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.9.30 | ||||
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2020 and 2021. | There is no investment balance as of December 31, 2020 and 2021. | |||
PREXCO Co., Ltd. | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori bank and Woori card Co., Ltd. | Woori bank and Woori card Co., Ltd. | |||
Main business | Manufacturing | Manufacturing | |||
Percentage of ownership | 28.10% | 28.10% | |||
Location | Korea | Korea | |||
Financial statements as of | 0 | ||||
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2020 and 2021. | There is no investment balance as of December 31, 2020 and 2021. | |||
JiWon Plating Co., Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori bank and Woori card Co., Ltd. | Woori bank and Woori card Co., Ltd. | |||
Main business | Plating | Plating | |||
Percentage of ownership | 20.80% | 20.80% | |||
Location | Korea | Korea | |||
Financial statements as of | 0 | ||||
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2020 and 2021. | There is no investment balance as of December 31, 2020 and 2021. | |||
Youngdong Sea Food Co., Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori bank and Woori card Co., Ltd. | Woori bank and Woori card Co., Ltd. | |||
Main business | Processed sea food manufacturing | Processed sea food manufacturing | |||
Percentage of ownership | 24.50% | 24.50% | |||
Location | Korea | Korea | |||
Financial statements as of | 0 | ||||
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2020 and 2021. | There is no investment balance as of December 31, 2020 and 2021. | |||
KUM HWA Co., Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori bank and Woori card Co., Ltd. | Woori bank and Woori card Co., Ltd. | |||
Main business | Telecommunication equipment retail sales | Telecommunication equipment retail sales | |||
Percentage of ownership | 20.10% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.9.30 | ||||
Jinmyung Plus Co., Ltd | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori bank and Woori card Co., Ltd. | Woori bank and Woori card Co., Ltd. | |||
Main business | Manufacturing | Manufacturing | |||
Percentage of ownership | 21.30% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
JC Assurance No.2 Private Equity Fund [Member] | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | [2] | Woori bank and Woori Financial Capital Co., Ltd. | Woori bank and Woori Financial Capital Co., Ltd. | ||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 24.40% | 29.30% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
Description of reasons why presumption that interest of less than twenty per cent in associate is overcome | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | |||
Dream Company Growth no.1 PEF | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | [2] | Woori bank and Woori Financial Capital Co., Ltd. | Woori bank and Woori Financial Capital Co., Ltd. | ||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 27.80% | 27.80% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
Description of reasons why presumption that interest of less than twenty per cent in associate is overcome | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | |||
HMS-Oriens 1st Fund | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | [2] | Woori bank and Woori Financial Capital Co., Ltd. | Woori bank and Woori Financial Capital Co., Ltd. | ||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 22.80% | 22.80% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
Description of reasons why presumption that interest of less than twenty per cent in associate is overcome | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | |||
Woori G Senior Loan Private Placement Investment Trust No.1 | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | [2] | Woori bank and Woori Financial Capital Co., Ltd. | Woori bank and Woori Financial Capital Co., Ltd. | ||
Main business | Collective investment business | Collective investment business | |||
Percentage of ownership | 21.70% | 21.70% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
Description of reasons why presumption that interest of less than twenty per cent in associate is overcome | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | |||
Genesis Eco No.1 Private Equity Fund | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori bank and Woori Financial Capital Co., Ltd. | Woori bank and Woori Financial Capital Co., Ltd. | |||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 29.00% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
Description of reasons why presumption that interest of less than twenty per cent in associate is overcome | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | |||
Paratus Woori Material Component Equipment joint venture company [Member] | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori bank and Woori Financial Capital Co., Ltd. | Woori bank and Woori Financial Capital Co., Ltd. | |||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 29.90% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.9.30 | ||||
Description of reasons why presumption that interest of less than twenty per cent in associate is overcome | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | |||
Midas No. 8 Private Equity Joint Venture Company | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori bank and Woori Financial Capital Co., Ltd. | Woori bank and Woori Financial Capital Co., Ltd. | |||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 28.50% | 0.00% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
Description of reasons why presumption that interest of less than twenty per cent in associate is overcome | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | |||
PCCWoori LP Secondary Fund [Member] | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank and Woori Investment Bank Co., Ltd. | Woori Bank and Woori Investment Bank Co., Ltd. | |||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 38.80% | 38.80% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
Description of reasons why presumption that interest of less than twenty per cent in associate is overcome | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | |||
Woori High Plus Shortterm High Graded ESG Bond Sec Feeder Inv Trust 1 [Member] | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori bank and Woori Asset Management Co., Ltd. | Woori bank and Woori Asset Management Co., Ltd. | |||
Main business | Collective investment business | Collective investment business | |||
Percentage of ownership | 27.50% | 23.30% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
Description of reasons why presumption that interest of less than twenty per cent in associate is overcome | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | |||
Woori-Q Corporate Restructuring Private Equity Fund | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank and Woori Private Equity Asset Management Co., Ltd. | Woori Bank and Woori Private Equity Asset Management Co., Ltd. | |||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 38.10% | 38.40% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
Description of reasons why presumption that interest of less than twenty per cent in associate is overcome | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | |||
WooriShinyoung GrowthCap Private Equity Fund I | |||||
Disclosure of investments in associates and joint ventures [Line Items] | |||||
Investor | Woori Bank, Woori Financial Capital Co., Ltd., Woori Investment Bank Co., Ltd. and Woori Private Equity Asset Management Co., Ltd. | Woori Bank, Woori Financial Capital Co., Ltd., Woori Investment Bank Co., Ltd. and Woori Private Equity Asset Management Co., Ltd. | |||
Main business | Other financial services | Other financial services | |||
Percentage of ownership | 35.00% | 35.00% | |||
Location | Korea | Korea | |||
Financial statements as of | 2021.12.31 | ||||
Description of reasons why presumption that interest of less than twenty per cent in associate is overcome | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. | |||
[1] | The equity method was applied using the most recent financial statements available from the settlement date because no financial statements were available at the end of December and the significant transactions or events that occurred between the end of the reporting period of the associate and the end of the reporting period of the subsidiary were duly reflected. | ||||
[2] | Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process for activities related to the investee. |
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, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | Dec. 31, 2019KRW (₩) | |
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | ₩ 993,291 | ₩ 806,360 | ₩ 361,766 | |
Acquisition cost | 1,210,083 | 974,968 | 759,368 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 132,228 | 101,077 | 83,997 | |
Acquisition | 400,172 | 552,368 | 389,096 | |
Disposal/Reclassification | (165,042) | (274,498) | (10,856) | |
Dividends | (30,791) | (187,306) | (19,242) | |
Business combination | 1,249 | |||
Change in capital | 5,309 | (5,959) | 1,599 | |
Ending | 1,335,167 | $ 1,123,311 | 993,291 | 806,360 |
Changes in investments in associates due to accounts transfer | 70,120 | |||
W Service Networks Co., Ltd. | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 191 | 186 | 157 | |
Acquisition cost | 108 | 108 | 108 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | (4) | 7 | 31 | |
Acquisition | 0 | 0 | 0 | |
Disposal/Reclassification | 0 | 0 | 0 | |
Dividends | (4) | (3) | (2) | |
Business combination | 0 | |||
Change in capital | 0 | 1 | 0 | |
Ending | 183 | 191 | 186 | |
Korea Credit Bureau Co., Ltd. | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 8,125 | 6,845 | 6,790 | |
Acquisition cost | 3,313 | 3,313 | 3,313 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 1,388 | 1,370 | 190 | |
Acquisition | 0 | 0 | 0 | |
Disposal/Reclassification | 0 | 0 | 0 | |
Dividends | (90) | (90) | (135) | |
Business combination | 0 | |||
Change in capital | 0 | 0 | 0 | |
Ending | 9,423 | 8,125 | 6,845 | |
Korea Finance Security Co., Ltd. | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 3,066 | 3,287 | 3,456 | |
Acquisition cost | 3,267 | 3,267 | 3,267 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 35 | (221) | (169) | |
Acquisition | 0 | 0 | 0 | |
Disposal/Reclassification | 0 | 0 | 0 | |
Dividends | 0 | 0 | 0 | |
Business combination | 0 | |||
Change in capital | 0 | 0 | 0 | |
Ending | 3,101 | 3,066 | 3,287 | |
Chin Hung International Inc. | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 0 | 51,176 | 44,741 | |
Acquisition cost | 0 | 130,779 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | (742) | 6,426 | ||
Acquisition | 0 | 0 | ||
Disposal/Reclassification | (50,411) | 0 | ||
Dividends | 0 | 0 | ||
Business combination | 0 | |||
Change in capital | (23) | 9 | ||
Ending | 0 | 51,176 | ||
Saman Corporation | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 0 | 849 | 1,014 | |
Acquisition cost | 0 | 8,521 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | (432) | (198) | ||
Acquisition | 0 | 0 | ||
Disposal/Reclassification | (466) | 0 | ||
Dividends | 0 | 0 | ||
Business combination | 0 | |||
Change in capital | 49 | 33 | ||
Ending | 0 | 849 | ||
Woori Growth Partnerships New Technology Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 15,032 | 19,212 | 25,091 | |
Acquisition cost | 14,991 | 16,938 | 18,666 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | (637) | (2,240) | 1,466 | |
Acquisition | 0 | 0 | 309 | |
Disposal/Reclassification | (1,947) | (1,728) | (7,490) | |
Dividends | 0 | (212) | (164) | |
Business combination | 0 | |||
Change in capital | 0 | 0 | 0 | |
Ending | 12,448 | 15,032 | 19,212 | |
2016KIF-IMM Woori Bank Technology Venture Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 13,238 | 15,141 | 15,300 | |
Acquisition cost | 8,396 | 11,893 | 12,385 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 3,520 | 1,240 | 1,193 | |
Acquisition | 0 | 0 | 0 | |
Disposal/Reclassification | (3,497) | (492) | (2,615) | |
Dividends | (631) | (1,088) | 0 | |
Business combination | 0 | |||
Change in capital | 0 | (1,563) | 1,263 | |
Ending | 12,630 | 13,238 | 15,141 | |
K BANK Co., Ltd. | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 174,097 | 31,254 | 43,709 | |
Acquisition cost | 236,232 | 236,232 | 73,150 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 67,553 | (18,334) | (18,233) | |
Acquisition | 0 | 163,082 | 5,807 | |
Disposal/Reclassification | 0 | 0 | 0 | |
Dividends | 0 | 0 | 0 | |
Business combination | 0 | |||
Change in capital | (2,157) | (1,905) | (29) | |
Ending | 239,493 | 174,097 | 31,254 | |
Smart Private Equity Fund No.2 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 1,481 | 2,764 | 2,890 | |
Acquisition cost | 0 | 2,915 | 2,915 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | (797) | (1,283) | (41) | |
Acquisition | 0 | 0 | 0 | |
Disposal/Reclassification | (684) | 0 | (85) | |
Dividends | 0 | 0 | 0 | |
Business combination | 0 | |||
Change in capital | 0 | 0 | 0 | |
Ending | 0 | 1,481 | 2,764 | |
Woori Bank-Company K Korea Movie Asset Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 2,788 | 3,323 | 2,700 | |
Acquisition cost | 0 | 2,100 | 3,000 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 137 | 365 | 623 | |
Acquisition | 0 | 0 | 0 | |
Disposal/Reclassification | (2,100) | (900) | 0 | |
Dividends | (480) | 0 | 0 | |
Business combination | 0 | |||
Change in capital | 0 | 0 | 0 | |
Ending | 345 | 2,788 | 3,323 | |
Well to Sea No.3 Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 0 | 209,023 | 197,393 | |
Acquisition cost | 0 | 101,483 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 87,180 | 30,343 | ||
Acquisition | 0 | 0 | ||
Disposal/Reclassification | (117,170) | 0 | ||
Dividends | (178,355) | (18,836) | ||
Business combination | 0 | |||
Change in capital | (678) | 123 | ||
Ending | 0 | 209,023 | ||
Partner One Value Up I Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 9,816 | 9,908 | 9,948 | |
Acquisition cost | 5,039 | 10,000 | 10,000 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 2,521 | (75) | (40) | |
Acquisition | 0 | 0 | 0 | |
Disposal/Reclassification | (4,961) | 0 | 0 | |
Dividends | (800) | 0 | 0 | |
Business combination | 0 | |||
Change in capital | 0 | (17) | 0 | |
Ending | 6,576 | 9,816 | 9,908 | |
IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 9,756 | 4,576 | 4,426 | |
Acquisition cost | 9,736 | 9,756 | 4,576 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 1,417 | 0 | 0 | |
Acquisition | 5,040 | 5,720 | 150 | |
Disposal/Reclassification | (5,060) | (540) | 0 | |
Dividends | 0 | 0 | 0 | |
Business combination | 0 | |||
Change in capital | 0 | 0 | 0 | |
Ending | 11,153 | 9,756 | 4,576 | |
Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 4,129 | 4,375 | 3,025 | |
Acquisition cost | 4,255 | 4,130 | 4,375 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 0 | 0 | 0 | |
Acquisition | 125 | 75 | 1,350 | |
Disposal/Reclassification | 0 | (321) | 0 | |
Dividends | 0 | 0 | 0 | |
Business combination | 0 | |||
Change in capital | 0 | 0 | 0 | |
Ending | 4,254 | 4,129 | 4,375 | |
Nomura-Rifa Private Real Estate Investment Trust No.17 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 0 | 787 | ||
Acquisition cost | 1,000 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | (136) | |||
Acquisition | 0 | |||
Disposal/Reclassification | (651) | |||
Dividends | 0 | |||
Change in capital | 0 | |||
Ending | 0 | |||
Woori-Shinyoung Growth-Cap Private Equity Fund 1 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 38,342 | 11,841 | 0 | |
Acquisition cost | 17,218 | 32,480 | 12,665 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 20,813 | 7,366 | (824) | |
Acquisition | 12,799 | 31,363 | 12,665 | |
Disposal/Reclassification | (32,415) | (12,124) | 0 | |
Dividends | (10,826) | (104) | 0 | |
Business combination | 0 | |||
Change in capital | 0 | 0 | 0 | |
Ending | 28,713 | 38,342 | 11,841 | |
LOTTE CARD Co., Ltd. | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 422,832 | 409,444 | 0 | |
Acquisition cost | 346,810 | 346,810 | 346,000 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 39,301 | 19,692 | 63,444 | |
Acquisition | 0 | 810 | 346,000 | |
Disposal/Reclassification | 0 | 0 | 0 | |
Dividends | (10,374) | (5,710) | 0 | |
Business combination | 0 | |||
Change in capital | 6,536 | (1,404) | 0 | |
Ending | 458,295 | 422,832 | 409,444 | |
Woori-Q Corporate Restructuring Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 22,904 | 6,046 | 0 | |
Acquisition cost | 45,394 | 23,146 | 6,129 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 1,002 | (159) | (83) | |
Acquisition | 25,246 | 17,017 | 6,129 | |
Disposal/Reclassification | (2,997) | 0 | 0 | |
Dividends | 0 | 0 | 0 | |
Business combination | 0 | |||
Change in capital | 0 | 0 | 0 | |
Ending | 46,155 | 22,904 | 6,046 | |
PCC-Woori LP Secondary Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 8,128 | 2,525 | 0 | |
Acquisition cost | 10,100 | 7,575 | 2,525 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 1,697 | 554 | 0 | |
Acquisition | 2,525 | 5,049 | 2,525 | |
Disposal/Reclassification | 0 | 0 | 0 | |
Dividends | 0 | 0 | 0 | |
Business combination | 0 | |||
Change in capital | 0 | 0 | 0 | |
Ending | 12,350 | 8,128 | 2,525 | |
Force TEC Co., Ltd. | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 393 | 0 | ||
Acquisition cost | 0 | 0 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | (393) | 1,542 | ||
Acquisition | 0 | 0 | ||
Disposal/Reclassification | 0 | 0 | ||
Dividends | 0 | 0 | ||
Business combination | 0 | |||
Change in capital | 0 | (1,149) | ||
Ending | 0 | 393 | 0 | |
Changes in investments in associates due to accounts transfer | 797 | |||
Together-Korea Government Private Pool Private Securities Investment Trust No.3 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 10,023 | 0 | ||
Acquisition cost | 10,000 | 10,000 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 47 | 23 | ||
Acquisition | 0 | 100,000 | ||
Disposal/Reclassification | 0 | (90,000) | ||
Dividends | 0 | 0 | ||
Business combination | 0 | |||
Change in capital | 0 | 0 | ||
Ending | 10,070 | 10,023 | 0 | |
Genesis Environmental Energy Company 1st Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 3,979 | 0 | ||
Acquisition cost | 3,738 | 3,738 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 147 | 241 | ||
Acquisition | 0 | 4,084 | ||
Disposal/Reclassification | 0 | (346) | ||
Dividends | 0 | 0 | ||
Business combination | 0 | |||
Change in capital | 0 | 0 | ||
Ending | 4,126 | 3,979 | 0 | |
Union Technology Finance Investment Association | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 4,485 | 0 | ||
Acquisition cost | 12,750 | 4,500 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | (347) | (15) | ||
Acquisition | 8,250 | 4,500 | ||
Disposal/Reclassification | 0 | 0 | ||
Dividends | 0 | 0 | ||
Business combination | 0 | |||
Change in capital | 0 | 0 | ||
Ending | 12,388 | 4,485 | 0 | |
Godo Kaisha Oceanos 1 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 10,193 | 10,952 | 0 | |
Acquisition cost | 10,800 | 10,800 | 10,870 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 127 | 7 | 2 | |
Acquisition | 0 | 0 | 10,870 | |
Disposal/Reclassification | 0 | 0 | (15) | |
Dividends | (370) | (850) | (105) | |
Business combination | 0 | |||
Change in capital | (45) | 84 | 200 | |
Ending | 9,905 | 10,193 | 10,952 | |
Japanese Hotel Real Estate Private Equity Fund No.2 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 3,234 | 3,291 | 0 | |
Acquisition cost | 3,291 | 3,291 | 3,291 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 237 | 283 | 0 | |
Acquisition | 0 | 0 | 3,291 | |
Disposal/Reclassification | 0 | 0 | 0 | |
Dividends | (201) | (154) | 0 | |
Business combination | 0 | |||
Change in capital | (74) | (186) | 0 | |
Ending | 3,196 | 3,234 | 3,291 | |
Woori High plus G.B. Securities Feeder Fund1(G.B.) | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 6,076 | 0 | ||
Acquisition cost | 0 | 6,000 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 0 | 49 | ||
Acquisition | 0 | 6,141 | ||
Disposal/Reclassification | (6,076) | 0 | ||
Dividends | 0 | 0 | ||
Business combination | 0 | |||
Change in capital | 0 | (114) | ||
Ending | 0 | 6,076 | 0 | |
Woori G Clean Energy No.1 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 1,024 | 0 | ||
Acquisition cost | 0 | 1,015 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 0 | 9 | ||
Acquisition | 1,462 | 1,015 | ||
Disposal/Reclassification | (2,338) | 0 | ||
Dividends | (148) | 0 | ||
Business combination | 0 | |||
Change in capital | 0 | 0 | ||
Ending | 0 | 1,024 | 0 | |
Woori Goseong Power EBL Private Special Asset Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 15,118 | 0 | ||
Acquisition cost | 0 | 14,915 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 227 | 611 | ||
Acquisition | 0 | 14,915 | ||
Disposal/Reclassification | (15,118) | 0 | ||
Dividends | (370) | (408) | ||
Business combination | 0 | |||
Change in capital | 143 | 0 | ||
Ending | 0 | 15,118 | 0 | |
Woori Seoul Beltway Private Special Asset Fund No.1 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 5,613 | 0 | ||
Acquisition cost | 7,513 | 5,590 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 124 | 97 | ||
Acquisition | 1,935 | 5,591 | ||
Disposal/Reclassification | 0 | 0 | ||
Dividends | (121) | (75) | ||
Business combination | 0 | |||
Change in capital | 0 | 0 | ||
Ending | 7,551 | 5,613 | 0 | |
Portone-Cape Fund No.1 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 960 | 0 | ||
Acquisition cost | 340 | 1,000 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 189 | 0 | ||
Acquisition | 0 | 0 | ||
Disposal/Reclassification | (660) | 0 | ||
Dividends | 0 | 0 | ||
Business combination | 960 | |||
Change in capital | 0 | 0 | ||
Ending | 489 | 960 | 0 | |
Woori FirstValue Private Real Estate Fund No.2 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 2,130 | 0 | ||
Acquisition cost | 9,000 | 9,000 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | (637) | 1,184 | ||
Acquisition | 0 | 0 | ||
Disposal/Reclassification | 0 | 0 | ||
Dividends | (730) | 0 | ||
Business combination | 0 | |||
Change in capital | 0 | 946 | ||
Ending | 763 | 2,130 | 0 | |
Woori Star50 Master Fund ClassC-F | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 184 | 0 | ||
Acquisition cost | 0 | 200 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | (4) | (16) | ||
Acquisition | 0 | 200 | ||
Disposal/Reclassification | (180) | 0 | ||
Dividends | 0 | 0 | ||
Business combination | 0 | |||
Change in capital | 0 | 0 | ||
Ending | 0 | 184 | 0 | |
JC Assurance No.2 Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 29,050 | 0 | ||
Acquisition cost | 29,349 | 29,050 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | (11,621) | 0 | ||
Acquisition | 299 | 29,050 | ||
Disposal/Reclassification | 0 | 0 | ||
Dividends | 0 | 0 | ||
Business combination | 0 | |||
Change in capital | 0 | 0 | ||
Ending | 17,728 | 29,050 | 0 | |
Dream Company Growth no.1 PEF | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 7,705 | 0 | ||
Acquisition cost | 7,706 | 7,705 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 680 | 0 | ||
Acquisition | 0 | 7,705 | ||
Disposal/Reclassification | 0 | 0 | ||
Dividends | (471) | 0 | ||
Business combination | 0 | |||
Change in capital | 0 | 0 | ||
Ending | 7,914 | 7,705 | 0 | |
HMS-Oriens 1st Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 12,000 | 0 | ||
Acquisition cost | 12,000 | 12,000 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 7 | 0 | ||
Acquisition | 0 | 12,000 | ||
Disposal/Reclassification | 0 | 0 | ||
Dividends | 0 | 0 | ||
Business combination | 0 | |||
Change in capital | 0 | 0 | ||
Ending | 12,007 | 12,000 | 0 | |
Woori High Plus Short-term High Graded ESG Bond Sec Feeder Inv Trust 1 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 93,474 | 0 | ||
Acquisition cost | 70,988 | 91,092 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 921 | 2,382 | ||
Acquisition | 20,765 | 91,092 | ||
Disposal/Reclassification | (38,870) | 0 | ||
Dividends | (2,503) | 0 | ||
Business combination | 0 | |||
Change in capital | 0 | 0 | ||
Ending | 73,787 | 93,474 | 0 | |
Woori Hanhwa Eureka Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 403 | 342 | 339 | |
Acquisition cost | 164 | 350 | 350 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 138 | 61 | 3 | |
Acquisition | 0 | 0 | 0 | |
Disposal/Reclassification | (214) | 0 | 0 | |
Dividends | 0 | 0 | 0 | |
Business combination | 0 | |||
Change in capital | 0 | 0 | 0 | |
Ending | 327 | 403 | 342 | |
WooriG Senior Loan General Type Private Investment Trust No.1 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 52,045 | 0 | ||
Acquisition cost | 87,382 | 51,959 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 2,959 | 343 | ||
Acquisition | 38,757 | 51,959 | ||
Disposal/Reclassification | (3,060) | 0 | ||
Dividends | (2,672) | (257) | ||
Business combination | 0 | |||
Change in capital | 0 | 0 | ||
Ending | 88,029 | 52,045 | 0 | |
Dicustody Co., Ltd | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 0 | |||
Acquisition cost | 1 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 0 | |||
Acquisition | 1 | |||
Disposal/Reclassification | 0 | |||
Dividends | 0 | |||
Change in capital | 0 | |||
Ending | 1 | 0 | ||
Woori Corporate Private Securities Fund 1 (Bond) | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 0 | |||
Acquisition cost | 0 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 0 | |||
Acquisition | 10,000 | |||
Disposal/Reclassification | (10,000) | |||
Dividends | 0 | |||
Change in capital | 0 | |||
Ending | 0 | 0 | ||
Woori MultiReturn Securities Investment Trust 3 (Balanced Bond) | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 0 | |||
Acquisition cost | 10,000 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 23 | |||
Acquisition | 10,000 | |||
Disposal/Reclassification | 0 | |||
Dividends | 0 | |||
Change in capital | 0 | |||
Ending | 10,023 | 0 | ||
WOORI TAERIM 1st Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 283 | 0 | ||
Acquisition cost | 1,100 | 1,100 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 708 | (6) | ||
Acquisition | 0 | 0 | ||
Disposal/Reclassification | 0 | 0 | ||
Dividends | 0 | 0 | ||
Business combination | 289 | |||
Change in capital | 0 | 0 | ||
Ending | 991 | 283 | 0 | |
KIWOOM WOORI Financial 1st Investment Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 994 | 0 | ||
Acquisition cost | 1,000 | 1,000 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | (21) | (6) | ||
Acquisition | 0 | 1,000 | ||
Disposal/Reclassification | 0 | 0 | ||
Dividends | 0 | 0 | ||
Business combination | 0 | |||
Change in capital | 0 | 0 | ||
Ending | 973 | 994 | ₩ 0 | |
DeepDive WOORI 2021-1 Financial Investment Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 0 | |||
Acquisition cost | 1,000 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | (7) | |||
Acquisition | 1,000 | |||
Disposal/Reclassification | 0 | |||
Dividends | 0 | |||
Change in capital | 0 | |||
Ending | 993 | 0 | ||
Darwin Green Packaging Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 0 | |||
Acquisition cost | 4,000 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | (43) | |||
Acquisition | 4,000 | |||
Disposal/Reclassification | 0 | |||
Dividends | 0 | |||
Change in capital | 0 | |||
Ending | 3,957 | 0 | ||
WooriG Real Infrastructure Blind General Type Private Placement Investment Trust [Member] | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 0 | |||
Acquisition cost | 100 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 0 | |||
Acquisition | 100 | |||
Disposal/Reclassification | 0 | |||
Dividends | 0 | |||
Change in capital | 0 | |||
Ending | 100 | 0 | ||
Aarden Woori Apparel 1st Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 0 | |||
Acquisition cost | 100 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | (1) | |||
Acquisition | 100 | |||
Disposal/Reclassification | 0 | |||
Dividends | 0 | |||
Change in capital | 0 | |||
Ending | 99 | 0 | ||
Woori Zip 1 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 0 | |||
Acquisition cost | 10,143 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | (26) | |||
Acquisition | 16,380 | |||
Disposal/Reclassification | (6,237) | |||
Dividends | 0 | |||
Change in capital | 379 | |||
Ending | 10,496 | 0 | ||
Woori Zip 2 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 0 | |||
Acquisition cost | 14,254 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | (50) | |||
Acquisition | 22,883 | |||
Disposal/Reclassification | (8,628) | |||
Dividends | 0 | |||
Change in capital | 527 | |||
Ending | 14,732 | 0 | ||
KUM HWA Co., Ltd. | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 0 | |||
Acquisition cost | 0 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 0 | |||
Acquisition | 0 | |||
Disposal/Reclassification | 0 | |||
Dividends | 0 | |||
Change in capital | 0 | |||
Ending | 0 | 0 | ||
Changes in investments in associates due to accounts transfer | 2 | |||
JINMYUNGPLUS CO.,LTD. | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 0 | |||
Acquisition cost | 0 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 0 | |||
Acquisition | 0 | |||
Disposal/Reclassification | 0 | |||
Dividends | 0 | |||
Change in capital | 0 | |||
Ending | 0 | 0 | ||
Genesis Eco No.1 Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 0 | |||
Acquisition cost | 11,805 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | (685) | |||
Acquisition | 11,805 | |||
Disposal/Reclassification | 0 | |||
Dividends | 0 | |||
Change in capital | 0 | |||
Ending | 11,120 | 0 | ||
Paratus Woori Material Component Equipment joint venture company | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 0 | |||
Acquisition cost | 17,700 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | (207) | |||
Acquisition | 17,700 | |||
Disposal/Reclassification | 0 | |||
Dividends | 0 | |||
Change in capital | 0 | |||
Ending | 17,493 | 0 | ||
Midas No. 8 Private Equity Joint Venture Company | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 0 | |||
Acquisition cost | 19,000 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | (32) | |||
Acquisition | 19,000 | |||
Disposal/Reclassification | 0 | |||
Dividends | 0 | |||
Change in capital | 0 | |||
Ending | 18,968 | 0 | ||
Woori Shortterm Bond Securities Investment Trust (Bond) ClassCF | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 0 | |||
Acquisition cost | 150,000 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 1,822 | |||
Acquisition | 150,000 | |||
Disposal/Reclassification | 0 | |||
Dividends | 0 | |||
Change in capital | 0 | |||
Ending | 151,822 | 0 | ||
Woori G Star Private Placement Investment Trust No.33 FI | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 0 | |||
Acquisition cost | 0 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits(losses) | 0 | |||
Acquisition | 20,000 | |||
Disposal/Reclassification | (20,000) | |||
Dividends | 0 | |||
Change in capital | 0 | |||
Ending | ₩ 0 | ₩ 0 |
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) $ in Thousands, ₩ in Millions | 12 Months Ended | ||||
Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | Dec. 31, 2019KRW (₩) | Dec. 31, 2021USD ($) | |
Equity method investment summarized financial information [Line Items] | |||||
Assets | ₩ 447,183,871 | ₩ 399,081,017 | ₩ 361,980,724 | $ 376,227,386 | |
Liabilites | 418,378,768 | 372,355,172 | 336,488,392 | $ 351,992,906 | |
Other comprehensive income(loss) | 170,181 | $ 143,178 | (82,207) | 51,782 | |
Total comprehensive income(loss) | 2,932,460 | $ 2,467,155 | 1,433,042 | ₩ 2,089,378 | |
W Service Networks Co., Ltd. | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 6,208 | 6,305 | |||
Liabilites | 2,504 | 2,448 | |||
Operating revenue | 17,019 | 18,525 | |||
Net income(loss) | 840 | 1,197 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 840 | 1,197 | |||
Korea Credit Bureau Co., Ltd. | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 113,859 | 117,077 | |||
Liabilites | 21,284 | 37,599 | |||
Operating revenue | 127,751 | 107,810 | |||
Net income(loss) | 20,486 | 13,391 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 20,486 | 13,391 | |||
Korea Finance Security Co., Ltd. | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 34,957 | 36,978 | |||
Liabilites | 14,286 | 16,536 | |||
Operating revenue | 57,462 | 60,599 | |||
Net income(loss) | 249 | (1,985) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 249 | (1,985) | |||
Woori Growth Partnerships New Technology Private Equity Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 54,173 | 65,390 | |||
Liabilites | 231 | 252 | |||
Operating revenue | 3,807 | 1,589 | |||
Net income(loss) | (2,228) | (9,601) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (2,228) | (9,601) | |||
2016KIF-IMM Woori Bank Technology Venture Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 63,983 | 64,109 | |||
Liabilites | 837 | 1,198 | |||
Operating revenue | 23,010 | 7,425 | |||
Net income(loss) | 21,119 | 6,201 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 21,119 | 6,201 | |||
K BANK Co., Ltd. | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 14,021,789 | 4,040,051 | |||
Liabilites | 12,291,131 | 3,530,074 | |||
Operating revenue | 250,502 | 68,144 | |||
Net income(loss) | 19,348 | (83,989) | |||
Other comprehensive income(loss) | (32,072) | (1,354) | |||
Total comprehensive income(loss) | (12,724) | (85,343) | |||
Smart Private Equity Fund No.2 | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 13,667 | ||||
Liabilites | 51 | ||||
Operating revenue | 1 | ||||
Net income(loss) | (204) | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | (204) | ||||
Woori Bank-Company K Korea Movie Asset Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 1,383 | 11,273 | |||
Liabilites | 2 | 119 | |||
Operating revenue | 1,075 | 1,926 | |||
Net income(loss) | 543 | 1,461 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 543 | 1,461 | |||
Well to Sea No.3 Private Equity Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 22,001 | ||||
Liabilites | 3,102 | ||||
Operating revenue | 610,535 | ||||
Net income(loss) | 16,061 | ||||
Other comprehensive income(loss) | 3,976 | ||||
Total comprehensive income(loss) | 20,037 | ||||
Partner One Value Up I Private Equity Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 28,273 | 42,205 | |||
Liabilites | 0 | 0 | |||
Operating revenue | 11,972 | 308 | |||
Net income(loss) | 10,914 | (329) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 10,914 | (329) | |||
IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 56,363 | 46,542 | |||
Liabilites | 597 | 655 | |||
Operating revenue | 11,422 | 1,024 | |||
Net income(loss) | 10,077 | (411) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 10,077 | (411) | |||
Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 15,799 | 15,747 | |||
Liabilites | 5 | 0 | |||
Operating revenue | 0 | 284 | |||
Net income(loss) | (332) | (85) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (332) | (85) | |||
Woori-Shinyoung Growth-Cap Private Equity Fund 1 | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 82,087 | 110,452 | |||
Liabilites | 314 | 825 | |||
Operating revenue | 83,143 | 23,875 | |||
Net income(loss) | 81,550 | 21,106 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 81,550 | 21,106 | |||
LOTTE CARD Co., Ltd. | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 15,980,312 | 14,578,716 | |||
Liabilites | 13,460,156 | 12,238,805 | |||
Operating revenue | 1,499,867 | 1,255,593 | |||
Net income(loss) | 184,919 | 78,781 | |||
Other comprehensive income(loss) | 25,612 | (9,040) | |||
Total comprehensive income(loss) | 210,531 | 69,741 | |||
Woori-Q Corporate Restructuring Private Equity Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 121,057 | 58,355 | |||
Liabilites | 555 | 433 | |||
Operating revenue | 327 | 206 | |||
Net income(loss) | (1,547) | (1,590) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (1,547) | (1,590) | |||
PCC-Woori LP Secondary Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 31,585 | 20,927 | |||
Liabilites | 0 | 4 | |||
Operating revenue | 5,720 | 2,082 | |||
Net income(loss) | 4,162 | 1,425 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 4,162 | 1,425 | |||
Force TEC Co., Ltd. | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 11,904 | 47,077 | |||
Liabilites | 23,508 | 45,552 | |||
Operating revenue | 20,941 | 25,914 | |||
Net income(loss) | (9,188) | (415) | |||
Other comprehensive income(loss) | 0 | (2,745) | |||
Total comprehensive income(loss) | (9,188) | (3,160) | |||
Together-Korea Government Private Pool Private Securities Investment Trust No.3 | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 10,073 | 10,025 | |||
Liabilites | 1 | 1 | |||
Operating revenue | 41 | 187 | |||
Net income(loss) | 37 | 23 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 37 | 23 | |||
Genesis Environmental Energy Company 1st Private Equity Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 20,610 | 16,192 | |||
Liabilites | 3,941 | 118 | |||
Operating revenue | 11,347 | 1,400 | |||
Net income(loss) | 694 | 974 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 694 | 974 | |||
Union Technology Finance Investment Association | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 41,996 | 15,151 | |||
Liabilites | 290 | 51 | |||
Operating revenue | 13 | 1 | |||
Net income(loss) | (1,168) | (50) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (1,168) | (50) | |||
Godo Kaisha Oceanos 1 | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 66,087 | 66,793 | |||
Liabilites | 45,367 | 45,472 | |||
Operating revenue | 3,141 | 1,425 | |||
Net income(loss) | 267 | 14 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 267 | 14 | |||
Japanese Hotel Real Estate Private Equity Fund No.2 | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 16,104 | 16,293 | |||
Liabilites | 14 | 15 | |||
Operating revenue | 911 | 1,359 | |||
Net income(loss) | 1,196 | 1,271 | |||
Other comprehensive income(loss) | (373) | (940) | |||
Total comprehensive income(loss) | 823 | 331 | |||
Woori High plus G.B. Securities Feeder Fund1(G.B.) | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 27,870 | ||||
Liabilites | 0 | ||||
Operating revenue | 148 | ||||
Net income(loss) | 148 | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | 148 | ||||
Woori G Clean Energy No.1 | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 3,496 | ||||
Liabilites | 1 | ||||
Operating revenue | 33 | ||||
Net income(loss) | 32 | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | 32 | ||||
Woori Goseong Power EBL Private Special Asset Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 90,728 | ||||
Liabilites | 21 | ||||
Operating revenue | 3,060 | ||||
Net income(loss) | 2,969 | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | 2,969 | ||||
Woori Seoul Beltway Private Special Asset Fund No.1 | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 30,206 | 22,452 | |||
Liabilites | 1 | 1 | |||
Operating revenue | 536 | 352 | |||
Net income(loss) | 500 | 323 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 500 | 323 | |||
Portone-Cape Fund No.1 | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 2,447 | 4,800 | |||
Liabilites | 0 | 0 | |||
Operating revenue | 1,050 | 0 | |||
Net income(loss) | 947 | 0 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 947 | 0 | |||
Woori FirstValue Private Real Estate Fund No.2 | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 69,672 | 20,220 | |||
Liabilites | 63,309 | 2,467 | |||
Operating revenue | 0 | 9 | |||
Net income(loss) | (5,303) | (9) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (5,303) | (9) | |||
Woori Star50 Master Fund ClassC-F | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 1,011 | ||||
Liabilites | 246 | ||||
Operating revenue | 11 | ||||
Net income(loss) | 11 | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | 11 | ||||
JC Assurance No.2 Private Equity Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 118,397 | 98,431 | |||
Liabilites | 0 | 13 | |||
Operating revenue | 0 | 0 | |||
Net income(loss) | (1,040) | (732) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (1,040) | (732) | |||
Dream Company Growth no.1 PEF | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 28,533 | 28,727 | |||
Liabilites | 44 | 43 | |||
Operating revenue | 0 | 0 | |||
Net income(loss) | 1,500 | (116) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 1,500 | (116) | |||
HMS-Oriens 1st Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 52,659 | 52,685 | |||
Liabilites | 28 | 53 | |||
Operating revenue | 2,750 | 90 | |||
Net income(loss) | 2,179 | 20 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 2,179 | 20 | |||
Woori High Plus Short-term High Graded ESG Bond Sec Feeder Inv Trust 1 | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 257,891 | 402,015 | |||
Liabilites | 0 | 0 | |||
Operating revenue | 3,239 | 10,727 | |||
Net income(loss) | 3,239 | 10,727 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 3,239 | 10,727 | |||
Dicustody Co., Ltd. | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 98 | ||||
Liabilites | 0 | ||||
Operating revenue | 0 | ||||
Net income(loss) | (2) | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | (2) | ||||
WooriG Senior Loan General Type Private Investment Trust No.1 | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 240,414 | ||||
Liabilites | 15 | ||||
Operating revenue | 1,721 | ||||
Net income(loss) | 1,584 | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | 1,584 | ||||
Woori MultiReturn Securities Investment Trust 3 (Balanced Bond) | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 101,644 | ||||
Liabilites | 51,530 | ||||
Operating revenue | 5 | ||||
Net income(loss) | 2 | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | 2 | ||||
Woori Short-term Bond Securities Investment Trust (Bond) ClassC-F | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 1,209,228 | ||||
Liabilites | 158,524 | ||||
Operating revenue | 89 | ||||
Net income(loss) | 79 | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | 79 | ||||
WOORI TAERIM 1st Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 4,047 | 1,192 | |||
Liabilites | 172 | 86 | |||
Operating revenue | 0 | 0 | |||
Net income(loss) | 2,770 | (22) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 2,770 | (22) | |||
KIWOOM WOORI Financial 1st Investment Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 10,818 | 10,986 | |||
Liabilites | 111 | 57 | |||
Operating revenue | 1 | 0 | |||
Net income(loss) | (221) | (71) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (221) | (71) | |||
DeepDive WOORI 20211 Financial Investment Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 8,340 | ||||
Liabilites | 0 | ||||
Operating revenue | 0 | ||||
Net income(loss) | (60) | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | (60) | ||||
Darwin Green Packaging Private Equity Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 19,387 | ||||
Liabilites | 0 | ||||
Operating revenue | 0 | ||||
Net income(loss) | (213) | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | (213) | ||||
WooriG Real Infrastructure Blind General Type Private Placement Investment Trust | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 35,796 | ||||
Liabilites | 1 | ||||
Operating revenue | (34) | ||||
Net income(loss) | (35) | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | (35) | ||||
Aarden Woori Apparel 1st Private Equity Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 21,075 | ||||
Liabilites | 89 | ||||
Operating revenue | 0 | ||||
Net income(loss) | (214) | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | (214) | ||||
Woori Zip 1 | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 52,259 | ||||
Liabilites | 35,833 | ||||
Operating revenue | 1,106 | ||||
Net income(loss) | (26) | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | (26) | ||||
Woori Zip 2 | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 74,033 | ||||
Liabilites | 50,951 | ||||
Operating revenue | 1,536 | ||||
Net income(loss) | (50) | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | (50) | ||||
KUM HWA Co., Ltd. | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 20 | ||||
Liabilites | 176 | ||||
Operating revenue | 58 | ||||
Net income(loss) | (10) | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | (10) | ||||
JINMYUNGPLUS CO.,LTD. | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 568 | ||||
Liabilites | 445 | ||||
Operating revenue | 209 | ||||
Net income(loss) | 5 | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | 5 | ||||
Woori G Senior Loan Private Placement Investment Trust No.1 | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 406,634 | ||||
Liabilites | 25 | ||||
Operating revenue | 14,553 | ||||
Net income(loss) | 13,669 | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | 13,669 | ||||
Genesis Eco No.1 Private Equity Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 38,369 | ||||
Liabilites | 4 | ||||
Operating revenue | 308 | ||||
Net income(loss) | (377) | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | (377) | ||||
Paratus Woori Material Component Equipment joint venture company | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 58,507 | ||||
Liabilites | 0 | ||||
Operating revenue | 7 | ||||
Net income(loss) | (693) | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | (693) | ||||
Midas No. 8 Private Equity Joint Venture Company | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 66,699 | ||||
Liabilites | 112 | ||||
Operating revenue | 1 | ||||
Net income(loss) | (113) | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | (113) | ||||
Woori Hanhwa Eureka Private Equity Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 40,817 | 50,382 | |||
Liabilites | 133 | 235 | |||
Operating revenue | 20,193 | 8,150 | |||
Net income(loss) | 19,821 | 7,676 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | ₩ 19,821 | ₩ 7,676 |
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, 2021 | Dec. 31, 2020 | |
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 | 464,812 |
Ownership | 21.40% | 21.40% |
Description of reasons why presumption investor has significant influence is overcome when its interest in investee is more than twenty per cent | Although 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 joint ventures and associates. | Although 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 joint ventures and 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 investor has significant influence is overcome when its interest in investee is more than twenty per cent | Although 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 joint ventures and associates. | Although 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 joint ventures and 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 investor has significant influence is overcome when its interest in investee is more than twenty per cent | Although 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 joint ventures and associates. | Although 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 joint ventures and associates. |
S.WIN Co., Ltd [Member] | ||
Disclosure of entities not applied for equity method of accounting with ownership ratio exceeding twenty percent [Line Items] | ||
Number of shares owned | 20,301 | |
Ownership | 20.00% | |
Description of reasons why presumption investor has significant influence is overcome when its interest in investee is more than twenty per cent | Although 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 joint ventures and 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, ₩ in Millions | 12 Months Ended | |||||
Dec. 31, 2021KRW (₩) | Dec. 31, 2020KRW (₩) | Dec. 31, 2019KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2018KRW (₩) | |
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 | ₩ 28,805,103 | ₩ 26,725,845 | ₩ 25,492,332 | $ 24,234,480 | $ 22,485,146 | ₩ 21,953,044 |
Book value | 1,335,167 | 993,291 | 806,360 | $ 1,123,311 | 361,766 | |
W 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 | ₩ 3,704 | ₩ 3,857 | ₩ 3,773 | |||
Ownership | 4.90% | 4.90% | 4.90% | |||
Ownership portion of net assets | ₩ 183 | ₩ 191 | ₩ 186 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 0 | 0 | |||
Book value | 183 | 191 | 186 | 157 | ||
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 | ₩ 92,575 | ₩ 79,478 | ₩ 66,566 | |||
Ownership | 9.90% | 9.90% | 9.90% | |||
Ownership portion of net assets | ₩ 9,177 | ₩ 7,876 | ₩ 6,597 | |||
Basis difference | 246 | 246 | 246 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 3 | 2 | |||
Book value | 9,423 | 8,125 | 6,845 | 6,790 | ||
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 | ₩ 20,671 | ₩ 20,442 | ₩ 21,914 | |||
Ownership | 15.00% | 15.00% | 15.00% | |||
Ownership portion of net assets | ₩ 3,101 | ₩ 3,066 | ₩ 3,287 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 0 | 0 | |||
Book value | 3,101 | 3,066 | 3,287 | 3,456 | ||
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 | ₩ 105,383 | |||||
Ownership | 25.30% | |||||
Ownership portion of net assets | ₩ 26,646 | |||||
Basis difference | 24,565 | |||||
Impairment | 0 | |||||
Intercompany transaction | (35) | |||||
Book value | 0 | 51,176 | 44,741 | |||
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 | ₩ 26,022 | |||||
Ownership | 9.20% | |||||
Ownership portion of net assets | ₩ 2,391 | |||||
Basis difference | 5,373 | |||||
Impairment | (6,915) | |||||
Intercompany transaction | 0 | |||||
Book value | 0 | 849 | 1,014 | |||
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 | ₩ 53,942 | ₩ 65,138 | ₩ 83,253 | |||
Ownership | 23.10% | 23.10% | 23.10% | |||
Ownership portion of net assets | ₩ 12,448 | ₩ 15,034 | ₩ 19,215 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | (2) | (3) | |||
Book value | 12,448 | 15,032 | 19,212 | 25,091 | ||
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 | ₩ 63,146 | ₩ 62,911 | ₩ 72,425 | |||
Ownership | 20.00% | 20.00% | 20.00% | |||
Ownership portion of net assets | ₩ 12,630 | ₩ 12,582 | ₩ 14,485 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 656 | 656 | |||
Book value | 12,630 | 13,238 | 15,141 | 15,300 | ||
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 | ₩ 1,730,307 | ₩ 509,978 | ₩ 215,800 | |||
Ownership | 12.60% | 26.20% | 14.50% | |||
Ownership portion of net assets | ₩ 217,599 | ₩ 133,614 | ₩ 31,248 | |||
Basis difference | 21,894 | 44,117 | 3,634 | |||
Impairment | 0 | (3,634) | (3,634) | |||
Intercompany transaction | 0 | 0 | 6 | |||
Book value | ₩ 239,493 | 174,097 | 31,254 | 43,709 | ||
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 | ₩ 13,616 | ₩ 13,821 | ||||
Ownership | 0.00% | 20.00% | 20.00% | |||
Ownership portion of net assets | ₩ 2,723 | ₩ 2,764 | ||||
Basis difference | 0 | 0 | ||||
Impairment | (1,242) | 0 | ||||
Intercompany transaction | 0 | 0 | ||||
Book value | ₩ 0 | 1,481 | 2,764 | 2,890 | ||
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 | ₩ 1,381 | ₩ 11,154 | ₩ 13,292 | |||
Ownership | 25.00% | 25.00% | 25.00% | |||
Ownership portion of net assets | ₩ 345 | ₩ 2,788 | ₩ 3,323 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 0 | 0 | |||
Book value | ₩ 345 | 2,788 | 3,323 | 2,700 | ||
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 | ₩ 18,899 | ₩ 418,250 | ||||
Ownership | 0.00% | 50.00% | 50.00% | |||
Ownership portion of net assets | ₩ 0 | ₩ 209,041 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | (18) | ||||
Book value | 0 | 209,023 | 197,393 | |||
Partner One Value Up I 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 | ₩ 28,273 | ₩ 42,205 | ₩ 42,602 | |||
Ownership | 23.30% | 23.30% | 23.30% | |||
Ownership portion of net assets | ₩ 6,576 | ₩ 9,817 | ₩ 9,909 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | (1) | (1) | |||
Book value | 6,576 | 9,816 | 9,908 | 9,948 | ||
IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership | ||||||
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 | ₩ 55,767 | ₩ 45,888 | ₩ 20,517 | |||
Ownership | 20.00% | 20.00% | 20.00% | |||
Ownership portion of net assets | ₩ 11,153 | ₩ 9,178 | ₩ 4,103 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 578 | 473 | |||
Book value | 11,153 | 9,756 | 4,576 | 4,426 | ||
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 | ₩ 15,794 | ₩ 15,747 | ₩ 16,815 | |||
Ownership | 25.00% | 25.00% | 25.00% | |||
Ownership portion of net assets | ₩ 3,949 | ₩ 3,937 | ₩ 4,204 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 305 | 192 | 171 | |||
Book value | 4,254 | 4,129 | 4,375 | 3,025 | ||
Woori-Shinyoung Growth-Cap Private Equity Fund 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 | ₩ 81,773 | ₩ 109,627 | ₩ 37,022 | |||
Ownership | 35.00% | 35.00% | 31.90% | |||
Ownership portion of net assets | ₩ 28,713 | ₩ 38,342 | ₩ 11,841 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 0 | 0 | |||
Book value | 28,713 | 38,342 | 11,841 | 0 | ||
LOTTE CARD 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 | ₩ 2,291,474 | ₩ 2,114,159 | ₩ 2,047,220 | |||
Ownership | 20.00% | 20.00% | 20.00% | |||
Ownership portion of net assets | ₩ 458,295 | ₩ 422,832 | ₩ 409,444 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 0 | 0 | |||
Book value | 458,295 | 422,832 | 409,444 | 0 | ||
Woori-Q Corporate Restructuring 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 | ₩ 120,502 | ₩ 57,922 | ₩ 15,152 | |||
Ownership | 38.10% | 38.40% | 38.40% | |||
Ownership portion of net assets | ₩ 46,155 | ₩ 22,220 | ₩ 5,813 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 684 | 233 | |||
Book value | 46,155 | 22,904 | 6,046 | 0 | ||
PCC-Woori LP Secondary 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 | ₩ 31,585 | ₩ 20,923 | ₩ 6,498 | |||
Ownership | 38.80% | 38.80% | 38.80% | |||
Ownership portion of net assets | ₩ 12,350 | ₩ 8,126 | ₩ 2,524 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 2 | 1 | |||
Book value | 12,350 | 8,128 | 2,525 | 0 | ||
Force TEC 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 | ₩ (11,604) | ₩ 1,526 | ||||
Ownership | 24.50% | 25.80% | ||||
Ownership portion of net assets | ₩ (2,843) | ₩ 393 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 2,843 | 0 | ||||
Book value | 0 | 393 | 0 | |||
Together-Korea Government Private Pool Private Securities Investment Trust No.3 | ||||||
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 | ₩ 10,071 | ₩ 10,024 | ||||
Ownership | 100.00% | 100.00% | ||||
Ownership portion of net assets | ₩ 10,070 | ₩ 10,024 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | (1) | ||||
Book value | 10,070 | 10,023 | 0 | |||
Genesis Environmental Energy Company 1st 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 | ₩ 16,669 | ₩ 16,074 | ||||
Ownership | 24.80% | 24.80% | ||||
Ownership portion of net assets | ₩ 4,126 | ₩ 3,979 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | 0 | ||||
Book value | 4,126 | 3,979 | 0 | |||
Union Technology Finance Investment Association | ||||||
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 | ₩ 41,706 | ₩ 15,100 | ||||
Ownership | 29.70% | 29.70% | ||||
Ownership portion of net assets | ₩ 12,388 | ₩ 4,485 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | 0 | ||||
Book value | 12,388 | 4,485 | 0 | |||
Godo Kaisha Oceanos 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 | ₩ 20,720 | ₩ 21,321 | ₩ 22,909 | |||
Ownership | 47.80% | 47.80% | 47.80% | |||
Ownership portion of net assets | ₩ 9,905 | ₩ 10,193 | ₩ 10,952 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 0 | 0 | |||
Book value | 9,905 | 10,193 | 10,952 | 0 | ||
Japanese Hotel Real Estate 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 | ₩ 16,090 | ₩ 16,278 | ₩ 16,555 | |||
Ownership | 19.90% | 19.90% | 19.90% | |||
Ownership portion of net assets | ₩ 3,196 | ₩ 3,234 | ₩ 3,291 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 0 | 0 | |||
Book value | 3,196 | 3,234 | 3,291 | 0 | ||
Woori High plus G.B. Securities Feeder Fund1(G.B.) | ||||||
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 | ₩ 27,870 | |||||
Ownership | 21.80% | |||||
Ownership portion of net assets | ₩ 6,076 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | ₩ 0 | 6,076 | 0 | |||
Woori G Clean Energy 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 | ₩ 3,495 | |||||
Ownership | 0.00% | 29.30% | ||||
Ownership portion of net assets | ₩ 1,024 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | ₩ 0 | 1,024 | 0 | |||
Woori Goseong Power EBL Private Special 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 | ₩ 90,707 | |||||
Ownership | 0.00% | 16.70% | ||||
Ownership portion of net assets | ₩ 15,118 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | ₩ 0 | 15,118 | 0 | |||
Woori Seoul Beltway Private Special Asset 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 | ₩ 30,205 | ₩ 22,451 | ||||
Ownership | 25.00% | 25.00% | ||||
Ownership portion of net assets | ₩ 7,551 | ₩ 5,613 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | 0 | ||||
Book value | 7,551 | 5,613 | 0 | |||
Portone-Cape 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 | ₩ 2,447 | ₩ 4,800 | ||||
Ownership | 20.00% | 20.00% | ||||
Ownership portion of net assets | ₩ 489 | ₩ 960 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | 0 | ||||
Book value | 489 | 960 | 0 | |||
Woori FirstValue Private Real Estate 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 | ₩ 6,363 | ₩ 17,753 | ||||
Ownership | 12.00% | 12.00% | ||||
Ownership portion of net assets | ₩ 763 | ₩ 2,130 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | 0 | ||||
Book value | 763 | 2,130 | 0 | |||
Woori Star50 Master Fund ClassC-F | ||||||
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 | ₩ 765 | |||||
Ownership | 24.50% | |||||
Ownership portion of net assets | ₩ 184 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 0 | 184 | 0 | |||
JC Assurance No.2 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 | ₩ 118,397 | ₩ 98,418 | ||||
Ownership | 24.40% | 29.30% | ||||
Ownership portion of net assets | ₩ 29,349 | ₩ 29,050 | ||||
Basis difference | 0 | 0 | ||||
Impairment | (11,621) | 0 | ||||
Intercompany transaction | 0 | 0 | ||||
Book value | 17,728 | 29,050 | 0 | |||
Dream Company Growth no.1 PEF | ||||||
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 | ₩ 28,489 | ₩ 28,684 | ||||
Ownership | 27.80% | 27.80% | ||||
Ownership portion of net assets | ₩ 7,914 | ₩ 7,705 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | 0 | ||||
Book value | 7,914 | 7,705 | 0 | |||
HMS-Oriens 1st 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 | ₩ 52,631 | ₩ 52,632 | ||||
Ownership | 22.80% | 22.80% | ||||
Ownership portion of net assets | ₩ 12,007 | ₩ 12,000 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | 0 | ||||
Book value | 12,007 | 12,000 | 0 | |||
Woori High Plus Short-term High Graded ESG Bond Sec Feeder Inv Trust 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 | ₩ 257,891 | ₩ 402,015 | ||||
Ownership | 27.50% | 23.30% | ||||
Ownership portion of net assets | ₩ 73,787 | ₩ 93,474 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | 0 | ||||
Book value | 73,787 | 93,474 | 0 | |||
WOORI TAERIM 1st 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 | ₩ 3,875 | ₩ 1,106 | ||||
Ownership | 25.60% | 25.60% | ||||
Ownership portion of net assets | ₩ 991 | ₩ 283 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | 0 | ||||
Book value | 991 | ₩ 283 | 0 | |||
Dicustody 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 | ₩ 98 | |||||
Ownership | 1.00% | |||||
Ownership portion of net assets | ₩ 1 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 1 | |||||
Woori Multi Return Private Securities Investment Trust 3(Balanced Bond) | ||||||
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 | ₩ 50,114 | |||||
Ownership | 20.00% | |||||
Ownership portion of net assets | ₩ 10,023 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 10,023 | |||||
Woori Shortterm Bond Securities Investment Trust (Bond) ClassCF | ||||||
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 | ₩ 1,050,704 | |||||
Ownership | 14.50% | 0.00% | ||||
Ownership portion of net assets | ₩ 151,822 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 151,822 | ₩ 0 | ||||
KIWOOM WOORI Financial 1st Investment 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 | ₩ 10,707 | ₩ 10,929 | ||||
Ownership | 9.10% | 9.10% | ||||
Ownership portion of net assets | ₩ 973 | ₩ 994 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | 0 | ||||
Book value | 973 | ₩ 994 | 0 | |||
DeepDive WOORI 2021-1 Financial Investment 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 | ₩ 8,340 | |||||
Ownership | 11.90% | 0.00% | ||||
Ownership portion of net assets | ₩ 993 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 993 | ₩ 0 | ||||
Darwin Green Packaging 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 | ₩ 19,387 | |||||
Ownership | 20.40% | 0.00% | ||||
Ownership portion of net assets | ₩ 3,957 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 3,957 | ₩ 0 | ||||
WooriG Real Infrastructure Blind General Type Private Placement Investment Trust [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 | ₩ 35,795 | |||||
Ownership | 0.30% | 0.00% | ||||
Ownership portion of net assets | ₩ 100 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 100 | ₩ 0 | ||||
Woori 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 | ₩ 40,684 | ₩ 50,147 | ₩ 41,714 | |||
Ownership | 0.80% | 0.80% | 0.80% | |||
Ownership portion of net assets | ₩ 327 | ₩ 403 | ₩ 342 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 0 | 0 | |||
Book value | 327 | ₩ 403 | 342 | ₩ 339 | ||
Aarden Woori Apparel 1st 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 | ₩ 20,986 | |||||
Ownership | 0.50% | 0.00% | ||||
Ownership portion of net assets | ₩ 99 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 99 | ₩ 0 | ||||
Woori Zip 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 | ₩ 16,426 | |||||
Ownership | 63.90% | 0.00% | ||||
Ownership portion of net assets | ₩ 10,496 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 10,496 | ₩ 0 | ||||
Woori Zip 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 | ₩ 23,082 | |||||
Ownership | 63.80% | 0.00% | ||||
Ownership portion of net assets | ₩ 14,732 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 14,732 | ₩ 0 | ||||
KUM HWA 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 | ₩ (156) | |||||
Ownership | 20.10% | |||||
Ownership portion of net assets | ₩ (31) | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 31 | |||||
Book value | 0 | 0 | ||||
JINMYUNGPLUS 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 | ₩ 123 | |||||
Ownership | 21.30% | |||||
Ownership portion of net assets | ₩ 25 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | (25) | |||||
Book value | 0 | 0 | ||||
WooriG Senior Loan General Type Private Investment Trust 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 | ₩ 406,609 | ₩ 240,399 | ||||
Ownership | 21.70% | 21.70% | ||||
Ownership portion of net assets | ₩ 88,029 | ₩ 52,045 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | 0 | ||||
Book value | 88,029 | ₩ 52,045 | ₩ 0 | |||
Genesis Eco No.1 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 | ₩ 38,365 | |||||
Ownership | 29.00% | 0.00% | ||||
Ownership portion of net assets | ₩ 11,120 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 11,120 | ₩ 0 | ||||
Paratus Woori Material Component Equipment joint venture company | ||||||
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 | ₩ 58,507 | |||||
Ownership | 29.90% | 0.00% | ||||
Ownership portion of net assets | ₩ 17,493 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 17,493 | ₩ 0 | ||||
Midas No. 8 Private Equity Joint Venture Company | ||||||
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 | ₩ 66,587 | |||||
Ownership | 28.50% | 0.00% | ||||
Ownership portion of net assets | ₩ 18,968 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | ₩ 18,968 | ₩ 0 |
Investment in joint ventures _8
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 (Parenthetical) (Details) ₩ in Millions | Dec. 31, 2020KRW (₩) |
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] | |
Recoverable amount | ₩ 15,687 |
Investment properties - Details
Investment properties - Details of investment properties (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021KRW (₩) | Dec. 31, 2020KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2019KRW (₩) | |
Disclosure of detailed information about investment property [line items] | ||||
Net carrying value | ₩ 389,495 | ₩ 387,464 | $ 327,692 | ₩ 280,239 |
Fair value of investment properties | ₩ 665,710 | ₩ 750,659 | ||
Description of extent to which fair value of investment property is based on valuation by independent valuer | 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 detailed information about investment property [line items] | ||||
Net carrying value | ₩ 415,163 | ₩ 409,702 | ||
Accumulated depreciation | ||||
Disclosure of detailed information about investment property [line items] | ||||
Net carrying value | (25,582) | (22,152) | ||
Accumulated impairment losses | ||||
Disclosure of detailed information about investment property [line items] | ||||
Net carrying value | ₩ (86) | ₩ (86) |
Investment properties - Changes
Investment properties - Changes in investment properties (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | Dec. 31, 2019KRW (₩) | |
Reconciliation of changes in investment property [abstract] | ||||
Beginning balance | ₩ 387,464 | ₩ 280,239 | ||
Beginning balance (2019) | ₩ 178,910 | |||
Deducted amount at the beginning of the period | 199,286 | |||
Changes in investment property [abstract] | ||||
Acquisition | 0 | 76,588 | 70,346 | |
Disposal | 0 | (353) | (193) | |
Depreciation | (2,809) | (2,689) | (2,225) | |
Transfer | 6,095 | 30,431 | 32,394 | |
Foreign currencies translation adjustments | (1,255) | 267 | 402 | |
Business combination | 0 | 10,557 | 0 | |
Others | 0 | (7,576) | 605 | |
Ending balance | ₩ 389,495 | $ 327,692 | ₩ 387,464 | ₩ 280,239 |
Investment properties - Rental
Investment properties - Rental fee earned and operating expenses directly related to the investment properties (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Rental income from investment property, net of direct operating expense [abstract] | ||
Rental fee earned from investment properties | ₩ 15,056 | ₩ 15,190 |
Direct operating expense from investment property generating rental income | ₩ 2,941 | ₩ 2,807 |
Investment properties - Lease p
Investment properties - Lease payments expected to be received in the future under lease contracts (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of maturity analysis of operating lease payments [line items] | ||
Lease payments expected to be received in the future under lease contracts | ₩ 42,847 | ₩ 41,501 |
Within a year | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Lease payments expected to be received in the future under lease contracts | 13,769 | 11,553 |
More than 1 year and within 2 years | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Lease payments expected to be received in the future under lease contracts | 10,770 | 8,403 |
More than 2 years and within 3 years | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Lease payments expected to be received in the future under lease contracts | 7,743 | 7,545 |
More than 3 years and within 4 years | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Lease payments expected to be received in the future under lease contracts | 5,009 | 7,154 |
More than 4 years and within 5 years | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Lease payments expected to be received in the future under lease contracts | 2,953 | 4,312 |
More than 5 years | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Lease payments expected to be received in the future under lease contracts | ₩ 2,603 | ₩ 2,534 |
Premises And Equipment - Detail
Premises And Equipment - Details of premises and equipment (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | Dec. 31, 2019KRW (₩) | Dec. 31, 2018KRW (₩) |
Disclosure of property plant and equipment [Line Items] | |||||
Premises and equipment (owned) | ₩ 2,789,176 | ₩ 2,839,643 | ₩ 2,897,602 | ₩ 2,450,492 | |
Right-of-use asset | 385,544 | 447,555 | 467,114 | ||
Carrying value | 3,174,720 | $ 2,670,974 | 3,287,198 | ||
Land | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Premises and equipment (owned) | 1,719,325 | 1,726,045 | 1,761,159 | 1,481,871 | |
Right-of-use asset | 0 | 0 | |||
Carrying value | 1,719,325 | 1,726,045 | |||
Building | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Premises and equipment (owned) | 756,964 | 787,040 | 802,299 | 661,912 | |
Right-of-use asset | 367,480 | 435,132 | 449,878 | ||
Carrying value | 1,124,444 | 1,222,172 | |||
Equipment and vehicles | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Premises and equipment (owned) | 258,361 | 268,225 | 278,016 | 240,013 | |
Right-of-use asset | 18,064 | 12,423 | 17,236 | ||
Carrying value | 276,425 | 280,648 | |||
Leasehold improvements | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Premises and equipment (owned) | 51,354 | 50,085 | 54,839 | 57,594 | |
Right-of-use asset | 0 | 0 | |||
Carrying value | 51,354 | 50,085 | |||
Construction in progress | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Premises and equipment (owned) | 3,171 | 8,246 | 1,287 | 9,099 | |
Right-of-use asset | 0 | 0 | |||
Carrying value | 3,171 | 8,246 | |||
Structures | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Premises and equipment (owned) | 1 | 2 | ₩ 2 | ₩ 3 | |
Right-of-use asset | 0 | 0 | |||
Carrying value | ₩ 1 | ₩ 2 |
Premises And Equipment - Deta_2
Premises And Equipment - Details of premises and equipment(owned) (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | ₩ 2,789,176 | ₩ 2,839,643 | ₩ 2,897,602 | ₩ 2,450,492 |
Acquisition cost | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | 4,430,941 | 4,432,561 | ||
Accumulated depreciation | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | (1,641,105) | (1,592,258) | ||
Accumulated impairment losses | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | (660) | (660) | ||
Land | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | 1,719,325 | 1,726,045 | 1,761,159 | 1,481,871 |
Land | Acquisition cost | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | 1,719,985 | 1,726,705 | ||
Land | Accumulated depreciation | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | 0 | 0 | ||
Land | Accumulated impairment losses | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | (660) | (660) | ||
Building | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | 756,964 | 787,040 | 802,299 | 661,912 |
Building | Acquisition cost | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | 1,076,091 | 1,076,647 | ||
Building | Accumulated depreciation | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | (319,127) | (289,607) | ||
Building | Accumulated impairment losses | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | 0 | 0 | ||
Equipment and vehicles | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | 258,361 | 268,225 | 278,016 | 240,013 |
Equipment and vehicles | Acquisition cost | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | 1,156,479 | 1,142,653 | ||
Equipment and vehicles | Accumulated depreciation | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | (898,118) | (874,428) | ||
Equipment and vehicles | Accumulated impairment losses | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | 0 | 0 | ||
Leasehold improvements | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | 51,354 | 50,085 | 54,839 | 57,594 |
Leasehold improvements | Acquisition cost | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | 475,195 | 478,290 | ||
Leasehold improvements | Accumulated depreciation | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | (423,841) | (428,205) | ||
Leasehold improvements | Accumulated impairment losses | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | 0 | 0 | ||
Construction in progress | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | 3,171 | 8,246 | 1,287 | 9,099 |
Construction in progress | Acquisition cost | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | 3,171 | 8,246 | ||
Construction in progress | Accumulated depreciation | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | 0 | 0 | ||
Construction in progress | Accumulated impairment losses | ||||
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 | 1 | 2 | ₩ 2 | ₩ 3 |
Structures | Acquisition cost | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | 20 | 20 | ||
Structures | Accumulated depreciation | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | (19) | (18) | ||
Structures | Accumulated impairment losses | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | ₩ 0 | ₩ 0 |
Premises And Equipment - Deta_3
Premises And Equipment - Details of changes in premises and equipment(owned) (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Reconciliation of changes in property plant and equipment [Abstract] | |||
Beginning balance | ₩ 2,839,643 | ₩ 2,897,602 | ₩ 2,450,492 |
Changes in property plant and equipment [Abstract] | |||
Acquisitions | 118,803 | 149,462 | 429,547 |
Disposals | (4,636) | (11,338) | (9,201) |
Depreciation | (149,738) | (159,539) | (145,354) |
Classified as assets held for sale | (12,852) | (95) | |
Transfer | (6,095) | (32,895) | 166,912 |
Foreign currencies translation adjustments | 6,304 | (4,479) | 3,785 |
Business combination | 3,776 | 2,186 | |
Others | (2,253) | (2,946) | (670) |
Classification of assets held for sale | (12,852) | (95) | |
Ending balance | 2,789,176 | 2,839,643 | 2,897,602 |
Land | |||
Reconciliation of changes in property plant and equipment [Abstract] | |||
Beginning balance | 1,726,045 | 1,761,159 | 1,481,871 |
Changes in property plant and equipment [Abstract] | |||
Acquisitions | 0 | 3,787 | 186,303 |
Disposals | 0 | (8,326) | (3,015) |
Depreciation | 0 | 0 | 0 |
Classified as assets held for sale | (7,157) | (21) | |
Transfer | (3,649) | (30,847) | 93,956 |
Foreign currencies translation adjustments | 991 | (836) | 880 |
Business combination | 1,108 | 1,185 | |
Others | 3,095 | 0 | 0 |
Classification of assets held for sale | (7,157) | (21) | |
Ending balance | 1,719,325 | 1,726,045 | 1,761,159 |
Building | |||
Reconciliation of changes in property plant and equipment [Abstract] | |||
Beginning balance | 787,040 | 802,299 | 661,912 |
Changes in property plant and equipment [Abstract] | |||
Acquisitions | 15,750 | 26,972 | 87,667 |
Disposals | (1,994) | (1,719) | (2,245) |
Depreciation | (33,523) | (34,572) | (30,766) |
Classified as assets held for sale | (5,695) | (74) | |
Transfer | (2,446) | (2,048) | 83,260 |
Foreign currencies translation adjustments | 712 | (882) | 801 |
Business combination | 81 | 74 | |
Others | (2,880) | (3,091) | 1,670 |
Classification of assets held for sale | (5,695) | (74) | |
Ending balance | 756,964 | 787,040 | 802,299 |
Equipment and vehicles | |||
Reconciliation of changes in property plant and equipment [Abstract] | |||
Beginning balance | 268,225 | 278,016 | 240,013 |
Changes in property plant and equipment [Abstract] | |||
Acquisitions | 68,069 | 84,828 | 119,474 |
Disposals | (1,663) | (605) | (1,203) |
Depreciation | (93,921) | (94,388) | (87,453) |
Classified as assets held for sale | 0 | 0 | |
Transfer | 15,399 | 118 | 3,670 |
Foreign currencies translation adjustments | 2,868 | (1,849) | 1,459 |
Business combination | 2,150 | 926 | |
Others | (616) | (45) | 1,130 |
Classification of assets held for sale | 0 | 0 | |
Ending balance | 258,361 | 268,225 | 278,016 |
Leasehold improvements | |||
Reconciliation of changes in property plant and equipment [Abstract] | |||
Beginning balance | 50,085 | 54,839 | 57,594 |
Changes in property plant and equipment [Abstract] | |||
Acquisitions | 23,347 | 26,124 | 28,788 |
Disposals | (979) | (688) | (2,738) |
Depreciation | (22,293) | (30,579) | (27,134) |
Classified as assets held for sale | 0 | 0 | |
Transfer | 0 | 0 | 912 |
Foreign currencies translation adjustments | 1,580 | (830) | 609 |
Business combination | 437 | 1 | |
Others | (386) | 782 | (3,193) |
Classification of assets held for sale | 0 | 0 | |
Ending balance | 51,354 | 50,085 | 54,839 |
Construction in progress | |||
Reconciliation of changes in property plant and equipment [Abstract] | |||
Beginning balance | 8,246 | 1,287 | 9,099 |
Changes in property plant and equipment [Abstract] | |||
Acquisitions | 11,637 | 7,751 | 7,315 |
Disposals | 0 | 0 | 0 |
Depreciation | 0 | 0 | 0 |
Classified as assets held for sale | 0 | 0 | |
Transfer | (15,399) | (118) | (14,886) |
Foreign currencies translation adjustments | 153 | (82) | 36 |
Business combination | 0 | 0 | |
Others | (1,466) | (592) | (277) |
Classification of assets held for sale | 0 | 0 | |
Ending balance | 3,171 | 8,246 | 1,287 |
Structures | |||
Reconciliation of changes in property plant and equipment [Abstract] | |||
Beginning balance | 2 | 2 | 3 |
Changes in property plant and equipment [Abstract] | |||
Acquisitions | 0 | 0 | 0 |
Disposals | 0 | 0 | 0 |
Depreciation | (1) | 0 | (1) |
Classified as assets held for sale | 0 | 0 | |
Transfer | 0 | 0 | 0 |
Foreign currencies translation adjustments | 0 | 0 | 0 |
Business combination | 0 | 0 | |
Others | 0 | 0 | 0 |
Classification of assets held for sale | 0 | 0 | |
Ending balance | ₩ 1 | ₩ 2 | ₩ 2 |
Premises And Equipment - Deta_4
Premises And Equipment - Details of right-of-use assets (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of quantitative information about right-of-use assets [Line Items] | |||
Net carrying value | ₩ 385,544 | ₩ 447,555 | ₩ 467,114 |
Acquisition cost | |||
Disclosure of quantitative information about right-of-use assets [Line Items] | |||
Net carrying value | 681,465 | 748,880 | |
Accumulated depreciation | |||
Disclosure of quantitative information about right-of-use assets [Line Items] | |||
Net carrying value | (295,921) | (301,325) | |
Building | |||
Disclosure of quantitative information about right-of-use assets [Line Items] | |||
Net carrying value | 367,480 | 435,132 | 449,878 |
Building | Acquisition cost | |||
Disclosure of quantitative information about right-of-use assets [Line Items] | |||
Net carrying value | 650,906 | 720,417 | |
Building | Accumulated depreciation | |||
Disclosure of quantitative information about right-of-use assets [Line Items] | |||
Net carrying value | (283,426) | (285,285) | |
Equipment and vehicles | |||
Disclosure of quantitative information about right-of-use assets [Line Items] | |||
Net carrying value | 18,064 | 12,423 | ₩ 17,236 |
Equipment and vehicles | Acquisition cost | |||
Disclosure of quantitative information about right-of-use assets [Line Items] | |||
Net carrying value | 30,559 | 28,463 | |
Equipment and vehicles | Accumulated depreciation | |||
Disclosure of quantitative information about right-of-use assets [Line Items] | |||
Net carrying value | ₩ (12,495) | ₩ (16,040) |
Premises And Equipment - Deta_5
Premises And Equipment - Details of changes in right-of-use assets (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Reconciliation of changes in right-of-use assets [Abstract] | ||
Beginning balance | ₩ 447,555 | ₩ 467,114 |
Changes in right-of-use assets [Abstract] | ||
New contracts | 189,660 | 231,325 |
Changes in contract | 9,289 | 10,761 |
Termination | (48,305) | (19,499) |
Depreciation | (239,068) | (236,662) |
Business combination | 0 | 3,591 |
Others | 26,413 | (9,075) |
Ending balance | 385,544 | 447,555 |
Building | ||
Reconciliation of changes in right-of-use assets [Abstract] | ||
Beginning balance | 435,132 | 449,878 |
Changes in right-of-use assets [Abstract] | ||
New contracts | 172,812 | 224,494 |
Changes in contract | 9,064 | 10,729 |
Termination | (46,563) | (18,925) |
Depreciation | (228,403) | (224,946) |
Business combination | 0 | 3,210 |
Others | 25,438 | (9,308) |
Ending balance | 367,480 | 435,132 |
Equipment and vehicles | ||
Reconciliation of changes in right-of-use assets [Abstract] | ||
Beginning balance | 12,423 | 17,236 |
Changes in right-of-use assets [Abstract] | ||
New contracts | 16,848 | 6,831 |
Changes in contract | 225 | 32 |
Termination | (1,742) | (574) |
Depreciation | (10,665) | (11,716) |
Business combination | 0 | 381 |
Others | 975 | 233 |
Ending balance | ₩ 18,064 | ₩ 12,423 |
Intangible Assets - Details Of
Intangible Assets - Details Of Intangible Assets (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | Dec. 31, 2019KRW (₩) | Dec. 31, 2018KRW (₩) |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | ₩ 785,386 | $ 660,766 | ₩ 792,077 | ₩ 844,110 | ₩ 597,520 |
Acquisition cost | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | 2,225,702 | 2,079,836 | |||
Accumulated amortization | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | (1,403,415) | (1,250,862) | |||
Accumulated impairment losses | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | (36,901) | (36,897) | |||
Goodwill | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | 345,449 | 334,290 | 350,682 | 153,602 | |
Goodwill | Acquisition cost | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | 345,449 | 334,290 | |||
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 | |||
Industrial property rights | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | 723 | 709 | 692 | 562 | |
Industrial property rights | Acquisition cost | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | 2,057 | 1,810 | |||
Industrial property rights | Accumulated amortization | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | (1,334) | (1,101) | |||
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 | 207,708 | 208,873 | 225,193 | 240,320 | |
Development costs | Acquisition cost | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | 661,959 | 582,998 | |||
Development costs | Accumulated amortization | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | (454,251) | (374,125) | |||
Development costs | Accumulated impairment losses | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | 0 | 0 | |||
Other intangible assets | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | 193,182 | 205,445 | 234,147 | 169,024 | |
Other intangible assets | Acquisition cost | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | 1,174,565 | 1,114,615 | |||
Other intangible assets | Accumulated amortization | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | (947,830) | (875,636) | |||
Other intangible assets | Accumulated impairment losses | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | (33,553) | (33,534) | |||
Membership deposit | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | 37,607 | 36,091 | 29,330 | 23,597 | |
Membership deposit | Acquisition cost | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | 40,955 | 39,454 | |||
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 | (3,348) | (3,363) | |||
Construction in progress | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | 717 | 6,669 | ₩ 4,066 | ₩ 10,415 | |
Construction in progress | Acquisition cost | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | 717 | 6,669 | |||
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 - Details O_2
Intangible Assets - Details Of changes In Intangible Assets (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | ||||||
Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | Dec. 31, 2019KRW (₩) | ||||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||||||
Beginning balance | ₩ 792,077 | ₩ 844,110 | ₩ 597,520 | ||||
Changes in intangible assets and goodwill [abstract] | |||||||
Acquisitions | 127,242 | 103,215 | 156,047 | ||||
Disposal | (347) | (782) | (675) | ||||
Amortization | (149,311) | [1] | (136,658) | [2] | (128,413) | [3] | |
Impairment losses | (111) | (7,791) | (26,797) | ||||
Transfer | 0 | 0 | 0 | ||||
Foreign currencies translation adjustments | 14,343 | (17,027) | 12,586 | ||||
Business combination | 8,681 | 233,354 | |||||
Others | 1,493 | (1,671) | 488 | ||||
Ending balance | 785,386 | $ 660,766 | 792,077 | 844,110 | |||
Amortization of other intangible assets included in other operating expenses | 13,963 | 11,890 | 22,317 | ||||
Goodwill | |||||||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||||||
Beginning balance | 334,290 | 350,682 | 153,602 | ||||
Changes in intangible assets and goodwill [abstract] | |||||||
Acquisitions | 0 | 0 | 0 | ||||
Disposal | 0 | 0 | 0 | ||||
Amortization | 0 | [1] | 0 | [2] | 0 | [3] | |
Impairment losses | 0 | 0 | 0 | ||||
Transfer | 0 | 0 | 0 | ||||
Foreign currencies translation adjustments | 11,159 | (14,802) | 10,234 | ||||
Business combination | 0 | 186,846 | |||||
Others | 0 | (1,590) | 0 | ||||
Ending balance | 345,449 | 334,290 | 350,682 | ||||
Industrial property rights | |||||||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||||||
Beginning balance | 709 | 692 | 562 | ||||
Changes in intangible assets and goodwill [abstract] | |||||||
Acquisitions | 247 | 233 | 318 | ||||
Disposal | 0 | 0 | 0 | ||||
Amortization | (233) | [1] | (216) | [2] | (188) | [3] | |
Impairment losses | 0 | 0 | 0 | ||||
Transfer | 0 | 0 | 0 | ||||
Foreign currencies translation adjustments | 0 | 0 | 0 | ||||
Business combination | 0 | 0 | |||||
Others | 0 | 0 | 0 | ||||
Ending balance | 723 | 709 | 692 | ||||
Development costs | |||||||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||||||
Beginning balance | 208,873 | 225,193 | 240,320 | ||||
Changes in intangible assets and goodwill [abstract] | |||||||
Acquisitions | 74,444 | 53,273 | 41,373 | ||||
Disposal | 0 | 0 | 0 | ||||
Amortization | (80,128) | [1] | (71,620) | [2] | (64,415) | [3] | |
Impairment losses | 0 | 0 | 0 | ||||
Transfer | 4,518 | 428 | 7,915 | ||||
Foreign currencies translation adjustments | 0 | 0 | 0 | ||||
Business combination | 2,403 | 0 | |||||
Others | 1 | (804) | 0 | ||||
Ending balance | 207,708 | 208,873 | 225,193 | ||||
Other intangible assets | |||||||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||||||
Beginning balance | 205,445 | 234,147 | 169,024 | ||||
Changes in intangible assets and goodwill [abstract] | |||||||
Acquisitions | 49,137 | 41,329 | 100,671 | ||||
Disposal | 0 | 0 | 0 | ||||
Amortization | (68,950) | [1] | (64,822) | [2] | (63,810) | [3] | |
Impairment losses | (18) | (7,692) | (25,858) | ||||
Transfer | 2,946 | 164 | 7,188 | ||||
Foreign currencies translation adjustments | 2,952 | (2,208) | 2,292 | ||||
Business combination | 4,199 | 44,365 | |||||
Others | 1,670 | 328 | 275 | ||||
Ending balance | 193,182 | 205,445 | 234,147 | ||||
Membership deposit | |||||||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||||||
Beginning balance | 36,091 | 29,330 | 23,597 | ||||
Changes in intangible assets and goodwill [abstract] | |||||||
Acquisitions | 2,437 | 5,183 | 4,931 | ||||
Disposal | (347) | (782) | (675) | ||||
Amortization | 0 | [1] | 0 | [2] | 0 | [3] | |
Impairment losses | (93) | (99) | (939) | ||||
Transfer | 0 | 0 | 0 | ||||
Foreign currencies translation adjustments | 232 | (15) | 60 | ||||
Business combination | 2,079 | 2,143 | |||||
Others | (713) | 395 | 213 | ||||
Ending balance | 37,607 | 36,091 | 29,330 | ||||
Construction in progress | |||||||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||||||
Beginning balance | 6,669 | 4,066 | 10,415 | ||||
Changes in intangible assets and goodwill [abstract] | |||||||
Acquisitions | 977 | 3,197 | 8,754 | ||||
Disposal | 0 | 0 | 0 | ||||
Amortization | 0 | [1] | 0 | [2] | 0 | [3] | |
Impairment losses | 0 | 0 | 0 | ||||
Transfer | (7,464) | (592) | (15,103) | ||||
Foreign currencies translation adjustments | 0 | (2) | 0 | ||||
Business combination | 0 | 0 | |||||
Others | 535 | 0 | 0 | ||||
Ending balance | ₩ 717 | ₩ 6,669 | ₩ 4,066 | ||||
[1] | Amortization of other intangible assets amounting to 13,963 million Won is included in other operating expenses. | ||||||
[2] | Amortization of other intangible assets amounting to 11,890 million Won is included in other operating expenses. | ||||||
[3] | Amortization of other intangible assets amounting to 22,317 million Won is included in other operating expenses. |
Intangible Assets - Details O_3
Intangible Assets - Details Of Allocated Goodwill Based On Each Cash Generating Unit (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | ||
Disclosure of information for cash-generating units [Line Items] | |||
Goodwill | [1] | ₩ 345,449 | ₩ 334,290 |
Description of basis on which unit's recoverable amount has been determined | The recoverable amount of the cash-generating unit is measured at larger amount among the fair value less costs to sell or the value to use. | ||
Description of valuation techniques used to measure fair value less costs of disposal | The net fair value is calculated by deducting costs of disposal from the amount received from the sale of the cash-generating unit in an arm’s length transaction between the parties with reasonable judgment and willingness to negotiate. In case of difficulty in measuring this amount, the sale amount of a similar cash-generating unit in the past market is calculated by reflecting the characteristics of the cash-generating unit. If reliable information related to fair value less costs to sell is not available, value in use is considered as recoverable amount. Value in use is the present value of future cash flows expected to be generated by the cash-generating unit. | ||
Description of key assumptions on which management has based cash flow projections | Future cash flows are estimated based on the latest financial budget approved by the management, with an estimated period of up to five years. The Group applied 0.0%—1.0% growth rate to estimate future cash flow for the period over five years. The main assumptions used to estimate cash flows are about the size of the market and the share of the group. The appropriate discount rate for discounting future cash flows is the pre-tax discount rate, including assumptions about risk-free interest rates, market risk premium, and systemic risk of cash-generating units. | ||
Explanation of main events and circumstances that led to recognition of impairment losses and reversals of impairment losses | The impairment test, which compares the carrying amount and recoverable amount of the cash-generating unit to which goodwill has been allocated, is conducted every year and every time an impairment sign occurs.As a result of the impairment test on goodwill, it is determined that the carrying amount of the cash-generating unit to which the goodwill has been allocated will not exceed the recoverable amount. | ||
Woori Asset Management Corp. | |||
Disclosure of information for cash-generating units [Line Items] | |||
Goodwill | [1] | ₩ 43,036 | 43,036 |
Discount rate | 17.82% | ||
Terminal growth rate | 1.00% | ||
Recoverable amount | ₩ 137,578 | ||
Carrying amount | 132,601 | ||
Woori Global Asset Management Co., Ltd. | |||
Disclosure of information for cash-generating units [Line Items] | |||
Goodwill | [1] | ₩ 2,030 | 2,030 |
Discount rate | 17.52% | ||
Terminal growth rate | 1.00% | ||
Recoverable amount | ₩ 41,967 | ||
Carrying amount | 29,954 | ||
Woori Asset Trust Co., Ltd. | |||
Disclosure of information for cash-generating units [Line Items] | |||
Goodwill | [1] | ₩ 141,780 | 141,780 |
Discount rate | 18.72% | ||
Terminal growth rate | 1.00% | ||
Recoverable amount | ₩ 326,205 | ||
Carrying amount | 262,116 | ||
PT Bank Woori Saudara Indonesia 1906 Tbk | |||
Disclosure of information for cash-generating units [Line Items] | |||
Goodwill | [1],[2] | ₩ 99,667 | 92,831 |
Discount rate | 11.96% | ||
Terminal growth rate | 0.00% | ||
Recoverable amount | ₩ 606,626 | ||
Carrying amount | 592,136 | ||
WOORI BANK (CAMBODIA) PLC | |||
Disclosure of information for cash-generating units [Line Items] | |||
Goodwill | [1],[3] | ₩ 52,082 | 47,924 |
Discount rate | 12.60% | ||
Terminal growth rate | 0.00% | ||
Recoverable amount | ₩ 369,782 | ||
Carrying amount | 357,902 | ||
Others | |||
Disclosure of information for cash-generating units [Line Items] | |||
Goodwill | [1] | ₩ 6,854 | ₩ 6,689 |
[1] | Allocated to the cash-generating unit that will benefit from the synergy effect of the business combination, and the cash-generating unit is generally comprised of the operating segment or sub-sectors. | ||
[2] | The Group has acquired Saudara Bank to expand retail sales in Indonesia and recognized the goodwill as it is expected to strengthen the competitiveness by securing a local sales network in Indonesia. | ||
[3] | The Group has acquired VisionFund Cambodia to expand Cambodian retail sales, and recognized goodwill based on the economies of scale and acquired customer base. |
Intangible Assets - Sensitivity
Intangible Assets - Sensitivity Analysis For Cash Generating Units (Details) ₩ in Millions | Dec. 31, 2021KRW (₩) | |
Woori Asset Trust Co., Ltd. | Discount rate (%) | Increase by 1% point | ||
Disclosure of sensitivity analysis for cash-generating units [Line Items] | ||
Increase in cash-generating units due to reasonably possible increase in unobservable inputs | ₩ (29,949) | |
Woori Asset Trust Co., Ltd. | Discount rate (%) | Decrease by 1% point | ||
Disclosure of sensitivity analysis for cash-generating units [Line Items] | ||
Decrease in cash-generating units due to reasonably possible decrease in unobservable inputs | 34,863 | |
Woori Asset Trust Co., Ltd. | Terminal growth rate (%) | Increase by 1% point | ||
Disclosure of sensitivity analysis for cash-generating units [Line Items] | ||
Increase in cash-generating units due to reasonably possible increase in unobservable inputs | 18,640 | |
Woori Asset Trust Co., Ltd. | Terminal growth rate (%) | Decrease by 1% point | ||
Disclosure of sensitivity analysis for cash-generating units [Line Items] | ||
Decrease in cash-generating units due to reasonably possible decrease in unobservable inputs | (16,089) | [1] |
Woori Asset Management Corp. | Discount rate (%) | Increase by 1% point | ||
Disclosure of sensitivity analysis for cash-generating units [Line Items] | ||
Increase in cash-generating units due to reasonably possible increase in unobservable inputs | (6,638) | |
Woori Asset Management Corp. | Discount rate (%) | Decrease by 1% point | ||
Disclosure of sensitivity analysis for cash-generating units [Line Items] | ||
Decrease in cash-generating units due to reasonably possible decrease in unobservable inputs | 7,741 | |
Woori Asset Management Corp. | Terminal growth rate (%) | Increase by 1% point | ||
Disclosure of sensitivity analysis for cash-generating units [Line Items] | ||
Increase in cash-generating units due to reasonably possible increase in unobservable inputs | 4,179 | |
Woori Asset Management Corp. | Terminal growth rate (%) | Decrease by 1% point | ||
Disclosure of sensitivity analysis for cash-generating units [Line Items] | ||
Decrease in cash-generating units due to reasonably possible decrease in unobservable inputs | (3,603) | [1] |
Woori Global Asset Management Co., Ltd. | Discount rate (%) | Increase by 1% point | ||
Disclosure of sensitivity analysis for cash-generating units [Line Items] | ||
Increase in cash-generating units due to reasonably possible increase in unobservable inputs | (1,999) | |
Woori Global Asset Management Co., Ltd. | Discount rate (%) | Decrease by 1% point | ||
Disclosure of sensitivity analysis for cash-generating units [Line Items] | ||
Decrease in cash-generating units due to reasonably possible decrease in unobservable inputs | 2,356 | |
Woori Global Asset Management Co., Ltd. | Terminal growth rate (%) | Increase by 1% point | ||
Disclosure of sensitivity analysis for cash-generating units [Line Items] | ||
Increase in cash-generating units due to reasonably possible increase in unobservable inputs | 1,318 | |
Woori Global Asset Management Co., Ltd. | Terminal growth rate (%) | Decrease by 1% point | ||
Disclosure of sensitivity analysis for cash-generating units [Line Items] | ||
Decrease in cash-generating units due to reasonably possible decrease in unobservable inputs | (1,123) | [1] |
PT Bank Woori Saudara Indonesia 1906 Tbk | Discount rate (%) | Increase by 1% point | ||
Disclosure of sensitivity analysis for cash-generating units [Line Items] | ||
Increase in cash-generating units due to reasonably possible increase in unobservable inputs | (62,532) | |
PT Bank Woori Saudara Indonesia 1906 Tbk | Discount rate (%) | Decrease by 1% point | ||
Disclosure of sensitivity analysis for cash-generating units [Line Items] | ||
Decrease in cash-generating units due to reasonably possible decrease in unobservable inputs | 74,238 | |
PT Bank Woori Saudara Indonesia 1906 Tbk | Terminal growth rate (%) | Increase by 1% point | ||
Disclosure of sensitivity analysis for cash-generating units [Line Items] | ||
Increase in cash-generating units due to reasonably possible increase in unobservable inputs | 47,187 | |
PT Bank Woori Saudara Indonesia 1906 Tbk | Terminal growth rate (%) | Decrease by 1% point | ||
Disclosure of sensitivity analysis for cash-generating units [Line Items] | ||
Decrease in cash-generating units due to reasonably possible decrease in unobservable inputs | 0 | [1] |
WOORI BANK (CAMBODIA) PLC | Discount rate (%) | Increase by 1% point | ||
Disclosure of sensitivity analysis for cash-generating units [Line Items] | ||
Increase in cash-generating units due to reasonably possible increase in unobservable inputs | (30,603) | |
WOORI BANK (CAMBODIA) PLC | Discount rate (%) | Decrease by 1% point | ||
Disclosure of sensitivity analysis for cash-generating units [Line Items] | ||
Decrease in cash-generating units due to reasonably possible decrease in unobservable inputs | 35,994 | |
WOORI BANK (CAMBODIA) PLC | Terminal growth rate (%) | Increase by 1% point | ||
Disclosure of sensitivity analysis for cash-generating units [Line Items] | ||
Increase in cash-generating units due to reasonably possible increase in unobservable inputs | 20,339 | |
WOORI BANK (CAMBODIA) PLC | Terminal growth rate (%) | Decrease by 1% point | ||
Disclosure of sensitivity analysis for cash-generating units [Line Items] | ||
Decrease in cash-generating units due to reasonably possible decrease in unobservable inputs | ₩ 0 | [1] |
[1] | In the case of PT Bank Woori Saudara Indonesia 1906 Tbk and and WOORI BANK (CAMBODIA) PLC, declining cases are excluded from the analysis as the permanent growth rate was assumed to be 0%. |
Assets held for sale - Details
Assets held for sale - Details of assets held for sale (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021KRW (₩) | Dec. 31, 2020KRW (₩) | Dec. 31, 2021USD ($) | |
Assets or disposal groups classified as held for sale [Line Items] | |||
Total | ₩ 26,327 | ₩ 60,002 | $ 22,150 |
Explanation of facts and circumstances of sale or reclassification and expected disposal, manner and timing | The Group has decided to sell some of the premises and equipment through internal consultation during the current term and classifies the premises as non-current assets held for sale. The asset is expected to be sold within 12 months, and the premises and equipment that was scheduled to be sold at the end of the prior year has been sold and removed. In addition, the investment assets of the associates, which are counted as assets held for sale as of the end of the current term, are likely to be sold within one year of the end of the current term according to the management’s decision. On the other hand, other assets that are expected to be sold as of the end of the current term are classified as assets that are expected to be sold within one year due to the possibility of being sold as buildings and land acquired through auction. | The Group has decided to sell some of the premises and equipment through internal consultation during the current term and classifies the premises as non-current assets held for sale. The asset is expected to be sold within 12 months, and the premises and equipment that was scheduled to be sold at the end of the prior year has been sold and removed. In addition, the investment assets of the associates, which are counted as assets held for sale as of the end of the current term, are likely to be sold within one year of the end of the current term according to the management’s decision. On the other hand, other assets that are expected to be sold as of the end of the current term are classified as assets that are expected to be sold within one year due to the possibility of being sold as buildings and land acquired through auction. | |
Premises and equipment | |||
Assets or disposal groups classified as held for sale [Line Items] | |||
Total | ₩ 8,900 | ₩ 2,130 | |
Investments of associates | |||
Assets or disposal groups classified as held for sale [Line Items] | |||
Total | 11,472 | 50,411 | |
Others | |||
Assets or disposal groups classified as held for sale [Line Items] | |||
Total | ₩ 5,955 | ₩ 7,461 |
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, 2021 | Dec. 31, 2020 | |||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 17,395,551 | ₩ 14,797,621 | ||
Due from banks in local currency | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 1,500 | ₩ 1,500 | ||
Collateral given to | Daishin AMC Co.,Ltd. and others | Daishin AMC Co.,Ltd. and others | ||
Reason for collateral | Right of pledge | Right of pledge | ||
Korean treasury and government bonds and others | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 470 | ₩ 473 | ||
Collateral given to | Korea Securities Depository | Korea Securities Depository | ||
Reason for collateral | [1] | Related to bonds sold under repurchase agreements(*) | Related to bonds sold under repurchase agreements(*) | |
Korean treasury and government bonds and others | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 248,009 | ₩ 259,835 | ||
Collateral given to | Nonghyup bank and others | Kookmin bank and others | ||
Reason for collateral | [1] | Related to bonds sold under repurchase agreements | Related to bonds sold under repurchase agreements | |
Land and building | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 1,910 | ₩ 5,676 | ||
Collateral given to | Credit Counselling & Recovery Service and others | Credit Counselling & Recovery Service and others | ||
Reason for collateral | Right to collateral and others | Right to collateral and others | ||
Korean financial institutions' debt securities and others | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 3,666,849 | ₩ 1,621,941 | ||
Collateral given to | The BOK and others | The BOK and others | ||
Reason for collateral | Settlement risk and others | Settlement risk and others | ||
Korean treasury and government bonds and others | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 179,079 | ₩ 157,021 | ||
Collateral given to | Korea Securities Depository | Korea Securities Depository | ||
Reason for collateral | Securities borrowing collateral | Securities borrowing collateral | ||
Other due from banks in local currency | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 25,338 | ₩ 39,005 | ||
Collateral given to | Samsung Securities Co., Ltd. and others | Samsung Securities Co., Ltd. and others | ||
Reason for collateral | Margin deposit for futures or option | Margin deposit for futures or option | ||
Korean treasury and government bonds and others | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 3,008 | ₩ 42,428 | ||
Collateral given to | VI Investment, etc. | Shinhan Investment Corp. | ||
Reason for collateral | Future trading collateral | Collateral for futures transaction | ||
Other due from banks in local currency | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 47,805 | |||
Collateral given to | Korea Federation of Savings Banks | |||
Reason for collateral | Domestic exchange business | |||
Foreign financial institutions' debt securities | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 126,595 | ₩ 137,842 | ||
Collateral given to | STANDARD BANKLONDON LTD | STANDARD BANK LONDON LTD | ||
Reason for collateral | [1] | Related to bonds sold under repurchase agreements(*) | Related to bonds sold under repurchase agreements | |
Korean treasury and government bonds and others | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 8,977,748 | ₩ 8,111,193 | ||
Collateral given to | The BOK and others | The BOK and others | ||
Reason for collateral | Settlement risk and others | Settlement risk and others | ||
Foreign financial institutions' debt securities | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 38,995 | ₩ 40,987 | ||
Collateral given to | NATIXIS and others | NATIXIS and others | ||
Reason for collateral | [1] | Related to bonds sold under repurchase agreements(*) | Related to bonds sold under repurchase agreements | |
Foreign currency loan bonds | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 50,088 | |||
Collateral given to | Industrial and Commercial Bank of China | |||
Reason for collateral | [1] | Related to bonds sold under repurchase agreements | ||
Foreign financial institutions' debt securities | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 10,375 | ₩ 14,377 | ||
Collateral given to | FHLB ADVANCE and others | Federal Reserve Bank | ||
Reason for collateral | Related to the borrowing limit | Related to the borrowing limit | ||
Other due from banks in foreign currencies | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 1,051,006 | ₩ 755,177 | ||
Collateral given to | Yuanta Securities Korea Co., Ltd., etc. | JPMORGAN CHASE BANK and others | ||
Reason for collateral | Overseas futures option deposit, etc. | Collateral for CSA and others | ||
Korean financial institutions' debt securities and others | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 54,419 | ₩ 150,496 | ||
Collateral given to | KOREA SECURITIES FINANCE CORPORATION | Kookmin bank and others | ||
Reason for collateral | Collateral for securities lending purposes | Related to bonds sold under repurchase agreements | [1] | |
Korean corporate bonds and others | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 299,161 | |||
Collateral given to | Korea Securities Depository | |||
Reason for collateral | Securities borrowing collateral | |||
Mortgage loan | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 2,494,333 | ₩ 3,190,889 | ||
Collateral given to | Public offering | Public offering | ||
Reason for collateral | Related to covered bonds | Related to covered bonds | ||
Korean Capital Contributions And Others Of Financial Assets At Fair Value Through Profit Or Loss Category | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 101 | |||
Collateral given to | Korea Software Financial Cooperative | |||
Reason for collateral | Bid guarantee, etc. | |||
Korean financial institutions' debt securities and others | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 5,352 | ₩ 19,958 | ||
Collateral given to | Shinhan Investment Corp. | TIMEFOLIO Co., Ltd. | ||
Reason for collateral | Collateral for futures transaction | Collateral for futures transaction | ||
Korean financial institutions' debt securities and others | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 205,783 | ₩ 148,961 | ||
Collateral given to | Korea Securities Depository | Korea Securities Depository | ||
Reason for collateral | Securities borrowing collateral | Securities borrowing collateral | ||
Premises and Equipment Land and Buildings [Member] | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 5,520 | ₩ 1,969 | ||
Collateral given to | Credit Counselling & Recovery Service and others | Credit Counselling & Recovery Service and others | ||
Reason for collateral | Right to collateral and others | Right to collateral 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). The asset is equivalent to a mortgage-backed debt security. |
Assets subject to lien and as_4
Assets subject to lien and assets acquired through foreclosures - Carrying amounts of assets acquired through foreclosure (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |
Investment properties | |||
Land | ₩ 2,185 | ₩ 5,425 | |
Building | 181 | ||
Sub-total | 2,366 | 5,425 | |
Other assets | |||
Land for non-business use | 21,156 | 10,684 | |
Building for non-business use | [1] | 1,526 | 1,966 |
Movables for non-business use | [2] | 120 | 155 |
Real estate assessment provision for non-business use | (1,129) | (670) | |
Sub-total | 21,673 | 12,135 | |
Assets held for sale | |||
Land | 2,980 | 5,477 | |
Buildings | 2,557 | 3,568 | |
Others | 418 | 546 | |
Sub-total | 5,955 | 9,591 | |
Total | ₩ 29,994 | ₩ 27,151 | |
[1] | The cumulative depreciation amount as of December 31, 2020 and 2021 is 566 million Won and 716 million Won, respectively. | ||
[2] | The cumulative depreciation amount as of December 31, 2020 and 2021 is 854 million Won and 907 million Won, respectively. |
Assets subject to lien and as_5
Assets subject to lien and assets acquired through foreclosures - Carrying amounts of assets acquired through foreclosure (Parenthetical) (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Building For Nonbusiness Use [Member] | ||
Statement One [Line Items] | ||
Cumulative depreciation amount | ₩ 716 | ₩ 566 |
Movables For Nonbusiness Use [Member] | ||
Statement One [Line Items] | ||
Cumulative depreciation amount | ₩ 907 | ₩ 854 |
Assets subject to lien and as_6
Assets subject to lien and assets acquired through foreclosures - Details of securities loned (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | ||
Assets that entity continues to recognise | ₩ 414,069 | ₩ 639,721 |
Korean treasury and government bonds and others | ||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | ||
Assets that entity continues to recognise | ₩ 98,535 | ₩ 100,345 |
Description of nature of transferred financial assets that are not derecognised in their entirety | Securities loaned are lending of specific securities to borrowers who agree to return the same amount of the same security at the end of lending period, and therefore the Group did not derecognize from the consolidated financial statements. | Securities loaned are lending of specific securities to borrowers who agree to return the same amount of the same security at the end of lending period, and therefore the Group did not derecognize from the consolidated financial statements. |
Loaned to | Korea Securities Finance Corporation | Korea Securities Finance Corporation |
Assets subject to lien and as_7
Assets subject to lien and assets acquired through foreclosures - Collaterals held that can be disposed and resubjected to lien regardless of defaults of counterparties (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Fair value of collateral available to sell or repledge and collateral sold or repledged [Line Items] | ||
Fair values of collaterals | ₩ 10,785,412 | ₩ 10,573,982 |
Fair values of collaterals were disposed or re-subjected to lien | ₩ 0 | ₩ 0 |
Other assets - Details of other
Other assets - Details of other assets (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) |
Other assests [Line Items] | |||
Total | ₩ 2,088,950 | $ 1,757,488 | ₩ 1,348,994 |
Lease assets | |||
Other assests [Line Items] | |||
Total | 1,782,887 | 1,116,175 | |
Prepaid expenses | |||
Other assests [Line Items] | |||
Total | 189,808 | 170,820 | |
Advance payments | |||
Other assests [Line Items] | |||
Total | 61,042 | 28,256 | |
Assets for non-business use | |||
Other assests [Line Items] | |||
Total | 16,248 | 12,135 | |
Others | |||
Other assests [Line Items] | |||
Total | ₩ 38,965 | ₩ 21,608 |
Financial Liabilities at FVTP_2
Financial Liabilities at FVTPL - Summary Of Financial Liabilities At FVTPL (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) |
Disclosure of financial liabilities at fair value through profit or loss [Line Items] | |||
Financial liabilities at fair value through profit or loss measured at fair value | ₩ 4,873,458 | ₩ 6,794,192 | |
Financial liabilities designated at FVTPL | 0 | 19,630 | |
Total | 4,873,458 | $ 4,100,167 | 6,813,822 |
Financial liabilities at fair value through profit or loss 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 measured at fair value | 4,873,458 | 6,794,192 | |
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 measured at fair value | 65,016 | 49,279 | |
Securities sold | |||
Disclosure of financial liabilities at fair value through profit or loss [Line Items] | |||
Financial liabilities at fair value through profit or loss measured at fair value | 241,174 | 285,026 | |
Derivative liabilities | |||
Disclosure of financial liabilities at fair value through profit or loss [Line Items] | |||
Financial liabilities at fair value through profit or loss measured at fair value | 4,567,268 | 6,459,887 | |
Equity-linked securities in short position | |||
Disclosure of financial liabilities at fair value through profit or loss [Line Items] | |||
Financial liabilities designated at FVTPL | ₩ 0 | ₩ 19,630 |
Financial Liabilities at FVTP_3
Financial Liabilities at FVTPL - Summary Of Credit Risk Adjustments To Financial Liabilities At FVTPL (Details) | 12 Months Ended |
Dec. 31, 2021KRW (₩) | |
Designated financial liabilities at fair value through profit or loss [abstract] | |
Accumulated changes in credit risk adjustments | ₩ 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. The Group’s credit risk is determined by adjusting credit spread observed in credit rating of Group. |
Financial Liabilities at FVTP_4
Financial Liabilities at FVTPL - Summary Of Differences Between Carrying Amount And Maturity Amount Of Financial Liabilities At Fair Value Through Profit Or Loss Designated As Upon Initial Recognition (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
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 | ₩ 0 | ₩ 19,630 |
Nominal amount at maturity | 0 | 25,780 |
Difference | ₩ 0 | ₩ (6,150) |
Deposits due to customers - Det
Deposits due to customers - Details of deposits due to customers by type (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021KRW (₩) | Dec. 31, 2020KRW (₩) | Dec. 31, 2021USD ($) | |
Disclosure of deposits from customers [Line Items] | |||
Present value discount | ₩ (36,826) | ₩ (12,245) | |
Total | 317,899,871 | 291,477,279 | $ 267,457,405 |
Deposits in local currency | |||
Disclosure of deposits from customers [Line Items] | |||
Gross carrying amount | 280,292,797 | 261,080,762 | |
Deposits on demand | Gross carrying amount [member] | |||
Disclosure of deposits from customers [Line Items] | |||
Gross carrying amount | 18,029,136 | 12,454,024 | |
Deposits at termination | Gross carrying amount [member] | |||
Disclosure of deposits from customers [Line Items] | |||
Gross carrying amount | 254,319,473 | 242,397,664 | |
Mutual installment | Gross carrying amount [member] | |||
Disclosure of deposits from customers [Line Items] | |||
Gross carrying amount | 24,620 | 26,319 | |
Deposits on notes payables | Gross carrying amount [member] | |||
Disclosure of deposits from customers [Line Items] | |||
Gross carrying amount | 2,954,066 | 2,647,492 | |
Deposits on CMA | Gross carrying amount [member] | |||
Disclosure of deposits from customers [Line Items] | |||
Gross carrying amount | 92,360 | 110,413 | |
Certificate of deposits | Gross carrying amount [member] | |||
Disclosure of deposits from customers [Line Items] | |||
Gross carrying amount | 3,586,423 | 2,072,389 | |
Other deposits | Gross carrying amount [member] | |||
Disclosure of deposits from customers [Line Items] | |||
Gross carrying amount | 1,286,719 | 1,372,461 | |
Deposits in foreign currencies | Gross carrying amount [member] | |||
Disclosure of deposits from customers [Line Items] | |||
Gross carrying amount | ₩ 37,643,900 | ₩ 30,408,762 |
Borrowings And Debentures - Det
Borrowings And Debentures - Details Of Borrowings (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021KRW (₩) | Dec. 31, 2020KRW (₩) | Dec. 31, 2021USD ($) | |
Disclosure of detailed information about borrowings [line items] | |||
Total | ₩ 24,755,459 | ₩ 20,745,466 | $ 20,827,410 |
Present value discount | |||
Disclosure of detailed information about borrowings [line items] | |||
Notional Amount | ₩ (49,692) | ₩ (560) | |
Borrowings from The BOK | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 0.30% | 0.30% | 0.30% |
Borrowings from The BOK | Total | |||
Disclosure of detailed information about borrowings [line items] | |||
Notional Amount | ₩ 3,144,897 | ₩ 2,678,120 | |
Lenders | The BOK | The BOK | |
Borrowings in local currency | |||
Disclosure of detailed information about borrowings [line items] | |||
Notional Amount | ₩ 15,183,026 | ₩ 12,089,187 | |
Borrowings from government funds | Minimum | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 0.00% | 0.00% | 0.00% |
Borrowings from government funds | Maximum | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 2.40% | 5.00% | 2.40% |
Borrowings from government funds | Total | |||
Disclosure of detailed information about borrowings [line items] | |||
Notional Amount | ₩ 2,053,611 | ₩ 2,155,129 | |
Lenders | Small Enterprise And Market Service and others | Small Enterprise And Market Service and others | |
Borrowings in foreign currencies | |||
Disclosure of detailed information about borrowings [line items] | |||
Lenders | JPMorgan Chase & Co. and others | JPMorgan Chase & Co. and others | |
Borrowings in foreign currencies | Minimum | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | (0.50%) | (0.40%) | (0.50%) |
Borrowings in foreign currencies | Maximum | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 7.30% | 7.30% | 7.30% |
Borrowings in foreign currencies | Total | |||
Disclosure of detailed information about borrowings [line items] | |||
Notional Amount | ₩ 8,545,077 | ₩ 7,573,722 | |
Others | Minimum | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 0.00% | 0.00% | 0.00% |
Others | Maximum | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 3.10% | 5.50% | 3.10% |
Others | Total | |||
Disclosure of detailed information about borrowings [line items] | |||
Notional Amount | ₩ 9,984,518 | ₩ 7,255,938 | |
Lenders | The Korea Development Bank and others | The Korea Development Bank and others | |
Bills sold | Minimum | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 0.00% | 0.00% | 0.00% |
Bills sold | Maximum | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 1.30% | 0.90% | 1.30% |
Bills sold | Total | |||
Disclosure of detailed information about borrowings [line items] | |||
Notional Amount | ₩ 9,111 | ₩ 8,924 | |
Lenders | Others | Others | |
Call money | Minimum | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | (0.50%) | (0.30%) | (0.50%) |
Call money | Maximum | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 2.60% | 3.80% | 2.60% |
Call money | Total | |||
Disclosure of detailed information about borrowings [line items] | |||
Notional Amount | ₩ 317,961 | ₩ 416,370 | |
Lenders | Bank and others | Bank and others | |
Bonds sold under repurchase agreements | Minimum | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | (0.50%) | (0.50%) | (0.50%) |
Bonds sold under repurchase agreements | Maximum | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 10.60% | 10.60% | 10.60% |
Bonds sold under repurchase agreements | Total | |||
Disclosure of detailed information about borrowings [line items] | |||
Notional Amount | ₩ 749,976 | ₩ 657,823 | |
Lenders | Other financial institutions | Other financial institutions |
Borrowings And Debentures - D_2
Borrowings And Debentures - Details Of Debentures (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021KRW (₩) | Dec. 31, 2020KRW (₩) | Dec. 31, 2021USD ($) | ||
Disclosure of detailed information about debentures [Line Items] | ||||
Gross carrying amount | [1] | ₩ 44,683,574 | ₩ 37,504,637 | |
Discounts on bonds | [1] | (29,710) | (25,279) | |
Total | 44,653,864 | 37,479,358 | $ 37,568,454 | |
Fair value hedged amount of debentures | 2,366,724 | 2,767,208 | ||
Cash flow hedged amount of debentures | 819,298 | 857,531 | ||
Ordinary bonds | Gross carrying amount [Member] | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Gross carrying amount | [1] | ₩ 37,004,942 | ₩ 29,623,445 | |
Ordinary bonds | Gross carrying amount [Member] | Bottom of range [Member] | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Interest rate | [1] | 0.70% | 0.80% | |
Ordinary bonds | Gross carrying amount [Member] | Top of range [Member] | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Interest rate | [1] | 3.60% | 4.50% | |
Subordinated bonds | Bottom of range [Member] | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Interest rate | [1] | 1.90% | 1.90% | |
Subordinated bonds | Top of range [Member] | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Interest rate | [1] | 5.10% | 5.90% | |
Subordinated bonds | Gross carrying amount [Member] | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Gross carrying amount | [1] | ₩ 6,767,442 | ₩ 6,955,515 | |
Other bonds | Bottom of range [Member] | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Interest rate | [1] | 0.80% | 0.60% | |
Other bonds | Top of range [Member] | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Interest rate | [1] | 17.00% | 17.00% | |
Other bonds | Gross carrying amount [Member] | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Gross carrying amount | [1] | ₩ 911,190 | ₩ 925,677 | |
[1] | Included debentures under fair value hedge amounting to and 2,767,208 million Won and 2,366,724 million Won as of December 31, 2020 and 2021 respectively. Also, debentures under cash flow hedge amounting to 857,531 million Won and 819,298 million Won are included as of December 31, 2020 and 2021 respectively. |
Provisions - Summary Of Details
Provisions - Summary Of Details Of Provisions (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | |
Disclosure of other provisions [line items] | ||||
Provisions | ₩ 576,134 | $ 484,716 | ₩ 501,643 | |
Asset retirement obligation | ||||
Disclosure of other provisions [line items] | ||||
Provisions | 80,777 | 68,402 | ||
Provision for guarantees | ||||
Disclosure of other provisions [line items] | ||||
Provisions | [1] | 74,866 | 89,592 | |
Provision for financial guarantee contract | 53,321 | 66,232 | ||
Provisions for unused loan commitments | ||||
Disclosure of other provisions [line items] | ||||
Provisions | 112,296 | 122,155 | ||
Other provisions | ||||
Disclosure of other provisions [line items] | ||||
Provisions | [2] | ₩ 308,195 | ₩ 221,494 | |
[1] | Provisions for guarantees includes provision for financial guarantee of 66,232 million Won and 53,321 million Won as of December 31, 2020 and 2021, respectively. | |||
[2] | Other provisions consist of provision for litigation, loss compensation and others. |
Provisions - Summary Of Changes
Provisions - Summary Of Changes In Provisions On Guarantees (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||||
Reconciliation of changes in provisions for payment guarantee [Abstract] | ||||||
Beginning balance | ₩ 89,592 | ₩ 92,486 | ₩ 89,761 | |||
Changes in provisions for payment guarantee [Abstract] | ||||||
Transfer to 12-month expected credit loss | 0 | 0 | 0 | |||
Transfer to expected credit loss for the entire period | 0 | 0 | 0 | |||
Transfer to credit-impaired financial assets | 0 | 0 | 0 | |||
Provisions used | (6,964) | (18,348) | (27,711) | |||
Net provision (reversal) of unused amount | (10,701) | 14,501 | (4,352) | |||
Others | 2,939 | [1] | 953 | [1] | 34,788 | [2] |
Ending balance | 74,866 | 89,592 | 92,486 | |||
Stage 1 | ||||||
Reconciliation of changes in provisions for payment guarantee [Abstract] | ||||||
Beginning balance | 64,804 | 50,801 | 44,903 | |||
Changes in provisions for payment guarantee [Abstract] | ||||||
Transfer to 12-month expected credit loss | 2,146 | 81 | 13,568 | |||
Transfer to expected credit loss for the entire period | (162) | (396) | (317) | |||
Transfer to credit-impaired financial assets | (3) | (12) | (30) | |||
Provisions used | (6,964) | (1,124) | (27,711) | |||
Net provision (reversal) of unused amount | (9,929) | 14,501 | (14,400) | |||
Others | 2,938 | [1] | 953 | [1] | 34,788 | [2] |
Ending balance | 52,830 | 64,804 | 50,801 | |||
Stage 2 | ||||||
Reconciliation of changes in provisions for payment guarantee [Abstract] | ||||||
Beginning balance | 16,745 | 26,303 | 33,760 | |||
Changes in provisions for payment guarantee [Abstract] | ||||||
Transfer to 12-month expected credit loss | (2,144) | (60) | (13,568) | |||
Transfer to expected credit loss for the entire period | 193 | 1,639 | 532 | |||
Transfer to credit-impaired financial assets | (162) | (13) | (32) | |||
Provisions used | 0 | (11,124) | 0 | |||
Net provision (reversal) of unused amount | 636 | 0 | 5,611 | |||
Others | 1 | [1] | 0 | [1] | 0 | [2] |
Ending balance | 15,269 | 16,745 | 26,303 | |||
Stage 3 | ||||||
Reconciliation of changes in provisions for payment guarantee [Abstract] | ||||||
Beginning balance | 8,043 | 15,382 | 11,098 | |||
Changes in provisions for payment guarantee [Abstract] | ||||||
Transfer to 12-month expected credit loss | (2) | (21) | 0 | |||
Transfer to expected credit loss for the entire period | (31) | (1,243) | (215) | |||
Transfer to credit-impaired financial assets | 165 | 25 | 62 | |||
Provisions used | 0 | (6,100) | 0 | |||
Net provision (reversal) of unused amount | (1,408) | 0 | 4,437 | |||
Others | 0 | [1] | 0 | [1] | 0 | [2] |
Ending balance | ₩ 6,767 | ₩ 8,043 | ₩ 15,382 | |||
[1] | Includes the impact from change of financial guarantee liability. | |||||
[2] | Others have occurred as a result of new financial guarantee contract valued at initial fair value. |
Provisions - Summary Of Chang_2
Provisions - Summary Of Changes In Provisions On Unused Loan Commitments (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Reconciliation of changes in provisions for credit commitment [Abstract] | |||
Beginning balance | ₩ 122,155 | ₩ 112,554 | ₩ 121,535 |
Changes in provisions for credit commitment [Abstract] | |||
Transfer to 12-month expected credit loss | 0 | 0 | 0 |
Transfer to expected credit loss for the entire period | 0 | 0 | 0 |
Transfer to credit-impaired financial assets | 0 | 0 | 0 |
Net provision for (reversal of) unused amount | (9,991) | 9,874 | (9,044) |
Business Combination | 7 | ||
Others | 132 | (280) | 63 |
Ending balance | 112,296 | 122,155 | 112,554 |
Stage 1 | |||
Reconciliation of changes in provisions for credit commitment [Abstract] | |||
Beginning balance | 63,240 | 65,038 | 74,624 |
Changes in provisions for credit commitment [Abstract] | |||
Transfer to 12-month expected credit loss | 15,522 | 8,006 | 11,771 |
Transfer to expected credit loss for the entire period | (2,338) | (2,704) | (1,813) |
Transfer to credit-impaired financial assets | (110) | (174) | (213) |
Net provision for (reversal of) unused amount | (9,005) | (6,653) | (19,394) |
Business Combination | 7 | ||
Others | 131 | (280) | 63 |
Ending balance | 67,440 | 63,240 | 65,038 |
Stage 2 | |||
Reconciliation of changes in provisions for credit commitment [Abstract] | |||
Beginning balance | 55,726 | 43,164 | 45,285 |
Changes in provisions for credit commitment [Abstract] | |||
Transfer to 12-month expected credit loss | (14,965) | (7,500) | (11,024) |
Transfer to expected credit loss for the entire period | 3,129 | 3,299 | 1,945 |
Transfer to credit-impaired financial assets | (226) | (186) | (275) |
Net provision for (reversal of) unused amount | 871 | 16,949 | 7,233 |
Business Combination | 0 | ||
Others | 1 | 0 | 0 |
Ending balance | 44,536 | 55,726 | 43,164 |
Stage 3 | |||
Reconciliation of changes in provisions for credit commitment [Abstract] | |||
Beginning balance | 3,189 | 4,352 | 1,626 |
Changes in provisions for credit commitment [Abstract] | |||
Transfer to 12-month expected credit loss | (557) | (506) | (747) |
Transfer to expected credit loss for the entire period | (791) | (595) | (132) |
Transfer to credit-impaired financial assets | 336 | 360 | 488 |
Net provision for (reversal of) unused amount | (1,857) | (422) | 3,117 |
Business Combination | 0 | ||
Others | 0 | 0 | 0 |
Ending balance | ₩ 320 | ₩ 3,189 | ₩ 4,352 |
Provisions - Summary Of Chang_3
Provisions - Summary Of Changes In Asset Retirement Obligation (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Reconciliation of changes in provision for decommissioning restoration and rehabilitation costs [Abstract] | |||
Beginning balance | ₩ 68,402 | ₩ 66,485 | ₩ 67,200 |
Changes in provision for decommissioning restoration and rehabilitation costs [Abstract] | |||
Provisions provided | 3,235 | 806 | 2,729 |
Provisions used | (5,066) | (2,958) | (2,276) |
Reversal of provisions unused | (947) | (106) | (2,926) |
Unwinding of discount | 495 | 459 | 435 |
Business combination | 0 | 219 | 329 |
Increase (decrease) of restoration expense, etc. | 14,658 | 3,497 | 994 |
Ending balance | ₩ 80,777 | ₩ 68,402 | ₩ 66,485 |
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 - Summary Of Chang_4
Provisions - Summary Of Changes In Other Obligation (Details) - Other provisions except for provision for decommissioning restoration and rehabilitation costs [Member] - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Reconciliation of changes in other provisions [abstract] | |||
Beginning balance | ₩ 221,494 | ₩ 172,455 | ₩ 63,637 |
Changes in other provisions [abstract] | |||
Provisions provided | 85,706 | 232,629 | 109,875 |
Provisions used | (10,375) | (181,433) | (6,123) |
Reversal of provisions unused | (718) | (2,345) | (171) |
Foreign currencies translation adjustments | 11,957 | 606 | 1,193 |
Transfer | 0 | (344) | 0 |
Business combination | 0 | 0 | 3,820 |
Others | 131 | (74) | 224 |
Ending balance | ₩ 308,195 | ₩ 221,494 | ₩ 172,455 |
Provisions - Others (Details)
Provisions - Others (Details) ₩ in Millions | 12 Months Ended |
Dec. 31, 2021KRW (₩) | |
Statement [Line Items] | |
Description of nature of obligation, other provisions | 1) The Group has been offering Korean won settlement services for trade with Korea and Iran; however, the Group has stopped the services for trade in line with U.S. economic sanctions on September 23, 2019. The Group resumed the service humanitarian goods trade only since July 13, 2020. In connection with these services, the Group is currently being investigated by the U.S. government agencies including the U.S. prosecutors (United States Attorney’s Office and New York State Attorney General’s Office) and New York State Financial Supervisory Service 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 U.S. In this regard, the Bureau of Foreign Assets Control concluded its investigation in December 2020 without taking any additional sanctions, but the investigation procedures of the U.S. Public Prosecutors’ Office and the New York State Financial Supervisory Service have yet to be completed. 2) The Group recognized the provision for the estimated compensation amount related to the miss-selling of the Derivative Linked Fund (DLF) incurred during 2019 and a fine expected to be imposed by the Financial Supervisory Service as the best estimate for the expenditure required to meet its obligations at the end of the reporting period. 3) For the year ended December 31, 2021, the Group recognized the provisions for the required expenditure as the best estimate to fulfill its obligations as of December 31, 2021 due to the expected losses of clients arising from the delay in the redemption of funds by Lime Asset Management and the dispute settlement by the Financial Supervisory Service. As of December 31, 2021, the provision for this case is 114.9 billion Won and the advance payment is 7.2 billion Won. 4) On October 22, 2021, the Group made a resolution to pay in advance for Platform Asia funds, etc., which are delayed in redemption at the Board of Directors Meeting of Woori Bank, the subsidiary. Provisions for estimated compensation amounts related to the prepayment was recognized as the best estimate of the expenditure. As of December 31, 2021, the sales revenue for Platform Asia, Heritage DLS, and Gen2 DLS sold 85 billion won, 22.3 billion won, and 90.2 billion won, respectively, and provisions is 35.7 billion won, 13.4 billion won, and 10.8 billion won, respectively. In addition, the provision for the expected fine related to incomplete sales of Heritage DLS is 700 million won. |
Asset recognised for expected reimbursement, other provisions | ₩ 114,900 |
Expected reimbursement, other provisions | 7,200 |
Platform Asia [Member] | |
Statement [Line Items] | |
Provision used | 85,000 |
New provisions | 35,700 |
Heritage DLS [Member] | |
Statement [Line Items] | |
Provision used | 22,300 |
New provisions | 13,400 |
Estimated financial effect of contingent liabilities | 700 |
Gen2 DLS [Member] | |
Statement [Line Items] | |
Provision used | 90,200 |
New provisions | ₩ 10,800 |
Net Defined Benefit Liability_3
Net Defined Benefit Liability (Asset) - Summary Of Details Of Net Defined Benefit Liability (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021KRW (₩) | Dec. 31, 2020KRW (₩) | Dec. 31, 2021USD ($) | |
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 salary 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 salary 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 | 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. | 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 | ₩ 1,618,098 | ₩ 1,610,680 | |
Fair value of plan assets | (1,591,458) | (1,564,101) | |
Net defined benefit liability | 26,640 | 46,579 | |
Net defined benefit asset | 21,346 | 5,658 | $ 17,959 |
Net defined benefit liability | ₩ 47,986 | ₩ 52,237 | $ 40,372 |
Net Defined Benefit Liability_4
Net Defined Benefit Liability (Asset) - Summary Of Changes In The Carrying Value Of Defined Benefit Obligation And The Plan Assets (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Disclosure of net defined benefit liability (asset) [line items] | ||||
Beginning balance | ₩ 46,579 | |||
Changes in net defined benefit liability (asset) [abstract] | ||||
Current service cost | 178,416 | ₩ 174,509 | ₩ 163,369 | |
Interest cost | (1,113) | 119 | 1,756 | |
Remeasurements | [1] | 89,751 | 13,492 | (48,641) |
Ending balance | 26,640 | 46,579 | ||
Present value of defined benefit obligation | ||||
Disclosure of net defined benefit liability (asset) [line items] | ||||
Beginning balance | 1,610,680 | 1,442,859 | 1,275,020 | |
Changes in net defined benefit liability (asset) [abstract] | ||||
Current service cost | 178,416 | 174,509 | 163,369 | |
Transfer-in / out | 0 | 0 | 93 | |
Interest cost | 39,814 | 34,653 | 32,693 | |
Financial assumptions | (92,367) | (20,838) | 32,831 | |
Demographic assumptions | (251) | 4,161 | 49,453 | |
Experience adjustments | (12,155) | (4,481) | (33,518) | |
Foreign currencies translation adjustments | 165 | (119) | 179 | |
Retirement benefit paid | (106,050) | (55,864) | (79,908) | |
Business combination | 0 | 34,001 | 4,674 | |
Others | (154) | 1,799 | (2,027) | |
Ending balance | 1,618,098 | 1,610,680 | 1,442,859 | |
Fair value of plan assets | ||||
Disclosure of net defined benefit liability (asset) [line items] | ||||
Beginning balance | 1,564,101 | 1,352,971 | 1,101,911 | |
Changes in net defined benefit liability (asset) [abstract] | ||||
Transfer-in / out | 0 | 0 | 93 | |
Interest cost | 40,927 | 34,534 | 30,937 | |
Remeasurements | (15,022) | (7,666) | 125 | |
Employer's contributions | 103,251 | 211,505 | 292,095 | |
Retirement benefit paid | (99,523) | (52,627) | (76,304) | |
Business combination | 0 | 27,599 | 6,369 | |
Others | (2,276) | (2,215) | (2,255) | |
Ending balance | ₩ 1,591,458 | ₩ 1,564,101 | ₩ 1,352,971 | |
[1] | Amount before tax |
Net Defined Benefit Liability_5
Net Defined Benefit Liability (Asset) - Summary Of Fair Value Of Plan Assets (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of fair value of plan assets [abstract] | ||
Cash and due from banks | ₩ 1,591,458 | ₩ 1,564,101 |
Return on plan assets, net defined benefit liability (asset) | 25,905 | ₩ 26,868 |
Estimate of contributions expected to be paid to plan | ₩ 162,374 |
Net Defined Benefit Liability_6
Net Defined Benefit Liability (Asset) - Summary Of Current Service Cost, Net Interest Income, Loss (Gain) On The Curtailment Or Settlement And Remeasurements (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Disclosure of postemployment benefits expense recognized in net income and total comprehensive income [Abstract] | ||||
Current service cost | ₩ 178,416 | ₩ 174,509 | ₩ 163,369 | |
Cost recognized in net income | 177,303 | 174,628 | 165,125 | |
Net interest income (expense) | (1,113) | 119 | 1,756 | |
Remeasurements | [1] | (89,751) | (13,492) | 48,641 |
Cost recognized in total comprehensive income | 87,552 | 161,136 | 213,766 | |
Retirement benefit service costs defined contribution plans | ₩ 4,494 | ₩ 3,827 | ₩ 3,297 | |
[1] | Amount before tax |
Net Defined Benefit Liability_7
Net Defined Benefit Liability (Asset) - Summary Of Key Actuarial Assumptions Used In Net Defined Benefit Liability Measurement (Details) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of actuarial assumptions [Line Items] | |||
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 | The weighted average maturity of defined benefit liability is a minimum of 5.49 to a maximum 11.4 years. | The weighted average maturity of defined benefit liability is a minimum of 5.49 to a maximum 11.4 years. | The weighted average maturity of defined benefit liability is a minimum of 5.49 to a maximum 11.4 years. |
Bottom of range [Member] | |||
Disclosure of actuarial assumptions [Line Items] | |||
Discount rate | 2.40% | 2.13% | 2.18% |
Future wage growth rate | 2.03% | 2.05% | 1.89% |
Top of range [Member] | |||
Disclosure of actuarial assumptions [Line Items] | |||
Discount rate | 3.49% | 2.97% | 2.50% |
Future wage growth rate | 5.56% | 7.00% | 6.00% |
Net Defined Benefit Liability_8
Net Defined Benefit Liability (Asset) - Summary Of Sensitivity To Actuarial Assumptions Used In The Assessment Of Defined Benefit Obligation (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Discount rate | Increase 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 | ₩ (161,428) | ₩ (165,754) |
Discount rate | Decrease 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 | 189,630 | 195,475 |
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 | 188,392 | 193,149 |
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 | ₩ (163,431) | ₩ (167,037) |
Other Financial Liabilities a_3
Other Financial Liabilities and Other Liabilities - Schedule of Miscellaneous Other Liabilities (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021KRW (₩) | Dec. 31, 2020KRW (₩) | Dec. 31, 2021USD ($) | |
Other financial liabilities and other liabilities [Line Items] | |||
Present value discount | ₩ (15,322) | ₩ (6,968) | |
Total of other financial liabilities | 24,233,226 | 14,215,817 | $ 20,388,041 |
Other liabilities | 556,853 | 473,813 | $ 468,495 |
Total of other financial liabilities and other liabilities | 24,790,079 | 14,689,630 | |
Accounts payable | Gross carrying amount [member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Gross carrying amount | 7,031,366 | 4,028,639 | |
Accrued expenses | Gross carrying amount [member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Gross carrying amount | 2,070,639 | 2,049,401 | |
Borrowings from trust accounts | Gross carrying amount [member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Gross carrying amount | 3,107,456 | 2,984,031 | |
Agency business revenue | Gross carrying amount [member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Gross carrying amount | 433,041 | 466,485 | |
Foreign exchange payables | Gross carrying amount [member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Gross carrying amount | 782,176 | 789,189 | |
Domestic exchange settlement credits | Gross carrying amount [member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Gross carrying amount | 6,708,220 | 180,251 | |
Lease liabilities | Gross carrying amount [member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Gross carrying amount | 343,213 | 407,431 | |
Other miscellaneous financial liabilities | Gross carrying amount [member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Gross carrying amount | 3,772,437 | 3,317,358 | |
Unearned Income | Gross carrying amount [member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Other liabilities | 291,147 | 254,702 | |
Other miscellaneous liabilities | Gross carrying amount [member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Other liabilities | ₩ 265,706 | ₩ 219,111 |
Derivatives - Summary Of Deriva
Derivatives - Summary Of Derivative Assets And Derivative Liabilities (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021KRW (₩) | Dec. 31, 2020KRW (₩) | Dec. 31, 2021USD ($) | |
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | ₩ 390,720,160 | ₩ 353,660,429 | |
Derivative assets (Designated for hedging) | 106,764 | 174,820 | $ 89,823 |
Derivative liabilities for hedging | ₩ 27,584 | ₩ 64,769 | $ 23,207 |
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. | 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) | ₩ 95,103 | ₩ 174,820 | |
Derivative liabilities for hedging | 20,287 | 28 | |
For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets (Designated for hedging) | 11,661 | 0 | |
Derivative liabilities for hedging | 7,297 | 64,741 | |
For trading | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets for trading | 4,803,131 | 6,901,742 | |
Derivative liabilities for trading | 4,567,268 | 6,459,887 | |
Interest rate futures | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 118,423 | 184,413 | |
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 assets (Designated for hedging) | 0 | 0 | |
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 forwards | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 340,000 | ||
Interest rate forwards | 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 forwards | For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets (Designated for hedging) | 0 | ||
Derivative liabilities for hedging | 0 | ||
Interest rate forwards | For trading | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets for trading | 16,434 | ||
Derivative liabilities for trading | 0 | ||
Interest rate swap | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 134,196,188 | 137,057,240 | |
Interest rate swap | For fair value hedging | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets (Designated for hedging) | 95,103 | 174,820 | |
Derivative liabilities for hedging | 20,287 | 28 | |
Interest rate swap | For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets (Designated for hedging) | 351 | 0 | |
Derivative liabilities for hedging | 0 | 1,476 | |
Interest rate swap | For trading | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets for trading | 136,185 | 318,545 | |
Derivative liabilities for trading | 305,443 | 524,190 | |
Interest rate options | Long [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 170,000 | 330,000 | |
Interest rate options | Short [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 340,000 | 285,440 | |
Interest rate options | For fair value hedging | Long [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets (Designated for hedging) | 0 | 0 | |
Derivative liabilities for hedging | 0 | 0 | |
Interest rate options | For fair value hedging | Short [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets (Designated for hedging) | 0 | 0 | |
Derivative liabilities for hedging | 0 | 0 | |
Interest rate options | For cash flow hedging | Long [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets (Designated for hedging) | 0 | 0 | |
Derivative liabilities for hedging | 0 | 0 | |
Interest rate options | For cash flow hedging | Short [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets (Designated for hedging) | 0 | 0 | |
Derivative liabilities for hedging | 0 | 0 | |
Interest rate options | For trading | Long [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets for trading | 3,959 | 6,271 | |
Derivative liabilities for trading | 0 | 0 | |
Interest rate options | For trading | Short [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets for trading | 0 | 0 | |
Derivative liabilities for trading | 8,552 | 5,419 | |
Currency futures | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 7,445 | 2,546 | |
Currency 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 | |
Currency futures | For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets (Designated for hedging) | 0 | 0 | |
Derivative liabilities for hedging | 0 | 0 | |
Currency futures | For trading | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets for trading | 0 | 0 | |
Derivative liabilities for trading | 0 | 0 | |
Currency forward | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 114,072,910 | 105,146,634 | |
Currency forward | 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 | |
Currency forward | For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets (Designated for hedging) | 0 | 0 | |
Derivative liabilities for hedging | 0 | 0 | |
Currency forward | For trading | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets for trading | 2,466,893 | 2,541,957 | |
Derivative liabilities for trading | 993,823 | 2,848,980 | |
Currency swap | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 101,117,559 | 87,249,320 | |
Currency swap | 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 | |
Currency swap | For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets (Designated for hedging) | 11,310 | 0 | |
Derivative liabilities for hedging | 7,297 | 63,265 | |
Currency swap | For trading | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets for trading | 1,444,634 | 3,325,135 | |
Derivative liabilities for trading | 2,345,735 | 2,415,610 | |
Foreign Exchange Option | Long [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 1,079,610 | 1,147,877 | |
Foreign Exchange Option | Short [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 1,686,787 | 1,632,048 | |
Foreign Exchange Option | For fair value hedging | Long [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets (Designated for hedging) | 0 | 0 | |
Derivative liabilities for hedging | 0 | 0 | |
Foreign Exchange Option | For fair value hedging | Short [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets (Designated for hedging) | 0 | 0 | |
Derivative liabilities for hedging | 0 | 0 | |
Foreign Exchange Option | For cash flow hedging | Long [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets (Designated for hedging) | 0 | 0 | |
Derivative liabilities for hedging | 0 | 0 | |
Foreign Exchange Option | For cash flow hedging | Short [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets (Designated for hedging) | 0 | 0 | |
Derivative liabilities for hedging | 0 | 0 | |
Foreign Exchange Option | For trading | Long [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets for trading | 10,968 | 59,329 | |
Derivative liabilities for trading | 0 | 0 | |
Foreign Exchange Option | For trading | Short [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets for trading | 0 | 0 | |
Derivative liabilities for trading | 8,952 | 23,271 | |
Equity futures | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 337,916 | 123,742 | |
Equity 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 | |
Equity futures | For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets (Designated for hedging) | 0 | 0 | |
Derivative liabilities for hedging | 0 | 0 | |
Equity futures | For trading | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets for trading | 0 | 0 | |
Derivative liabilities for trading | 0 | 0 | |
Equity Forwards | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 233 | 11 | |
Equity Forwards | 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 | |
Equity Forwards | For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets (Designated for hedging) | 0 | 0 | |
Derivative liabilities for hedging | 0 | 0 | |
Equity Forwards | For trading | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets for trading | 64 | 0 | |
Derivative liabilities for trading | 0 | 0 | |
Equity swap | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 642,963 | 269,039 | |
Equity swap | 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 | |
Equity swap | For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets (Designated for hedging) | 0 | 0 | |
Derivative liabilities for hedging | 0 | 0 | |
Equity swap | For trading | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets for trading | 27,031 | 0 | |
Derivative liabilities for trading | 3,784 | 12,533 | |
Equity options | Long [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 17,503,553 | 9,863,110 | |
Equity options | Short [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 19,106,573 | 10,369,009 | |
Equity options | For fair value hedging | Long [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets (Designated for hedging) | 0 | 0 | |
Derivative liabilities for hedging | 0 | 0 | |
Equity options | For fair value hedging | Short [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets (Designated for hedging) | 0 | 0 | |
Derivative liabilities for hedging | 0 | 0 | |
Equity options | For cash flow hedging | Long [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets (Designated for hedging) | 0 | 0 | |
Derivative liabilities for hedging | 0 | 0 | |
Equity options | For cash flow hedging | Short [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets (Designated for hedging) | 0 | 0 | |
Derivative liabilities for hedging | 0 | 0 | |
Equity options | For trading | Long [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets for trading | 696,963 | 650,505 | |
Derivative liabilities for trading | 0 | 0 | |
Equity options | For trading | Short [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets for trading | 0 | 0 | |
Derivative liabilities for trading | ₩ 900,979 | ₩ 629,884 |
Derivatives - Summary Of Overvi
Derivatives - Summary Of Overview Of The Group's Hedge Accounting (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of detailed information about hedges [line items] | |
Description of significant interest benchmark to which the hedging relationships are exposed | The hedging relationships the entity applies fair value hedge accounting and cash flow hedge accounting to are affected by interest rate which is related with Interest Rate Benchmark Reform. The interest rates to which the hedging relationships are exposed are USD 1M LIBOR, USD 3M LIBOR, AUD 3M BBSW and 3M EURIBOR. |
Description of the nominal amounts of hedging instruments related to the hedging relationships | The nominal amounts of hedging instruments related to 1M LIBOR, 3M LIBOR, 3M BBSW and 3M EURIBOR in the hedging relationships of the Group are USD 470,000,000, USD 1,850,000,000, AUD 150,000,000 and EUR 26,591,163 respectively. |
Description of significant assumptions and judgment applying interest benchmark reform | The entity pays close attention to discussions in the market and industry regarding the applicable alternative benchmark interest rates for the exposed interest rate. The entity judges related uncertainty is expected to be no longer present when the exposed interest rates are replaced by the applicable benchmark interest rates. |
Fair value hedges [member] | |
Disclosure of detailed information about hedges [line items] | |
Description of type of hedge | As of the December 31, 2021, the Group has applied fair value hedge on fixed interest rate foreign currency denominated debentures amounting to 2,366,724 million Won and foreign currency borrowings amounting to 35,694 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 | 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. Pursuantto the interest rate swap agreement, hedge ratio is determined by matching the nominal value of hedging instrument to the face value of the hedged item. |
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 fluctuations in the timing of the cash flow of the hedged item, price margin set by counterparty of hedging instrument, and unilateral change in credit risk of any party of 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 by 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 plus spread, AUD BBSW 3M plus spread and EURIBOR 3M 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. |
Cash flow hedges [member] | |
Disclosure of detailed information about hedges [line items] | |
Description of type of hedge | As of the December 31, 2021, the Group has applied cash flow hedge on local currency denominated debentures amounting to 49,977 million Won, debentures on foreign currency amounting to 769,322 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 in local currency 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 in 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 interest rate swap contract, currency swap contract and value of the hedged item will generally fluctuate in opposite direction. |
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 on local currency 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; 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 and ④ Mitigate the risks of cash flow fluctuation in variable interest rate foreign currency borrowings resulting from changes in market interest rates and designate it as a hedging instrument through entering into currency swap contracts and interest rate swap contracts. |
Derivatives - Summary Of The No
Derivatives - Summary Of The Nominal Amounts And The Average Interest And Currency Rate Of Hedging Instrument (Details) € in Millions, ₩ in Millions, $ in Millions, $ in Millions, $ in Millions | 12 Months Ended | |
Dec. 31, 2021USD ($)KRW (₩)AUD ($)EUR (€) | Dec. 31, 2020SGD ($)USD ($)AUD ($)KRW (₩) | |
Foreign currencies translation risk and interest rate risk | Currency swap | USD | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Nominal amount of hedging instrument | 470,000,000 | 600,000,000 |
Foreign currencies translation risk and interest rate risk | Currency swap | USD | 1 year or less | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Nominal amount of hedging instrument | 200,000,000 | 130,000,000 |
Foreign currencies translation risk and interest rate risk | Currency swap | USD | 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 | 270,000,000 | 470,000,000 |
Foreign currencies translation risk and interest rate risk | Currency swap | USD | More than 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 | 0 |
Foreign currencies translation risk | Currency swap | USD | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Nominal amount of hedging instrument | 180,000,000 | |
Foreign currencies translation risk | Currency swap | USD | 1 year or less | ||
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 | |
Foreign currencies translation risk | Currency swap | USD | 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 | 180,000,000 | |
Foreign currencies translation risk | Currency swap | USD | More than 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 | |
Foreign currencies translation risk | Currency swap | SGD | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Nominal amount of hedging instrument | 68,000,000 | |
Foreign currencies translation risk | Currency swap | SGD | 1 year or less | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Nominal amount of hedging instrument | 68,000,000 | |
Foreign currencies translation risk | Currency swap | SGD | 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 | 0 | |
Foreign currencies translation risk | Currency swap | SGD | More than 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 fair value hedging | Interest rate risk | Interest rate swap | USD | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Nominal amount of hedging instrument | 1,850,000,000 | 2,300,000,000 |
Description of average rate of interest rate risk hedging instrument | Fixed 3.62% receipt and Libor 3M + 1.45% floating paid | Fixed 4.22% receipt and Libor 3M+1.71% floating paid Fixed 5.88% receipt and Libor 6M+2.15% floating paid |
For fair value hedging | Interest rate risk | Interest rate swap | USD | 1 year or less | ||
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 | 1,000,000,000 |
For fair value hedging | Interest rate risk | Interest rate swap | USD | 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 | 1,550,000,000 | 1,000,000,000 |
For fair value hedging | Interest rate risk | Interest rate swap | USD | More than 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 | 300,000,000 | 300,000,000 |
For fair value hedging | Interest rate risk | Interest rate swap | AUD | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Nominal amount of hedging instrument | 150,000,000 | 150,000,000 |
Description of average rate of interest rate risk hedging instrument | Fixed 0.84% receipt and BBSW 3M+0.72% paid | Fixed 0.84% receipt and BBSW 3M+0.72% paid |
For fair value hedging | Interest rate risk | Interest rate swap | AUD | 1 year or less | ||
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 | 0 |
For fair value hedging | Interest rate risk | Interest rate swap | AUD | 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 | 150,000,000 | 150,000,000 |
For fair value hedging | Interest rate risk | Interest rate swap | AUD | More than 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 | 0 |
For fair value hedging | Interest rate risk | Interest rate swap | EUR | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Nominal amount of hedging instrument | € | 26,591,163 | |
Description of average rate of interest rate risk hedging instrument | EURIBOR 3M + 0.09% receipt and 1.5% fixed paid | |
For fair value hedging | Interest rate risk | Interest rate swap | EUR | 1 year or less | ||
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 swap | EUR | 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 | € | 26,591,163 | |
For fair value hedging | Interest rate risk | Interest rate swap | EUR | More than 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 | Interest rate swap | KRW | ||
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 | |
For cash flow hedging | Interest rate swap | KRW | 1 year or less | ||
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 swap | KRW | 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 | ₩ | 50,000 | |
For cash flow hedging | Interest rate swap | KRW | More than 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 | Interest rate risk | Interest rate swap | KRW | ||
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 | 150,000 |
Description of average rate of interest rate risk hedging instrument | KRW CD+0.33% receipt, 1.68% paid | KRW 3Y CMS+0.40% receipt, 2.38% paid KRW CD+0.69% receipt, 2.06% paid KRW CD+0.33% receipt, 1.68% paid |
For cash flow hedging | Interest rate risk | Interest rate swap | KRW | 1 year or less | ||
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 | |
For cash flow hedging | Interest rate risk | Interest rate swap | KRW | 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 | ₩ | 50,000 | |
For cash flow hedging | Interest rate risk | Interest rate swap | KRW | More than 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 | USD | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Nominal amount of hedging instrument | 470,000,000 | 600,000,000 |
Description of average rate of currency risk hedging instrument | USD 1M Libor+0.70% receipt, KRW 0.93% paid, USD/KRW = 1,206.60 | USD 3M Libor+0.80% receipt, KRW 1.45% paid, USD/KRW = 1,155 USD 1M Libor+0.67% receipt, KRW 1.14% paid, USD/KRW = 1,190 USD 1M Libor+0.69% receipt, KRW 1.02% paid, USD/KRW = 1,199 |
For cash flow hedging | Foreign currencies translation risk | Currency swap | USD | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Nominal amount of hedging instrument | 180,000,000 | |
For cash flow hedging | Foreign currencies translation risk | Currency swap | SGD | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Nominal amount of hedging instrument | 68,000,000 | |
Description of average rate of currency risk hedging instrument | USD 1.50% receipt, KRW 1.57% paid, USD/KRW = 1,140.50 | SGD 1.91% receipt, KRW 1.98% paid, SGD/KRW = 827 |
Derivatives - Summary Of Amount
Derivatives - Summary Of Amounts Related To Items Designated As Hedging Instruments (Details) € in Millions, ₩ in Millions, $ in Millions, $ in Millions, $ in Millions | 12 Months Ended | |
Dec. 31, 2021KRW (₩)USD ($)EUR (€)AUD ($) | Dec. 31, 2020KRW (₩)USD ($)SGD ($)AUD ($) | |
Disclosure of detailed information about hedging instruments [line items] | ||
Description of line item in statement of financial position where the hedging instrument is located | 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. | 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. |
Foreign currencies translation risk and interest rate risk | Currency swap | USD | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Nominal amounts of the hedging instrument | $ | 470,000,000 | 600,000,000 |
Foreign currencies translation risk | Currency swap | USD | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Nominal amounts of the hedging instrument | $ | 180,000,000 | |
Foreign currencies translation risk | Currency swap | SGD | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Nominal amounts of the hedging instrument | $ | 68,000,000 | |
For fair value hedging | Interest rate risk | Interest rate swap | USD | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Nominal amounts of the hedging instrument | $ | 1,850,000,000 | 2,300,000,000 |
Description of line item in statement of financial position where the hedging instrument is located | Derivative assets (designated for hedging) Derivative liabilities (designated for hedging) | Derivative assets (designated for hedging) |
For fair value hedging | Interest rate risk | Interest rate swap | AUD | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Nominal amounts of the hedging instrument | $ | 150,000,000 | 150,000,000 |
Description of line item in statement of financial position where the hedging instrument is located | Derivative liabilities (designated for hedging) | |
For fair value hedging | Interest rate risk | Interest rate swap | USD and AUD | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Carrying amounts of the hedging instrument, assets | ₩ 95,086 | ₩ 174,820 |
Carrying amounts of the hedging instrument, liabilities | 20,287 | 28 |
Changing in fair value used for calculating hedge ineffectiveness | ₩ (83,821) | ₩ 57,221 |
For fair value hedging | Interest rate risk | Interest rate swap | EUR | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Nominal amounts of the hedging instrument | € | 26,591,163 | |
Carrying amounts of the hedging instrument, assets | ₩ 17 | |
Carrying amounts of the hedging instrument, liabilities | 0 | |
Changing in fair value used for calculating hedge ineffectiveness | ₩ 17 | |
For cash flow hedging | Interest rate swap | Korea (South), Won | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Nominal amounts of the hedging instrument | 50,000 | |
For cash flow hedging | Interest rate risk | Interest rate swap | Korea (South), Won | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Nominal amounts of the hedging instrument | 50,000 | 150,000 |
Carrying amounts of the hedging instrument, assets | ₩ 351 | ₩ 0 |
Carrying amounts of the hedging instrument, liabilities | ₩ 0 | ₩ 1,476 |
Description of line item in statement of financial position where the hedging instrument is located | Derivative liabilities (designated for hedging) | Derivative liabilities (designated for hedging) |
Changing in fair value used for calculating hedge ineffectiveness | ₩ 1,896 | ₩ (196) |
For cash flow hedging | Foreign currencies translation risk and interest rate risk | Currency swap | USD | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Nominal amounts of the hedging instrument | $ | 470,000,000 | 600,000,000 |
Carrying amounts of the hedging instrument, assets | ₩ 3,631 | ₩ 0 |
Carrying amounts of the hedging instrument, liabilities | ₩ 7,297 | ₩ 62,893 |
Description of line item in statement of financial position where the hedging instrument is located | Derivative liabilities (designated for hedging) | Derivative liabilities (designated for hedging) |
Changing in fair value used for calculating hedge ineffectiveness | ₩ 60,564 | ₩ (69,319) |
For cash flow hedging | Foreign currencies translation risk | Currency swap | USD | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Nominal amounts of the hedging instrument | $ | 180,000,000 | |
Carrying amounts of the hedging instrument, assets | ₩ 7,679 | |
Carrying amounts of the hedging instrument, liabilities | ₩ 0 | |
Description of line item in statement of financial position where the hedging instrument is located | Derivative liabilities (designated for hedging) | |
Changing in fair value used for calculating hedge ineffectiveness | ₩ 8,218 | |
For cash flow hedging | Foreign currencies translation risk | Currency swap | SGD | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Nominal amounts of the hedging instrument | $ | 68,000,000 | |
Carrying amounts of the hedging instrument, assets | ₩ 0 | |
Carrying amounts of the hedging instrument, liabilities | ₩ 373 | |
Description of line item in statement of financial position where the hedging instrument is located | Derivative liabilities (designated for hedging) | |
Changing in fair value used for calculating hedge ineffectiveness | ₩ (4,699) |
Derivatives -Summary Of Carryin
Derivatives -Summary Of Carrying Amounts Of Hedged Item And Amount Of Hedge Adjustments Due To Hedge Accounting (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
For fair value hedging | Foreign currency borrowing | ||
Disclosure of detailed information about hedged items [line items] | ||
Carrying amounts of the hedging item, assets | ₩ 0 | |
Carrying amounts of the hedging item, liabilities | 35,694 | |
Accumulated amount of fair value hedge adjustments on the hedged item included in the carrying amount of the hedged item, assets | 0 | |
Accumulated amount of fair value hedge adjustments on the hedged item included in the carrying amount of the hedged item, liabilities | ₩ 0 | |
Line item in the statement of financial position in which the hedged item is included | Foreign currency borrowings | |
Changing in fair value used for calculating hedge ineffectiveness | ₩ (17) | |
Reserve of cash flow hedges, hedging relationships for which hedge accounting is no longer applied | (17) | |
For fair value hedging | Interest rate risk | Debentures | ||
Disclosure of detailed information about hedged items [line items] | ||
Carrying amounts of the hedging item, assets | 0 | ₩ 0 |
Carrying amounts of the hedging item, liabilities | 2,366,724 | 2,767,208 |
Accumulated amount of fair value hedge adjustments on the hedged item included in the carrying amount of the hedged item, assets | 0 | 0 |
Accumulated amount of fair value hedge adjustments on the hedged item included in the carrying amount of the hedged item, liabilities | ₩ 53,160 | ₩ 144,741 |
Line item in the statement of financial position in which the hedged item is included | Debentures | Debentures |
Changing in fair value used for calculating hedge ineffectiveness | ₩ 100,343 | ₩ (59,073) |
Reserve of cash flow hedges, hedging relationships for which hedge accounting is no longer applied | 0 | 0 |
For cash flow hedging | Interest rate risk | Debentures | ||
Disclosure of detailed information about hedged items [line items] | ||
Carrying amounts of the hedging item, assets | 0 | 0 |
Carrying amounts of the hedging item, liabilities | 49,977 | 149,936 |
Accumulated amount of fair value hedge adjustments on the hedged item included in the carrying amount of the hedged item, assets | 0 | 0 |
Accumulated amount of fair value hedge adjustments on the hedged item included in the carrying amount of the hedged item, liabilities | ₩ 0 | ₩ 0 |
Line item in the statement of financial position in which the hedged item is included | Debentures | Debentures |
Changing in fair value used for calculating hedge ineffectiveness | ₩ (1,760) | ₩ 188 |
Reserve of cash flow hedges, hedging relationships for which hedge accounting is no longer applied | 281 | (909) |
For cash flow hedging | Foreign currencies translation risk and interest rate risk | Debentures | ||
Disclosure of detailed information about hedged items [line items] | ||
Carrying amounts of the hedging item, assets | 0 | 0 |
Carrying amounts of the hedging item, liabilities | 556,607 | 651,704 |
Accumulated amount of fair value hedge adjustments on the hedged item included in the carrying amount of the hedged item, assets | 0 | 0 |
Accumulated amount of fair value hedge adjustments on the hedged item included in the carrying amount of the hedged item, liabilities | ₩ 0 | ₩ 0 |
Line item in the statement of financial position in which the hedged item is included | Debentures | Debentures |
Changing in fair value used for calculating hedge ineffectiveness | ₩ (53,832) | ₩ 61,823 |
Reserve of cash flow hedges, hedging relationships for which hedge accounting is no longer applied | 5,859 | (95) |
For cash flow hedging | Foreign currencies translation risk | Debentures | ||
Disclosure of detailed information about hedged items [line items] | ||
Carrying amounts of the hedging item, assets | 0 | 0 |
Carrying amounts of the hedging item, liabilities | 212,715 | 55,891 |
Accumulated amount of fair value hedge adjustments on the hedged item included in the carrying amount of the hedged item, assets | 0 | 0 |
Accumulated amount of fair value hedge adjustments on the hedged item included in the carrying amount of the hedged item, liabilities | ₩ 0 | ₩ 0 |
Line item in the statement of financial position in which the hedged item is included | Debentures | Debentures |
Changing in fair value used for calculating hedge ineffectiveness | ₩ (7,609) | ₩ 6,564 |
Reserve of cash flow hedges, hedging relationships for which hedge accounting is no longer applied | ₩ (305) | ₩ (268) |
Derivatives -Summary of Amounts
Derivatives -Summary of Amounts Recognized In Profit Or Loss Due To The Ineffective Portion Of Fair Value Hedges And Reclassification Of Profit Or Loss From Other Comprehensive income And Equity Related To Cash Flow Hedges (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
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] | |||
Hedge ineffectiveness recognized in profit or loss | ₩ 16,522 | ₩ (1,852) | ₩ 4,260 |
Line item in the profit or loss that includes hedge ineffectiveness | Other net operating income (expense) | Other net operating income (expense) | Other net operating income (expense) |
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 OCI | ₩ 1,641 | ₩ (122) | ₩ (658) |
Hedge ineffectiveness recognized in profit or loss | 256 | (74) | 0 |
Changes in the value of foreign basis spread recognized in OCI | ₩ 0 | ₩ 0 | ₩ 0 |
Line item in the profit or loss that includes hedge ineffectiveness | Other net operating income (expense) | Other net operating income (expense) | Other net operating income (expense) |
Amounts reclassified from cash flow hedge reserve to profit or loss | ₩ 0 | ₩ 0 | ₩ 0 |
Line item affected in profit or loss due to reclassification | Other net operating income (expense) | Other net operating income (expense) | Other net operating income (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 OCI | ₩ 60,394 | ₩ (68,270) | ₩ 21,420 |
Hedge ineffectiveness recognized in profit or loss | 169 | (1,049) | 944 |
Changes in the value of foreign basis spread recognized in OCI | ₩ (2,300) | ₩ 5,893 | ₩ 838 |
Line item in the profit or loss that includes hedge ineffectiveness | Other net operating income (expense) | Other net operating income (expense) | Other net operating income (expense) |
Amounts reclassified from cash flow hedge reserve to profit or loss | ₩ (52,126) | ₩ 64,762 | ₩ (23,541) |
Line item affected in profit or loss due to reclassification | Other net operating income (expense) | Other net operating income (expense) | Other net operating income (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 OCI | ₩ 8,476 | ₩ (3,677) | ₩ 7,638 |
Hedge ineffectiveness recognized in profit or loss | (258) | (1,022) | 1,601 |
Changes in the value of foreign basis spread recognized in OCI | ₩ 416 | ₩ 320 | ₩ 560 |
Line item in the profit or loss that includes hedge ineffectiveness | Other net operating income (expense) | Other net operating income (expense) | Other net operating income (expense) |
Amounts reclassified from cash flow hedge reserve to profit or loss | ₩ (9,045) | ₩ 5,393 | ₩ (8,215) |
Line item affected in profit or loss due to reclassification | Other net operating income (expense) | Other net operating income (expense) | Other net operating income (expense) |
Deferred day 1 profits or los_3
Deferred day 1 profits or losses - Changes of deferred day 1 profits or losses (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Reconciliation of aggregate difference between fair value at initial recognition and transaction price yet to be recognised in profit or loss [abstract] | |||
Beginning balance | ₩ 6,939 | ₩ 52,259 | ₩ 25,463 |
Changes in aggregate difference between fair value at initial recognition and transaction price yet to be recognised in profit or loss [abstract] | |||
New transactions | 49,523 | 22,901 | 53,289 |
Amounts recognized in losses | (27,351) | (68,221) | (26,493) |
Ending balance | ₩ 29,111 | ₩ 6,939 | ₩ 52,259 |
Description of accounting policy for recognising difference between fair value at initial recognition and amount determined using valuation technique | 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, which is deferred and amortized to maturity using the effective interest method and reflected in profit or loss. The table above presents the difference yet to be realized as profit or losses. |
Equity - Summary of Equity (Det
Equity - Summary of Equity (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | ||||||||
Dec. 31, 2021KRW (₩) | Dec. 31, 2020KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019KRW (₩) | Dec. 31, 2018KRW (₩) | ||||
Capital | |||||||||
Common stock capital | ₩ 3,640,303 | ₩ 3,611,338 | $ 3,062,681 | ||||||
Hybrid securities | 2,294,381 | 1,895,366 | 1,930,322 | ||||||
Capital surplus | |||||||||
Paid in capital in excess of par | 643,544 | 608,348 | |||||||
Others | 38,841 | 17,763 | |||||||
Sub-total | 682,385 | 626,111 | 574,108 | ||||||
Capital adjustments | |||||||||
Treasury stocks | (3,819) | 0 | |||||||
Other adjustments | [1] | (1,747,242) | (1,775,312) | ||||||
Sub-total | (1,751,061) | (1,775,312) | |||||||
Accumulated other comprehensive income [abstract] | |||||||||
Financial assets at FVTOCI | (162,522) | (9,833) | |||||||
Changes in capital due to equity method | (138) | (2,609) | |||||||
Loss from foreign business translation | (63,781) | (298,363) | |||||||
Remeasurements of defined benefit plan | (195,944) | (261,195) | |||||||
Loss on evaluation of cash flow hedge | 5,553 | (1,386) | |||||||
Capital related to noncurrent assets held for sale | 279 | 1,226 | |||||||
Sub-total | (416,553) | (572,160) | ₩ (500,655) | ₩ (572,210) | |||||
Retained earnings | 21,347,472 | [2],[3] | 19,268,265 | [2],[3] | 17,960,182 | ||||
Non-controlling interest | 3,008,176 | [4] | 3,672,237 | [4] | 2,530,856 | ||||
Total | ₩ 28,805,103 | 26,725,845 | $ 24,234,480 | $ 22,485,146 | ₩ 25,492,332 | ₩ 21,953,044 | |||
Additional description for other equity | Included 178,060 million Won in capital transaction gains and losses recognized by Woori Bank and (formerly) Woori Financial Group in 2014 and 2,238,228 million Won due to the spin-off of Gyeongnam Bank and Gwangju Bank. | ||||||||
Additional description for non-controlling interest | The hybrid securities issued by Woori Bank amounting to 3,105,070 million Won and 2,555,166 million Won as of December 31, 2020 and 2021, respectively, are recognized as non-controlling interests. 162,362 million Won and 144,923 million Won of dividends for the hybrid securities issued by Woori Bank are allocated to net profit and loss of the non-controlling interests for the years ended December 31, 2020 and 2021, respectively. | ||||||||
Additional description for retained earnings | The regulatory reserve for credit losses in retained earnings amounted to 2,547,547 million Won and 2,568,367 million Won and as of December 31, 2020 and 2021, respectively in accordance with the relevant article.The earned surplus reserve in retained earnings amounted to 62,830 million Won and 122,370 million Won as of December 31, 2020 and 2021 in accordance with the Article 53 of the Financial Holding Company Act. | ||||||||
Earned surplus reserve | ₩ 122,370 | 62,830 | |||||||
Regulatory reserve for credit loss | ₩ 2,568,367 | ₩ 2,547,547 | |||||||
[1] | Included 178,060 million Won in capital transaction gains and losses recognized by Woori Bank and (formerly) Woori Financial Group in 2014 and 2,238,228 million Won due to the spin-off of Gyeongnam Bank and Gwangju Bank. | ||||||||
[2] | The earned surplus reserve in retained earnings amounted to 62,830 million Won and 122,370 million Won as of December 31, 2020 and 2021 in accordance with the Article 53 of the Financial Holding Company Act. | ||||||||
[3] | The regulatory reserve for credit losses in retained earnings amounted to 2,547,547 million Won and 2,568,367 million Won and as of December 31, 2020 and 2021, respectively in accordance with the relevant article. | ||||||||
[4] | The hybrid securities issued by Woori Bank amounting to 3,105,070 million Won and 2,555,166 million Won as of December 31, 2020 and 2021, respectively, are recognized as non-controlling interests. 162,362 million Won and 144,923 million Won of dividends for the hybrid securities issued by Woori Bank are allocated to net profit and loss of the non-controlling interests for the years ended December 31, 2020 and 2021, respectively. |
Equity - Summary of Authorized
Equity - Summary of Authorized Shares And Others (Details) ₩ / shares in Units, $ in Thousands, ₩ in Millions | Dec. 31, 2021KRW (₩)₩ / sharesshares | Dec. 31, 2021USD ($)shares | Dec. 31, 2020KRW (₩)₩ / sharesshares |
Disclosure of classes of share capital [line items] | |||
Shares of common stock authorized | 4,000,000,000 | 4,000,000,000 | 4,000,000,000 |
Par value | ₩ / shares | ₩ 5,000 | ₩ 5,000 | |
Shares of common stock issued | 728,060,549 | 728,060,549 | 722,267,683 |
Capital stock | ₩ 3,640,303 | $ 3,062,681 | ₩ 3,611,338 |
Equity - Summary of Authorize_2
Equity - Summary of Authorized Shares And Others (Parenthetical) (Details) - shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of classes of share capital [line items] | ||
Description Of changes in numbers of issued shares of common stock | The Parent company issued 5,792,866 new shares in the stock exchange process with the shareholders of Woori Financial Capital Co., Ltd., and the total number of issued shares changed from 722,267,683 shares as of December 31, 2020 to 728,060,549 shares as of December 31, 2021. | The Parent company issued 5,792,866 new shares in the stock exchange process with the shareholders of Woori Financial Capital Co., Ltd., and the total number of issued shares changed from 722,267,683 shares as of December 31, 2020 to 728,060,549 shares as of December 31, 2021. |
Ordinary share | ||
Disclosure of classes of share capital [line items] | ||
Beginning Balance | 722,267,683 | |
Ending Balance | 728,060,549 | 722,267,683 |
Equity - Summary of Hybrid Secu
Equity - Summary of Hybrid Securities Classified as Owners Equity (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021KRW (₩) | Dec. 31, 2020KRW (₩) | Dec. 31, 2021USD ($) | |
Disclosure of bond type hybrid securities of other equity interest classified as owner's equity [Line Items] | |||
Hybrid securities | ₩ 2,294,381 | ₩ 1,895,366 | $ 1,930,322 |
Description of nature of bond type hybrid securities of other equity interest classified as owners equity | The hybrid securities mentioned above do not have maturity date but are redeemable after 5 years from date of issuance. | The hybrid securities mentioned above do not have maturity date but are redeemable after 5 years from date of issuance. | |
Hybrid securities of other equity interest in local currency issued in 201901 | |||
Disclosure of bond type hybrid securities of other equity interest classified as owner's equity [Line Items] | |||
Issue date | Jul. 18, 2019 | Jul. 18, 2019 | |
Maturity | 0 | 0 | |
Interest rate (%) | 3.49% | 3.49% | |
Hybrid securities | ₩ 500,000 | ₩ 500,000 | |
Hybrid securities of other equity interest in local currency issued in 201902 | |||
Disclosure of bond type hybrid securities of other equity interest classified as owner's equity [Line Items] | |||
Issue date | Oct. 11, 2019 | Oct. 11, 2019 | |
Maturity | 0 | 0 | |
Interest rate (%) | 3.32% | 3.32% | |
Hybrid securities | ₩ 500,000 | ₩ 500,000 | |
Hybrid securities of other equity interest in local currency issued in 202001 | |||
Disclosure of bond type hybrid securities of other equity interest classified as owner's equity [Line Items] | |||
Issue date | Feb. 6, 2020 | Feb. 6, 2020 | |
Maturity | 0 | 0 | |
Interest rate (%) | 3.34% | 3.34% | |
Hybrid securities | ₩ 400,000 | ₩ 400,000 | |
Hybrid securities of other equity interest in local currency issued in 202002 | |||
Disclosure of bond type hybrid securities of other equity interest classified as owner's equity [Line Items] | |||
Issue date | Jun. 12, 2020 | Jun. 12, 2020 | |
Maturity | 0 | 0 | |
Interest rate (%) | 3.23% | 3.23% | |
Hybrid securities | ₩ 300,000 | ₩ 300,000 | |
Hybrid securities of other equity interest in local currency issued in 202003 | |||
Disclosure of bond type hybrid securities of other equity interest classified as owner's equity [Line Items] | |||
Issue date | Oct. 23, 2020 | Oct. 23, 2020 | |
Maturity | 0 | 0 | |
Interest rate (%) | 3.00% | 3.00% | |
Hybrid securities | ₩ 200,000 | ₩ 200,000 | |
Hybrid securities of other equity interest in local currency issued in 202101 | |||
Disclosure of bond type hybrid securities of other equity interest classified as owner's equity [Line Items] | |||
Issue date | Apr. 8, 2021 | Apr. 8, 2021 | |
Maturity | 0 | 0 | |
Interest rate (%) | 3.15% | 3.15% | |
Hybrid securities | ₩ 200,000 | ||
Hybrid securities of other equity interest in local currency issued in 202102 | |||
Disclosure of bond type hybrid securities of other equity interest classified as owner's equity [Line Items] | |||
Issue date | Oct. 14, 2021 | Oct. 14, 2021 | |
Maturity | 0 | 0 | |
Interest rate (%) | 3.60% | 3.60% | |
Hybrid securities | ₩ 200,000 | ||
Issuance cost | |||
Disclosure of bond type hybrid securities of other equity interest classified as owner's equity [Line Items] | |||
Hybrid securities | ₩ (5,619) | ₩ (4,634) |
Equity - Summary Of Changes In
Equity - Summary Of Changes In The accumulated Other Comprehensive Income (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | ₩ (572,160) | ₩ (500,655) | ₩ (572,210) |
Changes in accumulated other comprehensive income [Abstract] | |||
Increase (decrease) | 164,833 | (22,430) | (10,406) |
Reclassification adjustments | (31,403) | (30,643) | 74,777 |
Classified as held for sale | 0 | ||
Income tax effect | 22,177 | (18,432) | 7,184 |
Ending balance | (416,553) | (572,160) | (500,655) |
Net gain (loss) on valuation of financial assets at FVTOCI | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | (9,833) | (71,914) | (87,182) |
Changes in accumulated other comprehensive income [Abstract] | |||
Increase (decrease) | (174,113) | 115,167 | (24,180) |
Reclassification adjustments | (32,624) | (30,643) | 43,021 |
Classified as held for sale | 0 | ||
Income tax effect | 54,048 | (22,443) | (3,573) |
Ending balance | ₩ (162,522) | ₩ (9,833) | ₩ (71,914) |
Explanation of transfers of cumulative gain or loss within equity of investments in equity instruments designated at fair value through other comprehensive income | The increase(decrease) of financial asset valuation profit or loss at fair value through other comprehensive income and non-current assets held for sale are changes due to the period evaluation, and the reclassification adjustments amounting to (2,220) million Won, 946 million Won and (947) million Won are due to disposal of equity securities, equity method investments and non-current assets held for sale, respectively during the period. | The increase and decrease of financial asset valuation profit or loss at fair value through other comprehensive income is a change due to the period evaluation and the reclassification adjustments amounting to 2,664 million won are due to disposal of equity securities during the period. | The increase and decrease of financial asset valuation profit or loss at fair value through other comprehensive income is a change due to the period evaluation and the reclassification adjustments amounting to 29,368 million Won are due to disposal of equity securities during the period. |
Changes in capital due to equity method | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | ₩ (2,609) | ₩ 915 | ₩ 302 |
Changes in accumulated other comprehensive income [Abstract] | |||
Increase (decrease) | 3,885 | (3,171) | (1,420) |
Reclassification adjustments | 0 | 0 | 0 |
Classified as held for sale | (1,691) | ||
Income tax effect | (1,414) | 1,338 | 2,033 |
Ending balance | (138) | (2,609) | 915 |
Gain (loss) on foreign currency translation of foreign operations | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | (298,363) | (152,987) | (244,735) |
Changes in accumulated other comprehensive income [Abstract] | |||
Increase (decrease) | 239,614 | (152,486) | 96,157 |
Reclassification adjustments | 0 | 0 | 0 |
Classified as held for sale | 0 | ||
Income tax effect | (5,032) | 7,110 | (4,409) |
Ending balance | (63,781) | (298,363) | (152,987) |
Remeasurement gain (loss) related to defined benefit plan | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | (261,195) | (270,977) | (236,726) |
Changes in accumulated other comprehensive income [Abstract] | |||
Increase (decrease) | 90,337 | 13,492 | (48,244) |
Reclassification adjustments | 0 | 0 | 0 |
Classified as held for sale | 0 | ||
Income tax effect | (25,086) | (3,710) | 13,993 |
Ending balance | (195,944) | (261,195) | (270,977) |
Gain (loss) on valuation of derivatives designated as cash flow hedges | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | (1,386) | (5,692) | (3,869) |
Changes in accumulated other comprehensive income [Abstract] | |||
Increase (decrease) | 6,416 | 4,568 | (32,719) |
Reclassification adjustments | 1,221 | 0 | 31,756 |
Classified as held for sale | 0 | ||
Income tax effect | (698) | (262) | (860) |
Ending balance | 5,553 | (1,386) | (5,692) |
Capital related to noncurrent assets held for sale | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | 1,226 | 0 | |
Changes in accumulated other comprehensive income [Abstract] | |||
Increase (decrease) | (1,306) | 0 | |
Reclassification adjustments | 0 | 0 | |
Classified as held for sale | 1,691 | ||
Income tax effect | 359 | (465) | |
Ending balance | ₩ 279 | ₩ 1,226 | ₩ 0 |
Equity - Summary Of Treasury St
Equity - Summary Of Treasury Stock (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021KRW (₩)shares | Dec. 31, 2021USD ($)shares | Dec. 31, 2020KRW (₩)shares | Dec. 31, 2020USD ($)shares | |
Stockholders Equity Number Of Shares Par Value And Other Disclosures [Line Items] | ||||
Beginning balance, Number of shares | 722,267,683 | 722,267,683 | ||
Balance at beginning | ₩ 26,725,845 | $ 22,485,146 | ₩ 25,492,332 | |
Acquisition, Book Value | ₩ 3,819 | $ 3,213 | ||
Ending balance, Number of shares | 728,060,549 | 728,060,549 | 722,267,683 | 722,267,683 |
Balance at end | ₩ 28,805,103 | $ 24,234,480 | ₩ 26,725,845 | $ 22,485,146 |
Treasury shares [member] | ||||
Stockholders Equity Number Of Shares Par Value And Other Disclosures [Line Items] | ||||
Beginning balance, Number of shares | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 |
Balance at beginning | ₩ | ₩ 0 | ₩ 0 | ||
Acquisition, Number of shares | 343,989,000,000 | 343,989,000,000 | 0 | 0 |
Acquisition, Book Value | ₩ | ₩ 3,819 | ₩ 0 | ||
Disposal, Number of shares | 0 | 0 | 0 | 0 |
Disposal, Book value | ₩ | ₩ 0 | ₩ 0 | ||
Ending balance, Number of shares | 343,991,000,000 | 343,991,000,000 | 2,000,000 | 2,000,000 |
Balance at end | ₩ | ₩ 3,819 | ₩ 0 |
Dividends - Additional Informat
Dividends - Additional Information (Details) - KRW (₩) ₩ / shares in Units, ₩ in Millions | Jul. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 |
Dividends [Abstract] | |||
Dividend paid | ₩ 546,044 | ₩ 260,017 | |
Dividend paid per share | ₩ 750 | ₩ 360 | |
Interim dividends paid | ₩ 108,340 | ||
Interim dividend | ₩ 150 |
Net Interest Income - Summary o
Net Interest Income - Summary of Interest Income (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | Dec. 31, 2019KRW (₩) | |
Disclosure of interest income operating [Abstract] | ||||
Financial assets at FVTPL | ₩ 45,803 | ₩ 48,612 | ₩ 50,619 | |
Financial assets at FVTOCI | 381,814 | $ 321,230 | 437,527 | 474,751 |
Financial assets at amortized cost | ||||
Interest on due from banks | 46,600 | 53,586 | 141,330 | |
Interest on loans | 9,065,074 | 8,570,173 | 9,443,740 | |
Interest of other receivables | 30,538 | 30,967 | 29,990 | |
Sub-total (Loans and other financial assets at amortized cost) | 9,142,212 | 8,654,726 | 9,615,060 | |
Securities at amortized cost | 324,920 | 382,988 | 436,340 | |
Sub-total | 9,467,132 | 7,964,944 | 9,037,714 | 10,051,400 |
Interest income | ₩ 9,894,749 | $ 8,324,709 | ₩ 9,523,853 | ₩ 10,576,770 |
Net Interest Income - Summary_2
Net Interest Income - Summary of Interest Expense (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | Dec. 31, 2019KRW (₩) | |
Interest costs [abstract] | ||||
Interest on deposits due to customers | ₩ 1,906,858 | ₩ 2,486,523 | ₩ 3,424,441 | |
Interest on borrowings | 219,994 | 269,985 | 383,213 | |
Interest on debentures | 727,093 | 722,551 | 777,322 | |
Other interest expense | 47,647 | 36,964 | 89,002 | |
Interest on lease liabilities | 7,436 | 9,318 | 9,086 | |
Total | ₩ 2,909,028 | $ 2,447,441 | ₩ 3,525,341 | ₩ 4,683,064 |
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, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | Dec. 31, 2019KRW (₩) | |
Fee and commission income [abstract] | ||||
Fees and commission received for brokerage | ₩ 182,794 | ₩ 162,653 | ₩ 156,578 | |
Credit-related fee and commission income | 197,125 | 195,391 | 189,597 | |
Fees And Commission Received For Electronic Finance | 131,941 | 125,107 | 137,289 | |
Fees And Commission Received On Foreign Exchange Handling | 56,210 | 55,984 | 61,756 | |
Fees And Commission Received On Foreign Exchange | 73,894 | 69,017 | 92,408 | |
Fees and commissions received for guarantee | 76,428 | 74,647 | 71,106 | |
Fees and commissions received on credit card | 573,048 | 507,852 | 548,580 | |
Fees and commissions received on securities business | 100,991 | 79,606 | 113,346 | |
Fees And Commission From Trust Management | 216,203 | 160,564 | 180,290 | |
Fees And Commission Received On Credit Information | 10,220 | 13,254 | 12,626 | |
Fees and commission received related to lease | 374,900 | 84,164 | 4,753 | |
Other fees | 177,951 | 165,777 | 140,997 | |
Total | ₩ 2,171,705 | $ 1,827,112 | ₩ 1,694,016 | ₩ 1,709,326 |
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, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | Dec. 31, 2019KRW (₩) | |
Fee and commission expense [abstract] | ||||
Fees and commissions paid | ₩ 261,734 | ₩ 246,824 | ₩ 189,789 | |
Credit card commission | 425,796 | 424,316 | 407,689 | |
Brokerage commission | 1,605 | 551 | 775 | |
Others | 11,795 | 8,286 | 8,445 | |
Total | ₩ 700,930 | $ 589,711 | ₩ 679,977 | ₩ 606,698 |
Dividend income - Schedule of r
Dividend income - Schedule of revenue from dividends (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | Dec. 31, 2019KRW (₩) | |
Interest And Dividend Income, Securities, by Security Type [Abstract] | ||||
Dividend income related to financial assets at FVTPL | ₩ 284,683 | ₩ 120,158 | ₩ 86,979 | |
Dividend income related to financial assets at FVTOCI | 24,528 | 18,385 | 20,980 | |
Total | ₩ 309,211 | $ 260,147 | ₩ 138,543 | ₩ 107,959 |
Dividend income - Details of di
Dividend income - Details of dividends related to financial assets at FVTOCI (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
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 | ₩ 24,528 | ₩ 18,385 | ₩ 20,980 |
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 - Summary of Gains or losses related to financial instruments at FVTPL (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | Dec. 31, 2019KRW (₩) | |
Income, expense, gains or losses of financial instruments [abstract] | ||||
Gains (losses) on financial assets at fair value through profit or loss, mandatorily measured at fair value | ₩ 325,649 | ₩ 422,374 | ₩ 58,692 | |
Gains (losses) on financial assets at fair value through profit or loss, designated upon initial recognition or subsequently | 102 | (665) | (33,237) | |
Total | ₩ 325,751 | $ 274,063 | ₩ 421,709 | ₩ 25,455 |
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 - Summary Of 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 (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Gains losses on financial instruments held for trading [Line Items] | |||
Total | ₩ 325,649 | ₩ 422,374 | ₩ 58,692 |
Financial assets at FVTPL | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | 75,199 | 27,902 | 108,016 |
Securities | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | 52,631 | 20,045 | 106,088 |
Securities | Gain on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | 249,803 | 142,551 | 186,394 |
Securities | Loss on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | (197,172) | (122,506) | (80,306) |
Loans | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | 17,904 | 7,212 | 1,535 |
Loans | Gain on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | 24,674 | 15,299 | 1,556 |
Loans | Loss on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | (6,770) | (8,087) | (21) |
Other financial assets | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | 4,664 | 645 | 393 |
Other financial assets | Gain on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | 17,034 | 10,902 | 3,963 |
Other financial assets | Loss on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | (12,370) | (10,257) | (3,570) |
Derivatives (Held for trading) | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | 250,450 | 394,472 | (49,324) |
Interest rate derivatives | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | 273,252 | (271,239) | (108,579) |
Interest rate derivatives | Gain on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | 2,020,004 | 1,727,585 | 1,507,254 |
Interest rate derivatives | Loss on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | (1,746,752) | (1,998,824) | (1,615,833) |
Currency derivatives | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | (29,462) | 656,001 | 17,066 |
Currency derivatives | Gain on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | 9,685,798 | 12,562,354 | 6,872,513 |
Currency derivatives | Loss on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | (9,715,260) | (11,906,353) | (6,855,447) |
Equity derivatives | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | 10,377 | 10,125 | 42,860 |
Equity derivatives | Gain on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | 1,754,671 | 1,835,497 | 839,196 |
Equity derivatives | Loss on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | (1,744,294) | (1,825,372) | (796,336) |
Other derivatives | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | (3,717) | (415) | (671) |
Other derivatives | Gain on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | 64 | 0 | 695 |
Other derivatives | Loss on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | (3,781) | (415) | (1,366) |
Derivatives Held For Trading [Member] | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | ₩ 325,649 | ₩ 422,374 | ₩ 58,692 |
Net gain or loss on financial_6
Net gain or loss on financial instruments at fair value through profit or loss mandatorily measured at fair value - Summary of Gains or losses on financial instruments at fair value through profit or loss designated as upon initial recognition (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Gains (losses) on financial instruments at fair value through profit or loss designated upon initial recognition [Abstract] | |||
Gain (loss) on equity-linked securities | ₩ 102 | ₩ (665) | ₩ (33,237) |
Net gain or loss on financial_7
Net gain or loss on financial assets at FVTOCI - Summary Of Gain or Loss On Financial Assets At FVTOCI Recognized Net (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | Dec. 31, 2019KRW (₩) | |
Disclosure of gains losses recognised in profit or loss availableforsale financial assets [Abstract] | ||||
Gains on redemption of securities | ₩ (23) | ₩ (57) | ₩ 15 | |
Gains on transaction of securities | 32,647 | 24,195 | 11,000 | |
Total | ₩ 32,624 | $ 27,447 | ₩ 24,138 | ₩ 11,015 |
Reversal of (provision for) i_3
Reversal of (provision for) impairment losses due to credit loss - Reversal of (provision for) Impairment Losses due to credit loss (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of impairment losses due to credit loss [Abstract] | |||
Impairment loss due to credit losses on financial assets measured at FVTOCI | ₩ (4,909) | ₩ (1,529) | ₩ (3,297) |
Reversal of (provision for) impairment loss due to credit losses on securities at amortized cost | (664) | 934 | 1,415 |
Provision for impairment loss due to credit losses on loan and other financial assets at amortized cost | (551,957) | (792,250) | (385,758) |
Reversal of provision on guarantee | 10,701 | 18,348 | 4,352 |
Reversal of (provision for) unused loan commitment | 9,991 | (9,874) | 9,044 |
Total | ₩ (536,838) | ₩ (784,371) | ₩ (374,244) |
General administrative expens_3
General administrative expenses and other net operating income (expenses) - Details of administrative expenses (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | Dec. 31, 2019KRW (₩) | |
Short-term employee benefits expense [abstract] | ||||
Salaries | ₩ 1,775,018 | ₩ 1,638,341 | ₩ 1,584,791 | |
Employee fringe benefits | 545,534 | 506,048 | 475,238 | |
Share based payments | 17,774 | 7,495 | 6,328 | |
Retirement benefit service costs | 181,797 | 178,455 | 168,423 | |
Termination | 180,872 | 202,259 | 156,441 | |
Sub total | 2,700,995 | 2,532,598 | 2,391,221 | |
Depreciation and amortisation expense [abstract] | ||||
Depreciation and amortization | 524,154 | 520,969 | 481,176 | |
Other general and administrative expense [Abstract] | ||||
Rent | 83,879 | 78,707 | 85,705 | |
Taxes and public dues | 135,015 | 129,904 | 137,137 | |
Service charges | 231,852 | 244,825 | 235,117 | |
Computer and IT related | 117,875 | 108,810 | 93,573 | |
Telephone and communication | 79,145 | 72,711 | 70,220 | |
Operating promotion | 44,248 | 45,891 | 45,594 | |
Advertising | 101,384 | 94,880 | 85,887 | |
Printing | 6,449 | 6,954 | 7,845 | |
Traveling | 7,449 | 7,263 | 13,255 | |
Supplies | 7,642 | 12,127 | 7,736 | |
Insurance premium | 10,692 | 10,805 | 9,668 | |
Reimbursement | 13,483 | 16,500 | 23,577 | |
Maintenance | 20,808 | 18,367 | 18,495 | |
Water, light and heating | 14,520 | 14,993 | 15,272 | |
Vehicle maintenance | 11,590 | 10,225 | 10,564 | |
Others | 36,231 | 29,652 | 34,035 | |
Sub total | 922,262 | 902,614 | 893,680 | |
Total | ₩ 4,147,411 | $ 3,489,324 | ₩ 3,956,181 | ₩ 3,766,077 |
General administrative expens_4
General administrative expenses and other net operating income (expenses) - Details of other operating income (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Other operating income [Abstract] | |||
Gain on transactions of foreign exchange | ₩ 562,935 | ₩ 758,347 | ₩ 602,115 |
Gain related to derivatives (Designated for hedging) | 61,271 | 67,395 | 126,651 |
Gain on fair value hedged items | 106,253 | 9,646 | 231 |
Others | 172,044 | 63,702 | 45,706 |
Total | ₩ 902,503 | ₩ 899,090 | ₩ 774,703 |
General administrative expens_5
General administrative expenses and other net operating income (expenses) - Details of other operating expenses (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Other operating expenses [Abstract] | ||||
Net foreign exchange loss | ₩ 450,698 | ₩ 679,350 | ₩ 192,331 | |
KDIC deposit insurance premium | 406,276 | 371,054 | 333,600 | |
Contribution to miscellaneous funds | 367,961 | 327,911 | 317,667 | |
Losses on change in fair value of derivatives | 93,084 | 82,746 | 3,686 | |
Losses on fair value hedged items | 1,947 | 68,508 | 86,214 | |
Others | [1] | 469,938 | 189,959 | 143,786 |
Total | 1,789,904 | 1,719,528 | 1,077,284 | |
Amortization of other intangible assets included in other operating expenses | 13,963 | 11,890 | ₩ 22,317 | |
Lease depreciation cost | ₩ 250,971 | ₩ 52,504 | ||
[1] | Other expense includes 22,317 million Won, 11,890 million Won and 13,963 million Won for intangible asset amortization cost for the years ended December 31, 2019, 2020 and 2021 respectively. In addition, it includes 52,504 million Won and 250,971 million Won for lease depreciation cost for the years ended December 31, 2020 and 2021, respectively. |
General administrative expens_6
General administrative expenses and other net operating income (expenses) - Details of share based payment (Details) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021KRW (₩)sharesyr | Dec. 31, 2020KRW (₩)shares | ||
Shares granted for the year 2019 | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Subject to | Shares granted for the year 2019 | ||
Type of payment | Cash-settled | ||
Vesting period | January 1, 2019 ~ December 31, 2022 | ||
Date of payment | Jan. 1, 2023 | ||
Fair Value | ₩ | [1] | 12,527 | |
Valuation method | Black-Scholes Model | ||
Expected dividend rate | 4.28% | ||
Expected maturity date | yr | 1 | ||
Number of shares remaining | 602,474 | 602,474 | |
Number of shares granted | [2] | 602,474 | 602,474 |
Information about how fair value was measured, share options granted | As the amount of payment varies according to the base price (the arithmetic average of the weighted average stock price of transactions in the past one week, the past one month, and the past two months) at the date of payment, the fair value is calculated to measure the liability according to the Black Scholes model based on the base price at the time of each settlement. | ||
Description of vesting requirements for share-based payment arrangement | It is a system in which the amount of stock payable is determined at the beginning, and the payment rate is determined in accordance with the degree of achievement of the pre-set performance target. Performance is evaluated by long-term performance indicators such as relative shareholder return, net profit, return on equity (ROE), non-performing loan ratio, and job performance. | ||
Explanation of effect of share-based payments on entity's financial position [text block] | The Group accounts for performance condition share-based payments according to the cash-settled method and the fair value of the liabilities is reflected in the compensation costs by re-measuring | ||
Shares granted for the year 2020 | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Subject to | Shares granted for the year 2020 | ||
Type of payment | Cash-settled | ||
Vesting period | January 1, 2020 ~ December 31, 2023 | ||
Date of payment | Jan. 1, 2024 | ||
Fair Value | ₩ | [1] | 12,003 | |
Valuation method | Black-Scholes Model | ||
Expected dividend rate | 4.28% | ||
Expected maturity date | yr | 2 | ||
Number of shares remaining | 944,343 | 944,343 | |
Number of shares granted | [2] | 944,343 | 944,343 |
Information about how fair value was measured, share options granted | As the amount of payment varies according to the base price (the arithmetic average of the weighted average stock price of transactions in the past one week, the past one month, and the past two months) at the date of payment, the fair value is calculated to measure the liability according to the Black Scholes model based on the base price at the time of each settlement. | ||
Description of vesting requirements for share-based payment arrangement | It is a system in which the amount of stock payable is determined at the beginning, and the payment rate is determined in accordance with the degree of achievement of the pre-set performance target. Performance is evaluated by long-term performance indicators such as relative shareholder return, net profit, return on equity (ROE), non-performing loan ratio, and job performance. | ||
Explanation of effect of share-based payments on entity's financial position [text block] | The Group accounts for performance condition share-based payments according to the cash-settled method and the fair value of the liabilities is reflected in the compensation costs by re-measuring | ||
Shares granted for the year 2021 | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Subject to | Shares granted for the year 2021 | ||
Type of payment | Cash-settled | ||
Vesting period | January 1, 2021 ~ December 31, 2024 | ||
Date of payment | Jan. 1, 2025 | ||
Fair Value | ₩ | [1] | 11,501 | |
Valuation method | Black-Scholes Model | ||
Expected dividend rate | 4.28% | ||
Expected maturity date | yr | 3 | ||
Number of shares remaining | 1,105,515 | 0 | |
Number of shares granted | [2] | 1,105,515 | 0 |
Information about how fair value was measured, share options granted | As the amount of payment varies according to the base price (the arithmetic average of the weighted average stock price of transactions in the past one week, the past one month, and the past two months) at the date of payment, the fair value is calculated to measure the liability according to the Black Scholes model based on the base price at the time of each settlement. | ||
Description of vesting requirements for share-based payment arrangement | It is a system in which the amount of stock payable is determined at the beginning, and the payment rate is determined in accordance with the degree of achievement of the pre-set performance target. Performance is evaluated by long-term performance indicators such as relative shareholder return, net profit, return on equity (ROE), non-performing loan ratio, and job performance. | ||
Explanation of effect of share-based payments on entity's financial position [text block] | The Group accounts for performance condition share-based payments according to the cash-settled method and the fair value of the liabilities is reflected in the compensation costs by re-measuring | ||
Share-based payment arrangements | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Liabilities from share-based payment transactions | ₩ | ₩ 31,597 | ₩ 13,823 | |
[1] | As the amount of payment varies according to the base price (the arithmetic average of the weighted average stock price of transactions in the past one week, the past one month, and the past two months) at the date of payment, the fair value is calculated to measure the liability according to the Black Scholes model based on the base price at the time of each settlement. | ||
[2] | It is a system in which the amount of stock payable is determined at the beginning, and the payment rate is determined in accordance with the degree of achievement of the pre-set performance target. Performance is evaluated by long-term performance indicators such as relative shareholder return, net profit, return on equity (ROE), non-performing loan ratio, and job performance. |
Non-operating income (expense)
Non-operating income (expense) - Details of non operating incomes and expenses (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | ||||
Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | Dec. 31, 2019KRW (₩) | ||
Gain or loss on valuation of investments in associates and joint ventures | |||||
Gains on valuation of investments in joint ventures and associates | ₩ 80,268 | ₩ 125,602 | ₩ 103,775 | ||
Reversal of impairment losses of investments in joint ventures and associates | 1,744 | 0 | 0 | ||
Losses on valuation of investments in joint ventures and associates | (7,405) | (23,283) | (16,144) | ||
Impairment losses of investments in joint ventures and associates | (12,411) | (1,242) | (3,634) | ||
Total | 62,196 | $ 52,327 | 101,077 | 83,997 | |
Other Income Disclosure Non operating [Abstract] | |||||
Rental fee income | 15,056 | 15,190 | 10,106 | ||
Gains on disposal of investment in joint ventures and associates | 70,834 | 3,470 | 0 | ||
Gains on disposal of premises and equipment, intangble assets and other assets | 51,083 | 9,715 | 1,632 | ||
Reversal of impairment loss of premises and equipment, intangible assets and other assets | 166 | 172 | 103 | ||
Others | [1] | 50,990 | 104,648 | 56,618 | |
Total | 188,129 | 133,195 | 68,459 | ||
Other Expense Disclosure Non operating [Abstract] | |||||
Depreciation on investment properties | 2,809 | 2,689 | 2,225 | ||
Operating expenses on investment properties | 1,174 | 762 | 834 | ||
Losses on disposal of investment in joint ventures and associates | 174 | 0 | 0 | ||
Losses on disposal of premises and equipment, intangible assets and other assets | 3,354 | 2,717 | 3,433 | ||
Impairment losses of premises and equipment, intangible assets and other assets | 656 | 8,763 | 28,295 | ||
Donation | 39,335 | 44,504 | 62,545 | ||
Others | [2] | 175,527 | 253,980 | 132,051 | |
Total | (223,029) | (313,415) | (229,383) | ||
Total | (34,900) | (29,362) | (180,220) | (160,924) | |
Profit from bargain purchase | 0 | $ 0 | 67,427 | ₩ 0 | |
Other extraordinary losses related to other provisions | ₩ 138,117 | ₩ 224,427 | |||
[1] | Included 67,427 million Won of profit from bargain purchase for the year ended December 31, 2020. | ||||
[2] | Others include 224,427 million Won and 138,117 million Won of other extraordinary losses related to other provisions or accounts payable for the years ended December 31, 2020 and 2021. |
Income tax expense - Details of
Income tax expense - Details of income tax expenses (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | Dec. 31, 2019KRW (₩) | |
Current tax expense | ||||
Current tax expense with respect to the current period | ₩ 884,843 | ₩ 501,223 | ₩ 612,680 | |
Adjustments recognized in the current period in relation to the tax expense of prior periods | 2,074 | 4,914 | (65,227) | |
Sub-total | 886,917 | 506,137 | 547,453 | |
Deferred tax expense | ||||
Change in deferred tax assets (liabilities) due to the temporary differences | 15,672 | (1,702) | 130,816 | |
Income tax expense (income) directly attributable to equity | 22,177 | (18,433) | 7,184 | |
Sub-total | 37,849 | (20,135) | 138,000 | |
Income tax expense | ₩ 924,766 | $ 778,030 | ₩ 486,002 | ₩ 685,453 |
Income tax expense - Relationsh
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, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | Dec. 31, 2019KRW (₩) | ||
Reconciliation of accounting profit multiplied by applicable tax rates [abstract] | |||||
Profit (loss) before tax | ₩ 3,687,045 | $ 3,102,007 | ₩ 2,001,251 | ₩ 2,723,049 | |
Tax calculated at statutory tax rate | [1] | 942,991 | 514,456 | 738,476 | |
Adjustments to net income | |||||
Effect of income that is exempt from taxation | (41,335) | (42,440) | (61,730) | ||
Effect of expenses that are not deductible in determining taxable income | 18,933 | 19,451 | 31,549 | ||
Adjustments recognized in the current period in relation to the current tax of prior periods | 3,078 | 4,914 | (65,227) | ||
Others | 1,099 | (10,379) | 42,385 | ||
Sub-total | (18,225) | (28,454) | (53,023) | ||
Income tax expense | ₩ 924,766 | $ 778,030 | ₩ 486,002 | ₩ 685,453 | |
Effective tax rate | 25.08% | 25.08% | 24.30% | 25.20% | |
Description of applicable tax rate by taxable income | 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. |
Income tax expense - Details _2
Income tax expense - Details of Temporary differences unused tax losses and credits (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||||||
Beginning balance | ₩ (114,163) | ₩ (94,778) | ₩ 41,485 | |||
Changes in deferred tax liability (asset) [abstract] | ||||||
Business combination | (21,087) | (5,447) | ||||
Recognized as income (expense) | (46,723) | 20,133 | (138,000) | |||
Recognized as other comprehensive income (expense) | 22,177 | (18,431) | 7,184 | |||
Ending balance | (138,709) | (114,163) | (94,778) | |||
Deferred tax liability asset arising from Unused tax losses | ₩ 8,838 | ₩ 24,059 | 21,656 | |||
Deferred tax relating to non-controlling interests | ₩ 2,737 | |||||
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 8,838 million Won. | Among the deferred tax assets and liabilities classified as ‘Others,’ the deferred tax asset arising from unused tax losses amounts to 24,059 million Won. | Among the deferred tax assets and liabilities classified as ‘Others,’ the deferred tax asset arising from unused tax losses amounts to 21,656 million Won. | |||
Description of Recognized as other comprehensive income | Includes 2,737 million Won presented on non-controlling interests. | |||||
Gain (loss) on financial assets | ||||||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||||||
Beginning balance | ₩ 276,495 | ₩ 278,352 | ₩ 372,346 | |||
Changes in deferred tax liability (asset) [abstract] | ||||||
Business combination | 2,243 | 1,360 | ||||
Recognized as income (expense) | (57,187) | 19,121 | (91,781) | |||
Recognized as other comprehensive income (expense) | 54,048 | (23,221) | (3,573) | |||
Ending balance | 273,356 | 276,495 | 278,352 | |||
Gain (loss) on valuation using the equity method of accounting | ||||||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||||||
Beginning balance | 33,597 | 10,713 | 28,354 | |||
Changes in deferred tax liability (asset) [abstract] | ||||||
Business combination | 0 | 90 | ||||
Recognized as income (expense) | (17,282) | 21,499 | (17,648) | |||
Recognized as other comprehensive income (expense) | (1,055) | 1,385 | (83) | |||
Ending balance | 15,260 | 33,597 | 10,713 | |||
Gain (loss) on valuation of derivatives | ||||||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||||||
Beginning balance | (142,352) | (75,412) | (27,507) | |||
Changes in deferred tax liability (asset) [abstract] | ||||||
Business combination | 675 | 6 | ||||
Recognized as income (expense) | (6,755) | (67,423) | (48,217) | |||
Recognized as other comprehensive income (expense) | (698) | (192) | 306 | |||
Ending balance | (149,805) | (142,352) | (75,412) | |||
Accrued income | ||||||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||||||
Beginning balance | (66,228) | (66,384) | (55,846) | |||
Changes in deferred tax liability (asset) [abstract] | ||||||
Business combination | (4,392) | (52) | ||||
Recognized as income (expense) | (16,254) | 4,548 | (10,486) | |||
Recognized as other comprehensive income (expense) | 0 | 0 | 0 | |||
Ending balance | (82,482) | (66,228) | (66,384) | |||
Provision for loan losses | ||||||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||||||
Beginning balance | (46,495) | (52,711) | (52,345) | |||
Changes in deferred tax liability (asset) [abstract] | ||||||
Business combination | 2,201 | 0 | ||||
Recognized as income (expense) | 11,870 | 4,015 | (366) | |||
Recognized as other comprehensive income (expense) | 0 | 0 | 0 | |||
Ending balance | (34,625) | (46,495) | (52,711) | |||
Loan and receivables written off | ||||||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||||||
Beginning balance | 8,221 | 6,893 | 6,672 | |||
Changes in deferred tax liability (asset) [abstract] | ||||||
Business combination | 0 | 0 | ||||
Recognized as income (expense) | 23 | 1,328 | 221 | |||
Recognized as other comprehensive income (expense) | 0 | 0 | 0 | |||
Ending balance | 8,244 | 8,221 | 6,893 | |||
Loan origination costs and fees | ||||||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||||||
Beginning balance | (170,196) | (162,442) | (154,431) | |||
Changes in deferred tax liability (asset) [abstract] | ||||||
Business combination | (14,131) | 0 | ||||
Recognized as income (expense) | (24,267) | 6,377 | (8,011) | |||
Recognized as other comprehensive income (expense) | 0 | 0 | 0 | |||
Ending balance | (194,463) | (170,196) | (162,442) | |||
Defined benefit liability | ||||||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||||||
Beginning balance | 442,007 | 396,302 | 360,087 | |||
Changes in deferred tax liability (asset) [abstract] | ||||||
Business combination | 7,923 | 1,131 | ||||
Recognized as income (expense) | 32,890 | 41,186 | 21,234 | |||
Recognized as other comprehensive income (expense) | (25,282) | (3,404) | 13,850 | |||
Ending balance | 449,615 | 442,007 | 396,302 | |||
Deposits with employee retirement insurance trust | ||||||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||||||
Beginning balance | (424,906) | (381,776) | (318,330) | |||
Changes in deferred tax liability (asset) [abstract] | ||||||
Business combination | (6,369) | (1,131) | ||||
Recognized as income (expense) | (7,291) | (36,858) | (62,458) | |||
Recognized as other comprehensive income (expense) | 196 | 97 | 143 | |||
Ending balance | (432,001) | (424,906) | (381,776) | |||
Provision for guarantee | ||||||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||||||
Beginning balance | 9,485 | 7,915 | 11,374 | |||
Changes in deferred tax liability (asset) [abstract] | ||||||
Business combination | 3,441 | 0 | ||||
Recognized as income (expense) | (2,061) | (1,871) | (3,459) | |||
Recognized as other comprehensive income (expense) | 0 | 0 | 0 | |||
Ending balance | 7,424 | 9,485 | 7,915 | |||
Other provision | ||||||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||||||
Beginning balance | 85,173 | 88,456 | 75,194 | |||
Changes in deferred tax liability (asset) [abstract] | ||||||
Business combination | 0 | 76 | ||||
Recognized as income (expense) | 15,398 | (3,283) | 10,958 | |||
Recognized as other comprehensive income (expense) | 0 | 0 | 2,228 | |||
Ending balance | 100,571 | 85,173 | 88,456 | |||
Others | ||||||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||||||
Beginning balance | (118,964) | [1],[2] | (144,684) | [2],[3] | (204,083) | [3] |
Changes in deferred tax liability (asset) [abstract] | ||||||
Business combination | (12,678) | [2] | (6,927) | [3] | ||
Recognized as income (expense) | 24,193 | [1] | 31,494 | [2] | 72,013 | [3] |
Recognized as other comprehensive income (expense) | (5,032) | [1] | 6,904 | [2] | (5,687) | [3],[4] |
Ending balance | ₩ (99,803) | [1] | ₩ (118,964) | [1],[2] | ₩ (144,684) | [2],[3] |
[1] | Among the deferred tax assets and liabilities classified as ‘Others,’ the deferred tax asset arising from unused tax losses amounts to 8,838 million Won. | |||||
[2] | Among the deferred tax assets and liabilities classified as ‘others,’ the deferred tax asset arising from unused tax losses amounts to 24,059 million Won. | |||||
[3] | Among the deferred tax assets and liabilities classified as ‘Others,’ the deferred tax asset arising from unused tax losses amounts to 21,656 million Won. | |||||
[4] | Includes 2,737 million Won presented on non-controlling interests. |
Income tax expense - Unrealizab
Income tax expense - Unrealizable temporary differences (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Unrecognized Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deductible temporary differences | ₩ 303,067 | ₩ 327,139 |
Tax loss carry forward | 63,908 | 97,898 |
Taxable temporary differences | (8,025,672) | (10,409,344) |
Total | (7,658,697) | ₩ (9,984,307) |
Temporary differences associated with investments in subsidiaries, branches and associates and interests in joint arrangements for which deferred tax liabilities have not been recognised | 264,000 | |
Temporary Differences For Which No Deferred Tax Liability Is Recognised | ₩ 39,067 | |
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 264,000 million Won associated with investments in subsidiaries as of December 31, 2021, because it is not probable that the temporary differences will be reversed in the foreseeable future. 39,067 million Won associated with others, respectively, as of December 31, 2021, 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 8,025,673 million Won associated with investment in subsidiaries as of December 31, 2021, 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. | |
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 | ₩ 8,025,673 | |
Temporary Differences Associated With Others | ||
Disclosure Of Unrecognized Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deductible temporary differences | ₩ 0 |
Income tax expense - Expiry dat
Income tax expense - Expiry date of tax loss carry forward (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure Of Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Tax loss carry forward | ₩ 63,908 | ₩ 97,898 |
1 year or less | ||
Disclosure Of Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Tax loss carry forward | 14,688 | |
1-2 years | ||
Disclosure Of Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Tax loss carry forward | 33,464 | |
2-3 years | ||
Disclosure Of Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Tax loss carry forward | 12,199 | |
More than 3 years | ||
Disclosure Of Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Tax loss carry forward | ₩ 3,557 |
Income tax expense - Deferred t
Income tax expense - Deferred tax charged directly to other equity (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Deferred Tax Relating To Items Charged Or Credited Directly To Equity [Abstract] | ||
Gain on valuation of financial assets at FVTOCI | ₩ 58,677 | ₩ 4,628 |
Gain on valuation of equity method investments | 2,078 | 3,133 |
Gain on foreign currency translation of foreign operations | 5,689 | 10,883 |
Remeasurements of the net defined benefit liability | 74,790 | 101,128 |
Gain on derivatives designated as cash flow hedge | (843) | 556 |
Total | ₩ 140,391 | ₩ 120,328 |
Income tax expense - Current ta
Income tax expense - Current tax assets and liabilities (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) |
Disclosure Of Current Tax Assets Liabilities [Abstract] | |||
Current tax assets | ₩ 22,598 | $ 19,012 | ₩ 75,655 |
Current tax liabilities | ₩ 584,491 | $ 491,747 | ₩ 370,718 |
Earnings per share - Summary Of
Earnings per share - Summary Of Earnings Per Share (Details) ₩ / shares in Units, $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2021KRW (₩)₩ / sharesshares | Dec. 31, 2021USD ($)shares | Dec. 31, 2020KRW (₩)₩ / sharesshares | Dec. 31, 2019KRW (₩)₩ / sharesshares | |
Basic earnings per share [abstract] | ||||
Net income attributable to common shareholders | ₩ 2,542,844 | $ 2,139,361 | ₩ 1,307,266 | ₩ 1,872,207 |
Dividends to hybrid securities | ₩ | (66,250) | (48,915) | (4,362) | |
Net income attributable to common shareholders | ₩ | ₩ 2,476,594 | ₩ 1,258,351 | ₩ 1,867,845 | |
Weighted average number of common shares outstanding | shares | 724,417,375 | 724,417,375 | 722,267,681 | 685,000,000 |
Basic EPS (Unit: Korean Won) | ₩ / shares | ₩ 3,419 | ₩ 1,742 | ₩ 2,727 | |
Diluted EPS (Unit: Korean Won) | ₩ / shares | ₩ 3,419 | ₩ 1,742 | ₩ 2,727 |
Earnings per share - Summary _2
Earnings per share - Summary Of Weighted Average Number Of Common Shares Outstanding (Details) | 12 Months Ended | ||
Dec. 31, 2021Dayshares | Dec. 31, 2020Dayshares | Dec. 31, 2019shares | |
Weighted average common shares outstanding [Line Items] | |||
Accumulated number of shares outstanding during period | 264,412,341,853 | 264,349,971,246 | |
Weighted average number of common shares outstanding | 724,417,375 | 722,267,681 | 685,000,000 |
Issuance of new shares (comprehensive share exchange) | |||
Weighted average common shares outstanding [Line Items] | |||
Dates (Unit: Day) | Day | 144 | ||
Accumulated number of shares outstanding during period | 834,172,704 | ||
Number of issuance of new shares | 5,792,866 | ||
Treasury stock | |||
Weighted average common shares outstanding [Line Items] | |||
Dates (Unit: Day) | Day | 144 | ||
Accumulated number of shares outstanding during period | (49,534,416) | ||
Number Of Treasury Stock Shares | (343,989) | ||
Common shares issued at the beginning of the period | |||
Weighted average common shares outstanding [Line Items] | |||
Number of shares | 722,267,683 | 722,267,683 | |
Dates (Unit: Day) | Day | 365 | 366 | |
Accumulated number of shares outstanding during period | 263,627,704,295 | 264,349,971,978 | |
Treasury stock | |||
Weighted average common shares outstanding [Line Items] | |||
Number of shares | (2) | (2) | |
Dates (Unit: Day) | Day | 365 | 366 | |
Accumulated number of shares outstanding during period | (730) | (732) |
Contingent liabilities and co_3
Contingent liabilities and commitments - Details of contingent liabilities and commitments (Details) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021KRW (₩)Cases | Dec. 31, 2020KRW (₩)Cases | ||
Disclosure of contingent liabilities [line items] | |||
Total of guarantees | ₩ 12,987,809 | ₩ 11,809,456 | |
Loan commitments | 114,414,462 | 112,088,680 | |
Other commitments | [1] | 5,652,557 | 7,827,774 |
Provisions for litigations | 24,823 | 24,873 | |
Unsecured bank loans received | 2,225,226 | 2,894,688 | |
financial guarantees | 3,960,383 | 4,163,382 | |
litigation value | ₩ 578,505 | ₩ 413,744 | |
Number of litigation cases | Cases | 475 | 460 | |
Guarantee for loans | |||
Disclosure of contingent liabilities [line items] | |||
Total of guarantees | ₩ 38,897 | ₩ 103,229 | |
Acceptances | |||
Disclosure of contingent liabilities [line items] | |||
Total of guarantees | 622,758 | 602,014 | |
Guarantees in acceptances of imported goods | |||
Disclosure of contingent liabilities [line items] | |||
Total of guarantees | 111,195 | 78,395 | |
Other confirmed guarantees | |||
Disclosure of contingent liabilities [line items] | |||
Total of guarantees | 7,215,557 | 6,491,608 | |
Confirmed guarantees | |||
Disclosure of contingent liabilities [line items] | |||
Total of guarantees | 7,988,407 | 7,275,246 | |
Local letters of credit | |||
Disclosure of contingent liabilities [line items] | |||
Total of guarantees | 243,072 | 187,146 | |
Letters of credit | |||
Disclosure of contingent liabilities [line items] | |||
Total of guarantees | 3,186,513 | 3,025,923 | |
Other unconfirmed guarantees | |||
Disclosure of contingent liabilities [line items] | |||
Total of guarantees | 778,088 | 403,652 | |
Unconfirmed guarantees | |||
Disclosure of contingent liabilities [line items] | |||
Total of guarantees | 4,207,673 | 3,616,721 | |
Commercial paper purchase commitments and others | |||
Disclosure of contingent liabilities [line items] | |||
Total of guarantees | ₩ 791,729 | ₩ 917,489 | |
Restructuring contingent liabilities on Woori Asset Trust Co., Ltd. | |||
Disclosure of contingent liabilities [line items] | |||
Description of nature of obligation, contingent liabilities | The Group decided to enter into a stock sales agreement with a major shareholder of Woori Asset Trust Co., Ltd. (formerly, Kukje Asset Trust Co., Ltd.) to acquire 44.5% of interest (58.6% of voting rights) in July, 2019, and to acquire additional 21.3% of interest (28.0% of voting rights) after a certain period. As a result, the Group acquired the interest of the first sales agreement in December 2019 and is planning to acquire the interest of the second sales agreement after a certain period. | ||
Explanation of estimated financial effect of contingent liabilities | In regard to this acquisition, the Group recognized 121,420 million Won as other financial liabilities for the second sales agreement. | ||
Estimated financial effect of contingent liabilities | ₩ 121,420 | ||
Other contingent liabilities on Woori Asset Trust Co., Ltd. and asset securitization | |||
Disclosure of contingent liabilities [line items] | |||
Description of nature of obligation, contingent liabilities | As of December 31, 2021, Woori Asset Trust Co., Ltd., a subsidiary, has agreed to carry out construction completion obligations for 96 constructions, which includes the construction of residential and commercial complexes in Busan (U-dong, Haeundae-gu). Land Trust responsible for Construction and Management is a trust that bears the obligation to fulfill the responsibility of the constructor and to compensate the loan financial institution for damages if the Group fails to fulfill the construction completion obligation. As of December 31, 2021, the total PF loan amount of PF loan institutions invested in the project of the Land Trust responsible for Construction and Management is 3,269,955 million Won. Although additional losses may occur in relation to the construction completion obligations, the financial statements as of December 31, 2021 do not reflect these effects since losses are unlikely and the amount cannot be estimated reliably. Pursuant to some contracts related to asset securitization, the Group utilizes various prerequisites as triggering events causing early redemption, limiting risks that investors bear due to change in asset quality. Breach of such triggering clause leads to an early redemption of the securitized bonds. | ||
[1] | As of December 31, 2020 and 2021, the amount of unsecured bills (purchase note sales) and discounts on electronic short-term bond sales (purchase) are 2,894,688 million Won and 2,225,226 million Won, respectively. |
Related Party Transactions - Su
Related Party Transactions - Summary of Transactions with Related Parties (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | ||||
Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) | Dec. 31, 2019KRW (₩) | ||
Related party transactions [abstract] | |||||
Interest expense | ₩ 2,909,028 | $ 2,447,441 | ₩ 3,525,341 | ₩ 4,683,064 | |
Interest income | 9,894,749 | $ 8,324,709 | 9,523,853 | 10,576,770 | |
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Payment guarantee provisions recognized | 93 | 284 | |||
W Service Networks Co., Ltd. | |||||
Outstanding balances for related party transactions [abstract] | |||||
Loans | 20 | 21 | |||
Deposits due to customers | 2,832 | 2,183 | |||
Accrued expenses | 6 | 6 | |||
Other liabilities | 425 | 459 | |||
Related party transactions [abstract] | |||||
Other income | 30 | 32 | 32 | ||
Fees expenses | 612 | 525 | 448 | ||
Provision for (reversal of) allowance for credit loss | 0 | (4) | (3) | ||
Other expenses | 1,878 | 2,174 | 1,423 | ||
Interest expense | 7 | 13 | ₩ 20 | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Unused loan commitment | ₩ 180 | ₩ 179 | |||
Description of nature of related party relationship | Associates | Associates | Associates | Associates | |
Korea Credit Bureau Co., Ltd. | |||||
Outstanding balances for related party transactions [abstract] | |||||
Loans | ₩ 2 | ₩ 1 | |||
Deposits due to customers | 1,557 | 2,311 | |||
Other liabilities | 0 | 5 | |||
Related party transactions [abstract] | |||||
Fees expenses | 3,503 | 3,155 | ₩ 2,608 | ||
Other expenses | 68 | 0 | 0 | ||
Interest expense | 4 | 5 | 29 | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Unused loan commitment | ₩ 33 | ₩ 34 | |||
Description of nature of related party relationship | Associates | Associates | Associates | ||
Korea Finance Security Co., Ltd. | |||||
Outstanding balances for related party transactions [abstract] | |||||
Loans | ₩ 3,425 | ₩ 3,440 | |||
Deposits due to customers | 1,887 | 1,927 | |||
Allowance for credit losses | (6) | (6) | |||
Other liabilities | 2 | 1 | |||
Related party transactions [abstract] | |||||
Provision for (reversal of) allowance for credit loss | 1 | 3 | 8 | ||
Other expenses | 92 | 100 | 112 | ||
Interest expense | 2 | 3 | 9 | ||
Interest income | 80 | 70 | ₩ 0 | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Unused loan commitment | ₩ 835 | ₩ 820 | |||
Description of nature of related party relationship | Associates | Associates | Associates | Associates | |
Chin Hung International Inc. | |||||
Outstanding balances for related party transactions [abstract] | |||||
Loans | ₩ 0 | ₩ 257 | |||
Deposits due to customers | 0 | 8,715 | |||
Allowance for credit losses | 0 | (3) | |||
Other liabilities | 0 | 171 | |||
Related party transactions [abstract] | |||||
Provision for (reversal of) allowance for credit loss | 0 | (145) | ₩ 44 | ||
Interest expense | 0 | 19 | ₩ 35 | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Unused loan commitment | ₩ 0 | ₩ 16,167 | |||
Description of nature of related party relationship | Associates | Associates | Associates | Associates | |
LOTTE CARD Co., Ltd. | |||||
Outstanding balances for related party transactions [abstract] | |||||
Loans | ₩ 3,750 | ₩ 7,500 | |||
Deposits due to customers | 13,482 | 2,697 | |||
Allowance for credit losses | (39) | (77) | |||
Other assets | 10 | 12 | |||
Other liabilities | 91 | 113 | |||
Related party transactions [abstract] | |||||
Interest income | 196 | 311 | ₩ 213 | ||
Provision for (reversal of) allowance for credit loss | (59) | 171 | 30 | ||
Interest expense | 462 | 68 | 53 | ||
Fees income | 10,248 | 2,748 | ₩ 593 | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Unused loan commitment | ₩ 500,000 | ₩ 500,000 | |||
Description of nature of related party relationship | Associates | Associates | Associates | Associates | |
K BANK Co., Ltd. | |||||
Outstanding balances for related party transactions [abstract] | |||||
Loans | ₩ 99 | ₩ 104 | |||
Account receivables | 29 | 26 | |||
Other assets | 0 | 3,835 | |||
Other liabilities | 84,935 | 808 | |||
Related party transactions [abstract] | |||||
Fees expenses | 636 | 0 | ₩ 0 | ||
Fees income | 1,952 | 1,763 | ₩ 1,468 | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Unused loan commitment | ₩ 201 | ₩ 196 | |||
Description of nature of related party relationship | Associates | Associates | Associates | Associates | |
Well to Sea No.3 Private Equity Fund | |||||
Outstanding balances for related party transactions [abstract] | |||||
Deposits due to customers | ₩ 0 | ₩ 4,997 | |||
Related party transactions [abstract] | |||||
Provision for (reversal of) allowance for credit loss | 0 | (55) | ₩ (18) | ||
Interest expense | 0 | 5 | 11 | ||
Interest income | ₩ 0 | ₩ 1,883 | ₩ 1,774 | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Description of nature of related party relationship | Associates | Associates | Associates | Associates | |
Others | |||||
Outstanding balances for related party transactions [abstract] | |||||
Loans | [1] | ₩ 73,940 | ₩ 44,036 | ||
Deposits due to customers | [1] | 1,063 | 5,831 | ||
Allowance for credit losses | [1] | (124) | (126) | ||
Other assets | [1] | 739 | 651 | ||
Other liabilities | [1] | 3 | 5 | ||
Related party transactions [abstract] | |||||
Other income | [2],[3] | 0 | 16 | ₩ 17 | |
Provision for (reversal of) allowance for credit loss | [2],[3] | (2) | 0 | (5) | |
Interest expense | [2],[3] | 17 | 28 | 55 | |
Fees income | [2],[3] | 5,546 | 2,677 | 1,281 | |
Dividend income | [2],[3] | 0 | 52 | 0 | |
Interest income | [2],[3] | ₩ 679 | ₩ 0 | ₩ 0 | |
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Description of nature of related party relationship | Associates | Associates | Associates | Associates | |
Description of other related parties with outstanding balances | Others include IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership, Woori Growth Partnerships New Technology Private Equity Fund, Partner One Value Up I Private Equity Fund and etc., as of December 31, 2020 and 2021. | Others include IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership, Woori Growth Partnerships New Technology Private Equity Fund, Partner One Value Up I Private Equity Fund and etc., as of December 31, 2020 and 2021. | Others include IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership, Woori Growth Partnerships New Technology Private Equity Fund, Partner One Value Up I Private Equity Fund and etc., as of December 31, 2020 and 2021. | ||
Description of other related parties with transactions | Others include Woori Growth Partnerships New Technology Private Equity Fund, Partner One Value Up I Private Equity Fund, and etc., as of December 31, 2020 and 2021. | Others include Woori Growth Partnerships New Technology Private Equity Fund, Partner One Value Up I Private Equity Fund, and etc., as of December 31, 2020 and 2021. | Others include Woori Growth Partnerships New Technology Private Equity Fund, Partner One Value Up I Private Equity Fund, and etc., as of December 31, 2020 and 2021. | Others include Saman Corporation, Woori-Shinyoung Growth-Cap Private Equity Fund, Woori Hanhwa Eureka Private Equity Fund, Kyesan Engineering Co., Ltd., DAEA SNC Co., Ltd. and etc, as of December 31, 2019. | |
Together-Korea Government Private Pool Private Securities Investment Trust No.3 | |||||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Open interest | ₩ 0 | ₩ 990,000 | |||
Woori-Q Corporate Restructuring Private Equity Fund | |||||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Open interest | 11,109 | 36,355 | |||
PCC-Woori LP Secondary Fund | |||||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Open interest | 0 | 2,525 | |||
Union Technology Finance Investment Association | |||||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Open interest | 2,250 | 10,500 | |||
IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership | |||||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Open interest | 4,664 | 9,704 | |||
Genesis Environmental Energy Company 1st Private Equity Fund | |||||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Open interest | 916 | 916 | |||
Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund | |||||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Open interest | 425 | 550 | |||
Woori-Shinyoung Growth-Cap Private Equity Fund 1 | |||||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Open interest | 0 | 12,799 | |||
JC Assurance No.2 Private Equity Fund | |||||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Open interest | 1,351 | 1,650 | |||
Woori Seoul Beltway Private Special Asset Fund | |||||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Open interest | 39,458 | 41,393 | |||
WooriG Senior Loan General Type Private Investment Trust No.1 [Member] | |||||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Open interest | 14,284 | ₩ 53,041 | |||
Genesis Eco No.1 Private Equity Fund [Member] | |||||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Open interest | 195 | ||||
WooriG Oncorp Corporate support of Major Industry General Type Private Investment Trust (Type 2) [Member] | |||||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Open interest | ₩ 669 | ||||
[1] | Others include IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership, Woori Growth Partnerships New Technology Private Equity Fund, Partner One Value Up I Private Equity Fund and etc., as of December 31, 2020 and 2021. | ||||
[2] | Others include Saman Corporation, Woori-Shinyoung Growth-Cap Private Equity Fund, Woori Hanhwa Eureka Private Equity Fund, Kyesan Engineering Co., Ltd., DAEA SNC Co., Ltd. and etc, as of December 31, 2019. | ||||
[3] | Others include Woori Growth Partnerships New Technology Private Equity Fund, Partner One Value Up I Private Equity Fund, and etc., as of December 31, 2020 and 2021. |
Related Party Transactions - _2
Related Party Transactions - Summary of Major Loan and Borrowing Transactions with Related Parties (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||||
W Service Networks Co., Ltd. | ||||||
Reconciliation of changes in finance agreements to related parties [Abstract] | ||||||
Beginning balance | ₩ 21 | [1] | ₩ 23 | [1] | ₩ 69 | |
Changes in finance agreements to related parties [Abstract] | ||||||
Loan | 248 | 337 | 315 | |||
Collection | 249 | 339 | 361 | |||
Others | 0 | |||||
Ending balance | [1] | 20 | 21 | 23 | ||
Korea Credit Bureau Co., Ltd. | ||||||
Reconciliation of changes in finance agreements to related parties [Abstract] | ||||||
Beginning balance | 1 | [1] | 3 | [1] | 7 | |
Changes in finance agreements to related parties [Abstract] | ||||||
Loan | 11 | 17 | 26 | |||
Collection | 10 | 19 | 30 | |||
Others | 0 | |||||
Ending balance | [1] | 2 | 1 | 3 | ||
Korea Finance Security Co., Ltd. | ||||||
Reconciliation of changes in finance agreements to related parties [Abstract] | ||||||
Beginning balance | 3,440 | [1] | 1,860 | [1] | 57 | |
Changes in finance agreements to related parties [Abstract] | ||||||
Loan | 333 | 2,133 | 2,426 | |||
Collection | 348 | 553 | 623 | |||
Others | 0 | |||||
Ending balance | [1] | 3,425 | 3,440 | 1,860 | ||
Chin Hung International Inc. | ||||||
Reconciliation of changes in finance agreements to related parties [Abstract] | ||||||
Beginning balance | 244 | [1] | 241 | |||
Changes in finance agreements to related parties [Abstract] | ||||||
Loan | 2,338 | |||||
Collection | 2,335 | |||||
Ending balance | [1] | 244 | ||||
LOTTE CARD Co., Ltd. | ||||||
Reconciliation of changes in finance agreements to related parties [Abstract] | ||||||
Beginning balance | 7,500 | [1] | 7,500 | [1] | 0 | |
Changes in finance agreements to related parties [Abstract] | ||||||
Loan | 0 | 0 | 7,500 | |||
Collection | 3,750 | 0 | 0 | |||
Others | 0 | |||||
Ending balance | [1] | 3,750 | 7,500 | 7,500 | ||
K BANK Co., Ltd. | ||||||
Reconciliation of changes in finance agreements to related parties [Abstract] | ||||||
Beginning balance | 104 | [1] | 141 | [1] | 185 | |
Changes in finance agreements to related parties [Abstract] | ||||||
Loan | 1,769 | 1,942 | 2,249 | |||
Collection | 1,774 | 1,979 | 2,293 | |||
Others | 0 | |||||
Ending balance | [1] | 99 | 104 | 141 | ||
Well to Sea No.3 Private Equity Fund | ||||||
Reconciliation of changes in finance agreements to related parties [Abstract] | ||||||
Beginning balance | 0 | [1] | 4,490 | [1] | 1,857 | |
Changes in finance agreements to related parties [Abstract] | ||||||
Loan | 0 | 2,633 | ||||
Collection | 4,490 | 0 | ||||
Ending balance | [1] | 0 | ₩ 4,490 | |||
Godo Kaisha Oceanos 1 [Member] | ||||||
Reconciliation of changes in finance agreements to related parties [Abstract] | ||||||
Beginning balance | 44,036 | |||||
Changes in finance agreements to related parties [Abstract] | ||||||
Others | (1,003) | |||||
Ending balance | 43,033 | ₩ 44,036 | ||||
Woori Zip 1 [Member] | ||||||
Changes in finance agreements to related parties [Abstract] | ||||||
Loan | 13,121 | |||||
Others | (346) | |||||
Ending balance | 12,775 | |||||
Woori Zip 2 [Member] | ||||||
Changes in finance agreements to related parties [Abstract] | ||||||
Loan | 18,624 | |||||
Others | (492) | |||||
Ending balance | ₩ 18,132 | |||||
[1] | Payments that occurred for business reasons among related parties are excluded and net increase or decrease was used for limited credit loan. |
Related Party Transactions - _3
Related Party Transactions - Summary of Changes in Major Deposits Due to Customers with Related Parties (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||||
Saman Corporation | ||||||
Reconciliation of changes in finance agreements from related parties [Abstract] | ||||||
Beginning balance | [2] | ₩ 2,522 | [1] | ₩ 2,436 | ||
Changes in finance agreements from related parties [Abstract] | ||||||
Increase | [2] | 86 | ||||
Decrease | [2] | 0 | ||||
Ending balance | [1],[2] | 2,522 | ||||
W Service Networks Co., Ltd. | ||||||
Reconciliation of changes in finance agreements from related parties [Abstract] | ||||||
Beginning balance | ₩ 1,180 | [1] | 1,180 | [1] | 1,180 | |
Changes in finance agreements from related parties [Abstract] | ||||||
Increase | 1,180 | 1,180 | 1,460 | |||
Decrease | 1,180 | 1,180 | 1,460 | |||
Ending balance | [1] | 1,180 | 1,180 | 1,180 | ||
Chin Hung International Inc. | ||||||
Reconciliation of changes in finance agreements from related parties [Abstract] | ||||||
Beginning balance | 0 | [1] | 400 | [1] | 765 | |
Changes in finance agreements from related parties [Abstract] | ||||||
Increase | 0 | 400 | ||||
Decrease | 400 | 765 | ||||
Ending balance | [1] | 0 | 400 | |||
Partner One Value Up I Private Equity Fund | ||||||
Reconciliation of changes in finance agreements from related parties [Abstract] | ||||||
Beginning balance | 863 | [1] | 1,150 | [1] | 1,403 | |
Changes in finance agreements from related parties [Abstract] | ||||||
Increase | 637 | 1,737 | 1,617 | |||
Decrease | 1,171 | 2,024 | 1,870 | |||
Ending balance | [1] | 329 | 863 | 1,150 | ||
Korea Credit Bureau Co., Ltd. | ||||||
Reconciliation of changes in finance agreements from related parties [Abstract] | ||||||
Beginning balance | 1,000 | [1] | 0 | [1] | 6,000 | |
Changes in finance agreements from related parties [Abstract] | ||||||
Increase | 0 | 1,000 | 0 | |||
Decrease | 1,000 | 0 | 6,000 | |||
Ending balance | [1] | ₩ 0 | 1,000 | 0 | ||
Korea Finance Security Co., Ltd. | ||||||
Reconciliation of changes in finance agreements from related parties [Abstract] | ||||||
Beginning balance | ₩ 0 | [1] | 535 | |||
Changes in finance agreements from related parties [Abstract] | ||||||
Increase | 25 | |||||
Decrease | 560 | |||||
Ending balance | [1] | ₩ 0 | ||||
[1] | Details of payment between related parties, demand deposit due to customers and etc. are excluded. | |||||
[2] | Excluded from the related parties due to the loss of significant influence for the year ended December 31, 2019. |
Related Party transactions - Ma
Related Party transactions - Major investment and Recovery transactions (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
WooriG Public Offering stock 10 securities Investment Trust [Bond mixed] C(F) | ||
Schedule of major investment and recovery transactions with related parties [Line Items] | ||
Investment and others | ₩ 1,000 | |
Recovery and others | ₩ 1,064 | |
WooriG IGIS Securities Investment Trust [Bond] C(F) | ||
Schedule of major investment and recovery transactions with related parties [Line Items] | ||
Investment and others | ₩ 1,300 | |
Recovery and others | 1,306 | |
Woori China Mainland Stock Securities Investment Trust | ||
Schedule of major investment and recovery transactions with related parties [Line Items] | ||
Recovery and others | 568 | |
Woori Long-term government bond securities Investment Trust No.1 | ||
Schedule of major investment and recovery transactions with related parties [Line Items] | ||
Investment and others | 2,000 | |
Woori New MMF No.3 | ||
Schedule of major investment and recovery transactions with related parties [Line Items] | ||
Recovery and others | 20,105 | |
Woori Multi-Return Securities Investment Trust 1 | ||
Schedule of major investment and recovery transactions with related parties [Line Items] | ||
Investment and others | 8,000 | |
Woori Multi-Return Securities Investment Trust 2 (Balanced Bond) | ||
Schedule of major investment and recovery transactions with related parties [Line Items] | ||
Investment and others | 8,000 | |
Woori Short term Plus Securities Investment Trust | ||
Schedule of major investment and recovery transactions with related parties [Line Items] | ||
Investment and others | 200 | |
Woori Smart New Deal 30 Target Conversion Securities Investment trust No.3 | ||
Schedule of major investment and recovery transactions with related parties [Line Items] | ||
Investment and others | 200 | |
Woori Smart Balance Securities Investment Trust (Stock) | ||
Schedule of major investment and recovery transactions with related parties [Line Items] | ||
Investment and others | 500 | |
Woori ACE Public Offering stock Alpha Securities Investment Trust (Bond Mixed) | ||
Schedule of major investment and recovery transactions with related parties [Line Items] | ||
Investment and others | 200 | |
WooriG Oncorp Corporate support of Major Industry General Type Private Investment Trust (Type 2) | ||
Schedule of major investment and recovery transactions with related parties [Line Items] | ||
Investment and others | ₩ 831 |
Related Party Transactions - _4
Related Party Transactions - Summary of Compensation for Key Management (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of amounts incurred by entity for provision of key management personnel services provided by separate management entities [abstract] | |||
Short-term employee salaries | ₩ 20,742 | ₩ 22,778 | ₩ 13,427 |
Retirement benefit service costs | 815 | 910 | 783 |
Share-based compensation | 6,970 | 3,519 | 2,494 |
Total | 28,527 | 27,207 | ₩ 16,704 |
Outstanding assets from transactions with key management | 3,821 | 3,888 | |
Outstanding liabilities from transaction with key management | ₩ 24,861 | ₩ 16,915 | |
Description of nature of key management personnel | Key management includes executives and directors of Woori Financial Group and major subsidiaries, and also includes CEO of other subsidiaries. | Key management includes executives and directors of Woori Financial Group and major subsidiaries, and also includes CEO of other subsidiaries. | Key management includes executives and directors of Woori Financial Group and major subsidiaries, and also includes CEO of other subsidiaries. |
Leases - Summary of Total inves
Leases - Summary of Total investment in Finance Lease And the Present Value of the Minimum Lease Payments to be Recovered (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Undiscounted finance lease payments to be received | ₩ 1,298,516 | ₩ 654,759 |
Net investment in lease | 1,173,565 | 586,195 |
Within one year | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Undiscounted finance lease payments to be received | 70,740 | 24,649 |
Net investment in lease | 69,030 | 23,957 |
After one year but within two years | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Undiscounted finance lease payments to be received | 133,398 | 48,781 |
Net investment in lease | 124,904 | 45,575 |
After two years but within three years | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Undiscounted finance lease payments to be received | 239,895 | 132,894 |
Net investment in lease | 218,911 | 120,414 |
After three years but within four years | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Undiscounted finance lease payments to be received | 367,991 | 171,137 |
Net investment in lease | 331,685 | 151,756 |
After four years but within five years | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Undiscounted finance lease payments to be received | 486,490 | 277,282 |
Net investment in lease | 429,034 | 244,481 |
After five years | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Undiscounted finance lease payments to be received | 2 | 16 |
Net investment in lease | ₩ 1 | ₩ 12 |
Leases - Summary of Unrealized
Leases - Summary of Unrealized Interest Income of the Finance Lease (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Reconciliation of undiscounted lease payments to net investment in finance lease [abstract] | ||
Total investment in lease | ₩ 1,298,516 | ₩ 654,759 |
Net investment in lease | 1,173,565 | 586,195 |
Present value of minimum lease payments | 1,173,565 | 586,133 |
Present value of unguaranteed residual value | 0 | 62 |
Unearned interest income | ₩ 124,951 | ₩ 68,564 |
Leases - Summary of Operating L
Leases - Summary of Operating Lease Assets (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of assets subject to operating lease [Line Items] | ||
Operating lease assets | ₩ 1,782,887 | ₩ 1,116,175 |
Gross Carrying Amount | Prepaid lease assets [Member] | ||
Disclosure of assets subject to operating lease [Line Items] | ||
Operating lease assets | 4,579 | 199 |
Carrying Amount | Operating lease assets [Member] | ||
Disclosure of assets subject to operating lease [Line Items] | ||
Operating lease assets | 1,778,308 | 1,115,976 |
Acquisition cost | Operating lease assets [Member] | ||
Disclosure of assets subject to operating lease [Line Items] | ||
Operating lease assets | 2,299,968 | 1,506,957 |
Accumulated depreciation | Operating lease assets [Member] | ||
Disclosure of assets subject to operating lease [Line Items] | ||
Operating lease assets | ₩ (521,660) | ₩ (390,981) |
Leases - Summary of Changes in
Leases - Summary of Changes in Assets Subject to Operating Lease (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Changes In Assets Subject To Operating Lease [Abstract] | ||
Beginning balance | ₩ 1,116,175 | ₩ 0 |
Acquisition | 984,093 | 118,256 |
Depreciation | (250,971) | (52,504) |
Disposal | (93,138) | (21,963) |
Business combination | 0 | 1,071,111 |
Others | 22,149 | 1,275 |
Ending balance | ₩ 1,778,308 | ₩ 1,116,175 |
Leases - Summary of Future Leas
Leases - Summary of Future Lease Payments to be Received Under Operating Lease Contracts for Lessor (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of maturity analysis of lease payments to be received [Line Items] | ||
Future lease payments to be received under the lease contracts | ₩ 1,236,814 | ₩ 725,104 |
Within one year | ||
Disclosure of maturity analysis of lease payments to be received [Line Items] | ||
Future lease payments to be received under the lease contracts | 377,153 | 240,005 |
After one year but within two years | ||
Disclosure of maturity analysis of lease payments to be received [Line Items] | ||
Future lease payments to be received under the lease contracts | 347,539 | 223,074 |
After two years but within three years | ||
Disclosure of maturity analysis of lease payments to be received [Line Items] | ||
Future lease payments to be received under the lease contracts | 262,176 | 156,859 |
After three years but within four years | ||
Disclosure of maturity analysis of lease payments to be received [Line Items] | ||
Future lease payments to be received under the lease contracts | 170,391 | 80,174 |
After four years but within five years | ||
Disclosure of maturity analysis of lease payments to be received [Line Items] | ||
Future lease payments to be received under the lease contracts | ₩ 79,555 | ₩ 24,992 |
Leases - Adjusted Lease Payment
Leases - Adjusted Lease Payments Recognized in Profit or Loss (Details) - KRW (₩) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of quantitative information about leases for lessor [abstract] | ||
Income relating to variable lease payments for operating leases that do not depend on index or rate | ₩ 0 | ₩ 0 |
Leases - Summary of Future Le_2
Leases - Summary of Future Lease Payments for the Lease Contracts (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure Of Maturity Analysis Of Lease Payments Of Lessee [Line Items] | ||
Future lease payments under the lease contracts | ₩ 345,241 | ₩ 409,516 |
Within one year | ||
Disclosure Of Maturity Analysis Of Lease Payments Of Lessee [Line Items] | ||
Future lease payments under the lease contracts | 151,259 | 173,885 |
After one year but within five years | ||
Disclosure Of Maturity Analysis Of Lease Payments Of Lessee [Line Items] | ||
Future lease payments under the lease contracts | 155,707 | 200,844 |
After five years | ||
Disclosure Of Maturity Analysis Of Lease Payments Of Lessee [Line Items] | ||
Future lease payments under the lease contracts | ₩ 38,275 | ₩ 34,787 |
Leases - Summary of Cash Outflo
Leases - Summary of Cash Outflows From Lease (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of quantitative information about leases for lessee [abstract] | ||
Cash outflows from lease | ₩ 180,884 | ₩ 207,305 |
Leases - Summary of Lease Payme
Leases - Summary of Lease Payments of Short-Term Leases or Leases for Low-Value Assets (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of quantitative information about leases for lessee [abstract] | ||
Lease payments for short-term leases | ₩ 1,598 | ₩ 1,760 |
Lease payments for which the underlying asset is of low value | 1,488 | 751 |
Total | ₩ 3,086 | ₩ 2,511 |
Leases - Details of Practical E
Leases - Details of Practical Expedient for COVID 19 Related Rent Concessions (Details) ₩ in Millions | 12 Months Ended |
Dec. 31, 2021KRW (₩) | |
Disclosure of practical expedient for COVID-19 related rent concessions [Abstract] | |
Amount recognized in profit or loss related to rent concessions | ₩ 35,717 |
Events after the Reporting Pe_2
Events after the Reporting Period - New subsidiary, Crisis in Ukraine and Embezzlement Case (Details) $ in Thousands, ₩ in Millions | Jan. 07, 2022KRW (₩) | Dec. 31, 2021KRW (₩) | Dec. 31, 2021USD ($) | Dec. 31, 2020KRW (₩) |
Disclosure of non-adjusting events after reporting period [line items] | ||||
Description of nature of non-adjusting event after reporting period | (1) On January 7, 2022, the Parent company established Woori Financial F&I Inc. (100% of ownership, 200 billion Won in stock payments) which is an investment company for non-performing loans (NPL) and restructuring companies and included it as a subsidiary. (2) The Russia - Ukraine conflict has been escalated in February 2022, Russia is imposed to the international sanctions. As a result of these sanctions, the lack of liquidity in the foreign exchange market as well as the significant decline in value of the Rubles and the decline in value of Russian companies’ securities are in progress. As a result, the Group may experience situations such as a decrease in value of financial assets or operating assets owned by the Group regarding the conflict, an increase in receivable payment terms, limitation to transfer funds, a decrease in the profit. As of December 31, 2021, the Group expects such conflict and sanctions would have financial impacts on the business of AO Woori Bank, one of the subsidiaries, in the future. However, the Group cannot reasonably predict the financial impacts because it is very uncertain to estimate the impact on the Group’s financial position and business performance. (3) In April 2022, the Group became aware of an embezzlement case by an employee of the Bank, one of its subsidiaries. Related to the embezzlement case, the investigation by the relevant institutions is currently in progress. The Group considered the case as the adjusting events after the reporting period and recognized 62.2 billion Won in the financial statements as losses. Such adjustment was recorded as out of period adjustment in 2021 and the impacts on the prior periods are not material. | |||
Issued capital | ₩ 3,640,303 | $ 3,062,681 | ₩ 3,611,338 | |
Loss recognized due to embezzlement | ₩ 62,200 | |||
Major ordinary share transactions [member] | Woori Financial FI Inc. [member] | ||||
Disclosure of non-adjusting events after reporting period [line items] | ||||
Proportion of ownership interest in subsidiary | 100.00% | |||
Issued capital | ₩ 200,000 |